How to Compare Plano Volvo S40 Insurance

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Discount Volvo S40 insuranceIf saving the most money is your goal, then the best way to find lower priced auto insurance rates in Plano is to make a habit of comparing prices annually from providers in Texas.

  • First, learn about how auto insurance works and the changes you can make to lower rates. Many rating criteria that increase rates like your driving record and an unfavorable credit rating can be eliminated by making small lifestyle or driving habit changes. This article gives instructions to help prevent costly coverage and earn a bigger discount.
  • Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from a single company like GEICO and State Farm, while independent agencies can provide prices for a wide range of companies. View prices
  • Third, compare the new quotes to the premium of your current policy and see if you can save money. If you can save some money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.

One key aspect when comparing rates is to use identical coverage information on every quote request and and to get price estimates from as many different companies as possible. Doing this helps ensure an apples-to-apples comparison and a better comparison of the market.

It's hard to believe, but the majority of drivers have stayed with the same insurance company for at least four years, and virtually 40% of consumers have never compared rate quotes at all. Many drivers in Texas could save roughly 70% a year by just comparing quotes, but they underestimate the benefits if they switch to a new company.

Compare quotes for Plano Volvo S40 insurance

Just keep in mind that comparing more rates from different companies will enable you to find more affordable rates. Not every company provides online Plano S40 insurance quotes, so you should also compare prices from the smaller companies as well.

The companies shown below are our best choices to provide price comparisons in Plano, TX. To locate cheap auto insurance in TX, it's a good idea that you visit two to three different companies in order to get a fair rate comparison.

Auto insurance is not optional in Texas

Despite the high cost of buying insurance for a Volvo S40 in Plano, auto insurance is required by state law in Texas and it also provides benefits you may not be aware of.

  • The majority of states have compulsory liability insurance requirements which means you are required to carry specific limits of liability coverage 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.
  • If you took out a loan on your S40, almost every bank will make it mandatory that you carry insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Volvo at an extremely high rate and require you to reimburse them the higher price.
  • Insurance protects not only your Volvo S40 but also your assets. It will also cover hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If your car is damaged in a storm or accident, your auto insurance policy will cover the damage repairs after a deductible is paid.

The benefits of buying auto insurance more than cancel out the cost, especially when you need to use it. Unknowingly, the average driver is overpaying over $800 each year so you should quote rates at least once a year to save money.

Car insurance analysis for a Volvo S40

The rate table below showcases different insurance prices for Volvo S40 models. Having a better understanding of how auto insurance policy rates are determined can help you make informed decisions when shopping around for a new policy.

Volvo S40 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $202 $422 $462 $28 $138 $1,252 $104
S40 T5 $202 $422 $462 $28 $138 $1,252 $104
S40 T5 AWD R-Design $202 $422 $462 $28 $138 $1,252 $104
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Rate information does not factor in vehicle location which can influence premiums significantly.

Comparison of policy deductibles

One of the most common car insurance questions is the level to set your comp and collision deductibles. The tables below can help illustrate how much more rates are between high and low physical damage deductibles. The first rate table uses a $250 physical damage deductible and the second rate chart uses a $500 deductible.

Volvo S40 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $332 $584 $382 $22 $114 $1,459 $122
S40 T5 $332 $584 $382 $22 $114 $1,459 $122
S40 T5 AWD R-Design $332 $584 $382 $22 $114 $1,459 $122
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Volvo S40 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $270 $472 $382 $22 $114 $1,260 $105
S40 T5 $270 $472 $382 $22 $114 $1,260 $105
S40 T5 AWD R-Design $270 $472 $382 $22 $114 $1,260 $105
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rate quotes do not factor in vehicle location which can impact insurance rates greatly.

Based on the above data, using a $250 deductible could cost the average driver approximately $17 more each month or $204 a year than buying the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you usually have at least 15 months between claim filings, you would come out ahead going with the higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $250 deductibles: $122
Average monthly premium for $500 deductibles (subtract): - $105
Monthly savings from raising deductible: $17
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $17
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

One thing to note is that raising deductibles to save money results in a higher out-of-pocket expense if you have a claim. It will be required that you have some non-essential savings in the event you have to pay the higher deductible.

The diagram below illustrates how your deductible choice and can change Volvo S40 annual premium costs for each different age category. The data is based on a single female driver, comp and collision included, and no additional discounts are factored in.

These discounts can lower your car insurance rates

Car insurance companies do not advertise the entire discount list very well, so below is a list a few of the more well known and the harder-to-find credits available to lower your premiums when you buy Plano auto insurance online.Cheaper car insurance with discounts

  • Driver's Ed - It's a good idea to have your young drivers participate in a local driver's education class in school or through a local driver safety program.
  • Telematics Data - Drivers that enable their car insurance company to study driving habits through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could save a few bucks if they are good drivers.
  • Mature Driver Discount - If you're over the age of 55, you could receive a slight reduction on a Plano auto insurance quote.
  • E-sign - Certain car insurance companies will discount your bill up to fifty bucks just for signing your application on the internet.
  • Discount for New Cars - Buying coverage on a new vehicle can be considerably cheaper compared to insuring an older model.

A little disclaimer on discounts, most discount credits are not given to the whole policy. Some only reduce specific coverage prices like liability and collision coverage. Just because it seems like it's possible to get free car insurance, companies don't profit that way.

The information below illustrates the difference between Volvo S40 insurance rates with and without policy discounts. The premiums are based on a male driver, no violations or accidents, Texas 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 homeowner, multi-car, multi-policy, marriage, claim-free, and safe-driver discounts applied.

To view car insurance companies that offer many of these discounts in Texas, click this link.

When to get professional advice

When it comes to buying adequate coverage for your personal vehicles, there really is not a one size fits all plan. Everyone's needs are different.Drive safe and save

Here are some questions about coverages that might point out whether or not you could use an agent's help.

  • Do I need special coverage while pulling a rented trailer?
  • Do I need higher collision deductibles?
  • Am I insured when driving a different vehicle?
  • Is my Volvo S40 covered for smoke damage?
  • Is motorclub coverage worth it?
  • Does my personal policy cover me when driving out-of-state?
  • Are there companies who specialize in insuring high-risk drivers?
  • What is UM/UIM insurance?

If it's difficult to answer those questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form.

How to find a good Plano auto insurance company

Ending up with a high-quality car insurance company is hard considering how many choices you have in Texas. The rank data in the next section could help you decide which insurers you want to consider comparing price quotes from.

Top 10 Plano Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Top 10 Plano 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%