It’s an obvious conclusion that auto insurance companies don’t want you shop around. Consumers who shop around are very likely to buy a new policy because there is a significant possibility of finding more affordable rates. A survey found that drivers who did price comparisons regularly saved approximately $860 a year compared to those who never compared prices.
If finding budget-friendly rates on insurance in Tampa is your ultimate objective, then having some knowledge of the best way to compare insurance can make it simple to find affordable coverage.
If your goal is the lowest price, then the best way to get low-cost Volvo S60 insurance is to do an annual price comparison from companies that sell auto insurance in Tampa. Rate comparisons can be done by following these steps.
Step 1: Learn about coverages and the modifications you can make to keep rates low. Many policy risk factors that increase rates such as careless driving and a low credit rating can be rectified by paying attention to minor details. Continue reading for additional ideas to help reduce prices and find discounts that may have been missed.
Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive or Allstate, while independent agencies can provide rate quotes from multiple sources.
Step 3: Compare the quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate quote and make a switch, ensure there is no coverage lapse between policies.
A good piece of advice is that you’ll want to make sure you compare the same level of coverage on every quote and and to get quotes from as many auto insurance providers as possible. Doing this guarantees an accurate price comparison and the most accurate and complete price analysis.
Finding the cheapest auto insurance coverage in Tampa can initially seem challenging. If you have a current auto insurance policy or are looking for a new policy, use these tips to save money without reducing coverage. Vehicle owners just need to use the tricks to compare different rates on the web.
Decisions You Make Can Impact Your Insurance Premiums
Lots of factors are considered when pricing auto insurance. Most are fairly basic like a motor vehicle report, although some other factors are not quite as obvious such as your credit history or how safe your car is. An important part of buying insurance is that you know a few of the rating criteria that help calculate the price you pay for insurance. When consumers understand what influences your rates, this helps enable you to make changes that can help you get cheaper rates.
The following are just a few of the factors used by insurance companies to determine prices.
Alarms and GPS tracking lower prices – Buying a car with an alarm system can get you a discount on your insurance. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your vehicle from being stolen.
Pleasure use or commuting – The more you drive your Volvo in a year’s time the higher the price you pay to insure it. Almost all companies charge to insure your cars partially by how you use the vehicle. Cars that are left in the garage get more affordable rates than vehicles that are driven to work every day. It’s always a good idea to double check that your declarations sheet is showing the correct usage. Improper usage on your S60 may be wasting your money.
With age comes lower rates – Older drivers are proven to be safer behind the wheel, tend to file fewer claims, and get fewer tickets. Drivers with little experience are statistically proven to be inattentive when behind the wheel so they pay higher insurance rates.
Never let your coverage expire – Having a lapse in insurance coverage can be a sure-fire way to increase your insurance rates. And not only will your rates increase, being ticketed for driving with no insurance could result in a fine, jail time, or a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with the Florida DMV.
Deductibles are a factor – Your deductibles state the amount of money you are willing to pay before your insurance pays a claim. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some examples of claims that would be covered would be collision with another vehicle, vandalism, and damage from wind. The higher the amount you pay before a claim is paid (deductible), the bigger discount you will receive.
Get married and pay less – Having a significant other may earn you lower rates when buying insurance. It generally demonstrates drivers are more financially stable and it’s proven that drivers who are married file infrequent claims.
Lower performance equals lower insurance prices – The make and model of the car you are trying to find cheaper insurance for makes a significant difference in your rates. The lowest performance passenger models generally have the cheapest insurance rates, but other factors influence the final cost greatly.
Gender and auto insurance costs – Over time, data shows that men are more aggressive behind the wheel. The data does not necessarily mean that men are worse drivers. They both get in fender benders in similar numbers, but men get into accidents with more damage. They also receive more major tickets such as DWI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and therefore pay the highest rates.
Insurance losses for a Volvo S60 – Car insurance companies use past insurance losses as a tool for profitable underwriting. Vehicles that statistically have higher frequency or amount of claims will have a higher premium rate.
The next table shows the actual insurance loss data for Volvo S60 vehicles. For each coverage type, the loss probability for all vehicles, as an average, is represented as 100. Numbers under 100 suggest losses that are better than average, while values that are above 100 indicate frequent claims or an increased chance of larger losses than average.
|Specific Volvo Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo S60 4dr 2WD||103||85||83||76||72||65|
|Volvo S60 4dr 4WD||111||73||90||65||66|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Compare. Compare. Compare.
Throughout this article, we presented many tips how you can lower your Volvo S60 insurance premium rates in Tampa. It’s most important to understand that the more providers you compare, the higher the chance of saving money. You may even be surprised to find that the lowest premium rates are with a small local company. Regional companies may have significantly lower prices on certain market segments compared to the large companies like Allstate and Progressive.
Some insurance companies do not offer price quotes online and these small insurance companies sell through independent agents. Lower-priced Volvo S60 insurance in Tampa can be purchased from both online companies and also from your neighborhood Tampa agents, so you should compare both to have the best rate selection.
Much more information about insurance in Florida can be found on the following sites:
- Medical Payments Coverage (Liberty Mutual)
- How Much is Auto Insurance for 4×4 Vehicles in Tampa? (FAQ)
- How Much are Tampa Auto Insurance Rates for Business Use? (FAQ)
- Who Has Cheap Auto Insurance Rates for Hybrid Vehicles in Tampa? (FAQ)
- What Insurance is Cheapest for High Mileage Drivers in Tampa? (FAQ)
- Event Data Recorders FAQ (iihs.org)
- Protecting Teens from Drunk Driving (Insurance Information Institute)