Saving money on Volvo V50 insurance in Tulsa may be slightly frustrating for drivers not familiar with quoting coverage prices online. Consumers have so many agents and companies to choose from that it can easily become hard work to find more affordable Volvo V50 insurance rates.
It’s well known that insurance companies want to prevent you from shopping around. People who perform rate comparisons will, in all likelihood, move their business because there is a great chance of finding lower rate quotes. A recent study showed that consumers who regularly shopped around saved about $70 a month compared to drivers who never compared other company’s rates.
If finding the best rates on Volvo V50 insurance is your objective, then knowing the best way to shop and compare insurance rates can help simplify the task of finding more affordable coverage.
Finding Volvo V50 insurance in Tulsa
When quoting auto insurance, remember that making a lot of price comparisons helps increase your odds of locating better pricing.
The companies shown below offer price comparisons in Tulsa, OK. If you want to find cheap car insurance in OK, we recommend you get rate quotes from several of them to find the cheapest auto insurance rates.
Car insurance does more than just repair your car
Even though Tulsa V50 insurance rates can get expensive, paying for car insurance is required by state law in Oklahoma and it also provides benefits you may not be aware of.
- Most states have minimum mandated liability insurance limits which means you are required to carry a specific minimum amount of liability coverage in order to get the vehicle licensed. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Volvo has a lienholder, it’s guaranteed your bank will make it a condition of the loan that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Volvo at a much higher premium rate and make you pay the higher premium.
- Car insurance preserves not only your car but also your financial assets. It will also reimburse you for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of buying car insurance more than offset the price you pay, especially if you ever need it. Unknowingly, the average driver is currently overpaying as much as $700 annually so it’s recommended you shop around at every policy renewal to ensure rates are competitive.
Insurance analysis for a Volvo V50
The coverage table below outlines different insurance coverage prices for Volvo V50 models. Understanding how insurance policy premiums are calculated can benefit drivers when making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $418 | $928 | $584 | $34 | $174 | $2,138 | $178 |
| V50 AWD T5 R-Design | $418 | $1068 | $584 | $34 | $174 | $2,278 | $190 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium costs do not factor in zip code location which can raise or lower prices noticeably.
Higher deductibles save money
When comparing insurance rates, the most common question is how high should your deductibles be. The following insurance rates can help you understand the difference in cost when you choose different comp and collision deductibles. The first data set uses a $250 deductible for physical damage and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $392 | $688 | $448 | $26 | $134 | $1,713 | $143 |
| V50 AWD T5 R-Design | $392 | $792 | $448 | $26 | $134 | $1,817 | $151 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $242 | $432 | $448 | $26 | $134 | $1,282 | $107 |
| V50 AWD T5 R-Design | $242 | $498 | $448 | $26 | $134 | $1,348 | $112 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in Tulsa location which can influence coverage prices considerably.
Based on this data, we can arrive at the conclusion that using a $250 deductible costs an average of $37 more each month or $444 every year across all Volvo V50 models than buying the higher $1,000 deductible. Because you would be required to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 20 months between claims, you would more than likely save some money going with the higher deductible.
Impact of citations and accidents on Tulsa insurance rates
The example below illustrates how violations and at-fault fender-benders can influence Volvo V50 insurance costs for different categories of driver ages. The data is based on a married male driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
Volvo V50 liability rates compared to full coverage
The diagram below compares Volvo V50 auto insurance rates with full coverage compared to only the Oklahoma minimum liability coverage. The premium estimates are based on no accidents or driving violations, $1,000 deductibles, marital status is single, and no policy discounts are applied.
Guidelines for dropping full coverage
There is no specific rule to delete full coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage 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 V50 book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after you pay the deductible. If you are paying over $200 annually for your policy with full coverage, then you might consider buying liability only.
There are some cases where buying only liability insurance is not recommended. If you still owe money on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Cheap Tulsa insurance rates with discounts
Some companies don’t necessarily list every discount available in an easy-to-find place, so we took the time to find some of the best known and also the lesser-known credits available to bring down your rates.
- Telematics Data – Policyholders that allow their insurance company to look at driving habits by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates as long as the data is positive.
- Discounts for Government Workers – Active or former government employment could qualify for a slight premium decrease but check with your company.
- Own a Home – Simply owning a home may trigger a policy discount on insurance because of the fact that having a home requires personal responsibility.
