Do you need a better way to compare more affordable Volvo V50 insurance in Louisville? Have you had enough of sacrificing to pay your car insurance bill each month? You are in the same boat as many other Kentucky consumers.
It goes without saying that insurance companies don’t want you to look for a cheaper policy. People who shop around for the cheapest rate will probably switch car insurance companies because there are good odds of finding coverage at a cheaper rate. Surprisingly, a recent survey revealed that consumers who made a habit of comparing rates saved an average of $3,500 over four years compared to people who never shopped around for cheaper prices.
If finding the cheapest price on insurance in Louisville is your goal, then learning about how to quote and compare car insurance can help simplify the process. Big companies like Allstate and Progressive all promote huge savings with ads and it is challenging if not impossible to see through the deception and effectively compare rates to find the best deal.
It is always a good idea to compare prices quite often because insurance prices trend upward over time. Just because you found the lowest rates on Volvo V50 insurance in Louisville at your last renewal the chances are good that you can find a lower rate quote today. You’ll find quite a bit of inaccurate information about V50 insurance out there, but in this article, you’re going to get some of the best ways to buy car insurance cheaper in Louisville.
If you have insurance now or are looking for a new policy, use these money-saving tips to find the best rates without sacrificing coverage. Locating the best rates in Louisville is easy if you know what you’re doing. You just need to learn the best way to compare rate quotes online from multiple companies.
The quickest method to compare rates for Volvo V50 insurance in Louisville is to know most of the larger companies actually pay money for the chance to give free rates quotes. To begin a comparison, all you need to do is provide a small amount of information including how many miles driven, marital status, if it has an alarm system, and your occupation. That information is submitted instantly to multiple insurance providers and you get price estimates almost instantly.
To start a rate quote now, click here and complete the form.
The companies shown below can provide price comparisons in Kentucky. If your goal is to find cheap car insurance in KY, we recommend you compare several of them to get a more complete price comparison.
Car insurance discounts are available to get cheap rates
Some companies do not advertise all available discounts very clearly, so here is a list both the well known and also the more inconspicuous discounts that you may qualify for. If you aren’t receiving every discount available, it’s possible you qualify for a lower rate.
- Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts as much as 30%.
- Discounts for Good Drivers – Drivers who avoid accidents may save up to 50% more than less cautious drivers.
- Telematics Data – Louisville drivers who agree to allow their insurance company to track their driving habits by installing a telematics device such as Snapshot from Progressive or Drivewise from Allstate might see lower rates as long as the data is positive.
- Resident Student – Kids who live away from home to go to college and don’t have a car could get you a discount.
- Pay Early and Save – If paying your policy premium upfront rather than paying in monthly installments you may have a lower total premium amount.
- Anti-theft Discount – Cars equipped with anti-theft or alarm systems are less likely to be stolen and earn discounts up to 10% off your Louisville auto insurance quote.
- Military Discounts – Having a family member in the military could be rewarded with lower premium rates.
Discounts lower rates, but many deductions do not apply to the overall cost of the policy. Most only cut specific coverage prices like comprehensive or collision. Even though it appears all the discounts add up to a free policy, you aren’t that lucky.
The chart below shows the difference between Volvo V50 insurance costs with and without discounts applied to the rates. The premium estimates are based on a female driver, no accidents or driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, homeowner, multi-policy, claim-free, and marriage discounts applied.
Companies and some of their more popular discounts can be read below.
- American Family has savings for multi-vehicle, Steer into Savings, TimeAway discount, mySafetyValet, early bird, defensive driver, and good driver.
- State Farm may include discounts for anti-theft, multiple autos, Drive Safe & Save, student away at school, defensive driving training, and passive restraint.
- 21st Century may offer discounts for student driver, theft prevention, air bags, teen driver, 55 and older, anti-lock brakes, and driver training.
- Travelers policyholders can earn discounts including multi-car, save driver, multi-policy, student away at school, and IntelliDrive.
- GEICO includes discounts for seat belt use, daytime running lights, military active duty, anti-theft, and anti-lock brakes.
When getting a coverage quote, ask each company or agent which discounts can lower your rates. Some discounts listed above may not apply in Louisville. To see a list of insurers with the best discounts in Louisville, follow this link.
Premium rates and analysis
The data table displayed below highlights estimates of insurance rates for Volvo V50 models. Learning how car insurance prices are established can assist in making decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|V50 AWD T5 R-Design||$196||$446||$440||$26||$132||$1,240||$103|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Price information does not factor in specific location which can increase or decrease prices greatly.
Safe drivers pay less for insurance
The example below demonstrates how traffic citations and accidents influence Volvo V50 insurance premiums for different categories of driver ages. The rate quotes are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
How Insurers Determine Volvo V50 Insurance Prices
One of the most helpful ways to save on insurance is to to have a grasp of a few of the rating criteria that are used to determine the price you pay for insurance. When you understand what positively or negatively impacts your premiums, this enables informed choices that can earn you lower rates.
Shown below are most of the major factors used by companies to determine your rate level.
- City dwellers may pay more – Being located in a small town has definite advantages when trying to find low car insurance rates. People who live in big cities have more aggressive driving styles and a longer drive to work. Fewer drivers means a lower chance of having an accident in addition to lower liability claims.
- Bad credit will cost you – A driver’s credit score is a large factor in calculating your insurance rates. Therefore, if your credit rating can use some improvement, you could be paying less to insure your Volvo V50 by taking the time to improve your credit score. Consumers who have very high credit ratings tend to be less risk to insure than drivers with lower ratings.
- Having a spouse is a good thing – Having a spouse actually saves money on your policy. Having a significant other usually means you are more mature than a single person and insurance companies like that being married results in fewer claims.
Are you male or female? – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. However, this does not mean males are worse at driving than females. Both sexes have at-fault accidents at about the same rate, but the male of the species tend to have higher claims. Men also tend to get ticketed for serious violations such as reckless driving.
The illustration below visualizes the comparison of Volvo V50 insurance rates for male and female drivers. The rates are based on no accidents, no driving violations, comp and collision included, $500 deductibles, marital status is single, and no discounts are taken into consideration.
- No insurance claims equals better insurance rates – Companies in Kentucky provide discounts to people that do not abuse their auto insurance. If you are a frequent claim filer, you can look forward to either higher rates or even cancellation. Auto insurance is intended to be relied upon for major claims that would cause financial hardship.
The type of car you drive affects your rates – The type of car or truck you need insurance for makes a substantial difference in determining your rates. The lowest rates are generally reserved for lower cost passenger models, but that’s not the only thing that factors into the final price.
The following chart assumes a single female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It compares Volvo V50 rates compared to other makes and models that have a range of risk factors.
- If you don’t need it don’t buy it – There are a ton of extra add-on coverages that may not really be needed if you don’t pay attention. Things like rental car reimbursement, accident forgiveness, and motor club memberships could be just wasting money. They may seem like a good idea when talking to your agent, but if you don’t need them get rid of them and save.
Lower rates come with age – Older insureds are viewed as being more responsible, statistically cause fewer accidents, and usually have better credit. Teenage drivers have been known to be inattentive and easily distracted when behind the wheel therefore insurance rates are much higher.
The next chart uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.