Auto Insurance Quotes for a Volvo V50 in Baltimore

Saving money on Volvo V50 insurance in Baltimore is a challenge for drivers who are new to online price comparisons. Consumers have so many options available that it can be a ton of work to find cheaper Volvo V50 insurance rates.

Astonishing but true according to a recent study, the majority of drivers have bought auto insurance from the same company for a minimum of four years, and 38% of customers have never taken the time to shop around. Maryland drivers could cut their rates by as much as $800 a year, but they don’t understand how simple it is to do a rate comparison.

You need to quote other rates on a regular basis because prices are variable and change quite frequently. Despite the fact that you may have had the best rate on Volvo V50 insurance in Baltimore on your last policy other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because you’re about to learn how to quote online to find great coverage at a great price.

If you are already insured, you stand a good chance to be able to lower your rates using the ideas presented in this article. Locating cheaper insurance in Baltimore is not as time-consuming as you think. But Maryland car owners can benefit from knowing the way insurance companies calculate your policy premium because it varies considerably.

Companies offering competitive Volvo V50 rates in Baltimore, MD

The companies shown below can provide free rate quotes in Baltimore, MD. To get cheaper car insurance in Baltimore, we suggest you visit two to three different companies to get the lowest price.

Volvo V50 coverage statistics

The rate table shown next outlines a range of insurance policy prices for Volvo V50 models. Learning more about how car insurance premiums are figured can assist in making informed coverage decisions.

Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 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 Baltimore location which can increase or decrease price quotes greatly.

Raise deductibles and save

One of the most common car insurance questions is how high should your deductibles be. The following insurance rates can help show the rate differences when you buy lower versus higher comp and collision deductibles. The first data set uses a $250 comprehensive and collision deductible and the second pricing table uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Rate quotes do not factor in the specific area where the vehicle is garaged which can revise price quotes noticeably.

Based on the data above, we can derive that using a $250 deductible will cost you approximately $19 more each month or $228 for a full year than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at a minimum 13 months between claims, you would most likely save money by going with a higher deductible.

The illustration below shows how choosing a deductible and can change Volvo V50 insurance premiums for each age group. The premium estimates are based on a married male driver, comp and collision included, and no additional discounts are factored in.

Impact of careless driving on Baltimore car insurance rates

The information below illustrates how violations and at-fault fender-benders drive up Volvo V50 insurance costs for different age categories. The premiums are based on a married female driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.

Price comparison of only insuring for liability

The diagram below compares Volvo V50 car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no claims or driving citations, $500 deductibles, single status, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no definitive rule to exclude physical damage coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s assume your Volvo V50 claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after you pay the deductible. If you are paying over $500 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.

There are some situations where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not opt for liability only.

Auto insurance discounts help lower rates for Volvo V50 insurance in Baltimore

Auto insurance is neither fun to buy or cheap, but you might already qualify for some discounts that could drop your premiums quite a bit. Many discounts should be triggered at quote time, but occasionally some discounts must be asked about prior to getting the savings. If you don’t get every credit possible, you could be getting lower rates.

• Good Driver Discount – Drivers who don’t get into accidents can save up to 40% or more on their Baltimore car insurance quote than their less cautious counterparts.
• Senior Discount – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums.
• Distant Student – Kids who live away from home to go to college and do not have access to a covered vehicle may be insured at a cheaper rate.
• Pay Now and Pay Less – By paying your entire bill at once rather than spreading payments over time you could save 5% or more.
• Paperwork-free – Some of the larger companies will give you a small discount just for signing your application on their website.
• Multiple Cars – Drivers who insure primary and secondary vehicles on one policy could earn a price break for each car.
• New Car Discount – Buying a new car instead of a used V50 can get you a discount compared to insuring an older model.
• Accident Waiver – This one isn’t a discount, but a handful of insurance companies permit an accident without raising rates as long as you don’t have any claims for a particular time prior to the accident.
• Discounts for Federal Employees – Having worked for a branch of the government could provide a small rate reduction with certain companies.

