Do you want to save money by buying low-cost Volvo S80 insurance in Anchorage? Scraping up a payment for expensive Volvo S80 insurance in Anchorage can eat up your savings and make it tough to pay other bills. Performing a rate comparison can lower your rates and help to tighten up your finances.
It’s astonishing, but almost 70% of insureds in Alaska kept buying from the same company for more than four years, and approximately 38% of consumers have never compared rates from other carriers. With the average car insurance premium being $1,847, U.S. drivers can cut their rates by as much as 47% a year just by getting comparison quotes, but most undervalue the amount of money they would save if they bought a different policy.
Steps to finding more affordable Volvo S80 insurance in Anchorage
It takes a few minutes, but the best way to get more affordable Volvo S80 insurance in Anchorage is to start doing an annual price comparison from different companies in Alaska.
- Learn about how car insurance works and the things you can control to prevent high rates. Many policy risk factors that are responsible for high rates such as at-fault accidents, careless driving, and a bad credit rating can be controlled by improving your driving habits or financial responsibility.
- Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive or Allstate, while independent agencies can quote prices for many different companies. Find an Anchorage insurance agent
- Compare the new quotes to your current policy premium and see if there is a cheaper rate. If you find a lower rate and buy the policy, verify that coverage does not lapse between policies.
- Notify your current company to cancel your current coverage and submit any necessary down payment along with the completed application to the newly selected company. As soon as you receive it, keep the new proof of insurance paperwork with the vehicle registration.
The key thing to remember is to try to use similar limits and deductibles on each quote request and and to get rates from as many companies as you can. This guarantees a level playing field and the best price selection.
Since consumers have many companies and agents to choose from, it is hard for the average consumer to find the most cost effective insurer.
Locating the best rates in Anchorage can initially seem challenging. If you are already insured or just want a better rate, you can use these tips to buy cheaper insurance while maintaining coverages. Comparison shoppers just need to understand the tricks to buy insurance instantly.
The companies shown below are our best choices to provide price quotes in Alaska. If your goal is to find the best cheap auto insurance in AK, we suggest you click on several of them in order to get a fair rate comparison.
Verify you’re applying every discount
Insurance is not cheap nor is it fun to buy but there may be some discounts that can help lower your rates. Certain credits will be shown at quote time, but less common discounts must be requested specifically before you get the savings. If they aren’t giving you every credit you deserve, you are throwing money away.
- Seat Belts Save more than Lives – Requiring all passengers to use a seat belt could save 15% off the medical payments premium.
- Cautious Driver Discount – Insureds without accidents can save as much as half off their rates as compared to drivers with claims.
- Discount for New Cars – Adding a new car to your policy can get you a discount because newer vehicles are generally safer.
- Military Discounts – Being deployed with a military unit may lower your insurance rates slightly.
- Accident-Free Discounts – Claim-free drivers get the best insurance rates when compared with frequent claim filers.
- Discount for Low Mileage – Driving less could be rewarded with lower rates on the low mileage vehicles.
- Senior Citizen Rates – Drivers over the age of 55 can get lower premium rates.
- Driver Education Discount – It’s a good idea to have your young drivers successfully take a driver’s education course if offered at their school.
Remember that most of the big mark downs will not be given to the entire cost. Most cut specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears all those discounts means the company will pay you, companies don’t profit that way.
The illustration below visualizes the comparison of Volvo S80 insurance prices with and without discounts applied to the rates. The information is based on a female driver, a clean driving record, no claims, Alaska state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, marriage, safe-driver, multi-car, and claim-free discounts applied.
Large insurance companies and some of the discounts can be read below.
- GEICO has discounts for emergency military deployment, anti-theft, military active duty, multi-policy, driver training, seat belt use, and daytime running lights.
- Travelers discounts include save driver, IntelliDrive, payment discounts, good student, hybrid/electric vehicle, and home ownership.
- Nationwide offers discounts for defensive driving, business or organization, anti-theft, good student, easy pay, accident-free, and Farm Bureau membership.
- Farmers Insurance may include discounts for switch companies, alternative fuel, distant student, multi-car, business and professional, and early shopping.
- Esurance has savings for paid-in-full, safety device, multi-policy, good driver, claim free, and DriveSense.
- State Farm includes discounts for good student, good driver, Steer Clear safe driver discount, driver’s education, and multiple autos.
