Has it been a year or more since you last compared quotes for lower-priced Volvo S40 insurance in Columbus? Are you tired of not being able to scrape enough together to pay high car insurance rates every month? You're in the same situation as the majority of other consumers in Ohio.
Remarkably, a study showed that a large majority of car insurance policyholders have been with the same company for over three years, and 38% of customers have never compared rates to find cheaper insurance. With the average car insurance premium being $1,343, Columbus drivers could save an average of almost 55% each year, but they just don't understand the rate savings if they switched.
How to find low-cost rates for Volvo S40 insurance in Columbus
The best way we recommend to find more affordable Volvo S40 insurance in Columbus is to make a habit of regularly comparing prices from insurance carriers who sell auto insurance in Ohio.
- Gain an understanding of policy coverages and the steps you can take to prevent high rates. Many rating criteria that result in higher rates such as traffic violations, accidents, and poor credit rating can be amended by making small lifestyle or driving habit changes. Read the full article for additional ideas to lower rates and get additional discounts.
- Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or Allstate, while agents who are independent can give you price quotes for a wide range of insurance providers.
- Compare the new quotes to your existing rates to see if a cheaper rate is available in Columbus. If you find a lower rate and buy the policy, verify that coverage does not lapse between policies.
- Give proper notification to your current agent or company of your intent to cancel your current coverage and submit a completed application and payment to the newly selected company. As soon as you receive it, keep your new certificate of insurance in an accessible location in your vehicle.
An important part of this process is to use the same amount of coverage on each price quote and and to get rate quotes from as many companies as feasibly possible. This ensures a fair rate comparison and the most accurate and complete price analysis.
Consumers have multiple insurance companies to choose from, and though it is a good thing to have multiple companies, more options can take longer to find the best rates for your vehicles.
You should take the time to do price comparisons before your policy renews because car insurance rates go up and down regularly. If you had the best deal on Volvo S40 insurance in Columbus at your last renewal there is a good chance you can find better prices now. You'll find quite a bit of inaccurate information about S40 insurance online, but we're going to give you some excellent ideas to find cheap car insurance in Columbus.
The companies in the list below offer price quotes in Columbus, OH. If several companies are displayed, we recommend you get prices from several of them to get a more complete price comparison.
Cheaper Columbus auto insurance quotes with discounts
Auto insurance companies do not advertise all their discounts very well, so we took the time to find a few of the more well known and the more hidden discounts you could be receiving when you buy Columbus car insurance online.
- ABS and Traction Control Discounts - Vehicles with ABS braking systems or traction control have fewer accidents and the ABS can save up to 10%.
- Smart Student Discounts - Maintaining excellent grades can be rewarded with saving of up to 25%. This discount can apply up to age 25.
- Senior Citizen Discount - If you qualify as a senior citizen, you may qualify for a discount up to 10%.
- Seat Belts Save more than Lives - Drivers who require all vehicle occupants to use a seat belt can save a little off the PIP or medical payment premium.
- Auto/Home Discount - If you insure your home and vehicles with the same insurance company they may give you a discount of at least 10 to 15 percent or more.
- E-sign Discounts - Some companies give back up to $50 just for signing your application on the internet.
- Multi-Vehicle Discounts - Buying insurance for more than one vehicle with the same auto insurance company could earn a price break for each car.
You can save money using discounts, but many deductions do not apply to the overall cost of the policy. Most cut specific coverage prices like physical damage coverage or medical payments. Just because it seems like it's possible to get free car insurance, insurance companies wouldn't stay in business.
The illustration below visualizes the comparison of Volvo S40 insurance costs with and without discounts applied to the policy rates. The prices are based on a female driver, no violations or accidents, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, multi-car, claim-free, homeowner, and safe-driver discounts applied.
A few popular companies and a selection of discounts are shown below.
- State Farm may have discounts that include Steer Clear safe driver discount, good driver, accident-free, driver's education, and multiple autos.
- GEICO has savings for seat belt use, daytime running lights, federal employee, five-year accident-free, and emergency military deployment.
- Allstate policyholders can earn discounts including eSmart discount, good payer, utility vehicle, resident student, anti-lock brakes, and farm vehicle.
- SAFECO may include discounts for anti-theft, anti-lock brakes, homeowner, accident prevention training, and teen safe driver.
- Farm Bureau discounts include good student, youthful driver, multi-policy, renewal discount, and safe driver.
- Progressive offers premium reductions for good student, continuous coverage, multi-vehicle, homeowner, online quote discount, multi-policy, and online signing.
- AAA offers discounts for good driver, AAA membership discount, good student, education and occupation, multi-car, multi-policy, and pay-in-full.
Before buying, ask all the companies which discounts can lower your rates. Some of the discounts discussed earlier might not be available to policyholders in every state.
Rates and detailed analysis
The table shown below covers different rate quotes for Volvo S40 models. Having a better idea how rates are calculated is important for you to make smart choices when comparing insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S40 T5 AWD R-Design||$124||$234||$214||$12||$64||$648||$54|
|Get Your Own Custom Quote Go|
Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate information does not factor in garaging location in Columbus which can impact coverage prices greatly.
Rate comparison of male drivers versus female drivers
The illustration below compares Volvo S40 auto insurance costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, full physical damage coverage, $100 deductibles, marital status is single, and no discounts are applied.
Volvo S40 liability rates compared to full coverage
The illustration below visualizes the comparison of Volvo S40 auto insurance costs with full physical damage coverage compared to only buying liability only. The data assumes no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are applied.
When to stop buying physical damage coverage
There is no specific rule of when to stop paying for physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let's say your Volvo S40 replacement value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after paying your policy deductible. If premium cost is more than $600 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where dropping physical damage coverage is not in your best interest. If you haven't satisfied your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.
Reduce Insurance Rates with These Tips
A large part of saving on auto insurance is knowing some of the factors that help determine the price you pay for auto insurance. If you understand what impacts premium levels, this helps enable you to make changes that could help you find big savings. Multiple criteria are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious like an MVR report, but other criteria are more transparent such as your credit history or how safe your car is.
The factors shown below are some of the things utilized by car insurance companies to help set premiums.
Improve your credit score and save - Having a bad credit score can be a huge factor in determining what you pay for auto insurance. Insureds that have high credit ratings tend to file fewer claims than those with poor credit scores. If your credit score is lower than you'd like, you could potentially save money when insuring your Volvo S40 if you clean up your credit.
Liability insurance limits on your policy - Your auto insurance policy's liability coverage will provide protection when you are found liable for an accident. It provides legal defense starting from day one. It is affordable coverage when compared to the cost of physical damage coverage, so do not cut corners here.
Responsible drivers pay less - Only having one speeding ticket or other violation can increase rates twenty percent or more. Good drivers pay less for auto insurance as compared to those with violations. Drivers who get license-revoking violations like hit and run, DWI or reckless driving convictions may face state-mandated requirements to file a SR-22 with their state DMV in order to prevent a license revocation.
The chart below demonstrates how traffic citations and accident claims can increase Volvo S40 yearly insurance costs for different ages of insureds. The premiums are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
More traffic means higher claims - Residing in smaller towns and rural areas of the country can be a good thing if you are looking for the lowest rates. People who live in big cities tend to have congested traffic and more severe claims. Fewer drivers corresponds to lower accident rates in addition to fewer liability claims.