2003 Volvo S40 Insurance Rates – 7 Tips to Save

Sick and tired of not being able to afford each month for car insurance? You are no different than millions of other consumers.

Lots of insurers contend for your business, and it can be difficult to compare rates to get the best price available.

If you currently have a car insurance policy, you should be able to lower your premiums substantially using these techniques. Finding the best rates is easy if you know what you’re doing. But vehicle owners benefit from understanding the methods companies use to sell insurance online because it can help you find the best coverage.

Cut your auto insurance rates with these seven discounts

The cost of insuring your cars can be expensive, buy you may qualify for discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you quote, but less common discounts must be asked for prior to getting the savings.

  • Early Switch Discount – Select companies give a discount for switching policies prior to your current policy expiration. It’s a savings of about 10%.
  • New Vehicle Savings – Putting insurance coverage on a new car is cheaper compared to insuring an older model.
  • Theft Prevention Discount – Cars that have factory anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
  • Discount for Life Insurance – Companies who offer life insurance give better rates if you take out auto and life insurance together.
  • Bundle and Save – When you combine your home and auto insurance with the same company you will save approximately 10% to 15%.
  • Safe Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates for S40 insurance than drivers with accident claims.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes are safer to drive and therefore earn up to a 10% discount.

As a disclaimer on discounts, most discounts do not apply to the entire policy premium. Most only reduce specific coverage prices like liability, collision or medical payments. Even though it may seem like you can get free auto insurance, auto insurance companies aren’t that generous. But all discounts will help reduce the cost of coverage.

Insurance companies that may have these benefits are:

Double check with every prospective company how you can save money. Some discounts might not apply in your area.

You are unique and your insurance should be too

When it comes to buying coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different so your insurance should reflect that For example, these questions could help you determine if you will benefit from professional help.

  • What is covered by UM/UIM coverage?
  • Are rental cars covered under my policy?
  • What is the ISO rating for a 2003 Volvo S40?
  • Is a fancy paint job covered?
  • How much can I save by bundling my policies?
  • Can I drive in Mexico and have coverage?
  • Am I getting all the discounts available?
  • Does having multiple vehicles earn me a discount?

If you’re not sure about those questions but a few of them apply, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance companies in your area.

Coverages available on your car insurance policy

Knowing the specifics of your policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Below you’ll find typical coverages found on most car insurance policies.

UM/UIM Coverage

Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Volvo S40.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Most of the time these limits do not exceed the liability coverage limits.

Coverage for collisions

Collision insurance covers damage to your S40 resulting from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like colliding with a tree, hitting a parking meter and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

Medical costs insurance

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses such as rehabilitation expenses, X-ray expenses and dental work. They are used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision

This pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims such as hail damage, falling objects and a broken windshield. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Auto liability

This protects you from damages or injuries you inflict on a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as emergency aid, bail bonds, pain and suffering, court costs and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Never pay more for less

We just covered many tips how you can compare 2003 Volvo S40 insurance prices online. It’s most important to understand that the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the biggest savings come from the least-expected company. Regional companies may often insure only within specific states and give getter rates compared to the large companies like Allstate and Progressive.

Affordable insurance is definitely available both online as well as from independent agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance companies don’t offer you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

To learn more, link through to these articles: