Astonishing but true according to a recent study, the vast majority of auto insurance customers in Nevada have remained with the same auto insurance company for over three years, and practically 40% of auto insurance customers have never compared rate quotes at all. The average driver in the United States could save approximately 46.5% every year just by comparing rates, but they just feel it’s too hard to do a rate comparison.
If you want to save the most money, the best way to find more affordable auto insurance rates in Las Vegas is to compare prices once a year from different companies that sell auto insurance in Nevada. This can be done by following these steps.
- Try to learn about what coverages are included in your policy and the things you can control to prevent expensive coverage. Many rating criteria that cause high rates like getting speeding tickets and a not-so-good credit score can be controlled by making lifestyle changes or driving safer. Continue reading for more ideas to help reduce prices and find available discounts that you may qualify for.
- Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like GEICO or State Farm, while independent agents can give you price quotes for a wide range of insurance providers. View rates
- Compare the new rate quotes to your existing rates and see if you can save money. If you can save some money and decide to switch, make sure coverage does not lapse between policies.
- Provide notification to your current agent or company of your intent to cancel your current car insurance policy and submit payment and a signed application to your new carrier. Be sure to keep the new certificate of insurance in your glove compartment.
The key aspect of shopping around is that you’ll want to compare the same liability limits and deductibles on every quote request and and to analyze as many different companies as possible. This guarantees an apples-to-apples comparison and the best rate selection.
How to get Las Vegas Volvo XC70 insurance rate quotes
Lowering your auto insurance rates is actually easier than you may think. You just need to take a few minutes comparing price quotes to see which company has low cost Las Vegas car insurance quotes.
The companies in the list below offer price comparisons in Las Vegas, NV. If your goal is to find cheap car insurance in NV, we suggest you visit as many as you can to get a more complete price comparison.
Premium rates and analysis
The data table displayed below outlines estimates of insurance rates for Volvo XC70 models. Having a good understanding how policy premiums are determined is important for you to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $234 | $402 | $334 | $20 | $100 | $1,090 | $91 |
| XC70 T6 AWD 4-Dr | $234 | $462 | $334 | $20 | $100 | $1,150 | $96 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price estimates do not factor in zip code location which can alter coverage prices significantly.
Comparison of policy deductibles
A question often asked by Las Vegas drivers is which deductibles should you choose. The data tables below can help illustrate the differences in premium rates of buying low and high physical damage coverage deductibles. The first data set uses a $250 physical damage coverage deductible and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $300 | $472 | $348 | $20 | $104 | $1,269 | $106 |
| XC70 T6 AWD 4-Dr | $300 | $544 | $348 | $20 | $104 | $1,341 | $112 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC70 3.2 AWD Station Wagon | $244 | $382 | $348 | $20 | $104 | $1,098 | $92 |
| XC70 T6 AWD 4-Dr | $244 | $438 | $348 | $20 | $104 | $1,154 | $96 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Prices do not factor in garaging location in Las Vegas which can increase or decrease auto insurance rates considerably.
Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you about $15 more each month or $180 a year than buying the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 17 months between claim filings, you would most likely save money if you elect the higher deductible.
The chart below shows how different deductible levels and can impact Volvo XC70 insurance premiums for each different age group. The information is based on a single female driver, full coverage, and no policy discounts are applied.
Does it make sense to buy full coverage?
The diagram below illustrates the comparison of Volvo XC70 insurance premiums when comparing full coverage to liability only. The data is based on no accidents or driving violations, $250 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying comprehensive and collision coverage
There is no set guideline to stop buying comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Volvo XC70 replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $3,000 after the deductible is paid. If you are paying in excess of $300 a year to have full coverage, then it might be time to consider dropping full coverage.
There are some conditions where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Las Vegas Insurance Rates are Influenced by These Factors
Lots of factors are part of the equation when you quote your car insurance policy. Some of the criteria are obvious like a motor vehicle report, but some are not quite as obvious like your vehicle usage or your vehicle rating. Consumers need to have an understanding of some of the things that help determine your premiums. If you have some idea of what impacts premium levels, this enables you to make decisions that may reward you with lower car insurance prices.
The following are some of the most rate-impacting factors used by insurance companies to determine your prices.
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Gender and car insurance – Over the last 50 years, statistics have shown that females take fewer risks when driving. However, don’t assume that men are worse drivers. Men and women cause accidents in similar percentages, but males have accidents that have higher claims. They also get higher numbers of serious violations such as driving while intoxicated (DWI) or driving recklessly. Male drivers age 16 to 19 have the highest risk to insure so they pay the highest premiums.
The chart below visualizes the comparison of Volvo XC70 annual premium costs for male and female drivers. The premium estimates are based on no violations or accidents, full physical damage coverage, $1,000 deductibles, single marital status, and no additional discounts are factored in.
- Your credit rating is important – Your credit rating is a big factor in calculating your car insurance rates. Insureds with very good credit scores tend to be less risk to insure than those with bad credit. If your credit is low, you could potentially save money when insuring your Volvo XC70 if you clean up your credit.
- Adjust physical damage deductibles and save – Coverage for physical damage, aka comp and collision, insures against damage to your Volvo. Some instances where coverage would apply would be a broken side mirror, damage caused by hail, or theft. Physical damage deductibles represent how much money you are required to pay in the event of a claim. The larger the amount you choose to pay out-of-pocket, the lower your rates will be.
- Stay claim-free and save money – Companies in Nevada give most affordable rates to drivers who do not rely on their insurance for small claims. If you’re an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Your car insurance is designed for claims that you cannot pay yourself.
- Employer stress can affect rates – Jobs such as military generals, air traffic controllers, and emergency personnel generally have higher premiums than the average policyholder due to intense work requirements and lengthy work days. On the other hand, occupations like professors, historians and retirees get better rates.
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Insurance loss data for a Volvo XC70 – Auto insurance companies study historical loss data as a tool for profitable underwriting. Models that statistically have higher losses will have higher rates for specific coverages.
The table below illustrates the historical loss data for Volvo XC70 vehicles. For each coverage category, the claim amount for all vehicles, as a total average, is considered to be 100. Percentage numbers below 100 suggest losses that are better than average, while percentage numbers above 100 indicate more frequent losses or a tendency for claims to be larger.
Auto Insurance Loss Data for Volvo XC70 Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo XC70 Station Wagon 2WD 69 Volvo XC70 Station Wagon 4WD 79 70 94 45 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Protect your Volvo vehicle and other assets
Despite the potentially high cost of Volvo XC70 insurance, maintaining insurance is not optional due to several reasons.
- The majority of states have compulsory liability insurance requirements which means the state requires a minimum amount of liability coverage in order to drive the car legally. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Volvo, it’s guaranteed your bank will require that you have comprehensive coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank will be required to insure your Volvo for a much higher rate and require you to pay much more than you were paying before.
- Car insurance preserves both your Volvo and your personal assets. It will also provide coverage for medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your car insurance policy will pay to repair the damage.
The benefits of buying car insurance more than cancel out the cost, particularly when you have a large claim. An average driver in America is overpaying more than $750 every year so it’s very important to do a rate comparison once a year at a minimum to save money.