It’s safe to conclude that insurance companies don’t want you shop around. People who shop around for a cheaper policy are very likely to switch companies because there is a good probability of finding a more affordable policy. A recent insurance study discovered that drivers who faithfully checked for cheaper rates saved on average $3,500 over four years compared to policyholders who never compared other company’s rates.
If finding the best rates on car insurance is why you’re reading this, then having a grasp of how to get rate quotes and compare insurance can make it easier to find better rates.
It takes a few minutes, but the best way to find more affordable Volvo XC60 insurance is to compare quotes once a year from providers in Minneapolis. Prices can be compared by following these steps.
- First, learn about what coverages are included in your policy and the things you can change to keep rates low. Many rating factors that cause rate increases such as accidents, traffic tickets, and a poor credit score can be rectified by making minor changes in your lifestyle. Continue reading for additional tips to help keep rates affordable and find discounts that may have been missed.
- Second, request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO or State Farm, while independent agents can provide price quotes from multiple companies. Get quotes now
- Third, compare the new rates to the premium of your current policy and see if there is a cheaper rate in Minneapolis. If you find a lower rate quote and switch companies, ensure coverage does not lapse between policies.
- Fourth, tell your current agent or company to cancel your current coverage. Submit a completed policy application and payment for your new coverage. As soon as you receive it, place your new certificate of insurance along with the vehicle’s registration papers.
One key aspect when comparing rates is to make sure you’re comparing the same physical damage deductibles and liability limits on every quote request and and to get quotes from every company you can. This ensures an apples-to-apples comparison and a better comparison of the market.
If you have insurance now or just want to save money, use these money-saving tips to reduce the price you pay while maximizing coverage. Buying the cheapest auto insurance in Minneapolis is actually quite simple. Smart buyers only have to learn the most time-saving way to compare price quotes online.
Best companies for Volvo XC60 insurance
The following companies offer price comparisons in Minneapolis, MN. If multiple companies are listed, it’s highly recommended you get rates from several of them to get the best price comparison.
Rates and statistics
The rate table below outlines a range of insurance rates for Volvo XC60 models. Understanding how insurance rates are established is important to be able to make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC60 3.2 2WD||$234||$484||$304||$18||$92||$1,132||$94|
|XC60 3.2 AWD||$264||$484||$304||$18||$92||$1,162||$97|
|XC60 T6 AWD AWD||$264||$570||$304||$18||$92||$1,248||$104|
|XC60 T6-R AWD AWD||$296||$570||$304||$18||$92||$1,280||$107|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in specific Minneapolis garaging location which can revise coverage prices greatly.
Drive safe and save
The chart below demonstrates how speeding tickets and at-fault fender-benders raise Volvo XC60 premium costs for different ages of insureds. The data is based on a single male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
Determine discounts on Minneapolis car insurance
Car insurance companies don’t list all their discounts very well, so we researched both the well known and the harder-to-find savings tricks you should be using when you buy Minneapolis auto insurance online.
- Multiple Cars – Buying a policy with multiple cars on a single policy may reduce the rate for each vehicle.
- Accident Waiver – Not really a discount, but a handful of insurance companies will allow you to have one accident without getting socked with a rate hike with the catch being you have to be claim-free prior to being involved in the accident.
- Pay Now and Pay Less – If paying your policy premium upfront as opposed to paying monthly you can avoid monthly service charges.
- Safety Course Discount – Taking a course teaching driver safety skills could save 5% or more and easily pay for the cost of the class.
- Responsible Driver Discounts – Insureds without accidents can get discounts for up to 45% lower rates compared to rates paid by drivers with frequent claims.
- Mature Driver Discount – If you qualify as a senior citizen, you can get reduced rates.
- Good Students Pay Less – A discount for being a good student can save 20 to 25%. You can use this discount normally until age 25.
Discounts lower rates, but most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as medical payments or collision. Even though it appears all the discounts add up to a free policy, that’s just not realistic.
