2010 Volvo S40 Car Insurance Cost – 8 Tips for Best Prices

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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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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Apr 3, 2020

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Looking for lower insurance coverage rates for your Volvo S40? Are you overwhelmed by the number of insurance coverage company choices? Many other drivers are as well. Drivers have so many choices that it can be a real hassle to compare prices.

Don’t miss these eight discounts

Car insurance can cost a lot, but there could be available discounts that can drop the cost substantially. Certain discounts will be applied at the time of purchase, but less common discounts must be specially asked for before you get the savings.

  • Anti-lock Brake Discount – Vehicles with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
  • Payment Discounts – If you pay your bill all at once instead of paying each month you could save up to 5%.
  • Discounts for Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates for S40 coverage than their less cautious counterparts.
  • Passive Restraints and Air Bags – Vehicles with factory air bags or automatic seat belts can get savings of 20% or more.
  • Own a Home – Owning a home may earn you a small savings due to the fact that maintaining a home shows financial diligence.
  • Discount for Good Grades – This discount can save 20 to 25%. Earning this discount can benefit you up to age 25.
  • Senior Citizens – If you qualify as a senior citizen, you may qualify for reduced rates for S40 coverage.
  • Military Discounts – Being deployed with a military unit could be rewarded with lower premiums.

It’s important to note that some credits don’t apply to the entire policy premium. A few only apply to individual premiums such as liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, companies don’t profit that way. But all discounts will cut the amount you have to pay.

To see a list of insurance companies with the best car insurance discounts, click here.

Do drivers who switch really save $397 a year?

State Farm, Allstate and GEICO consistently run television and radio advertisements. All the companies say the same thing that you can save if you change to their company. How does each company make almost identical claims? It’s all in the numbers.

Insurance companies have a certain “appetite” for the driver that makes them money. For example, a profitable customer could possibly be between the ages of 40 and 55, has no prior claims, and drives newer vehicles. A customer getting a price quote who fits that profile receives the best rates and as a result will probably save when switching.

Drivers who fall outside these standards will have to pay higher premiums which leads to business not being written. The ads state “people who switch” but not “drivers who get quotes” save that kind of money. That’s the way insurance companies can claim big savings.

Because of the profiling, you should quote coverage with many companies. It’s not possible to predict the company that will fit your personal profile best.

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When might I need help?

When buying the best car insurance coverage, there really is no one size fits all plan. Everyone’s situation is a little different.

For instance, these questions might help in determining whether you would benefit from professional advice.

  • What is high-risk coverage and where do I buy it?
  • Do I need more liability coverage?
  • Am I getting all the discounts available?
  • How many claims can I have before being canceled?
  • How do I file an SR-22 for a DUI in my state?
  • Am I covered when pulling a rental trailer?
  • I have health insurance so do I need medical payments coverage?
  • Are split liability limits better than a combined single limit?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find an agent in your area, simply complete this short form.

Coverages available on your insurance policy

Understanding the coverages of your insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Insurance terms can be confusing and reading a policy is terribly boring.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as dental work, ambulance fees, chiropractic care, nursing services and doctor visits. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is not available in all states and may carry a deductible

Collision coverage

This coverage will pay to fix damage to your S40 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as driving through your garage door, damaging your car on a curb, colliding with a tree, crashing into a ditch and sideswiping another vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Liability

Liability coverage provides protection from injuries or damage you cause to a person or their property. This coverage protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability insurance covers claims such as emergency aid, attorney fees, bail bonds and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are identical to your policy’s liability coverage.

Comprehensive insurance

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as hitting a bird, fire damage, a broken windshield and theft. The maximum amount your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

What is YOUR best insurance company?

Cheap 2010 Volvo S40 insurance can be purchased from both online companies 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 regional insurance providers provide coverage only through local independent agents.

As you restructure your insurance plan, make sure you don’t sacrifice coverage to reduce premiums. Too many times, consumers will sacrifice liability coverage limits and learned later that the savings was not a smart move. Your focus should be to buy the best coverage you can find at the best price.

You just read a lot of information how to compare insurance prices online. The key concept to understand is the more you quote, the better chance you’ll have of finding lower rates. You may even discover the lowest rates come from a small local company.

More detailed insurance information can be read in these articles:

Use our FREE quote tool to compare rates now!

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