Cheapest 2001 Volvo V70 Insurance Rates in 2023
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UPDATED: May 12, 2022
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Looking for better car insurance rates for your Volvo V70? Having to pay for overpriced Volvo V70 insurance can take a big chunk out of your savings account and make it impossible to make ends meet. Doing a price comparison is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket. Drivers have so many car insurance companies to pick from, and even though it’s nice to be able to choose, it can be more challenging to find the best rates for your vehicles.
Finding the best rates is not that difficult. If you are insured now or need new coverage, you will benefit by learning to cut your premiums and possibly find even better coverage. Drivers just need to understand the most efficient way to get comparison rates online.
Discounts are great for lower rates
Car insurance companies do not list all their discounts in an easy-to-find place, so we break down some of the best known and also the lesser-known savings tricks you should be using. If they aren’t giving you every credit you deserve, you’re paying more than you need to.
- Air Bag Discount – Factory air bags can receive discounts of 20% or more.
- Accident Waiver – A handful of insurance companies will allow you to have one accident before raising your premiums if you are claim-free prior to the accident.
- Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% for V70 coverage with select insurance companies.
- Seat Belts Save more than Lives – Drivers who require all occupants to wear their seat belts can save up to 15% off your PIP or medical payments premium.
- Accident Free – Good drivers with no accidents pay much less as compared to drivers who are more careless.
- Drive Less and Save – Keeping the miles down on your Volvo can earn discounted rates on garaged vehicles.
- Multiple Policy Discount – When you combine your home and auto insurance with one company you will save approximately 10% to 15%.
- Life Insurance – Select insurance companies reward you with a discount if you purchase a life insurance policy as well.
- Military Discounts – Having a family member in the military could be rewarded with lower premiums.
It’s important to note that some credits don’t apply to your bottom line cost. Some only apply to the price of certain insurance coverages like collision or personal injury protection. So even though it sounds like you could get a free car insurance policy, it doesn’t quite work that way.
Companies that possibly offer these benefits include:
- Farm Bureau
- Liberty Mutual
- American Family
It’s a good idea to ask all companies you are considering how you can save money. Savings may not be available everywhere.
You may need specialized coverage
When buying the best auto insurance coverage, there really is no single plan that fits everyone. Everyone’s situation is unique so this has to be addressed. For instance, these questions can help discover if your situation might need professional guidance.
- Where can I find DUI or SR-22 insurance?
- Can I rent a car in Mexico?
- Is my teenager covered with friends in the car?
- Is my Volvo V70 covered if I use it for business?
- Which is better, split liability limits or combined limits?
- Who is covered when they drive my 2001 Volvo V70?
- Exactly who is provided coverage by my policy?
- What is the ISO rating for a 2001 Volvo V70?
- Can my teen driver be rated on a liability-only vehicle?
If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area. It only takes a few minutes and can help protect your family.
Is there truth in advertising?
Drivers can’t get away from ads for the lowest price auto insurance from companies such as Progressive, Allstate and GEICO. They all have a common claim about savings if you switch your policy.
How does each company say the same thing?
All the different companies are able to cherry pick for the driver that earns them a profit. For example, a driver they prefer might be profiled as between the ages of 40 and 55, is a homeowner, and has a high credit rating. A customer getting a price quote who fits that profile gets the lowest rates and as a result will probably save a lot of money.
Potential customers who don’t meet the requirements will be quoted higher prices and this can result in the customer not buying. The ads state “customers who switch” not “people who quote” save that kind of money. This is how companies can truthfully make the claims of big savings. This emphasizes why it is so important to get as many quotes as possible. It’s just too difficult to predict the company that will have the lowest Volvo V70 insurance rates.
Insurance coverage breakdown
Having a good grasp of insurance can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find typical coverage types available from insurance companies.
Comprehensive insurance – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as hail damage, a tree branch falling on your vehicle, theft and rock chips in glass. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Collision – This coverage pays for damage to your V70 caused by collision with another car or object. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims such as crashing into a ditch, damaging your car on a curb, crashing into a building, sustaining damage from a pot hole and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also increase the deductible in order to get cheaper collision rates.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for bills for things like prosthetic devices, EMT expenses, surgery and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your Volvo V70.
Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.
Liability insurance – Liability coverage protects you from damage or injury you incur to people or other property by causing an accident. This insurance protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.
Liability can pay for claims like loss of income, attorney fees, court costs, legal defense fees and pain and suffering. How much coverage you buy is your choice, but consider buying as high a limit as you can afford.
Be a money saver!
When you buy insurance online, make sure you don’t buy less coverage just to save a little money. There have been many cases where an insured cut full coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy the best coverage you can find at a price you can afford.
We covered some good ideas how you can get a better price on 2001 Volvo V70 insurance. It’s most important to understand that the more rate quotes you have, the better your chances of lowering your rates. Consumers may even find the best prices are with some of the lesser-known companies. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive and GEICO.
Much more information about insurance can be read at these links:
- Alcohol Impaired Driving FAQ (iihs.org)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- How Can I Save Money on Auto Insurance? (Insurance Information Insitute)
- Drunk Driving Statistics (Insurance Information Insitute)
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