The diagram below visualizes the comparison of Volvo XC60 car insurance rates with and without discounts applied to the policy premium. Data assumes a male driver, a clean driving record, no at-fault accidents, Minnesota 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 marriage, safe-driver, homeowner, claim-free, multi-policy, and multi-car discounts applied.
Large car insurance companies and some of the discounts are:
- 21st Century offers discounts including anti-lock brakes, automatic seat belts, homeowners, teen driver, and student driver.
- State Farm offers premium reductions for accident-free, anti-theft, Steer Clear safe driver discount, Drive Safe & Save, passive restraint, and student away at school.
- AAA may include discounts for pay-in-full, AAA membership discount, multi-policy, good driver, multi-car, education and occupation, and anti-theft.
- Liberty Mutual discounts include new move discount, good student, multi-car, newly married, exclusive group savings, new vehicle discount, and multi-policy.
- Progressive policyholders can earn discounts including good student, online signing, continuous coverage, multi-vehicle, online quote discount, and multi-policy.
Check with all the companies which discounts can lower your rates. Discounts may not be available in every state. If you would like to view car insurance companies with discount rates in Minnesota, follow this link.
Choices You Make Can Impact Your Insurance Costs
Many things are used in the calculation when pricing auto insurance. Some factors are common sense like your driving record, but other criteria are more obscure such as whether you are married or how financially stable you are. An important part of buying insurance is that you know some of the factors that go into determining the price you pay for insurance. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that will entitle you to cheaper rates.
Insurance is expensive for teenage drivers – Older people are more cautious drivers, file fewer claims, and are generally more financially stable. Teenage drivers have a tendency to be easily distracted when driving with friends and because of this, their insurance rates are much higher.
The following chart uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.
Cut premiums and deter theft – Driving a car that has a built-in theft deterrent system can earn a premium discount. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping your car from being stolen.
Liability coverage – Liability coverage is the protection when you are found liable for physical damage or personal injury to other. This coverage provides legal defense coverage which can cost thousands of dollars. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so buy as much as you can afford.
Responsible credit saves on insurance – An insured’s credit score can be a huge factor in calculating your insurance rates. Therefore, if your credit score leaves room for improvement, you could be paying less to insure your Volvo XC60 by improving your rating. People that have excellent credit scores tend to be more responsible than those with poor credit scores.
Job reflects on rates – Did you know that where you work can have an impact on rates? Careers like fire fighters, architects, and financial analysts are shown to have the highest average rates because of stressful work requirements and extremely grueling work hours. Other professions such as farmers, engineers and homemakers pay the least.
Does insurance cost more for men? – The statistics show that men are more aggressive behind the wheel. However, don’t assume that men are WORSE drivers than women. Males and females are responsible for accidents at a similar rate, but the male of the species get into accidents with more damage. Men also get higher numbers of serious violations such as reckless driving. Male teenagers tend to get in the most accidents so it costs more to insure them.
The diagram below illustrates the comparison of Volvo XC60 insurance rates for male and female drivers. The premiums are based on no violations or accidents, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Drive fewer miles and save – The more miles you rack up on your Volvo in a year’s time the more it will cost to insure it. Most insurance companies calculate rates based upon how much you drive. Cars that do not get driven very much receive better premium rates than vehicles that are driven to work every day. Having an incorrect usage rating on your XC60 can cost quite a bit. Verify your insurance declarations sheet correctly shows the correct driver usage, because improper ratings can cost you money.
Buy a safe car and pay less – Cars with high safety ratings tend to have better insurance rates. The safest vehicles reduce injuries and better occupant protection translates into fewer and smaller insurance claims and thus lower rates. If your Volvo scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
Claims statistics for a Volvo XC60 – Insurers use past insurance losses to calculate a price that will offset any claims. Models that are shown to have a trend towards higher claims will have higher premium rates.
The table below illustrates the historical insurance loss data for Volvo XC60 vehicles. For each policy coverage, the loss probability for all vehicles compiled together is equal to 100. Values below 100 indicate a favorable loss history, while numbers above 100 indicate frequent claims or tendency to have larger claims.
|Specific Volvo Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo XC60 4dr 2WD||79||74||70||60||53||55|
|Volvo XC60 4dr 4WD||93||82||75||66||64||57|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Which is the best car insurance?
