1993 BMW 3 Series Insurance Rates

Buyers have lots of choices when searching for the lowest priced BMW 3 Series insurance. They can either spend hours contacting agents to get rate comparisons or save time using the internet to get rate quotes.

There are both good and bad ways to buy auto insurance so we’re going to tell you the quickest way to get price quotes for a BMW and locate the lowest price either online or from local insurance agents.

What determines BMW 3 Series insurance premiums?

Many different elements are part of the equation when quoting car insurance. Some of the criteria are obvious like a motor vehicle report, but others are less obvious such as your marital status and annual miles driven.Smart consumers have a good feel for the different types of things that come into play when calculating the level of your policy premiums. If you have some idea of what influences your rates, this allows you to make good choices that could result in cheaper rates.

  • Urban areas may pay more – Residing in a rural area has it’s advantages when buying auto insurance. Residents of big cities tend to have more auto accidents and a longer drive to work. Fewer drivers on the road translates into fewer accidents and lower theft and vandalism rates.
  • How many miles do you drive? – Driving more miles in a year’s time the more you’ll pay to insure your vehicle. A lot of insurance companies price each vehicle’s coverage determined by how the vehicle is used. Autos not used for work or commuting can get a lower rate than cars that get driven a lot. A policy that improperly rates your 3 Series is just wasting money. It’s a good idea to make sure your policy correctly shows the proper vehicle usage, because it can save money.
  • Gender is a factor – Statistics have proven that females tend to be a little less risky than males. It does not mean males are worse at driving than females. Females and males cause at-fault accidents in similar numbers, but guys tend to have higher claims. In addition to higher claims, males also receive more costly citations like reckless driving and DUI. Youthful male drivers are the most expensive to insure and therefore are the most expensive to insure.
  • Cautious drivers pay better costs – Being a careful driver influences premium rates substantially. Getting just one driving citation can increase rates substantially. Careful drivers get better rates compared to drivers with tickets. Drivers who have received license-revoking citations such as hit and run, DWI or reckless driving convictions may find they need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to legally drive.
  • Your job is a factor – Jobs like real estate brokers, executives and miners have the highest average rates in part from intense work requirements and incredibly demanding work hours. On the other hand, professions such as professors, athletes and homemakers have the lowest average rates for 3 Series coverage.

How to buy auto insurance

Most of the larger companies allow you to get coverage price quotes on their websites. This process is quite simple as you simply type in the coverages you want into the quote form. When complete, their rating system gets your driving and credit reports and generates a price based on the data you entered.

Online quotes streamlines rate comparisons, but having to visit different websites and fill out multiple forms can be a bit tiresome and repetitive. But it’s necessary to do this if you are searching for a better rate.

A less time-consuming method to locate the lowest prices requires only one form that gets price quotes from several companies at one time. This type of form saves time, eliminates repetitive work, and makes comparison shopping much more enjoyable and efficient. After sending the form, it gets priced with multiple companies and you can pick any or none of the quotes returned.

If a lower price is quoted, you simply finish the application and purchase coverage. It takes 15 minutes at the most and you’ll know if lower rates are available.

If you want to find out what other companies charge, click here to open in new window and input your coverage information. If you have a policy now, it’s recommended you duplicate the coverages just like they are on your policy. Using the same limits helps guarantee you’re receiving an apples-to-apples comparison for the exact same coverage.

Brand name doesn’t guarantee savings

Consumers can’t get away from all the ads that claim the lowest prices by companies like Progressive, GEICO, Allstate and State Farm. All the companies tend to make the same promise that drivers will save a bundle just by switching to them.

How can each company give you a lower rate? This is how they do it.

All the different companies have strict underwriting profiles for the type of driver that will most likely be profitable. An example of a desirable risk should be a married female, owns a home, and drives a lower-performance vehicle. A propective insured who matches that profile will probably get the lowest prices and will also save when switching.

Insureds who do not meet the requirements may receive higher premiums which usually ends up with the driver buying from a lower-cost company. The ad wording is “people that switch” not “everyone that quotes” can save as much as they claim. That’s the way companies can make those statements.

Because every company is different, drivers must compare as many free car insurance quotes as you can. It is just not possible to predict with any certainty which company will have the lowest rates.

These discounts can reduce insurance coverage rates

Insuring your fleet can be pricey, but there could be significant discounts to help bring down the price. Some of these disounts will be visible when you get a quote, but once in a while a discount must be specially asked for before you get the savings. If you aren’t receiving every discount you deserve, you are not getting the best rate possible.

