And why you need each type of coverage.
The Volvo XC60 boasts comfortable seating and a roomy cargo area, making it an easy pick for drivers looking for a functional compact SUV. As a driver, you face a multitude of risks on the road every day. Anything could happen, and it is often unexpected. To prepare for the worst, you should carry an assortment of coverages. Not sure where to start? An independent insurance agent can help you start shopping for a policy and select the right car insurance for your needs.
What Kind of Insurance Do You Need for Your Volvo XC60?
There are so many options to choose from when buying auto insurance. Each state has differences in minimum required coverage, so ask your independent agent what you are required to carry where you live. While certain coverages aren’t mandatory, it’s always a good idea to weigh the benefits of choosing extra protection for yourself.
Most states mandate the following coverage:
Bodily injury liability
When you are involved in an accident and it is your fault, this coverage provides reimbursement to the driver and passengers in the other vehicle for medical care and lost wages up to the limits of your policy.
Property damage liability
Property damage liability coverage pays for damage you cause to another person’s vehicle or property while you are driving.
Many states also require this coverage:
Medical payments/Personal injury protection
Personal injury protection (PIP) coverage covers the cost of expenses associated with medical treatment as well as lost wages for you and your passengers in the event of an accident.
Uninsured motorist coverage
DID YOU KNOW?
Did you know that 13% of drivers fail to carry insurance while driving?
Unfortunately, this means that more than 1 in 10 drivers are driving without insurance. This coverage protects you from uninsured drivers that cause damage when they are at fault for an accident. You can also buy uninsured and underinsured motorist coverage, which protects you against drivers whose policy limits are insufficient to cover damage.
If you fail to carry collision coverage, you may be on the hook for thousands of dollars for repairs out of pocket if you are at fault for a collision with another car or object.
Incidents such as natural disasters, fires, and storms can cause significant damage to your SUV. Imagine if a hailstorm caused thousands of dollars of damage to your Volvo. Without comprehensive coverage, you would be completely responsible for payment for the repairs.
Glass claims are filed frequently. Pebbles and other small debris can often fly up from the road and cause chips or cracks in your windshield. Glass coverage usually is available for a low monthly premium, and pays for a repair or replacement at no cost.
Do you owe more on your Volvo than it's worth? If the answer is yes, you’ll definitely want to consider buying gap coverage, which covers the difference between what you owe and what the car is worth if a total loss occurs.
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What Affects the Cost of Car Insurance for Your Volvo XC60?
If you drive a lot of miles during the year, you’ll have higher premiums than someone who drives infrequently. After all, driving more means a higher chance that you’ll need to file a claim.
If you don’t have any traffic or moving violations on your record, you’ll enjoy much lower insurance rates. After all, someone with no history of violations is much less of a risk to insure. An independent insurance agent can advise you on when any former accidents or traffic violations will fall off and stop affecting your rates.
The value of your car
Vehicles that are more valuable are generally more expensive to insure. Volvo is considered a luxury brand, which means their cars are on the higher end of the price scale compared to makes like Ford or Toyota. Your insurance premiums will reflect the higher value of your vehicle.
|Average Volvo XC60 Prices|
|2016||$13,975 - $25,025|
|2017||$18,750 - $26,775|
|2018||$31,875 - $43,350|
|2019||$33,325 - $49,025|
|2020||$40,150 - $69,500|
The safety of your Volvo XC60
Insurers take into consideration the safety rating and features of your vehicle when determining your insurance premiums. The Volvo XC60 earned an impressive overall five-star rating from the National Highway Traffic Safety Administration (NHTSA), making it an excellent choice for safety.
Where you live with your Volvo XC60
Where you live also has an impact on your insurance rates. If you live in a more populated city, you are more prone to incidents that could lead to a claim like theft or vandalism. Drivers in small towns are much less likely to experience the same risks.
Average cost to insure a Volvo XC60
The average annual cost to insure a Volvo XC60 is $2,640, making it a relatively expensive vehicle to insure. Those costs could be even higher if you are a high-risk driver, since you pose more of a risk to the insurance company.
Which states are most affordable and least affordable for car insurance?
Estimated annual car insurance premiums in the United States:
|Most expensive states:|
|Most affordable states:|
How Can You Save on Volvo XC60 Car Insurance?
Luckily, insurance companies offer plenty of ways to help you save money on car insurance, including:
- Good student discount
- Anti-theft device discount
- Affinity discount
- Good driver discount
- Multi-line discount
- Multi-vehicle discount
If you choose a higher deductible, you can lower your premiums a bit as well.
Top Insurance Companies That Insure the Volvo XC60
No two insurance companies are exactly alike. It’s important to select an insurer that's reliable, trustworthy, and committed to their customers. The U.S. Independent Insurance Agent Satisfaction Study by J.D. Power awarded the following companies high marks:
Your independent insurance agent can help you choose a company that is the right fit for your car insurance needs.
Get a Volvo XC60 Insurance Quote
There are plenty of perks to working with an independent insurance agent. Your agent has the ability to shop a wide range of companies to get you an affordable rate. An independent agent works for you, so you can be confident that your needs are taken care of. Let a Trusted Choice insurance agent get you a car insurance quote today.
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naic.org, statista, JD Power, Consumer Reports, Finder.com, NHTSA