It’s safe to assume that car insurance companies want to keep your business as long as possible. Consumers who shop around annually are very likely to buy a different policy because they have good chances of finding a lower-priced company. A survey found that people who regularly compared price quotes saved over $70 a month as compared to drivers who never shopped around for cheaper prices.
If finding the cheapest price on Volvo XC70 insurance is your ultimate target, understanding how to get free comparison quotes and analyze coverage rates can help you succeed in finding affordable rates.
The recommended way to find lower priced Volvo XC70 insurance is to start doing a yearly price comparison from providers that insure vehicles in Memphis. You can compare prices by following these steps.
- Step 1: Take a little time to learn about how your policy works and the changes you can make to keep rates low. Many factors that cause rate increases such as traffic tickets, fender benders, and a low credit rating can be improved by being financially responsible and driving safely.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like GEICO and Allstate, while independent agents can quote rates for a wide range of insurance providers.
- Step 3: Compare the new rate quotes to your existing policy and determine if cheaper XC70 coverage is available in Memphis. If you can save some money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
A good piece of advice is that you’ll want to compare the same level of coverage on each price quote and and to analyze as many companies as you can. Doing this helps ensure an accurate price comparison and many rates to choose from.
When quoting car insurance, remember that comparing all the rates in your area increases the chance that you will find lower pricing.
The providers in the list below can provide price quotes in Memphis, TN. If you want to find cheap auto insurance in Memphis, we suggest you visit two to three different companies to get the most competitive price.
Cheaper Memphis car insurance quotes with discounts
Properly insuring your vehicles can get expensive, but you may be missing some discounts to cut the cost considerably. Certain credits will be shown at the time you complete a quote, but a few must be specifically requested before you will receive the discount. If you do not double check each discount you deserve, you’re just leaving money on the table.
- Student Discounts – A discount for being a good student can save 20 to 25%. You can use this discount normally well after school through age 25.
- Bundle and Save – If you can combine your home and auto policy and place coverage with the same company you may earn as much as 10 to 15 percent.
- New Vehicle Savings – Buying a new car model can save up to 30% compared to insuring an older model.
- Defensive Driver Discounts – Completing a defensive driver class could possibly earn you a 5% discount and easily recoup the cost of the course.
- Low Mileage Discounts – Low mileage vehicles may enable drivers to earn slightly better car insurance rates than normal.
- Data Collection Discounts – People who choose to allow driving data submission to analyze their driving habits remotely such as Progressive’s Snapshot could possibly reduce rates if they show good driving skills.
- No Accidents – Good drivers with no accidents pay much less as opposed to policyholders that have many claims.
It’s important to understand that most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like comprehensive or collision. Despite the appearance that adding up those discounts means a free policy, that’s just not realistic. Any amount of discount will positively reduce your policy cost.
The chart below visualizes the comparison of Volvo XC70 premium costs with and without discounts applied to the rates. The premium estimates are based on a male driver, no driving violations, no at-fault accidents, Tennessee 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, claim-free, multi-car, safe-driver, marriage, and homeowner discounts applied.
Large car insurance companies and a partial list of their discounts can be read below.
- GEICO includes discounts for military active duty, driver training, membership and employees, seat belt use, good student, multi-policy, and defensive driver.
- MetLife has savings for claim-free, accident-free, defensive driver, good student, multi-policy, good driver
- State Farm may include discounts for student away at school, good driver, anti-theft, driver’s education, safe vehicle, good student, and accident-free.
- Progressive offers discounts including multi-policy, homeowner, good student, multi-vehicle, continuous coverage, online quote discount, and online signing.
- Mercury Insurance has discounts for type of vehicle, multi-car, good student, anti-theft, professional/association, good driver, and age of vehicle.
- 21st Century offers discounts for early bird, driver training, 55 and older, theft prevention, air bags, and good student.
- Allstate may have discounts that include anti-lock brakes, economy car, multi-policy, good payer, farm vehicle, new car, and FullPay discount.
