2006 Volvo V50 Car Insurance Rates – 10 Policy Discounts

Looking for cheaper car insurance rates for your Volvo V50? I can’t think of a single person who likes having to buy car insurance, in particular when the cost is too high. Many auto insurance companies compete for your hard-earned dollar, and because of this it can be hard to compare insurers and get the best coverage at the lowest price

It’s smart to check car insurance prices once or twice a year since insurance rates are rarely the same from one policy term to another. If you had the best deal on V50 coverage two years ago you may be paying too much now. So just block out anything you think you know about car insurance because you’re going to get a crash course in the fastest and easiest way to properly buy coverages and cut your premium.

Take advantage of discounts

Car insurance companies don’t necessarily list every discount in an easy-to-find place, so the following is a list of some of the best known as well as the least known ways to save on auto insurance. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

  • Own a Home – Simply owning a home may earn you a small savings because owning a home shows financial diligence.
  • Accident Forgiveness – A few companies permit an accident before your rates go up if you are claim-free for a particular time prior to the accident.
  • Multi-policy Discount – When you combine your home and auto insurance with one company you will save at least 10% off all policies.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.
  • Student Driver Training – Cut your cost by having your teen driver complete a driver education course in school.
  • Low Mileage – Keeping the miles down on your Volvo can earn a substantially lower rate.
  • Early Switch Discount – Select companies give a discount for switching policies before your current expiration date. It’s a savings of about 10%.
  • Air Bag Discount – Cars that have air bags or automatic seat belts can qualify for discounts of up to 25% or more.
  • Discount for Life Insurance – Companies who offer life insurance give a break if you buy a life insurance policy as well.
  • Accident Free – Drivers who don’t have accidents pay less when compared to drivers who are more careless.

Consumers should know that most credits do not apply to the overall cost of the policy. A few only apply to individual premiums such as comprehensive or collision. So when it seems like you would end up receiving a 100% discount, companies wouldn’t make money that way.

To see a list of companies with the best auto insurance discounts, click this link.

Can you really save that much by switching?

Drivers can’t get away from ads that promise big savings from companies such as State Farm, GEICO and Progressive. They all have a common claim about savings if you change your policy.

How do they all say the same thing? It’s all in the numbers.

All companies have a certain “appetite” for the type of driver that makes them money. For instance, a driver they prefer could possibly be between 25 and 40, is a homeowner, and has a short commute. A driver who fits that profile is entitled to the best price and therefore will save when switching.

Potential insureds who don’t qualify for these standards will be quoted a higher premium and ends up with the customer not buying. Company advertisements say “customers that switch” not “people who quote” save that much. That’s why insurance companies can confidently advertise the savings. This emphasizes why drivers should get as many comparisons as possible. It’s not possible to predict which insurance companies will give you the biggest savings on Volvo V50 insurance.

How to know if you need help

When choosing coverage, there is no perfect coverage plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions may help highlight if your insurance needs would benefit from an agent’s advice.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • I have health insurance so do I need medical payments coverage?
  • Why do I need rental car insurance?
  • Is there coverage for injuries to my pets?
  • How much liability coverage do I need in my state?
  • Will my insurance pay for OEM parts?

If you don’t know the answers to these questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.

Insurance policy specifics

Understanding the coverages of insurance can be of help when determining appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Below you’ll find the normal coverages available from insurance companies.

Collision – Collision insurance will pay to fix damage to your V50 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things like backing into a parked car, sideswiping another vehicle, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.

Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills such as dental work, ambulance fees and doctor visits. The coverages can be utilized in addition to your health insurance program or if you are not covered by health insurance. It covers both the driver and occupants as well as being hit by a car walking across the street. PIP is only offered in select states but can be used in place of medical payments coverage

Comprehensive or Other Than Collision – Comprehensive insurance covers damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like vandalism, falling objects, theft and damage from getting keyed. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

UM/UIM Coverage – This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked.

Liability – This coverage will cover damage or injury you incur to other’s property or people in an accident. It protects you against claims from other people, and does not provide coverage for your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 that translate to a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability coverage pays for claims like funeral expenses, structural damage, repair costs for stationary objects, loss of income and court costs. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible.

A fool and his money are soon parted

Cheap 2006 Volvo V50 insurance is possible on the web and also from your neighborhood agents, and you should be comparing both to have the best rate selection. Some insurance providers may not provide online quoting and many times these smaller companies only sell through independent insurance agents.

We’ve covered a lot of tips how to compare insurance prices online. The key thing to remember is the more providers you compare, the better your comparison will be. Consumers may even find the lowest priced insurance comes from some of the lesser-known companies. They may cover specific market segments cheaper as compared to the big name companies such as GEICO and State Farm.

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