Please keep in mind that most discounts do not apply to all coverage premiums. Most only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way.

The chart below illustrates the comparison of Volvo V50 auto insurance costs with and without discounts applied. The price estimates are based on a female driver, no claims or driving citations, Maryland state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, multi-car, marriage, safe-driver, and homeowner discounts applied.

A list of auto insurance companies and some of the discounts are outlined below.

• Progressive has savings for good student, multi-policy, continuous coverage, online signing, homeowner, and multi-vehicle.
• MetLife offers premium reductions for good student, defensive driver, multi-policy, claim-free, accident-free, and good driver.
• Mercury Insurance offers discounts including anti-theft, annual mileage, good student, good driver, and multi-car.
• Nationwide policyholders can earn discounts including business or organization, anti-theft, multi-policy, family plan, and accident-free.
• GEICO may include discounts for anti-theft, emergency military deployment, driver training, seat belt use, anti-lock brakes, and defensive driver.
• AAA discounts include multi-policy, anti-theft, multi-car, good student, and pay-in-full.

If you want the cheapest Volvo V50 rate quotes, ask each company which discounts you may be entitled to. Discounts may not be offered in your state. To locate auto insurance companies who offer cheap Volvo V50 insurance quotes in Baltimore, click here to view.

Are car insurance agents used anymore?

A lot of people just want to sit down with an agent and we recommend doing that One of the best bonuses of getting free rate quotes online is that you can find cheap insurance rates and still choose a local agent. And supporting neighborhood agents is definitely important in Baltimore.

Upon completion of this simple form, the quote information gets sent to local insurance agents that give free quotes and help you find cheaper coverage. You don’t have to even leave your home as quotes are delivered to you instantly. You’ll get the best rates and an insurance agent to talk to. If you wish to quote rates from a specific insurance provider, you can always jump over to their website and give them your coverage information.

Exclusive and independent Baltimore auto insurance agents

If you want to use a local insurance agency, you must know there are a couple types of insurance agents that you can choose from. Insurance policy providers are either independent or exclusive depending on the company they work for.

Independent Agents

Independent agencies are not employed by one company and that gives them the ability to insure through many different insurance companies and get the cheapest rates. If premiums increase, your agent can just switch to a different company and you don’t have to find a new agent. When shopping rates, you absolutely need to compare prices from a couple of independent agencies so that you can do a thorough price comparison. They often place coverage with lesser-known insurance companies which could offer lower prices.

Featured below is a short list of independent insurance agencies in Baltimore that may be able to give price quotes.

• Rosasco and Yetter Insurance Agency
  8831 Satyr Hill Rd #302 – Baltimore, MD 21234 – (410) 661-1440 – View Map
• Hill Point Insurance LLC
  1400 S Charles St – Baltimore, MD 21230 – (410) 779-9272 – View Map
• Luray Insurance of Baltimore
  1726 Reisterstown Rd #220 – Baltimore, MD 21208 – (410) 602-2636 – View Map

View more Baltimore agents

Exclusive Agencies

Exclusive agencies can only place business with one company and examples are AAA, Allstate, and State Farm. Exclusive agencies are unable to provide other company’s prices so they have to upsell other benefits. Exclusive agencies receive a lot of sales training on the products they sell which helps overcome the inability to quote other rates. Consumers often choose to use an exclusive agent mainly due to loyalty to the company rather than low price.

Below is a short list of exclusive agencies in Baltimore that are able to give comparison quotes.

• David Rosario – State Farm Insurance Agent
  3121 Eastern Ave – Baltimore, MD 21224 – (410) 850-4949 – View Map
• Allstate Insurance: Donald White
  733 W 40th St #311 – Baltimore, MD 21211 – (410) 467-9600 – View Map
• Joe Lawton – State Farm Insurance Agent
  9008 Harford Rd – Baltimore, MD 21234 – (410) 665-0243 – View Map

View more Baltimore agents

Finding a good insurance agency shouldn’t rely on just a cheap price quote. You should also get answers to these questions.

