How to Keep Your Insurance Bill Low for your Volvo (Part 2)

Perhaps, Destiny's Child hit song, Bills, Bills, Bills said it best:

Can you pay my bills
Can you pay my telephone bills
Can you pay my automo' bills
I don't think you do
So you and I are through

(Copyright 1999 Sony BMG Entertainment)

Unless you have someone paying your insurance bills (and I doubt they are since you are reading this Volvo blog), you're trying to save every dollar you can and not give the insurance company one extra dollar more of your hard-earned money.  So, if you just take some time out one evening or weekend and take these steps, you just may save some extra coin on insuring your Volvo and can put that money somewhere else:

1.    Drive less often: It seems so common-sensical that people don't even do it. Carpool more often to work. Combine all of your errands and chores (grocery store, school events, business classes, visits with parents, etc.) into one trip. Your mileage will drop (along with your fuel costs) and less mileage means lower risk to the insurance company which translates to lower premiums for you.

2.    Keep a clean credit report: Insurance companies run credit reports on all new applications and also regularly check their policyholders credit (varies from each company but around every 3-5 years) and if they see lots of negative activity such as judgments, collections, late payments or, even worse, foreclosures and bankruptcies, the insurance company may place your Volvo into a "higher-risk" bracket which is much more expensive than what you had. They may also just cancel your insurance outright. Bottom line: Pay your bills on-time and don't live above your means. It will save you a lot on insuring your Volvo.

3.    Add safety features: Whenever this reason comes up, eyes roll as many people think this means their Volvo will end up looking like a four-wheel version of a "walker" that will look ridiculous. That's far from the truth, however, as adding such safety accessories as anti-lock brakes, running lights or a customized alarm system not only will make your Volvo safer for you and your passengers, your insurance company will give it a seal of approval with a discount on your coverage. Insurance companies love "safety features" as it means a "responsible driver who is a low-risk" and they will reward you for it.

4.    Compare coverages with several auto insurance carriers. There are a large number of auto insurers out there-more now than ever thanks to the Internet. Shop around and get 3-5 different quotes for covering your Volvo(s). Also, keep customer service in mind. Some of the big online insurers may be cheaper but they don't actually establish a "customer service relationship" with you as you may be just a name in their database. Your local insurance agent may be your best vendor but may also be more expensive. Evaluate your budgets and the importance of cost vs. customer service before you choose your Volvo car insurance agent.

As you've seen in these two blog posts, there are a number of ways to save money insuring your Volvo by using these guidelines to save money. Just take an evening or Sunday afternoon to figure it out. Your checking account may be fatter for it.
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