Would you like to find the cheapest insurance rates in Los Angeles, CA? Los Angeles drivers have options when trying to find affordable Volvo V50 insurance. They can either waste time driving around trying to get quotes or leverage the internet to find the lowest rates.
There are more efficient ways to find insurance online and you need to know the absolute fastest way to get price quotes for your Volvo and get the best price possible from both online companies and Los Angeles agents.
Smart consumers take time to do rate comparisons on a regular basis due to the fact that insurance rates are constantly changing. Even if you got the best rate on Volvo V50 insurance in Los Angeles a year ago other companies may now be cheaper. Ignore everything you know about insurance because I’m going to teach you the proper way to remove unneeded coverages and save money.
Our objective in writing this article is to instruct you on how car insurance quotes work and how to save the most money. If you have coverage now, you stand a good chance to be able to lower your rates using these tips. Drivers just have to know the tricks to compare insurance rates online.
Getting a cheaper price on insurance is not a difficult process. All that’s required is to invest a few minutes comparing free Los Angeles auto insurance quotes to find the company with the cheapest Volvo V50 rate quotes.
The companies shown below can provide free quotes in Los Angeles, CA. If several companies are displayed, we recommend you visit two to three different companies to get the most competitive price.
Volvo V50 insurance rate analysis
The table shown below outlines detailed analysis of prices for Volvo V50 models. Having a better understanding of how prices are determined is important for you to make informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|V50 AWD T5 R-Design||$314||$630||$442||$26||$132||$1,544||$129|
|Get Your Own Customized Quote Go|
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Table data does not factor in specific zip code location which can influence prices greatly.
The information below highlights how deductible selection and can affect Volvo V50 insurance prices for each age group. The premiums are based on a single female driver, full coverage, and no additional discounts are factored in.
Drive responsibly or pay higher rates
The illustration below highlights how traffic violations and fender-benders can influence Volvo V50 yearly insurance costs for each age group. The rates are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
Age-based car insurance rates by gender
The illustration below illustrates the comparison of Volvo V50 yearly insurance costs for male and female drivers. The data assumes no violations or claims, full physical damage coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.
How much more does full coverage cost?
The information below shows the difference between Volvo V50 auto insurance costs when comparing full coverage to liability only. The premium estimates are based on no accidents or driving violations, $250 deductibles, single marital status, and no additional discounts are factored in.
Are you wasting money paying for full coverage?
There is no clear-cut formula of when to stop paying for comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Volvo V50 book value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $8,000 after the deductible is paid. If you are currently paying more than $800 annually for full coverage, then you might consider buying liability only.
There are some scenarios where eliminating full coverage is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Car insurance in California serves several purposes
Even though it can be expensive, car insurance is required in California but also provides important benefits.
First, the majority of states have minimum liability requirements which means you are required to buy a minimum amount of liability coverage in order to get the vehicle licensed. 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 you have a lien on your Volvo V50, it’s guaranteed your bank will require that you have physical damage coverage to protect their interest in the vehicle. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Volvo at a much higher rate and force you to pay much more than you were paying before.
Third, insurance safeguards not only your Volvo V50 but also your assets. It will also reimburse you for most medical and hospital costs for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your car definitely exceed the price paid, especially for larger claims. On average, a vehicle owner in Los Angeles is currently overpaying as much as $825 a year so we recommend shopping around once a year at a minimum to ensure rates are inline.
Get lower-cost Volvo V50 insurance in Los Angeles with discounts
Auto insurance is not inexpensive, but there are discounts available that many people don’t even know exist. Certain discounts will be applied when you get a quote, but less common discounts must be requested specifically before you get the savings.
- Savings for New Vehicles – Buying a new car model can save up to 30% because new vehicles are generally safer.
- No Claim Discounts – Claim-free drivers have much lower rates compared to policyholders that have many claims.
- Anti-theft System – Cars with anti-theft systems are stolen with less frequency and therefore earn up to a 10% discount.
- Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of more than 20%.
- Sign Online – A few larger online companies will discount your bill up to fifty bucks get Los Angeles auto insurance over the internet.
- Federal Employees – Federal government employees could cut as much as 10% off with certain companies.
- Switch and Save Discount – A few larger companies give discounts for buying a new policy before your current expiration date. You can save around 10% with this discount.
- 55 and Retired – Drivers over the age of 55 may be able to get lower premium rates.
- No Charge for an Accident – Not a discount per se, but a handful of insurance companies will let one accident slide before hitting you with a surcharge so long as you haven’t had any claims for a specific time period.
- Early Payment Discounts – If paying your policy premium upfront rather than paying monthly you may have a lower total premium amount.
Discounts lower rates, but most discounts do not apply to your bottom line cost. Most cut specific coverage prices like physical damage coverage or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, nobody gets a free ride.
The diagram below illustrates the comparison of Volvo V50 insurance rates with and without discounts applied. The rate quotes are based on a female driver, no claims or driving citations, California state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-car, marriage, and multi-policy discounts applied.
Some of the larger companies that may offer policyholders these money-saving discounts are:
When getting a coverage quote, ask every insurance company to give you their best rates. All car insurance discounts may not apply to policies in Los Angeles. For a list of providers that offer many of these discounts in Los Angeles, follow this link.
