Save Money on Volvo V50 Insurance in Memphis

Are you tired of overpaying and want low-cost Volvo V50 insurance in Memphis? Have you finally had enough of scraping the payment together to make your car insurance payment? You are in the same boat as many other drivers in Tennessee.

Sad but true, the vast majority of Tennessee car insurance customers kept buying from the same company for at least the last four years, and roughly 40% of drivers have never shopped around. Most drivers in the U.S. could save $850 a year by just comparing quotes, but they don’t understand how simple it is to shop their coverage around. Many auto insurance companies compete for your insurance dollar, and because of this it can be hard to compare insurers to get the lowest price on Volvo V50 insurance in Memphis.

If you have a policy now or just want cheaper coverage, use these money-saving tips to find the best rates without reducing coverage. Finding the cheapest insurance coverage in Memphis is not that difficult. Drivers only have to learn the most efficient way to buy insurance from many companies at once.

Low Cost auto insurance in Memphis, TN

The following companies have been selected to offer price comparisons in Tennessee. To locate cheaper auto insurance in Tennessee, we recommend you get prices from several of them to get the most competitive price.

Volvo V50 insurance statistics and information

The premium table displayed next covers detailed analysis of coverage prices for Volvo V50 models. Having a good grasp of how car insurance prices are calculated can help you make smart choices when comparing insurance quotes.

Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Prices do not factor in garaging location in Memphis which can revise coverage prices significantly.

Analysis of deductible levels

One of the more difficult decisions when buying insurance is how high should the physical damage coverage deductibles be. The comparisons below determine the differences in price of buying low and high policy deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second set of prices uses a $1,000 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in vehicle garaging location which can revise coverage prices greatly.

Based on these figures, using a $250 deductible costs about $25 more each month or $300 each year across all Volvo V50 models than requesting the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you usually have more than 30 months between claims, you would save more money by selecting a higher deductible.

The illustration below demonstrates how choosing different deductibles and can affect Volvo V50 annual premium costs for each age group. The data assumes a married female driver, comp and collision included, and no other discounts are factored in.

Men versus women drivers and insurance cost

The information below compares Volvo V50 insurance prices for male and female drivers. The price estimates are based on no claims or violations, comp and collision included, $100 deductibles, single marital status, and no discounts are factored in.

Price comparison of only insuring for liability

The diagram below illustrates the difference between Volvo V50 insurance prices with and without full coverage. The prices are based on no claims or violations, $100 deductibles, single status, and no discounts are applied.

When to drop comprehensive and collision

There is no clear-cut rule of when to eliminate physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Volvo V50 book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after paying your policy deductible. If you are paying in excess of $700 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are some conditions where removing full coverage is not financially feasible. If you still owe money on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

Get Cheaper Insurance with These Tips

Part of the insurance buying process is learning a few of the rating criteria that aid in calculating insurance rates. If you know what controls the rates you pay, this empowers consumers to make smart changes that can earn you much lower annual insurance costs. Many factors are used in the calculation when you quote your car insurance policy. Some of the criteria are obvious like your driving record, although others are more obscure such as your credit history or your vehicle rating.

Listed below are a partial list of the pieces insurance companies consider when setting prices.

Lower stress equals lower prices – Do you have a high-stress occupation? Occupational choices like lawyers, architects, and dentists generally pay higher rates than average due to intense work-related stress and long work days. On the other hand, careers such as scientists, athletes and the unemployed pay the least.

Premiums go up with performance – The performance of the car, truck or SUV you need insurance for makes a substantial difference in determining your rates. Economy passenger cars usually have the lowest premiums, but other factors influence the final cost greatly.

The next chart uses these assumptions: single male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It compares Volvo V50 insurance rates compared to other models that have different performance rating factors.

Expect high rates for teens – Older people are more cautious drivers, tend to file fewer claims, and get fewer tickets. Young drivers are known to be more careless with other occupants in the car therefore insurance rates are much higher.

The next chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Better credit means lower rates – Having a bad credit score is a large factor in determining your rates. If your credit score is lower than you’d like, you could save money insuring your Volvo V50 by improving your credit score. People that have excellent credit tend to file fewer claims than drivers with bad credit.

Driving citations can increase costs – Having just one speeding ticket or other violation can bump up the cost by as much as twenty percent. Good drivers receive lower rates than their less careful counterparts. Drivers who have gotten serious citations like reckless driving, hit and run or driving under the influence may need to prove financial responsibility with their state DMV in order to legally drive.

The diagram below shows how traffic citations and at-fault claims can influence Volvo V50 premium costs for different age categories. The price estimates are based on a married female driver, comp and collision included, $250 deductibles, and no discounts are applied.

Defend yourself with liability – Liability coverage provides coverage when a court rules you are at fault for physical damage or personal injury to other. This coverage provides for a legal defense which can be incredibly expensive. It is affordable coverage when compared with rates for comp and collision, so buy as much as you can afford.

Safer vehicles mean better insurance rates – Safer cars tend to have lower insurance rates. Safer cars have better occupant injury protection and lower rates of occupant injuries translates directly to fewer claims which can result in lower premiums.

Cheap Memphis car insurance rates with discounts

Some insurers don’t always list the entire discount list very clearly, so we researched a few of the more common as well as the least known car insurance savings.

