Everyone knows that insurance companies don’t want policyholders to compare prices from other companies. People who shop around for cheaper price quotes are highly likely to buy a different policy because of the high probability of finding a lower-priced company. Surprisingly, a recent survey revealed that people who shopped around saved $3,500 over four years as compared to drivers who don’t regularly compare prices.
If finding the lowest price on Volvo S80 insurance in Aurora is your ultimate goal, then learning a little about how to quote prices and compare insurance rates can help make the process easier and more efficient.
It takes a little time, but the best way to get more affordable car insurance rates is to start comparing prices regularly from providers that insure vehicles in Aurora.
- It will benefit you to learn about how insurance works and the changes you can make to lower rates. Many rating factors that result in higher rates such as high-risk driving behaviors and a bad credit score can be rectified by paying attention to minor details.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO or State Farm, while agents who are independent can provide prices from multiple sources.
- Compare the quotes to your current policy premium to see if switching to a new carrier will save money. If you can save some money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
A good tip to remember is that you use identical deductibles and limits on every price quote and to quote with as many different insurance providers as possible. Doing this guarantees a fair rate comparison and a thorough price selection.
Most of the larger companies like Allstate, GEICO and Progressive provide coverage prices directly from their websites. The process is fairly simple as you just type in your personal and coverage information into the form. Once you submit the form, the quote system will obtain your driving record and credit report and gives you a price quote determined by many factors. This makes it simple to compare prices and it is important to get many rate quotes if you want to get the cheapest price possible.
To compare pricing, compare quotes from the companies shown below. If you currently have coverage, we recommend you copy the coverage information just like they are on your policy. Using the same limits helps guarantee you will receive a rate comparison based on similar coverages.
The companies in the list below have been selected to offer free rate quotes in Aurora, CO. If multiple companies are listed, we suggest you compare several of them in order to get a fair rate comparison.
Auto insurance data for a Volvo S80
The coverage table below outlines a range of policy rates for Volvo S80 models. Learning a little about how prices are established is important for making smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S80 T6 AWD||$294||$608||$396||$24||$118||$1,440||$120|
|S80 Executive AWD||$294||$688||$396||$24||$118||$1,520||$127|
|S80 V8 AWD||$324||$688||$396||$24||$118||$1,550||$129|
|Get Your Own Custom Quote Go|
Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Premium costs do not factor in vehicle garaging location which can raise or lower coverage rates considerably.
The chart below shows how different deductible levels and can change Volvo S80 premium costs for different categories of driver ages. The data assumes a single male driver, full coverage, and no additional discounts are factored in.
Rate comparison of males versus females
The illustration below compares Volvo S80 insurance costs for male and female drivers. The premiums are based on no violations or accidents, full coverage, $250 deductibles, drivers are not married, and no other discounts are factored in.
Full coverage versus liability only rates
The diagram below compares Volvo S80 insurance rates with full physical damage coverage compared to only buying liability only. The costs are based on no accidents or driving violations, $100 deductibles, marital status is single, and no other discounts are factored in.
Deciding between full coverage and liability only
There is no definitive formula of when to eliminate full coverage, but there is a broad guideline. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let’s assume your Volvo S80 book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If you are paying more than $700 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where removing full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Why you need quality insurance for your vehicle
Despite the high insurance cost for a Volvo S80 in Aurora, buying auto insurance is most likely required but also gives you several important benefits.
First, the majority of states have minimum mandated liability insurance limits which means the state requires a specific level of liability insurance coverage if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you bought your Volvo S80 with a loan, it’s guaranteed your bank will make it mandatory that you carry insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender may have to buy a policy to insure your Volvo at an extremely high rate and force you to pay for the expensive policy.
Third, insurance safeguards not only your Volvo but also your financial assets. Insurance will also pay for most medical and hospital costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers legal expenses if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of having auto insurance definitely exceed the price paid, particularly for liability claims. Today the average American driver is currently overpaying as much as $820 a year so you should quote rates every year to ensure rates are inline.