Double check with every insurance company the best way to save money. All car insurance discounts may not apply in every state. To see insurance companies that can offer you the previously mentioned discounts in Tennessee, click here.
Rates and detailed analysis
The coverage information displayed next highlights a range of insurance coverage prices for Volvo XC70 models. Understanding more about how auto insurance policy rates are calculated can be valuable when making decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XC70 3.2 AWD Station Wagon||$136||$236||$314||$18||$94||$798||$67|
|XC70 T6 AWD 4-Dr||$136||$272||$314||$18||$94||$834||$70|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in vehicle garaging location which can impact rates noticeably.
The information below shows how different deductible levels and can impact Volvo XC70 yearly insurance costs for each different age group. The prices are based on a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
Impact of citations and accidents on insurance rates
The example below demonstrates how citations and at-fault collisions impact Volvo XC70 auto insurance costs for different ages of insureds. The data is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
Age, gender, and Volvo XC70 insurance
The diagram below illustrates the comparison of Volvo XC70 insurance premiums for male and female drivers. The data assumes no violations or claims, comprehensive and collision coverage, $500 deductibles, marital status is single, and no additional discounts are factored in.
Should you buy full coverage?
The example below shows the comparison of Volvo XC70 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. Data assumes no claims, a clean driving record, $250 deductibles, single status, and no policy discounts are applied.
Guidelines for dropping full coverage
There is no definitive formula for excluding comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s say your Volvo XC70 settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after you pay the deductible. If premiums are more than $200 annually to have full coverage, then you might want to think about dropping full coverage.
There are some situations where dropping physical damage coverage is not a good plan. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.
When should I talk to an insurance agency?
A lot of people still like to get professional advice from a licensed agent and doing that can be a smart decision One of the best bonuses of getting free rate quotes online is you can get better rates and still have a local agent. Buying from and supporting local agents is especially important in Memphis.
To make it easy to find an agent, after completing this form (opens in new window), your information is immediately sent to insurance agents in Memphis who will give competitive quotes and help you find cheaper coverage. You won’t need to find an agent since price quotes are sent immediately to your email address. You can get cheaper auto insurance rates AND an agent nearby. If you want to compare prices from one company in particular, don’t hesitate to visit that company’s website and fill out the quote form the provide.
If you are wanting to purchase auto insurance from local Memphis agents, there are two types of insurance agents to choose from. Agencies in Memphis are classified as either exclusive or independent agents depending on their company appointments.
Independent Agencies or Brokers
Independent agencies are not required to write business for one company so they can insure your vehicles with any number of different companies and find you cheaper rates. If prices rise, they can switch companies in-house and you stay with the same agent.
When comparing rate quotes, you absolutely need to get quotes from at a minimum one independent agency so that you have a good selection of quotes to compare. Many can place coverage with less well-known companies who may have lower rates.
Listed below are Memphis independent agencies that may be able to give you free price quotes.
- Peterson Insurance Services, Inc.
8046 N Brother Blvd #101 – Memphis, TN 38133 – (901) 386-4777 – View Map
- Farris Evans Insurance Agency Inc
1568 Union Ave – Memphis, TN 38104 – (901) 274-5424 – View Map
- First Reliable Insurance Agency
5495 Winchester Rd Suite 3 – Memphis, TN 38115 – (901) 362-6052 – View Map
Exclusive agents can only provide one company’s prices such as Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot place coverage with different providers so they really need to provide good service. Exclusive agents are very knowledgeable on sales techniques which aids in selling service over price. Drivers often buy from the same agent for years mainly due to loyalty to the company and strong financial ratings.
Below is a short list of exclusive agencies in Memphis willing to provide comparison quotes.
- Farmers Insurance – April Gainer
4466 Elvis Presley Blvd #247 – Memphis, TN 38116 – (901) 398-7200 – View Map
- Allstate Insurance: Angie Hooten-Hughes
6803 Summer Ave – Memphis, TN 38134 – (901) 373-6060 – View Map
- Allstate Insurance: Josh Roman
579 S Perkins Rd – Memphis, TN 38117 – (901) 683-8600 – View Map
Picking the best car insurance agent shouldn’t rely on just the price. A good agent in Memphis will have answers to these questions.
