Really, the only way to get discount Volvo S80 insurance is to compare prices annually from companies who sell auto insurance in Minneapolis. You can compare rates by following these guidelines.
- First, spend a few minutes and learn about how companies set rates and the steps you can take to prevent expensive coverage. Many risk factors that result in higher prices like traffic violations, accidents, and a not-so-good credit rating can be eliminated by making small lifestyle or driving habit changes. This article gives additional ideas to prevent expensive rate increases and get bigger discounts that may have been overlooked.
- Second, obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO and Allstate, while independent agencies can provide rate quotes for many different companies.
- Third, compare the quotes to your current policy premium to see if a cheaper price is available. If you can save money and decide to switch, make sure there is no coverage gap between policies.
- Fourth, tell your current company of your intent to cancel your current auto insurance policy and submit a signed application and payment to your new agent or company. As soon as you receive it, put the certificate of insurance along with the vehicle’s registration papers.
The most important part of shopping around is that you use the same coverage limits and deductibles on each price quote and and to get price quotes from every insurance company. This enables a fair rate comparison and a complete price analysis.
Anyone knows that auto insurance companies don’t want you to look for a cheaper policy. Consumers who shop around for cheaper prices are very likely to move their business because there are good odds of finding a lower-priced policy. Remarkably, a study showed that drivers who routinely shopped for cheaper coverage saved about $860 a year compared to policyholders who never compared prices.
If finding the best rates on Volvo S80 insurance is why you’re here, then having some insight into how to find and compare coverages can save time, money, and frustration.
Coverage statistics and figures
The premium information shown next covers a range of policy rates for Volvo S80 models. Having insight into how policy rates are formulated can help you make smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S80 T6 AWD||$264||$550||$334||$20||$100||$1,268||$106|
|S80 Executive AWD||$264||$622||$334||$20||$100||$1,340||$112|
|S80 V8 AWD||$292||$622||$334||$20||$100||$1,368||$114|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rates do not factor in specific Minneapolis garaging location which can change price quotes significantly.
The diagram below shows how choosing a deductible and can raise or lower Volvo S80 insurance costs for each age group. The premiums are based on a married female driver, full coverage, and no other discounts are factored in.
Irresponsible driving raises your rates
The chart below highlights how speeding tickets and at-fault collisions can impact Volvo S80 insurance prices for different age groups of insureds. The price estimates are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.
Should you buy full coverage?
The diagram below compares Volvo S80 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Minnesota. The costs are based on no claims, a clean driving record, $100 deductibles, single status, and no policy discounts are applied.
When to stop buying physical damage coverage
There is no written rule of when to exclude full coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your Volvo S80 replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $3,000 after paying your deductible. If you are paying in excess of $300 annually to have full coverage, then it could be time to drop full coverage.
There are a few situations where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
What Determines Volvo S80 Insurance Premiums?
Smart consumers have a good feel for the factors that go into determining your insurance rates. When consumers understand what determines base rates, this empowers consumers to make smart changes that can help you get lower insurance prices.
The following are a few of the “ingredients” utilized by car insurance companies to help set prices.
Drive less and get lower premiums – The higher the miles on your Volvo in a year the higher the price you pay to insure it. Most companies charge rates based upon how you use the vehicle. Vehicles that are left in the garage can get a lower rate than cars that get driven a lot. Incorrect rating for your S80 may be costing you higher rates. It’s a good idea to make sure your insurance policy reflects the proper vehicle usage.
Do you really need roadside assistance? – There are a lot of extra coverages that you can get tricked into buying if you aren’t diligent. Coverages for roadside assistance, towing, and additional equipment coverage are examples of these. The coverages may be enticing at first, but if you have no use for them think about removing them and cutting costs.
How your age affects premiums – Teenage drivers in Minnesota have been known to be more careless when driving and because of this, their insurance rates are much higher. Having to add a first-time driver onto a policy can be very expensive. Mature drivers have been proven to be more responsible, tend to file fewer claims, and usually have better credit.
The chart below is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
Are men or women drivers cheaper? – The statistics show that females take fewer risks when driving. The data does not necessarily mean that males are worse at driving than females. Females and males tend to get into accidents at about the same rate, but the men have costlier accidents. Men also receive more major tickets like driving under the influence (DUI). Male drivers age 16 to 19 have the highest risk to insure so it costs more to insure them.
The chart below illustrates the difference between Volvo S80 car insurance rates for male and female drivers. The premiums are based on a clean driving record, no claims, comp and collision included, $100 deductibles, marital status is single, and no policy discounts are applied.
GPS tracking and theft deterrents lower rates – Selecting a car model with advanced anti-theft systems can save you a little every year. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft and help bring rates down.
Defend yourself with liability protection – Your policy’s liability coverage will protect you if ever you are found to be at fault for personal injury or accident damage. Liability insurance provides for a legal defense up to the limits shown on your policy. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
Loss statistics for a Volvo S80 – Insurers use past insurance losses when they calculate premium rates for each model. Vehicles that the data determines to have higher number or severity of losses will be charged more to insure.
The table below demonstrates the insurance loss data used by companies for Volvo S80 vehicles. For each coverage type, the claim probability for all vehicles averaged together is a value of 100. Numbers under 100 suggest a positive loss record, while values that are above 100 indicate a higher chance of having a claim or statistically larger losses.
|Specific Volvo Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo S80 4dr 2WD||82|
|Volvo S80 4dr 4WD||93|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Minnesota car insurance companies
Selecting a highly-rated insurance provider can be a challenge considering how many different companies sell coverage in Minnesota. The company information in the lists below may help you choose which car insurance providers you want to consider when shopping around.
Top 10 Minneapolis Car Insurance Companies Ranked by Customer Service
- Mercury Insurance
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
Car insurance savings summarized
We just covered some good ideas how you can reduce Volvo S80 insurance premium rates online in Minneapolis. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest priced car insurance comes from an unexpected company.
Consumers change insurance companies for many reasons like denial of a claim, poor customer service, policy non-renewal or lack of trust in their agent. It doesn’t matter why you want to switch choosing a new company is not as hard as you think.
As you go through the steps to switch your coverage, don’t be tempted to reduce needed coverages to save money. There have been many situations where an accident victim reduced uninsured motorist or liability limits and learned later that it was a big error on their part. Your goal should be to buy a smart amount of coverage at an affordable rate while still protecting your assets.
To read more, feel free to visit the articles below:
- Rental Car Insurance Tips (Insurance Information Institute)
- How Much is Car Insurance for Drivers Over Age 50 in Minneapolis? (FAQ)
- How Much are Auto Insurance Rates for Young Drivers in Minneapolis? (FAQ)
- What Car Insurance is Cheapest for a Toyota 4Runner in Minneapolis? (FAQ)
- How Much are Car Insurance Quotes for a GMC Sierra in Minneapolis? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Determining Auto Insurance Rates (GEICO)