Cheap 1997 BMW 8 Series Insurance Rates

Are you drained from not being able to afford to pay car insurance each month? You are in the same boat as many other consumers. Big-name insurance companies like Geico, 21st Century and Progressive promote their brand names with advertising and it is challenging if not impossible to see past the geckos and flying pigs and find the best price available.

It’s a good idea to price shop coverage occasionally since insurance prices are adjusted regularly by insurance companies. Just because you found the best rates for 8 Series coverage last year you can probably find a better premium rate now. Don’t believe everything you read about car insurance out there, but by reading this article, you’re going to learn the best ways to lower your car insurance premiums.

How to lower your insurance premiums

Many factors are used in the calculation when you get a price on insurance. Some of the criteria are obvious like your driving record, but other criteria are less obvious such as whether you are married or your financial responsibility.

• Always have insurance – Having an insurance coverage lapse will be a fast way to increase your rates. In addition to paying higher rates, getting caught without coverage might get you a hefty fine and possibly a revoked license. You may then have to submit proof of financial responsibility or a SR-22 with your state department of motor vehicles.
• Low mileage costs less – The more you drive in a year the more you will pay for insurance. A lot of companies charge rates based on how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates as compared to vehicles used primarily for driving to work. It’s a good idea to make sure your insurance policy reflects how each vehicle is driven, because it can save money. An improperly rated 8 Series is throwing money out the window.
• Do you really need to file that insurance claims? – Insurance companies give the lowest premiums to policyholders who only file infrequent claims. If you tend to file frequent claims, you can definitely plan on higher premiums or even policy non-renewal. Auto insurance is designed for major claims that would cause financial hardship.
• Females tend to be lower risk – Statistics show females are less aggressive when driving. However, don’t assume that men are WORSE drivers than women. They both cause accidents in similar numbers, but men have costlier accidents. In addition to higher claims, males also get cited for more serious violations such as DWI and reckless driving. Young men ages 16 to 20 are several times more likely to be in an accident and therefore are the most expensive to insure.
• Cautious drivers pay the best prices – Just one citation may cause rates to rise by twenty percent. Good drivers pay lower auto insurance prices compared to bad drivers. Drivers with multiple citations such as DUI, reckless driving or excessive speeding may be required to maintain a SR-22 with their state DMV in order to prevent their license from being revoked.
• Stress out and pay more – Do you have a high-stress occupation? Careers like doctors, business owners and accountants are shown to have the highest rates because of intense work-related stress and lengthy work days. On the flip side, professions such as professors, students and retirees generally pay rates lower than average for 8 Series coverage.
• Bundle policies and save money – Some insurers will give a discount to buyers who carry more than one policy, otherwise known as a multi-policy discount. This can amount to as much as ten percent or more Even if you already get this discount, it’s always a smart idea to shop around to guarantee you are still saving the most.
• High credit means lower premiums – A driver’s credit score factor in your rate calculation. So if your credit leaves room for improvement, you could be paying less to insure your 1997 BMW 8 Series by repairing your credit. Drivers who have very good credit scores tend to be more responsible and file fewer claims than drivers with bad credit.

How to buy insurance coverage online

Many insurance companies like Progressive, Allstate and Geico provide prices for coverage from their websites. Obtaining pricing is quite simple as all you need to do is type in your coverage information into a form. Behind the scenes, the company’s rating system requests your driving and credit reports and quotes a price. This streamlines rate comparisons, but having to visit each company’s website and repetitively complete many quote forms is not the best way to spend an afternoon. But it’s very important to have as many quotes as possible if you want to find better prices.

Quote rates the easy way

A less time-consuming method to get multiple rate quotes uses one simple form that gets price quotes from several companies at one time. It’s a real time-saver, eliminates repetitive work, and makes comparison shopping a lot less work. After your information is entered, it is quoted and you are able to buy any of the price quotes you receive.

If a lower price is quoted, you can simply submit the application and buy the policy. The whole process takes less than 15 minutes and could lower your rates considerably.

To find out how much you’re overpaying now, click here to open in a new tab and enter your information. To compare your current rates, we recommend you copy the limits and deductibles identical to your current policy. Using the same limits helps guarantee you are getting a fair comparison based on the exact same insurance coverage.

Drivers can save with these premium-slashing discounts

Some providers do not advertise every policy discount very well, so the following list contains some of the more common in addition to some of the lesser obvious discounts that may be available.

• 55 and Retired – Drivers that qualify as senior citizens may be able to get better insurance rates for 8 Series coverage.
• Auto/Life Discount – Insurance companies who offer life insurance give lower prices if you buy a life policy as well.
• Good Students Pay Less – Maintaining excellent grades could provide a savings of up to 20% or more. Most companies allow this discount well after school through age 25.
• Safe Driver Discounts – Drivers without accidents may save up to 50% more for 8 Series coverage compared to accident prone drivers.
• Distant Student Discount – Any of your kids who are enrolled in higher education away from home and do not have access to a covered vehicle could qualify for this discount.

We need to note that most discounts do not apply the the whole policy. Some only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, insurance companies aren’t that generous.

To choose providers with the best discounts, click here.

Do I need special coverages?

When buying proper insurance coverage, there really is no “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. For instance, these questions can help discover if you might need professional guidance.

• Does my personal policy cover me when driving out-of-state?
• How do I buy GAP insurance?
• Do I pay less for low miles?
• Will filing a claim cost me more?
• Does having multiple vehicles earn me a discount?
• What if I total my 1997 BMW 8 Series and owe more than it’s worth?

If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.

Insurance coverage considerations

Learning about specific coverages of insurance helps when choosing appropriate coverage and proper limits and deductibles. Insurance terms can be impossible to understand and reading a policy is terribly boring. Listed below are the usual coverages offered by insurance companies.

UM/UIM Coverage – This coverage 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 BMW 8 Series.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Normally these limits are similar to your liability insurance amounts.

Comprehensive or Other Than Collision – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as hail damage, theft, hitting a deer, vandalism and fire damage. The maximum amount your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Collision coverage – This coverage will pay to fix damage to your 8 Series from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as hitting a parking meter, driving through your garage door and crashing into a building. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Liability car insurance – Liability insurance can cover damage or injury you incur to people or other property. This coverage protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.

Liability can pay for claims such as loss of income, structural damage and medical expenses. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible.

Medical costs insurance – Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses like rehabilitation expenses, chiropractic care, hospital visits and doctor visits. The coverages can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

More quotes mean more savings

As you restructure your insurance plan, you should never buy poor coverage just to save money. There have been many cases where drivers have reduced uninsured motorist or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. The aim is to buy enough coverage at the best cost, not the least amount of coverage.

You just read many ways to save on 1997 BMW 8 Series insurance. The most important thing to understand is the more you quote auto insurance, the better chance you’ll have of finding the cheapest auto insurance. You may even discover the biggest savings come from the smaller companies. They may only write in your state and offer lower prices compared to the large companies like Allstate, Geico and Progressive.

For more information, link through to the following helpful articles:

• Choosing an Insurance Company (Insurance Information Insitute)
• Credit and Insurance Scores (Insurance Information Insitute)
• Neck Injury FAQ (iihs.org)
• Coverage Information (Progressive Insurance)