It’s an obvious conclusion that auto insurance companies don’t want you comparing rates. People who shop around for the cheapest price will presumably buy a new policy because there is a great chance of finding a policy with better rates. A recent survey revealed that people who regularly shopped around saved approximately $850 each year compared to drivers who never shopped for cheaper rates.
If saving money on car insurance is your ultimate target, then having some insight into how to find and compare insurance premiums can make it simple to find affordable coverage.
If saving the most money is your goal, then the best way to save money on Volvo V50 insurance is to start doing a yearly price comparison from companies who sell auto insurance in El Paso. You can compare prices by completing these steps.
- Spend a few minutes and learn about the different coverages in a policy and the measures you can take to prevent rate increases. Many rating factors that result in higher rates like traffic violations and a not-so-good credit score can be rectified by being financially responsible and driving safely. Continue reading for additional ideas to get affordable coverage and earn larger discounts.
- Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Allstate, while agents who are independent can quote prices from multiple companies.
- Compare the new rate quotes to the price on your current policy and see if you can save money. If you find better rates, make sure coverage is continuous and does not lapse.
- Give notification to your agent or company of your intent to cancel your existing policy and submit a completed policy application and payment for the new policy. As soon as coverage is bound, keep your new certificate verifying coverage with the vehicle registration.
One thing to point out is to try to use similar limits and deductibles on each quote request and and to get rate quotes from as many auto insurance providers as possible. This enables a fair rate comparison and a better comparison of the market.
Comparing quotes for the most affordable policy in El Paso is not as hard as you may think. In a nutshell, anyone who shops for insurance should find a better price. Nevertheless, Texas car owners must understand the methods companies use to determine what you pay and take advantage of how the system works.
Companies offering Volvo V50 insurance in El Paso
The companies shown below can provide comparison quotes in Texas. If several companies are displayed, it’s a good idea that you get rates from several of them to get the best price comparison.
Analysis of Volvo V50 rates
The coverage information shown below covers estimates of coverage costs for Volvo V50 models. Having knowledge of how insurance prices are calculated is important to be able to make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| V50 AWD T5 R-Design | $286 | $694 | $430 | $26 | $128 | $1,564 | $130 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price information does not factor in El Paso location which can alter rates substantially.
The illustration below demonstrates how deductible levels and can affect Volvo V50 insurance prices for each age group. The prices are based on a married female driver, comp and collision included, and no discounts are applied to the premium.
Comparison of car insurance rates by gender and age in El Paso
The example below shows the comparison of Volvo V50 car insurance rates for male and female drivers. The rates are based on no accidents, no driving violations, full physical damage coverage, $1,000 deductibles, single status, and no policy discounts are applied.
Volvo V50 liability rates compared to full coverage
The example below shows the comparison of Volvo V50 insurance premiums with full coverage and liability only. The data is based on no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no policy discounts are applied.
Should you buy full coverage or liability only?
There is no written rule to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more 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 say your Volvo V50 replacement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $4,000 after the deductible is paid. If it’s costing in excess of $400 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some circumstances where only buying liability is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Why Smart Buyers Pay Less for Volvo V50 Insurance
Part of the insurance buying process is learning the rating factors that help calculate your premiums. If you have a feel for what impacts premium levels, this helps enable you to make changes that can earn you big savings. Many different elements are part of the equation when quoting car insurance. Some factors are common sense like a motor vehicle report, but some are less obvious like your continuous coverage or how safe your car is.
Decrease premiums by maintaining coverage – Driving with no insurance is illegal and as a result your rates will increase for letting your insurance coverage expire. Not only will rates go up, the inability to provide proof of insurance can result in a steep fine or even jail time.
Lower stress equals lower premiums – Did you know your career choice can influence rates? Careers such as real estate brokers, executives, and medical professionals generally pay the highest rates in part from stressful work requirements and long work hours. On the flip side, occupations such as farmers, athletes and retirees pay the least.
Incidental coverages you don’t use – Insurance policies have a lot of add-on coverages you can purchase if you aren’t diligent. Coverages like replacement cost coverage, better glass coverage, and extra equipment coverage may be wasting your money. These coverages may sound good when talking to your agent, but if you’ve never needed them in the past consider taking them off your policy.
Marriage can save on insurance – Having a significant other can actually save you money compared to being single. Having a spouse generally demonstrates drivers are more responsible and it’s proven that married drivers tend to file fewer claims.
Know your credit score – Having a bad credit history can be a huge factor in determining what you pay. Consumers who have high credit ratings tend to file fewer claims than drivers with lower credit ratings. If your credit rating could use some work, you could save money insuring your Volvo V50 by taking the time to improve your credit score.
Get cheaper Volvo V50 insurance rates in El Paso
Insurance is not inexpensive, but you can get discounts to help offset the cost. Some discounts apply automatically at the time of purchase, but some discounts are required to be asked about before you will receive the discount.
- Passive Restraints and Air Bags – Factory air bags may earn rate discounts of more than 20%.
- Defensive Driver Discounts – Taking time to complete a driver safety course is a good idea and can lower rates and make you a better driver.
- Club Memberships – Affiliation with certain professional organizations can get you a small discount when getting a El Paso car insurance quote.
- Own a Home and Save – Owning your own home or condo can earn you a little savings due to the fact that maintaining a home is proof of financial responsibility.
