2004 Volvo V70 Insurance Rates – 8 Savings Tips

Feel like you’re a prisoner to an overpriced insurance coverage policy? Believe me, many consumers are feeling buyer’s remorse and feel like there’s no way out.

With so many choices of insurance companies, it can be hard to pick the most affordable insurance company.

Comprehensive Insurance Comparison

Shopping for lower insurance rates can be exhausting if you don’t know the easiest way. You can waste a few hours (or days) driving to agents in your area, or you can utilize online quoting to get prices fast.

All the larger companies take part in a program that allows shoppers to only type in their quote data once, and each participating company can provide price quotes based on the submitted data. This eliminates the need for form submissions for every insurance company.

To access this free quoting program, click to open in new window.

The one downside to using this type of system is you don’t know exactly which insurance companies to get pricing from. So if you want to select specific providers to compare prices, we have a page of companies who write insurance in your area. Click here to view list.

It’s your choice how you get your quotes, but double check that you are using exactly the same quote information for each price quote. If you enter unequal deductibles or liability limits it will be very difficult to determine the best price for your Volvo V70. Just a small difference in insurance coverages may result in large price differences. And when comparing insurance rates, know that comparing a large number of companies gives you a better chance of getting lower pricing.

Are insurance coverage companies telling the truth?

Insurance coverage providers like Geico, State Farm and Progressive consistently run ads on television and other media. They all say the same thing about savings if you change your policy. How can each company claim to save you money? It’s all in the numbers.

All companies have a certain “appetite” for the driver that earns them a profit. For instance, a preferred risk might be profiled as between 25 and 40, has no prior claims, and has a high credit rating. A propective insured who matches those parameters will qualify for the lowest rates and is almost guaranteed to save quite a bit of money when switching.

Drivers who are not a match for the requirements will be quoted higher premiums and ends up with business going elsewhere. The ad wording is “drivers who switch” but not “drivers who get quotes” save that much. That’s the way insurance companies can make those claims. This emphasizes why you absolutely need to get a wide range of price quotes. You cannot predict which insurance companies will provide you with the cheapest Volvo V70 insurance rates.

Lower rates by qualifying for these eight discounts

Companies offering auto insurance don’t list every available discount in an easy-to-find place, so the following is a list of some of the best known and the harder-to-find discounts you could be receiving.

  • Senior Discount – If you’re over the age of 55, you can possibly qualify for reduced rates for V70 coverage.
  • Drivers Education – Have your child take driver’s ed class if it’s offered in school.
  • Anti-theft Discount – Anti-theft and alarm systems are stolen less frequently and earn discounts up to 10%.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems are safer to drive and qualify for as much as a 10% discount.
  • Multiple Cars – Having all your vehicles with the same company qualifies for this discount.
  • Drive Safe and Save – Drivers who avoid accidents can pay as much as 50% less for V70 coverage than less cautious drivers.
  • Air Bag Discount – Factory air bags or motorized seat belts can qualify for discounts up to 30%.
  • Good Students Pay Less – A discount for being a good student can save 20 to 25%. This discount can apply well after school through age 25.

Drivers should understand that most of the big mark downs will not be given to the entire cost. Some only apply to specific coverage prices like medical payments or collision. So when it seems like you could get a free insurance policy, companies wouldn’t make money that way.

For a list of companies offering insurance discounts, click here to view.

Car insurance is unique, just like you

When buying proper insurance coverage for your vehicles, there is no cookie cutter policy. Every insured’s situation is different so your insurance should reflect that These are some specific questions may help highlight whether or not you may require specific advice.

  • How much can I save by bundling my policies?
  • Does my 2004 Volvo V70 qualify for pleasure use?
  • Is my Volvo V70 covered if I use it for business?
  • How much underlying liability do I need for an umbrella policy?
  • Is my teen driver covered when they drive my company car?
  • Should I buy additional glass protection?
  • Is other people’s property covered if stolen from my vehicle?
  • At what point should I drop full coverage?
  • Should I get collision insurance on every vehicle?

If you’re not sure about those questions, you might consider talking to a licensed agent. If you don’t have a local agent, take a second and complete this form or you can also visit this page to select a carrier

Parts of your insurance policy

Knowing the specifics of your insurance policy helps when choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find typical coverages found on most insurance policies.

Coverage for liability

This can cover injuries or damage you cause to people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 50/100/50 that means you have $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage pays for claims such as emergency aid, attorney fees, medical expenses, pain and suffering and bail bonds. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford.

Collision protection

Collision coverage will pay to fix damage to your V70 from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things like colliding with another moving vehicle, rolling your car, backing into a parked car, colliding with a tree and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your 2004 Volvo V70.

Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive coverage

This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like hitting a bird, damage from flooding, hail damage and damage from a tornado or hurricane. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP pay for expenses like X-ray expenses, rehabilitation expenses and chiropractic care. They can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. They cover all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible

In any little way, save everyday

While you’re price shopping online, do not reduce coverage to reduce premium. There have been many situations where someone dropped uninsured motorist or liability limits to discover at claim time that the savings was not a smart move. The aim is to purchase plenty of coverage at an affordable rate, not the least amount of coverage.

We just covered a lot of techniques to lower your 2004 Volvo V70 insurance rates. The key thing to remember is the more rate comparisons you have, the higher the chance of saving money. You may even find the best price on car insurance is with a company that doesn’t do a lot of advertising. These companies often have lower prices on specific markets than the large multi-state companies such as State Farm, Geico and Nationwide.

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