Want to learn how to find more competitive Volvo S40 insurance in Tampa? Getting budget-priced Tampa Volvo S40 insurance quotes on the internet may seem to be challenging for vehicle owners new to quoting and comparing prices over the internet. With such a large number of agents and companies, how are vehicle owners expected to possibly compare all the different companies and get the best available rates?
Statistics show that nearly 70% of consumers kept their coverage with the same car insurance company for four years or more, and 38% of customers have never compared rate quotes at all. Florida drivers could cut their rates by 55% a year, but they don’t want to spend time to compare rates and save money.
It’s smart to check car insurance prices before your next renewal due to the fact that insurance prices change regularly. Just because you had the best rate on Volvo S40 insurance in Tampa a few years ago you can probably find a lower rate today. There are lots of tips to save on S40 insurance out there, but we’re going to give you some excellent ideas to quit paying high car insurance rates in Tampa.
Why Your Insurance Rates might be higher
Multiple criteria are taken into consideration when you get your auto insurance bill. Some factors are common sense such as traffic violations, but others are not as apparent such as your marital status or how financially stable you are.
The items below are some of the most rate-impacting factors companies use to determine your rates.
Getting married pays dividends – Walking down the aisle may save some money compared to being single. Having a spouse demonstrates that you tend to be more mature and responsible it has been statistically shown that being married results in fewer claims.
Traffic violations are costly – Your driving citation history has a lot to do with how much you pay for insurance. Drivers who don’t get tickets pay lower auto insurance prices than their less careful counterparts. Only having one speeding ticket or other violation could increase your next policy renewal by twenty percent. Drivers who have received dangerous violations like DUI or reckless driving might be required by their state to complete a SR-22 with their state motor vehicle department in order to prevent their license from being revoked.
The illustration below shows how traffic citations and accidents can affect Volvo S40 insurance rates for different categories of driver ages. The information is based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.
A good credit rating can save money – Having a good credit score is a large factor in determining what you pay. Insureds that have very high credit ratings tend to be more responsible and file fewer claims as compared to drivers with lower credit scores. If your credit rating could use some work, you could pay less to insure your Volvo S40 if you improve your credit rating.
Male premiums may be higher – The statistics show that females take fewer risks when driving. However, don’t assume that men are WORSE drivers than women. Both genders are in at-fault accidents in similar percentages, but males have costlier accidents. In addition to higher claims, males also get higher numbers of serious violations like reckless driving and DUI.
The chart below shows the difference between Volvo S40 insurance premiums for male and female drivers. The data assumes no tickets, no at-fault accidents, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are taken into consideration.
GPS tracking and theft deterrents reduce prices – Owning a car with advanced anti-theft systems can save you some money. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent your car from being stolen.
Car and home together may be cheaper – Most major companies apply better rates to people who have multiple policies with them such as combining an auto and homeowners policy. Even though this discount sounds good, it’s still a good idea to compare other company rates to help ensure you have the lowest rates. Drivers may still find lower rates by buying insurance from more than one company.
Save by driving less – The higher the miles on your Volvo annually the higher the price you pay to insure it. Most insurance companies charge rates based upon how the vehicle is primarily used. Cars and trucks left parked in the garage receive lower rates than those that get driven frequently. Verify your auto insurance coverage correctly shows the correct usage for each vehicle. Improper usage on your S40 can cost quite a bit.
Safer vehicles cost less to insure – Vehicles with good safety scores can get you lower premiums. The safest vehicles reduce injuries and fewer injuries means lower claim amounts and cheaper rates on your policy.
Facts and figures for Volvo S40 insurance
The premium information displayed next showcases estimates of insurance costs for Volvo S40 models. Being aware of how insurance policy premiums are formulated is important for drivers to make smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $254 | $506 | $438 | $26 | $132 | $1,356 | $113 |
| S40 T5 | $254 | $506 | $438 | $26 | $132 | $1,356 | $113 |
| S40 T5 AWD R-Design | $254 | $506 | $438 | $26 | $132 | $1,356 | $113 |
| Get Your Own Custom Quote Go | |||||||
Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Premium amounts do not factor in zip code location which can affect coverage rates greatly.
Auto insurance deductibles
One of the more difficult decisions when buying auto insurance is how high or low should comp and collision deductibles be. The following insurance rates illustrate the price difference between low and high comp and collision deductibles. The first rate estimation uses a $250 deductible for physical damage and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $364 | $640 | $418 | $24 | $124 | $1,595 | $133 |
| S40 T5 | $364 | $640 | $418 | $24 | $124 | $1,595 | $133 |
| S40 T5 AWD R-Design | $364 | $640 | $418 | $24 | $124 | $1,595 | $133 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $224 | $402 | $418 | $24 | $124 | $1,192 | $99 |
| S40 T5 | $224 | $402 | $418 | $24 | $124 | $1,192 | $99 |
| S40 T5 AWD R-Design | $224 | $402 | $418 | $24 | $124 | $1,192 | $99 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Price information does not factor in zip code location which can lower or raise premiums noticeably.