- Progressive offers premium reductions for continuous coverage, online signing, homeowner, multi-vehicle, and multi-policy.
- Mercury Insurance may have discounts that include good student, multi-policy, ease of repair, location of vehicle, professional/association, good driver, and accident-free.
Double check with every company which discounts you may be entitled to. Savings might not be available to policyholders in Anchorage. To see a list of companies offering insurance discounts in Anchorage, follow this link.
The information displayed below outlines different policy rates for Volvo S80 models. Understanding more about how auto insurance prices are determined can help you make smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S80 T6 AWD||$230||$488||$262||$16||$78||$1,074||$90|
|S80 Executive AWD||$230||$552||$262||$16||$78||$1,138||$95|
|S80 V8 AWD||$254||$552||$262||$16||$78||$1,162||$97|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Rates do not factor in vehicle location which can change premium rates significantly.
The diagram below shows how choosing a deductible and can raise or lower Volvo S80 insurance costs for different age groups. The information is based on a married male driver, full coverage, and no other discounts are factored in.
Careless drivers pay higher rates
The diagram below demonstrates how speeding tickets and at-fault accidents can affect Volvo S80 insurance costs for different age groups. Data assumes a married female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Liability only or full coverage
The illustration below visualizes the comparison of Volvo S80 premium costs with and without full coverage. The prices are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
When to stop buying comprehensive and collision coverage
There is no written rule of when to phase out comp and collision coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s pretend your Volvo S80 claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after paying your policy deductible. If you are currently paying more than $700 a year for full coverage, then you might want to think about dropping full coverage.
There are a few situations where removing full coverage is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Buying from insurance agents
Many people just prefer to buy from a licensed agent and there is nothing wrong with that. Licensed agents are highly skilled in risk management and help you file claims. An additional benefit of comparing insurance prices online is you may find cheap rate quotes and still have a local agent.
After completing this quick form, your insurance data is submitted to companies in Anchorage who will return price quotes and help you find cheaper coverage. There is no reason to contact any agents since price quotes are sent instantly to you. If you have a need to get a rate quote from a specific company, feel free to navigate to their website and fill out their quote form.
Deciding on a provider requires you to look at more than just the bottom line cost. These questions are important to ask:
- Do they have 24-hour customer assistance?
- How are they compensated?
- If you are a high risk driver, do they have special markets for your coverage?
- When do they do policy reviews?
- What is their Better Business Bureau rating?
When narrowing the list to find a local insurance agency, it can be helpful to understand the different agency structures and how they operate. Car insurance agencies are categorized either exclusive or independent. Both types can sell affordable car insurance policies, but it’s worth learning how they are different because it may have an impact on buying decisions.
These agents generally can only insure with one company and some examples include State Farm, AAA, and Liberty Mutual. They usually cannot provide other company’s prices so it’s a take it or leave it situation. These agents are usually well trained on sales techniques which helps overcome the inability to quote other rates.
Listed below are exclusive agents in Anchorage who can help you get rate quotes.
Independent Agencies or Brokers
Agents of this type do not write with just one company and that is an advantage because they can write policies through many companies and possibly get better coverage at lower prices. If your agent finds better pricing, your agent can just switch to a different company which is easy for the insured.
When comparing rate quotes, you will want to compare quotes from several independent agencies to have the most options to choose from.
Shown below is a short list of independent insurance agents in Anchorage that are able to give rate quotes.
Kevin Dykman Agency
4450 Cordova St #120 – Anchorage, AK 99503 – (907) 563-5300 – View Map
Once you have received positive feedback and an affordable coverage quote, it’s a good possibility that you have found a car insurance agent that meets the criteria to adequately provide car insurance. Keep in mind once you purchase a policy you can terminate your policy at any time so don’t assume that you are obligated to a specific agent for a certain time period.
How Insurance Companies Calculate Volvo S80 Insurance Premiums
Many different elements are used in the calculation when you quote your car insurance policy. Some are pretty understandable like an MVR report, although some other factors are less apparent such as whether you are married or your commute time.
Listed below are some of the factors that factor into prices.
Maintain car insurance coverage – Driving without insurance is not a good idea and as a result your rates will increase for letting your insurance lapse. Not only will you pay higher rates, being ticketed for driving with no insurance might get you a steep fine or even jail time.
