Are you researching more affordable Volvo V50 insurance in New Orleans? Scraping up a payment for high-priced Volvo V50 insurance in New Orleans can sap your funds and force you to cut corners elsewhere. Comparing price quotes can help to lower your monthly bill.
It’s safe to assume that auto insurance companies want to prevent you from shopping around. Insureds who shop around for cheaper rates are likely to switch to a new company because there is a great chance of finding better rates. A study showed that consumers who shopped around annually saved over $3,500 over four years compared to other drivers who never shopped for cheaper rates.
If saving the most money on auto insurance in New Orleans is your objective, then having an understanding of how to find companies and compare car insurance can help simplify the task of finding more affordable coverage. Popular companies such as Allstate, Progressive and GEICO all claim big savings with fancy advertisements and it is difficult to sift through the bull and do the work needed to find the best deal.
If you’re already insured or are just looking to switch companies, use these tips to get lower rates and possibly find even better coverage. Choosing the best rates in New Orleans is not rocket science. Drivers just have to know the least time-consuming way to compare different rates on the web.
Which Volvo V50 insurance is cheapest in New Orleans, LA?
Getting a cheaper price on Volvo V50 insurance can be surprisingly simple. The only thing you need to do is take a few minutes to compare rates to find the company with low cost New Orleans car insurance quotes.
Doing online price quotes comparisons is so easy that it replaces the need to physically go to insurance agents’ offices. Comparing online rate quotes has reduced the need for local agents unless you have a need for the trained guidance of a local agency. Drivers can comparison shop your insurance online and still use a local agent.
The following companies offer price quotes in Louisiana. If your goal is to find the best cheap auto insurance in New Orleans, LA, we recommend you visit as many as you can to find the most affordable auto insurance rates.
Why you need to buy insurance
Despite the fact that insurance is not cheap in New Orleans, insurance serves an important purpose.
- The majority of states have mandatory liability insurance requirements which means the state requires a minimum amount of liability protection in order to drive the car. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Volvo V50 has a loan, most banks will make it a condition of the loan that you have insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender will be forced to insure your Volvo for a much higher rate and force you to pay the higher price.
- Insurance safeguards not only your vehicle but also your financial assets. It will also pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers legal expenses if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, your policy will cover the damage repairs after a deductible is paid.
The benefits of buying insurance outweigh the cost, especially if you ever need it. Unknowingly, the average driver overpays as much as $865 each year so shop around at every renewal to make sure the price is not too high.
Coverage analysis
The information displayed next outlines a range of rate quotes for Volvo V50 models. Learning more about how insurance prices are established can be valuable when making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $216 | $440 | $488 | $28 | $146 | $1,318 | $110 |
| V50 AWD T5 R-Design | $216 | $506 | $488 | $28 | $146 | $1,384 | $115 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Table data does not factor in specific zip code location which can revise premiums substantially.
Raise deductibles and save
When comparing car insurance rates, the most common question is how high should the deductibles for physical damage be. The figures shown below may help to illustrate the rate differences when you buy lower versus higher physical damage coverage deductibles. The first rate quote example uses a $100 physical damage deductible and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $452 | $850 | $464 | $28 | $140 | $1,959 | $163 |
| V50 AWD T5 R-Design | $452 | $980 | $464 | $28 | $140 | $2,089 | $174 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| V50 2.4I | $330 | $574 | $464 | $28 | $140 | $1,536 | $128 |
| V50 AWD T5 R-Design | $330 | $662 | $464 | $28 | $140 | $1,624 | $135 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Premium costs do not factor in specific location information which can raise or lower auto insurance rates greatly.
We can derive from the above data that using a $100 deductible costs roughly $37 more each month or $444 every year across all Volvo V50 models than requesting the higher $500 deductible. Since you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you usually have more than 11 months between claim filings, you would save more money if you decide on a higher deductible.
The illustration below illustrates how your deductible choice and can change Volvo V50 insurance premiums for different age groups. The rate quotes are based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.
How careless driving impacts New Orleans car insurance rates
The illustration below highlights how traffic violations and fender-benders impact Volvo V50 car insurance rates for each different age group. The premiums assume a married male driver, full coverage, $500 deductibles, and no policy discounts are applied.
Difference between full coverage and liability only rates
The diagram below visualizes the comparison of Volvo V50 insurance rates with full coverage compared to only the Louisiana minimum liability coverage. The price estimates are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no policy discounts are applied.
Should you pay for full coverage or liability only?
There is no clear-cut rule that works best for making the decision to drop full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Volvo V50 book value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after the policy deductible has been paid. If you are paying over $800 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some situations where eliminating full coverage is not recommended. If you still owe a portion of the original loan, you have to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.
Save money with these discounts
Some insurers do not list the entire discount list very clearly, so we took the time to find both well-publicized in addition to some of the lesser obvious credits available to you.
- Paperwork-free – Many insurance companies will provide an incentive for completing your application on your computer.
- Military Rewards – Having an actively deployed family member can result in better rates.
- Good Student – Excelling in school could provide a savings of up to 20% or more. Many companies even apply the discount to college students up until you turn 25.
- Homeowners Savings – Simply owning a home can save you money since owning and maintaining a home demonstrates responsibility.
- Switch and Save Discount – Some insurance companies give discounts for switching companies before your current expiration date. It’s a savings of about 10%.
While discounts sound great, it’s important to understand that most of the big mark downs will not be given to all coverage premiums. Most only cut specific coverage prices like liability and collision coverage. Despite the fact that it seems like you could get a free insurance policy, insurance companies wouldn’t stay in business.
