It’s an obvious assumption that auto insurance companies want to keep you from comparing prices. Drivers who get comparison quotes at least once a year will probably switch companies because they stand a good chance of finding lower rate quotes. A survey found that drivers who shopped around annually saved on average $3,450 over four years as compared to drivers who never compared prices.
If finding the lowest price for Volvo XC60 insurance is your ultimate target, then having a good understanding how to choose a company and compare insurance premiums can make the process less intimidating.
If your goal is the lowest price, then the best way to find cheaper quotes for Volvo XC60 insurance in Oakland is to start comparing prices regularly from insurance carriers in California. Price quotes can be compared by completing these steps.
Step 1: It will benefit you to learn about coverages and the measures you can control to prevent rate increases. Many rating factors that result in higher prices like at-fault accidents and poor credit rating can be rectified by improving your driving habits or financial responsibility. Continue reading for additional ideas to prevent expensive rate increases and get additional discounts.
Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple sources. View a list of agents
Step 3: Compare the quotes to your existing policy and determine if cheaper XC60 coverage is available. If you find a lower rate, verify that coverage does not lapse between policies.
The most important part of shopping around is to make sure you enter the same liability limits and deductibles on each quote request and and to get rate quotes from as many different insurance providers as possible. Doing this ensures an apples-to-apples comparison and maximum price selection.
If you are already insured or just want a better rate, take advantage of these tips to get lower rates without having to cut coverage. This information will instruct you on the best way to quote coverages and how you can save the most money. Consumers just need to know the quickest method to compare insurance rates from many companies at once.
Facts and figures for Volvo XC60 insurance
The rate table displayed next showcases detailed analysis of insurance prices for Volvo XC60 models. Having insight into how auto insurance prices are established is important for drivers to make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $164 | $308 | $360 | $22 | $108 | $962 | $80 |
| XC60 3.2 AWD | $186 | $308 | $360 | $22 | $108 | $984 | $82 |
| XC60 T6 AWD AWD | $186 | $362 | $360 | $22 | $108 | $1,038 | $87 |
| XC60 T6-R AWD AWD | $206 | $362 | $360 | $22 | $108 | $1,058 | $88 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price estimates do not factor in specific garaging location which can lower or raise rates greatly.
Policy deductibles
One of the more difficult decisions when buying auto insurance is how low should you set your deductibles. The following tables outline the differences in premium rates between high and low comp and collision deductibles. The first rate comparisons uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $342 | $576 | $376 | $22 | $112 | $1,453 | $121 |
| XC60 3.2 AWD | $386 | $576 | $376 | $22 | $112 | $1,497 | $125 |
| XC60 T6 AWD AWD | $386 | $678 | $376 | $22 | $112 | $1,599 | $133 |
| XC60 T6-R AWD AWD | $430 | $678 | $376 | $22 | $112 | $1,643 | $137 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $210 | $362 | $376 | $22 | $112 | $1,082 | $90 |
| XC60 3.2 AWD | $238 | $362 | $376 | $22 | $112 | $1,110 | $93 |
| XC60 T6 AWD AWD | $238 | $426 | $376 | $22 | $112 | $1,174 | $98 |
| XC60 T6-R AWD AWD | $266 | $426 | $376 | $22 | $112 | $1,202 | $100 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price estimates do not factor in Oakland location which can revise premium rates significantly.
Using the data above, we can ascertain that using a $250 deductible will cost in the ballpark of $34 more each month or $408 every year than selecting the higher $1,000 deductible. Since you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to average more than 22 months between claims, you would probably save some money going with the higher deductible.
Comparison of full coverage and liability-only policies
The chart below illustrates the comparison of Volvo XC60 insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are factored in.
When to drop comprehensive and collision
There is no specific rule that works best for making the decision to drop physical damage insurance, but there is a guideline you can use. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s say your Volvo XC60 replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $6,000 after you pay the deductible. If it’s costing in excess of $600 annually to have full coverage, then you might consider buying liability only.
There are some cases where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.
Save a ton on Volvo XC60 insurance in Oakland with these eight discounts
Some providers don’t always list every discount available very well, so we break down both well-publicized and the harder-to-find ways to save on auto insurance.
- Anti-theft System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
- Discounts for Good Drivers – Drivers who don’t get into accidents can save up to 40% or more on their Oakland auto insurance quote than drivers with accident claims.
- Defensive Driving Course – Participating in a course that instructs on driving safety could earn you a small percentage discount depending on where you live.
- Good Student – A discount for being a good student can save 20 to 25%. Earning this discount can benefit you up to age 25.