• Is the agent CPCU or CIC certified?
• Does the agent have a valid license to sell insurance in Maryland?
• By raising physical damage deductibles, how much would you save?
• Are claim adjusters local or do you have to take your car somewhere else?
• Are they actively involved in the community?
• Does the agency have a current Errors and Omissions policy?
• Will you work with the agent or an assistant?

Auto insurance policy coverages for a Volvo V50

Learning about specific coverages of your policy helps when choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Collision coverage

Collision coverage pays to fix your vehicle from damage from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things like sideswiping another vehicle, crashing into a building, hitting a parking meter, colliding with a tree and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible on your V50 to bring the cost down.

Auto liability insurance

This can cover damage that occurs to other’s property or people that is your fault. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 30/60/15 which means $30,000 in coverage for each person’s injuries, $60,000 for the entire accident, and a total limit of $15,000 for damage to vehicles and property. Alternatively, you may have a combined limit which combines the three limits into one amount without having the split limit caps.

Liability insurance covers claims such as funeral expenses, emergency aid and attorney fees. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible. Maryland requires drivers to carry at least 30/60/15 but it’s recommended drivers buy better liability coverage.

The illustration below demonstrates why buying the state minimum limits may not be high enough to adequately cover claims.

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your Volvo V50.

Because many people only purchase the least amount of liability that is required (30/60/15), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Comprehensive auto insurance

This coverage pays for damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims like a broken windshield, damage from a tornado or hurricane, hail damage, vandalism and damage from flooding. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for medical expenses

Coverage for medical payments and/or PIP pay for expenses for doctor visits, dental work, X-ray expenses, EMT expenses and prosthetic devices. They can be used in conjunction with a health insurance plan or if you are not covered by health insurance. It covers both the driver and occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible

Find cheap rates by being thorough

We just covered a lot of information how to save on Volvo V50 insurance in Baltimore. It’s most important to understand that the more price quotes you have, the better likelihood of getting affordable Volvo V50 insurance quotes. Drivers may even discover the lowest prices come from a smaller regional carrier.

As you prepare to switch companies, never skimp on critical coverages to save a buck or two. In too many instances, drivers have reduced physical damage coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to get the best coverage possible at a price you can afford, but don’t skip important coverages to save money.

Budget-friendly auto insurance in Baltimore can be bought online as well as from insurance agents, so get free Baltimore car insurance quotes from both of them to get a complete price analysis. There are still a few companies who may not offer rates over the internet and most of the time these small insurance companies sell through independent insurance agencies.

Steps to buying cheaper Volvo V50 insurance in Baltimore

The most effective way to find the cheapest price for Volvo V50 insurance in Baltimore is to compare quotes annually from companies who sell insurance in Maryland.

• Step 1: Take a few minutes and learn about policy coverages and the changes you can make to prevent rate increases. Many things that result in higher prices like traffic citations and a substandard credit score can be improved by making minor driving habit or lifestyle changes.
• Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from a single company like GEICO or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies.
• Step 3: Compare the new quotes to your current policy premium to see if you can save by switching companies. If you can save money and buy the policy, make sure there is no lapse in coverage.

One important bit of advice is to use identical limits and deductibles on each quote and and to get price estimates from as many companies as feasibly possible. This guarantees a fair rate comparison and and a good selection of different prices.

For more information, feel free to browse the following helpful articles:

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• Who Has Cheap Auto Insurance Quotes for Electric Cars in Baltimore? (FAQ)
• What Insurance is Cheapest for Used Cars in Baltimore? (FAQ)
• Who Has Cheap Auto Insurance for a Dodge Ram in Baltimore? (FAQ)
• Who Has the Cheapest Car Insurance Rates for Immigrants in Baltimore? (FAQ)
• Car Insurance: When not to Skimp (BankRate.com)
• Property Damage Coverage (Liberty Mutual)