Save Money on Volvo S40 Insurance in Jersey City

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Insurance rates Volvo S40 in Jersey CityThe recommended way to get cheaper auto insurance rates in Jersey City is to compare prices annually from providers in New Jersey.

  1. Get a basic knowledge of how insurance companies determine prices and the factors you can control to lower rates. Many rating factors that cause rate increases like traffic violations and a low credit score can be improved by making minor changes in your lifestyle.
  2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from a single company like Progressive and State Farm, while agents who are independent can provide prices for a wide range of companies. View rates
  3. Compare the new rate quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a better price and change companies, make sure there is no lapse in coverage.
  4. Notify your company or agent to cancel the current policy and submit a down payment along with a completed application to your new carrier. Once the application is submitted, place the new certificate verifying coverage in a readily accessible location in your vehicle.

One key aspect of rate comparisons is to make sure you're comparing the same coverage limits and deductibles on every quote and and to get prices from as many different companies as possible. Doing this enables a level playing field and and a good selection of different prices.

It's an obvious statement that car insurance companies want to keep you from comparing rates. Insureds who shop for lower prices are very likely to switch insurance companies because there is a good probability of finding a lower-priced company. A recent survey found that people who routinely compared rates saved approximately $3,450 over four years compared to those who never compared prices.

If finding the best price on auto insurance in Jersey City is your target objective, then having some knowledge of the best way to quote and compare coverages can save time and money.

If you're already insured or are just looking to switch companies, use these techniques to shop for the lowest rates without sacrificing coverage. Locating the best insurance company for you in Jersey City seems hard but is not really that difficult. Comparison shoppers just have to know the tricks to compare price quotes from many different companies.

Do you qualify for discounts on Volvo S40 insurance in Jersey City?

Some insurers don't always publicize every discount very clearly, so below is a list some of the best known and the harder-to-find discounts that you can inquire about if you buy Jersey City car insurance online.

  • Senior Citizen Discount - Seniors may qualify for a small discount on rates.
  • Low Mileage - Driving fewer miles can earn substantially lower rates.
  • First Accident Forgiveness - This isn't a discount exactly, but a handful of insurance companies will turn a blind eye to one accident before your rates go up if you are claim-free for a certain period of time.
  • Discounts for Responsible Drivers - Drivers who avoid accidents could pay up to 40% less than their less cautious counterparts.
  • Anti-lock Brakes - Cars with ABS braking systems or traction control can reduce accidents and qualify for as much as a 10% discount.
  • Payment Discounts - If you can afford to pay the entire bill rather than paying in monthly installments you can avoid the installment charge.
  • Accident-Free Discounts - Good drivers with no accidents pay less in comparison to drivers with a long claim history.
  • Driver's Education for Students - Teen drivers should successfully take a driver's education course as it will make them better drivers and lower rates.
  • Employee of Federal Government - Employees or retirees of the government may qualify for a discount when you quote Jersey City car insurance depending on your company.
  • Discount for Multiple Policies - If you insure your home and vehicles with one company you could get a discount of over 10 percent off each policy depending on the company.

Keep in mind that most discounts do not apply to the entire policy premium. Most cut individual premiums such as liability, collision or medical payments. Even though the math looks like all the discounts add up to a free policy, it's just not the way it works.

The example below visualizes the comparison of Volvo S40 car insurance costs with and without discounts being applied to the rates. The information is based on a female driver, no accidents or driving violations, New Jersey state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, claim-free, multi-car, and homeowner discounts applied.

Insurance companies that may include most of these discounts include:

When comparing rates, check with every insurance company which discounts you qualify for. Some of the discounts discussed earlier may not apply in Jersey City.

The companies shown below offer price quotes in New Jersey. To locate the best car insurance in New Jersey, we recommend you visit several of them in order to find the most competitive rates.

Volvo S40 insurance rate analysis

The premium table shown next highlights detailed analysis of coverage costs for Volvo S40 models. Being aware of how policy premiums are calculated can be useful when making smart choices when selecting a policy.

Volvo S40 Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $294 $582 $544 $32 $162 $1,614 $135
S40 T5 $294 $582 $544 $32 $162 $1,614 $135
S40 T5 AWD R-Design $294 $582 $544 $32 $162 $1,614 $135
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Estimates do not factor in vehicle garaging location which can increase or decrease price quotes considerably.

Rate comparison for different deductibles

A question often asked by Jersey City drivers is at what level do you set your deductibles. The following tables determine the rate differences when you buy lower versus higher comp and collision deductibles. The first rate table uses a $100 deductible and the second set of rates uses a $1,000 deductible.

Volvo S40 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $466 $880 $480 $28 $144 $2,023 $169
S40 T5 $466 $880 $480 $28 $144 $2,023 $169
S40 T5 AWD R-Design $466 $880 $480 $28 $144 $2,023 $169
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Volvo S40 insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $258 $464 $480 $28 $144 $1,374 $115
S40 T5 $258 $464 $480 $28 $144 $1,374 $115
S40 T5 AWD R-Design $258 $464 $480 $28 $144 $1,374 $115
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Table data does not factor in zip code location which can impact prices considerably.

Based on the figures above, using a $100 deductible will cost you roughly $54 more each month or $648 every year across all Volvo S40 models than opting for the higher $1,000 deductible. Since you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 17 months between claims, you would probably save some money by selecting a higher deductible.

When should I contact a local insurance agent?

Certain consumers still prefer to sit down and talk to an agent and that is just fine! Professional insurance agents can help determine the best coverages and will help you if you have claims. One of the great benefits of comparing rate quotes online is you may find cheaper rates and still choose a local agent.

Insurance agents in Jersey CityAfter filling out this form (opens in new window), the coverage information is transmitted to local insurance agents who can give free rate quotes to get your business. You don't have to visit any agencies because quoted prices will be sent directly to you. If for some reason you want to get a comparison quote from a specific company, just find their quoting web page and submit a quote form there.

Picking a company should include more criteria than just the premium amount. The questions below may impact your decision as well.

  • Do they assist clients in filing claims?
  • Are there any extra charges for paying monthly?
  • What are their preferred companies if they are an independent agency?
  • Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
  • How long has their agency been in business in Jersey City?
  • Can they give you a list of client referrals?
  • Are they actively involved in the community?

Once you have positive feedback to these questions in addition to an acceptable price estimate, you have narrowed it down to an insurance company that is a good match to service your policy.

It may be expensive, but it's not optional

Even though it's not necessarily cheap to insure a Volvo in Jersey City, auto insurance is not optional due to several reasons.

  • The majority of states have mandatory insurance requirements which means you are required to carry a specific level of liability insurance coverage if you want to drive legally. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you have a loan on your vehicle, almost every bank will have a requirement that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank will be required to insure your Volvo at a much higher premium rate and require you to fork over for it.
  • Insurance protects your car and your assets. It will also pay for medical transport and hospital expenses incurred in an accident. Liability coverage, the one required by state law, will also pay to defend you if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your policy will cover the damage repairs after a deductible is paid.

The benefits of having auto insurance definitely exceed the cost, especially if you ever need it. An average driver in America overpays as much as $810 a year so we recommend shopping around at every renewal to ensure rates are inline.

Car insurance coverage options for a Volvo S40

Having a good grasp of your car insurance policy aids in choosing the right coverages and proper limits and deductibles. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types found on the average car insurance policy.

Liability car insurance - Liability insurance protects you from damages or injuries you inflict on other's property or people in an accident. This insurance protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 15/30/5 that means you have $15,000 bodily injury coverage, a limit of $30,000 in injury protection per accident, and $5,000 of coverage for damaged property.

Liability can pay for things like court costs, medical expenses, repair costs for stationary objects and medical services. How much liability should you purchase? That is a personal decision, but it's cheap coverage so purchase as much as you can afford. New Jersey requires minimum liability limits of 15/30/5 but you should think about purchasing more liability than the minimum.

The chart below demonstrates why the minimum limit may not provide you with enough coverage.

Comprehensive auto coverage - This pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as theft, vandalism and damage from getting keyed. The maximum payout you'll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle's value it's probably time to drop comprehensive insurance.

Medical payments and PIP coverage - Medical payments and Personal Injury Protection insurance reimburse you for bills for hospital visits, EMT expenses and doctor visits. They are often utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

UM/UIM (Uninsured/Underinsured Motorist) coverage - This protects you and your vehicle's occupants when the "other guys" either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants and also any damage incurred to your Volvo S40.

Since a lot of drivers carry very low liability coverage limits (which is 15/30/5), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.

Collision coverage - This covers damage to your S40 resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like driving through your garage door, sideswiping another vehicle and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Drivers also have the option to increase the deductible on your S40 to save money on collision insurance.

Shop smart and save

We've covered a lot of information how to reduce Volvo S40 insurance premium rates online in Jersey City. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the lowest priced insurance comes from a lesser-known regional company. Smaller companies may often insure only within specific states and give better rates as compared to the big name companies such as Progressive and GEICO.

When shopping online for insurance, it's a bad idea to buy less coverage just to save a little money. There have been many cases where drivers have reduced full coverage only to discover later that the small savings ended up costing them much more. The proper strategy is to purchase a proper amount of coverage for the lowest price, but do not skimp to save money.

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