• Discounts for Seat Belt Usage – Forcing all vehicle occupants to use a seat belt can save a little on the medical payments or PIP coverage costs.
• Full Payment Discount – By making one initial payment as opposed to paying monthly you could save up to 5%.
• Driver’s Education for Students – It’s a good idea to have your young drivers participate in a local driver’s education class in high school.
• Passenger Safety Discount – Options like air bags and/or automatic seat belt systems may earn rate discounts of more than 20%.
• Good Student Discount – Maintaining excellent grades could provide a savings of up to 20% or more. Many companies even apply the discount to college students until age 25.
• Cautious Driver Discount – Drivers who don’t get into accidents can save as much as half off their rates compared to accident prone drivers.
• Clubs and Organizations – Joining qualifying clubs or civic groups could earn you a nice discount when getting a Memphis auto insurance quote.

Don’t be shocked that some credits don’t apply to the whole policy. The majority will only reduce specific coverage prices like liability, collision or medical payments. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.

The diagram below shows the difference between Volvo V50 insurance rates with and without discounts applied. The information is based on a female driver, no claims or driving citations, Tennessee 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-car, safe-driver, claim-free, marriage, homeowner, and multi-policy discounts applied.

To choose insurance companies with significant discounts in Memphis, click here.

When to talk to an agent

A small number of people just want to go talk to an agent and that can be a smart move Good insurance agents are trained risk managers and help you file claims. An additional benefit of comparing rate quotes online is the fact that you can find cheap rate quotes and still have a local agent.

After filling out this quick form, the quote information is instantly submitted to insurance agents in Memphis who can give free rate quotes for your business. You don’t have to leave your house as quotes are delivered to your email. If you want to get a price quote from a specific company, you can always navigate to their website and complete a quote there.

Choosing the best provider is decision based upon more than just a cheap quote. A good agent in Memphis will have answers to these questions.

• Does the agency support the community they serve?
• If independent agents, which companies do they recommend?
• Do they have a Better Business Bureau rating in Memphis?
• Are they properly licensed to sell insurance in Tennessee?
• Will one accident increase rates?
• Are they giving you every discount you deserve?
• How often do they review coverages?

Exclusive and independent Memphis car insurance agents

If you are wanting to purchase car insurance from a good insurance agency, it helps to know the two types of agencies and how they are distinctly different. Car insurance agents can either be independent or exclusive depending on the company they work for. Both properly insure your vehicles, but it’s a good idea to understand the difference in the companies they write for because it may have an impact on the type of agent you choose.

Exclusive Agencies

These agents generally can only insure with one company like State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide other company’s prices so they have no alternatives for high prices. Exclusive agents receive extensive training on their company’s products which helps them compete with independent agents.

Shown below are Memphis exclusive insurance agents that can give you price quote information.

More insurance agents

Independent Agents

Independent insurance agents can quote rates with many companies so they can quote policies with multiple insurance companies and potentially find a lower price. If they find a lower price, an independent agent can move your coverage and you don’t have to find a new agent.

If you need cheaper car insurance rates, you will definitely want to get quotes from at least one independent agent so that you have a good selection of quotes to compare.

The following are Memphis independent insurance agents that are able to give price quotes.

More insurance agents

Best auto insurance in Memphis

Selecting a good quality car insurance provider can be challenging considering how many different insurance companies sell coverage in Tennessee. The company information below could help you analyze which car insurance companies to look at comparing price quotes from.

Top 10 Memphis Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Erie Insurance – A+
6. Titan Insurance – A+
7. Esurance – A+
8. Progressive – A+
9. Nationwide – A+
10. The Hartford – A+

Do I just need basic coverages?

When quoting and comparing insurance from an agent or online, there really is not a one-size-fits-all type of policy. Every situation is different.

These are some specific questions may help you determine whether your personal situation will benefit from professional help.

• Are combined or split liability limits better?
• Should I rate my vehicle as business use?
• Why do I only qualify for high-risk insurance?
• When can my company non-renew my policy?
• Should I pay a claim out-of-pocket?
• What discounts do I qualify for?
• Does having multiple vehicles earn me a discount?
• What vehicles should carry emergency assistance coverage?
• What can I do if my company won’t pay a claim?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.

Cheaper auto insurance rates are out there

Affordable Volvo V50 insurance in Memphis is available from both online companies and from local insurance agents, so you should compare both in order to have the best chance of saving money. Some companies do not provide the ability to get a quote online and usually these smaller providers only sell coverage through independent insurance agencies.

When you buy Memphis auto insurance online, never buy less coverage just to save a little money. In too many instances, someone dropped liability limits or collision coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage at the best cost.

Consumers switch companies for many reasons like policy non-renewal, not issuing a premium refund, extreme rates for teen drivers or being labeled a high risk driver. Whatever your reason, switching auto insurance companies is less work than it seems.

Steps to finding discount Volvo V50 insurance in Memphis

It takes a few minutes, but the best way to get more affordable car insurance rates in Memphis is to start doing an annual price comparison from insurers who sell insurance in Tennessee.

First, get an understanding of coverages and the things you can change to prevent expensive coverage. Many things that result in higher prices like inattentive driving and a less-than-favorable credit score can be controlled by making lifestyle changes or driving safer.

Second, obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO or Farmers Insurance, while agents who are independent can give you price quotes from multiple insurance companies.

Third, compare the price quotes to your existing coverage to see if cheaper V50 coverage is available. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.

One key aspect when comparing rates is to make sure you enter the same deductibles and limits on each quote request and and to look at as many companies as possible. Doing this enables a level playing field and the best price selection.

More information can be found at the links below

• Airbag FAQ (iihs.org)
• How Much is Car Insurance for Veterans in Memphis? (FAQ)
• Who Has Affordable Car Insurance Quotes for a Toyota Highlander in Memphis? (FAQ)
• How Much is Memphis Auto Insurance for a 20 Year Old Female? (FAQ)
• Older Drivers FAQ (iihs.org)
• Young Drivers: The High Risk Years Video (iihs.org)
• Collision Insurance Coverage (Nationwide)