Smart Buyers Know How to Find Insurance for Less
The best way to find cheaper insurance is to take a look at some of the elements that help determine your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in lower rates.
How credit rating affects insurance premiums – Having a bad credit rating can be an important factor in determining your rates. Insureds that have good credit tend to be more responsible than drivers who have poor credit. If your credit rating is not that good, you could save money insuring your Volvo S80 by improving your credit score.
Annual miles is a factor – Driving a lot of miles every year the higher your rate. Many insurance companies apply a rate based on how the vehicle is used. Vehicles that sit idle most of the time get more affordable rates than cars that get driven a lot. It’s always a good idea to double check that your declarations sheet is showing the right rating data, because improper ratings can cost you money. A policy that improperly rates your S80 may be costing you.
Single vs. married – Being married may cut your premiums on your insurance policy. Having a spouse translates into being less irresponsible and statistics show drivers who are married file infrequent claims.
With age comes responsibility – Teenage drivers in Colorado are statistically proven to be inattentive when driving with friends so they pay higher insurance rates. If you’ve ever had to add a beginning driver onto a policy can break the bank. Older insureds are proven to be safer behind the wheel, cause fewer claims and accidents, and usually have better credit.
The following chart assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Do you qualify for a multi-policy discount? – Most larger insurers will give a discount to customers that have more than one policy. It’s known as a multi-policy discount. The discount can add up to ten percent or more. Even if you qualify for this discount already, it’s always a smart idea to check prices from other companies to make sure you are getting the best deal.
Premiums go up with performance – The make and model of the car, truck or SUV you need to insure makes a big difference in determining your rates. Lower performance four cylinder passenger vehicles generally have the cheapest insurance rates, but there are many factors that impact the final cost.
The data below uses these variables: married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It shows Volvo S80 car insurance rates compared to other makes and models that have a range of performance risks.
Vehicles with better crash test results cost less to insure – Cars with five star safety ratings cost less to insure. Highly rated vehicles reduce the chance of injuries and lower injury rates translates into savings for insurance companies and cheaper rates on your policy. If the Volvo S80 earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
Loss probability for a Volvo S80 – Companies take into consideration historical loss data for every vehicle to help calculate a profitable premium rate. Vehicles that tend to have increased claim numbers or amounts will be charged more to insure. The data below shows the loss history for Volvo S80 vehicles.
For each coverage category, the statistical loss for all vehicles, as an average, is considered to be 100. Values that are 100 or less suggest a positive loss record, while values that are 100 or greater point to more frequent losses or tendency to have larger claims.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo S80 4dr 2WD||82|
|Volvo S80 4dr 4WD||93|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Get cheaper Volvo S80 insurance in Aurora with discounts
Auto insurance is easily one of your largest bills, but you may qualify for discounts to help offset the cost. Certain reductions will be credited at the time of quoting, but lesser-known reductions have to be manually applied before they will apply.
- Aurora Homeowners Discount – Owning a house in Aurora may trigger a policy discount on auto insurance because it is proof that your finances are in order.
- Life Insurance Discount – Larger auto insurance companies have a small discount if you purchase a life insurance policy as well.
- Defensive Driver Discounts – Successfully completing a course that instructs on driving safety could earn you a small percentage discount if you qualify.
- Payment Method – By paying your entire bill at once instead of monthly or quarterly installments you could save 5% or more.
- Discounts for Government Workers – Having worked for a branch of the government may reduce rates when you quote Aurora car insurance with select insurance companies.
Please keep in mind that some credits don’t apply to all coverage premiums. The majority will only reduce individual premiums such as medical payments or collision. Even though it may seem like all those discounts means the company will pay you, it’s just not the way it works.
The illustration below illustrates the comparison of Volvo S80 car insurance rates with and without discounts being applied to the rates. The costs are based on a male driver, no accidents, no driving violations, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, homeowner, marriage, multi-car, and safe-driver discounts applied.
