How many times have you told yourself to find cheaper Volvo V50 insurance in Chicago? Locating better insurance prices for your Volvo V50 in Illinois could be an all-consuming task, but you can follow our car insurance buying tips to make it easier. There is a right way and a wrong way to find car insurance online so you're going to learn the best way to get price quotes for your Volvo and find the cheapest rates.
A recent survey discovered that 70% of consumers have stayed with the same insurance company for well over three years, and just under half have never compared rates with other companies. Chicago drivers could save 40% every year by just shopping around, but they just don't understand the actual amount they would save if they just switched companies.
You should make it a habit to compare premium rates before your next renewal since prices change quite often. Even if you think you had the lowest rates on Volvo V50 insurance in Chicago on your last policy other companies may now be cheaper. Block out anything you think you know about car insurance because you're going to learn the fastest way to save money, get proper coverage and the best rates.
Most major insurance companies such as Allstate and Progressive allow consumers to get coverage prices from their websites. Getting online rates for Volvo V50 insurance in Chicago doesn't take a lot of time because it's just a matter of typing in the coverages you want into the quote form. Behind the scenes, their rating system will order your driving and credit reports and provides a quote based on many factors.
Using the web to get quotes for Volvo V50 insurance in Chicago makes comparing rates easy, and it is imperative to compare as many rates as possible if you are searching for the most affordable car insurance rates.
To quickly get comparison pricing now, take a look at the companies shown below. To compare your current rates, we recommend you complete the form with coverages and limits exactly as they are listed on your policy. This way, you will be getting an apples-to-apples comparison for the exact same coverage.
The following companies are our best choices to provide quotes in Chicago, IL. If the list has multiple companies, we suggest you visit several of them to get the best price comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $208 | $368 | $268 | $16 | $80 | $940 | $78 |
| V50 AWD T5 R-Design | $218 | $566 | $294 | $18 | $88 | $1,184 | $99 |
| Get Your Own Custom Quote Go | |||||||
Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Estimates do not factor in vehicle location which can decrease or increase rates substantially.
Accidents and violations increase rates
The information below demonstrates how traffic citations and fender-benders impact Volvo V50 premium costs for each different age group. Data assumes a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.
Get cheaper Volvo V50 insurance rates in Chicago
Auto insurance is easily one of your largest bills, but you might find some hidden discounts that can dramatically reduce your bill. Some discounts will apply at quote time, but some may not be applied and must be inquired about before you will receive the discount.
- Air Bag Discount - Options like air bags or motorized seat belts may get savings of up to 25% or more.
- Theft Prevention Discount - Cars with anti-theft systems can help prevent theft and earn discounts up to 10% off your Chicago car insurance quote.
- Cautious Driver Discounts - Drivers who avoid accidents may save up to 50% more than less cautious drivers.
- Membership in Organizations - Being in a qualifying organization could earn you a nice discount on your next renewal.
- Telematics Devices - Drivers that enable driving data collection to scrutinize their driving habits by using a telematics device like Allstate's Drivewise might see lower rates if they show good driving skills.
- Government Employees - Active or retired federal employment could cut as much as 10% off with a few auto insurance companies.
- Driver Education Discount - It's a good idea to have your young drivers enroll and complete driver's education as it can save substantially.
It's important to note that some credits don't apply to the overall cost of the policy. Most only cut specific coverage prices like comprehensive or collision. Just because you may think you could get a free auto insurance policy, companies wouldn't make money that way. Any amount of discount will definitely reduce the premium cost.
A few of the larger companies and their offered discounts can be found below.
- Progressive includes discounts for good student, continuous coverage, online quote discount, multi-policy, and homeowner.
- The Hartford may include discounts for bundle, driver training, defensive driver, good student, and vehicle fuel type.
- Mercury Insurance offers discounts including good driver, age of vehicle, good student, annual mileage, multi-policy, and accident-free.
- GEICO discounts include daytime running lights, seat belt use, defensive driver, anti-theft, multi-policy, military active duty, and good student.
- AAA has discounts for anti-theft, multi-policy, education and occupation, good driver, pay-in-full, and multi-car.
- State Farm may have discounts that include driver's education, multiple autos, anti-theft, multiple policy, defensive driving training, and safe vehicle.
