It’s hard to believe, but almost 70% of drivers kept their policy with the same company for over three years, and just short of a majority have never compared car insurance rates at all. Durham consumers could cut their rates by almost 10% a year just by comparing rates, but most tend to underestimate how much they could save if they swap their current policy for a cheaper one.
Really, the only way to get low-cost Volvo XC70 insurance is to make a habit of regularly comparing prices from different companies in Durham. You can compare rates by completing these steps.
- First, try to comprehend the different coverages in a policy and the measures you can control to keep rates low. Many risk factors that are responsible for high rates like at-fault accidents, speeding tickets, and an unacceptable credit rating can be rectified by being financially responsible and driving safely. This article provides ideas to help reduce prices and earn a bigger discount.
- Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Third, compare the new rate quotes to your existing rates and see if you can save money. If you can save money and make a switch, make sure coverage does not lapse between policies.
- Fourth, notify your agent or company of your decision to cancel your current auto insurance policy and submit a down payment along with a completed application to your new insurance company. As soon as you have the new policy, put the new certificate verifying coverage in your vehicle’s glove compartment or console.
An important note is to make sure you enter similar limits and deductibles on each quote request and and to analyze all possible companies. This enables a fair rate comparison and a complete rate analysis.
Quoting and comparing rates for affordable coverage in Durham is simple if you know the tricks. If you’re already insured or just want cheaper coverage, follow these tips to lower your rates and still get good coverage. Drivers just need to know the most time-saving way to shop for car insurance online.
Where can I get low cost Durham Volvo XC70 insurance?
The companies in the list below are our best choices to provide comparison quotes in Durham, NC. To find the cheapest auto insurance in North Carolina, we suggest you visit as many as you can to find the most affordable auto insurance rates.
Do you qualify for discounts?
Some providers don’t always advertise all possible discounts very clearly, so the list below details some of the best known and also the more inconspicuous credits that you can use to lower your rates.
- Seat Belt Usage – Using a seat belt and requiring all passengers to fasten their seat belts could save 15% off the PIP or medical payment premium.
- Accident Forgiveness Coverage – This one isn’t a discount, but companies like Liberty Mutual, Allstate and State Farm will forgive one accident without raising rates with the catch being you have to be claim-free prior to being involved in the accident.
- Distant Student – Youth drivers who are attending college and do not take a car to college may qualify for this discount.
- Service Members Pay Less – Having a family member in the military could trigger a small discount.
- Anti-theft System – Cars, trucks, and SUVs with anti-theft systems prevent vehicle theft and will qualify for a discount on a Durham auto insurance quote.
- Discount for New Cars – Putting coverage on a new XC70 can save you some money because newer models are generally safer.
- Accident-Free Discounts – Drivers who don’t have accidents can earn big discounts when compared to accident-prone drivers.
- Driver Training Discounts – Participating in a defensive driver course could possibly earn you a 5% discount and also improve your driving technique.
It’s important to note that most of the big mark downs will not be given to the overall cost of the policy. A few only apply to individual premiums such as comp or med pay. So even though it sounds like having all the discounts means you get insurance for free, companies don’t profit that way.
The information below shows the comparison of Volvo XC70 insurance prices with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, safe-driver, claim-free, multi-car, and multi-policy discounts applied.
If you would like to see a list of companies who offer cheap Volvo XC70 insurance quotes in Durham in Durham, follow this link.
Rates and information analytics
The rate information below outlines detailed analysis of insurance premium costs for Volvo XC70 models. Knowing how insurance policy rates are formulated can benefit drivers when making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC70 3.2 AWD Station Wagon||$192||$354||$340||$20||$102||$1,008||$84|
|XC70 T6 AWD 4-Dr||$192||$408||$340||$20||$102||$1,062||$89|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price information does not factor in specific location information which can influence insurance rates significantly.
The illustration below shows how choosing a deductible and can impact Volvo XC70 premium costs for different categories of driver ages. Data assumes a single female driver, full physical damage coverage, and no discounts are factored in.
Full coverage rates compared to liability-only
The example below shows the comparison of Volvo XC70 auto insurance costs with full physical damage coverage compared to only buying liability only. The data assumes no accidents or driving violations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
When to drop full coverage
There is no written rule of when to exclude comp and collision coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s pretend your Volvo XC70 settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after you pay the deductible. If you are paying in excess of $700 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some circumstances where only buying liability is not advised. If you haven’t satisfied your loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.
How to Lower Your Insurance Premiums
Many factors are used in the calculation when you get your auto insurance bill. Most are fairly basic like your driving record, although some other factors are less apparent such as your marital status or how financially stable you are.
Only buy coverage you need – There are a ton of extra coverages that can add up if you aren’t diligent. Coverages like coverage for rental cars, death and dismemberment, and additional equipment coverage are some examples. These may sound like a good investment when you first buy your policy, but if you don’t need them remove them from your policy.
Avoid car insurance lapses – Allowing your car insurance policy to lapse can be a fast way to increase your rates. In addition to paying higher premiums, failure to provide proof of insurance will get you a hefty fine and possibly a revoked license. You may have to prove you have insurance by filing a SR-22 with the North Carolina motor vehicle department.
Multi-policy discounts can save money – Many insurers apply discounts to customers that have more than one policy such as combining an auto and homeowners policy. The discount can be as much as ten percent or more Even though this discount sounds good, it’s still a good idea to shop around to help guarantee you have the best rates. It’s possible to still save even more than the discount by buying car insurance from a different company.
Your car’s features help determine rates – Selecting a car model with advanced anti-theft systems can get you a discount on your car insurance. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft and help lower rates.
Insurance rates in urban areas – Being located in smaller towns and rural areas of the country can be a good thing when insuring your vehicles. Fewer drivers translates into fewer accidents in addition to fewer liability claims. People who live in big cities regularly have more road rage incidents and longer commute times. Spending more time driving statistically corresponds to a higher accident and claim rate.
Stay claim-free and reduce rates – If you’re an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Insurance companies in North Carolina provide discounts to policyholders that do not abuse their auto insurance. Your car insurance is intended to be relied upon for claims that pose a financial burden.
Type of car determines base prices – The performance level of the car you need to insure makes a huge difference in how high your rates are. The lowest base rates are generally reserved for economy passenger cars, but other factors influence the final cost greatly.
The following data uses these assumptions: married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. The chart compares Volvo XC70 insurance premiums compared to other models of vehicles that have a range of performance rating factors.
Limits of liability coverage – The liability coverage on your policy will protect you if you are responsible for damages from an accident. Liability provides you with a defense in court to attempt to prove you were not liable. This coverage is very inexpensive when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.
Insurance losses for a Volvo XC70 – Auto insurance companies take into consideration insurance loss statistics for every vehicle when they file their rates in each state. Vehicles that tend to have higher loss trends will be charged more to insure. The information below illustrates the insurance loss data used by companies for Volvo XC70 vehicles.
For each coverage category, the claim probability for all vehicles averaged together is considered to be 100. Values that are 100 or less indicate a favorable loss history, while numbers shown that are more than 100 point to more frequent losses or larger claims.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo XC70 Station Wagon 2WD||69|
|Volvo XC70 Station Wagon 4WD||79||70||94||45|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years