It takes a few minutes, but the best way to find cheaper car insurance rates is to start doing a yearly price comparison from insurance carriers in Louisville. You can shop around by following these guidelines.
- It will benefit you to learn about the coverage provided by your policy and the steps you can take to prevent expensive coverage. Many rating criteria that result in higher rates such as your driving record and a negative credit score can be controlled by making minor driving habit or lifestyle changes.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like Progressive and State Farm, while independent agencies can quote prices from many different companies. View companies
- Compare the quotes to your existing policy to see if a cheaper rate is available. If you can save money and switch companies, make sure coverage is continuous and does not lapse.
An essential thing to point out is that you use the same deductibles and limits on every quote request and and to analyze all possible companies. This ensures a fair price comparison and and a good selection of different prices.
Amazingly, a recent NerdWallet.com study showed that most drivers kept their policy with the same company for over three years, and 38% of drivers have never compared rate quotes at all. Kentucky drivers could save themselves approximately $631 a year just by comparing rates, but most undervalue the benefits if they bought a different policy.
Most companies such as State Farm and Allstate allow you to get prices for coverage on the web. Comparing prices online for Volvo S40 insurance in Louisville is fairly straightforward as you just type in your personal and coverage information as detailed in the form. Upon sending the form, the quote system gets reports for credit and driving violations and gives you a price quote.
This makes it a lot easier to compare rates and it’s also necessary to get many rate quotes if you want to find cheap rates.
To fill out one form to compare multiple rates now, compare rates from the companies below. If you currently have coverage, we recommend you enter deductibles and limits exactly as shown on your declarations page. Using the same limits helps guarantee you will get a fair comparison for the exact same coverage.
The providers in the list below have been selected to offer price comparisons in Louisville, KY. If your goal is to find cheap auto insurance in Kentucky, we recommend you get price quotes from several of them in order to find the most affordable rates.
Why you need insurance for your Volvo vehicle
Even though Louisville S40 insurance rates can get expensive, insuring your vehicle serves a purpose in several ways.
- Almost all states have minimum liability requirements which means the state requires specific minimum amounts of liability coverage in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Volvo S40 with a loan, it’s most likely the lender will have a requirement that you buy insurance to protect their interest in the vehicle. If you let the policy lapse, the lender may have to buy a policy to insure your Volvo at a more expensive rate and require you to pay for it.
- Insurance safeguards both your car and your personal assets. It will also cover most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance will also pay attorney fees if you are sued as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of buying insurance greatly outweigh the cost, particularly when you have a large claim. The average driver in America is wasting up to $865 each year so we recommend shopping around at every renewal to be sure current rates are still competitive.
Premium rates and analysis
The coverage information below showcases estimates of insurance policy prices for Volvo S40 models. Learning a little about how auto insurance prices are figured can assist in making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $176 | $316 | $326 | $20 | $98 | $936 | $78 |
| S40 T5 | $176 | $316 | $326 | $20 | $98 | $936 | $78 |
| S40 T5 AWD R-Design | $176 | $316 | $326 | $20 | $98 | $936 | $78 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Information does not factor in vehicle location which can raise or lower premiums considerably.
Can higher deductibles save money?
One common question asked by Louisville drivers is how high should the deductibles for physical damage be. The tables below can help show the differences in price when you choose different policy deductibles. The first rate comparisons uses a $250 physical damage coverage deductible and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $284 | $500 | $326 | $20 | $98 | $1,253 | $104 |
| S40 T5 | $284 | $500 | $326 | $20 | $98 | $1,253 | $104 |
| S40 T5 AWD R-Design | $284 | $500 | $326 | $20 | $98 | $1,253 | $104 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| S40 2.4I | $232 | $404 | $326 | $20 | $98 | $1,080 | $90 |
| S40 T5 | $232 | $404 | $326 | $20 | $98 | $1,080 | $90 |
| S40 T5 AWD R-Design | $232 | $404 | $326 | $20 | $98 | $1,080 | $90 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Information does not factor in the specific area where the vehicle is garaged which can impact auto insurance rates greatly.
Using the premium rates above, we can conclude that using a $250 deductible would cost the average driver about $14 more each month or $168 a year than buying the higher $500 deductible. Since you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 18 months between claim filings, you would more than likely save some money if you decide on a higher deductible.
