Amazingly, a recent NerdWallet.com study showed that a large majority of drivers in Texas have stayed with the same insurance company for four years or more, and about 40% of consumers have never compared rate quotes at all. Many consumers in the United States could save almost $859 every year by just comparing rate quotes, but most just don’t grasp the amount of money they would save if they switched to a cheaper policy.
It takes a little time, but the best way to find affordable Volvo S60 insurance is to make a habit of regularly comparing prices from different companies that insure vehicles in Lubbock.
- First, take a little time to learn about policy coverages and the modifications you can make to lower rates. Many rating factors that result in higher prices such as speeding tickets, accidents and a less-than-favorable credit rating can be controlled by improving your driving habits or financial responsibility.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only provide price estimates from a single company like GEICO or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies.
- Third, compare the price quotes to your existing rates to determine if switching companies saves money. If you find a better price and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, provide adequate notice to your current company to cancel the current policy and submit any necessary down payment along with the completed application for your new coverage. Be sure to keep your new certificate verifying coverage in an easily accessible location.
One thing to remember is to try to use the same amount of coverage on every quote and and to get price estimates from as many different insurance providers as possible. Doing this guarantees an accurate price comparison and a better comparison of the market.
Buying the cheapest insurance in Lubbock is much easier if you know where to start. Practically every vehicle owner who requires lower cost insurance stands a good chance to be able to reduce their rates. But Texas car owners must comprehend how the larger insurance companies sell online and use it to your advantage.
Seven Things That Influence Your Insurance Rates
Many different elements are used in the calculation when you get your auto insurance bill. Some are pretty understandable like an MVR report, but other criteria are less obvious like your continuous coverage or how financially stable you are. Part of the auto insurance buying process is learning some of the factors that are used to determine the price you pay for auto insurance. If you have some idea of what positively or negatively impacts your premiums, this helps enable you to make changes that may reward you with cheaper rates.
Save money by raising deductibles – The deductibles represent how much money you are required to spend before a claim is paid by your company. Protection for physical damage, also called ‘full coverage’, protects your car from damage. Some examples of covered claims are collision with another vehicle, vandalism, and damage from wind. The more damage repair cost you are required to pay out-of-pocket, the less your company will charge you for insurance.
Reduce auto insurance rates by driving cars with good safety ratings – Safer cars tend to have better insurance rates. These vehicles protect occupants better and fewer serious injuries means less claims paid which can mean better rates for you. If your Volvo has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
Never let your auto insurance policy lapse – Allowing your coverage to lapse is a fast way to increase your renewal premiums. And not only will insurance be more expensive, getting caught without coverage may earn you a revoked license or a big fine.
Having a spouse can lower costs – Walking down the aisle may cut your premiums compared to being single. Having a spouse generally demonstrates drivers are more mature and it’s proven that drivers who are married file infrequent claims.
Liability insurance preserves assets – Your policy’s liability coverage provides coverage if ever you are responsible for physical damage or personal injury to other. Your liability coverage provides legal defense coverage starting from day one. Liability insurance is quite affordable compared to comp and collision, so do not cut corners here.
High performance vehicles cost more to insure – The type of car, truck or SUV you are buying insurance for makes a substantial difference in the rate you pay. The lowest performance passenger cars usually have the lowest rates, but that’s not the only thing that factors into the final price.
Women pay lower premiums – Statistics show that women are safer drivers than men. Now that doesn’t mean females are better drivers. Males and females have auto accidents in similar percentages, but the male of the species tend to have more serious accidents. Men also get ticketed for serious violations like DUI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and therefore are the most expensive to insure.
Loss statistics for a Volvo S60 – Insurance companies factor in insurance loss information when setting rates for each model. Models that the data determines to have a trend towards higher claims will have a higher premium rate.
The table below outlines the collected loss data for Volvo S60 vehicles. For each coverage type, the statistical loss for all vehicles combined as an average is represented as 100. Numbers below 100 indicate a favorable loss history, while values that are 100 or greater indicate more frequent losses or larger claims.
| Vehicle Make and 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 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Companies offer many discounts on Volvo S60 insurance in Lubbock
Some insurers don’t necessarily list every policy discount in a way that’s easy to find, so the list below details some of the more common and the more hidden discounts that you may qualify for.
- Seat Belts Save – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Low Miles Discount – Maintaining low annual mileage could be rewarded with cheaper premium rates.
- Discount for Multiple Policies – If you can bundle your auto and home insurance with one insurance company you could get a discount of up to 20% and get you inexpensive Volvo S60 insurance in Lubbock.
- Drivers Education – Have your child enroll and complete driver’s education if offered at their school.
- Sign Early and Save – Some larger companies reward drivers for switching policies early. It’s a savings of about 10%.
- Anti-theft System – Vehicles equipped with tracking devices and advanced anti-theft systems are stolen with less frequency and qualify for as much as a 10% discount.
It’s important to understand that some of the credits will not apply to the whole policy. Some only reduce the price of certain insurance coverages like comprehensive or collision. So even though you would think you can get free auto insurance, it doesn’t quite work that way.
Companies and a partial list of their discounts can be found below.
- GEICO policyholders can earn discounts including seat belt use, good student, anti-theft, military active duty, and defensive driver.
- USAA offers premium reductions for defensive driver, military installation, family discount, annual mileage, and loyalty savings.
- Progressive may include discounts for homeowner, continuous coverage, multi-vehicle, multi-policy, online signing, online quote discount, and good student.
- American Family offers discounts for mySafetyValet, air bags, bundled insurance, good driver, defensive driver, and good student.
- Esurance has discounts for good driver, renters, Pac-12 alumni, multi-car, defensive driver, and anti-theft.
- Farmers Insurance may offer discounts for bundle discounts, mature driver, early shopping, teen driver, good student, alternative fuel, and youthful driver.
- State Farm may have discounts that include passive restraint, Steer Clear safe driver discount, multiple policy, defensive driving training, good driver, student away at school, and safe vehicle.
If you need inexpensive Lubbock car insurance quotes, ask each insurance company how many discounts you can get. Some of the earlier mentioned discounts might not be offered in Lubbock.
Affordable insurance premiums are out there
Some insurance providers don’t offer online price quotes and these smaller providers only sell through independent agents. Cheap Volvo S60 insurance in Lubbock can be found on the web as well as from independent agents in Lubbock, and you should compare rates from both in order to have the best chance of saving money.
When trying to cut insurance costs, never skimp on coverage in order to save money. In many cases, drivers have reduced liability limits or collision coverage only to find out that it was a big mistake. The ultimate goal is to purchase plenty of coverage at the best cost while not skimping on critical coverages.
You just read a lot of tips how to shop for Volvo S60 insurance online. It’s most important to understand that the more you quote Lubbock car insurance, the higher your chance of finding affordable Lubbock car insurance quotes. Consumers could even find that the best price on insurance is with an unexpected company.
Additional detailed information is located in the articles below:
- Car Insurance FAQ (Trusted Choice)
- Who Has Cheap Lubbock Auto Insurance for a Hyundai Santa Fe? (FAQ)
- Who Has Affordable Car Insurance Rates for 17 Year Olds in Lubbock? (FAQ)
- What Auto Insurance is Cheapest for a Honda Civic in Lubbock? (FAQ)
- How Much is Lubbock Auto Insurance for a Chevrolet Equinox? (FAQ)
- What is the Best Car Insurance in Lubbock, TX? (FAQ)
- How Much is Lubbock Car Insurance for First-time Drivers? (FAQ)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Safety Features for Your New Car (State Farm)
- Help Your Teen Be a Better Driver (State Farm)
- Winter Driving (Insurance Information Institute)