What are good liability limits? – Your car insurance policy’s liability coverage will provide protection if ever you are responsible for damages from an accident. It will provide you with a defense in court to attempt to prove you were not liable. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Costs can change based on your address – Choosing to live in a rural area can save you money if you are looking for the lowest rates. Drivers who live in large cities tend to have more traffic problems and a longer drive to work. Fewer drivers on the road translates into fewer accidents and a lower car theft rate.
Little extras can really add up – Insurance policies have a lot of additional extra coverages that can add up on your S80 policy. Insurance for things like rental car reimbursement, accidental death, and extra equipment coverage could be just wasting money. The coverages may be enticing at first, but if you don’t need them eliminate them to save money.
Volvo S80 insurance loss statistics – Car insurance companies factor in insurance loss information to help calculate a profitable premium price. Vehicles that the data shows to have a trend towards higher claim severity or frequency will be charged more to insure.
The table shown below demonstrates the collected loss data for Volvo S80 vehicles. For each coverage type, the claim probability for all vehicles combined as an average is represented as 100. Percentages below 100 represent a good loss history, while values that are above 100 show a trend for more claims or statistically larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volvo S80 4dr 2WD||82|
|Volvo S80 4dr 4WD||93|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance does more than just repair your car
Despite the fact that insurance is not cheap in Anchorage, maintaining insurance is most likely required but also gives you several important benefits.
- The majority of states have compulsory liability insurance requirements which means state laws require a specific level of liability in order to drive the car. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Volvo, it’s guaranteed your bank will make it a condition of the loan that you have full coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Volvo at a more expensive rate and force you to pay for it.
- Insurance protects your car and your assets. It also can pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage also covers legal expenses if anyone sues you for causing an accident. If your Volvo gets damaged, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of insuring your car more than offset the price you pay, particularly if you ever have a claim. But the average driver in Alaska overpays as much as $865 each year so you should quote your policy with other companies at least once a year to be sure current rates are still competitive.
Keep this in mind when shopping around
Affordable Volvo S80 insurance in Anchorage can be sourced online in addition to local insurance agencies, so you need to shop Anchorage car insurance with both in order to have the best price selection to choose from. Some insurance companies don’t offer rate quotes online and most of the time these smaller companies only sell coverage through independent agents.
You just learned a lot of information how to get a better price on Volvo S80 insurance in Anchorage. The key thing to remember is the more price quotes you have, the better your comparison will be. You may even find the lowest car insurance rates are with a small local company. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as State Farm or Progressive.
When getting Anchorage car insurance quotes online, it’s very important that you do not reduce coverage to reduce premium. There have been many situations where an insured dropped liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. Your aim should be to buy the best coverage you can find for the lowest cost, but do not sacrifice coverage to save money.
Steps to buying lower priced Volvo S80 insurance in Anchorage
Really, the only way to get cheaper Volvo S80 insurance in Anchorage is to do a yearly price comparison from different companies who can sell car insurance in Alaska. You can compare prices by following these guidelines.
Step 1: Try to learn about how car insurance works and the steps you can take to lower rates. Many things that result in higher rates such as your driving record and an imperfect credit score can be amended by making minor driving habit or lifestyle changes.
Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive or State Farm, while independent agencies can provide prices for a wide range of companies. Find an Anchorage insurance agent
Step 3: Compare the new rates to your existing policy to see if a cheaper price is available in Anchorage. If you find a lower rate quote and switch companies, make sure coverage does not lapse between policies.
Step 4: Provide written notification to your current company of your decision to cancel the current policy. Submit a completed policy application and payment to your new agent or company. Immediately place your new certificate of insurance along with the vehicle’s registration papers.
A tip to remember is to make sure you enter similar deductibles and liability limits on each quote and to quote with every insurance company. Doing this provides an apples-to-apples comparison and the best rate selection.
Even more information can be found in these articles:
- Electronic Stability Control FAQ (iihs.org)
- Who Has the Cheapest Auto Insurance Rates for a Honda CR-V in Anchorage? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Drivers Under 21 in Anchorage? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Young Drivers in Anchorage? (FAQ)
- How Much are Auto Insurance Quotes for a Hyundai Santa Fe in Anchorage? (FAQ)
- Distracted Driving Statistics (Insurance Information Institute)
- Information for Teen Drivers (GEICO)