Cheap Volvo V50 Insurance in Colorado Springs

Insurance for Volvo V50Finding cheaper insurance for your Volvo V50 in Colorado can turn out to be a painful process, but you can learn a few tricks and make it easy.

There are more efficient ways to find auto insurance online and we’ll show you the absolute fastest way to quote coverages for a new or used Volvo and find the lowest price from both online companies and Colorado Springs agents.

It’s a good habit to get comparison quotes on a regular basis since insurance prices tend to go up over time. If you had the lowest price on Volvo V50 insurance in Colorado Springs a couple years back there may be better deals available now. Forget anything you know (or think you know) about auto insurance because you’re about to learn how to quote online to lower your rates without sacrificing coverage.

Comparison shopping for more affordable insurance coverage in Colorado Springs is not that difficult. If you have a current insurance policy or are just looking to switch companies, use these cost-cutting techniques to find better prices without reducing protection. Smart shoppers just need to understand the best way to shop their coverage around from many different companies.

Companies offering Volvo V50 insurance in Colorado

The car insurance companies shown below can provide price quotes in Colorado Springs, CO. If multiple companies are listed, we suggest you visit two to three different companies to get the most competitive price.

Rates and other information

The rate table shown below covers estimates of insurance costs for Volvo V50 models. Learning as much as possible about how insurance policy rates are formulated can benefit drivers when making smart choices when selecting a policy.

Volvo V50 Insurance Rates in Colorado Springs, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $284 $434 $460 $28 $138 $1,344 $112
V50 AWD T5 R-Design $284 $500 $460 $28 $138 $1,410 $118
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Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Estimates do not factor in Colorado Springs location which can modify coverage prices noticeably.

Comparison of policy deductibles

One common question asked by Colorado Springs drivers is which deductible level should you buy. The rates below can help you understand the difference in cost between low and high deductibles. The first data set uses a $250 physical damage deductible and the second set of rates uses a $1,000 deductible.

Volvo V50 insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $306 $538 $352 $20 $106 $1,347 $112
V50 AWD T5 R-Design $306 $620 $352 $20 $106 $1,429 $119
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Volvo V50 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $190 $340 $352 $20 $106 $1,008 $84
V50 AWD T5 R-Design $190 $390 $352 $20 $106 $1,058 $88
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Premium costs do not factor in specific location which can increase or decrease premiums substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs about $30 more each month or $360 for a full year than quoting the higher $1,000 deductible. Because you would be required to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 25 months between claim filings, you would save money if you opt for a higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $116
Average monthly premium for $1,000 deductibles (subtract): – $86
Monthly savings from raising deductible: $30
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $30
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

An important sidenote is that higher deductibles means you pay more out-of-pocket when you file a claim. You need enough disposable savings in order to pay the higher deductible in order to repair your vehicle.

Volvo V50 Insurance Premium Factors

It’s important that you understand some of the things that aid in calculating your premiums. When you understand what influences your rates, this allows you to make educated decisions that could help you find much lower annual insurance costs.

The items below are a partial list of the pieces that factor into rates.

Premiums are affected by your credit rating – A driver’s credit score is a big factor in determining what you pay for insurance. People that have excellent credit scores tend to be more responsible and file fewer claims as compared to drivers with poor credit. If your credit history leaves room for improvement, you could pay less to insure your Volvo V50 by taking the time to improve your credit score.

Getting married can save on insurance – Being married can get you a discount on insurance. Marriage is viewed as being more responsible and it’s proven that being married results in fewer claims.

Gender impacts prices – Over time, data shows women are more cautious behind the wheel. The data does not necessarily mean that men are WORSE drivers than women. They both tend to get into accidents in similar percentages, but guys tend to have higher claims. Men also tend to receive more major tickets such as DWI and reckless driving. Young men ages 16 to 20 have the highest risk to insure and are penalized with high insurance rates.

The chart below illustrates the difference between Volvo V50 car insurance costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.

Infrequent drivers can save – Driving more miles in a year’s time the more you’ll pay to insure your vehicle. Almost all companies calculate rates determined by how the vehicle is used. Vehicles not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Improper usage on your V50 is just wasting money. It’s a smart idea to ensure your vehicle rating is showing the correct driver usage, because improper ratings can cost you money.

Remove unneeded extra coverages – There are a lot of optional add-on coverages that you can get tricked into buying on your insurance policy. Coverages like rental car reimbursement, better glass coverage, and extra equipment coverage are probably not needed. These may sound like a good investment when you first buy your policy, but your needs may have changed so think about removing them and cutting costs.

Low deductibles mean high costs – Comp and collision deductibles define how much you are required to spend if a claim is determined to be covered. Insurance for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Examples of covered claims are rear-ending another vehicle, animal collisions, or theft of your vehicle. The more money you pay before a claim is paid (deductible), the lower your rates will be.

