It’s safe to conclude that car insurance companies want to keep you from comparing rates. People who shop around for a cheaper policy are highly likely to move their business because there are good odds of finding discount prices. Remarkably, a study showed that people who routinely compared rates saved $865 annually compared to people who never compared other company’s rates.
If finding budget-friendly rates on auto insurance is your goal, then having an understanding of the best ways to shop for insurance premiums can make the process less intimidating.
If you want to save the most money, the best way to get more affordable car insurance rates in Cleveland is to compare prices annually from insurance carriers that insure vehicles in Ohio. Price quotes can be compared by following these steps.
Step 1: Take a few minutes and learn about auto insurance and the measures you can control to drop your rates. Many factors that are responsible for high rates like careless driving and an imperfect credit rating can be controlled by making small lifestyle or driving habit changes.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like Progressive or State Farm, while independent agencies can provide rate quotes from many different companies.
Step 3: Compare the new rate quotes to the price on your current policy to see if cheaper XC70 coverage is available in Cleveland. If you find a lower rate and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Notify your company or agent of your intent to cancel your existing policy. Submit a completed application and payment to your new company or agent. As soon as you receive it, keep the new proof of insurance certificate in an easily accessible location in your vehicle.
A good tip to remember is to compare identical coverage information on each quote request and to quote with every company you can. Doing this provides a level playing field and the best price selection.
Locating the most cost-effective auto insurance policy in Cleveland is not that difficult. If you have insurance now or are looking for a new policy, use these techniques to get lower rates while maintaining coverages. Drivers just need to learn the proper methods to compare company rates online.
The most recommended method to compare rate quotes for Volvo XC70 insurance in Cleveland is to understand all the major auto insurance companies will pay a fee to compare rate quotes. All consumers are required to do is provide the companies a bit of rating information such as if a SR-22 is required, if the car is leased, driver ages, and deductibles desired. That information is automatically sent to multiple companies and they provide comparison quotes quickly.
To find lower cheaper Volvo XC70 insurance rates now, click here and enter the information requested.
The car insurance companies shown below can provide free rate quotes in Cleveland, OH. If you wish to find the best auto insurance in Ohio, it’s highly recommended you visit two to three different companies to find the cheapest car insurance rates.
Statistics and details
The premium information displayed next outlines a range of insurance prices for Volvo XC70 models. Having a better idea how policy rates are determined can help customers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $132 | $214 | $262 | $16 | $78 | $702 | $59 |
| XC70 T6 AWD 4-Dr | $132 | $248 | $262 | $16 | $78 | $736 | $61 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in zip code location which can influence coverage prices significantly.
Should you raise deductibles?
One of the hardest decisions when shopping for insurance is how high should the deductibles for physical damage be. The rates shown below can help show how much more you’ll pay when you choose different coverage deductibles. The first table uses a $250 deductible for physical damage and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $220 | $348 | $256 | $16 | $76 | $941 | $78 |
| XC70 T6 AWD 4-Dr | $220 | $400 | $256 | $16 | $76 | $993 | $83 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $180 | $280 | $256 | $16 | $76 | $808 | $67 |
| XC70 T6 AWD 4-Dr | $180 | $324 | $256 | $16 | $76 | $852 | $71 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium costs do not factor in specific Cleveland garaging location which can change auto insurance rates considerably.
Using the data above, we can ascertain that using a $250 deductible costs approximately $12 more each month or $144 a year than quoting the higher $500 deductible. Since you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you have at a minimum 21 months between claims, you would more than likely save some money if you choose the higher deductible.
Age, gender, and Volvo XC70 insurance
The diagram below shows the comparison of Volvo XC70 premium costs for male and female drivers. Data assumes no claims, a clean driving record, full coverage, $1,000 deductibles, single marital status, and no additional discounts are factored in.
Volvo XC70 full coverage rates compared to liability only
The diagram below shows the comparison of Volvo XC70 insurance prices with and without full coverage. The premiums are based on no accidents, no driving violations, $500 deductibles, single marital status, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no definitive rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your Volvo XC70 book value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $8,000 after the policy deductible has been paid. If you are paying over $800 a year for physical damage coverage, then it may be the right time to buy liability only.
There are a few cases where only buying liability is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
It may be expensive, but it’s not optional
Despite the high cost of buying insurance for a Volvo XC70 in Cleveland, maintaining insurance is a good idea for several reasons.
- Just about all states have minimum mandated liability insurance limits which means state laws require a specific level of liability in order to get the vehicle licensed. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Volvo XC70, it’s most likely the lender will have a requirement that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank may buy a policy for your Volvo at a more expensive rate and force you to reimburse them for the expensive policy.
