Cheap Insurance for a Volvo XC60 in Laredo

It takes a little time, but the best way to save on car insurance rates is to regularly compare price quotes from insurers in Laredo.

1. Take a few minutes and learn about what is in your policy and the changes you can make to keep rates down. Many things that result in higher rates like traffic violations, accidents, and poor credit history can be rectified by making minor changes to your lifestyle.
2. Compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of companies. Get quotes now
3. Compare the new rate quotes to your current policy premium and determine if there is any savings. If you find a better price, make sure there is no lapse between the expiration of your current policy and the new one.
4. Give notification to your current company to cancel your current car insurance policy and submit the application along with any required down payment to the new company. Immediately upon receiving it, put the new proof of insurance certificate in a readily accessible location in your vehicle.

One thing to point out is to use the same deductibles and limits on every quote and to quote with every company you can. Doing this helps ensure an accurate price comparison and the most accurate and complete price analysis.

A recent survey discovered that the vast majority of drivers have remained with the same auto insurance company for a minimum of four years, and 38% of drivers have never compared auto insurance rates at all. Many consumers in Laredo could save roughly 70% a year just by comparing rates, but they don’t believe the large savings they would see if they changed companies.

Buying the cheapest car insurance in Laredo is not that difficult as long as you know where to start. If you currently have car insurance, you will most likely be able to lower your rates using the following tips. But Texas car owners need to have an understanding of how big insurance companies calculate your car insurance rates because it can help you find the best coverage.

Ways to get Volvo XC60 insurance rate quotes in Laredo

When quoting auto insurance, remember that comparing more prices will enable you to find more affordable rates. Some insurance companies are not set up to provide Laredo XC60 insurance quotes online, so it’s important to also get price quotes on coverage from those companies, too.

The following companies are our best choices to provide free quotes in Texas. If you want the best car insurance in Laredo, it’s a good idea that you get rate quotes from several of them to get a more complete price comparison.

Statistics and details

The rate table shown below highlights different coverage costs for Volvo XC60 models. Understanding how auto insurance prices are formulated can aid in making informed coverage decisions.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Prices do not factor in specific location which can impact prices noticeably.

Physical damage deductibles: Should you raise them?

When comparing auto insurance rates, the most common question is which comprehensive and collision deductibles to buy. The rates below can help show the differences in price of buying low and high comp and collision deductibles. The first rate table uses a $100 physical damage deductible and the second price table uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in vehicle garaging location which can modify coverage prices substantially.

We can derive from the above data that using a $100 deductible costs about $27 more each month or $324 every year than quoting the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 15 months between claims, you would come out ahead if you choose the higher deductible.

One thing to be aware of is that raising deductibles to get cheaper rates means you pay more out-of-pocket when you have a claim. That will require some extra savings in the event you have to pay more for the deductible.

The chart below shows how choosing a deductible and can impact Volvo XC60 insurance costs for different age groups of insureds. The data assumes a single male driver, full physical damage coverage, and no additional discounts are factored in.

Volvo XC60 insurance rates: Men versus women

The illustration below compares Volvo XC60 insurance costs for male and female drivers. The prices are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $250 deductibles, marital status is single, and no other discounts are factored in.

Cost of full coverage in Laredo

The illustration below compares Volvo XC60 car insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no violations or accidents, $100 deductibles, marital status is single, and no discounts are applied.

When to eliminate full coverage

There is no set guideline to eliminate full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your Volvo XC60 settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after the policy deductible has been paid. If it’s costing in excess of $500 a year for physical damage coverage, then you may want to consider only buying liability coverage.

There are some cases where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.

Smart Buyers Can Save Money

Many factors are considered when quoting car insurance. Some are obvious such as your driving history, but other criteria are less apparent such as whether you are married or your vehicle rating. A large part of saving on insurance is knowing some of the elements that play a part in calculating your insurance rates. If you have some idea of what determines premiums, this empowers consumers to make smart changes that could help you find cheaper rates.

Listed below are some of the major factors insurance companies consider when setting rates.

• Responsible credit saves on insurance – Credit history can be a huge factor in calculating your premium rate. If your credit score leaves room for improvement, you could pay less to insure your Volvo XC60 by taking the time to improve your credit score. Insureds with excellent credit scores tend to be less risk to insure than drivers who have poor credit scores.
• Never have insurance policy lapses – Having a lapse in insurance coverage is a quick way to increase your renewal premiums. Not only will you pay more, failure to provide proof of insurance can result in a steep fine or even jail time. You may need to provide proof of insurance in the form of an SR-22 filing with the Texas DMV.

• Tickets hurt – Only having one driving citation can increase rates substantially. Careful drivers receive lower rates than bad drivers. Drivers who have careless tickets such as DUI or reckless driving may be required to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to continue driving.

  The information below shows how traffic citations and at-fault collisions can drive up Volvo XC60 yearly insurance costs for different age groups. The premiums are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.

• Stay claim-free and reduce premiums – If you frequently file small claims, you should expect increased rates or even have your policy non-renewed. Insurance companies in Texas give lower rates to policyholders who only file infrequent claims. Insurance coverage is intended for more catastrophic claims.
• Vehicles with better crash test results save money – Cars with high safety ratings tend to be cheaper to insure. Safer cars reduce injuries and any reduction in injury severity means your insurance company pays less which can mean better rates for you.
• Where you call home – Living in small towns and rural areas has it’s advantages when it comes to insurance. Less people living in that area means reduced accidents and lower theft and vandalism rates. Drivers in populated Texas areas have congested traffic and more time behind the wheel. More time commuting translates into higher accident risk.
• Discounts for married drivers – Having a significant other can actually save you money on insurance. Marriage usually means you are less irresponsible and statistics show married drivers tend to have fewer serious accidents.

• Rates are impacted by vehicle performance – The make and model of the car or truck you drive makes a substantial difference in your car insurance bill. Economy passenger models generally receive the lowest base rates, but your final cost has many other factors.

  The following chart is based on a married female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It illustrates Volvo XC60 rates compared to other makes and models that have different risk factors.

• Insurance losses for a Volvo XC60 – Insurers include the past claim history for a vehicle when they set coverage costs for each model. Models that are shown to have higher number or severity of losses will cost more for coverage. The table below illustrates the historical insurance loss data for Volvo XC60 vehicles.

  For each coverage type, the claim amount for all vehicles, without regard to make or model, equals 100. Percentage numbers below 100 suggest losses that are better than average, while percentage values above 100 indicate higher probability of having a loss or larger claims.

  
  

  Insurance Loss Ratings for Volvo XC60 Vehicles

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Volvo XC60 4dr 2WD	79	74	70	60	53	55
  Volvo XC60 4dr 4WD	93	82	75	66	64	57

  BETTER

  AVERAGE

  WORSE

  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Three main reasons to buy auto insurance

Despite the high insurance cost for a Volvo XC60 in Laredo, insuring your vehicle is not optional due to several reasons.

• Almost all states have minimum liability requirements which means you are required to buy specific minimum amounts of liability protection in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a lien on your XC60, it’s guaranteed your bank will make it mandatory that you buy full coverage to guarantee payment of the loan. If you default on your policy, the bank may buy a policy for your Volvo for a lot more money and require you to fork over for the expensive policy.
• Insurance safeguards both your assets and your Volvo. It will also cover medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability insurance will also pay attorney fees if you are sued as the result of your driving. If you have damage to your Volvo as the result of the weather or an accident, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of insuring your car greatly outweigh the cost, particularly for liability claims. Today the average American driver overpays more than $830 a year so it’s very important to do a rate comparison at least once a year to save money.

Ratings for Laredo car insurance companies

Picking the highest-rated car insurance company is difficult considering how many choices drivers have in Laredo. The company ratings listed below could help you choose which insurers you want to consider comparing rates from.

Top 10 Laredo Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Titan Insurance – A+
6. Esurance – A+
7. Progressive – A+
8. The Hartford – A+
9. Allstate – A+
10. Nationwide – A+

Top 10 Laredo Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive