Save Money on Volvo V50 Insurance in Tampa

Have you had enough of being strong-armed to make your insurance payment? Your situation is no different than most other consumers in Florida.

It’s safe to conclude that insurance companies want to prevent you from shopping around. Insureds who shop around at least once a year are highly likely to move their business because they have a good chance of finding lower rate quotes. Remarkably, a study showed that drivers who compared rates annually saved on average $70 a month compared to drivers who never shopped for cheaper rates.

If finding discount rates on insurance is your intention, then understanding how to get rate quotes and compare insurance rates can make the process less intimidating.

How to find affordable Volvo V50 insurance in Tampa

The preferred way to find more affordable car insurance rates in Tampa is to regularly compare price quotes from companies who provide car insurance in Florida.

Step 1: Get an understanding of policy coverages and the factors you can control to drop your rates. Many rating criteria that cause rate increases like speeding and a substandard credit score can be rectified by being financially responsible and driving safely.

Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from a single company like GEICO or Allstate, while agents who are independent can provide rate quotes for a wide range of insurance providers. Find a Tampa insurance agent

Step 3: Compare the new rate quotes to the premium of your current policy and determine if cheaper V50 coverage is available. If you find a lower rate quote and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

Step 4: Give notification to your agent or company of your intention to cancel your current policy. Submit the required down payment along with the signed application to the new insurer. As soon as coverage is bound, keep your new certificate of insurance with your registration paperwork.

One thing to point out is to try to use similar limits and deductibles on each quote request and and to get prices from as many companies as possible. Doing this enables a level playing field and a complete selection of prices.

Companies like State Farm and GEICO continually hit you with ads and it is difficult to see through the cute green geckos and mayhem and effectively compare rates to find the best deal.

Smart consumers take time to get comparison quotes occasionally because insurance rates change quite often. Just because you had the best deal on Volvo V50 insurance in Tampa a couple years back you will most likely find a better price today. Forget anything you know (or think you know) about insurance because it’s time to teach you the fastest way to save on insurance.

If you have auto insurance now, you will most likely be able to shop for the lowest rates using the ideas covered in this article. Finding affordable coverage in Tampa is really quite simple as long as you have a good starting point. Nevertheless, Florida vehicle owners benefit from understanding the way insurance companies calculate your policy premium because rates fluctuate considerably.

The quickest method to compare insurance rates in your area is to know almost all companies allow for online access to give you rate quotes. To get started, all you need to do is give them some information like your occupation, types of safety features, if you have an active license, and the type of vehicles you drive. The rating information is instantly submitted to multiple top-rated companies and you get price estimates with very little delay.

To find the cheapest Volvo V50 insurance rates, click here and complete the form.

The companies in the list below have been selected to offer comparison quotes in Florida. To get cheap car insurance in Florida, we recommend you click on several of them to get the lowest price.

Coverage statistics and figures

The price information shown below highlights a range of insurance premium costs for Volvo V50 models. Having a better idea how auto insurance prices are formulated can benefit drivers when making smart choices when selecting a coverage provider.

Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in specific location information which can affect prices noticeably.

Car insurance deductibles

One of the more difficult decisions when buying car insurance is how high should the physical damage deductibles be. The rates shown below help summarize the price difference between low and high comp and collision deductibles. The first set of rates uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Information does not factor in specific zip code location which can impact coverage rates substantially.

Based on this data, using a $250 deductible costs roughly $19 more each month or $228 a year across all Volvo V50 models than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 13 months between claim filings, you would probably save some money by going with a higher deductible. The table below illustrates an example of how this determination is made.

One thing to be aware of is that a higher deductible level results in more money out-of-pocket when you have a comprehensive or collision claim. You should have enough disposable savings in order to pay the deductible for vehicle repair.

Car insurance rates by gender and age in Tampa

The chart below visualizes the comparison of Volvo V50 car insurance rates for male and female drivers. The prices are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, single status, and no other discounts are factored in.

Should you buy full coverage?

The example below shows the difference between Volvo V50 yearly insurance costs with full physical damage coverage compared to only buying liability only. The premiums are based on no accidents or driving violations, $500 deductibles, marital status is single, and no other discounts are factored in.

