Cheapest 1998 Volvo S70 Insurance Rates in 2023
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UPDATED: Aug 23, 2022
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Purchasing the lowest cost insurance on the web can seem to be impossible for beginners to comparison shopping online. Because there are so many online companies, how can consumers possibly compare them all to find the best pricing?
Choosing the best insurance company for you is not that difficult. In a nutshell, every vehicle owner who shops for insurance will more than likely be able to save money. But car owners do need to know the way companies market insurance on the web and take advantage of how the system works.
Cut your insurance coverage rates with discounts
Car insurance companies don’t always publicize all their discounts very clearly, so we break down both well-publicized as well as the least known ways to save on insurance coverage.
- Save over 55 – Mature drivers can possibly qualify for a small decrease in premiums for S70 coverage.
- Discount for Life Insurance – Select insurance companies reward you with lower rates if you buy life insurance from them.
- Passive Restraint Discount – Vehicles equipped with air bags or motorized seat belts may earn rate discounts up to 30%.
- Seat Belts Save – Requiring all passengers to buckle their seat belts could cut 10% or more off your PIP or medical payments premium.
- Low Mileage – Driving fewer miles could be rewarded with better rates on cars that stay parked.
- Claim Free – Claim-free drivers pay much less when compared to accident-prone drivers.
- College Student – Youth drivers living away from home attending college and do not have a car may be able to be covered for less.
- Discount for Good Grades – Performing well in school can get you a discount of up to 25%. Earning this discount can benefit you up to age 25.
- E-sign – A few companies may give you up to $50 for buying your policy on their website.
A little note about advertised discounts, most discount credits are not given to your bottom line cost. The majority will only reduce individual premiums such as comprehensive or collision. So despite the fact that it appears all those discounts means the company will pay you, it doesn’t quite work that way.
To see a list of insurance companies with discount insurance coverage rates, click here.
The most recommended method to compare insurance rates in your area takes advantage of the fact almost all companies will pay a fee to give rate comparisons. The one thing you need to do is give the companies some data including daily mileage, if you went to college, driver ages, and if you are currently licensed. The data is then sent to multiple top-rated companies and they provide comparison quotes almost instantly.
Volvo S70 rate determination is complex
An important part of buying insurance is that you know the rating factors that come into play when calculating the rates you pay for insurance. Understanding what impacts premium levels allows you to make educated decisions that can help you get lower insurance prices.
- Equipment add-ons that lower insurance rates – Owning a car that has an advanced theft prevention system can help lower your rates. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.
- Increase deductibles and save – The deductibles define the amount you are required to spend if you file a covered claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply would be running into the backend of another car, damage caused by hail, or theft. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance for S70 coverage.
- Liability coverage protects you – Your policy’s liability coverage provides coverage if you are found to be at fault for causing damage or personal injury in an accident. It provides you with a defense in court starting from day one. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so drivers should carry high limits.
- Discounts for multiple policies – Most insurance companies provide better rates to insureds who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to 10 percent or more. If you currently are using one company, it’s still a good idea to compare other company rates to ensure the best deal. You may still be able to find better rates by buying insurance from a different company.
- Drive a safer car and pay less – Vehicles with good safety scores tend to have better insurance rates. Safe vehicles result in less severe injuries and lower injury rates means lower claim amounts and thus lower rates. If your Volvo S70 scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
- Do you work long hours in a high stress job? – Careers like lawyers, executives and dentists tend to pay the highest average rates due to high stress levels and lots of time spent at work. Other jobs such as actors, historians and the unemployed have the lowest average rates for S70 coverage.
You are unique and your insurance coverage should be too
When buying coverage for your vehicles, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s.
These are some specific questions might point out if you would benefit from an agent’s advice.
- Should I put collision coverage on all my vehicles?
- Will I be non-renewed for getting a DUI or other conviction?
- Is my state a no-fault state?
- Can I rate high risk drivers on liability-only vehicles?
- Are my friends covered when driving my 1998 Volvo S70?
- Is pleasure use cheaper than using my 1998 Volvo S70 to commute?
- Does my medical payments coverage pay my health insurance deductible?
- Do I have coverage when making deliveries for my home business?
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don’t have a local agent, complete this form.
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Save $411 a year. For real?
21st Century, Allstate and State Farm consistently run ads on television and other media. All the companies make an identical promise that you can save if you change to their company. How do they all make almost identical claims?
Insurance companies have a preferred profile for the driver that is profitable for them. For example, a driver they prefer might be profiled as between 30 and 50, a clean driving record, and has a high credit rating. A propective insured who meets those qualifications will get the preferred rates and as a result will probably cut their rates substantially.
Consumers who don’t measure up to the “perfect” profile will be charged higher rates which leads to the customer not buying. The ad wording is “customers that switch” not “people who quote” save money. That is how companies can truthfully make the claims of big savings. That is why you absolutely need to compare many company’s rates. You cannot predict which company will give you the biggest savings on Volvo S70 insurance.
Specific coverage details
Knowing the specifics of insurance helps when choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.
Uninsured Motorist or Underinsured Motorist insurance – This coverage provides protection when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Volvo S70.
Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.
Comprehensive coverage (or Other than Collision) – This coverage will pay to fix 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 insurance covers claims like damage from flooding, hail damage and damage from getting keyed. The most your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Collision coverage – This coverage covers damage to your S70 from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision can pay for things like backing into a parked car, scraping a guard rail and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to bump up the deductible to save money on collision insurance.
Liability auto insurance – Liability insurance protects you from damage or injury you incur to other people or property. This insurance protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 that translate to a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage pays for claims like court costs, repair bills for other people’s vehicles and bail bonds. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.
Insurance for medical payments – Coverage for medical payments and/or PIP reimburse you for expenses such as ambulance fees, chiropractic care and prosthetic devices. The coverages can be utilized in addition to your health insurance program or if you lack health insurance entirely. It covers both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Smart shoppers get results
In this article, we covered some good ideas how you can lower your 1998 Volvo S70 insurance rates. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. Consumers could even find that the best price on auto insurance is with an unexpected company.
When you buy insurance online, it’s not a good idea to buy poor coverage just to save money. There are a lot of situations where someone sacrificed uninsured motorist or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. Your focus should be to find the BEST coverage at a price you can afford.
Insureds change insurance companies for a number of reasons such as poor customer service, delays in responding to claim requests, high rates after DUI convictions and even an unsatisfactory settlement offer. It doesn’t matter what your reason, switching companies is not as difficult as it may seem.
For more information, link through to the following helpful articles:
- Coverage Information (Progressive Insurance)
- Electronic Stability Control FAQ (iihs.org)
- Distracted Driving Statistics (Insurance Information Insitute)
- Insuring a Leased Car (Insurance Information Insitute)
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