- Driver’s Ed – Cut your cost by having your teen driver participate in a local driver’s education class in school.
- New Vehicle Savings – Buying a new car instead of a used V50 can save you some money since newer models have better safety ratings.
- Auto/Life Discount – Some insurance companies give better rates if you take out life insurance.
- Military Rewards – Having a deployed family member may qualify for rate reductions.
We need to note that most discount credits are not given to your bottom line cost. Most only cut the price of certain insurance coverages like comprehensive or collision. If you do the math and it seems like you could get a free insurance policy, you won’t be that lucky.
The illustration below shows the comparison of Volvo V50 car insurance rates with and without policy discounts. The premiums assume a female driver, no claims or driving citations, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, marriage, multi-policy, multi-car, and claim-free discounts applied.
Insurance companies that may offer these money-saving discounts include:
- GEICO
- Mercury Insurance
- Farmers Insurance
- Auto-Owners Insurance
- Liberty Mutual
- SAFECO
- Progressive
- USAA
It’s a good idea to ask all the companies which discounts you qualify for. Some discounts may not be offered everywhere.
Are insurance agencies of importance?
A lot of people still prefer to have an agent’s advice. A nice benefit of price shopping on the web is you may find cheap insurance quotes and still have a local agent. Buying from neighborhood insurance agencies is definitely important in El Paso.
By using this short form, your insurance coverage information is emailed to participating agents in El Paso who want to provide quotes for your business. You won’t even need to do any legwork since rate quotes are delivered straight to your inbox. It’s the lowest rates and a licensed agent to work with. If you want to get a price quote from a particular provider, you would need to find their quoting web page to submit a rate quote request.
When researching a reputable insurance agent or broker, you must know there are a couple types of insurance agents and how they operate. Insurance agents can be described as either independent (non-exclusive) or exclusive.
Independent Insurance Agencies
Independent agents are not restricted to one company so as a result can place your coverage through lots of different companies and possibly get better coverage at lower prices. If they quote lower rates, your policy is moved internally and that require little work on your part. When searching for an agent, we recommend you get some free quotes from a couple of independent agencies so that you have a good selection of quotes to compare. Many write coverage with small regional insurance companies which may provide better rates.
Listed below are El Paso independent insurance agencies that may be able to provide comparison quotes.
- Colonial Insurance Agency
7636 Gateway Blvd E – El Paso, TX 79915 – (915) 592-0999 – View Map - Nationwide Insurance: Ed Flores Insurance Agency Inc
1400 N Zaragoza Rd e – El Paso, TX 79936 – (915) 857-3300 – View Map - Sellers Insurance Agency
6356 Edgemere Blvd – El Paso, TX 79925 – (915) 778-5463 – View Map
Exclusive Agencies
Agents that choose to be exclusive are contracted to one company and examples are Allstate, Farmers Insurance or State Farm. They usually cannot provide prices from multiple companies so they have no alternatives for high prices. Exclusive agencies receive extensive training on what they offer which aids in selling service over price. Consumers sometimes buy insurance from these agents partially due to the prominence of the brand and solid financial strength.
Shown below is a list of exclusive agencies in El Paso that can give you comparison quotes.
- Tom Silverthorn – State Farm Insurance Agent
125 Thunderbird Dr a – El Paso, TX 79912 – (915) 581-3379 – View Map - Lou Lobato – State Farm Insurance Agent
1810 Trawood Dr l – El Paso, TX 79935 – (915) 598-5401 – View Map - Allstate Insurance: Zulema Valles
4301 Montana Ave b – El Paso, TX 79903 – (915) 562-5433 – View Map
Picking the best auto insurance agent is decision based upon more than just a cheap quote. These are valid questions to ask:
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Who are their largest clients?
- Do you need full coverage on every vehicle?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Can you choose the body shop in case repairs are needed?
- Do they review policy coverages at every renewal?
- Do they have 24-hour customer assistance?
Your situation helps dictate your coverage
When it comes to the right insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Your needs are unique to you.
These are some specific questions can aid in determining if your situation will benefit from professional help.
- Does coverage follow the driver or the vehicle?
- Are there any extra discounts I can get?
- How much underlying liability do I need for an umbrella policy?
- What can I do if my company denied a claim?
- Why do I need rental car insurance?
- Does my car insurance cover rental cars?
- Why do I only qualify for high-risk insurance?
- Can good grades get a discount?
- When should my teen driver be added to my policy?
If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to an agent. To find an agent in your area, simply complete this short form.
Get the best coverage at the lowest price
As you go through the steps to switch your coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There have been many cases where someone dropped liability coverage limits and found out when filing a claim that they should have had better coverage. Your objective should be to buy a smart amount of coverage for the lowest cost and still be able to protect your assets.
Insureds switch companies for any number of reasons including poor customer service, policy non-renewal, extreme rates for teen drivers or even questionable increases in premium. No matter why you want to switch, choosing a new insurance company is pretty easy and you might even save some money in the process.
Low-cost Volvo V50 insurance in El Paso is available both online in addition to many El Paso insurance agents, and you need to comparison shop both in order to have the best chance of saving money. A few companies do not offer the ability to get a quote online and most of the time these smaller providers sell through independent insurance agents.
To read more, link through to these articles:
- Neck Injury FAQ (iihs.org)
- Credit and Insurance Scores (Insurance Information Institute)
- What if I Can’t Find Coverage? (Insurance Information Institute)