How Much Does 2001 BMW 3 Series Car Insurance Cost?

Searching for better car insurance rates for your BMW 3 Series? Overpriced BMW 3 Series insurance can deplete your savings and put a big crunch on your finances. Comparing rate quotes is a smart way to ensure you are getting the best deal.

There is such a variety of auto insurance companies to purchase coverage from, and although it’s nice to have a selection, it makes it harder to compare company pricing.

This information will help you learn how to effectively get price quotes and some tips to save money. If you have car insurance now, you stand a good chance to be able to lower your premiums substantially using this strategy. Consumers just need to learn how to shop for insurance coverage online.

Compare free insurance coverage price quotes

Getting more affordable 2001 BMW 3 Series insurance coverage pricing can be surprisingly simple. Just spend a few minutes comparing price quotes from different insurance companies. You can get a good selection of rate quotes using one of these methods.

1. The most efficient method to get the best comparison quotes is a comparison rater form click here to open form in new window. This method prevents you from having to do separate quote forms for each company you want a rate for. Filling out one form gets coverage cost estimates from many national carriers.
2. A less efficient way to find lower rates is to manually visit each company website and get a separate price quote. For examples sake, we’ll pretend you want comparison quotes from State Farm, Allstate and Geico. To find out each rate you need to visit each site and punch in your information repeatedly, which can get rather old. For a list of links to companies insuring cars in your area, click here.
3. The old school method to comparison shop is driving to each insurance agency near you. The ability to get quotes online reduces the need to sit down with an agent unless you’re the type of person who wants the personal advice of an agent trained in personal lines coverage. Some companies do allow you to find lower rates online and get advice from an agent in your area.

It’s up to you how you get prices quotes, just ensure you’re using nearly identical coverages and limits for each price quote. If the quotes have different coverage information you can’t possibly make a fair rate comparison.

Discounts to earn cheap car insurance rates

The cost of insuring your cars can be expensive, but you may find discounts to help bring down the price. A few discounts will automatically apply at quote time, but some discounts are required to be specially asked for before they will apply. If you aren’t receiving every discount possible, you are throwing money away.

• Student Discount for Driver Training – Make teen driver coverage more affordable by requiring them to sucessfully take a drivers education course as it can save substantially.
• First Accident Forgiveness – but a handful of insurance companies will allow you to have one accident before they charge you more for coverage if your claims history is clear before the accident.
• Discounts for Safe Drivers – Safe drivers can save up to 40% or more on their auto insurance quote for 3 Series insurance compared to accident prone drivers.
• Telematics Data Discounts – Insureds that choose to allow driving data collection to scrutinize where and when they drive by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks as long as they are good drivers.
• Mature Driver Discount – If you’re over the age of 55, you may qualify for a discount up to 10% for 3 Series insurance.
• Federal Government Employee – Active or retired federal employment can save as much as 8% for 3 Series insurance with select insurance companies.
• Clubs and Organizations – Being in a professional or civic organization can get you a small discount on your bill.

Keep in mind that most of the big mark downs will not be given to your bottom line cost. Some only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears you can get free auto insurance, you’re out of luck.

A list of companies and some of the discounts are:

• Geico may include discounts for emergency military deployment, air bags, good student, multi-policy, and seat belt use.
• SAFECO policyholders can earn discounts including accident prevention training, safe driver, bundle discounts, teen safety rewards, teen safe driver, anti-theft, and drive less.
• State Farm offers premium reductions for Drive Safe & Save, anti-theft, good student, Steer Clear safe driver discount, multiple policy, and safe vehicle.
• MetLife may offer discounts for good student, accident-free, claim-free, good driver, and defensive driver.
• 21st Century offers discounts for good student, 55 and older, air bags, early bird, and defensive driver.
• Progressive offers discounts including good student, online signing, multi-vehicle, homeowner, multi-policy, online quote discount, and continuous coverage.

When getting free auto insurance quotes, it’s a good idea to every prospective company which credits you are entitled to. Savings may not be offered in your area.

Tailor your insurance coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there isn’t really a “best” method to buy coverage. Each situation is unique so your insurance should reflect that These are some specific questions may help you determine if your insurance needs may require specific advice.

• Is my state a no-fault state?
• Is a fancy paint job covered?
• Can I afford to pay high deductible claims out of pocket?
• Are my friends covered when driving my 2001 BMW 3 Series?
• Do I need medical payments coverage since I have good health insurance?
• What is UM/UIM insurance?
• Do I need rental car coverage?
• What if I owe more than I can insure my car for?
• Am I covered if hit by an uninsured driver?

If you don’t know the answers to these questions, you may need to chat with an agent. To find an agent in your area, fill out this quick form or click here for a list of insurance companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.

What affects BMW 3 Series insurance rates?

Many things are used when you get a price on insurance. Some factors are common sense such as your driving history, although others are more transparent such as your credit history or your commute time.An important part of buying insurance is that you know a few of the rating criteria that come into play when calculating your policy premiums. If you understand what determines premiums, this empowers consumers to make smart changes that could help you find lower premium levels.

