It’s a known fact that auto insurance companies want to keep your business as long as possible. Consumers who shop for lower prices will, in all likelihood, switch to a new company because there is a high probability of finding coverage at a more affordable price. A study showed that drivers who shopped around saved as much as $850 each year compared to drivers who never shopped for cheaper rates.
If finding discount rates on insurance is the reason you’re reading this, learning the best ways to shop for car insurance can help make the process easier and more efficient.
If your goal is the lowest price, then the best way to get low-cost Volvo S60 insurance in Greensboro is to compare prices annually from different companies who provide car insurance in North Carolina.
- First, take a few minutes and learn about auto insurance and the measures you can control to prevent expensive coverage. Many factors that result in higher prices such as distracted driving and a not-so-good credit history can be controlled by being financially responsible and driving safely.
- Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from a single company like Progressive or Farmers Insurance, while agents who are independent can provide prices for many different companies.
- Third, compare the new rates to your current policy premium to see if a cheaper price is available in Greensboro. If you find better rates and switch companies, make sure there is no lapse in coverage.
One important bit of advice is to make sure you enter similar coverage information on each quote and and to analyze as many different companies as possible. Doing this guarantees an apples-to-apples comparison and a complete price analysis.
Locating the best rates in Greensboro can be made easier if you know where to look. If you’re already insured, you will most likely be able to buy cheaper car insurance using these tips. Comparison shoppers just have to use the most efficient way to buy car insurance online.
Finding a lower price on Volvo S60 insurance is an easy way to save money. All that’s required is to spend a little time to get quotes from different insurance companies.
Comparing price quotes online is fast and free, and it makes it obsolete to drive to each insurance agency near you. Quoting Volvo S60 insurance online makes this unnecessary unless you require the personal advice of a local agency. However, consumers can get prices online but have a local agent actually write the policy.
The providers in the list below are our best choices to provide price comparisons in North Carolina. If your goal is to find the best car insurance in NC, we suggest you compare several of them to get a more complete price comparison.
Components of Your Volvo S60 Insurance Prices
Part of the insurance buying process is learning the rating factors that help determine your policy premiums. If you have a feel for what influences your rates, this empowers consumers to make smart changes that may result in big savings. Multiple criteria are taken into consideration when pricing auto insurance. Some are obvious such as traffic violations, but other criteria are less obvious like where you live or your commute time.
- Combine policies and save – Most major insurance companies provide better rates to insureds who buy several policies from them in the form of a multi-policy discount. Even if you’re getting this discount consumers should still shop around to guarantee you are still saving the most. You may still be able to save money even if you have your coverage with different companies
- No insurance policy gaps is important – Driving your car without having proper coverage is a misdemeanor and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. And not only will insurance be more expensive, failure to provide proof of insurance may earn you fines or a revoked license.
- Being married brings a discount – Having a spouse can get you a discount when shopping for insurance. Having a significant other may mean you are more stable financially it has been statistically shown that drivers who are married file infrequent claims.
- Safety ratings are a factor – Vehicles with good safety scores get lower rates. Vehicles built for safety reduce the chance of injuries and any reduction in injury severity translates into savings for insurance companies which can result in lower premiums. If the Volvo S60 has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
- Improve your credit history and save – Having a bad credit history factor in determining your rates. Drivers with good credit tend to file fewer claims and have better driving records as compared to drivers with lower ratings. Therefore, if your credit history leaves room for improvement, you could save money insuring your Volvo S60 if you improve your credit rating.
- Your gender affects rates – Statistics have proven that women are safer drivers than men. This data doesn’t prove that females are better at driving than males. Males and females are in auto accidents in similar numbers, but the males get into accidents with more damage. Not only that, but men also get more serious tickets like driving under the influence (DUI).
- Traffic violations can increase rates – Attentive drivers get better prices than their less careful counterparts. Getting just one speeding ticket may cause rates to rise by as much as twenty percent. Drivers with multiple tickets such as DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to continue driving.
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Insurance loss data for a Volvo S60 – Insurers include the past claim history for a vehicle when they set coverage costs for each model. Models that are shown to have higher loss trends will be charged more to insure.
The next table illustrates the historical insurance loss data for Volvo S60 vehicles. For each coverage type, the claim probability for all vehicles, regardless of manufacturer or model, equals 100. Percentages below 100 indicate a favorable loss history, while numbers that are greater than 100 indicate a higher chance of having a claim or tendency to have larger claims.
Car Insurance Loss Data for Volvo S60 Models Specific Volvo Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo S60 4dr 2WD 103 85 83 76 72 65 Volvo S60 4dr 4WD 111 73 90 65 66 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
It may be expensive, but it’s not optional
Despite the fact that insurance is not cheap in Greensboro, insurance is required in North Carolina but it also protects you in many ways.
First, almost all states have compulsory liability insurance requirements which means state laws require specific limits of liability coverage in order to be legal. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a lien on your S60, it’s most likely the lender will make it a condition of the loan that you have comprehensive coverage to guarantee loan repayment. If you let the policy lapse, the bank will be required to insure your Volvo at an extremely high rate and force you to pay a much higher amount than you were paying before.
Third, insurance preserves not only your Volvo but also your financial assets. Insurance will pay for medical bills incurred in an accident. Liability coverage will also pay attorney fees if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of having insurance more than offset the price you pay, especially for larger claims. Despite what companies tell you, the average driver is wasting up to $865 each year so it’s very important to do a rate comparison each time the policy renews to be sure current rates are still competitive.