Get rate quotes but still have a local Los Angeles insurance agency
Many people still prefer to get professional advice from a licensed agent and that is a personal choice. Insurance agents are highly skilled in risk management and help file insurance claims. An additional benefit of comparing car insurance online is the fact that you can find lower rates but still work with a licensed agent. And providing support for local insurance agents is still important in Los Angeles.
To find an agent, once you fill out this quick form, your coverage information is instantly submitted to local insurance agents that can provide free Los Angeles auto insurance quotes for your insurance coverage. You don’t have to drive around since rate quotes are delivered directly to your email. In the event you want to get a price quote from a particular provider, you just need to visit that company’s website to submit a rate quote request.
Choose an insurance agent wisely
When finding a good Los Angeles insurance agent, you need to know there are two types of insurance agents that you can choose from. Car insurance agencies are either exclusive or independent. Either type can provide car insurance policies, but it’s a good idea to understand the subtle differences since it can affect the kind of agent you use.
Independent Insurance Agents
Independent agents are not required to write business for one company so they can insure your vehicles through many companies and help determine which has the cheapest rates. If you are not satisfied with one company, they simply move your policy to a different company which makes it simple for you. When comparing car insurance prices, you need to compare prices from several independent insurance agents for the best price selection. Most also write with smaller companies which could offer lower prices.
Shown below is a small list of independent agents in Los Angeles that may be able to provide free rate quotes.
- JSB Insurance Services, Inc.
1801 S La Cienega Blvd Ste 201 – Los Angeles, CA 90035 – (310) 402-0020 – View Map
- Malcom Brown Insurance Agency
2861 Robertson Blvd – Los Angeles, CA 90034 – (310) 280-0946 – View Map
- Lloyd S. Berkett Insurance Agency, Inc.
11150 W Olympic Blvd # 1100 – Los Angeles, CA 90064 – (310) 857-5757 – View Map
Exclusive agents can only place business with one company such as AAA, Allstate, and State Farm. These agents are unable to provide other company’s prices so you need to shop around if the rates are high. Exclusive agents are well trained on their products and sales techniques which helps them sell insurance even at higher premiums. Some people will only use the same exclusive agent partially due to the brand legacy instead of buying on price only.
Below are exclusive agencies in Los Angeles that can give you rate quotes.
- Rodney Brown – State Farm Insurance Agent
7154 Melrose Ave – Los Angeles, CA 90046 – (323) 931-1466 – View Map
- Oleg Avanesov – State Farm Insurance Agent
12245 California Route 2 – Los Angeles, CA 90025 – (310) 826-8700 – View Map
- Kaz Achiwa – State Farm Insurance Agent
340 E Azusa St, Ste B – Los Angeles, CA 90012 – (213) 253-1210 – View Map
Choosing an car insurance agent requires you to look at more than just a cheap price quote. Here are some questions to ask:
- If you raise deductibles, how much can you save?
- Is the agent and/or agency licensed to do business in California?
- If your car is totaled, how to they determine the replacement cost?
- What insurance companies do they recommend if they are an independent agent?
- Do they prorate repair cost based on vehicle mileage?
Insurance coverage breakdown
Having a good grasp of a insurance policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring.
Uninsured or underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Because many people carry very low liability coverage limits (California limits are 15/30/5), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time the UM/UIM limits are set the same as your liability limits.
Coverage for liability
Liability coverage provides protection from damage or injury you incur to a person or their property by causing an accident. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 15/30/5 which stand for $15,000 bodily injury coverage, a per accident bodily injury limit of $30,000, and $5,000 of coverage for damaged property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for things such as repair costs for stationary objects, legal defense fees and bail bonds. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford. California requires minimum liability limits of 15/30/5 but you should consider buying better liability coverage.
The next chart demonstrates why minimum state limits may not be enough.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses such as surgery, doctor visits, ambulance fees and hospital visits. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
This pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like vandalism, damage from getting keyed and fire damage. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
This covers damage to your V50 caused by collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage pays for things like rolling your car, sustaining damage from a pot hole, driving through your garage door, sideswiping another vehicle and scraping a guard rail. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible on your V50 in order to get cheaper collision rates.
Compare auto insurance rates regularly to save
We covered many tips how you can find affordable Volvo V50 insurance in Los Angeles. The key concept to understand is the more price quotes you have, the higher your chance of finding cheaper Los Angeles auto insurance quotes. You may even find the most savings is with an unexpected company.
Some insurance companies do not offer online rate quotes and these regional carriers only sell coverage through local independent agencies. Cheap Volvo V50 insurance in Los Angeles is definitely available both online and also from your neighborhood Los Angeles agents, and you need to comparison shop both in order to have the best price selection to choose from.
As you restructure your insurance plan, it’s a bad idea to reduce coverage to reduce premium. There have been many cases where someone dropped liability limits or collision coverage only to regret they didn’t purchase enough coverage. Your strategy should be to buy the best coverage you can find at the best possible price, but do not skimp to save money.
To read more, take a look at the articles below:
- Child Safety Seats (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance Rates for Infrequent Drivers in Los Angeles? (FAQ)
- Who Has Cheap Car Insurance for Drivers with Accidents in Los Angeles? (FAQ)
- How Much are Car Insurance Rates for Drivers Over Age 70 in Los Angeles? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with a DUI in Los Angeles? (FAQ)
- Who Has the Cheapest Los Angeles Car Insurance Rates for a Jeep Wrangler? (FAQ)
- State Car Insurance Guides (GEICO)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Airbag FAQ (iihs.org)