Affordable Insurance for a Volvo S40 in Oakland

Discount Volvo S40 insuranceIf you want to find the absolute lowest rates, then the best way to get the cheapest auto insurance rates is to start doing an annual price comparison from providers in Oakland. You can shop around by following these guidelines.

A crucial key to this process is that you use the same amount of coverage on every price quote and and to get rates from every company you can. Doing this enables a fair price comparison and the most accurate and complete price analysis.

It’s a known fact that auto insurance companies don’t want their customers to go rate shopping. People who shop around for cheaper price quotes will, in all likelihood, buy a different policy because there is a good chance of finding a policy with better rates. A study showed that people who routinely shopped around saved an average of $865 annually compared to other drivers who never compared rates.

If finding the best price on auto insurance in Oakland is why you’re reading this, knowing how to get price quotes and compare insurance coverage can save money and time.

Smart Consumers Save on Insurance

Many things are considered when you get your auto insurance bill. Some are pretty understandable like your driving record, although others are less apparent such as your marital status or how safe your car is.

Just remember that comparing more quotes helps improve the odds of finding more affordable rates.

The providers in the list below can provide price quotes in California. In order to find cheap car insurance in Oakland, we suggest you visit as many as you can in order to find the most competitive rates.

Insurance rate breakdown

The data table displayed next showcases estimates of insurance rates for Volvo S40 models. Knowing how policy premiums are figured can be useful when making decisions on the best policy to buy.

Volvo S40 Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $430 $810 $442 $26 $132 $1,840 $153
S40 T5 $430 $810 $442 $26 $132 $1,840 $153
S40 T5 AWD R-Design $430 $810 $442 $26 $132 $1,840 $153
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rates do not factor in specific Oakland garaging location which can decrease or increase coverage rates greatly.

Deductible analysis

One of the more difficult decisions when buying insurance is how high should the physical damage deductibles be. The premium rates below may aid in understanding the difference in cost when you select higher and lower deductibles. The first price estimate table uses a $250 deductible and the second pricing table uses a $500 deductible.

Volvo S40 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $386 $678 $442 $26 $132 $1,689 $141
S40 T5 $386 $678 $442 $26 $132 $1,689 $141
S40 T5 AWD R-Design $386 $678 $442 $26 $132 $1,689 $141
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Volvo S40 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $314 $546 $442 $26 $132 $1,460 $122
S40 T5 $314 $546 $442 $26 $132 $1,460 $122
S40 T5 AWD R-Design $314 $546 $442 $26 $132 $1,460 $122
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate information does not factor in your specific Oakland location which can affect prices substantially.

Using the premium rates above, we can conclude that using a $250 deductible will cost you approximately $19 more each month or $228 annually than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 13 months between claims, you would probably save some money if you opt for a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $250 deductibles: $141
Average monthly premium for $500 deductibles (subtract): – $122
Monthly savings from raising deductible: $19
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

The example below highlights how deductible selection and can affect Volvo S40 insurance costs for each different age group. The information is based on a single male driver, full coverage, and no discounts are factored in.

Do you need full coverage?

The diagram below shows the comparison of Volvo S40 yearly insurance costs with liability coverage only compared to full coverage. The rate quotes are based on no driving violations, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are factored in.

Guidelines for eliminating full coverage

There is no exact formula of when to stop paying for full coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s pretend your Volvo S40 settlement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $4,000 after paying your deductible. If it’s costing you more than $400 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are some conditions where only buying liability is not recommended. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not drop full coverage.

Three reasons auto insurance is important

Despite the high cost of buying insurance for a Volvo S40 in Oakland, insurance is required for several reasons.

First, almost all states have mandatory insurance requirements which means you are required to buy a specific minimum amount of liability coverage if you don’t want to risk a ticket. In California 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.

