The best way to quote cheaper car insurance rates is to start comparing prices regularly from companies that insure vehicles in Detroit.
- Step 1: Spend some time learning about how your policy works and the changes you can make to prevent expensive coverage. Many risk factors that cause rate increases such as careless driving and an imperfect credit score can be controlled by making lifestyle changes or driving safer. Keep reading for more details to get cheaper rates and find overlooked discounts.
- Step 2: Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO and State Farm, while independent agencies can quote prices from multiple insurance companies.
- Step 3: Compare the new rate quotes to the premium of your current policy and see if there is a cheaper rate. If you can save money, verify that coverage does not lapse between policies.
- Step 4: Give notification to your current company of your intent to cancel your current coverage. Submit payment along with a signed and completed policy application to your new company or agent. Make sure you place your new certificate of insurance along with the vehicle’s registration papers.
A tip to remember is to try to compare the same amount of coverage on each price quote and and to get price quotes from as many different insurance providers as possible. This enables a fair price comparison and maximum price selection.
Regrettably, most consumers have bought auto insurance from the same company for four years or more, and about 40% of consumers have never compared rates from other carriers. Many consumers in Michigan could pocket $3,836 a year, but they don’t believe the large savings they would see if they just switched companies.
This article’s intent is to familiarize you with how auto insurance companies operate and how to save the most money. If you have a policy now, you should be able to buy cheaper auto insurance using the concepts you’re about to learn. Vehicle owners only need an understanding of how to get comparison rates from many different companies.
The method we recommend to compare policy rates for Volvo S60 insurance in Detroit takes advantage of the fact almost all companies allow for online access to provide you with a free rate quote. The one thing you need to do is give them rating details including the year, make and model of vehicles, deductibles desired, your job, and an estimate of your credit level. Your rating data is instantly sent to insurance companies and you will get price comparisons instantly to find the best rate.
If you wish to get multiple quotes for your car now, click here and complete the form.
The car insurance companies shown below provide free quotes in Michigan. To locate cheap car insurance in Detroit, we suggest you compare several of them in order to get a fair rate comparison.
Insurance is an important decision
Despite the high insurance cost for a Volvo S60 in Detroit, paying for insurance may be required for several reasons.
- The majority of states have minimum mandated liability insurance limits which means you are required to carry specific limits of liability coverage if you don’t want to risk a ticket. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Volvo S60, almost every bank will have a requirement that you have full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Volvo at a more expensive rate and require you to pay a much higher amount than you were paying before.
- Insurance protects both your assets and your Volvo. It will also cover most medical and hospital costs that are the result of an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay to repair the damage.
The benefits of insuring your S60 greatly outweigh the cost, especially if you ever need it. Today the average American driver overpays as much as $865 each year so we recommend shopping around at every policy renewal to make sure the price is not too high.
Why You Might Pay Lower Rates in Detroit
Part of the car insurance buying process is learning the rating factors that help determine your premiums. If you know what determines base rates, this allows you to make educated decisions that could result in better car insurance rates. Lots of things are used when you quote your car insurance policy. Some are pretty understandable like a motor vehicle report, although others are not quite as obvious like your continuous coverage or how financially stable you are.
The following are some of the factors that factor into premiums.
- Big city or small town – Residing in less populated areas of the country may provide you with better prices when trying to find low car insurance rates. Urban drivers have congested traffic and a longer drive to work. Lower population means less chance of accidents and a lower car theft rate.
- Car and home together may be cheaper – Many companies will give discounts to policyholders that have more than one policy. It’s known as a multi-policy discount. Discounts can add up to anywhere from five to ten percent in most cases. Even if you’re getting this discount you may still want to get quotes from other companies to guarantee you are still saving the most.
- Single drivers may pay more – Having a wife or husband can actually save you money when buying car insurance. Having a significant other is viewed as being more mature and responsible and it’s proven that married drivers tend to file fewer claims.
- Your liability coverage limits – The liability coverage on your policy will protect you in the event that a court rules you are at fault for physical damage or personal injury to other. Liability provides you with a defense in court which can cost a lot. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
- Employer stress can affect rates – Occupations such as doctors, airline pilots, and financial analysts generally have higher premium rates attributed to stressful work requirements and long work hours. On the other hand, jobs such as farmers, historians and homemakers have the lowest average rates.
- Teenagers vs. older drivers – Older drivers are more cautious drivers, tend to file fewer claims, and are safer drivers. Drivers with little experience are statistically proven to be inattentive and easily distracted when at the wheel of a vehicle so they pay higher car insurance rates.
- Costs are impacted by vehicle performance – The performance of the vehicle you are insuring makes a huge difference in the rate you pay. The cheapest rates are generally reserved for lower cost passenger cars, but your final cost has many other factors.
- Responsible drivers pay lower costs – Good drivers pay less for auto insurance than their less careful counterparts. Having just one citation could increase your next policy renewal twenty percent or more. Drivers who get careless violations like hit and run, DWI or reckless driving convictions are required to prove financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
Insurance losses for a Volvo S60 – Car insurance companies use historical loss data when they set coverage costs for each model. Models that the statistics show to have higher frequency or amount of claims will have higher rates for specific coverages. The next table shows the insurance loss data used by companies for Volvo S60 vehicles.
For each insurance policy coverage type, the claim probability for all vehicles, as an average, is represented as 100. Values under 100 suggest a better than average loss history, while numbers shown that are more than 100 indicate more frequent losses or an increased likelihood of larger losses.
Volvo S60 Insurance Loss Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo S60 4dr 2WD 103 85 83 76 72 65 Volvo S60 4dr 4WD 111 73 90 65 66BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Don’t give up on affordable coverage
As you quote Detroit car insurance, do not reduce needed coverages to save money. There have been many situations where an insured dropped liability coverage limits and learned later they didn’t purchase enough coverage. Your goal is to purchase a proper amount of coverage at the best price, not the least amount of coverage.
The cheapest Volvo S60 insurance in Detroit can be purchased both online and with local Detroit insurance agents, so you should be comparing quotes from both to have the best rate selection. Some companies may not offer the ability to get a quote online and most of the time these smaller providers sell through independent agents.
More tips and info about insurance can be found in these articles:
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance for Lyft Drivers in Detroit? (FAQ)
- Who Has Affordable Auto Insurance for Retired Military in Detroit? (FAQ)
- What Auto Insurance is Cheapest for Low Credit Scores in Detroit? (FAQ)
- Who Has the Cheapest Detroit Car Insurance Rates for Teenagers? (FAQ)
- What Insurance is Cheapest for 18 Year Olds in Detroit? (FAQ)
- How Much is Car Insurance for Uber Drivers in Detroit? (FAQ)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Understanding your Policy (NAIC.org)
- Insuring a Leased Car (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)