• Liability claims can be big – Liability insurance will afford coverage if you are responsible for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense coverage starting from day one. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
• Teenagers are high risk – Youthful drivers tend to be careless and easily distracted when driving so they pay higher car insurance rates. Older insureds have been proven to be more responsible, statistically cause fewer accidents and tend to be get fewer driving tickets.
• Commute or pleasure use – The higher the miles on your BMW every year the more it will cost to insure it. Most insurance companies calculate prices based on their usage. Autos that are left in the garage qualify for better rates than vehicles that have high annual mileage. A policy that improperly rates your 3 Series may be costing you higher rates. It’s a smart idea to ensure your policy is rated on the correct usage.
• Safer cars means cheaper insurance – Safer cars cost less to insure. Vehicles built for safety help reduce the chance of injuries in an accident and fewer injuries translates directly to fewer claims and more competitive rates for policyholders.
• Credit score impact car insurance premiums – Having a bad credit score can be a huge factor in determining premium rates. If your credit rating could use some work, you could potentially save money when insuring your 2001 BMW 3 Series if you clean up your credit. Insureds with very good credit scores tend to file fewer claims as compared to drivers with poor credit scores.
• Cheaper prices for being claim-free – If you are a frequent claim filer, you can look forward to either policy cancellation or increased premiums. Companies award the best rates to people who are claim-free. Your car insurance is intended to be relied upon for larger claims.
• Save money with higher deductibles – The deductibles you choose define how much you are willing to pay out-of-pocket in the event of a claim. Insurance for physical damage, also known as collision and other-than-collision, covers damage that occurs to your car. Some examples of covered claims are a windshield broken by a bird, damage from fire, and having a roll-over accident. The larger the amount you choose to pay out-of-pocket, the less money you will pay for car insurance for 3 Series insurance.
• Your location is important – Being located in less populated areas is a good thing when buying car insurance. Residents of big cities have to deal with much more traffic and more severe claims. Fewer people corresponds to lower accident rates in addition to lower liability claims

Brand name doesn’t guarantee savings

Consumers constantly see and hear ads for auto insurance savings from the likes of Allstate, Geico and Progressive. They all say the same thing about saving some big amount after switching your policy.

How does every auto insurance company charge lower premium rates?

All companies have underwriting criteria for a prospective insured they prefer to insure. A good example of a desirable insured should be between the ages of 40 and 55, has no prior claims, and the vehicle is rated for pleasure use. Anybody who matches those parameters will probably get the lowest prices and will most likely cut their rates substantially.

Potential insureds who don’t meet those standards may receive a higher premium which leads to the customer not purchasing. Company advertisements say “people that switch” but not “everyone who gets a quote” can save as much as they claim. This is how companies can truthfully make claims that they all have the best car insurance rates.

Because of these techniques, you really should get auto insurance quotes from several different companies. It’s just not possible to know which insurance companies will have the best rates for your profile.

Parts of your car insurance policy

Understanding the coverages of your policy aids in choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. These are the usual coverages found on the average car insurance policy.

Medical payments and PIP coverage – Med pay and PIP coverage kick in for bills for things like doctor visits, ambulance fees, chiropractic care and X-ray expenses. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available and may carry a deductible

Collision coverages – Collision insurance pays for damage to your 3 Series resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as sustaining damage from a pot hole, colliding with another moving vehicle, hitting a parking meter, crashing into a ditch and colliding with a tree. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Liability coverages – This can cover injuries or damage you cause to a person or their property in an accident. This coverage protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Another option is a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage protects against things such as repair costs for stationary objects, court costs and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible.

Comprehensive auto coverage – Comprehensive insurance covers damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like rock chips in glass, vandalism, damage from a tornado or hurricane and a tree branch falling on your vehicle. The most your car insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants as well as damage to your BMW 3 Series.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Usually these coverages are identical to your policy’s liability coverage.

Spend less. Save more.

As you go through the steps to switch your coverage, it’s not a good idea to sacrifice coverage to reduce premiums. In many instances, consumers will sacrifice liability coverage limits only to regret that the savings was not a smart move. Your strategy should be to buy enough coverage for the lowest price, but don’t skip important coverages to save money.

We just presented a lot of techniques to get a better price on 2001 BMW 3 Series insurance. The most important thing to understand is the more price quotes you have, the better your chances of lowering your car insurance rates. You may even find the lowest priced insurance coverage comes from some of the smallest insurance companies. They may only write in your state and offer lower car insurance rates than the large multi-state companies such as State Farm, Geico and Nationwide.

Lower-priced 2001 BMW 3 Series insurance is attainable both online in addition to many insurance agents, and you should compare price quotes from both to have the best rate selection. There are still a few companies who don’t offer the ability to get a quote online and most of the time these regional insurance providers prefer to sell through independent agencies.

For more information, link through to the articles below:

• Understanding your Policy (NAIC.org)
• Keeping Children Safe in Crashes Video (iihs.org)
• Understanding Rental Car Insurance (Insurance Information Insitute)
• Credit Impacts Car Insurance Rates (State Farm)
• Auto Insurance 101 (About.com)