If saving money is your primary concern, then the best way to get low-cost car insurance rates in Plano is to begin comparing prices regularly from providers who can sell car insurance in Texas. Rates can be compared by following these steps.
First, try to learn about what is in your policy and the factors you can control to keep rates down. Many risk factors that cause high rates like traffic violations, accidents, and a negative credit history can be eliminated by making minor changes in your lifestyle. Later in this article we will cover additional ideas to help prevent high rates and get bigger discounts.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like GEICO or State Farm, while agents who are independent can provide rate quotes for a wide range of insurance providers. Compare rates
Third, compare the new quotes to your existing rates to see if a cheaper rate is available. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, provide proper notification to your current company of your intent to cancel your existing policy and submit a signed application and payment to the new company. Once the application is submitted, place the new proof of insurance paperwork with your vehicle’s registration.
The most important part of this process is to try to use the same coverage limits and deductibles on every price quote and and to look at as many different companies as possible. Doing this enables an apples-to-apples comparison and a good representation of prices.
We don’t have to point out that fact that auto insurance companies don’t want you to look for cheaper rates. Consumers who compare other rates are highly likely to switch companies because they stand a good chance of finding coverage at a more affordable price. A study showed that consumers who routinely shopped for cheaper coverage saved an average of $3,500 over four years as compared to drivers who never shopped for cheaper rates.
If finding budget-friendly car insurance in Plano is your objective, then having an understanding of the best ways to shop for coverages can make the process less intimidating.
Locating the best insurance company for you in Plano is actually quite simple. If you already have coverage, you will be able to find better prices using the tips covered below. You just have to understand the least time-consuming way to shop from many different companies online.
Car insurance policy discounts you can’t miss
Car insurance can cost a lot, but there’s a good chance there are discounts that many people don’t even know exist. Some trigger automatically when you quote, but once in a while a discount must be specially asked for before you get the savings. If you do not check that you are getting every discount possible, you’re just leaving money on the table.
- Driver Safety – Taking part in a course teaching defensive driving skills may get you a small discount and easily pay for the cost of the class.
- Service Members Pay Less – Being on active duty in the military may lower your car insurance rates slightly.
- Good Student – Excelling in school can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up to age 25.
- Safe Driver Discounts – Safe drivers may save up to 50% more than drivers with accidents.
- Discount for Home Ownership – Just owning your own home can save you money since owning and maintaining a home is proof that your finances are in order.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use a seat belt can save 10% or more on the premium charged for medical payments and/or PIP.
- Telematics Data – People who choose to allow their company to analyze driving habits by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they exhibit good driving behavior.
- Low Miles Discount – Maintaining low annual mileage could be rewarded with better rates on cars that stay parked.
One thing to note about discounts is that most discounts do not apply to your bottom line cost. Most only apply to specific coverage prices like physical damage coverage or medical payments. Even though it may seem like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
The chart below illustrates the comparison of Volvo S80 premium costs with and without discounts applied to the rates. The rates are based on a female driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, homeowner, multi-car, and marriage discounts applied.
A few of the larger companies and the discounts they provide include:
- Progressive has discounts for online signing, multi-vehicle, continuous coverage, online quote discount, and multi-policy.
- The Hartford offers premium reductions for anti-theft, vehicle fuel type, bundle, air bag, driver training, and good student.
- Mercury Insurance discounts include accident-free, good driver, ease of repair, good student, and location of vehicle.
- GEICO may offer discounts for anti-theft, driver training, multi-policy, emergency military deployment, air bags, and military active duty.
- AAA has savings for education and occupation, good driver, good student, AAA membership discount, multi-car, multi-policy, and anti-theft.
- State Farm offers discounts including Drive Safe & Save, accident-free, student away at school, good student, and defensive driving training.
If you need lower rates, check with all companies you are considering what discounts are available to you. All car insurance discounts might not be offered in your state. To see a list of car insurance companies offering car insurance discounts in Texas, click here to view.
The providers in the list below have been selected to offer quotes in Texas. In order to find cheap auto insurance in Texas, it’s highly recommended you get rate quotes from several of them to get the cheapest price.