When to drop comp and collision

There is no written rule for phasing out physical damage insurance, but there is a broad guideline. If the annual cost of coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your Volvo V50 settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $3,000 after paying the physical damage deductible. If premiums are more than $300 a year for full coverage, then you might want to consider buying only liability coverage.

There are some conditions where eliminating full coverage is not in your best interest. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not drop full coverage.

Insurance is an important decision

Despite the high insurance cost for a Volvo V50 in Tampa, insurance is a good idea for several reasons.

First, most states have mandatory insurance requirements which means it is punishable by state law to not carry a specific level of liability if you don’t want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if your Volvo V50 has a lienholder, it’s guaranteed your bank will force you to carry insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Volvo for a lot more money and require you to reimburse them the higher price.

Third, insurance protects both your car and your personal assets. It will also cover hospital and medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to have it repaired.

The benefits of carrying enough insurance more than cancel out the cost, especially when you need to use it. Today the average American driver overpays as much as $850 per year so compare rate quotes each time the policy renews to be sure current rates are still competitive.

Auto insurance rates and discounts

Insurance can cost an arm and a leg, but there may be some discounts that many people don’t even know exist. Many discounts should be triggered at the time of quoting, but once in a while a discount must be asked about prior to receiving the credit.

• Safe Driver Discounts – Safe drivers can pay as much as 50% less than drivers with accident claims.
• Organization Discounts – Having an affiliation with a professional or civic organization can get you a small discount on your bill.
• More Vehicles More Savings – Purchasing coverage when you have multiple vehicles with the same auto insurance company can reduce rates for all insured vehicles.
• Homeowners Savings – Owning a home in Tampa can earn you a little savings since owning and maintaining a home demonstrates responsibility.
• Military Discounts – Being deployed with a military unit may qualify for rate reductions.
• Distant Student Discount – Any of your kids who attend college more than 100 miles from Tampa and do not have access to a covered vehicle may qualify for this discount.
• Early Renewal Discounts – Select insurance companies give a discount for renewing your policy before your current V50 insurance policy expires. You may see this discount when you get Tampa car insurance quotes online.
• Air Bag Discount – Vehicles equipped with air bags and/or automatic seat belt systems could see savings of up to 25% or more.

Consumers should know that some credits don’t apply to the overall cost of the policy. Some only apply to specific coverage prices like comp or med pay. Even though it may seem like you can get free auto insurance, it just doesn’t work that way. But any discount should definitely cut your auto insurance premiums.

The chart below visualizes the comparison of Volvo V50 auto insurance rates with and without some available policy discounts. The costs are based on a male driver, no claims or violations, Florida state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, safe-driver, marriage, and homeowner discounts applied.

For a list of insurers offering auto insurance discounts in Tampa, click this link.

How do I know if I need professional advice?

When it comes to choosing adequate coverage, there really is not a single plan that fits everyone. You are unique and your policy should reflect that.
Here are some questions about coverages that can help discover if you might need professional guidance.

• How much will a speeding ticket raise my rates?
• What does PIP insurance cover?
• Do I have coverage for damage caused while driving under the influence?
• I have a DUI can I still get coverage?
• At what point should I drop full coverage?
• I don’t drive much so do I pay less?
• What companies insure drivers after a DUI or DWI?
• Is my nanny covered when transporting my kids?
• What can I do if my company denied a claim?

If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.

What if I want to buy from local Tampa insurance agents?

A small number of people would rather buy from a local agent and that is not a bad decision A nice benefit of comparing rates online is the fact that you can find cheaper car insurance rates and still have an agent to talk to.

Upon completion of this simple form, your information is emailed to local insurance agents who will give you bids to get your business. There is no need to leave your house because prices are sent instantly to you. It’s the lowest rates without having to waste a lot of time. If for some reason you want to get a rate quote from a specific insurance company, don’t hesitate to visit that company’s website and complete a quote there.

Choosing a provider should include more criteria than just a cheap quote. These questions are important to ask:

• How much experience to they have in personal lines coverages?
• Are they giving you every discount you deserve?
• Do they have any clout with companies to ensure a fair claim settlement?
• How will an accident affect your rates?
• Do they feel the quoted coverages are adequate?
• Who are their largest clients?

Choose the right car insurance agent

When narrowing the list to find a good insurance agency, you need to know there are two types of agencies that you can choose from. Agents are considered either exclusive or independent.