Second, if your S40 has a lienholder, almost every bank will have a requirement that you have comprehensive coverage to guarantee payment of the loan. If you default on your policy, the lender may insure your Volvo for a much higher rate and force you to pay for the much more expensive policy.

Third, insurance safeguards both your assets and your Volvo. It also can pay for all forms of medical expenses that are the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of having auto insurance more than offset the price you pay, especially with large liability claims. Unknowingly, the average driver overpays more than $830 a year so it’s very important to do a rate comparison at every policy renewal to be sure current rates are still competitive.

Companies offer many types of discounts on Volvo S40 insurance in Oakland

Companies don’t always publicize all discounts in an easy-to-find place, so below is a list a few of the more well known and the more hidden savings tricks you should be using when you buy Oakland car insurance online.Discount auto insurance

While discounts sound great, it’s important to understand that most discount credits are not given to the overall cost of the policy. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think it’s possible to get free car insurance, you aren’t that lucky.

The chart below illustrates the difference between Volvo S40 auto insurance costs with and without discounts being applied to the rates. The data assumes a male driver, no claims or driving citations, California state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, claim-free, multi-car, homeowner, and multi-policy discounts applied.

A few of the larger companies and a selection of discounts are:

When comparing rates, check with each company or agent which credits you are entitled to. Discounts may not apply everywhere. To locate providers offering auto insurance discounts in Oakland, click this link.

Compare prices but still have a local neighborhood Oakland car insurance agent

Many people would prefer to sit down and talk to an agent and that can be a great decision One of the great benefits of comparing insurance prices online is that drivers can save money and get better rates and also buy local. Putting coverage with local agencies is especially important in Oakland.

Find insurance agent in OaklandBy using this quick form, the quote information is instantly submitted to local insurance agents in Oakland that can provide free Oakland car insurance quotes for your insurance coverage. There is no need to contact an agency because prices are sent to you. You can find the lowest rates without a big time investment. If you have a need to get a price quote from one company in particular, just search and find their rate quote page and give them your coverage information.

Multiple types of auto insurance agents in Oakland

If you are searching for a reliable insurance agency, it’s important to understand the types of agencies and how they are slightly different. Insurance agents are either independent agents or exclusive agents.

Independent Agents (or Brokers)

These type of agents can quote rates with many companies and that gives them the ability to insure with an assortment of companies and find the cheapest rate. If your premiums go up, they simply switch companies in-house and you don’t have to do anything.

When shopping rates, you need to check rates from several independent insurance agents so that you can do a thorough price comparison. Many write coverage with different regional companies that may have much lower rates than larger companies.

Shown below are independent insurance agencies in Oakland who may provide rate quotes.

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Exclusive Insurance Agents

Agents of this type generally can only insure with one company and some examples include American Family, State Farm, and Allstate. Exclusive agents cannot provide rate quotes from other companies so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on their company’s products and that allows them to sell at a higher price point. Consumers often buy insurance from these agents mainly due to the brand and the convenience of having all coverages with one company.

Listed below is a short list of exclusive agents in Oakland that can give you comparison quotes.

View more Oakland agents

Selecting an insurance agent needs to be determined by more than just the quoted price. Any agent in Oakland should have no problem answering these questions:

Cheap insurance premiums are possible

We just presented many tips how you can find cheap Volvo S40 insurance in Oakland. The key thing to remember is the more quotes you get, the better your comparison will be. You may even be surprised to find that the lowest priced insurance comes from a small local company.

Some insurance companies may not have rates over the internet and these small, regional companies provide coverage only through independent insurance agents. Affordable Volvo S40 insurance in Oakland can be sourced both online in addition to local insurance agencies, and you need to comparison shop both in order to have the best chance of saving money.

While you’re price shopping online, make sure you don’t buy less coverage just to save a little money. There have been many cases where consumers will sacrifice comprehensive coverage or liability limits and discovered at claim time that the savings was not a smart move. Your goal is to purchase plenty of coverage at the best possible price, but do not skimp to save money.

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