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1992 Volvo 240 Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Jun 12, 2015

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Trying to find lower insurance rates for your Volvo 240? Feel like you’re a prisoner to high-priced insurance? Believe me when I say you’re not the only one. Many insurers compete for your hard-earned dollar, so it’s not easy to compare every insurer to find the absolute best price available.

Save with discounts on 1992 Volvo 240 insurance

Car insurance is not cheap, but there are discounts available to cut the cost considerably. Certain discounts will be applied when you quote, but lesser-known reductions have to be specially asked for before they will apply. If they aren’t giving you every credit you deserve, you’re just leaving money on the table.

  • Anti-lock Brakes – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.
  • Drivers Ed for Students – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.
  • Military Rewards – Being on active duty in the military could be rewarded with lower premiums.
  • Safe Driver Discount – Safe drivers can get discounts for up to 45% lower rates for 240 insurance than drivers with accident claims.
  • Employee of Federal Government – Employees or retirees of the government can earn a discount up to 10% for 240 insurance depending on your company.
  • Save over 55 – Mature drivers may receive a discount up to 10% for 240 insurance.
  • Theft Prevention System – Cars that have factory anti-theft systems prevent vehicle theft and will save you 10% or more.
  • Driver Safety – Taking a defensive driving course could cut 5% off your bill if your company offers it.
  • Low Mileage – Low mileage vehicles could be rewarded with a substantially lower rate.
  • No Claims – Good drivers with no accidents pay much less as compared to bad drivers.

Drivers should understand that many deductions do not apply to the entire cost. Most only cut individual premiums such as comp or med pay. Just because you may think you can get free auto insurance, insurance companies aren’t that generous. Any amount of discount will cut your overall premium however.

For a list of providers offering insurance discounts, click here to view.

Which Insurance Coverage is Cheapest?

Cutting your insurance coverage rates is not a difficult process. Consumers just need to spend a few minutes on the computer comparing rates online with multiple companies. This can be done in just a few minutes using one of these methods.

  • The best way to get quotes for comparison is an all-inclusive rate comparison click here to open form in new window. This method eliminates the need for separate quote forms for each company you want a rate for. One form will return price quotes from insurance coverage companies with the best prices.
  • A more difficult way to analyze rates is spending the time to visit the website for every company you want to comare to complete a price quote. For examples sake, let’s say you want comparison quotes from USAA, Liberty Mutual and State Farm. You would have to take the time to go to each site to enter your coverage information, which is why most consumers use the first method. For a list of links to companies insuring cars in your area, click here.

Whichever way you use, be sure to compare exactly the same quote information with every price quote. If your comparisons have different limits and deductibles on each one it will be impossible to determine the best price for your Volvo 240.

Tailor your coverage to you

When buying adequate coverage, there really is no perfect coverage plan. Every situation is different so this has to be addressed. For instance, these questions may help highlight if your situation could use an agent’s help.

  • Am I covered if I drive in a foreign country?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • If my 1992 Volvo 240 is totaled, can I afford another vehicle?
  • Does insurance cover tools stolen from my truck?
  • Am I covered when using my vehicle for business?
  • Do I need roadside assistance coverage?
  • What is UM/UIM insurance?
  • Where can I find DUI or SR-22 insurance?
  • Am I covered when delivering products for my home-based business?

If you’re not sure about those questions but you know they apply to you, you might consider talking to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It’s fast, free and may give you better protection.

Specific coverages for a 1992 Volvo 240

Learning about specific coverages of auto insurance helps when choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and reading a policy is terribly boring. Listed below are the usual coverages available from auto insurance companies.


Liability insurance can cover damage that occurs to a person or their property in an accident. This insurance protects YOU against other people’s claims. It does not cover 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. You commonly see limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Another option is a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like court costs, funeral expenses and bail bonds. How much coverage you buy is your choice, but consider buying as much as you can afford.

Collision coverage

This will pay to fix damage to your 240 from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for claims like driving through your garage door, scraping a guard rail, backing into a parked car, sideswiping another vehicle and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision

This covers damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as falling objects, damage from flooding, hitting a deer and theft. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

This coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your 1992 Volvo 240.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally these coverages are similar to your liability insurance amounts.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for expenses like EMT expenses, pain medications, funeral costs and nursing services. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Summing up your car insurance search

Budget-conscious 1992 Volvo 240 insurance can be bought online in addition to many insurance agents, so you should compare both so you have a total pricing picture. A few companies do not provide online price quotes and these small insurance companies work with independent agents.

When you buy insurance online, it’s a bad idea to buy less coverage just to save a little money. In many cases, an accident victim reduced uninsured motorist or liability limits only to find out that it was a big mistake. Your focus should be to buy enough coverage for the lowest price.

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