How long has it been since you compared quotes for more competitive Volvo XC60 insurance in Memphis? No one looks forward to paying premiums for insurance, particularly when the cost is way too high.
It’s easy to assume that insurance companies want to keep you from comparing prices. People who get comparison quotes at least once a year are likely to move their business because the odds are good of finding a lower-cost company. A recent insurance study revealed that people who regularly shopped around saved $865 annually compared to people who never shopped around.
If finding budget-friendly Volvo XC60 insurance is why you’re here, then understanding the best way to quote and compare coverage rates can help make the process easier and more efficient.
Steps to saving on Volvo XC60 insurance in Memphis
Truthfully, the best way to save money on car insurance rates is to compare prices once a year from providers that sell auto insurance in Memphis.
First, it will benefit you to learn about how auto insurance works and the measures you can take to drop your rates. Many factors that increase rates such as traffic tickets, fender benders, and a less-than-favorable credit score can be controlled by making minor changes in your lifestyle.
Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from one company like Progressive or Allstate, while agents who are independent can provide rate quotes for a wide range of insurance providers.
Third, compare the new rate quotes to the premium of your current policy to determine if switching companies saves money. If you find a lower rate quote, make sure there is no lapse in coverage.
Fourth, provide written notification to your current company to cancel your current car insurance policy and submit the signed application along with the required initial payment for your new coverage. As soon as you can, place the new certificate verifying coverage in an easily accessible location.
One piece of advice is to use the same level of coverage on each quote request and and to get prices from every insurance company. This helps ensure an apples-to-apples comparison and the best price quote selection.
There is such a variety of auto insurance companies to choose from, and though it is a good thing to be able to choose, it makes it harder to locate the cheapest rates for Volvo XC60 insurance in Memphis.
Most major insurance companies such as State Farm, GEICO and Progressive allow you to get prices for coverage on the web. Getting online rates for Volvo XC60 insurance in Memphis is quite easy because it’s just a matter of typing in the coverages you want into the quote form. When complete, the quote system obtains your driving record and credit report and provides a quote. Quoting online for Volvo XC60 insurance in Memphis streamlines rate comparisons, and it is important to perform this step in order to get a better rate.
To compare rates now, check out the auto insurance providers below. If you have your current policy handy, we recommend you replicate the coverage information as shown on your current policy. This way, you will get an apples-to-apples comparison using the same coverage and limits.
The providers in the list below are ready to provide price comparisons in Tennessee. If your goal is to find the best cheap auto insurance in Memphis, TN, we recommend you visit two to three different companies in order to get a fair rate comparison.
Companies offer many types of discounts on Volvo XC60 insurance in Memphis
Some insurers do not list the complete list of policy discounts very clearly, so we took the time to find some of the best known and also the more inconspicuous ways to save on car insurance.
- Life Insurance Discount – Not all car insurance companies offer life insurance, but some may give you lower prices if you buy a life insurance policy as well.
- Distant Student – College-age children living away from Memphis attending college and won’t have access to an insured vehicle can receive lower rates.
- Discount for Swiching Early – A few companies give discounts for buying a policy prior to your current XC60 insurance policy expiring. It can save you around 10%.
- Discounts for New Vehicles – Buying a new car instead of a used XC60 may earn a small discount because newer vehicles keep occupants safer.
- Sign Online – A handful of companies will give you a small discount shop Memphis auto insurance on the internet.
- Pay Upfront and Save – If you pay your bill all at once instead of monthly or quarterly installments you may have a lower total premium amount.
- Multiple Vehicles – Buying a policy with primary and secondary vehicles on the same car insurance policy can get a discount for every vehicle.
You can save money using discounts, but most discount credits are not given to your bottom line cost. Most only reduce specific coverage prices like comp or med pay. So when the math indicates having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.
The chart below shows the difference between Volvo XC60 insurance premiums with and without discounts applied. The rates are based on a male driver, no violations or claims, Tennessee state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, safe-driver, marriage, and multi-policy discounts applied.
To choose car insurance companies that offer discounts in Memphis, follow this link.
Volvo XC60 insurance statistics and information
The premium information shown below showcases detailed analysis of coverage costs for Volvo XC60 models. Being able to understand how insurance quotes are figured can assist in making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $204 | $346 | $252 | $14 | $76 | $892 | $74 |
| XC60 3.2 AWD | $230 | $346 | $252 | $14 | $76 | $918 | $77 |
| XC60 T6 AWD AWD | $230 | $408 | $252 | $14 | $76 | $980 | $82 |
| XC60 T6-R AWD AWD | $256 | $408 | $252 | $14 | $76 | $1,006 | $84 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Information does not factor in the specific area where the vehicle is garaged which can increase or decrease premiums substantially.
