How to Save on Volvo S40 Insurance in Irvine

How many years has it been since you compared more competitive Volvo S40 insurance in Irvine? Purchasing budget-priced Irvine Volvo S40 insurance quotes on the web may seem to be problematic for drivers not familiar with buying their car insurance on the internet. With such a large choice of online companies, how can Irvine drivers have a chance to compare all the different companies and get lower car insurance premiums?

Insurance rates Volvo S40 in IrvineShocking but true, over 70% of consumers have purchased from the same company for at least the last four years, and practically 40% of car insurance customers have never compared rates from other carriers. Many drivers in Irvine can save hundreds of dollars each year by just shopping around, but they just don’t understand how much they could save if they switched to a cheaper policy.

Insurance coverage details

The rate information displayed below showcases detailed analysis of insurance premium costs for Volvo S40 models. Being more informed about how insurance prices are established can aid in making informed decisions.

Volvo S40 Insurance Rates in Irvine, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $350 $624 $456 $26 $136 $1,592 $133
S40 T5 $350 $624 $456 $26 $136 $1,592 $133
S40 T5 AWD R-Design $350 $624 $456 $26 $136 $1,592 $133
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Table data does not factor in vehicle location which can influence auto insurance rates substantially.

Analysis of deductible levels

The hardest decision when buying coverage is which deductibles should you choose. The premium rates below may aid in understanding the costs and benefits of buying low and high coverage deductibles. The first rate comparisons uses a $250 deductible for comp and collision and the second rate chart uses a $1,000 deductible.

Volvo S40 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $386 $678 $442 $26 $132 $1,689 $141
S40 T5 $386 $678 $442 $26 $132 $1,689 $141
S40 T5 AWD R-Design $386 $678 $442 $26 $132 $1,689 $141
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Volvo S40 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $238 $426 $442 $26 $132 $1,264 $105
S40 T5 $238 $426 $442 $26 $132 $1,264 $105
S40 T5 AWD R-Design $238 $426 $442 $26 $132 $1,264 $105
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Estimates do not factor in vehicle location which can lower or raise coverage prices greatly.

Using the premium rates above, we can conclude that using a $250 deductible costs an average of $36 more each month or $432 for a full year averaged for all S40 models than buying the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go at least 21 months between claim filings, you would probably save some money by selecting a higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $141
Average monthly premium for $1,000 deductibles (subtract): – $105
Monthly savings from raising deductible: $36
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $36
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One important issue to know is that higher deductibles results in more money out-of-pocket when you have to file a claim. You need to have some extra savings in the event you have to pay the deductible to have repairs made.

The example below demonstrates how deductible levels and can impact Volvo S40 insurance costs for different age groups. The data is based on a single female driver, full coverage, and no discounts are applied to the premium.

Does full coverage make sense?

The diagram below shows the comparison of Volvo S40 auto insurance rates with full coverage and liability only. The costs are based on no violations or accidents, $500 deductibles, single status, and no discounts are applied.

When to stop buying comprehensive and collision coverage

There is no exact rule for dropping full coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s assume your Volvo S40 settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $8,000 after the deductible is paid. If you are paying more than $800 annually for full coverage, then you may need to consider dropping full coverage.

There are some conditions where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

Smart Consumers Save More

Lots of factors are used in the calculation when you quote your car insurance policy. Some are pretty understandable such as traffic violations, although some other factors are more transparent such as your marital status and annual miles driven. A large part of saving on car insurance is knowing a few of the rating criteria that aid in calculating your policy premiums. When you understand what determines base rates, this allows you to make educated decisions that can earn you big savings.

California car insurance companies ranked

Selecting the top car insurance provider can be difficult considering how many companies there are to choose from in California. The ranking information listed below may help you decide which coverage providers to look at purchasing coverage from.

Top 10 Irvine Car Insurance Companies Ranked by Claims Service

  1. AAA of Southern California
  2. State Farm
  3. Esurance
  4. AAA Insurance
  5. Progressive
  6. Liberty Mutual
  7. GEICO
  8. Allstate
  9. Titan Insurance
  10. The Hartford

Top 10 Irvine Car Insurance Companies Ranked by Value

  1. USAA
  2. American Family
  3. The Hartford
  4. AAA of Southern California
  5. Titan Insurance
  6. The General
  7. AAA Insurance
  8. State Farm
  9. Mercury Insurance
  10. Nationwide

Quote often and quote early

Some car insurance companies may not provide the ability to get quotes online and most of the time these regional carriers sell through independent insurance agents. Cheap Volvo S40 insurance in Irvine is available both online in addition to many Irvine insurance agents, so you should compare both in order to have the best chance of saving money.

When getting Irvine car insurance quotes online, it’s very important that you do not buy less coverage just to save a little money. There have been many cases where someone sacrificed liability coverage limits only to find out they didn’t purchase enough coverage. Your focus should be to buy a smart amount of coverage at an affordable rate.

In this article, we covered many ideas to get a better price on Volvo S40 insurance in Irvine. The most important thing to understand is the more companies you get premium rates for, the better likelihood of getting affordable Volvo S40 insurance quotes. Consumers could even find that the most savings is with a smaller regional carrier.

How to buy low-cost Volvo S40 insurance in Irvine

If you want to find the absolute lowest rates, then the best way to find low-cost prices for car insurance rates in Irvine is to start doing a yearly price comparison from companies who can sell car insurance in California. This can be done by following these guidelines.

The key aspect of shopping around is to use identical coverages on every quote and and to get rate quotes from as many different companies as possible. This guarantees a level playing field and a complete price analysis.

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