To save the most money, the best way to find cheaper Volvo V50 insurance is to regularly compare prices from different companies who provide car insurance in Chandler.
First, get an understanding of the coverage provided by your policy and the measures you can control to keep rates in check. Many rating factors that result in higher rates such as speeding tickets, accidents and poor credit can be remedied by being financially responsible and driving safely.
Second, request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive or Farmers Insurance, while independent agencies can quote rates for a wide range of companies.
Third, compare the new quotes to the price on your current policy to determine if switching companies saves money. If you find better rates and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, provide written notification to your current company to cancel the current policy and submit a down payment along with a completed application to the newly selected company. Be sure to put the new proof of insurance certificate in an accessible location in your vehicle.
The most important part of this process is to use the same amount of coverage on every quote and and to compare as many different insurance providers as possible. This ensures an accurate price comparison and plenty of rates choose from.
It’s a fact that car insurance companies want to keep you from comparing prices. People who shop around for the cheapest price will most likely switch to a new company because there is a great chance of finding a lower-cost company. A recent insurance study revealed that drivers who routinely compared rates saved over $70 a month compared to other drivers who never compared prices.
If finding the lowest rates on insurance is your objective, then having an understanding of how to choose a company and compare coverages can make shopping around easier.
The quickest way to get policy rate comparisons for Volvo V50 insurance in Chandler is to take advantage of the fact most insurance companies participate in a system to give you rate quotes. All consumers are required to do is give them some information such as if you went to college, how your vehicles are used, the type of vehicles you drive, and if you have a valid license. That information is then submitted to all major companies and you receive quotes within a short period of time.
To start a rate quote now, click here and find out if you can get cheaper insurance in Chandler.
The companies in the list below are ready to provide free rate quotes in Arizona. If multiple companies are listed, we recommend you get prices from several of them to find the lowest car insurance rates.
Insurance statistics for a Volvo V50
The coverage table displayed below highlights a range of insurance rates for Volvo V50 models. Being able to understand how auto insurance prices are figured can help customers make smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|V50 AWD T5 R-Design||$286||$726||$362||$22||$108||$1,504||$125|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate information does not factor in specific zip code location which can affect coverage rates greatly.
The chart below shows how choosing a deductible and can change Volvo V50 annual premium costs for each different age category. The data is based on a married male driver, full coverage, and no policy discounts are applied.
Cost comparison with and without full coverage
The illustration below visualizes the comparison of Volvo V50 insurance rates when comparing full coverage to state minimum liability only. The rates are based on no claims, a clean driving record, $1,000 deductibles, single status, and no discounts are applied.
When to stop buying full coverage
There is no definitive formula of when to drop physical damage insurance, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s pretend your Volvo V50 book value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after the deductible is paid. If you are paying more than $500 annually for physical damage coverage, then you might consider buying liability only.
There are some scenarios where only buying liability is not a good plan. If you haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Three reasons to not skimp on insurance
Even though it’s not necessarily cheap to insure a Volvo in Chandler, maintaining insurance is most likely required but also gives you several important benefits.
- Most states have mandatory insurance requirements which means state laws require a minimum amount of liability insurance if you want to drive legally. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your Volvo, most banks will have a requirement that you buy full coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank may insure your Volvo for a lot more money and make you pay for the much more expensive policy.
- Insurance protects both your car and your personal assets. It will also cover many types of medical costs incurred in an accident. Liability insurance will also pay to defend you if anyone sues you for causing an accident. If your Volvo gets damaged, comprehensive and collision coverage will pay to have it repaired.
The benefits of buying insurance more than offset the price you pay, especially for larger claims. Today the average American driver is overpaying over $700 annually so you should quote your policy with other companies each time the policy renews to ensure rates are inline.
Learn How to Lower Your Insurance Rates
Many different elements are taken into consideration when premium rates are determined. Most are fairly basic such as your driving record, although some other factors are more transparent like your vehicle usage and annual miles driven. When buying insurance it’s important to understand some of the factors that play a part in calculating your policy premiums. If you have some idea of what controls the rates you pay, this allows you to make educated decisions that may reward you with better insurance rates.
The itemized list below are a few of the things used by your company to calculate prices.
Is insurance cheaper for men or women? – Over time, data shows that females tend to be a little less risky than males. However, don’t assume that women are better drivers. Both sexes are in accidents at a similar rate, but guys cause more damage. In addition to higher claims, males also receive more costly citations such as DWI and reckless driving. Youthful male drivers cause the most accidents and are penalized with high insurance rates.
The diagram below shows the difference between Volvo V50 premium costs for male and female drivers. The prices are based on no accidents or driving violations, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are taken into consideration.
Safer vehicles cost less to insure – Vehicles with good safety scores can get you lower premiums. The safest vehicles have better occupant injury protection and better occupant protection means your insurance company pays less which can mean better rates for you.
Cheaper rates by combining – Most companies provide lower prices to insureds that buy multiple policies, otherwise known as a multi-policy discount. The discount can add up to as much as ten percent or more Even with this discount, you still need to get quotes from other companies to verify if the discount is saving money.
Urban areas may pay more – Choosing to live in smaller towns and rural areas of the country can save you money when buying insurance. Fewer people means less chance of accidents and lower theft and vandalism rates. Urban drivers tend to have traffic congestion and higher rates of accident claims. More time commuting means higher likelihood of an accident.