Physical damage deductible comparison
When shopping for car insurance, a common question is which comprehensive and collision deductibles to buy. The figures shown below summarize the rate fluctuation when you select higher and lower deductibles. The first pricing table uses a $100 deductible for physical damage and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $248 | $448 | $246 | $14 | $74 | $1,055 | $88 |
| XC60 3.2 AWD | $280 | $448 | $246 | $14 | $74 | $1,087 | $91 |
| XC60 T6 AWD AWD | $280 | $528 | $246 | $14 | $74 | $1,167 | $97 |
| XC60 T6-R AWD AWD | $312 | $528 | $246 | $14 | $74 | $1,199 | $100 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $182 | $304 | $246 | $14 | $74 | $820 | $68 |
| XC60 3.2 AWD | $204 | $304 | $246 | $14 | $74 | $842 | $70 |
| XC60 T6 AWD AWD | $204 | $358 | $246 | $14 | $74 | $896 | $75 |
| XC60 T6-R AWD AWD | $228 | $358 | $246 | $14 | $74 | $920 | $77 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Premium amounts do not factor in garaging location in Memphis which can affect prices substantially.
Based on the data above, we can derive that using a $100 deductible costs an average of $21 more each month or $252 for a full year averaged for all XC60 models than choosing the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at a minimum 19 months between claims, you would probably be better off by going with a higher deductible.
Car insurance rates are higher with tickets and accidents
The information below demonstrates how speeding tickets and at-fault collisions impact Volvo XC60 yearly insurance costs for different categories of driver ages. The data assumes a single male driver, full coverage, $250 deductibles, and no additional discounts are factored in.
Volvo XC60 full coverage rates compared to liability only
The illustration below compares Volvo XC60 premium costs with full coverage and liability only. The premiums are based on no claims or driving citations, $500 deductibles, single status, and no discounts are applied.
When to drop comprehensive and collision
There is no definitive rule for excluding comp and collision coverage, but there is a general guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let’s say your Volvo XC60 claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after paying your policy deductible. If you are paying more than $600 a year to have full coverage, then you might want to consider buying only liability coverage.
There are some cases where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Insurance agent or online?
Many drivers just want to talk to an insurance agent and that is not a bad decision One of the great benefits of price shopping on the web is you may find cheaper prices and still have a local agent.
Once you complete this simple form, your information is instantly submitted to insurance agents in Memphis that can give you free Memphis auto insurance quotes for your business. There is no need to visit any agencies due to the fact that quote results will go directly to you. You can most likely find cheaper rates and an insurance agent to talk to. If you wish to quote rates from a particular provider, you just need to search and find their rate quote page and submit a quote form there.
Picking an company requires more thought than just a cheap price quote. Some important questions to ask are:
- Do they reduce claim amounts on high mileage vehicles?
- How often do they review policy coverages?
- Do the companies they represent have a solid financial rating?
- How long has their agency been in business in Memphis?
- Which family members are covered?
- Do you qualify for any additional discounts?
- What is their Better Business Bureau rating?
If you want to use an insurance agent, it’s helpful to know the types of agencies and how they can quote your rates. Auto insurance agencies can be classified as either exclusive or independent.
Exclusive Insurance Agents
Agents that choose to be exclusive can only provide pricing for a single company such as State Farm, Allstate, or Farmers Insurance. These agents are unable to compare rates from other companies so it’s a take it or leave it situation. Exclusive agencies are well schooled on the products they sell and that can be a competitive advantage.
The following are Memphis exclusive agents that can give you price quote information.
Allstate Insurance: Don Rogers
5812 Winchester Rd – Memphis, TN 38115 – (901) 794-3771 – View Map
Zach Jaworski – State Farm Insurance Agent
6060 Primacy Pkwy #221 – Memphis, TN 38119 – (901) 794-3691 – View Map
Arther Wells – State Farm Insurance Agent
4205 Hacks Cross Rd #116 – Memphis, TN 38125 – (901) 363-9217 – View Map
Independent Auto Insurance Agencies
Independent insurance agents do not write with just one company so they have the ability to put coverage with a variety of different insurance companies and get you the best rates possible. If they find a lower price, they simply switch companies in-house which requires no work on your part.
When comparing rate quotes, you will want to get insurance quotes from multiple independent agents to have the best price comparison.
The following is a list of independent insurance agents in Memphis who can help you get price quote information.
Nationwide Insurance: The James Agency LLC
4778 Summer Ave Ste 1 – Memphis, TN 38122 – (901) 266-5507 – View Map
Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map
Oseman Insurance Agency
6750 Poplar Ave #410 – Memphis, TN 38138 – (901) 562-0151 – View Map
Insurance Rate Influencing Factors
It’s important that you understand some of the things that come into play when calculating insurance rates. When you understand what controls the rates you pay, this allows you to make good choices that could help you find lower rates. Many factors are part of the calculation when quoting car insurance. Most are fairly basic such as your driving history, although others are not as apparent like your vehicle usage or your financial responsibility.
A car insurance policy lapse is a bad thing – Having an insurance coverage lapse is a quick way to pay more for insurance. And not only will insurance be more expensive, getting caught without coverage can result in a fine, jail time, or a revoked license.
What are your physical damage deductibles? – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your vehicle. Examples of covered claims would be collision with another vehicle, damage from fire, and windstorm damage. Physical damage deductibles tell how much you are required to spend if a covered claim is submitted. The higher the amount you have to pay, the less money you will pay for insurance.
