Compare Volvo S40 Insurance Rate Quotes in Newark

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Discount Volvo S40 insuranceWould you like an easy way to compare more affordable insurance rates in Newark, NJ? Newark buyers have options when searching for the best price on Volvo S40 insurance. They can either spend hours calling around to compare prices or leverage the internet to get rate quotes.

There are more efficient ways to find insurance online so we're going to tell you the proper way to quote coverages for a Volvo and get the lowest price from both online companies and Newark agents.

Unbelievable but true, the vast majority of New Jersey insurance customers kept their policy with the same company for well over three years, and about 40% of consumers have never shopped around. Many drivers in America could pocket almost $860 a year by just shopping around, but they just don't understand how easy it is to shop around.

Finding a lower price on Volvo S40 insurance is actually easier than you may think. The only thing you need to do is spend a few minutes to compare rates from different insurance companies.

The providers in the list below can provide price comparisons in New Jersey. To buy cheap car insurance in New Jersey, it's a good idea that you compare several of them to get a more complete price comparison.

Companies offer lots of discounts on Volvo S40 insurance in Newark

Some providers don't always advertise every discount available in an easy-to-find place, so below is a list a few of the more well known in addition to some of the lesser obvious discounts that you can inquire about if you buy Newark auto insurance online.Discount insurance

  • Driver Education Discount - Require your teen driver to take driver's ed class in school.
  • Multi-line Discount - Some companies give a discounted price on car insurance if you buy some life insurance too.
  • Anti-lock Brakes - Cars, trucks, and SUVs that have anti-lock braking systems can stop better under adverse conditions so companies give up to a 10% discount.
  • Multi-policy Discount - If you can bundle your auto and home insurance and insure them both with the same insurance company you could earn a discount of over 10 percent off each policy depending on the company.
  • Low Miles Discount - Driving less may enable drivers to earn lower rates due to less chance of an accident.
  • Military Rewards - Being deployed with a military unit could trigger a small discount.
  • Defensive Driver - Passing a course in safe driver could cut 5% off your bill and also improve your driving technique.

As a sidenote, some of the credits will not apply to the entire cost. A few only apply to individual premiums such as physical damage coverage or medical payments. Despite the fact that it seems like you would end up receiving a 100% discount, you aren't that lucky.

The illustration below visualizes the comparison of Volvo S40 premium costs with and without discounts applied to the policy rates. The costs are based on a female driver, no claims or driving citations, New Jersey state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, marriage, multi-policy, safe-driver, and claim-free discounts applied.

Large insurance companies and their offered discounts are included below.

  • State Farm offers discounts including accident-free, student away at school, driver's education, multiple autos, anti-theft, defensive driving training, and safe vehicle.
  • American Family may have discounts that include multi-vehicle, good student, early bird, accident-free, defensive driver, Steer into Savings, and mySafetyValet.
  • AAA may include discounts for good student, AAA membership discount, multi-policy, pay-in-full, and good driver.
  • GEICO discounts include federal employee, defensive driver, military active duty, emergency military deployment, and multi-vehicle.
  • Mercury Insurance has savings for anti-theft, low natural disaster claims, ease of repair, type of vehicle, good driver, and annual mileage.
  • Farmers Insurance policyholders can earn discounts including homeowner, alternative fuel, electronic funds transfer, teen driver, and youthful driver.
  • Progressive offers premium reductions for online signing, online quote discount, homeowner, multi-policy, continuous coverage, and good student.

It's a good idea to ask all companies you are considering which discounts you may be entitled to. Some discounts may not be available everywhere.

Rate information and statistics

The premium information shown below showcases a range of insurance premium costs for Volvo S40 models. Having a better idea how car insurance prices are calculated can be valuable when making decisions when shopping around.

Volvo S40 Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $452 $862 $490 $30 $146 $1,980 $165
S40 T5 $452 $862 $490 $30 $146 $1,980 $165
S40 T5 AWD R-Design $452 $862 $490 $30 $146 $1,980 $165
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Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Premium costs do not factor in vehicle location which can raise or lower auto insurance rates considerably.

Higher deductibles save money

One frequently asked question is how low should you set your deductibles. The premium rates below help summarize how much more rates are between high and low policy deductibles. The first price estimate table uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.