Coverage statistics and figures
The coverage table below outlines different insurance costs for Volvo S80 models. Understanding how premiums are figured is important for making decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S80 T6 AWD||$410||$828||$514||$30||$154||$1,936||$161|
|S80 Executive AWD||$410||$936||$514||$30||$154||$2,044||$170|
|S80 V8 AWD||$452||$936||$514||$30||$154||$2,086||$174|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can lower or raise coverage rates significantly.
The example below demonstrates how deductible levels and can raise or lower Volvo S80 insurance premiums for each different age category. Data assumes a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
How Your S80 Insurance Rates are Determined
Consumers need to have an understanding of some of the factors that are used to determine the level of your policy premiums. If you know what positively or negatively impacts your premiums, this enables informed choices that could result in lower auto insurance prices. Lots of things are used in the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving history, but others are not quite as obvious like your continuous coverage or your vehicle rating.
The items below are some of the things used by companies to determine rates.
Accidents are costly – How you drive influences premium rates substantially. Having a single ticket could increase your next policy renewal to the point where it’s not affordable. Drivers who don’t get tickets receive lower rates as compared to those with violations. Drivers who have received dangerous violations like DUI, reckless driving or excessive speeding may find that they have to to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive a vehicle.
The chart below demonstrates how traffic citations and fender-benders can impact Volvo S80 annual premium costs for different age categories. Data assumes a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.
- Cheaper rates by combining – Some insurance companies afford better rates to clients that purchase more than one policy, otherwise known as a multi-policy discount. Even if you qualify for this discount already, it’s always a smart idea to compare other company rates to help ensure you have the lowest rates.
- Remove unneeded add-on coverages – There are a ton of add-on coverages that you can buy if you aren’t diligent. Things like roadside assistance, better glass coverage, and motor club memberships are examples of these. These coverages may sound good at first, but your needs may have changed so eliminate them to save money.
- Improve your credit rating and save – Having a bad credit score will be a significant factor in determining what you pay for auto insurance. People that have very good credit scores tend to be more responsible and file fewer claims than those with poor credit scores. Therefore, if your credit history leaves room for improvement, you may save money insuring your Volvo S80 if you improve your credit rating.
- Proper usage rating affects premiums – Driving a lot of miles every year the more you’ll pay to insure your vehicle. Most companies calculate rates partially by how you use the vehicle. Cars not used for work or commuting cost less to insure than vehicles that are driven to work every day. Verify your auto insurance policy is showing the correct driver usage. An incorrectly rated S80 may be wasting your money.
- High stress vocation may mean higher rates – Did you know that where you work can have an impact on rates? Careers like judges, police officers, and miners tend to have higher premium rates because of intense work situations and long work hours. On the flip side, careers such as professors, students and performers get better rates.
The type of car makes a difference – The type of car or truck you own makes a big difference in your premium level. Lower cost passenger vehicles usually have the lowest premiums, but that’s not the only thing that factors into the final price.
The following chart is based on a married male driver age 20, full coverage with $100 deductibles, and no discounts or violations. The data compares Volvo S80 rates compared to other models that have a range of performance rating factors.
- Don’t abuse insurance claims – Companies in Texas give better rates to drivers who are not frequent claim filers. If you file a lot of claims you can pretty much guarantee either higher rates or even cancellation. Your insurance policy is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Volvo S80 claim data – Car insurance companies factor in historical loss data to calculate a price that offsets possible losses. Models that the data determines to have higher number or severity of losses will have higher premium rates. The data below shows the compiled insurance loss statistics for Volvo S80 vehicles.
For each type of coverage, the statistical loss for all vehicles compiled together is equal to 100. Values below 100 represent a good loss history, while values over 100 show a trend for more claims or tendency to have higher losses.
Insurance Loss Ratings for Volvo S80 Vehicles Specific Volvo Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo S80 4dr 2WD 82 Volvo S80 4dr 4WD 93BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to contact an agent
Certain consumers prefer to get advice from a local agent and that is just fine! Licensed agents are trained risk managers and will help you if you have claims. The biggest benefit of getting online price quotes is the fact that you can find lower prices and still choose a local agent.
To make it easy to find an agent, after completing this quick form, your insurance data gets sent to agents in your area who will give you quotes for your coverage. You don’t have to leave your house since rate quotes are delivered immediately to you. If you need to get a comparison quote from a specific insurance provider, you just need to visit that company’s website and complete a quote there.