- Are there any discounts that you might be missing?
- How often do they review coverages?
- Which members of your family are coverage by the policy?
- Does the quote include credit and driving reports?
- What is the financial rating for the quoted company?
- Are claims handled at the agent’s location?
- Will a damage claim use OEM or aftermarket replacement parts?
- How are they compensated?
When quoting and choosing insurance from an agent or online, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.
For example, these questions might help in determining if your situation may require specific advice.
- Who is covered when they drive my Volvo XC70?
- What policy terms are available?
- Is there coverage for injuries to my pets?
- What is an SR-22 filing?
- What if an uninsured driver hits me?
- Can my babysitter drive my car?
- Are all vehicle passengers covered by medical payments coverage?
- Does rental coverage apply when I am renting a car?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Should I sign the liability waiver when renting a car?
If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form.
Auto insurance does more than just repair your car
Even though it can be expensive, maintaining insurance serves several important purposes.
First, just about all states have mandatory insurance requirements which means you are required to buy specific limits of liability insurance if you don’t want to risk a ticket. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if your vehicle has a loan, it’s most likely the lender will require you to have insurance to ensure they get paid if you total the vehicle. If the policy lapses, the bank may buy a policy for your Volvo for a lot more money and force you to pay for it.
Third, insurance protects both your assets and your car. It will also cover many types of medical costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying auto insurance are without a doubt worth the cost, especially for larger claims. The average driver in Tennessee overpays as much as $800 each year so it’s very important to do a rate comparison each time the policy renews to save money.
Specific coverage details
Learning about specific coverages of your policy helps when choosing appropriate coverage and the correct deductibles and limits. Auto insurance terms can be impossible to understand and even agents have difficulty translating policy wording.
Uninsured or underinsured coverage
This coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Volvo XC70.
Due to the fact that many Tennessee drivers carry very low liability coverage limits (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Normally the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like a broken windshield, fire damage, damage from getting keyed and damage from flooding. The most a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Collision coverage covers damage to your XC70 resulting from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like crashing into a ditch, damaging your car on a curb and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Another option is to raise the deductible on your XC70 to get cheaper collision coverage.
Liability coverage provides protection from damage or injury you incur to people or other property that is your fault. It protects you from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, 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 25/50/15 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage pays for things such as court costs, medical services, bail bonds, funeral expenses and attorney fees. How much coverage you buy is up to you, but it’s cheap coverage so purchase higher limits if possible. Tennessee requires drivers to carry at least 25/50/15 but drivers should carry higher limits.
The illustration below shows why buying the state minimum limits may not be enough coverage.
Medical expense coverage
Medical payments and Personal Injury Protection insurance reimburse you for bills for chiropractic care, rehabilitation expenses, EMT expenses, hospital visits and surgery. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay
Quote more and you will save more
People leave their current company for any number of reasons including lack of trust in their agent, extreme rates for teen drivers, delays in paying claims and high rates after DUI convictions. It doesn’t matter what your reason, finding a new company can be less work than you think.
More affordable auto insurance in Memphis is possible both online and with local Memphis insurance agents, and you should compare price quotes from both to get a complete price analysis. Some insurance providers may not have online price quotes and these regional carriers sell through independent insurance agencies.
We just presented a lot of techniques to lower your Volvo XC70 insurance prices in Memphis. It’s most important to understand that the more price quotes you have, the better your chances of lowering your rates. Consumers may even find the best prices are with a small local company.
Additional information is located on the following sites:
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Who Has Affordable Memphis Auto Insurance for College Students? (FAQ)
- Who Has Affordable Memphis Auto Insurance for a GMC Sierra? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers with a DUI in Memphis? (FAQ)
- How Much are Car Insurance Quotes for a Chevrolet Silverado in Memphis? (FAQ)
- Alcohol Impaired Driving FAQ (iihs.org)
- What is Gap Insurance? (Insurance Information Institute)