Are you tired of wondering where the money will come from to insure your Volvo every month? You have the same problem as the majority of other consumers in Washington.
Statistics show that a large majority of consumers have stayed with the same insurance company for four years or more, and approximately 40% of consumers have never quoted rates to find cheap coverage. Washington consumers could save an average of as much as $400 each year by just shopping around, but they don’t believe the rate savings if they switched to a cheaper policy. Consumers have multiple insurers to pick from, and although it’s nice to have a choice, too many choices makes it more difficult to compare rates and find the lowest cost auto insurance.
Affordable companies for Volvo V50 insurance in Washington
The companies in the list below are our best choices to provide free rate quotes in Washington. If the list has multiple companies, it’s highly recommended you compare several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|V50 AWD T5 R-Design||$274||$702||$384||$22||$114||$1,496||$125|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Washington minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium costs do not factor in specific garaging location which can increase or decrease price quotes considerably.
Comparison of car insurance rates by gender and age in Seattle
The chart below visualizes the comparison of Volvo V50 auto insurance costs for male and female drivers. The costs are based on no claims or driving violations, comp and collision included, $1,000 deductibles, marital status is single, and no discounts are factored in.
Comparison of policy deductibles
The diagram below demonstrates how deductible levels and can affect Volvo V50 yearly insurance costs for each age group. Data assumes a single male driver, full physical damage coverage, and no other discounts are factored in.
Volvo V50 full coverage rates compared to liability only
The illustration below shows the comparison of Volvo V50 annual premium costs with full coverage and liability only. The price estimates are based on a clean driving record, no claims, $250 deductibles, single female driver, and no discounts are factored in.
When to stop buying physical damage coverage
There is no exact rule for phasing out full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s pretend your Volvo V50 replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $5,000 after the policy deductible has been paid. If you are currently paying more than $500 annually to have full coverage, then you might consider buying liability only.
There are some conditions where removing full coverage is not recommended. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not remove full coverage.
The Volvo V50 Insurance Rate Equation
Lots of things are used when you quote your car insurance policy. Some are pretty understandable like your driving record, although some other factors are more transparent such as whether you are married or your vehicle rating.
The itemized list below are a partial list of the pieces used by companies to determine your rate level.
- Eliminate unneeded incidental coverages – Insurance companies have many additional extra coverages that may not really be needed when buying insurance. Coverage for things like replacement cost coverage, death and dismemberment, and Farm Bureau memberships could be just wasting money. The coverages may be enticing when deciding what coverages you need, but if you have no use for them remove them and pocket the money.
- Does car insurance cost less for gals? – Over time, data shows that women are safer drivers than men. However, this does not mean men are WORSE drivers than women. Both sexes have fender benders at about the same rate, but men have costlier accidents. In addition to higher claims, males also get higher numbers of serious violations like driving under the influence (DUI).
- Do you have a demanding job? – Did you know your insurance rates can be affected by your occupation? Occupations such as lawyers, social workers and stock brokers have higher premiums than the average policyholder due to high stress and long work days. Conversely, occupations like farmers, students and homemakers have lower than average premiums.
- Never let your insurance policy expire – Allowing your insurance policy to lapse will be a guaranteed way to increase your insurance rates. And not only will insurance be more expensive, not being able to provide proof of insurance may result in a hefty fine and possibly a revoked license. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Washington motor vehicle department to get your license reinstated.
- Low credit history equals high premiums – Having a good credit score will be a significant factor in determining your rates. So if your credit score leaves room for improvement, you may save money insuring your Volvo V50 if you clean up your credit. Consumers who have good credit tend to be less risk to insure than drivers with lower ratings.
- Driver age impacts rates – More mature drivers are more responsible, tend to file fewer claims, and get fewer tickets.Beginning drivers have a tendency to be careless and easily distracted when driving so they pay higher insurance rates.
- Deter theft and pay less – Selecting a car model with advanced anti-theft systems can save you a little every year. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart auto theft.
- Cautious drivers pay better premiums – Attentive drivers get better prices as compared to careless drivers. Even a single chargeable violation could increase your next policy renewal substantially. Drivers who get severe violations such as DWI, reckless driving or hit and run convictions may be required to file a SR-22 with their state in order to keep their license.
Discounts can help lower premiums on Volvo V50 insurance in Seattle
Companies don’t always list every policy discount very well, so the list below gives a summary of some of the best known and the harder-to-find insurance savings.
- Distant College Student Discount – Any of your kids living away from Seattle attending college and do not have access to a covered vehicle can receive lower rates.
- Student Discounts – Excelling in school may save you up to 25%. The good student discount can last up until you turn 25.
- Discount for Swiching Early – A few larger companies allow discounts for switching to them prior to your current V50 insurance policy expiration. The savings is around 10%.