Liability protection limits on your policy – Your policy’s liability coverage is the protection in the event that you are ruled to be at fault for damages caused by your negligence. Liability provides you with a defense in court to attempt to prove you were not liable. This coverage is relatively inexpensive compared to comp and collision, so drivers should carry high limits.
Single drivers take more risk – Being married may save some money on your insurance bill. Having a significant other means you’re more mature and it’s statistically proven that married drivers tend to file fewer claims.
High performance equals high premiums – The type of vehicle you are buying insurance for makes a substantial difference in your auto insurance rates. The lowest rates are usually found on small economy passenger cars, but your final cost has many other factors.
The following data uses these assumptions: married male driver age 30, full coverage with $100 deductibles, and no discounts or violations. It illustrates Volvo XC60 policy rates compared to other makes and models that have a range of performance risks.
Frequent insurance claims will cost more – If you’re an insured who likes to file claims you can expect higher rates. Companies in Tennessee give better rates to policyholders who only file infrequent claims. Your insurance policy is designed for major claims that would cause financial hardship.
Discounts for multiple policies – Many insurance companies apply a discount to clients who carry more than one policy. It’s known as a multi-policy discount. If you currently are using one company, you still need to compare Volvo XC60 rates in Memphis to make sure you are getting the best deal. Drivers may still save even more even if you insure with multiple companies
Claims statistics for a Volvo XC60 – Insurance companies factor in insurance loss information when setting premium costs. Models that statistically have increased claim numbers or amounts will cost more for specific coverages.
The data below shows the historical loss data for Volvo XC60 vehicles. For each policy coverage, the claim probability for all vehicles, as an average, equals 100. Values that are 100 or less imply a favorable loss record, while numbers above 100 indicate higher probability of having a loss or an increased chance of a larger loss.
| Specific Volvo Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Volvo XC60 4dr 2WD | 79 | 74 | 70 | 60 | 53 | 55 |
| Volvo XC60 4dr 4WD | 93 | 82 | 75 | 66 | 64 | 57 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance does more than just repair your car
Even though it can be expensive, auto insurance is required in Tennessee but it also protects you in many ways.
- Almost all states have mandatory liability insurance requirements which means you are required to buy a specific level of liability insurance in order to drive the car legally. In Tennessee 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.
- If you have a loan on your XC60, more than likely the lender will require you to have full coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank will be required to insure your Volvo for a lot more money and require you to reimburse them the higher price.
- Insurance safeguards both your vehicle and your assets. It also can pay for medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay attorney fees in the event you are sued. If your car is damaged in a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your car more than offset the price you pay, particularly if you ever have a claim. The average driver in America is overpaying more than $830 a year so shop around every year to ensure rates are inline.
Be persistent to save money
When shopping online for insurance, it’s a bad idea to skimp on coverage in order to save money. There have been many cases where an insured cut comprehensive coverage or liability limits and learned later they didn’t purchase enough coverage. The aim is to buy the best coverage you can find at an affordable rate but still have enough coverage for asset protection.
Cost effective Volvo XC60 insurance can be bought on the web in addition to many Memphis insurance agents, so get free Memphis auto insurance quotes from both of them in order to have the best price selection to choose from. A few companies may not have internet price quotes and usually these small insurance companies work with local independent agencies.
How to find affordable Volvo XC60 insurance in Memphis
The easiest way to save money on Volvo XC60 insurance is to start comparing prices yearly from providers that insure vehicles in Memphis.
- Step 1: Spend a few minutes and learn about policy coverages and the factors you can control to keep rates in check. Many policy risk factors that cause high rates such as traffic citations and an unfavorable credit rating can be eliminated by making small lifestyle or driving habit changes.
- Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or Farmers Insurance, while independent agencies can provide prices from many different companies.
- Step 3: Compare the new rate quotes to your existing rates to see if cheaper XC60 coverage is available. If you can save money, make sure coverage is continuous and does not lapse.
A good tip to remember is to make sure you’re comparing the same physical damage deductibles and liability limits on each quote and and to compare all possible companies. This helps ensure the most accurate price comparison and maximum price selection.
To learn more, take a look at the resources below:
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Who Has Affordable Memphis Auto Insurance for College Students? (FAQ)
- Who Has the Cheapest Memphis Car Insurance Quotes for Drivers Over Age 70? (FAQ)
- Who Has the Cheapest Memphis Auto Insurance for Safe Drivers? (FAQ)
- Who Has Cheap Auto Insurance Rates for Real Estate Agents in Memphis? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers with a DUI in Memphis? (FAQ)
- How Much are Memphis Auto Insurance Quotes for a Mazda CX-7? (FAQ)
- How Much is Memphis Auto Insurance for a Company Car? (FAQ)
- What Insurance is Cheapest for a Learners Permit in Memphis? (FAQ)
- How Much is Memphis Car Insurance for Hybrid Vehicles? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Eight Auto Insurance Myths (Insurance Information Institute)