How long has it been since you sat down and looked for more competitive Volvo V60 insurance in Chicago? Having to pay for expensive Volvo V60 insurance in Chicago can dwindle your family’s budget and force you to prioritize other expenses. Shopping your coverage around is free, only takes a few minutes, and is a good way to cut your insurance bill.
Unimaginable but true, most consumers kept their policy with the same company for four years or more, and nearly the majority have never compared rate quotes at all. Consumers in Illinois could pocket 40% a year, but they don’t know how much they could save if they just switched companies.
There are many insurance companies to choose from, and although it’s nice to have a choice, too many choices makes it more difficult to find the best rates for your vehicles.
This information will instruct you on how car insurance works and how to save the most money. If you are paying for car insurance now, you stand a good chance to be able to find better prices using this information. Although Illinois vehicle owners must comprehend the way companies set your policy premium because rates are impacted by many factors.
Companies offering Volvo V60 insurance in Illinois
The following companies offer free rate quotes in Chicago, IL. If multiple providers are shown, we suggest you visit several of them to get a more complete price comparison.
Volvo V60 insurance discounts in Chicago
Car insurance is not an enjoyable expense, but discounts can save money and there are some available to help offset the cost. Some trigger automatically at quote time, but a few must be specially asked for before being credited.
- Early Switch Discount – A few larger companies give discounts for switching companies prior to the expiration date on your current V60 insurance policy. You could save around 10% when you buy Chicago auto insurance online.
- Multiple Vehicles – Buying insurance for primary and secondary vehicles with one company may reduce the rate for each vehicle.
- Discount for Life Insurance – Select companies reward you with a discount if you purchase some life insurance too.
- Safe Driver Discount – Insureds who avoid accidents may save up to 50% more than less cautious drivers.
- Smart Student Discounts – Maintaining excellent grades can save 20 to 25%. The discount lasts until age 25.
- Drive Less and Save – Low annual miles could qualify for lower prices due to less chance of an accident.
Don’t be surprised that some of the credits will not apply to the whole policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when it seems like adding up those discounts means a free policy, you’re out of luck.
A few popular companies and some of their more popular discounts can be found below.
- State Farm policyholders can earn discounts including defensive driving training, accident-free, Drive Safe & Save, multiple autos, and good driver.
- American Family has discounts for Steer into Savings, air bags, multi-vehicle, TimeAway discount, early bird, and accident-free.
- GEICO offers discounts including driver training, daytime running lights, anti-lock brakes, membership and employees, anti-theft, and defensive driver.
- 21st Century may have discounts that include homeowners, theft prevention, defensive driver, anti-lock brakes, early bird, student driver, and teen driver.
- Progressive offers premium reductions for online signing, good student, continuous coverage, multi-policy, homeowner, online quote discount, and multi-vehicle.
When getting a coverage quote, ask every company how many discounts you can get. Some of the earlier mentioned discounts might not be offered on policies in every state. To see providers with discount rates in Chicago, follow this link.
What Determines Volvo V60 Insurance Costs?
A large part of saving on insurance is knowing the different types of things that help determine your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this helps enable you to make changes that can earn you lower rates.
- High deductibles equal low rates – Insurance for physical damage to your car, aka comp and collision, insures against damage to your Volvo. Examples of some claims that would be covered are a broken windshield, damage caused by hail, and burglary. Your deductibles define how much you are required to pay if the claim is covered. The larger the amount you pay before a claim is paid (deductible), the lower your rates will be.
- Bundle policies and save – Most larger insurance companies will award better rates to buyers who carry more than one policy such as combining an auto and homeowners policy. The amount of the discounts can be five, ten or even twenty percent. Even if you qualify for this discount already, you still need to compare other company rates to help guarantee you have the best rates.
- Never let your insurance policy lapse – Driving your car without having proper coverage is a big no-no and insurance companies will penalize you for letting your insurance coverage expire. In addition to paying higher rates, being ticketed for driving with no insurance could result in a revoked license or a big fine. You may need to prove you have insurance by filing a SR-22 with the Illinois department of motor vehicles.
- Frequent policy claims will cost more – Car insurance companies in Illinois provide cheaper rates to people that do not abuse their auto insurance. If you are a frequent claim filer, you can expect higher premiums or even policy non-renewal. Auto insurance is intended for the large, substantial claims.
- Miles driven impacts rates – The higher the miles on your Volvo in a year’s time the more you’ll pay to insure your vehicle. Most insurance companies calculate prices based upon how the vehicle is primarily used. Autos that sit idle most of the time receive better premium rates compared to those used for work or business. An incorrectly rated V60 is throwing money out the window. It’s a smart idea to ensure your insurance policy properly reflects how each vehicle is driven.
