Save Money on Volvo V50 Insurance in Jacksonville

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Discount Volvo V50 insuranceThe preferred way to save on car insurance rates is to annually compare prices from different companies who sell insurance in Jacksonville. Price quotes can be compared by completing these steps.

Step 1: Read and learn about how your policy works and the measures you can control to prevent rate increases. Many rating factors that drive up the price like traffic citations, accidents, and a negative credit history can be controlled by making minor driving habit or lifestyle changes. Read the full article for additional tips to get low prices and get additional discounts that may have been overlooked.

Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like GEICO or Allstate, while agents who are independent can provide price quotes from multiple insurance companies. Compare rates

Step 3: Compare the quotes to your existing rates to determine if switching companies saves money. If you find a lower rate and switch companies, ensure there is no coverage lapse between policies.

A valuable tip to remember is to try to compare similar coverage information on every quote and to quote with as many carriers as you can. This provides a fair price comparison and the best price selection.

Regrettably, a large majority of car insurance policyholders have remained with the same car insurance company for well over three years, and nearly 40% of drivers have never even compared rates from other companies. Drivers in Florida could pocket roughly $1,130 a year by just shopping around, but most just don't grasp the actual amount they would save if they just switched companies.

Volvo V50 coverage statistics

The data table below covers detailed analysis of insurance coverage prices for Volvo V50 models. Knowing how premiums are figured is important for drivers to make informed decisions when shopping around for a new policy.

Volvo V50 Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $348 $748 $438 $26 $132 $1,692 $141
V50 AWD T5 R-Design $348 $862 $438 $26 $132 $1,806 $151
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Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in vehicle garaging location which can impact insurance rates significantly.

Deductible analysis

One of the most common insurance questions is how high or low should comp and collision deductibles be. The premium rates below illustrate the difference in cost when you choose different physical damage coverage deductibles. The first rate estimation uses a $250 physical damage coverage deductible and the second data table uses a $1,000 deductible.

Volvo V50 insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $364 $640 $418 $24 $124 $1,595 $133
V50 AWD T5 R-Design $364 $736 $418 $24 $124 $1,691 $141
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Volvo V50 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $224 $402 $418 $24 $124 $1,192 $99
V50 AWD T5 R-Design $224 $464 $418 $24 $124 $1,254 $105
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Rate quotes do not factor in specific location which can modify rates substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs an average of $35 more each month or $420 for a full year than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you average at least 21 months between claim filings, you would most likely save money if you opt for a higher deductible.

Get Volvo V50 Insurance Cheaper

Lots of things are part of the equation when premium rates are determined. Some of the criteria are obvious such as your driving record, but other criteria are less obvious like your continuous coverage or how safe your car is.

The itemized list below are some of the most common factors used by insurance companies to determine your prices.

  • Safeguard your assets with liability insurance - The liability section of your policy is the protection in the event that you are determined to be liable for causing personal injury or damage in an accident. Your liability coverage provides for a legal defense which can cost a lot. This coverage is very inexpensive compared to comp and collision, so drivers should buy more than the minimum limits required by law.
  • Does your employer cost you more? - Occupations like military personnel, social workers, and stock brokers generally pay the highest rates attributed to intense work requirements and long work hours. On the flip side, careers like scientists, engineers and the unemployed have lower than average premiums.
  • Safer cars means cheaper premiums - Cars with high safety ratings are cheaper to insure. Vehicles engineered for safety help reduce the chance of injuries in an accident and any reduction in injury severity translates into savings for insurance companies and more competitive rates for policyholders.
  • Performance impacts prices - The make and model of the vehicle you are buying insurance for makes a huge difference in the rate you pay. Economy passenger cars normally have pretty low rates, but there are many factors that impact the final cost.

    The data below uses these assumptions: married male driver age 50, full coverage with $500 deductibles, and no discounts or violations. It illustrates Volvo V50 car insurance rates compared to other models that have different performances.

  • Optional features can affect rates - Buying a car with advanced anti-theft systems can help bring down rates. Anti-theft features such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping your car from being stolen.
  • High credit scores save money - Having a bad credit score is likely to be a major factor in determining what you pay for auto insurance. People with excellent credit scores tend to be more responsible and file fewer claims than those with lower ratings. If your credit score could use some work, you may save money insuring your Volvo V50 if you improve your credit rating.
  • Traffic violations are costly - Your driving record can have a huge impact on auto insurance premiums. Drivers who don't get tickets have lower premiums compared to drivers with tickets. Having just one ticket could increase your next policy renewal by twenty percent. Drivers who have received license-revoking violations like DWI, reckless driving or hit and run convictions may need to prove financial responsibility with their state's licensing department in order to prevent a license revocation.

    The diagram below illustrates how traffic citations and accidents can affect Volvo V50 insurance rates for each age group. The premiums are based on a single male driver, full coverage, $250 deductibles, and no discounts are applied.

  • Stay claim-free and reduce prices - If you tend to file frequent claims, you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance companies in Florida generally give lower rates to people who are not frequent claim filers. Insurance coverage is designed for larger claims.

Persistence is the key to cheaper rates

We just covered many tips how you can save on Volvo V50 insurance in Jacksonville. It's most important to understand that the more quotes you get, the better your comparison will be. You may even discover the biggest savings come from a small local company. These smaller insurers can often insure niche markets at a lower cost as compared to the big name companies such as Progressive or GEICO.

Cost effective Volvo V50 insurance is attainable on the web and from local insurance agents, so you should be comparing quotes from both to get a complete price analysis. Some car insurance companies may not provide internet price quotes and usually these small insurance companies sell through independent agents.

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