- One Accident Forgiven – This one isn’t a discount, but a few companies such as Allstate, Progressive, and GEICO will let one accident slide before your rates go up so long as you are claim-free prior to the accident.
- Membership in Organizations – Belonging to certain professional organizations can get you a small discount when shopping for insurance.
- Full Payment Discount – By paying your policy upfront as opposed to paying monthly you may have a lower total premium amount.
Don’t be surprised that most credits do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy. Any amount of discount will lower the amount you pay for coverage.
The diagram below visualizes the comparison of Volvo V50 insurance rates with and without discounts applied to the policy rates. The premiums assume a male driver, no claims or violations, Oklahoma state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, homeowner, multi-policy, and safe-driver discounts applied.
A list of companies and some of the premium reductions they offer can be read below.
- State Farm policyholders can earn discounts including passive restraint, driver’s education, defensive driving training, accident-free, and Steer Clear safe driver discount.
- GEICO offers discounts for good student, air bags, multi-vehicle, five-year accident-free, seat belt use, and emergency military deployment.
- SAFECO has discounts for drive less, anti-theft, teen safety rewards, safe driver, bundle discounts, accident prevention training, and anti-lock brakes.
- Farmers Insurance may offer discounts for homeowner, switch companies, youthful driver, electronic funds transfer, teen driver, distant student, and pay in full.
- AAA may have discounts that include good driver, pay-in-full, anti-theft, multi-policy, AAA membership discount, education and occupation, and good student.
- USAA discounts include vehicle storage, loyalty savings, defensive driver, multi-vehicle, and family discount.
Before purchasing a policy, check with each company or agent which discounts they offer. Discounts may not apply in every state. To locate insurers with the best discounts in Oklahoma, follow this link.
Auto insurance agents near you
Many people still like to talk to an insurance agent and that is a smart decision One of the great benefits of getting free rate quotes online is you can get the best rates and still have an agent to talk to.
To make it easy to find an agent, after completing this form (opens in new window), your insurance coverage information is emailed to local insurance agents that can give you free Tulsa car insurance quotes for your auto insurance coverage. You won’t need to contact any insurance agencies due to the fact that quote results will go directly to your email. You’ll get the best rates and an insurance agent to talk to. If you need to get a price quote from a specific company, feel free to visit that company’s website and give them your coverage information.
Finding the right company needs to be determined by more than just the premium amount. These are some valid questions you should ask.
- Does the agency have a good rating with the Better Business Bureau?
- Where would glass claims be handled in Tulsa?
- How often do they review policy coverages?
- How does the company pay claims for a total loss?
- Will high miles depreciate repair valuations?
- Will you get a loaner vehicle if you car is being repaired?
- Who is covered by the car insurance policy?
- Can you contact them at any time?
When researching a reputable insurance agent or broker, you must know there are a couple different agency structures and how they work. Auto insurance agents can either be exclusive agents or independent agents.
Exclusive Insurance Agencies
Agents of this type can only write with one company like Allstate, State Farm and Farmers Insurance. They usually cannot provide other company’s prices so they are skilled at selling on more than just price. Exclusive agents are trained well on their products and sales techniques which aids in selling service over price. Consumers sometimes choose to use a exclusive agent partially due to loyalty to the company and the convenience of having all coverages with one company.
Shown below are exclusive insurance agencies in Tulsa that can give you price quotes.
- Farmers Insurance – John Neuschwander
6016 S Memorial Dr – Tulsa, OK 74145 – (918) 576-6180 – View Map - Mark Fugett – State Farm Insurance Agent
4949 S Mingo Rd – Tulsa, OK 74146 – (918) 628-1900 – View Map - Brian Cannon – State Farm Insurance Agent
11320 E 32nd St – Tulsa, OK 74146 – (918) 627-0977 – View Map
Independent Auto Insurance Agencies
Independent insurance agents can sell policies from many different companies and that gives them the ability to insure through many companies and potentially find a lower price. If they find a lower price, your agent can just switch to a different company which requires no work on your part.
When shopping rates, it’s a good idea to include at least one independent agent to maximize your price options. Most also have access to small regional insurance companies who may have lower rates.
The following are independent insurance agencies in Tulsa that can give you rate quotes.