Avoid tickets and save – Whether or not you get tickets has a lot to do with how much you pay for insurance. Getting just one chargeable violation can boost insurance rates by as much as twenty percent. Careful drivers get better rates than bad drivers. Drivers unfortunate enough to have license-revoking tickets like hit and run, DWI or reckless driving convictions may find they need to submit a SR-22 form with their state DMV in order to continue driving.
The chart below highlights how speeding tickets and fender-benders can influence Volvo V50 auto insurance rates for different age categories. The price estimates are based on a married female driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.
Certain employers pay higher rates – Did you know that where you work can have an impact on rates? Careers such as real estate brokers, executives, and dentists generally pay higher rates than average because of job stress and lots of time spent at work. On the other hand, careers such as actors, historians and performers have the lowest average rates.
Affordable rates on Volvo V50 insurance in Chandler with these discounts
Car insurance can cost a lot, but there’s a good chance there are discounts that many consumers don’t even know exist. Some trigger automatically when you get a quote, but occasionally some discounts must be asked about before they will apply.
- Accident Free – Insureds with no claims or accidents pay much less when compared to drivers who are more careless.
- Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a lower price if you buy some life insurance in addition to your auto policy.
- Military Rewards – Having a family member in the military may lower your rates slightly.
- Early Signing – A few larger companies give discounts for buying a policy prior to the expiration date on your current V50 insurance policy. It’s a savings of about 10%.
- Full Payment Discount – By making one initial payment rather than spreading payments over time you may have a lower total premium amount.
A quick disclaimer, most credits do not apply to your bottom line cost. Some only apply to the cost of specific coverages such as liability and collision coverage. Even though it appears having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
The information below visualizes the comparison of Volvo V50 insurance costs with and without policy discounts. Data assumes a male driver, no violations or claims, Arizona state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-policy, safe-driver, homeowner, and multi-car discounts applied.
A few of the larger companies and a summarized list of policyholder discounts are:
- 21st Century has savings for early bird, teen driver, driver training, air bags, and anti-lock brakes.
- State Farm policyholders can earn discounts including safe vehicle, multiple autos, good driver, multiple policy, passive restraint, and Steer Clear safe driver discount.
- AAA may offer discounts for pay-in-full, good driver, anti-theft, multi-policy, and multi-car.
- Liberty Mutual may include discounts for new graduate, multi-policy, newly retired, multi-car, and teen driver discount.
- Progressive includes discounts for continuous coverage, multi-policy, multi-vehicle, online signing, good student, homeowner, and online quote discount.
When quoting, ask every company which discounts you qualify for. Some of the earlier mentioned discounts may not be offered in your state. To view insurers who offer discounts in Chandler, click here.
Car insurance agents can help
A small number of people just want to sit down with an agent and that is a personal choice. A good thing about getting online price quotes is that you can obtain the lowest rates and still have an agent to talk to.
After filling out this simple form, your information is transmitted to participating agents in Chandler who can give free rate quotes for your insurance coverage. It’s much easier because you don’t need to visit any agencies since price quotes are sent immediately to you. You can get cheaper insurance rates without having to waste a lot of time. If you have a need to get a price quote from a particular provider, you just need to jump over to their website and fill out the quote form the provide.
Finding the right insurance company shouldn’t rely on just a cheap price quote. These questions are important to ask:
- How many companies do they write for?
- Are there any discounts that you might be missing?
- If they are an independent agency in Chandler, which companies do they recommend?
- When do they do a full risk review?
- Do they specialize in personal lines coverage in Chandler?
- Has the agent ever had any license suspensions?
Compare rates from both independent and exclusive car insurance agents
If you are wanting to purchase insurance from a reliable insurance agent, there are two types of agencies and how they differ in how they quote coverages. Insurance agents in Chandler are either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Agents in the exclusive channel are contracted to one company such as Allstate, Farmers Insurance, State Farm, and AAA. They usually cannot compare other company’s rates so they have to upsell other benefits. Exclusive insurance agents are usually well trained on their company’s products which helps them sell on service rather than price.
The following is a list of exclusive insurance agencies in Chandler that can give you price quotes.
Farmers Insurance: John D Donadio Insurance Agency
1727 N Arizona Ave #9 – Chandler, AZ 85225 – (480) 382-1570 – View Map
Independent Insurance Agents
Agents that elect to be independent are not locked into one company so they can insure your vehicles with an assortment of companies and get you the best rates possible. If they find a lower price, they simply move your policy to a different company and you don’t have to switch agencies.
When comparing rate quotes, we recommend you include price quotes from multiple independent agents in order to have the best price comparison.
Listed below are Chandler independent insurance agents who can help you get price quotes.
One last note
As you prepare to switch companies, it’s not a good idea to skimp on critical coverages to save a buck or two. There are many occasions where an insured cut liability limits or collision coverage only to regret that it was a big mistake. Your focus should be to find the BEST coverage at the best cost, not the least amount of coverage.
Cost effective Volvo V50 insurance is possible both online in addition to local insurance agencies, and you should compare price quotes from both to have the best rate selection. There are still a few companies who do not offer the ability to get a quote online and most of the time these smaller companies only sell through independent insurance agents.
More tips and info about auto insurance is located in these articles:
- Alcohol Impaired Driving FAQ (iihs.org)
- Who Has Affordable Chandler Auto Insurance for a Toyota RAV4? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Ride Shares in Chandler? (FAQ)
- Who Has Affordable Auto Insurance with Multiple Speeding Tickets in Chandler? (FAQ)
- Insurance Losses by Make and Model (iihs.org)
- Safe Vehicles for Teens (iihs.org)