- Driver Training Discounts – Completing a safe driver class could save 5% or more and easily recoup the cost of the course.
- Accident Forgiveness Coverage – This one is not really a discount per se, but a handful of insurance companies will let one accident slide without the usual rate increase so long as you haven’t had any claims prior to being involved in the accident.
- ABS Braking Discount – Cars, trucks, and SUVs that have steering control and anti-lock brakes have fewer accidents so companies give up to a 10% discount.
- No Claim Discounts – Insureds who avoid accidents and claims pay much less compared to insureds who have frequent claims or accidents.
- Driver’s Ed – Teen drivers should take driver’s ed class as it can save substantially.
Discounts save money, but please remember that some of the credits will not apply to the entire cost. A few only apply to the price of certain insurance coverages like liability and collision coverage. Even though it appears having all the discounts means you get insurance for free, you aren’t that lucky.
Large insurance companies and their offered discounts are:
- GEICO has savings for anti-theft, daytime running lights, air bags, good student, anti-lock brakes, federal employee, and membership and employees.
- Travelers policyholders can earn discounts including driver training, payment discounts, good student, save driver, hybrid/electric vehicle, and home ownership.
- Farm Bureau has discounts for good student, driver training, youthful driver, safe driver, and renewal discount.
- Liberty Mutual may have discounts that include newly retired, teen driver discount, newly married, multi-car, exclusive group savings, new vehicle discount, and multi-policy.
- American Family may include discounts for multi-vehicle, accident-free, air bags, early bird, good student, TimeAway discount, and defensive driver.
- Progressive offers discounts for online signing, continuous coverage, multi-policy, online quote discount, homeowner, multi-vehicle, and good student.
When getting free Seattle auto insurance quotes, it’s a good idea to each insurance company what discounts are available to you. A few discounts might not be available to policyholders in Seattle. To choose companies who offer cheap Volvo V50 insurance quotes in Seattle, click here to view.
When to have guidance from an insurance agency
Some people prefer to talk to an insurance agent and often times that is recommended Good insurance agents can point out coverage gaps and give you someone to call. An additional benefit of price shopping on the web is the fact that you can find the lowest rates but still work with a licensed agent. Buying insurance from neighborhood insurance agencies is especially important in Seattle.
After completing this form (opens in new window), your insurance coverage information is emailed to insurance agents in Seattle who can give free rate quotes for your insurance coverage. You won’t need to do any legwork since rate quotes are delivered to you directly. If you want to compare prices from a specific company, don’t hesitate to find their quoting web page and complete a quote there.
Selecting an insurance company should include more criteria than just a cheap quote. Here are some questions you might want to ask.
- What insurance companies do they work with in Seattle?
- What company holds the largest book of business for them?
- How long has their agency been open in Seattle?
- Are there any extra charges for paying monthly?
- Do they have cheaper tiers of coverage?
- Do they specialize in personal lines coverage in Seattle?
Once you have received good answers to your questions and a low price estimate, chances are good that you have found an insurance company that is professional and can adequately provide auto insurance.
Do I just need basic coverages?
When quoting and comparing the right insurance coverage, there really is no one size fits all plan. Your financial needs are unique and your policy should reflect that.
For instance, these questions can aid in determining whether your personal situation may require specific advice.
- Am I insured when driving a different vehicle?
- Should I have combined single limit or split liability limits?
- Am I missing any policy discounts?
- Should I rate my Volvo V50 as pleasure use or commute?
- Is my cargo covered for damage or theft?
- Am I covered if my car is in a flood?
- What is UM/UIM insurance?
- Is coverage enough to protect my assets?
- Exactly who is provided coverage by my policy?
- Do I have coverage for damage caused while driving under the influence?
If you’re not sure about those questions, you may need to chat with 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 It’s fast, free and can provide invaluable advice.
Be persistent and save
When trying to cut insurance costs, make sure you don’t reduce needed coverages to save money. There have been many situations where someone dropped uninsured motorist or liability limits only to regret that the small savings ended up costing them much more. Your objective should be to purchase plenty of coverage at an affordable rate and still be able to protect your assets.
We’ve covered some good ideas how you can lower your Volvo V50 insurance premium rates in Seattle. The key thing to remember is the more providers you compare, the better likelihood of getting affordable Seattle auto insurance quotes. You may even be surprised to find that the lowest premium rates are with a small local company. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as Progressive and GEICO.
Even more information is available by following these links:
- Side Impact Crash Tests (iihs.org)
- What Car Insurance is Cheapest for a 20 Year Old Male in Seattle? (FAQ)
- What Car Insurance is Cheapest for a Toyota Tacoma in Seattle? (FAQ)
- What Auto Insurance is Cheapest for Uber Drivers in Seattle? (FAQ)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Prom Night Tips for Teen Drivers (State Farm)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)