Volvo V50 Insurance Rates in Riverside

A recent survey discovered that the vast majority of insurance customers have purchased from the same company for well over three years, and practically 40% of insurance customers have never compared insurance rates at all. California drivers could save as much as 35% a year by just comparing rate quotes, but they don’t know how much they could save if they switched.

To save the most money, the best way to find affordable Volvo V50 insurance is to annually compare prices from insurance carriers that insure vehicles in Riverside. Drivers can shop around by following these steps.

• Step 1: Gain an understanding of how insurance works and the changes you can make to drop your rates. Many rating factors that cause high rates like high-risk driving behaviors and bad credit can be eliminated by being financially responsible and driving safely. Read the full article for tips to help reduce prices and earn a bigger discount.
• Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like GEICO or State Farm, while agents who are independent can provide price quotes from multiple sources.
• Step 3: Compare the new rates to your current policy premium and determine if cheaper V50 coverage is available. If you can save money and change companies, ensure coverage does not lapse between policies.

A good tip to remember is that you use similar deductibles and liability limits on each quote and and to compare as many car insurance companies as possible. Doing this helps ensure the most accurate price comparison and a complete price analysis.

Locating the best rates in Riverside is quite easy if you know the best way to do it. If you are insured now or just want cheaper coverage, use these money-saving tips to reduce the price you pay and possibly find even better coverage. Shoppers only need to know how to quote multiple rates instantly.

Coverage information

The premium information shown below covers different insurance policy prices for Volvo V50 models. Being aware of how car insurance premiums are established can help drivers make smart choices when choosing a car insurance company.

Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Table data does not factor in specific location which can change coverage rates noticeably.

An analysis of deductible level

When buying car insurance, a common question is how low should you set your deductibles. The data tables below summarize the rate differences when you buy lower versus higher physical damage deductibles. The first rate table uses a $100 deductible for comp and collision and the second pricing table uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Table data does not factor in specific location information which can influence prices substantially.

We can derive from the above data that using a $100 deductible will cost you approximately $35 more each month or $420 for a full year than requesting the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you usually have more than 11 months between claim filings, you would probably save some money if you decide on a higher deductible.

The example below highlights how deductible choice and can change Volvo V50 insurance premiums for different categories of driver ages. Data assumes a married male driver, full coverage, and no discounts are factored in.

Cautious drivers save money

The example below shows how traffic citations and at-fault claims influence Volvo V50 insurance prices for different ages of insureds. The rates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are factored in.

Auto insurance policy discounts you can’t miss

Companies offering auto insurance don’t always list every possible discount very well, so below is a list a few of the more well known as well as the least known auto insurance savings. If you do not double check each discount you qualify for, it’s possible you qualify for a lower rate.

• Telematics Devices – Drivers who elect to allow driving data collection to look at when and where they use their vehicle by installing a telematics device such as State Farm’s In-Drive might get better premium rates if their driving habits are good.
• Driver Safety – Passing a course in defensive driving could cut 5% off your bill and also improve your driving technique.
• Driver’s Education for Students – Teen drivers should enroll and complete driver’s education as it can save substantially.
• New Vehicle Savings – Insuring a vehicle that is new can save you some money because new model year vehicles keep occupants safer.
• Full Payment Discount – If you pay your entire premium ahead of time as opposed to paying monthly you can actually save on your bill.

As a footnote on discounts, some credits don’t apply to the entire policy premium. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Just because it seems like you could get a free auto insurance policy, you aren’t that lucky. But all discounts will lower the premium cost.

The chart below compares Volvo V50 yearly insurance costs with and without discounts applied to the premium. The prices are based on a female driver, no violations or accidents, California state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, marriage, safe-driver, and homeowner discounts applied.

To see providers that offer multiple discounts in California, follow this link.

Specifics of your insurance policy

Having a good grasp of insurance aids in choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages found on most insurance policies.

Collision – This pays to fix your vehicle from damage resulting from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like hitting a parking meter, crashing into a ditch and rolling your car. This coverage can be expensive, so consider dropping it from older vehicles. You can also bump up the deductible on your V50 to get cheaper collision coverage.

Liability insurance – This coverage provides protection from injuries or damage you cause to a person or their property by causing an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 15/30/5 which stand for $15,000 bodily injury coverage, a limit of $30,000 in injury protection per accident, and a total limit of $5,000 for damage to vehicles and property.

Liability can pay for claims like bail bonds, court costs, loss of income, pain and suffering and attorney fees. The amount of liability coverage you purchase is up to you, but you should buy as high a limit as you can afford. California state law requires minimum liability limits of 15/30/5 but drivers should carry better liability coverage.

The next chart shows why buying minimum limits may not be adequate coverage.

Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for pain medications, funeral costs, rehabilitation expenses and prosthetic devices. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible

Comprehensive coverage (or Other than Collision) – This coverage covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like hitting a deer, hail damage, damage from flooding and fire damage. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured Motorist or Underinsured Motorist insurance – This coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for injuries to you and your family and damage to your Volvo V50.

Because many people have only the minimum liability required by law (15/30/5), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Keep this in mind when shopping around

As you go through the steps to switch your coverage, don’t be tempted to skimp on critical coverages to save a buck or two. There are too many instances where someone sacrificed physical damage coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to get the best coverage possible at the best price but still have enough coverage for asset protection.

Cheaper Volvo V50 insurance in Riverside is definitely available online and also from your neighborhood Riverside agents, so get free Riverside auto insurance quotes from both of them to get a complete price analysis. Some car insurance companies may not provide rate quotes online and usually these smaller providers work with independent insurance agents.

Additional detailed information can be found by following these links:

• Side Impact Crash Tests (iihs.org)
• What Car Insurance is Cheapest for Low Mileage Drivers in Riverside? (FAQ)
• Who Has Affordable Auto Insurance Quotes for Teenage Females in Riverside? (FAQ)
• Who Has the Cheapest Riverside Car Insurance for Immigrants? (FAQ)
• Who Has the Cheapest Car Insurance Rates for a Hyundai Santa Fe in Riverside? (FAQ)
• What Car Insurance is Cheapest for Teenage Males in Riverside? (FAQ)
• Top Signs Your Brakes are Giving Out (State Farm)
• Older Driver Statistics (Insurance Information Institute)