Cheapest 2004 Volvo S60 Insurance Rates in 2023
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UPDATED: May 12, 2022
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Want cheaper insurance rates for your Volvo S60? Shopping online for insurance can be complicated if you’re new to online price comparisons. But relax because comparing prices is actually very simple.
Finding the best rates is quite easy. Just about anyone who is shopping for car insurance stands a good chance to be able to lower their premiums. But car owners should learn the methods companies use to market insurance on the web.
Why you might be paying too much to insure your Volvo S60
Consumers need to have an understanding of the different types of things that help determine insurance rates. Knowing what influences your rates helps enable you to make changes that can help you get big savings.
- Higher safety ratings means cheaper insurance – Vehicles with good safety scores are cheaper to insure. Safe vehicles protect occupants better and fewer injuries means less money paid by your insurance company and more competitive rates for policyholders. If your Volvo S60 is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
- Liability coverage protects you – Liability coverage provides coverage if ever a court rules you are at fault for damages from an accident. Liability provides legal defense up to the limits shown on your policy. This coverage is very inexpensive when compared with rates for comp and collision, so do not cut corners here.
- Men are more aggressive – Statistics have proven women are more cautious behind the wheel. Now that doesn’t mean men are WORSE drivers than women. Men and women tend to get into accidents in similar percentages, but the male of the species tend to have more serious accidents. Men also tend to get cited for more serious violations such as DWI and reckless driving.
- Tickets mean higher rates – Your driving citation history has a big impact on rates. Just one ticket can increase rates by twenty percent. Good drivers have lower premiums than bad drivers. Drivers who have serious citations such as DWI, reckless driving or hit and run convictions may need to file a SR-22 with their state DMV in order to continue driving.
Cut your premium with discounts
Companies offering auto insurance don’t always advertise all their discounts in an easy-to-find place, so the following is a list of both the well known and the more hidden discounts you could be receiving.
- No Accidents – Good drivers with no accidents pay less when compared to accident-prone drivers.
- Low Mileage – Keeping the miles down on your Volvo could qualify for lower rates on the low mileage vehicles.
- Braking Control Discount – Cars that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more.
- Paperless Signup – Certain companies may give you up to $50 simply for signing on their website.
- Save over 55 – Older drivers may qualify for a small decrease in premiums on S60 coverage.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use a seat belt can save 10% or more off your PIP or medical payments premium.
- Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll in driver’s education if it’s offered in school.
- Employee of Federal Government – Simply working for the federal government may qualify you for a discount on S60 coverage with select insurance companies.
- Memberships – Participating in certain professional organizations could qualify you for a break when shopping for car insurance on S60 coverage.
As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. Most cut individual premiums such as liability, collision or medical payments. Just because it seems like you would end up receiving a 100% discount, it doesn’t quite work that way.
For a list of providers who offer car insurance discounts, follow this link.
Slick advertising tricks that work
Companies like Allstate and Progressive consistently run ads in print and on television. All the ads make an identical promise about savings if you change to them. How can each company make almost identical claims?
All the different companies can use profiling for the type of customer they prefer to insure. For example, a desirable insured might be profiled as between the ages of 40 and 55, has no tickets, and drives less than 7,500 miles a year. A propective insured who fits that profile gets the lowest rates and is almost guaranteed to save quite a bit of money when switching.
Potential insureds who do not match these standards will be charged a more expensive rate and ends up with business not being written. Company advertisements say “customers who switch” not “everyone that quotes” save that kind of money. That’s why insurance companies can make the claims of big savings. That is why it’s extremely important to get as many quotes as possible. Because you never know the company that will have the lowest Volvo S60 insurance rates.
What is the best insurance coverage?
When it comes to buying the right insurance coverage for your personal vehicles, there is no one size fits all plan. Everyone’s situation is a little different.
For example, these questions might point out whether you might need professional guidance.
- Do I have any recourse if my insurance company denies a claim?
- What is the minimum liability in my state?
- What can I do if my company denied a claim?
- Can my teen drive my company car?
- Does my insurance cover a custom paint job?
- Can I afford to pay high deductible claims out of pocket?
- Do I need replacement cost coverage?
- Can I afford low physical damage deductibles?
- What should my uninsured motorist coverage limits be in my state?
- When does my teenage driver need to be added to my policy?
If you don’t know the answers to these questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form.
Insurance coverage considerations
Having a good grasp of your insurance policy helps when choosing the right coverages for your vehicles. Insurance terms can be impossible to understand and coverage can change by endorsement.
Medical payments and PIP coverage
Med pay and PIP coverage kick in for immediate expenses like EMT expenses, doctor visits and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage
This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like backing into a parked car, sideswiping another vehicle and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to bring the cost down.
Comprehensive auto coverage
This will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as a broken windshield, vandalism and hitting a deer. The maximum amount your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Liability auto insurance
This coverage protects you from injuries or damage you cause to a person or their property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/25 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and $25,000 of coverage for damaged property.
Liability coverage protects against claims such as structural damage, loss of income and bail bonds. How much coverage you buy is a decision to put some thought into, but buy as much as you can afford.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Volvo S60.
Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.
Don’t break the bank
You just read many tips how you can get a better price on 2004 Volvo S60 insurance. The key concept to understand is the more times you quote, the higher your chance of finding lower rates. You may be surprised to find that the most savings is with a small local company.
Affordable insurance can be bought on the web as well as from independent agents, and you should compare price quotes from both to have the best selection. Some companies don’t offer the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.
When you buy insurance online, it’s a bad idea to skimp on coverage in order to save money. In many cases, an accident victim reduced collision coverage only to find out that they should have had better coverage. The ultimate goal is to purchase plenty of coverage at an affordable rate.
Additional learning opportunities
- Vehicle Insurance in the U.S. (Wikipedia)
- Booster Seat Ratings (iihs.org)
- What is Covered by GAP Insurance? (Allstate)
- Five Mistakes to Avoid (Insurance Information Insitute)
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