Cheap 2021 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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Looking for better insurance rates for your Volvo V60? Having to pay for overpriced insurance can overdraw your funds and put a big crunch on your finances. Comparing rate quotes is free and is an excellent way to make sure you’re not throwing money away.

Big companies like GEICO, 21st Century and Progressive constantly blast consumers with fancy advertisements and consumers find it hard to see past the geckos and flying pigs and take the time to shop coverage around.

It’s a good habit to check insurance prices before your next renewal because insurance prices tend to go up over time. Despite the fact that you may have had the lowest rates on V60 insurance at your last renewal other companies may now be cheaper. Forget anything you know (or think you know) about insurance because you’re about to find out the proper way to find the best coverage while lowering your premiums.

Get cheap insurance rates by understanding these factors

Smart consumers have a good feel for a few of the rating criteria that come into play when calculating the price you pay for insurance coverage. When consumers understand what determines premiums, this helps enable you to make changes that can earn you lower insurance coverage prices.

  • Are you male or female? – Statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that females are better drivers. Men and women are in accidents in similar numbers, but guys cause more damage and cost insurance companies more money. Men also receive more costly citations such as driving while intoxicated (DWI) or driving recklessly.
  • Getting married equates to better rates – Having a significant other may save some money compared to being single. Marriage means you’re more mature and statistics show drivers who are married file infrequent claims.
  • Credit rating impacts premium prices – Having a good credit history will be a significant factor in determining premium rates. So if your credit can use some improvement, you could pay less to insure your 2021 Volvo V60 by improving your rating. Consumers who have high credit ratings tend to file fewer claims and have better driving records as compared to drivers with lower ratings.
  • Driving citations can be expensive – Even one citation could increase your next policy renewal forty percent or more. Good drivers receive lower rates compared to drivers with tickets. Drivers who get dangerous tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to prevent their license from being revoked.
  • Liability insurance limits should be high – A critical coverage on your policy, liability insurance is the protection if a jury decides you are liable for causing personal injury or damage in an accident. Liability insurance provides for a legal defense which can cost thousands of dollars. Liability insurance is quite affordable compared to comp and collision, so drivers should buy more than the minimum limits required by law.

How to compare insurance quotes

Finding cheaper 2021 Volvo V60 insurance quotes can be relatively painless. Drivers just need to take time getting comparison quotes online from several insurance companies. It’s really simple and can be done in several different ways.

  • Without a doubt, the easiest way to get quotes is a comparison rater form. This quick form eliminates the need for repetitive form entry for every company. One form submission gets coverage cost estimates from many national carriers.
  • A more time consuming way to obtain and compare quotes online requires a visit to the website for every company you want to compare and repeat the quote process again and again. For instance, let’s say you are doing a rate comparison from Liberty Mutual, Progressive and GMAC. You would be required to visit each site and repeatedly enter your information, which explains why we recommend starting with the first method.
  • The least recommended way to compare price quotes is physically going to different agent offices. Buying insurance online eliminates the middleman unless you’re the type of person who wants the trained guidance that can only be provided by a licensed insurance agent. However, consumers can comparison shop online and have a local agent actually service the policy.

However you get your quotes, try to keep the same coverages with each company. If you use differing limits you can’t possibly make a fair rate comparison.

Save $452 a year! What?

Consumers get pounded daily by advertisements that promise big savings for switching from the likes of Allstate, GEICO and Progressive. They all advertise the message about savings just by moving to their company.

How is it plausible that every one can give you a lower rate? You have to listen carefully.

Insurance providers require specific criteria for the type of customer that will most likely be profitable. For instance, a preferred risk may need to be over the age of 45, has never had a claim, and has great credit. A customer getting a price quote who fits that profile will get low rates and therefore will save a lot if they switch.

People who don’t measure up to the “perfect” profile will probably be forced to pay a higher rate and the customer buying from someone else. The wording the ads use say “drivers that switch” not “everyone that quotes” save the amount stated. That’s why companies can advertise the savings. Because each company has a different risk profile, you should get a wide range of price quotes. You cannot predict which company will give you lower premium rates than your current company.

