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1993 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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Finding lower premiums on auto insurance is nearly impossible for people who are new to comparison shopping online. Consumers have so many options that it can turn into a lot of work to locate the lowest price.

It’s a good idea to compare prices quite often since rates change frequently. Even if you got the best price for 240 insurance a few years ago the chances are good that you can find a lower rate today. So ignore everything you know about auto insurance because I’m going to teach you one of the best ways to reduce your cost while increasing coverage.

If you currently have car insurance, you stand a good chance to be able to save some money using this strategy. This article will familiarize you with how car insurance quotes work. Although drivers must know the methods companies use to determine prices.

Volvo 240 insurance rates can be determined by these details

An important part of buying insurance is that you know the rating factors that help determine auto insurance rates. Knowing what determines base rates helps enable you to make changes that will entitle you to better auto insurance rates.

The following are a few of the “ingredients” that factor into prices.

  • Tickets mean higher rates – A bad driving record has a big impact on rates. Careful drivers receive lower rates than bad drivers. Just one moving violation can boost insurance rates by twenty percent. If you have serious violations like reckless driving, hit and run or driving under the influence may find they need to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to continue driving.
  • One company can mean more discounts – Many auto insurance companies provide better rates to customers who consolidate policies with them, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to compare other company rates to confirm you are receiving the best rates possible.
  • Men fork out a little more – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are WORSE drivers than women. They both tend to get into accidents at about the same rate, but the males cause more damage. They also get cited for more serious violations like DUI and reckless driving. Teenage male drivers are several times more likely to be in an accident and thus pay the highest rates.
  • Your auto insurance rates can be influenced by your job – Did you know that where you work can have an impact on rates? Occupations such as judges, business owners and dentists are shown to have the highest average rates attributed to high stress levels and long work hours. Other occupations such as scientists, historians and performers pay the least for 240 insurance.
  • Don’t buy coverages you don’t need – There are many additional coverages that you can buy on your auto insurance policy. Insurance for rental car reimbursement, towing coverage and motor club memberships may be costing you every month. These coverages may sound good when talking to your agent, but if you don’t need them eliminate the coverages to reduce your premium.
  • Higher deductibles cost less – Your deductibles represent how much money you are required to spend out-of-pocket before a claim is paid by your company. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some instances where coverage would apply would be colliding with a building, vandalism, or theft. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive for 240 insurance.
  • Lower rates come with age – Older insureds are viewed as being more responsible, file fewer claims and receive fewer citations. Teenage drivers have a tendency to be less responsible when behind the wheel therefore auto insurance rates are much higher.
  • Small claims can cost you – Auto insurance companies generally give discounts to policyholders who do not file claims often. If you frequently file small claims, you can look forward to either policy cancellation or increased premiums. Car insurance is intended to be relied upon for larger claims.

Comparison of Auto Insurance

When shopping for auto insurance there are multiple ways of comparing rates from auto insurance companies in your area. The recommended way to compare 1993 Volvo 240 insurance prices is to use the internet to compare rates. This can be accomplished using a couple different methods.

  • The single most time-saving way to find the lowest comparison rates would be an industry-wide quote request form like this one (opens in new window). This method prevents you from having to do a different quote for each company you want a rate for. A single form will return price quotes from many national carriers. It’s the fastest way to compare.
  • A harder way to compare prices is to take the time to go to each company’s website and request a quote. For examples sake, let’s say you want rates from Allstate, Farmers and GEICO. You would have to go to every website and enter your policy data, which is why most consumers use the first method. To view a list of companies in your area, click here.

It doesn’t matter which method you choose, just make darn sure you compare identical deductibles and coverage limits for each price quote. If you compare different deductibles it will be next to impossible to determine the best price for your Volvo 240. Having just a slight variation in coverage limits can make a big difference in price. And when price shopping your coverage, having more price comparisons provides better odds of finding lower pricing.

Be sure to get all your discounts

The cost of insuring your cars can be expensive, but you can get discounts that many people don’t even know exist. Certain discounts will be triggered automatically at the time of quoting, but less common discounts must be specially asked for prior to getting the savings.

  • Clubs and Organizations – Participating in certain professional organizations may earn a discount on insurance for 240 insurance.
  • Use Seat Belts – Drivers who require all occupants to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.
  • Military Discounts – Being deployed with a military unit can result in better rates.
  • Life Insurance – Larger companies have better rates if you take out life insurance from them.
  • Multi-policy Discount – If you have multiple policies with the same company you will save approximately 10% to 15%.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and earn discounts up to 10%.
  • Sign Early and Save – Some insurance companies reward drivers for buying a policy prior to your current policy expiring. It can save you around 10%.
  • Discount for Good Grades – A discount for being a good student can earn a discount of 20% or more. The good student discount can last up until you turn 25.

It’s important to understand that most discounts do not apply to the entire cost. Most only reduce the cost of specific coverages such as collision or personal injury protection. So when it seems like you could get a free insurance policy, insurance companies aren’t that generous. But any discount will bring down your overall premium however.

Insurance companies that possibly offer these money-saving discounts include:

Before buying, ask each insurance company what discounts are available to you. Savings may not apply in every state.

How do I know if I need professional advice?

When buying adequate coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s situation is unique.

These are some specific questions might point out if your situation could use an agent’s help.

  • Does my 1993 Volvo 240 qualify for pleasure use?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Is business equipment covered while in my vehicle?
  • Does coverage extend to a rental car in a foreign country?
  • Are split liability limits better than a combined single limit?
  • If my pet gets injured in an accident are they covered?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • When should I remove comp and collision on my 1993 Volvo 240?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, take a second and complete this form.

Car insurance 101

Learning about specific coverages of your policy can be of help when determining appropriate coverage at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring.

Collision – Collision insurance pays for damage to your 240 caused by collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for claims such as driving through your garage door, damaging your car on a curb and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Comprehensive protection – This coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as hitting a bird, theft and a tree branch falling on your vehicle. The highest amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical expense coverage – Coverage for medical payments and/or PIP provide coverage for immediate expenses for things like rehabilitation expenses, doctor visits, EMT expenses, dental work and prosthetic devices. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

Liability car insurance – Liability coverage can cover injuries or damage you cause to other people or property that is your fault. It protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims such as emergency aid, repair bills for other people’s vehicles and medical services. The amount of liability coverage you purchase is up to you, but consider buying as much as you can afford.

Uninsured or underinsured coverage – This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

And the best car insurance company is…

Drivers leave their current company for many reasons like being labeled a high risk driver, unfair underwriting practices, lack of trust in their agent or even high rates after DUI convictions. Regardless of your reason for switching companies, finding the right insurance provider can be easier than you think.

As you go through the steps to switch your coverage, never skimp on coverage in order to save money. There are a lot of situations where someone sacrificed full coverage only to discover later that their decision to reduce coverage ended up costing them more. The aim is to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

In this article, we covered many tips how you can lower your 1993 Volvo 240 insurance rates. The key concept to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers could even find that the best prices are with the smaller companies.

Additional information is located at the links below

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