- Insurance protects both your assets and your car. Insurance will pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of buying auto insurance definitely exceed the price paid, particularly if you ever have a claim. But the average American driver is overpaying over $820 a year so you should quote and compare rates once a year at a minimum to save money.
Lower Your Cleveland Insurance Prices
Many factors are considered when premium rates are determined. Some are pretty understandable like a motor vehicle report, but other factors are not as apparent such as whether you are married or your vehicle rating. The best way to find cheaper insurance is to take a look at a few of the rating criteria that are used to determine the rates you pay for insurance. If you understand what determines premiums, this allows you to make educated decisions that can help you get much lower annual insurance costs.
Don’t get traffic citations – How you drive has a lot to do with how much you pay for insurance. Careful drivers pay less for auto insurance as compared to careless drivers. Having a single moving violation could increase your next policy renewal by twenty percent. Drivers who have received serious violations like DUI or reckless driving are required to submit a SR-22 or proof of financial responsibility with their state DMV in order to keep their license.
The diagram below demonstrates how traffic citations and accident claims can raise Volvo XC70 auto insurance costs for each different age group. The data assumes a single female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
Raising comp and collision deductibles saves money – Coverage for physical damage, also known as collision and other-than-collision, covers damage that occurs to your Volvo. Examples of some claims that would be covered are a broken windshield, damage from fire, and rolling your vehicle. Deductibles for physical damage tell how much you are required to spend out-of-pocket if the claim is covered. The more of the claim the insured is willing to pay, the less money you will pay for insurance.
Lower prices with no policy lapses – Driving without insurance coverage in place can get your license suspended and insurance companies will penalize you for letting your coverage lapse. Not only will you pay higher rates, not being able to provide proof of insurance could result in a revoked license or a big fine. You may then have to submit proof of financial responsibility or a SR-22 with the Ohio motor vehicle department to get your license reinstated.
Insure car and home with the same company – Lots of insurance companies will award better rates to policyholders that buy multiple policies such as combining an auto and homeowners policy. The discount can add up to anywhere from five to ten percent in most cases. Even with this discount, it’s in your best interest to shop around to help ensure you have the lowest rates. Drivers may still save even more than the discount by buying insurance from a different company.
Loss probability for a Volvo XC70 – Insurance companies analyze past claim statistics in order to profitably underwrite each model. Vehicles that are shown to have higher claim frequency or loss amount will be charged more to insure. The data below shows the insurance loss data used by companies for Volvo XC70 vehicles.
For each policy coverage, the claim probability for all vehicles, regardless of make or model, is considered to be 100. Numbers under 100 are indicative of better than average losses, while percentage numbers above 100 indicate higher probability of having a loss or a tendency for claims to be larger.
| Vehicle 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
There’s no such thing as the perfect auto insurance policy
When selecting coverage for your vehicles, there really isn’t a “best” method to buy coverage. Everyone’s situation is a little different and your auto insurance should be unique as well.
Here are some questions about coverages that may help highlight if your insurance needs might need professional guidance.
- Am I covered if I crash into my own garage door?
- Is there a penalty for late payment?
- Do I have newly-acquired coverage?
- Does my medical payments coverage pay my health insurance deductible?
- Will my rates increase for filing one claim?
- Do I get a pro-rated refund if I cancel my policy early?
- What is medical payments coverage?
- Should I pay a claim out-of-pocket?
- Are all vehicle passengers covered by medical payments coverage?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and can help protect your family.
Don’t give up on affordable rates
While you’re price shopping online, it’s not a good idea to sacrifice coverage to reduce premiums. Too many times, an insured dropped uninsured motorist or liability limits only to regret at claim time that it was a big mistake. Your strategy should be to buy the best coverage you can find at the best cost but still have enough coverage for asset protection.
Some car insurance companies do not provide the ability to get a quote online and usually these small insurance companies only sell coverage through local independent agencies. The cheapest Volvo XC70 insurance in Cleveland is available online and with local Cleveland insurance agents, so you should compare both to have the best rate selection.
Additional car insurance information can be read on the following sites:
- Child Safety FAQ (iihs.org)
- Who Has the Cheapest Auto Insurance for Drivers with Good Credit in Cleveland? (FAQ)
- How Much are Cleveland Car Insurance Quotes for 19 Year Olds? (FAQ)
- Booster Seat Ratings (iihs.org)
- Tread Depth and Tire Safety (State Farm)
- What is Covered by GAP Insurance? (Allstate)
- Medical Payments Coverage (Liberty Mutual)