Popular auto insurance companies and some of the premium reductions they offer include:
- GEICO has discounts for multi-policy, membership and employees, air bags, multi-vehicle, and good student.
- MetLife has savings for multi-policy, good driver, defensive driver, good student, accident-free, claim-free
- Progressive may offer discounts for online signing, online quote discount, good student, multi-policy, continuous coverage, and multi-vehicle.
- Travelers offers discounts for payment discounts, new car, multi-car, student away at school, hybrid/electric vehicle, good student, and save driver.
- SAFECO offers discounts including teen safe driver, homeowner, teen safety rewards, accident prevention training, drive less, and anti-theft.
- AAA may have discounts that include AAA membership discount, anti-theft, pay-in-full, multi-policy, and good student.
Check with every insurance company to apply every possible discount. Some discounts listed above may not apply to policyholders in your state.
Independent and exclusive auto insurance agents
Many drivers just prefer to have an agent’s advice. One of the best bonuses of getting online price quotes is the fact that you can find lower premium rates and also buy local.
To find an agent, once you fill out this quick form, the coverage information is immediately sent to local insurance agents that give free quotes and help you find cheaper coverage. You won’t need to visit any agencies because prices are sent instantly to you. You can most likely find cheaper rates and an insurance agent to talk to. In the event you want to compare prices from a particular provider, you can always search and find their rate quote page and complete a quote there.
Finding a good provider needs to be determined by more than just the quoted price. These are some questions your agent should answer.
- Will their companies depreciate repairs to your car based on the mileage?
- Can you get a list of referrals?
- Do they have 24-hour customer assistance?
- If your car is in the repair shop, do you have coverage for a rental car?
- How often do they review policy coverages?
- Are claim adjusters local or do you have to take your car somewhere else?
- What is their Better Business Bureau rating?
- In the event of vehicle damage, can you pick the collision repair facility?
If you want a reliable agent, you must know there are a couple different types of agents and how they can service your needs differently. Insurance agencies can be classified as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
Agents of this type can usually just insure with one company and some examples include Allstate, Farmers Insurance or State Farm. Exclusive agents are unable to shop your coverage around so they have no alternatives for high prices. Exclusive agents are well trained on what they offer which helps them compete with independent agents.
The following are Aurora exclusive agencies that are able to give comparison quotes.
Independent Agents (or Brokers)
Independent agents are not restricted to one company and that is an advantage because they can write policies through many companies and help determine which has the cheapest rates. To move your coverage to a new company, your policy is moved internally and the insured can keep the same agent.
If you are trying to find cheaper rates, you will definitely want to include rate quotes from at least one independent agent in order to have the best price comparison.
Shown below are Aurora independent agents who can help you get rate quotes.
A Complete Auto Insurance Agency
543 Sable Blvd – Aurora, CO 80011 – (303) 650-0060 – View Map
Focus Insurance Agency
2993 S Peoria St #144 – Aurora, CO 80014 – (303) 695-6220 – View Map
Affordable car insurance rates are out there
Some companies may not have internet price quotes and most of the time these regional carriers only sell coverage through independent agencies. Lower-priced Volvo S80 insurance in Aurora is attainable on the web and from local agencies, so you need to compare both to have the best chance of lowering rates.
We just covered some good ideas how to lower your Volvo S80 insurance prices in Aurora. The key concept to understand is the more quotes you get, the higher the chance of saving money. You may even discover the best prices are with a small local company. Regional companies may have significantly lower rates on certain market segments compared to the large companies like Allstate or State Farm.
Even more information can be read by following these links:
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Who Has Affordable Aurora Auto Insurance for a Ford F-150? (FAQ)
- What Insurance is Cheapest for a Jeep Grand Cherokee in Aurora? (FAQ)
- Five Mistakes to Avoid (Insurance Information Institute)
- Child Safety FAQ (iihs.org)
- Think You’re a Safe Driver? (State Farm)