The illustration below illustrates the comparison of Volvo V50 insurance premiums with and without discounts. The premiums assume a male driver, no violations or accidents, Louisiana state minimum liability limits, full 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, homeowner, multi-policy, safe-driver, and claim-free discounts applied.
Insurance companies that may include most of the discounts above are:
When quoting, ask each company or agent which discounts they offer. A few discounts may not apply in New Orleans. To locate insurance companies that offer some of these discounts in New Orleans, click here.
Independent versus exclusive insurance agents
Some people would prefer to visit with an insurance agent and that is just fine! Licensed agents can help you build your policy and help in the event of a claim. An additional benefit of comparing auto insurance online is that you can find the lowest rates and still have a local agent. Supporting local agencies is especially important in New Orleans.
To make it easy to find an agent, after completing this short form, your insurance coverage information is instantly submitted to agents in your area that give free quotes and help you find cheaper coverage. It makes it easy because there is no need to visit any agencies due to the fact that quote results will go directly to you. If you have a need to quote rates from a specific auto insurance provider, feel free to jump over to their website and fill out the quote form the provide.
When searching for a local agent, there are two different types of agents and how they function. Insurance agencies in New Orleans are either independent agents or exclusive agents. Both insure your vehicles properly, but it is important to understand why they differ since it could factor into which type of agent you select.
Independent Agents
Agents of this type are not restricted to one company so they can quote policies through many different auto insurance companies enabling the ability to shop coverage around. To move your coverage to a new company, your agent can switch companies and you won’t have to switch agencies. If you need cheaper auto insurance rates, it’s a good idea to include multiple independent agents to have the most options to choose from.
Shown below is a short list of independent insurance agents in New Orleans that can give you pricing information.
Bob Swanson Insurance
824 Elmwood Park Blvd #295 – New Orleans, LA 70123 – (504) 734-0305 – View Map
Olympus Insurance Agency
101 W Robert E Lee Blvd #405 – New Orleans, LA 70124 – (504) 535-7755 – View Map
Underwriters Insurance Agency
10709 Chef Menteur Hwy #1 – New Orleans, LA 70127 – (504) 302-0620 – View Map
Exclusive Auto Insurance Agents
Agents in the exclusive channel work for only one company like Allstate and State Farm. They generally cannot provide prices from multiple companies so they have no alternatives for high prices. Exclusive insurance agents are very knowledgeable on their company’s products which can be an advantage.
Below is a list of exclusive insurance agents in New Orleans willing to provide comparison quotes.
Carl Mixon – State Farm Insurance Agent
4716 Canal St – New Orleans, LA 70119 – (504) 482-7897 – View Map
Ed Buckley – State Farm Insurance Agent
4822 Prytania St – New Orleans, LA 70115 – (504) 891-2886 – View Map
Allstate Insurance: Daniel Rahman
701 Dante St c – New Orleans, LA 70118 – (504) 861-2700 – View Map
Finding the right insurance agent requires more thought than just the bottom line cost. Here are some questions you might want to ask.
- Do the agents have professional certifications like CPCU or CIC?
- If you have an accident, will your rates go up?
- Do they specialize in personal lines auto insurance in New Orleans?
- Are they giving you every discount you deserve?
- Where would glass claims be handled in New Orleans?
New Orleans car insurance companies ranked
Buying coverage from the highest-rated auto insurance company is difficult considering how many companies are available to choose from in New Orleans. The ranking information listed below could help you select which auto insurers you want to consider purchasing from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
A conclusion for your insurance search
Throughout this article, we presented a lot of ways to compare Volvo V50 insurance premium rates in New Orleans. The key concept to understand is the more providers you compare, the better likelihood of getting cheaper New Orleans car insurance quotes. Consumers may even find the lowest priced insurance comes from a company that doesn’t do a lot of advertising. Smaller companies may have significantly lower prices on certain market segments than the large multi-state companies such as Allstate, GEICO and Progressive.
Some insurance providers may not provide rates over the internet and many times these small, regional companies only sell coverage through independent insurance agents. More affordable insurance in New Orleans can be sourced from both online companies and from local insurance agents, so you need to compare both so you have a total pricing picture.
While you’re price shopping online, make sure you don’t buy less coverage just to save a little money. In too many instances, an accident victim reduced full coverage only to discover later that it was a big error on their part. The goal is to find the BEST coverage at an affordable rate, but don’t skip important coverages to save money.
How to buy discount Volvo V50 insurance in New Orleans
The most effective way to find affordable quotes for Volvo V50 insurance is to compare quotes once a year from providers who provide car insurance in New Orleans. Price quotes can be compared by following these steps.
- First, get an understanding of auto insurance and the modifications you can make to prevent high rates. Many factors that result in higher prices like careless driving and a not-so-good credit rating can be eliminated by making minor driving habit or lifestyle changes.
- Second, get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from one company like Progressive and State Farm, while independent agents can quote rates from multiple insurance companies.
- Third, compare the new rates to your existing rates and see if you can save money. If you can save some money and switch companies, ensure coverage does not lapse between policies.
The key aspect of shopping around is to use identical coverage information on each quote request and to quote with as many carriers as you can. This enables a level playing field and a complete rate analysis.
Additional detailed information is located by following these links:
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Who Has the Cheapest New Orleans Auto Insurance for Drivers Over Age 70? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Hyundai Elantra in New Orleans? (FAQ)
- How Much is New Orleans Auto Insurance for Drivers with Bad Credit? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Chevrolet Equinox in New Orleans? (FAQ)
- What Auto Insurance is Cheapest for Police Officers in New Orleans? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Tools for Teen Driving Safety (State Farm)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)