Volvo S40 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $420 $738 $480 $28 $144 $1,835 $153
S40 T5 $420 $738 $480 $28 $144 $1,835 $153
S40 T5 AWD R-Design $420 $738 $480 $28 $144 $1,835 $153
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Volvo S40 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $340 $594 $480 $28 $144 $1,586 $132
S40 T5 $340 $594 $480 $28 $144 $1,586 $132
S40 T5 AWD R-Design $340 $594 $480 $28 $144 $1,586 $132
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in zip code location which can decrease or increase price quotes substantially.

Using the data above, we can ascertain that using a $250 deductible costs roughly $21 more each month or $252 for a full year across all Volvo S40 models than quoting the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally go at least 12 months between claims, you would more than likely save some money if you choose the higher deductible. Below is how you can perform this determination yourself.

Average monthly premium for $250 deductibles: $153
Average monthly premium for $500 deductibles (subtract): - $132
Monthly savings from raising deductible: $21
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

Rate comparison of men versus women in Newark

The illustration below illustrates the difference between Volvo S40 insurance costs for male and female drivers. The data is based on no accidents, no driving violations, full physical damage coverage, $500 deductibles, drivers are not married, and no additional discounts are factored in.

How much more does full coverage cost in Newark?

The information below illustrates the difference between Volvo S40 yearly insurance costs with full coverage and liability only. The data assumes no claims or driving violations, $100 deductibles, single status, and no other discounts are factored in.

When to stop paying for full coverage

There is no exact formula to delete physical damage coverage, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.

For example, let's pretend your Volvo S40 claim settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after paying the physical damage deductible. If you are currently paying more than $400 annually for comprehensive and collision coverage, then it could be time to drop full coverage.

There are some cases where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.

New Jersey auto insurance company ratings

Picking the top auto insurance provider can be a challenge considering how many companies are available to choose from in Newark. The company ratings in the lists below can help you select which insurers you want to consider comparing rates with.

Best Auto Insurance Companies in New Jersey
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Mercury Insurance 87 96 100 87% A+ 93.4
The Hartford 88 96 91 93% A+ 92.6
Progressive 84 94 99 90% A+ 92.4
Travelers 84 93 100 87% A++ 92.3
State Farm 84 93 95 87% A++ 91
Farmers Insurance 87 92 90 85% A 90.6
Safeco Insurance 85 91 87 86% A 88.4
USAA 71 93 98 87% A++ 88
GEICO 73 93 95 85% A++ 87.1
21st Century 85 85 91 89% A 86.9
Liberty Mutual 72 91 97 83% A 86.4
AAA Insurance 85 85 88 86% A 85.8
Nationwide 71 90 93 83% A+ 84.9
Allstate 69 92 92 83% A+ 84.4
American Family 77 96 80 85% A 83.8
Esurance 70 80 89 77% A+ 79.2
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Data Source: Insure.com Best Car Insurance Companies

Good Decisions Result in Lower Insurance Premiums

Multiple criteria are considered when pricing auto insurance. A few of the factors are predictable such as your driving record, but other factors are less obvious like your vehicle usage or your commute time. Consumers need to have an understanding of a few of the rating criteria that aid in calculating the rates you pay for insurance. If you have some idea of what influences your rates, this enables informed choices that could help you find lower rates.

  • Traffic violations can be expensive - Drivers with clean records pay lower auto insurance prices than bad drivers. Having just one moving violation can boost insurance rates substantially. Drivers who have received serious tickets such as DUI or willful reckless driving may find that they have to to complete a SR-22 with their state's licensing department in order to legally drive.

    The diagram below highlights how traffic violations and at-fault claims impact Volvo S40 insurance premiums for different age categories. The premium estimates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.

  • Insurance policy lapses increase insurance rates - Driving with no insurance is illegal and companies may charge more for letting your coverage cancel without a new policy in place. Not only will you pay more, failure to provide proof of insurance can result in a license revocation or jail time. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the New Jersey DMV.
  • A good credit rating can save money - Credit score can be an important factor in determining premium rates. Drivers who have excellent credit scores tend to file fewer claims than those with lower credit ratings. If your credit can be improved, you could be paying less to insure your Volvo S40 by repairing your credit.
  • Raise physical damage deductibles and save - Coverage for physical damage, also known as collision and other-than-collision, covers damage that occurs to your Volvo. A few examples of covered claims would be a dented fender, flood damage, and burglary. Comprehensive and collision coverage deductibles state the amount of money you are willing to pay out-of-pocket if a covered claim is submitted. The more of the claim you are required to pay out-of-pocket, the less money you will pay for insurance.