- Best Insurance
1825 S Garnett Rd – Tulsa, OK 74128 – (918) 234-0022 – View Map - Scott Mccoy Insurance Agency, Inc.
7030 S Yale Ave Suite #109 – Tulsa, OK 74136 – (918) 894-5551 – View Map - A-Affordable Insurance
1635 S Harvard Ave – Tulsa, OK 74112 – (918) 749-9500 – View Map
When to get professional advice
Always keep in mind that when comparing coverage online or from an agent, there really is no one-size-fits-all type of policy. Your needs are unique to you so your insurance needs to address that.
For instance, these questions may help you determine if you could use an agent’s help.
- Does car insurance cover theft of personal property?
- Why am I required to get a high-risk car insurance policy?
- How high should deductibles be on a Volvo V50?
- What is an SR-22 filing?
- Does liability extend to a camper or trailer?
- Who sells insurance for high-risk drivers?
If you don’t know the answers to these questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.
Auto insurance coverages and their meanings
Learning about specific coverages of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverage types found on most auto insurance policies.
Liability – This protects you from damage that occurs to a person or their property by causing an accident. Liability coverage has 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 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.
Liability insurance covers claims such as attorney fees, structural damage, bail bonds and medical expenses. How much liability coverage do you need? That is a personal decision, but consider buying as much as you can afford. Oklahoma requires drivers to carry at least 25/50/25 but it’s recommended drivers buy better liability coverage.
The chart below demonstrates why buying low liability limits may not provide you with enough coverage.
UM/UIM Coverage – This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your Volvo V50.
Since a lot of drivers only purchase the least amount of liability that is required (which is 25/50/25), their limits can quickly be used up. So UM/UIM coverage should not be overlooked.
Comprehensive or Other Than Collision – Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage pays for claims like damage from flooding, vandalism, a broken windshield and hail damage. The most your auto insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Collision – This coverage will pay to fix damage to your V50 resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision can pay for claims such as crashing into a building, sustaining damage from a pot hole, driving through your garage door, scraping a guard rail and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also bump up the deductible on your V50 to get cheaper collision coverage.
Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses like funeral costs, X-ray expenses, dental work and chiropractic care. They can be utilized in addition to your health insurance plan or if you are not covered by health insurance. Coverage applies to you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Quote. Compare. Save.
We just covered a lot of information how to find affordable Volvo V50 insurance in Tulsa. The key thing to remember is the more rate comparisons you have, the more likely it is that you will get a better rate. Consumers may even find the lowest priced insurance comes from some of the lesser-known companies. They may cover specific market segments cheaper as compared to the big name companies such as Allstate or State Farm.
There are still a few companies who don’t offer price quotes online and most of the time these smaller providers only sell coverage through independent agents. Cheaper insurance in Tulsa is definitely available online as well as from independent agents in Tulsa, so you should be comparing quotes from both to have the best selection.
How to find more affordable Volvo V50 insurance in Tulsa
Truthfully, the best way to find low-cost prices for Volvo V50 insurance in Tulsa is to compare prices regularly from different companies who can sell car insurance in Oklahoma. Drivers can shop around by following these guidelines.
Step 1: Read and learn about how auto insurance works and the steps you can take to prevent high rates. Many risk factors that drive up the price like at-fault accidents, speeding tickets, and an imperfect credit history can be controlled by making minor driving habit or lifestyle changes.
Step 2: Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like Progressive or Allstate, while independent agencies can give you price quotes for a wide range of companies.
Step 3: Compare the quotes to your current policy to see if a cheaper price is available. If you find a lower rate, make sure coverage does not lapse between policies.
A tip to remember is to use identical coverage information on every quote request and and to get rate quotes from all possible companies. Doing this guarantees an accurate price comparison and a complete price analysis.
Much more information about insurance in Oklahoma can be read at the links below
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Who Has the Cheapest Tulsa Car Insurance Rates for Postal Workers? (FAQ)
- Who Has Affordable Auto Insurance Rates for 17 Year Olds in Tulsa? (FAQ)
- Who Has Affordable Car Insurance for a Learners Permit in Tulsa? (FAQ)
- Who Has Affordable Auto Insurance for a Ford Escape in Tulsa? (FAQ)
- Who Has Affordable Tulsa Car Insurance Quotes for a Nissan Altima? (FAQ)
- Who Has Affordable Tulsa Auto Insurance Rates for Safe Drivers? (FAQ)
- How Much are Auto Insurance Rates for Uber Drivers in Tulsa? (FAQ)
- Auto Insurance Learning Center (State Farm)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Event Data Recorders FAQ (iihs.org)