Always keep in mind that when comparing insurance from an agent or online for your vehicles, there really isn’t a “perfect” insurance plan. Your needs are unique to you.
These are some specific questions might help in determining whether or not you might need an agent’s assistance.
- What if a claim settlement is too low?
- Am I covered if I back into my garage door?
- Am I covered if I hit a deer?
- Is my teenager covered with friends in the car?
- How much underlying liability do I need for an umbrella policy?
- Do I have ACV or replacement cost coverage?
- How high should deductibles be on a Volvo XC60?
- Am I covered when driving on a suspended license?
- Can good grades get a discount?
If you’re not sure about those questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form. It’s fast, free and can help protect your family.
Insurance agents are professional risk managers
Certain consumers still like to buy from a local agent and doing so can bring peace of mind Licensed agents are highly skilled in risk management and help file insurance claims. One of the best bonuses of price shopping on the web is the fact that you can find cheap auto insurance rates and still have a local agent. And supporting small agencies is important particularly in Minneapolis.
Once you complete this form (opens in new window), the quote information gets sent to local insurance agents in Minneapolis who will gladly provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to do any legwork because quoted prices will be sent immediately to your email address. If you need to get a rate quote from a specific company, feel free to find their quoting web page to submit a rate quote request.
Auto insurance agents in Minneapolis come in two varieties
If you want to use a local agent, you should know the different types of agents and how they differ in how they quote coverages. Minneapolis agents are classified as either exclusive or independent (non-exclusive). Both types of agents can sell auto insurance policies, but it’s important to know the difference in the companies they write for since it could factor into the selection process.
Independent Auto Insurance Agents
Agents of this type are not employed by any specific company so they can write business through many companies and get you the best rates possible. If you are not satisfied with one company, the business is moved internally and you don’t have to switch agencies. When shopping rates, you need to include several independent insurance agents so that you can do a thorough price comparison.
Shown below is a short list of independent insurance agencies in Minneapolis that can possibly get you rate quotes.
Exclusive agents have only one company to place business with like State Farm, Allstate, and Farm Bureau. Exclusive agencies are unable to provide rate quotes from other companies so it’s a take it or leave it situation. They are well schooled on sales techniques and that enables them to sell even at higher rates.
Below are exclusive agents in Minneapolis that can give you comparison quotes.
Deciding on an auto insurance agent should depend on more than just the price. Any agent in Minneapolis should have no problem answering these questions:
- How long have they been in business?
- Do they offer accident forgiveness?
- Are they giving you every discount you deserve?
- Do they offer claims assistance after hours?
- Did they already check your driving record and credit reports?
- Has the agent ever had any license suspensions?
- Do they have a Better Business Bureau rating in Minneapolis?
Quote more to save more
We just showed you many ideas to shop for Volvo XC60 insurance online. The key concept to understand is the more quotes you get, the better chance you’ll have of finding affordable Minneapolis auto insurance quotes. Consumers could even find that the lowest car insurance rates come from a lesser-known regional company.
Drivers who switch companies do it for many reasons like poor customer service, delays in responding to claim requests, policy cancellation or being labeled a high risk driver. No matter why you want to switch, finding the right auto insurance provider can be pretty painless.
As you go through the steps to switch your coverage, make sure you don’t buy poor coverage just to save money. In many instances, an insured cut liability limits or collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your goal is to find the BEST coverage at the best possible price but still have enough coverage for asset protection.
More tips and info about auto insurance can be found in the articles below:
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Who Has Cheap Minneapolis Auto Insurance Rates for Used Cars? (FAQ)
- What Auto Insurance is Cheapest for a Nissan Rogue in Minneapolis? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Distracted Driving Statistics (Insurance Information Institute)
- Driving in Bad Weather (Insurance Information Institute)
- How to Avoid Staged Accidents (State Farm)