Based on the above data, using a $250 deductible will cost you roughly $34 more each month or $408 every year averaged for all S40 models than requesting the higher $1,000 deductible. Since you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at a minimum 22 months between claim filings, you would probably be better off if you elect the higher deductible.
The illustration below illustrates how your deductible choice and can impact Volvo S40 insurance costs for different age categories. The rates are based on a single male driver, full coverage, and no other discounts are factored in.
Volvo S40 full coverage rates compared to liability only
The chart below illustrates the difference between Volvo S40 insurance costs with and without full coverage. The data is based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied.
When to drop comp and collision
There is no definitive formula of when to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s assume your Volvo S40 claim settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after paying your policy deductible. If premium cost is more than $700 annually to have full coverage, then it might be time to consider dropping full coverage.
There are some conditions where eliminating full coverage is not advised. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
You may qualify for discounts for Volvo S40 insurance in Tampa
Companies do not list all possible discounts very well, so we took the time to find both the well known as well as the least known savings tricks you should be using when you buy Tampa auto insurance online.
- Low Mileage Discounts – Driving fewer miles may allow you to get better prices on cars that stay parked.
- Tampa Homeowners Pay Less – Just being a homeowner can save a few bucks because owning a home requires personal responsibility.
- Discounts for Multiple Vehicles – Buying coverage for multiple vehicles on one policy can get a discount for every vehicle.
- Military Rewards – Having a deployed family member may lower your rates slightly.
- Government Employee Discount – Active or retired federal employment could provide a small rate reduction with select insurance companies.
- ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control can avoid accidents and earn discounts up to 10%.
- Driver Safety – Successfully completing a safe driver class is a good idea and can lower rates depending on where you live.
- Accident-Free Discounts – Drivers with accident-free driving histories can earn big discounts when compared with accident-prone drivers.
Discounts save money, but please remember that most credits do not apply to the entire cost. Some only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though they make it sound like you can get free auto insurance, it doesn’t quite work that way.
The information below compares Volvo S40 insurance costs with and without discounts applied to the policy premium. The price estimates are based on a female driver, a clean driving record, no claims, Florida state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, safe-driver, homeowner, and multi-policy discounts applied.
Some of the larger companies that possibly offer these benefits include:
If you are trying to find affordable Tampa auto insurance quotes, ask each insurance company which discounts you may be entitled to. Some credits might not apply in every state.
Compare. Compare. Compare.
You just learned many ways to find affordable Volvo S40 insurance in Tampa. It’s most important to understand that the more providers you compare, the higher your chance of finding low cost Tampa auto insurance quotes. You may even be surprised to find that the most savings is with a company that doesn’t do a lot of advertising.
Consumers leave their current company for a number of reasons such as extreme rates for teen drivers, being labeled a high risk driver, delays in paying claims and denial of a claim. Whatever your reason, finding a great new company can be less work than you think.
Some insurance companies may not provide the ability to get quotes online and many times these regional insurance providers provide coverage only through independent agents. Cheap Volvo S40 insurance in Tampa can be purchased on the web and with local Tampa insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates.
Steps to buying affordable Volvo S40 insurance in Tampa
Truthfully, the best way to get affordable Volvo S40 insurance in Tampa is to compare prices regularly from companies who provide auto insurance in Florida.
- First, spend some time learning about how your policy works and the factors you can control to prevent rate increases. Many policy risk factors that cause rate increases such as at-fault accidents, careless driving, and a low credit rating can be amended by making small lifestyle or driving habit changes.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like GEICO and Allstate, while agents who are independent can provide prices from multiple companies.
- Third, compare the price quotes to your existing policy to see if a cheaper price is available in Tampa. If you find a lower rate and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
One thing to remember is that you’ll want to make sure you compare the same deductibles and limits on each quote and to quote with as many companies as feasibly possible. Doing this ensures an accurate price comparison and the best rate selection.
More information can be found at the links below
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Who Has the Cheapest Tampa Car Insurance for 17 Year Olds? (FAQ)
- What Car Insurance is Cheapest for Drivers with Accidents in Tampa? (FAQ)
- Who Has Cheap Auto Insurance for a Nissan Rogue in Tampa? (FAQ)
- How Much are Tampa Car Insurance Quotes for Used Cars? (FAQ)
- Older Drivers FAQ (iihs.org)
- How do I File a Claim? (Insurance Information Institute)
- Get the Right Protection (InsureUonline.org)