If your goal is the lowest price, then the best way to quote cheaper Volvo V60 insurance in Detroit is to start comparing prices regularly from different companies who provide car insurance in Michigan. Price quotes can be compared by following these guidelines.
- Step 1: It will benefit you to learn about auto insurance and the factors you can control to keep rates low. Many factors that drive up the price like distracted driving and a less-than-favorable credit score can be eliminated by making minor changes to your lifestyle. Keep reading for more details to prevent high prices and find overlooked discounts.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agents can quote rates for a wide range of insurance providers.
- Step 3: Compare the price quotes to the price on your current policy to see if a cheaper price is available. If you find a lower rate and buy the policy, make sure there is no coverage gap between policies.
One key aspect of rate comparisons is to use the same amount of coverage on each quote request and and to get rate quotes from as many auto insurance providers as possible. Doing this helps ensure a fair rate comparison and a complete selection of prices.
A study showed that most consumers in Michigan kept buying from the same company for at least the last four years, and practically 40% of insurance customers have never even compared quotes to find cheaper rates. U.S. drivers could save about $859 each year by just comparing rate quotes, but they just assume it takes a lot of time to compare rates and save money.
Informed Consumers Can Cut Their Insurance Premiums
One of the most helpful ways to save on insurance is to to have a grasp of some of the things that go into determining your insurance rates. If you have a feel for what determines premiums, this allows you to make good choices that may reward you with lower insurance prices. Many factors are used when pricing auto insurance. Some are obvious like your driving record, although some other factors are less obvious such as whether you are married or your financial responsibility.
The type of vehicle you drive affects your rates – The performance of the car, truck or SUV you drive makes a big difference in your rates. Smaller low performance passenger vehicles usually have the lowest premiums, but there are many factors that impact the final cost.
Vehicle features can affect premiums – Selecting a car model that has a built-in theft deterrent system can save you some money. Theft deterrent systems such as OnStar, LoJack tracking, and tamper alarms help track and prevent vehicle theft.
Poor credit decisions can cost you – A driver’s credit score can be a huge factor in determining your rates. Insureds that have excellent credit tend to be better risks to insure than drivers who have bad credit. Therefore, if your credit history is not that good, you may save money insuring your Volvo V60 by taking the time to improve your credit score.
How much liability insurance – A critical coverage on your policy, liability insurance kicks in when a jury decides you are liable for an accident. Liability insurance provides for a legal defense to attempt to prove you were not liable. It is affordable coverage compared to insuring for physical damage coverage, so do not skimp.
Do you have a high stress job? – Occupations such as fire fighters, air traffic controllers, and stock brokers have the highest average rates because of high stress and lots of time spent away from family. Conversely, occupations like farmers, students and the unemployed generally pay rates lower than average.
Bad drivers pay high costs – Whether or not you get tickets has a huge affect on how much you pay. Drivers who don’t get tickets receive lower rates than their less careful counterparts. Just one citation may cause rates to rise by twenty percent. Drivers with severe violations like reckless driving, hit and run or driving under the influence may be required to maintain a SR-22 with the DMV in their state in order to drive a vehicle legally.
Stay claim-free and save – If you file a lot of claims you can pretty much guarantee either higher rates or even cancellation. Companies in Michigan generally give most affordable rates to policyholders who only file infrequent claims. Your car insurance is intended to be relied upon for major claims that would cause financial hardship.
Insurance losses for a Volvo V60 – Companies analyze historical claim data to help set a rate to offset losses. Vehicles that have a trend towards higher claim severity or frequency will have higher rates. The table shown below demonstrates the loss history for Volvo V60 vehicles.
For each policy coverage, the statistical loss for all vehicles, as an average, equals 100. Values under 100 are indicative of better than average losses, while percentage values above 100 indicate more frequent losses or an increased probability of a larger loss.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo V60 2WD||68||53|
|Volvo V60 4WD||136||75|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Save a ton with discounts
Some insurance providers don’t always advertise every possible discount in an easy-to-find place, so the following list contains a few of the more well known and the more hidden credits available to lower your premiums when you buy Detroit car insurance online. If you aren’t receiving every discount you deserve, you are just wasting money.
- Anti-lock Brakes – Anti-lock brake equipped vehicles can stop better under adverse conditions so companies give up to a 10% discount.
- Student Discount for Driver Training – Have your child successfully complete driver’s ed class as it can save substantially.
- Distant Student – Kids who attend college more than 100 miles from Detroit and leave their car at home may qualify for this discount.
- Multiple Vehicles – Buying coverage for several vehicles on one policy can get a discount for every vehicle.
- Discount for Home Ownership – Simply owning a home can get you a discount because maintaining a house requires a higher level of personal finance.
- No Claim Discounts – Detroit drivers who stay claim-free are rewarded with significantly better rates on Detroit car insurance quote compared to drivers with a long claim history.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles can help prevent theft and therefore earn up to a 10% discount.
- New Car Discount – Putting car insurance coverage on a new V60 may earn a small discount because new vehicles keep occupants safer.
- Waiver for an Accident – This one is not really a discount per se, but companies like GEICO, State Farm, and Progressive permit an accident without getting socked with a rate hike if you have no claims prior to the accident.
As is typical with insurance, most credits do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like you could get a free car insurance policy, it doesn’t quite work that way. But any discount should help lower the cost of your policy.
A few popular companies and a summarized list of policyholder discounts can be found below.
- State Farm may include discounts for defensive driving training, safe vehicle, student away at school, good student, accident-free, multiple policy, and passive restraint.
- Farmers Insurance offers discounts including business and professional, early shopping, switch companies, good student, youthful driver, and homeowner.
- GEICO offers discounts for seat belt use, anti-lock brakes, air bags, driver training, and five-year accident-free.
- American Family discounts include accident-free, defensive driver, multi-vehicle, bundled insurance, and air bags.
- Nationwide offers premium reductions for defensive driving, good student, accident-free, family plan, easy pay, business or organization, and anti-theft.
- Progressive has savings for multi-policy, continuous coverage, multi-vehicle, homeowner, and good student.
When getting a coverage quote, ask every insurance company what discounts are available to you. Some credits might not apply in your area. To view companies that offer discounts in Detroit, click here to view.
In this article, we presented a lot of techniques to find affordable Volvo V60 insurance in Detroit. It’s most important to understand that the more times you quote, the better likelihood of getting affordable Detroit car insurance quotes. You may even discover the lowest priced car insurance comes from a company that doesn’t do a lot of advertising. Some small companies often have lower auto insurance rates on specific markets than their larger competitors like Progressive or GEICO.
Budget-conscious Volvo V60 insurance is possible online as well as from insurance agents, and you should be comparing both to have the best selection. Some insurance companies don’t offer online rate quotes and many times these smaller providers only sell through independent agencies.
More tips and info about car insurance is available at these sites:
- Uninsured Motorist Statistics (Insurance Information Institute)
- What Car Insurance is Cheapest for First-time Drivers in Detroit? (FAQ)
- Who Has Affordable Car Insurance Rates After a Speeding Ticket in Detroit? (FAQ)
- Who Has Affordable Auto Insurance for a 20 Year Old Male in Detroit? (FAQ)
- Who Has Affordable Auto Insurance for Young Drivers in Detroit? (FAQ)
- Who has the Cheapest Auto Insurance Quotes in Detroit, MI? (DetroitInsure.com)
- Prom Night Tips for Teen Drivers (State Farm)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Airbag FAQ (iihs.org)