1994 Volvo 940 Insurance Quotes

Looking for lower insurance coverage rates for your Volvo 940? Confused by the crazy number of insurance coverage options? You’re not the only one! Consumers have so many options available that it can quickly become a big hassle to find the lowest price.

This article will introduce you to how to effectively get price quotes and some tips to save money. If you currently have car insurance, you should be able to cut costs considerably using this strategy. But drivers do need to know how insurance companies determine prices.

Finding Auto Insurance

To find the best auto insurance prices, there are several ways of comparing rates from different insurance companies. The best way to find the lowest 1994 Volvo 940 rates is simply to get online rate quotes. It is quite easy and can be accomplished in a couple of different ways.

  • The recommended way to find the lowest comparison rates would be an industry-wide quote request form click here to open form in new window. This easy form prevents you from having to do multiple quote forms for every auto insurance company. Just one form gets rate comparisons from multiple companies. This is perfect if you don’t have a lot of time.
  • A more difficult way to obtain and compare quotes online consists of going to the website of each company and complete a new quote form. For instance, let’s assume you want to compare rates from Nationwide, 21st Century and State Farm. You would have to visit each site and enter your policy data, which is why the first method is more popular. For a list of links to insurance companies in your area, click here.

It’s up to you which method you use, but make darn sure you compare identical coverage limits and deductibles for each comparison quote. If the quotes have higher or lower deductibles it will be very difficult to determine the lowest rate for your Volvo 940. Just a small difference in coverages could mean much higher rates. Just keep in mind that comparing more company’s prices gives you a better chance of getting lower pricing.

Are you getting all your discounts?

Properly insuring your vehicles can get expensive, but discounts can save money and there are some available that can drop the cost substantially. Some discounts apply automatically at quote time, but lesser-known reductions have to be specifically requested prior to getting the savings.

  • Auto/Home Discount – If you have multiple policies with one insurance company you will save up to 20% off your total premium.
  • Seat Belts Save more than Lives – Requiring all passengers to wear their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Braking Control Discount – Vehicles with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
  • Drive Safe and Save – Safe drivers may save up to 50% more on 940 coverage than drivers with accidents.
  • Service Members Pay Less – Being deployed with a military unit could mean lower rates.
  • Memberships – Participating in a civic or occupational organization could qualify you for a break on your policy on 940 coverage.
  • Student Driver Training – Have your child complete a driver education course in school.
  • Employee of Federal Government – Active or retired federal employment can save as much as 8% on 940 coverage with certain companies.
  • Sign Online – Some insurance companies will discount your bill up to fifty bucks just for signing your application over the internet.
  • Discount for Life Insurance – Companies who offer life insurance give better rates if you take out auto and life insurance together.

As a disclaimer on discounts, most discounts do not apply to your bottom line cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. So even though it sounds like adding up those discounts means a free policy, you’re out of luck. Any amount of discount will reduce your overall premium however.

Insurance companies that possibly offer these benefits are:

It’s a good idea to ask all companies you are considering which discounts you may be entitled to. Savings may not be available in your area.

Tailor your coverage to you

When it comes to choosing the best car insurance coverage, there really is no single plan that fits everyone. Every insured’s situation is different.

Here are some questions about coverages that may help highlight if your insurance needs would benefit from an agent’s advice.

  • Is my custom paint covered by insurance?
  • Does insurance cover tools stolen from my truck?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Which companies will insure high-risk drivers?
  • When can I cancel my policy?
  • Are my friends covered when driving my car?

If you don’t know the answers to these questions then you might want to talk to an agent. To find lower rates from a local agent, simply complete this short form.

Why you might be paying too much to insure your Volvo 940

It’s important that you understand some of the elements that play a part in calculating the rates you pay for insurance. When you know what positively or negatively controls the rates you pay enables informed choices that will entitle you to much lower annual insurance costs.

Shown below are some of the factors insurance companies consider when setting prices.

  • Do you work long hours in a high stress job? – Careers like doctors, architects and accountants are shown to have higher rates than average in part from stressful work requirements and lots of time spent at work. On the flip side, professions such as scientists, athletes and retirees pay the least on 940 coverage.
  • Extra coverages can waste money – There are many add-on coverages that can waste your money on your 940 policy. Coverages like vanishing deductibles, accident forgiveness and additional equipment coverage are some examples. These may sound like a good investment when talking to your agent, but now you might not need them so get rid of them and save.
  • Your location is important – Being located in less populated areas is a positive aspect when insuring your vehicles. Drivers who live in large cities have to deal with more traffic problems and a longer drive to work. Less people living in that area means fewer accidents.
  • Poor driving leads to higher costs – A bad driving record has a lot to do with how much you pay for insurance. Even one speeding ticket can boost insurance rates forty percent or more. Careful drivers get better rates compared to drivers with tickets. If you have flagrant violations such as reckless driving, hit and run or driving under the influence may find they need to file a proof of financial responsibility form (SR-22) with their state DMV in order to keep their license.
  • The more you drive the more you pay – The more you drive in a year’s time the more you’ll pay to insure your vehicle. Most insurance companies charge to insure your cars based on how the vehicle is used. Vehicles that are left in the garage get more affordable rates than those used for commuting. Verify your insurance policy properly reflects the correct driver usage. Incorrect usage on your 940 can result in significantly higher rates.

Advertising myths

Insurance companies such as Geico, State Farm and Progressive consistently run ads on TV and radio. They all seem to make the same claim about savings if you change to their company. How can each company say the same thing? It’s all in the numbers.

All companies can use profiling for the type of customer that earns them a profit. An example of a desirable insured could possibly be between 25 and 40, is a homeowner, and drives less than 10,000 miles a year. Any new insured who fits that profile is entitled to the best price and therefore will pay quite a bit less when switching companies.

Consumers who don’t meet this ideal profile will be quoted more money which usually ends up with the customer not buying. The ads state “customers who switch” not “people who quote” save that much. That is how companies can state the savings.

This emphasizes why you need to compare as many rates as you can. It’s just too difficult to predict which insurance companies will have the lowest Volvo 940 insurance rates.

Car insurance coverage information

Learning about specific coverages of a auto insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Liability insurance

Liability insurance protects you from damage or injury you incur to other’s property or people in an accident. It protects you from claims by other people, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 100/300/100 which stand for a $100,000 limit per person for injuries, $300,000 for the entire accident, and property damage coverage for $100,000. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against claims like bail bonds, legal defense fees and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy higher limits if possible.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage pay for bills such as prosthetic devices, rehabilitation expenses and X-ray expenses. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like falling objects, fire damage, damage from a tornado or hurricane and vandalism. The most a auto insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your Volvo 940.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision protection

Collision coverage will pay to fix damage to your 940 from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things such as sideswiping another vehicle, colliding with another moving vehicle and scraping a guard rail. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also bump up the deductible in order to get cheaper collision rates.

More effort can pay off

Cost effective 1994 Volvo 940 insurance can be found from both online companies and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates. Some insurance coverage companies may not provide online quoting and many times these small, regional companies only sell through independent insurance agents.

As you prepare to switch companies, don’t be tempted to reduce coverage to reduce premium. There are too many instances where someone sacrificed liability limits or collision coverage only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy the best coverage you can find at the best price while not skimping on critical coverages.

We just covered a lot of ways to get a better price on insurance. The most important thing to understand is the more rate quotes you have, the higher your chance of finding lower rates. Consumers could even find that the biggest savings come from some of the lesser-known companies.

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