The example below demonstrates how deductible levels and can affect Volvo S40 yearly insurance costs for different age categories. The data is based on a married male driver, full coverage, and no discounts are factored in.
How violations and accidents impact rates
The chart below highlights how traffic violations and at-fault collisions impact Volvo S40 insurance costs for each age group. The data assumes a married female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
Volvo S40 full coverage rates compared to liability only
The illustration below shows the difference between Volvo S40 insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The costs are based on no tickets, no at-fault accidents, $100 deductibles, single status, and no discounts are taken into consideration.
When to drop full coverage
There isn’t a written rule for dropping full coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your Volvo S40 claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $6,000 after paying your policy deductible. If you are currently paying more than $600 annually for full coverage, then you may want to consider only buying liability coverage.
There are some scenarios where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Louisville insurance discounts for a Volvo S40
Auto insurance companies do not advertise all available discounts very clearly, so below is a list both well-publicized and also the more inconspicuous discounts that you can inquire about if you buy Louisville auto insurance online.
- Anti-theft Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems are less likely to be stolen so companies will give you a small discount.
- Accident Waiver – This isn’t a discount exactly, but companies like Progressive, State Farm and GEICO will forgive one accident before they charge you more for coverage so long as you haven’t had any claims prior to being involved in the accident.
- Discount for Good Grades – Performing well in school may save you up to 25%. Earning this discount can benefit you up to age 25.
- Senior Discount – Mature drivers can possibly qualify for a small decrease in premiums.
- Own a Home and Save – Owning a house in Louisville can help you save on car insurance because maintaining a house requires personal responsibility.
- Government Employee Discount – Simply working for the federal government may qualify for a discount when you quote Louisville auto insurance but check with your company.
A little disclaimer on discounts, many deductions do not apply to your bottom line cost. A few only apply to specific coverage prices like comp or med pay. So when the math indicates you can get free auto insurance, you won’t be that lucky.
The chart below illustrates the comparison of Volvo S40 insurance rates with and without discounts being applied to the rates. The rates are based on a male driver, no claims or violations, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-policy, multi-car, claim-free, and safe-driver discounts applied.
A few popular companies and a selection of discounts can be found below.
- State Farm offers discounts for safe vehicle, Drive Safe & Save, Steer Clear safe driver discount, student away at school, good driver, accident-free, and passive restraint.
- Progressive may include discounts for multi-policy, multi-vehicle, continuous coverage, online quote discount, online signing, and good student.
- Progressive offers premium reductions for homeowner, multi-policy, good student, online signing, continuous coverage, and online quote discount.
- MetLife has savings for claim-free, defensive driver, good driver, good student, multi-policy, accident-free
- Farm Bureau policyholders can earn discounts including youthful driver, multi-policy, renewal discount, driver training, and good student.
- GEICO may offer discounts for daytime running lights, defensive driver, multi-policy, emergency military deployment, anti-theft, and multi-vehicle.
- SAFECO discounts include anti-lock brakes, teen safety rewards, anti-theft, drive less, bundle discounts, and safe driver.
Check with each company or agent the best way to save money. Some discounts listed above might not be offered in your state. If you would like to view insurers with the best Volvo S40 insurance discounts in Kentucky, click here.
How do I know if I need professional advice?
When quoting and comparing adequate coverage, there really isn’t a “best” method to buy coverage. Coverage needs to be tailored to your specific needs and your insurance should be unique as well.
For example, these questions could help you determine if you might need professional guidance.
- When should I have rental car coverage?
- What does roadside assistance cover?
- Is my ex-spouse still covered by my policy?
- Do I pay less for low miles?
- Is a driver training discount available?
- How can I get high-risk coverage after a DUI?
- Am I insured when driving a different vehicle?
- What is medical payments coverage?
- Does my policy cover me if I wreck while driving under the influence?
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area.
Best car insurance company in Louisville
Buying coverage from the best insurance provider is hard considering how many different companies there are to choose from in Kentucky. The ranking information in the lists below may help you analyze which car insurance companies you want to consider comparing rates from.
Top 10 Louisville Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive