It’s a fact that auto insurance companies want to prevent you from shopping around. Drivers who shop around for the cheapest rate are very likely to move their business because there is a great chance of finding coverage at a cheaper rate. Remarkably, a study showed that consumers who shopped around every year saved over $3,450 over four years compared to other drivers who never shopped around for lower prices.
If saving the most money on Volvo S60 insurance is your ultimate goal, then understanding how to shop and compare auto insurance can make it easier to shop your coverage around.
If saving the most money is your goal, then the best way to get low-cost Volvo S60 insurance in Lexington is to start comparing rates regularly from insurance carriers who sell auto insurance in Kentucky.
- First, try to comprehend individual coverages and the factors you can control to prevent high rates. Many rating factors that increase rates such as traffic tickets, fender benders, and poor credit rating can be remedied by improving your driving habits or financial responsibility.
- Second, compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from one company like Progressive or Allstate, while agents who are independent can give you price quotes for a wide range of insurance providers.
- Third, compare the quotes to the price on your current policy and see if there is a cheaper rate. If you can save some money and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide notification to your current company of your intent to cancel your current coverage and submit the application along with any required down payment to your new carrier. When you receive it, safely store the certificate verifying coverage in an accessible location in your vehicle.
The most important part of this process is to use the same amount of coverage on each price quote and and to get rates from as many car insurance companies as possible. Doing this guarantees an apples-to-apples comparison and the best rate selection.
If you have a policy now or need new coverage, you can use this information to buy cheaper car insurance and still get good coverage. Buying the most affordable coverage in Lexington is quite easy. Comparison shoppers just need to learn the best way to quote multiple rates instantly.
Earn discounts on Lexington car insurance
Car insurance is neither fun to buy or cheap, but you might be missing out on some discounts that you may not know about. Some discounts will apply at quote time, but some may not be applied and must be specially asked for in order for you to get them.
- More Vehicles More Savings – Having multiple cars on a single policy can reduce rates for all insured vehicles.
- Federal Employees – Active or retired federal employment could provide a small rate reduction with certain companies.
- Discount for Good Grades – Excelling in school can earn a discount of 20% or more. Many companies even apply the discount to college students up to age 25.
- Cautious Driver Discount – Drivers who avoid accidents could pay up to 40% less than their less cautious counterparts.
- Discounts for Seat Belt Usage – Drivers who require all occupants to buckle their seat belts can save up to 15% off the PIP or medical payment premium.
- Lower Rates for Military – Being on active duty in the military may qualify for rate reductions.
- Fewer Miles Equal More Savings – Low annual miles could be rewarded with slightly better prices than normal.
- Driver’s Ed – Have your child successfully complete driver’s ed class if offered at their school.
- Paperless Signup – Many companies will give you a small discount for buying your policy over the internet.
One thing to note about discounts is that most credits do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as liability, collision or medical payments. If you do the math and it seems like you could get a free car insurance policy, you won’t be that lucky. But all discounts should definitely cut the cost of coverage.
Larger car insurance companies and some of the discounts include:
- GEICO may offer discounts for driver training, five-year accident-free, good student, membership and employees, and seat belt use.
- USAA offers discounts for defensive driver, multi-policy, good student, multi-vehicle, vehicle storage, driver training, and family discount.
- Progressive has discounts for online quote discount, homeowner, good student, continuous coverage, online signing, and multi-policy.
- American Family includes discounts for mySafetyValet, accident-free, multi-vehicle, defensive driver, and early bird.
- Esurance may have discounts that include anti-lock brakes, anti-theft, paid-in-full, renters, good student, claim free, and homeowner.
- Farmers Insurance has savings for mature driver, pay in full, good student, distant student, bundle discounts, and homeowner.
- State Farm offers discounts including multiple autos, good student, anti-theft, Steer Clear safe driver discount, Drive Safe & Save, accident-free, and driver’s education.
Before you buy a policy, ask all the companies to give you their best rates. A few discounts might not be offered in Lexington. If you would like to see a list of insurers that provide some of the discounts listed above in Kentucky, click this link.
The best way to compare rate quotes for Volvo S60 insurance in Lexington is to realize most of the larger companies participate in a system to give you rate quotes. To start a quote, the only thing you need to do is spend a couple of minutes providing details such as if it has an alarm system, your credit rating estimate, whether the vehicles are used for commuting, and coverage limits. That information is instantly provided to many of the top insurers and you will get price comparisons immediately.
If you would like to compare rates now, click here and complete the form.
The following companies provide free quotes in Lexington, KY. If you want cheaper car insurance in Kentucky, we recommend you visit as many as you can in order to get a fair rate comparison.
Smart Consumers Can Lower Their Insurance Costs
Consumers need to have an understanding of some of the elements that help determine the rates you pay for auto insurance. If you understand what determines premiums, this enables you to make decisions that could help you find lower auto insurance prices.
Shown below are some of the most common factors used by your company to calculate your premiums.
Liability coverage claims can be big – Your auto insurance policy’s liability coverage is the coverage that protects you if ever you are responsible for personal injury or accident damage. Liability insurance provides legal defense which can be incredibly expensive. This coverage is very inexpensive when compared with rates for comp and collision, so buy as much as you can afford.
Your address can affect price – Choosing to live in areas with lower population may provide you with better prices when buying auto insurance. Fewer people corresponds to lower accident rates in addition to lower liability claims. People in densely populated areas have more auto accidents and longer commute times. Longer commute distances means higher likelihood of an accident.
Youthful drivers pay more – Mature drivers tend to be more responsible, cost insurance companies less in claims, and receive fewer citations. Teenage drivers tend to be easily distracted with other occupants in the car so they pay higher auto insurance rates.
Cautious drivers pay less – Having a clean driving record impacts your car insurance rates tremendously. Even one driving citation can bump up the cost by twenty percent. Good drivers have lower premiums compared to drivers with tickets. Drivers who have gotten severe violations such as DUI or reckless driving may face state-mandated requirements to submit a SR-22 form with their state in order to prevent their license from being revoked.
Bad credit hurts insurance costs – An insured’s credit score is a large factor in determining what you pay for auto insurance. People with excellent credit scores tend to be less risk to insure as compared to drivers with lower credit scores. If your credit history can use some improvement, you could save money insuring your Volvo S60 by spending a little time repairing your credit.
A auto insurance policy lapse can increase auto insurance rates – Allowing your auto insurance policy to lapse will be a fast way to trigger a rate increase. Not only will you pay more, failure to provide proof of insurance may result in fines or a revoked license. You may need to provide proof of insurance in the form of an SR-22 filing with the Kentucky motor vehicle department.
How many miles do you drive? – The more you drive your Volvo every year the higher your rates will be. A lot of companies charge rates based upon how you use the vehicle. Cars and trucks that are left in the garage can get a lower rate compared to those used for work or business. Verify your auto insurance policy properly reflects the right rating data. An incorrectly rated S60 can result in significantly higher rates.
Insurance loss data for Volvo S60 vehicles – Auto insurance companies study historical loss data when determining insurance costs. Models that the statistics show to have higher loss trends will have higher rates for specific coverages. The information below illustrates the actual insurance loss data for Volvo S60 vehicles.
For each type of coverage, the statistical loss for all vehicles, regardless of make or model, is considered to be 100. Percentages below 100 suggest a better than average loss history, while numbers above 100 point to more losses or a tendency for claims to be larger.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Volvo S60 4dr 2WD | 103 | 85 | 83 | 76 | 72 | 65 |
| Volvo S60 4dr 4WD | 111 | 73 | 90 | 65 | 66 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Everyone needs different car insurance coverages
When quoting and choosing coverage online or from an agent, there is no cookie cutter policy. Every situation is different and a cookie cutter policy won’t apply. For example, these questions can help discover if your situation would benefit from professional advice.
- Is my custom paint covered by insurance?
- Why am I be forced to buy a membership to get insurance from some companies?
- Should I rate my Volvo S60 as pleasure use or commute?
- Is there a penalty for late payment?
- Can I still get insurance after a DUI?
- What is GAP insurance?
- Does my insurance cover damage caused when ticketed for reckless driving?
- What is no-fault insurance?
- Where can I find high-risk insurance?
If you don’t know the answers to these questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.
Independent versus exclusive insurance agents
Many drivers still prefer to have an agent’s advice and we recommend doing that Good agents can point out coverage gaps and help in the event of a claim. A nice benefit of comparing rates online is you can get better rates but also keep your business local. Putting coverage with neighborhood insurance agencies is important particularly in Lexington.
Once you complete this quick form, the quote information is immediately sent to companies in Lexington who will return price quotes to get your business. You won’t even need to drive around due to the fact that quote results will go immediately to your email address. In the event you want to get a comparison quote for a specific company, don’t hesitate to jump over to their website and fill out their quote form.
If you would like to find a local insurance agency, you must know there are a couple different types of agencies that differ in how they can insure your vehicles. Car insurance agencies can be categorized as either exclusive or independent. Both insure your vehicles, but it’s worth learning the differences because it can impact which type of agent you select.
Independent Car Insurance Agencies
Agents that choose to be independent are not required to write business for one company and that enables them to quote your coverage with lots of companies and find you cheaper rates. If prices rise, they simply move the coverage in-house and you stay with the same agent. If you are comparing rate quotes, we recommend you check rates from several independent insurance agents to maximize your price options. Most independent agents also contract with smaller regional carriers that many times have cheaper rates.
The following is a small list of independent insurance agencies in Lexington who may provide pricing information.
- Greater Lexington Insurance Agency, Inc.
1066 Wellington Way – Lexington, KY 40513 – (859) 224-2477 – View Map - Boggs Insurance Agency, Inc.
1353 W Main St # 2 – Lexington, KY 40508 – (859) 977-2055 – View Map - Bray and Oakley Insurance Agency, Inc.
3061 Fieldstone Way – Lexington, KY 40513 – (859) 927-3743 – View Map
Exclusive Insurance Agencies
Exclusive agents are contracted to one company such as AAA, Allstate, and State Farm. These agents are not able to provide prices from multiple companies so keep that in mind. They receive extensive training on their company’s products which helps them compete with independent agents. Some consumers prefer to purchase coverage from exclusives primarily because of high brand loyalty rather than having the cheapest rates.
Listed below are Lexington exclusive agents who can help you get price quotes.
- Russ Tucker – State Farm Insurance Agent
1206 N Broadway – Lexington, KY 40505 – (859) 259-0404 – View Map - Allstate Insurance: Mike Ison
2121 Richmond Rd Ste 145 – Lexington, KY 40502 – (859) 268-8850 – View Map - Dwight McCarty – State Farm Insurance Agent
3620 Walden Dr #211 – Lexington, KY 40517 – (859) 971-0266 – View Map
Finding the right auto insurance agent shouldn’t rely on just the bottom line cost. You should also get answers to these questions.
- If they are an independent agency in Lexington, which companies do they recommend?
- Do they have a Better Business Bureau rating in Lexington?
- What kind of financial rating does the company have?
- Are they full-time agents?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Insurance is not optional in Kentucky
Despite the potentially high cost of Volvo S60 insurance, buying insurance is not optional due to several reasons.
- Almost all states have compulsory liability insurance requirements which means you are required to carry a minimum amount of liability insurance in order to get the vehicle licensed. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your vehicle with a loan, more than likely the lender will require you to have physical damage coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Volvo at a significantly higher premium and require you to pay for it.
- Insurance preserves both your Volvo and your personal assets. Insurance will also pay for all forms of medical expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance will also pay attorney fees if you are sued as the result of your driving. If your Volvo gets damaged, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of buying insurance are without a doubt worth the cost, especially when you need to use it. According to a recent study, the average American driver overpays more than $750 every year so you should quote rates at least once a year to save money.
In the end, you can save money
In this article, we covered a lot of techniques to lower your Volvo S60 insurance prices in Lexington. It’s most important to understand that the more price quotes you have, the better your comparison will be. Consumers may even find the lowest prices are with some of the lesser-known companies. Some small companies can often provide lower rates in certain areas than the large multi-state companies such as GEICO and State Farm.
Budget-friendly car insurance in Lexington can be bought on the web in addition to many Lexington insurance agents, and you should be comparing both so you have a total pricing picture. There are still a few companies who may not have online quoting and many times these regional carriers only sell through independent insurance agencies.
Additional information
- Older Drivers FAQ (iihs.org)
- How Much are Auto Insurance Quotes for a 20 Year Old Female in Lexington? (FAQ)
- Who Has Affordable Car Insurance Rates for a Toyota Camry in Lexington? (FAQ)
- Who Has Affordable Car Insurance Quotes for Good Students in Lexington? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Child Safety Seats (Insurance Information Institute)