Auto Insurance Quotes for a Volvo S40 in Baltimore

Insurance for Volvo S40If you want to save money, the best way to get budget Volvo S40 insurance in Baltimore is to compare prices once a year from different companies who sell insurance in Maryland.

First, spend some time learning about what coverages are included in your policy and the modifications you can make to keep rates down. Many policy risk factors that are responsible for high rates such as careless driving and a negative credit rating can be eliminated by paying attention to minor details.

Second, compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from a single company like GEICO and State Farm, while independent agencies can quote rates for many different companies.

Third, compare the price quotes to your current policy premium to see if switching to a new carrier will save money. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.

Fourth, notify your company or agent to cancel the current policy and submit payment and a signed application to your new agent or company. Once the application is submitted, store the proof of insurance certificate somewhere easily accessible.

An essential thing to point out is that you’ll want to compare the same deductibles and limits on each quote request and and to get prices from as many companies as possible. This ensures a level playing field and a thorough price selection.

It’s astonishing, but most drivers in Maryland kept buying from the same company for at least the last four years, and nearly 40% of drivers have never compared rates to find affordable insurance. American consumers can save approximately 47% each year by just shopping around, but most undervalue the amount of money they would save if they switched to a more affordable policy.

Comparison shopping for cheaper insurance policy in Baltimore is not as hard as you think. If you have a policy now or are looking for a new policy, use these money-saving tips to cut your premiums and still have adequate protection. Drivers just have to know the tricks to compare company rates from many different companies online.

The majority of larger companies like Progressive, GEICO, Allstate and State Farm allow you to get prices for coverage on their websites. Getting online rates for Volvo S40 insurance in Baltimore is pretty painless as all you need to do is type in the coverage amounts you desire as detailed in the form. When the form is submitted, the system automatically retrieves reports for credit and driving violations and quotes a price based on many factors.

Being able to quote online for Volvo S40 insurance in Baltimore simplifies rate comparisons, and it’s also necessary to have as many quotes as possible if you are searching for a lower rate.

To fill out one form to compare multiple rates now, compare rates from the companies below. If you have your current policy handy, we recommend you type in coverages and limits exactly as shown on your declarations page. Using the same limits helps guarantee you will get a fair comparison using the same coverage and limits.

The following companies are our best choices to provide price quotes in Baltimore, MD. To get the best car insurance in Baltimore, it’s highly recommended you visit two to three different companies in order to find the most affordable rates.

Volvo S40 coverage statistics

The table shown below outlines different policy rates for Volvo S40 models. Having a better understanding of how insurance policy premiums are determined can aid in making decisions when choosing a new policy provider.

Volvo S40 Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $248 $492 $426 $26 $128 $1,320 $110
S40 T5 $248 $492 $426 $26 $128 $1,320 $110
S40 T5 AWD R-Design $248 $492 $426 $26 $128 $1,320 $110
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Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium amounts do not factor in vehicle garaging location which can increase or decrease prices significantly.

Physical damage deductible comparison

One of the more difficult decisions when buying insurance is how high should the deductibles for physical damage be. The tables below can help you visualize how much more rates are of buying low and high insurance deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.

Volvo S40 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $354 $624 $406 $24 $122 $1,555 $130
S40 T5 $354 $624 $406 $24 $122 $1,555 $130
S40 T5 AWD R-Design $354 $624 $406 $24 $122 $1,555 $130
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Volvo S40 insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $218 $392 $406 $24 $122 $1,162 $97
S40 T5 $218 $392 $406 $24 $122 $1,162 $97
S40 T5 AWD R-Design $218 $392 $406 $24 $122 $1,162 $97
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Price information does not factor in specific location which can lower or raise prices considerably.

Based on these figures, using a $250 deductible costs approximately $33 more each month or $396 for a full year averaged for all S40 models than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 23 months between claims, you would more than likely save some money if you opt for a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $130
Average monthly premium for $1,000 deductibles (subtract): – $97
Monthly savings from raising deductible: $33
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

Insurance premiums for males and females

The chart below illustrates the difference between Volvo S40 premium costs for male and female drivers. The premiums assume no accidents, no driving violations, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no discounts are applied.

Difference between full coverage and liability only rates

The information below illustrates the difference between Volvo S40 annual premium costs with full physical damage coverage compared to only buying liability only. The rate quotes are based on no violations or claims, $500 deductibles, single marital status, and no discounts are factored in.

When to switch to liability coverage only

There is no written rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Volvo S40 settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $8,000 after paying your deductible. If you are currently paying more than $800 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some situations where removing full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan requirements. 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.

Components of Your Volvo S40 Insurance Premiums

Consumers need to have an understanding of some of the elements that come into play when calculating the rates you pay for auto insurance. If you have some idea of what determines base rates, this allows you to make good choices that could help you find big savings.

Pleasure use or commuting – The higher the miles on your Volvo annually the more you’ll pay to insure it. Almost all companies charge to insure your cars based on how the vehicle is used. Cars left parked in the garage get more affordable rates than those that get driven frequently. An incorrectly rated S40 may be costing you higher rates. Verify your vehicle rating is showing the correct usage for each vehicle.

Safer vehicles means cheaper insurance – Vehicles with good safety scores tend to be cheaper to insure. Vehicles built for safety result in less severe injuries and lower rates of occupant injuries means less money paid by your insurance company and cheaper rates on your policy.

Youthful vs. mature drivers – Youthful drivers in Maryland have a tendency to be more careless when at the wheel of a vehicle so auto insurance rates are higher. Older drivers have been proven to be more responsible, file fewer claims, and get fewer tickets.

The following chart uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

Prevent your car from being stolen – Selecting a car model with an alarm system can get you a discount on your auto insurance. Theft prevention devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart your car from being stolen.

Your address can affect costs – Having an address in a rural area has definite advantages when it comes to auto insurance. Drivers in populated areas have to deal with more traffic problems and a longer drive to work. Less people living in that area translates into fewer accident claims and lower theft and vandalism rates.

No policy claims equals better auto insurance rates – If you are a frequent claim filer, you can definitely plan on increased rates or even have your policy non-renewed. Car insurance companies in Maryland provide the lowest premiums to people who are claim-free. Insurance coverage is meant to be used in the event of major claims that would cause financial hardship.

Tickets and citations cost more than a fine – Whether or not you get tickets has a lot to do with how much you pay for insurance. Even one chargeable violation may increase your cost substantially. Drivers who don’t get tickets pay less for auto insurance than people who have multiple driving citations. Drivers with flagrant violations such as hit and run, DWI or reckless driving convictions may need to submit a SR-22 form with their state DMV in order to legally drive a vehicle.

The illustration below illustrates how violations and accident claims can influence Volvo S40 yearly insurance costs for different age groups of insureds. The data is based on a single male driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.

Raising comp and collision deductibles saves money – Deductibles for physical damage are how much the insured will be required to pay before a claim is paid by your company. Protection for physical damage, also called comprehensive and collision insurance, insures against damage to your car. A few examples of covered claims would be collision with another vehicle, collision with a deer, and having a roll-over accident. The more of the claim you’re willing to pay, the less your auto insurance will be.

Car insurance is not optional

Even though it’s not necessarily cheap to insure a Volvo in Baltimore, car insurance may be mandatory for several reasons.

The benefits of buying car insurance are without a doubt worth the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying over $850 per year so compare rate quotes once a year at a minimum to save money.