Save with these premium slashing discounts

Auto insurance is expensive, but companies offer discounts to help offset the cost. Certain reductions will be credited at quote time, but some must be inquired about prior to getting the savings.Cheaper auto insurance with discounts

While discounts sound great, it’s important to understand that some of the credits will not apply to your bottom line cost. Most only apply to the cost of specific coverages such as medical payments or collision. So even though you would think all the discounts add up to a free policy, companies wouldn’t make money that way.

The example below illustrates the comparison of Volvo V50 insurance prices with and without some available policy discounts. The costs are based on a male driver, no violations or accidents, Colorado state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, claim-free, safe-driver, multi-policy, and marriage discounts applied.

If you would like to choose from a list of auto insurance companies who offer discounts in Colorado, follow this link.

Buying from auto insurance agents

Some people still prefer to buy from a local agent and that is not a bad decision Good insurance agents can answer important questions and help in the event of a claim. The biggest benefit of comparing rate quotes online is that drivers can save money and get cheaper rates and still buy from a local agent. Buying from local insurance agents is definitely important in Colorado Springs.

Insurance agency in Colorado SpringsAfter filling out this quick form, your information gets sent to local insurance agents in Colorado Springs that can give you free Colorado Springs car insurance quotes for your coverage. You never need to visit any agencies as quotes are delivered immediately to you. If for some reason you want to get a comparison quote from a specific company, just find their quoting web page and submit a quote form there.

When narrowing the list to find an insurance agent, it helps to know the two different agency structures and how they work. Agents in Colorado Springs can be categorized as either exclusive agents or independent agents. Either one can sell and service insurance coverage, but it’s worth mentioning the difference in the companies they write for because it may have an impact on buying decisions.

Independent Insurance Agencies or Brokers

Independent agents are not locked into one company and that enables them to quote your coverage with lots of companies and find the cheapest rate. If your agent finds better pricing, the business is moved internally and you don’t have to do anything. When comparing rates, we recommend you compare quotes from at a minimum one independent agency to ensure the widest selection of prices. A lot of them also have access to mutual insurance companies that may have much lower rates than larger companies.

Listed below are Colorado Springs independent insurance agencies who may be able to give you pricing information.

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Exclusive Insurance Agents

Agents that elect to be exclusive can only quote rates from one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot provide prices from multiple companies so you need to shop around if the rates are high. Exclusive insurance agents receive extensive training on their company’s products and that enables them to sell even at higher rates. Many people buy insurance from these agents partially due to high brand loyalty instead of buying on price only.

Listed below is a list of exclusive agencies in Colorado Springs willing to provide comparison quotes.

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Deciding on an insurance agent shouldn’t rely on just a cheap quote. A good agent in Colorado Springs will have answers to these questions.

Upon getting good answers to these questions and a good coverage price, chances are good that you have found an auto insurance agent that is professional and can adequately provide insurance. Just understand that you can cancel coverage whenever you choose to so don’t feel that you are permanently stuck with the insurance policy for the full policy term.

Get the best coverage at the most affordable price

When buying insurance coverage, it’s a bad idea to reduce coverage to reduce premium. In too many instances, someone dropped liability limits or collision coverage only to find out that it was a big mistake. The aim is to buy a smart amount of coverage at the lowest possible cost and still be able to protect your assets.

The cheapest Volvo V50 insurance in Colorado Springs can be bought online as well as from insurance agents, so you should be comparing quotes from both to have the best selection. Some companies may not provide online quoting and most of the time these small insurance companies only sell coverage through independent insurance agents.

People change insurance companies for a number of reasons such as delays in responding to claim requests, high rates after DUI convictions, questionable increases in premium or an unsatisfactory settlement offer. Regardless of your reason for switching companies, choosing a new insurance company is easier than you think.

How to quote cheaper Volvo V50 insurance in Colorado Springs

If you want to find the absolute lowest rates, then the best way to find lower priced Volvo V50 insurance in Colorado Springs is to begin comparing prices regularly from insurers that sell auto insurance in Colorado. Drivers can shop around by completing these steps.

  1. Get a basic knowledge of car insurance and the changes you can make to drop your rates. Many rating factors that cause high rates such as inattentive driving and an unacceptable credit score can be improved by being financially responsible and driving safely.
  2. Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Allstate, while independent agents can quote rates from multiple insurance companies.
  3. Compare the new rate quotes to your current policy premium to see if you can save by switching companies. If you find a better price, verify that coverage does not lapse between policies.

A good piece of advice is to use similar limits and deductibles on each quote and and to compare every insurance company. Doing this ensures an apples-to-apples comparison and a better comparison of the market.

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