Get lower rates with these car insurance discounts

Auto insurance companies do not list the entire discount list in a way that’s easy to find, so we researched a few of the more common and the harder-to-find car insurance savings.

  • Early Signing – A few insurance companies offer discounts for switching policies early. It could save around 10% when you buy car insurance online.
  • Low Mileage Discounts – Low mileage vehicles could earn cheaper car insurance rates.
  • Own a Home – Owning your own home or condo may trigger a policy discount on car insurance because owning a home requires a higher level of personal finance.
  • Military Rewards – Having a family member in the military may qualify for rate reductions.
  • Good Students Pay Less – Excelling in school can get you a discount of up to 25%. Many companies even apply the discount to college students up to age 25.
  • Air Bag Discount – Vehicles equipped with air bags or automatic seat belts can qualify for discounts up to 30%.
  • Driving Data Discount – Drivers who elect to allow their insurance company to look at vehicle usage by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction if they are good drivers.
  • Multi-line Discount – Select insurance companies reward you with a discount if you purchase auto and life insurance together.

A quick disclaimer, most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, car insurance companies aren’t that generous.

Large car insurance companies and some of their more popular discounts are detailed below.

  • Progressive offers discounts including multi-vehicle, continuous coverage, multi-policy, good student, and online signing.
  • Farmers Insurance discounts include switch companies, mature driver, homeowner, youthful driver, multi-car, bundle discounts, and good student.
  • Farm Bureau has discounts for good student, youthful driver, driver training, 55 and retired, and multi-policy.
  • State Farm may include discounts for multiple autos, good student, defensive driving training, safe vehicle, and Steer Clear safe driver discount.
  • GEICO may offer discounts for multi-policy, five-year accident-free, membership and employees, federal employee, driver training, good student, and emergency military deployment.
  • SAFECO offers discounts for drive less, multi-car, homeowner, anti-lock brakes, teen safety rewards, and teen safe driver.
  • Liberty Mutual may have discounts that include newly married, new vehicle discount, new graduate, preferred payment discount, and newly retired.

When comparing rates, check with every company to apply every possible discount. Some discounts listed above may not apply in your area.

Auto insurance can get complicated

When choosing coverage, there really is not a “perfect” insurance plan. Everyone’s situation is unique so your insurance needs to address that. For instance, these questions might help in determining if your situation would benefit from professional advice.

  • Should I have combined single limit or split liability limits?
  • If I drive on a suspended license am I covered?
  • If my pet gets injured in an accident are they covered?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Am I covered when driving in Canada or Mexico?
  • When should I drop full coverage on my 2021 Volvo V60?
  • Why am I required to buy liability insurance?

If you’re not sure about those questions, you might consider talking to an insurance agent. To find lower rates from a local agent, fill out your zip code. It only takes a few minutes and may give you better protection.

What insurance coverages do you need?

Having a good grasp of a insurance policy helps when choosing the right coverages and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverage types found on most insurance policies.

Medical expense coverage – Med pay and PIP coverage kick in for expenses such as hospital visits, surgery, dental work and ambulance fees. They are often used in conjunction with a health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is only offered in select states and may carry a deductible

Collision coverages – This will pay to fix damage to your V60 caused by collision with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like crashing into a building, damaging your car on a curb, scraping a guard rail, colliding with a tree and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Comprehensive protection – This coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like theft, hitting a bird, a broken windshield, rock chips in glass and vandalism. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Uninsured or underinsured coverage – This protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Liability car insurance – This coverage protects you from damage or injury you incur to other people or property in an accident. This coverage protects you against other people’s claims. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged property.

Liability coverage pays for claims such as emergency aid, funeral expenses, pain and suffering and structural damage. How much coverage you buy is a personal decision, but you should buy as much as you can afford.

One last thing about your coverage

Budget-conscious 2021 Volvo V60 insurance can be found both online and from local agencies, so you should be comparing quotes from both to have the best rate selection. Some insurance companies may not offer online quoting and these regional carriers sell through independent agents.

As you prepare to switch companies, don’t be tempted to reduce needed coverages to save money. Too many times, consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that the small savings ended up costing them much more. The aim is to buy the best coverage you can find for the lowest price.

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