2004 Volvo S80 Insurance Rates

Purchasing low-cost insurance coverage online can be problematic for consumers not familiar with shopping for insurance online. When there are so many choices, how can consumers possibly compare the different rates to find the lowest price available?

Consumers should take time to get comparison quotes quite often since insurance rates change quite often. If you had the best price for S80 insurance a couple years back you can probably find a lower rate today. Starting right now, forget all the misinformation about insurance coverage because you’re about to learn one of the best ways to properly buy coverages and cut your premium.

What determines your Volvo S80 insurance premium

Smart consumers have a good feel for the rating factors that come into play when calculating the price you pay for insurance coverage. Having a good understanding of what influences your rates helps enable you to make changes that could result in much lower annual insurance costs.

  • How your age affects price – More mature drivers tend to be more responsible, tend to file fewer claims and get fewer tickets. Young drivers tend to be careless and easily distracted when driving and because of this, their insurance coverage rates are much higher.
  • Extra coverages can waste money – There are a lot of add-on coverages that can waste your money on your S80 policy. Insurance for personal injury protection, accident forgiveness and membership fees may be costing you every month. These coverages may sound good at first, but your needs may have changed so eliminate the coverages to reduce your premium.
  • Higher deductibles cost less – Physical damage insurance, termed comprehensive and collision coverage on your policy, is used to repair damage to your Volvo. Examples of covered claims are colliding with a building, collision with an animal, and burglary. Physical damage deductibles are how much you are willing to pay out-of-pocket before a claim is paid by your company. The more expense you’re willing to pay, the less your company will charge you for insurance for S80 insurance.
  • Better credit scores mean better rates – Having a bad credit history is a important factor in determining what you pay for insurance coverage. So if your credit score is not that good, you could save money insuring your 2004 Volvo S80 by improving your credit score. Drivers with high credit scores tend to file fewer claims and have better driving records as compared to drivers with lower credit scores.
  • Tickets mean higher rates – Whether or not you get tickets has a lot to do with how much you pay for insurance. Good drivers receive lower rates than people who have multiple driving citations. Only having one moving violation can increase rates forty percent or more. Drivers with severe tickets such as DWI, reckless driving or hit and run convictions are required to submit a SR-22 form with their state motor vehicle department in order to drive a vehicle legally.
  • Small claims can cost you – Auto insurance companies generally give discounts to people who are claim-free. If you are a frequent claim filer, you can pretty much guarantee either higher rates or even cancellation. Insurance coverage is intended to be relied upon for the large, substantial claims.

How to reduce 2004 Volvo S80 insurance rates

Insuring your fleet can be pricey, but there could be available discounts to help bring down the price. Some trigger automatically when you get a quote, but less common discounts must be requested specifically in order for you to get them.

  • Discount for New Cars – Putting insurance coverage on a new car is cheaper because new vehicles have to meet stringent safety requirements.
  • Early Switch Discount – A few companies offer discounts for buying a policy prior to your current policy expiring. It’s a savings of about 10%.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can receive discounts of 20% or more.
  • Anti-theft System – Cars that have factory anti-theft systems can help prevent theft and therefore earn up to a 10% discount.
  • Seat Belt Usage – Requiring all passengers to buckle their seat belts could cut 10% or more off your medical payments premium.
  • Defensive Driving Course – Successfully completing a defensive driving course could cut 5% off your bill depending on where you live.
  • Homeowners Pay Less – Being a homeowner can help you save on insurance because of the fact that having a home is proof that your finances are in order.
  • Life Insurance – Larger companies have lower rates if you buy auto and life insurance together.

Consumers should know that many deductions do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like all the discounts add up to a free policy, companies wouldn’t make money that way. Any amount of discount will bring down your premiums.

Car insurance companies that may offer these discounts include:

Before buying, ask each insurance company what discounts are available to you. Savings might not apply in every state.

Save $388 a year. For real?

Car insurance companies such as Progressive, Geico, Allstate and State Farm constantly bombard you with ads on television and other media. They all seem to have a common claim of big savings if you switch to their company. But how can every company make almost identical claims?

All companies are able to cherry pick for the right customer that makes them money. For example, a desirable insured could possibly be between the ages of 40 and 55, is a homeowner, and chooses high deductibles. A propective insured who matches those parameters is entitled to the best price and most likely will save when switching.

Drivers who don’t qualify for the requirements must pay a more expensive rate which leads to the driver buying from a lower-cost company. The ad wording is “customers who switch” not “people who quote” save that kind of money. That’s the way insurance companies can make the claims of big savings.

This illustrates why it’s extremely important to get as many comparisons as possible. It’s impossible to know the company that will have the lowest Volvo S80 insurance rates.

Tailor your coverage to you

When choosing proper insurance coverage, there is no one size fits all plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that can help discover whether or not you will benefit from professional help.

  • Why am I required to buy high-risk coverage?
  • How much liability coverage do I need in my state?
  • Am I covered when driving a rental car?
  • Is other people’s property covered if stolen from my vehicle?
  • Am I covered if hit by an uninsured driver?
  • If my pet gets injured in an accident are they covered?
  • Why does it cost so much to insure a teen driver?
  • Why am I required to get a high-risk car insurance policy?
  • Can I get a multi-policy discount?

If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.

Coverages available on your policy

Knowing the specifics of your auto insurance policy aids in choosing which coverages you need for your vehicles. Policy terminology can be difficult to understand and reading a policy is terribly boring.

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as theft, hitting a bird, fire damage and falling objects. The highest amount your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for collisions

Collision coverage covers damage to your S80 from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as rolling your car, sideswiping another vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to raise the deductible to get cheaper collision coverage.

Liability insurance

This can cover injuries or damage you cause to other people or property. This insurance protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Another option is a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage pays for claims such as emergency aid, funeral expenses, structural damage and medical services. How much coverage you buy is your choice, but consider buying as large an amount as possible.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP kick in for short-term medical expenses for pain medications, hospital visits, X-ray expenses and prosthetic devices. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist coverage

This provides protection when the “other guys” either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your Volvo S80.

Due to the fact that 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. Frequently these limits do not exceed the liability coverage limits.

The best insurance company isn’t always the cheapest

When buying insurance coverage, never skimp on coverage in order to save money. In many instances, drivers have reduced liability limits or collision coverage only to regret at claim time that it was a big mistake. Your goal should be to find the BEST coverage for the lowest price.

Cost effective 2004 Volvo S80 insurance can be found from both online companies as well as from independent agents, and you need to comparison shop both in order to have the best price selection to choose from. A few companies don’t offer online price quotes and most of the time these small, regional companies sell through independent agents.

In this article, we presented a lot of information how to lower your insurance rates. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. Drivers may discover the lowest rates come from a small mutual company.

Much more information about insurance is available at these links: