If saving money is your primary concern, then the best way to get more affordable Volvo XC60 insurance in Raleigh is to make a habit of regularly comparing prices from different companies in North Carolina. Prices can be compared by following these steps.
Step 1: Spend some time learning about what coverages are included in your policy and the steps you can take to lower rates. Many rating criteria that result in higher prices such as traffic citations, accidents, and your credit history can be improved by being financially responsible and driving safely.
Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive or State Farm, while independent agents can provide prices from many different companies.
Step 3: Compare the new rates to your existing policy and see if you can save money. If you find a better price, ensure there is no coverage lapse between policies.
Step 4: Tell your current company to cancel your current car insurance policy. Submit a signed application and payment to the new insurer. Once the paperwork is finalized, place the new proof of insurance certificate in an easily accessible location in your vehicle.
One important bit of advice is to try to use the same amount of coverage on every price quote and and to get rate quotes from as many companies as you can. This provides an accurate price comparison and the best rate selection.
Unbelievable but true, the vast majority of consumers have purchased from the same company for at least four years, and approximately 38% of consumers have never even compared quotes to find lower-cost rates. Most drivers in North Carolina can save approximately $100 each year, but most undervalue the benefits if they swap their current policy for a cheaper one.
Choosing the best rates in Raleigh is really quite simple as long as you have a good starting point. If you are already insured, you will surely be able to shop for the lowest rates using the concepts you’re about to learn. Drivers only need an understanding of the most efficient way to find the lowest price over the internet.
Volvo XC60 insurance quotes comparison
Reducing your insurance rates is not rocket science. Consumers just need to spend a few minutes comparing rates from online providers.
The car insurance companies shown below are our best choices to provide free rate quotes in Raleigh, NC. In order to find cheap auto insurance in Raleigh, NC, we recommend you visit two to three different companies to get the best price comparison.
Facts and figures for Volvo XC60 insurance
The rate table displayed next highlights a range of insurance prices for Volvo XC60 models. Understanding how auto insurance premiums are figured can assist in making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $238 | $476 | $286 | $16 | $86 | $1,102 | $92 |
| XC60 3.2 AWD | $268 | $476 | $286 | $16 | $86 | $1,132 | $94 |
| XC60 T6 AWD AWD | $268 | $560 | $286 | $16 | $86 | $1,216 | $101 |
| XC60 T6-R AWD AWD | $300 | $560 | $286 | $16 | $86 | $1,248 | $104 |
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Premium costs do not factor in your specific Raleigh location which can alter price quotes noticeably.
Impact of age and gender on auto insurance rates
The chart below illustrates the difference between Volvo XC60 premium costs for male and female drivers. The premiums are based on no claims or violations, full coverage, $500 deductibles, drivers are single, and no discounts are applied to the premium.
Full coverage versus liability-only in Raleigh
The illustration below illustrates the difference between Volvo XC60 auto insurance costs with full coverage and liability only. Data assumes no claims or driving violations, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
When to drop full coverage
There is no clear-cut rule for eliminating comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Volvo XC60 book value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after the deductible is paid. If premiums are more than $400 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some cases where eliminating full coverage is not a good idea. If you haven’t paid off your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Informed Decisions Result in Lower Insurance Rates
The best way to find cheaper car insurance is to take a look at the factors that aid in calculating the rates you pay for car insurance. If you know what determines base rates, this empowers consumers to make smart changes that will entitle you to lower rates. Lots of factors are used in the calculation when you get your auto insurance bill. Some are obvious such as traffic violations, although others are less obvious such as whether you are married or how financially stable you are.
The list below includes some of the factors used by your company to calculate your premiums.
- Discounts for auto and home policies – Many insurance companies afford discounts to buyers that have more than one policy in the form of a multi-policy discount. This can amount to five, ten or even twenty percent. Even if you already get this discount, you may still want to check prices from other companies to help ensure you have the lowest rates.
- Better credit means lower prices – Having a bad credit score is a big factor in determining what you pay. So if your credit could use some work, you could potentially save money when insuring your Volvo XC60 if you improve your credit rating. Consumers who have high credit ratings tend to be better drivers and file fewer claims than drivers who have bad credit.
- Marriage discount – Having a spouse actually saves money when buying car insurance. It may mean you are more mature and responsible and it’s proven that being married results in fewer claims.
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Better drivers pay less – Good drivers have lower premiums compared to bad drivers. Even one speeding ticket or other violation can boost insurance rates forty percent or more. Drivers who have gotten multiple citations like reckless driving or DUI may find that they have to to file a SR-22 with their state in order to continue driving.
The example below illustrates how violations and at-fault claims can increase Volvo XC60 auto insurance rates for different age groups of insureds. The data assumes a married male driver, full coverage, $100 deductibles, and no additional discounts are factored in.
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Insurance loss probability for a Volvo XC60 – Auto insurance companies factor in historical loss data to help determine the price you pay. Vehicles that the data shows to have a trend towards higher claims will have higher premium rates.
The table below shows the collected loss data for Volvo XC60 vehicles. For each policy coverage type, the claim probability for all vehicles as a whole is set at 100. Values that are 100 or less suggest a positive loss record, while percentages above 100 point to more losses or tendency to have higher losses.
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 BETTERAVERAGEWORSEData Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three reasons to insure your XC60
Despite the fact that auto insurance is not cheap in Raleigh, auto insurance is required in North Carolina but also provides important benefits.
- Almost all states have minimum liability requirements which means state laws require a minimum amount of liability coverage in order to be legal. In North Carolina 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 your Volvo has a lienholder, most banks will require that you have comprehensive coverage to protect their interest in the vehicle. If the policy lapses, the bank may buy a policy for your Volvo at a much higher rate and require you to fork over for the expensive policy.
- Auto insurance preserves your Volvo and your assets. It will also reimburse you for many types of medical costs for you, any passengers, and anyone 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 you have damage to your Volvo as the result of the weather or an accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance are definitely more than the cost, especially when you need to use it. Unknowingly, the average driver is wasting up to $865 each year so you should quote and compare rates at every renewal to ensure rates are competitive.