When getting a coverage quote, ask each company or agent which discounts can lower your rates. Some discounts listed above may not apply to policyholders in Chicago. If you would like to view companies with discount auto insurance rates in Illinois, click here to view.
When to have guidance from an insurance agency
Many drivers would prefer to buy from a licensed agent and that is OK! Agents can help you build your policy and will help you if you have claims. One of the best bonuses of comparing car insurance online is that you can obtain the lowest rates and still choose a local agent.
Upon completion of this simple form, the quote information is transmitted to local insurance agents who will gladly provide quotes for your coverage. You won't even need to visit any agencies as quotes are delivered immediately to your email address. If you have a need to compare prices from a specific insurance company, just search and find their rate quote page and submit a quote form there.
Finding the right provider requires more thought than just a cheap quote. Some important questions to ask are:
- Do you qualify for any additional discounts?
- Which members of your family are coverage by the policy?
- Can they provide you with a list of referrals?
- Does the agency support the community they serve?
- Can you choose the body shop in case repairs are needed?
- Will the company cover a rental car if your car is getting fixed?
Why you need Volvo vehicle insurance in Illinois
Even though it's not necessarily cheap to insure a Volvo in Chicago, paying for auto insurance is required by state law in Illinois and it also provides benefits you may not be aware of.
- Most states have mandatory liability insurance requirements which means state laws require specific limits of liability insurance coverage if you want to drive legally. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your vehicle has a loan, most lenders will make it mandatory that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If coverage lapses or is canceled, the lender may insure your Volvo at a much higher premium rate and require you to reimburse them for the expensive policy.
- Insurance protects both your car and your personal assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than cancel out the cost, particularly for liability claims. But the average American driver is currently overpaying as much as $869 every year so we recommend shopping around once a year at a minimum to ensure rates are inline.
The coverage is in the details
Understanding the coverages of auto insurance aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement.
Liability coverages
Liability coverage can cover damage or injury you incur to a person or their property in an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see values of 20/40/15 that means you have $20,000 bodily injury coverage, a total of $40,000 of bodily injury coverage per accident, and a limit of $15,000 paid for damaged property.
Liability insurance covers claims like legal defense fees, loss of income, attorney fees and pain and suffering. How much liability coverage do you need? That is a personal decision, but consider buying higher limits if possible. Illinois state law requires minimum liability limits of 20/40/15 but it's recommended drivers buy more coverage.
Uninsured or underinsured coverage
Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your Volvo V50.
Since many Illinois drivers carry very low liability coverage limits (20/40/15), it only takes a small accident to exceed their coverage. That's why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Medical expense coverage
Coverage for medical payments and/or PIP kick in for short-term medical expenses such as X-ray expenses, nursing services, hospital visits and ambulance fees. The coverages can be utilized in addition to your health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Auto collision coverage
Collision coverage pays for damage to your V50 caused by collision with an object or car. A deductible applies then your collision coverage will kick in.
Collision coverage pays for things like damaging your car on a curb, hitting a parking meter, hitting a mailbox and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It's also possible to increase the deductible on your V50 in order to get cheaper collision rates.
Comprehensive protection
This coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as theft, a broken windshield, damage from flooding, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum amount you'll receive from a claim is the actual cash value, so if the vehicle's value is low it's probably time to drop comprehensive insurance.
Be persistent to save money
Affordable Volvo V50 insurance in Chicago is possible on the web as well as from independent agents in Chicago, and you need to comparison shop both to get a complete price analysis. Some insurance companies may not have the ability to get a quote online and many times these smaller companies only sell through independent agencies.
We just presented many ways to reduce Volvo V50 insurance rates online in Chicago. It's most important to understand that the more quotes you get, the better your chances of lowering your car insurance rates. Consumers could even find that the lowest priced insurance comes from a lesser-known regional company.
People leave their current company for a number of reasons such as extreme rates for teen drivers, poor customer service, policy cancellation or denial of a claim. It doesn't matter what your reason, finding a new company can be easier than you think.
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- Who Has the Cheapest Auto Insurance Quotes for Homeowners in Chicago? (FAQ)
- Who Has the Cheapest Chicago Auto Insurance for Teenagers? (FAQ)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Shopping for a Safe Car (Insurance Information Institute)