Exclusive Auto Insurance Agencies

Agents in the exclusive channel have only one company to place business with such as AAA, Allstate, State Farm, or Farmers Insurance. They are unable to place coverage with different providers so they have no alternatives for high prices. Exclusive agencies receive a lot of sales training on their company’s products and that enables them to sell even at higher rates.

The following are Tampa exclusive agents who may provide you with comparison quotes.

View more Tampa agents

Independent Agencies or Brokers

Independent agents do not have single company limitations so they can write business with multiple insurance companies and find you cheaper rates. If prices rise, your agent can switch companies and you stay with the same agent.

When shopping rates, we recommend you get rate quotes from at a minimum one independent agency to get the best comparison.

Shown below is a list of independent agencies in Tampa willing to provide price quote information.

View more Tampa agents

Car insurance coverage options for a Volvo V50

Understanding the coverages of car insurance can help you determine the best coverages at the best deductibles and correct limits. Car insurance terms can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverage types offered by car insurance companies.

Comprehensive insurance

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like hail damage, fire damage, a broken windshield and damage from a tornado or hurricane. The maximum payout your car insurance company will pay is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for expenses for things like X-ray expenses, EMT expenses and prosthetic devices. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible

Auto liability insurance

Liability coverage will cover injuries or damage you cause to a person or their property that is your fault. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 10/20/10 which stand for $10,000 bodily injury coverage, a limit of $20,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property.

Liability coverage protects against things such as loss of income, funeral expenses, emergency aid and pain and suffering. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible. Florida requires drivers to carry at least 10/20/10 but you should think about purchasing better liability coverage.

The next chart demonstrates why minimum state limits may not be high enough to cover claims.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and damage to your Volvo V50.

Since a lot of drivers only carry the minimum required liability limits (Florida limits are 10/20/10), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Collision coverage

Collision coverage pays to fix your vehicle from damage resulting from colliding with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like sideswiping another vehicle, crashing into a building and hitting a parking meter. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to raise the deductible on your V50 to get cheaper collision coverage.

Florida car insurance company ratings

Finding the highest-rated auto insurance company can be difficult considering how many different companies sell coverage in Florida. The company rank data below could help you decide which auto insurance companies you want to consider to insure your vehicles.

Top 10 Tampa Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

Persistence is the key to cheaper rates

When getting Tampa car insurance quotes online, do not buy poor coverage just to save money. There have been many situations where consumers will sacrifice collision coverage only to regret at claim time that the small savings ended up costing them much more. Your goal is to buy a smart amount of coverage at the best possible price, not the least amount of coverage.

We just covered many ways to get a better price on Volvo V50 insurance in Tampa. The key concept to understand is the more rate comparisons you have, the better your chances of lowering your prices. Consumers could even find that the best premium rates are with an unexpected company. These companies may only write in your state and offer lower prices compared to the large companies like Allstate or State Farm.

Steps to finding cheaper Volvo V50 insurance in Tampa

The best way we recommend to save money on Volvo V50 insurance is to compare prices annually from different companies who provide car insurance in Tampa. You can compare rates by following these guidelines.

1. It will benefit you to learn about policy coverages and the measures you can take to keep rates in check. Many policy risk factors that cause high rates such as traffic tickets, fender benders, and a not-so-good credit history can be remedied by making minor changes in your lifestyle.
2. Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive and State Farm, while independent agents can provide prices for a wide range of companies. Select a company
3. Compare the new rate quotes to your current policy premium to see if a cheaper rate is available. If you find a lower rate quote, make sure coverage does not lapse between policies.
4. Tell your current company to cancel the current policy and submit the signed application along with the required initial payment for your new coverage. As soon as you can, store the proof of insurance paperwork in an accessible location in your vehicle.

A good tip to remember is to try to compare the same physical damage deductibles and liability limits on each quote and and to look at as many car insurance companies as possible. Doing this helps ensure an apples-to-apples comparison and a complete price analysis.

More tips and info about car insurance can be read by following these links:

• Tread Depth and Tire Safety (State Farm)
• Who Has Affordable Auto Insurance Rates for Nurses in Tampa? (FAQ)
• Who Has Affordable Auto Insurance Rates for Teenage Males in Tampa? (FAQ)
• A Tree Fell on Your Car: Now What? (Allstate)
• Frontal Crash Tests (iihs.org)