2020 Volvo XC60 Insurance Cost in 2024 – 6 Tips to Save

Trying to find the cheapest insurance rates for your Volvo XC60? Are you at wits end from scraping nickels together each month for insurance? Your situation is no different than many other drivers. Drivers have many car insurance companies to pick from, and although it’s nice to have multiple companies, having more insurance companies makes it harder to compare rates.

Choosing the best insurance company for you is not that difficult. If you currently have car insurance, you will be able to reduce your rates substantially using these methods. Drivers only need an understanding of the tricks to shop on the web.

Earn discounts on auto insurance

Car insurance companies don’t always publicize every available discount very clearly, so the list below gives a summary of a few of the more well known as well as the least known credits available to bring down your rates.

• Paper-free Discount – Certain companies give back up to $50 simply for signing on your computer.
• Early Renewal Discounts – A few companies offer discounts for switching to them early. Ten percent is about the average savings.
• Early Payment Discounts – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
• Passive Restraints and Air Bags – Factory options such as air bags or motorized seat belts can get savings of 25 to 30%.
• Theft Prevention System – Anti-theft and alarm system equipped vehicles can help prevent theft and will qualify for a discount on a insurance quote.
• Senior Discount – If you qualify as a senior citizen, you can get a discount up to 10% on XC60 insurance.

One thing to note about discounts is that most of the big mark downs will not be given to the entire policy premium. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think it’s possible to get free car insurance, you’re out of luck. But any discount will reduce the amount you have to pay.

The best auto insurance companies and some of their more popular discounts are detailed below.

• Progressive has savings for continuous coverage, good student, homeowner, online quote discount, and online signing.
• Farmers Insurance discounts include pay in full, homeowner, teen driver, youthful driver, switch companies, business and professional, and early shopping.
• Farm Bureau offers discounts for good student, safe driver, youthful driver, multi-policy, and renewal discount.
• State Farm has discounts for anti-theft, good driver, multiple policy, Drive Safe & Save, student away at school, defensive driving training, and accident-free.
• GEICO may include discounts for anti-lock brakes, emergency military deployment, military active duty, good student, driver training, and seat belt use.
• SAFECO includes discounts for teen safe driver, anti-lock brakes, homeowner, drive less, safe driver, and anti-theft.
• Liberty Mutual offers discounts including teen driver discount, new move discount, hybrid vehicle, new vehicle discount, preferred payment discount, and multi-car.

Before purchasing a policy, check with every company which credits you are entitled to. A few discounts might not be offered on policies everywhere. To see providers that offer discounts, enter your zip code here.

Tailor your car insurance coverage to you

When it comes to choosing proper insurance coverage, there really is no one size fits all plan. Each situation is unique and your policy should reflect that. For instance, these questions may help you determine whether you will benefit from professional help.

• I have good health insurance, so how much medical payments coverage do I need?
• Is pleasure use cheaper than using my 2020 Volvo XC60 to commute?
• Should I buy more coverage than the required minimum liability coverage?
• Why do I need rental car insurance?
• What if I owe more than I can insure my car for?
• Am I covered when driving in Canada or Mexico?
• Am I covered if my car is in a flood?
• Will I be non-renewed for getting a DUI or other conviction?
• Is my dog or cat covered if injured in an accident?

If you can’t answer these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out your zip code. It only takes a few minutes and can provide invaluable advice.

Learn about car insurance coverages for a 2020 Volvo XC60

Understanding the coverages of a car insurance policy aids in choosing the right coverages for your vehicles. Car insurance terms can be ambiguous and reading a policy is terribly boring. Below you’ll find typical coverage types found on most car insurance policies.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your Volvo XC60.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.

Coverage for liability

Liability insurance will cover injuries or damage you cause to people or other property. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged property.

Liability can pay for things such as repair bills for other people’s vehicles, emergency aid, loss of income and court costs. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Coverage for collisions

This coverage pays for damage to your XC60 caused by collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as hitting a mailbox, crashing into a ditch, colliding with another moving vehicle and driving through your garage door. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible in order to get cheaper collision rates.

Comprehensive insurance

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as falling objects, a tree branch falling on your vehicle and theft. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like hospital visits, rehabilitation expenses, surgery, ambulance fees and prosthetic devices. They can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. They cover you and your occupants as well as being hit by a car walking across the street. PIP is not universally available and may carry a deductible

One last thing about your coverage

More affordable car insurance is possible on the web as well as from insurance agents, so you need to shop insurance with both to have the best selection. Some insurance providers may not have rate quotes online and most of the time these regional carriers provide coverage only through independent insurance agencies.

You just read many ways to shop for 2020 Volvo XC60 insurance online. The key thing to remember is the more providers you compare, the higher the chance of saving money. You may be surprised to find that the lowest rates are with a lesser-known regional company. These smaller insurers may only write in your state and offer lower auto insurance rates as compared to the big name companies such as State Farm or Progressive.