1993 Volvo 940 Car Insurance Rates

Paying for high-priced Volvo 940 insurance can take a big chunk out of your personal savings and make it impossible to make ends meet. Doing a price comparison is a great way to reduce premiums and put more money in your pocket. Online insurance companies like Geico and Progressive continually bombard you with ad campaigns and it is difficult to ignore the promise of big savings and do the work needed to find the best deal.

These factors can influence what you pay for Volvo 940 insurance

Smart consumers have a good feel for the different types of things that play a part in calculating the rates you pay for car insurance. Understanding what impacts premium levels enables informed choices that could result in big savings.

  • Special features that cut premiums – Owning a car with a theft deterrent system can help lower your rates. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent your vehicle from being stolen.
  • Women pay lower rates – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. Men and women tend to get into accidents in similar percentages, but the men tend to have more serious accidents. Men also statistically receive more costly citations such as DWI and reckless driving.
  • Safer occupants lowers premiums – Cars with high safety ratings get lower rates. Safe vehicles reduce injuries and fewer injuries means lower claim amounts and more competitive rates for policyholders. If your Volvo 940 scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Bad driving skills means higher rates – A bad driving record impacts your car insurance rates tremendously. Careful drivers have lower premiums than bad drivers. Just one moving violation can boost insurance rates by twenty percent. If you have serious violations like reckless driving, hit and run or driving under the influence may find they need to file a SR-22 to the state department of motor vehicles in order to continue driving.

The method we recommend to compare car insurance company rates is to know the fact car insurance companies have advanced systems to provide you with free rate quotes. The one thing you need to do is spend a couple of minutes providing details like types of safety features, whether you are single or married, driver ages, and whether you drive to work or school. The data is sent automatically to all major companies and you receive quotes instantly.

Insurance ads bend the truth

Consumers can’t ignore all the ads that promise big savings by companies like Allstate and Progressive. All the ads say the same thing that you’ll save big if you switch to them.

But how can every company make the same claim?

All companies can use profiling for the right customer that makes them money. An example of a profitable customer might be profiled as a mature driver, owns a home, and has a high credit rating. Any driver who matches those parameters will get very good rates and therefore will pay quite a bit less when switching companies.

Potential customers who do not match the “perfect” profile must pay a more expensive rate and ends up with the customer not buying. The ads state “people who switch” not “everybody who quotes” save that much. This is how companies can truthfully state the savings.

This illustrates why you should get a wide range of price quotes. Because you never know which insurance companies will fit your personal profile best.

Discounts are basically free money

Insurance can cost an arm and a leg, but there are discounts available to help offset the cost. Certain discounts will be applied at the time of purchase, but lesser-known reductions have to be asked about before they will apply. If you aren’t receiving every discount available, you are paying more than you should be.

  • Anti-lock Brakes – Anti-lock brake equipped vehicles prevent accidents and earn discounts up to 10%.
  • Seat Belts Save – Using a seat belt and requiring all passengers to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • No Charge for an Accident – Certain companies permit an accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
  • Pay Now and Pay Less – If you pay your bill all at once instead of making monthly payments you may reduce your total bill.
  • No Accidents – Drivers who don’t have accidents pay much less when compared to bad drivers.
  • Own a Home – Owning a house can help you save on auto insurance because of the fact that having a home is proof that your finances are in order.
  • Discount for Good Grades – Performing well in school can earn a discount of 20% or more. The discount lasts up until you turn 25.
  • Theft Prevention System – Vehicles with anti-theft systems prevent vehicle theft and will save you 10% or more.
  • Life Insurance – Larger companies have better rates if you take out life insurance.

Drivers should understand that most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. Even though it may seem like having all the discounts means you get insurance for free, companies wouldn’t make money that way. Any amount of discount will bring down your overall premium however.

Car insurance companies who might offer these discounts may include but are not limited to:

Before buying, ask every prospective company which discounts they offer. All car insurance discounts might not apply in your area.

Which insurance is the “right” coverage?

When it comes to choosing adequate coverage, there isn’t really a cookie cutter policy. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover if you could use an agent’s help.

  • Is my nanny covered when driving my vehicle?
  • Exactly who is provided coverage by my policy?
  • Is pleasure use cheaper than using my 1993 Volvo 940 to commute?
  • Can my teen drive my company car?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Do I need roadside assistance coverage?
  • Is extra glass coverage worth it?
  • How high should deductibles be on a 1993 Volvo 940?
  • Am I covered by my spouse’s policy after a separation?
  • Is my dog or cat covered if injured in an accident?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Educate yourself about auto insurance coverages

Understanding the coverages of auto insurance can be of help when determining appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages found on the average auto insurance policy.

Liability – Liability insurance protects you from injuries or damage you cause to other’s property or people. This coverage protects you from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage protects against claims such as bail bonds, funeral expenses, loss of income and emergency aid. How much liability should you purchase? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Collision coverages – This pays for damage to your 940 caused by collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as damaging your car on a curb, hitting a mailbox, sustaining damage from a pot hole and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to raise the deductible in order to get cheaper collision rates.

Comprehensive coverage – This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as falling objects, hail damage, fire damage, rock chips in glass and hitting a deer. The most a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these limits are identical to your policy’s liability coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses like dental work, funeral costs and doctor visits. They are utilized in addition to your health insurance program or if you do not have health coverage. They cover both the driver and occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

What is YOUR best insurance company?

When you buy insurance online, it’s not a good idea to buy poor coverage just to save money. In many instances, an accident victim reduced uninsured motorist or liability limits only to find out that a couple dollars of savings turned into a financial nightmare. Your aim should be to get the best coverage possible at the best price while still protecting your assets.

You just read a lot of information how to lower your 1993 Volvo 940 insurance rates. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. You may even discover the best prices are with some of the lesser-known companies. These companies may only write in your state and offer lower rates than their larger competitors like Progressive and Geico.

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