Choosing the best provider shouldn’t rely on just the bottom line cost. The questions below may impact your decision as well.
- Has the agent ever had any license suspensions?
- Do they assist clients in filing claims?
- When do they do policy reviews?
- Can glass repairs be made at your home?
- How long has their agency been open in Plano?
- Will your rates increase after a single accident?
- Which family members are covered?
If you are searching for a reliable insurance agent, it helps to know the two different agency structures and how they function. Insurance agents in Plano are categorized either independent agents or exclusive agents depending on their employer. Either one can insure your vehicles properly, but it’s important to point out the difference in how they write coverage since it can affect your agent selection.
Exclusive Insurance Agents
Exclusive agents work for only one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents cannot place coverage with different providers so keep that in mind. Exclusive agents are well trained on their company’s products and that enables them to sell even at higher rates. Some consumers prefer to buy from exclusive agents primarily because of the prominence of the brand and solid financial strength.
Listed below are Plano exclusive agents who may provide you with price quotes.
- Korina Hernandez – State Farm Insurance Agent
2301 N Central Expy #260 – Plano, TX 75075 – (972) 423-7667 – View Map
- Louie Devega – State Farm Insurance Agent
6205 Coit Rd #300 – Plano, TX 75024 – (214) 473-9000 – View Map
- Tamara Murphy – State Farm Insurance Agent
4504 Legacy Dr #200 – Plano, TX 75024 – (972) 943-9555 – View Map
Independent Insurance Agents
These agents are not restricted to one company so they can quote policies amongst many companies and possibly get better coverage at lower prices. If prices rise, your agent can switch companies and you can keep the same agent. When comparing rates, you absolutely need to compare quotes from a few independent agents in order to compare the most rates. Most can insure with companies you’ve never heard of that many times have cheaper rates.
The following is a short list of independent insurance agencies in Plano willing to provide price quote information.
- Hallmark Insurance Co
6500 Pinecrest Dr – Plano, TX 75024 – (800) 486-5616 – View Map
- Sterling Insurance Group
3415 Custer Rd #161 – Plano, TX 75023 – (972) 964-4825 – View Map
- VGW Insurance
4040 McDermott Rd #200 – Plano, TX 75024 – (972) 668-1000 – View Map
Three reasons to insure your Volvo S80
Despite the potentially high cost of Volvo S80 insurance, paying for car insurance is required by state law in Texas and it also provides benefits you may not be aware of.
First, most states have mandatory insurance requirements which means the state requires specific limits of liability insurance if you don’t want to risk a ticket. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your S80, most banks will force you to buy full coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank will be required to insure your Volvo at a much higher rate and require you to fork over much more than you were paying before.
Third, car insurance protects both your Volvo and your assets. It will also pay for most medical and hospital costs that are the result of an accident. As part of your policy, liability insurance will also pay attorney fees in the event you are sued. If you have damage to your Volvo as the result of the weather or an accident, comprehensive and collision coverage will cover the repair costs.
The benefits of carrying adequate insurance greatly outweigh the cost, especially for larger claims. The average driver in Texas is wasting up to $810 a year so compare rate quotes once a year at a minimum to ensure rates are competitive.
More quotes mean more auto insurance savings
You just read a lot of ways to save on Volvo S80 insurance in Plano. The key thing to remember is the more providers you compare, the higher the chance of saving money. You may even discover the lowest prices are with the smaller companies.
Consumers switch companies for a number of reasons such as an unsatisfactory settlement offer, lack of trust in their agent, questionable increases in premium and policy non-renewal. Whatever your reason, finding a great new company can be easier than you think.
Cost effective Volvo S80 insurance can be purchased from both online companies and also from your neighborhood Plano agents, so you should compare both in order to have the best price selection to choose from. A few companies may not offer price quotes online and these small, regional companies only sell through independent agencies.
To learn more, link through to these articles:
- Choosing an Insurance Company (Insurance Information Institute)
- Who Has Affordable Plano Auto Insurance Rates for Hybrid Vehicles? (FAQ)
- What Auto Insurance is Cheapest for 4×4 Vehicles in Plano? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Senior Drivers (Insurance Information Institute)
- Credit Impacts Car Insurance Rates (State Farm)