- Discount for Multiple Policies – When you combine your homeowners and auto insurance with the same insurance company you may save up to 20% off your total XC60 insurance premium.
- Multi-car Discount – Having multiple cars or trucks with the same company can get a discount on all vehicles.
- Sign Early and Save – A few larger companies give discounts for switching policies prior to your current XC60 insurance policy expiring. You could save around 10% when you buy Oakland auto insurance online.
- Early Payment Discounts – If you can afford to pay the entire bill instead of making monthly payments you can avoid the installment charge.
Discounts save money, but please remember that most credits do not apply to your bottom line cost. Most cut the price of certain insurance coverages like liability and collision coverage. So even though you would think having all the discounts means you get insurance for free, you’re out of luck.
The illustration below visualizes the comparison of Volvo XC60 insurance costs with and without discounts applied to the rates. The data is based on a male driver, no accidents, no driving violations, California 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 claim-free, homeowner, multi-car, multi-policy, safe-driver, and marriage discounts applied.
A few popular companies and a summarized list of policyholder discounts are shown below.
- American Family has discounts for TimeAway discount, multi-vehicle, good driver, accident-free, and air bags.
- Nationwide offers discounts for multi-policy, anti-theft, easy pay, business or organization, and defensive driving.
- MetLife offers discounts including multi-policy, claim-free, good student, good driver, defensive driver, accident-free
- 21st Century may offer discounts for teen driver, air bags, student driver, 55 and older, automatic seat belts, homeowners, and theft prevention.
- Farmers Insurance may have discounts that include pay in full, multi-car, alternative fuel, mature driver, and business and professional.
- Allstate discounts include passive restraint, early signing, defensive driver, anti-lock brakes, anti-theft, premier plus, and auto/life discount.
It’s a good idea to ask each company or agent which discounts you qualify for. Some credits might not apply in Oakland. If you would like to view auto insurance companies that can offer you the previously mentioned discounts in California, follow this link.
Auto insurance 101
Knowing the specifics of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Shown next are the normal coverages available from auto insurance companies.
Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.
Since many California drivers only carry the minimum required liability limits (15/30/5), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Collision coverage – This coverage will pay to fix damage to your XC60 resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as crashing into a building, driving through your garage door, damaging your car on a curb and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. You can also choose a higher deductible on your XC60 to bring the cost down.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills like pain medications, X-ray expenses, doctor visits, chiropractic care and funeral costs. They can be utilized in addition to your health insurance program or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is not an option in every state but can be used in place of medical payments coverage
Liability coverages – This provides protection from damage or injury you incur to a person or their property that is your fault. It protects you from claims by other people. It does not cover your injuries or vehicle damage.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 15/30/5 that translate to $15,000 bodily injury coverage, a total of $30,000 of bodily injury coverage per accident, and property damage coverage for $5,000. Occasionally you may see a combined limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage protects against claims like emergency aid, medical expenses, funeral expenses, structural damage and pain and suffering. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase higher limits if possible. California requires drivers to carry at least 15/30/5 but it’s recommended drivers buy more liability than the minimum.
The chart below demonstrates why buying the state minimum limits may not be enough.
Comprehensive coverage – This pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like vandalism, damage from getting keyed and falling objects. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Shop around and save
When shopping online for auto insurance, it’s a bad idea to skimp on critical coverages to save a buck or two. There have been many cases where an insured dropped liability limits or collision coverage and discovered at claim time that it was a big error on their part. Your goal should be to purchase plenty of coverage for the lowest cost while still protecting your assets.
Throughout this article, we presented a lot of tips how to compare Volvo XC60 insurance rates in Oakland. The key concept to understand is the more companies you get car insurance rates for, the better chance you’ll have of finding low cost Oakland auto insurance quotes. You may even find the best price on auto insurance is with a lesser-known regional company. Regional companies may often insure only within specific states and give better rates compared to the large companies like Progressive or GEICO.
Some auto insurance companies may not offer rates over the internet and many times these smaller companies only sell coverage through independent insurance agents. Low-cost Volvo XC60 insurance in Oakland is definitely available from both online companies and with local Oakland insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money.
Additional auto insurance information can be read below:
- Teen Driving Statistics (GEICO)
- What Insurance is Cheapest for a School Permit in Oakland? (FAQ)
- Who Has Affordable Oakland Car Insurance Rates for Uber Drivers? (FAQ)
- How Much are Car Insurance Quotes After a Speeding Ticket in Oakland? (FAQ)
- Alcohol Impaired Driving FAQ (iihs.org)
- Property Damage Coverage (Liberty Mutual)