Best Ways to Save on Las Vegas Volvo V50 Insurance

Amazingly, most car insurance buyers kept their policy with the same company for a minimum of four years, and just short of a majority have never shopped around. The average driver in Las Vegas can save approximately $545 each year by just comparing quotes, but most undervalue the rate savings if they switched to a more affordable policy.

The preferred way to get budget car insurance rates is to make a habit of comparing prices annually from insurers that sell auto insurance in Las Vegas.

• First, it will benefit you to learn about what is in your policy and the modifications you can make to keep rates in check. Many factors that increase rates such as traffic violations and a negative credit score can be controlled by making lifestyle changes or driving safer.
• Second, compare rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like Progressive or State Farm, while independent agencies can give you price quotes for many different companies. Start a quote
• Third, compare the quotes to the premium of your current policy and see if there is a cheaper rate in Las Vegas. If you find a lower rate quote and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Fourth, notify your agent or company to cancel the current policy and submit a down payment and signed policy application to your new insurance company. As soon as you can, put the new proof of insurance certificate with the vehicle registration.

One thing to remember is that you’ll want to compare the same deductibles and limits on each quote request and to quote with as many different companies as possible. Doing this ensures a fair price comparison and the best price quote selection.

How to find affordable Volvo V50 insurance in Las Vegas

There are several ways to compare quotes from many different Nevada insurance companies. The best method to comparison shop is simply to get online rate quotes.

Getting rates online is very simple and it makes it obsolete to drive around to local Las Vegas insurance agencies. The fact that you can get quotes online eliminates the need for an insurance agent unless your situation requires the peace of mind that you can only get from talking to an agent. Although you can obtain prices from the web and get advice from an agent in your area. When comparison shopping, obtaining a wide range of quotes will improve the odds of getting a lower rate. Some insurance companies are not set up to provide rate quotes online, so it’s important to compare price estimates from them, too.

The companies shown below offer price comparisons in Las Vegas, NV. If multiple companies are listed, it’s a good idea that you get rate quotes from several of them to get the cheapest price.

Volvo V50 insurance rates and statistics

The rate table below showcases different insurance premium costs for Volvo V50 models. Learning as much as possible about how policy rates are established can be useful when making smart choices when selecting a coverage provider.

Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Estimates do not factor in vehicle garaging location which can modify price quotes greatly.

Deductible analysis

A question often asked by Las Vegas drivers is which deductible level should you buy. The following insurance rates sum up the rate difference when you select higher and lower policy deductibles. The first rate estimation uses a $100 deductible for physical damage and the second set of rates uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Estimates do not factor in your specific Las Vegas location which can lower or raise coverage prices considerably.

Based on the figures above, using a $100 deductible will cost in the ballpark of $25 more each month or $300 a year than opting for the higher $500 deductible. Since you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you have at least 16 months between claims, you would come out ahead by going with a higher deductible.

The illustration below demonstrates how deductibles and can increase or decrease Volvo V50 insurance costs for different age groups. The data is based on a single male driver, comp and collision included, and no discounts are applied.

Gender-based insurance rates by age

The chart below visualizes the comparison of Volvo V50 premium costs for male and female drivers. The premiums assume no claims or driving citations, full coverage, $250 deductibles, single status, and no other discounts are factored in.

Three reasons to insure your vehicle

Despite the high insurance cost for a Volvo V50 in Las Vegas, insurance is required in Nevada but also provides important benefits.

First, most states have minimum liability requirements which means you are required to buy specific minimum amounts of liability protection if you drive a vehicle. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you bought your Volvo V50 with a loan, it’s guaranteed your bank will stipulate that you have full coverage to guarantee loan repayment. If you do not keep the policy in force, the lender will be forced to insure your Volvo for a lot more money and require you to fork over for the much more expensive policy.

Third, insurance preserves both your assets and your Volvo V50. It also can pay for hospital and medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also covers legal expenses in the event you are sued. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.

The benefits of insuring your car greatly outweigh the cost, especially with large liability claims. An average driver in America is overpaying more than $750 every year so compare rates at every policy renewal to make sure the price is not too high.

Get Lower-cost Insurance Costs by Understanding These Factors

When buying auto insurance it’s important to understand the rating factors that help determine your auto insurance rates. When consumers understand what controls the rates you pay, this enables you to make decisions that can help you get lower rates. Multiple criteria are used when you get a price on insurance. Some of the criteria are obvious such as your driving history, but other factors are less obvious like your vehicle usage or how safe your car is.

• Rates impacted by your city – Choosing to live in smaller towns and rural areas of the country can be a good thing if you are looking for the lowest rates. Drivers in populated areas regularly have much more traffic and more severe claims. Fewer people translates into fewer accident claims.

• Obey driving laws and save – Even one citation could increase your next policy renewal to the point where it’s not affordable. Drivers with clean records get better prices than bad drivers. Drivers who have received severe violations like reckless driving or DUI are required to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.

  The diagram below highlights how traffic violations and at-fault collisions can influence Volvo V50 premium costs for different age groups. The data assumes a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.

• How do annual miles impact prices? – The higher the miles on your Volvo each year the more you will pay for auto insurance. The majority of insurers charge rates based on how the vehicle is used. Cars used primarily for pleasure use can get a lower rate than vehicles that are driven to work every day. Having the wrong rating on your V50 may be wasting your money. It’s always a good idea to double check that your auto insurance policy shows how each vehicle is driven.
• Prevent theft and save – Choosing to buy a car with a theft deterrent system can save you a little every year. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent vehicle theft.

• Performance affects rates – The type of vehicle you need insurance for makes a substantial difference in your auto insurance rates. Smaller low performance passenger vehicles usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.

  The data below uses these assumptions: single female driver age 30, full coverage with $500 deductibles, and no discounts or violations. The data compares Volvo V50 policy rates compared to other vehicles that have different performances.

• Does your vocation cost you more? – Occupations like fire fighters, social workers, and accountants usually pay higher rates than the rest of us attributed to high stress and lengthy work days. Conversely, professions such as actors, historians and homemakers pay lower than average rates.
• Liability coverage – Your auto insurance policy’s liability coverage is the protection in the event that a jury decides you are liable for causing damage or personal injury in an accident. Liability provides legal defense coverage to defend your case. It is affordable coverage compared to comp and collision, so do not cut corners here.

Cheaper car insurance is a realistic goal

Some car insurance companies do not offer online rate quotes and these smaller companies only sell coverage through local independent agents. Low-cost Volvo V50 insurance in Las Vegas is attainable both online and from local insurance agents, and you should compare rates from both to have the best rate selection.

We just showed you some good ideas how to lower your Volvo V50 insurance premium rates in Las Vegas. The key concept to understand is the more times you quote, the higher the chance of saving money. Drivers may even discover the lowest priced car insurance comes from a small local company. Some small companies may only write in your state and offer lower prices than their larger competitors like Progressive and GEICO.

Additional learning opportunities

• Prepare your Teens for Safe Driving (InsureUonline.org)
• Who Has the Cheapest Las Vegas Auto Insurance for a Honda Accord? (FAQ)
• Who Has Affordable Las Vegas Auto Insurance Rates with Multiple Speeding Tickets? (FAQ)
• Event Data Recorders FAQ (iihs.org)
• Tread Depth and Tire Safety (State Farm)
• Avoiding Deer Collisions (Insurance Information Institute)
• Auto Insurance Learning Center (State Farm)