Locating the cheapest insurance for your Volvo S40 in Texas can normally be a lot of work, but you can follow these tips and make it easy. There is a right way and a wrong way to shop for auto insurance so you're going to learn the absolute fastest way to price shop coverage for a Volvo and find the lowest possible price.
The providers in the list below can provide free rate quotes in Lubbock, TX. To find the best cheap car insurance in Lubbock, we recommend you compare several of them to find the most competitive car insurance rates.
Data for Volvo S40 insurance
The table shown next highlights detailed analysis of prices for Volvo S40 models. Learning a little about how insurance prices are determined can help drivers make smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S40 T5 AWD R-Design||$286||$572||$430||$26||$128||$1,442||$120|
|Get Your Own Custom Quote Go|
Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rates do not factor in zip code location which can lower or raise rates considerably.
The chart below shows how choosing a deductible and can raise or lower Volvo S40 insurance premiums for different age categories. The rate quotes are based on a married male driver, full physical damage coverage, and no other discounts are factored in.
Male drivers compared to female drivers
The illustration below illustrates the comparison of Volvo S40 insurance rates for male and female drivers. The data is based on no driving violations, no at-fault accidents, full physical damage coverage, $500 deductibles, single marital status, and no additional discounts are factored in.
Full coverage rates compared to liability-only
The diagram below visualizes the comparison of Volvo S40 premium costs with and without physical damage coverage. The premiums assume a clean driving record, no claims, $250 deductibles, single marital status, and no additional discounts are factored in.
Should you be buying full coverage?
There isn't a steadfast formula for dropping full coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let's pretend your Volvo S40 replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after you pay the deductible. If it's costing in excess of $300 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Three main reasons to buy auto insurance
Despite the high cost, buying auto insurance is not optional due to several reasons.
- Most states have mandatory insurance requirements which means state laws require a specific minimum amount of liability protection if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Volvo, most banks will have a requirement that you carry insurance to protect their interest in the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Volvo at a much higher rate and force you to pay for the expensive policy.
- Auto insurance protects both your car and your personal assets. It will also provide coverage for many types of medical costs for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to have it repaired.
The benefits of carrying adequate insurance greatly outweigh the cost, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver overpays more than $750 every year so it's very important to do a rate comparison at least once a year to ensure rates are inline.
Six factors that affect insurance costs
It's important that you understand some of the elements that go into determining the price you pay for car insurance. If you have a feel for what controls the rates you pay, this enables informed choices that can earn you lower car insurance prices. Many things are part of the calculation when quoting car insurance. Some are pretty understandable such as your driving history, but others are not as apparent such as your marital status or your financial responsibility.
Your location is important - Choosing to live in smaller towns and rural areas of the country can save you money when shopping for auto insurance. Fewer drivers on the road translates into fewer accidents and a lower car theft rate. Drivers in populated Texas areas tend to have more traffic problems and longer commutes to work. Higher commute times means more chances of being involved in an auto accident.
Cheaper rates by combining - Lots of insurers will give discounts to customers who consolidate policies with them in the form of a multi-policy discount. Even though this discount sounds good, it's still a good idea to get quotes from other companies to help guarantee you have the best rates.
The more you drive the more you pay - The more you drive annually the more you'll pay to insure your vehicle. The majority of insurers calculate rates based upon how you use the vehicle. Vehicles that have low annual miles can be on a lower rate level than cars that get driven a lot. Ask your agent if your declarations sheet shows the proper vehicle usage. Improper usage on your S40 is just wasting money.
How much liability - The liability coverage on your policy will protect you when you are responsible for an accident. Liability provides legal defense coverage to attempt to prove you were not liable. Liability insurance is pretty cheap compared to comp and collision, so drivers should carry high limits.
Get a ticket, pay higher premiums - Even a single driving citation may cause rates to rise twenty percent or more. Good drivers have lower premiums compared to drivers with tickets. Drivers who have license-revoking violations such as DUI, reckless driving or excessive speeding may be required to prove financial responsibility with their state in order to prevent a license revocation.
The diagram below highlights how speeding tickets and at-fault claims increase Volvo S40 auto insurance rates for different ages of insureds. The premium estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
Lower rates come with age - Mature drivers have been proven to be more responsible, cause fewer claims and accidents, and receive fewer citations. Young drivers tend to be more careless in a vehicle therefore car insurance rates are much higher.
The chart below is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
When in doubt talk to an agent
When buying proper insurance coverage, there really isn't a single plan that fits everyone. Everyone's situation is unique and a cookie cutter policy won't apply. For instance, these questions could help you determine whether your personal situation could use an agent's help.
- Why does it cost so much to insure a teen driver in Lubbock?
- Do I really need UM/UIM coverage?
- Where can I find DUI or SR-22 insurance?
- What is high-risk coverage and where do I buy it?
- Which is better, split liability limits or combined limits?
- Do I need PIP (personal injury protection) coverage in Texas?
- Am I insured when driving a different vehicle?
- Is my nanny covered when transporting my kids?
If you're not sure about those questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It's fast, doesn't cost anything and you can get the answers you need.
Persistence is the key to affordable rates
When getting Lubbock car insurance quotes online, it's very important that you do not skimp on critical coverages to save a buck or two. There have been many cases where someone sacrificed liability coverage limits and found out when filing a claim that it was a big error on their part. The ultimate goal is to buy the best coverage you can find at the best cost, but do not sacrifice coverage to save money.
Throughout this article, we presented some good ideas how to shop for Volvo S40 insurance online. The key concept to understand is the more times you quote, the better your chances of lowering your prices. You may even be surprised to find that the lowest premium rates are with the smaller companies. Smaller companies may often insure only within specific states and give better rates than the large multi-state companies such as Allstate and Progressive.
How to find cheaper rates for Volvo S40 insurance in Lubbock
The best way to get cheaper auto insurance rates is to start comparing rates regularly from insurers in Lubbock.
- Read about car insurance and the steps you can take to keep rates low. Many things that result in higher prices such as at-fault accidents, speeding tickets, and an imperfect credit history can be improved by paying attention to minor details.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from one company like Progressive or State Farm, while independent agencies can give you price quotes for many different companies.
- Compare the price quotes to your current policy premium to determine if switching companies saves money. If you find better rates, ensure coverage does not lapse between policies.
- Provide written notification to your current company to cancel your current policy. Submit payment and a completed application to the new insurer. Once coverage is bound, keep your new proof of insurance paperwork above your visor, in the console, or in the glove compartment.
An important part of this process is to make sure you're comparing similar coverage information on each quote and and to get price estimates from every insurance company. This enables an accurate price comparison and maximum price selection.
More detailed auto insurance information can be read in the articles below:
- Booster Seat Ratings (iihs.org)
- Who Has the Cheapest Lubbock Car Insurance for a Nissan Sentra? (FAQ)
- Who Has Cheap Car Insurance Rates for a Learners Permit in Lubbock? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Unemployed Drivers in Lubbock? (FAQ)
- How Much is Lubbock Car Insurance for Uber Drivers? (FAQ)
- What Auto Insurance is Cheapest for a Honda Civic in Lubbock? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Corolla in Lubbock? (FAQ)
- Who Has Cheap Lubbock Auto Insurance for a GMC Sierra? (FAQ)
- Frontal Crash Tests (iihs.org)
- A Tree Fell on Your Car: Now What? (Allstate)
- Liability Insurance Coverage (Nationwide)
- Auto Insurance Learning Center (State Farm)