Affordable Rates for Volvo V50 Insurance in Columbus

Insurance quote for Volvo V50 in ColumbusIf saving money is your primary concern, then the best way to find better pricing on car insurance rates in Columbus is to make a habit of regularly comparing prices from insurance carriers who sell insurance in Ohio.

  1. It will benefit you to learn about coverages and the things you can control to prevent expensive coverage. Many rating factors that cause high rates like high-risk driving behaviors and a low credit rating can be amended by making minor driving habit or lifestyle changes.
  2. Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from one company like Progressive or State Farm, while agents who are independent can quote prices from multiple insurance companies. View prices
  3. Compare the new rate quotes to your existing rates to see if switching to a new carrier will save money. If you can save some money, make sure there is no lapse in coverage.
  4. Notify your company or agent of your intention to cancel your current car insurance policy. Submit a completed policy application and payment to the new company. Once the paperwork is finalized, put the proof of insurance certificate in your glove compartment.

One tip to remember is that you’ll want to compare similar deductibles and liability limits on every price quote and and to get quotes from as many different insurance providers as possible. This provides a fair price comparison and the most accurate and complete price analysis.

Anyone knows that auto insurance companies don’t want you to look for a cheaper policy. Drivers who compare other prices are inclined to move their business because there are good odds of finding better rates. A recent survey revealed that drivers who shopped around annually saved about $3,500 over four years as compared to drivers who never shopped around for cheaper prices.

If saving money on car insurance is your objective, then having an understanding of the best way to compare auto insurance can save time, money, and frustration.

If you’re already insured or are just looking to switch companies, you will benefit by learning to lower your rates while maximizing coverage. Finding the lowest cost car insurance coverage in Columbus is quite easy. Comparison shoppers only need to know the proper way to compare insurance rates over the internet.

The companies shown below offer free quotes in Ohio. If more than one company is shown, we recommend you visit two to three different companies in order to find the most affordable rates.

Affordable rates by getting discounts

Car insurance companies do not advertise every discount very well, so the list below gives a summary of both well-publicized as well as the least known discounts that you can inquire about if you buy Columbus car insurance online.Insurance discounts

Don’t be surprised that many deductions do not apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as comp or med pay. If you do the math and it seems like you would end up receiving a 100% discount, insurance companies aren’t that generous.

The chart below visualizes the comparison of Volvo V50 insurance prices with and without discounts. The price estimates are based on a male driver, no driving violations, no at-fault accidents, Ohio state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, homeowner, multi-policy, and safe-driver discounts applied.

Car insurance companies that have these discounts include:

If you need cheaper Columbus car insurance quotes, ask each company or agent what discounts are available to you. Some discounts listed above may not be offered in Columbus. For a list of insurers that offer some of these discounts in Columbus, click here.

Rates and data analysis

The rate table displayed next covers estimates of insurance policy prices for Volvo V50 models. Understanding how insurance rates are calculated can be valuable when making informed coverage decisions.

Volvo V50 Insurance Rates in Columbus, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $146 $258 $234 $14 $70 $722 $60
V50 AWD T5 R-Design $146 $298 $234 $14 $70 $762 $64
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Premium data assumes married male driver age 40, 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. Table data does not factor in specific Columbus garaging location which can change coverage prices significantly.

Deductible comparison

One of the hardest decisions when shopping for car insurance is how high should the deductibles for physical damage be. The comparisons below may aid in understanding the rate difference between high and low physical damage deductibles. The first price estimate table uses a $100 physical damage coverage deductible and the second pricing table uses a $1,000 deductible.

Volvo V50 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $220 $416 $226 $14 $68 $969 $81
V50 AWD T5 R-Design $220 $478 $226 $14 $68 $1,031 $86
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Volvo V50 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
V50 2.4I $122 $220 $226 $14 $68 $650 $54
V50 AWD T5 R-Design $122 $252 $226 $14 $68 $682 $57
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Estimates do not factor in Columbus location which can modify insurance rates substantially.

Based on the above data, using a $100 deductible will cost you approximately $28 more each month or $336 every year than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 32 months between claims, you would most likely save money if you opt for a higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $100 deductibles: $84
Average monthly premium for $1,000 deductibles (subtract): – $56
Monthly savings from raising deductible: $28
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 32 months

The chart below demonstrates how choosing different deductibles and can raise or lower Volvo V50 insurance costs for different ages of insureds. The data is based on a single female driver, full physical damage coverage, and no additional discounts are factored in.

Volvo V50 insurance premiums by gender in Columbus

The illustration below shows the comparison of Volvo V50 premium costs for male and female drivers. The costs are based on no claims, a clean driving record, comprehensive and collision coverage, $250 deductibles, drivers are single, and no policy discounts are applied.

How do Insurance Companies Determine Volvo V50 Insurance Prices?

Lots of things are part of the calculation when you get a price on insurance. Most are fairly basic such as your driving record, but some are not as apparent like your vehicle usage or your vehicle rating. An important part of buying insurance is that you know some of the factors that aid in calculating the level of your policy premiums. If you know what determines premiums, this helps enable you to make changes that could result in cheaper rates.

The itemized list below are just a few of the factors that factor into your prices.

Policy add-ons add up – Insurance companies have many additional coverages that sound like a good idea at the time on your V50 policy. Insurance for things like replacement cost coverage, death and dismemberment, and Farm Bureau memberships may be costing you every month. They may sound like good ideas when discussing your needs, but if you’ve never needed them in the past think about removing them and cutting costs.

Drivers with good credit save on car insurance – Credit score is a large factor in calculating your car insurance rates. People that have good credit tend to file fewer claims than drivers with lower credit ratings. If your credit score could use some work, you could save money insuring your Volvo V50 by repairing your credit.

Rural areas have lower costs – Residing in a small town has it’s advantages when insuring your vehicles. Fewer drivers on the road translates into fewer accidents. Drivers in populated Ohio areas tend to have congested traffic and higher rates of accident claims. The longer drive time means more chance of being in an accident.

Liability insurance safeguards assets – A critical coverage on your policy, liability insurance is the protection if ever you are responsible for physical damage or personal injury to other. Your liability coverage provides legal defense coverage starting from day one. This coverage is very inexpensive compared to comp and collision, so insureds should have plenty of protection for their assets.

Prices are impacted by vehicle performance – The type of car, truck or SUV you drive makes a huge difference in determining your rates. Smaller low performance passenger models usually are quite affordable to insure, but many other things help determine your insurance rates.

The next chart uses these assumptions: married male driver age 50, full coverage with $500 deductibles, and no discounts or violations. It compares Volvo V50 policy rates compared to other vehicles that have a range of performances.

Traffic violations hurt – Whether or not you get tickets can have a huge impact on auto insurance premiums. Even one driving citation can boost insurance rates twenty percent or more. Careful drivers get better prices than bad drivers. Drivers with severe violations like DUI or willful reckless driving may be required to submit a SR-22 form with their state in order to prevent their license from being revoked.

The chart below demonstrates how traffic citations and at-fault claims drive up Volvo V50 annual premium costs for each age group. The data is based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are taken into consideration.