  • Discount for Life Insurance – Select companies reward you with better premium rates if you take out life insurance.
  • Driver’s Education for Students – Teen drivers should complete a driver education course in school or through a local driver safety program.
  • Homeowners Savings – Just owning your own home can get you a discount since home ownership means you have a higher level of financial diligence.
  • ABS Brakes – Vehicles equipped with ABS or steering control are safer to drive and will save you 10% or more.
  • Discount for Good Grades – Maintaining excellent grades may save as much as 25% on a car insurance quote. Earning this discount can benefit you up until you turn 25.
  • Drive Safe and Save – Drivers who don’t get into accidents may save up to 50% more for 3 Series coverage than drivers with accident claims.
  • Fewer Miles Equal More Savings – Keeping the miles down on your BMW can qualify you for lower insurance coveragerates due to less chance of an accident.

One last thing about discounts, some credits don’t apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So when it seems like it’s possible to get free car insurance, you aren’t that lucky.

To locate companies with discount insurance coverage rates, click this link.

When do I need an agent’s advice?

When it comes to buying the best insurance coverage coverage, there really is not a cookie cutter policy. Each situation is unique.

Here are some questions about coverages that could help you determine whether you could use an agent’s help.

  • Is a blown tire covered by insurance?
  • Does liability extend to a camper or trailer?
  • Is my ex-spouse still covered by my policy?
  • Why do I only qualify for high-risk insurance?
  • Do I have coverage when making deliveries for my home business?
  • At what point should I drop full coverage?
  • Why is insurance for a teen driver so high?
  • Do I benefit by insuring my home with the same company?
  • If my 1993 BMW 3 Series is totaled, can I afford another vehicle?
  • Should I waive the damage coverage when renting a car?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, complete this form. It’s fast, doesn’t cost anything and you can get the answers you need.

Insurance coverage options for a BMW 3 Series

Learning about specific coverages of your policy helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

UM/UIM Coverage – This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Collision coverages – This covers damage to your 3 Series caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things such as rolling your car, colliding with a tree and backing into a parked car. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses like doctor visits, chiropractic care and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision – This covers damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers claims like rock chips in glass, a tree branch falling on your vehicle, a broken windshield and hitting a bird. The maximum amount a insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Auto liability insurance – Liability coverage provides protection from damage that occurs to other’s property or people. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 that translate to $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use a combined limit which provides one coverage limit without having the split limit caps.

Liability insurance covers claims such as structural damage, court costs, bail bonds, funeral expenses and medical services. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Shop around and save

We just showed you quite a bit of information on how to lower your 1993 BMW 3 Series insurance premium rates. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Drivers may discover the biggest savings come from the least-expected company.

While you’re price shopping online, it’s not a good idea to buy poor coverage just to save money. In too many instances, an accident victim reduced comprehensive coverage or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy the best coverage you can find at an affordable rate and still be able to protect your assets.

Consumers leave their current company for many reasons like questionable increases in premium, lack of trust in their agent, high rates after DUI convictions and high prices. It doesn’t matter why you want to switch choosing a new insurance company is pretty simple and you could end up saving a buck or two.

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Comments About 1993 BMW 3 Series Insurance

  1. Janet Swanson

    Just a quick comment on my experience. Live in Las Vegas, NV. Quoted prices online for a 1993 BMW 3 Series. Ended up at about $90 savings annually. Went with 21st Century. Was with Nationwide. Just waiting to see how claims go.

  2. Lucien Hale

    Here’s what I found out. I live just outside Omaha, Nebraska. Quoted a bunch of companies. Saved right around $20 a month. State Farm was the most affordable for me. Left Progressive to switch. I just quoted rates online.

  3. Desiree Pierce

    Affordable car insurance is a myth. I live in a small town just outside of Aurora, Colorado. Received rates from American Family, Nationwide, and Western Auto Insurance for my 3 Series and cut my rates about $110 a year. :) My 3 Series doesn’t have full coverage.

  4. Reva Gillespie

    I got quite a few price quotes for a 1993 BMW 3 Series in Birmingham, Alabama. Ended up at darn near $70 every six months with American Family.

  5. Hyon Schmidt

    Does South Carolina require me to have car insurance?

  6. Miquel Shepard

    Is Progressive cheaper than AAA in Overland Park, Kansas?

  7. Luis Charles

    Great info, thanks for posting. Live in the western part of North Charleston, South Carolina. Quoted prices from Travelers, AAA, The General, and Nationwide for my BMW and I think I saved about $10 each month. I have a couple other vehicles on the policy. Can still barely afford it.

  8. Sheena Hunt

    All companies are crooks. I’m just south of Philadelphia, Pennsylvania. I quoted with Auto-Owners, Mercury, and a few others for my 1993 BMW 3 Series and I’m now saving $18 a month.