How Much Does 2016 Volvo V60 Insurance Cost in 2024?

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Apr 23, 2024

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Searching for the cheapest insurance rates for your Volvo V60? Tired of scraping nickels together to insure your Volvo every month? You’re in the same situation as many other drivers.

Online insurance companies like Progressive, GEICO and Farmers Insurance increase brand awareness with catchy ads and consumers find it hard to avoid their marketing magic and do the work needed to find the best deal.

You should make it a habit to compare rates before your policy renews since prices change frequently. Just because you had the best deal for V60 insurance on your last policy you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because it’s time to teach you the things you must know in order to remove unneeded coverages and save money.

If you currently have a car insurance policy, you will be able to save some money using these tips. Finding affordable coverage is not that difficult. Nevertheless, car owners do need to understand the way insurance companies price online insurance because it can help you find the best coverage.

Compare insurance coverage quotes

Performing a rate comparison is a ton of work if you aren’t aware of the best way to get rate quotes. You can spend your afternoon driving to insurance companies in your area, or you could use online quotes to get prices fast.

Most of the larger companies belong to a marketplace that enables customers to enter their coverage request one time, and at least one company returns a competitive quote. This system prevents you from having to do quotation requests for each company you want a rate for.

To enter your information into the quoting system, enter your zip code here.

The only downside to pricing coverage this way is buyers cannot specifically choose which insurance companies you want to price. So if you prefer to pick from a list of companies to compare rates, we put together a list of insurance coverage companies in your area. Click to enter zip code.

Whichever method you choose, do your best to enter apples-to-apples coverages on every quote you get. If you compare different coverage information it will be impossible to find the best deal for your Volvo V60. Just a small difference in limits can make a big difference in price. And when comparing insurance coverage rates, know that comparing all the rates in your area will improve the odds of getting the best offered rates. Not every company does rate quotes online, so it’s recommended that you also compare price estimates from them as well.

Auto insurance policy discounts you can’t miss

Auto insurance is expensive, but you might find some hidden discounts that can drop the cost substantially. Many of these discounts will be applied automatically at the time of quoting, but a few must be asked for before you get the savings.

  • Discount for Multiple Policies – If you can combine your auto and homeowners policy with one company they may give you a discount of up to 20% and get you cheaper car insurance.
  • E-sign – A few larger online companies may give you up to $50 for buying your policy online.
  • Discount for Life Insurance – Select companies reward you with a discount if you purchase life insurance from them.
  • ABS Brakes – Cars and trucks with anti-lock braking systems are safer to drive and the ABS can save up to 10%.
  • Own a Home and Save – Just owning your own home may earn you a small savings since owning and maintaining a home means you have a higher level of financial diligence.
  • Discount for Good Grades – Being a good student can earn a discount of 20% or more. The good student discount can last well after school through age 25.
  • Military Deployment Discount – Being deployed with a military unit could mean lower premium rates.
  • Pay Early and Save – If you pay your bill all at once rather than paying in monthly installments you could save 5% or more.
  • New Car Discount – Adding a new car to your policy can save up to 30% due to better safety requirements for newer models.

You should keep in mind that most of the big mark downs will not be given to your bottom line cost. Most only apply to individual premiums such as physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, auto insurance companies aren’t that generous.

Popular auto insurance companies and their possible discounts can be found below.

  • Progressive offers discounts for multi-vehicle, online quote discount, continuous coverage, multi-policy, and homeowner.
  • MetLife may have discounts that include good driver, good student, accident-free, multi-policy, and defensive driver.
  • Mercury Insurance has savings for age of vehicle, ease of repair, low natural disaster claims, type of vehicle, and multi-policy.
  • Nationwide offers premium reductions for easy pay, business or organization, Farm Bureau membership, family plan, multi-policy, good student, and defensive driving.
  • GEICO discounts include five-year accident-free, anti-theft, anti-lock brakes, daytime running lights, seat belt use, and good student.
  • AAA includes discounts for multi-policy, anti-theft, good student, good driver, multi-car, and pay-in-full.

Before buying, ask each company what discounts are available to you. Some of the earlier mentioned discounts may not be available in your area. To find companies with the best auto insurance discounts, enter your zip code here.

Good decisions result in lower insurance rates

Many things are part of the equation when quoting car insurance. Most are fairly basic like your driving record, but other factors are not as apparent such as your marital status or how financially stable you are.

The list below includes just a few of the factors used by insurance companies to determine prices.

  • Age of drivers – Young drivers are statistically shown to be inattentive and easily distracted in a vehicle so insurance rates are higher. Older, more experienced drivers are shown to be more cautious, tend to cause fewer accidents and tend to be get fewer driving tickets.
  • No insurance gaps is important – Having an insurance coverage lapse is a sure-fire way to increase your rates. Not only will you pay more, not being able to provide proof of insurance may earn you fines or a revoked license.
  • Insurance claims cost money – Car insurance companies award lower rates to drivers who only file infrequent claims. If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Auto insurance is intended for claims that you cannot pay yourself.
  • Drivers with excellent credit save – Having a bad credit history is a large factor in determining your rates. Drivers who have excellent credit tend to file fewer claims as compared to drivers with bad credit. Therefore, if your credit score is not that good, you could save money insuring your 2016 Volvo V60 by improving your rating.
  • Where you live is a factor – Being located in smaller towns and rural areas of the country may provide you with better prices when it comes to insurance. People who live in big cities regularly have more aggressive driving styles and more time behind the wheel. Fewer drivers on the road means reduced accidents and a lower car theft rate.

Insurance agents can help

When it comes to choosing coverage, there isn’t really a “perfect” insurance plan. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that may help highlight whether you might need an agent’s assistance.

  • Does my liability insurance cover pulling a trailer or camper?
  • Do I need rental car coverage?
  • Do I need to file an SR-22 for a DUI in my state?
  • Am I covered when driving on a suspended license?
  • Is my custom paint covered by insurance?
  • Does medical payments coverage apply to all occupants?
  • How can I get my company to pay me more for my totalled car?
  • Is pleasure use cheaper than using my 2016 Volvo V60 to commute?
  • Do I have coverage when pulling a U-Haul trailer?

If you can’t answer these questions but a few of them apply then you might want to talk to an agent. If you don’t have a local agent, complete your zip code.

Insurance coverages and their meanings

Having a good grasp of a insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be confusing and coverage can change by endorsement. These are typical coverage types found on the average insurance policy.

Comprehensive auto coverage

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as fire damage, damage from flooding and a broken windshield. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your Volvo V60.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision coverage protection

This covers damage to your V60 from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like hitting a parking meter, driving through your garage door, colliding with a tree, scraping a guard rail and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. It’s also possible to bump up the deductible to bring the cost down.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP provide coverage for expenses like rehabilitation expenses, dental work, doctor visits, nursing services and chiropractic care. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. They cover you and your occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Liability car insurance

Liability coverage protects you from damages or injuries you inflict on other’s property or people that is your fault. It protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Another option is one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for things like legal defense fees, medical services, medical expenses and pain and suffering. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Spend less. Save more.

When you buy car insurance online, it’s a bad idea to buy poor coverage just to save money. There are many occasions where someone dropped collision coverage only to find out that they should have had better coverage. The aim is to buy the best coverage you can find for the lowest price, but do not sacrifice coverage to save money.

Budget-friendly insurance coverage can be purchased online as well as from insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance coverage companies don’t offer online price quotes and usually these smaller companies prefer to sell through local independent agencies.

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