- Reduce insurance rates by driving safer cars – Safer cars get lower rates. Vehicles built for safety help reduce the chance of injuries in an accident and fewer injuries means lower claim amounts passed on to you as lower rates. If the Volvo V60 scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
- Insurance losses for a Volvo V60 – Insurers use past loss statistics for each vehicle to help set a rate to offset losses. Models that have a trend towards higher claim severity or frequency will have a higher cost to insure.
The table below outlines the compiled insurance loss statistics for Volvo V60 vehicles. For each policy coverage, the loss probability for all vehicles, without regard to make or model, equals 100. Percentage values below 100 mean the vehicle has better than average losses, while values that are above 100 show a trend for more claims or tendency to have larger claims.
Volvo V60 Insurance Loss Statistics
Specific Volvo Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo V60 2WD 68 53 Volvo V60 4WD 136 75
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
When should I discuss my situation with an agent?
When quoting and choosing the best car insurance coverage, there really is no “perfect” insurance plan. Your financial needs are unique.
For instance, these questions could help you determine whether or not you will benefit from professional help.
- What are the liability requirements in my state?
- Does my car insurance cover rental cars?
- What is the ISO rating for a Volvo V60?
- Are rental cars covered under my policy?
- Am I covered when driving someone else’s vehicle?
- What does UM/UIM cover?
- What if I total my Volvo V60 and owe more than it’s worth?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, simply complete this short form.
Can’t I compare prices from local Chicago car insurance agents?
Some people would rather go talk to an agent and that is OK! One of the great benefits of comparing rate quotes online is that you can obtain lower premium rates and still have an agent to talk to. And providing support for local insurance agents is important particularly in Chicago.
After filling out this quick form, your insurance coverage information is instantly submitted to agents in your area who will gladly provide quotes to get your business. You never need to drive around due to the fact that quote results will go to you directly. You can find the lowest rates without requiring a lot of work. In the event you want to get a price quote from a particular provider, you just need to search and find their rate quote page and give them your coverage information.
When narrowing the list to find a reliable insurance agent, there are a couple of different types of agencies and how they work. Chicago agents are categorized either independent agents or exclusive agents.
Independent Auto Insurance Agents
Agents of this type often have affiliation with several companies so they can insure your vehicles with lots of companies and get the cheapest rates. To move your coverage to a new company, your agent can just switch to a different company and you won’t have to switch agencies.
When comparing auto insurance prices, it’s a good idea to compare prices from multiple independent agents for the best price selection.
Featured below is a list of independent agents in Chicago who can help you get cheap rate quotes.
Agents of this type normally can only provide a single company’s rates and some examples include Allstate, State Farm and Farm Bureau. They generally cannot compare rates from other companies so they have to upsell other benefits. Exclusive agencies are very knowledgeable on the products they sell which helps them compete with independent agents.
Shown below is a list of exclusive insurance agents in Chicago that are able to give rate quotes.
Deciding on a auto insurance agent should include more criteria than just a cheap quote. Before buying a policy in Chicago, get answers to these questions.
- Are claims handled at the agent’s location?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do they feel the quoted coverages are adequate?
- If independent agents, which companies do they recommend?
- Is their price quote a firm figure or are their hidden costs?
- Is there a 24/7 contact number?
- Can they give you a list of client referrals?
After getting satisfactory answers and locked in a price quote, it’s a good possibility that you have found an insurance agent that meets the criteria to properly insure your vehicles.
In the end, you can save money
You just learned many ways to lower your Volvo V60 insurance rates in Chicago. The key concept to understand is the more rate quotes you have, the better your comparison will be. You may even be surprised to find that the best rates are with a lesser-known regional company.
Insureds who switch companies do it for many reasons like questionable increases in premium, high rates after DUI convictions, poor customer service or delays in paying claims. Whatever your reason, switching companies can be easy and end up saving you some money.
When buying insurance coverage, it’s a bad idea to skimp on coverage in order to save money. There are a lot of situations where an insured dropped uninsured motorist or liability limits and learned later that the few dollars in savings costed them thousands. Your objective should be to find the BEST coverage for the lowest cost, but do not sacrifice coverage to save money.
For more information, link through to the articles below:
- Distracted Driving Extends Beyond Texting (State Farm)
- Who Has the Cheapest Car Insurance Quotes for High School Students in Chicago? (FAQ)
- Who Has Affordable Chicago Car Insurance Quotes for Drivers Over Age 60? (FAQ)
- What is the Best Car Insurance in Chicago, IL? (FAQ)
- How Much are Chicago Car Insurance Rates for Unemployed Drivers? (FAQ)
- Who Has Affordable Chicago Auto Insurance for Drivers with Good Credit? (FAQ)
- Who Has Cheap Auto Insurance for a Subaru Outback in Chicago? (FAQ)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)