Cheap 2001 BMW Z8 Insurance Rates

Drivers have a choice when trying to find affordable BMW Z8 insurance. They can either spend hours contacting agents trying to get quotes or use the internet to get rate quotes.

There is a right way and a wrong way to buy car insurance and you need to know the quickest way to price shop coverage for a BMW and find the lowest price.

This information will tell you how to effectively get price quotes and some tips to save money. If you have car insurance now, you should be able to reduce your rates substantially using these techniques. Vehicle owners just need to understand how to find the lowest price online.

How much is insurance?

Cutting your insurance rates isn’t really that difficult. All you need to do is take time comparing price quotes to see which company has inexpensive insurance coverage quotes. Comparing prices online can be done by following the guidelines below.

  • The easiest and least time consuming way consumers can analyze rates is to use a rate comparison form (click to open form in new window). This quick form prevents you from having to do separate quotation requests to each individual insurance company. One simple form gets coverage cost estimates direct from many companies. This is by far the quickest method.
  • A more time consuming way to shop for insurance online is spending the time to visit the website for every company you want to comare and get a separate price quote. For sake of this example, let’s assume you want to compare rates from USAA, Safeco and Farmers. In order to compare rates, you need to go to every website and enter your information, which is why the first method is quicker. For a handy list of car insurance company links in your area, click here.

Whichever way you choose to compare rates, ensure you are comparing apples-to-apples coverage limits and deductibles with every price quote. If you compare differing limits you can’t possibly determine the best price for your BMW Z8.

How you can control BMW Z8 insurance prices

Multiple criteria are used in the calculation when you get a price on insurance. Most are fairly basic such as your driving record, but other criteria are not as apparent like your vehicle usage or your commute time.

The itemized list below are some of the items used by companies to determine your rates.

  • Certain jobs pay higher insurance coverage rates – Did you know your occupation can influence how much you pay for insurance coverage? Careers like military generals, executives and accountants generally have higher rates than the rest of us due to high stress and lots of time spent away from family. On the other hand, occupations such as actors, students and retirees pay the least for Z8 coverage.
  • Age of drivers impacts premiums – Youthful drivers are statistically shown to be inattentive behind the wheel therefore insurance coverage rates are much higher. If you’ve ever had to add a beginning driver to your policy can cause a big jump in price. More experienced drivers are more cautious drivers, file fewer claims , and are generally more financially stable.
  • Keep insurance coverage claims to a minimum – If you file a lot of claims you can definitely plan on much higher rates or policy non-renewal. Companies give better rates to policyholders who are not frequent claim filers. Auto insurance is intended for the large, substantial claims.
  • Five star safety rating saves money – Safe vehicles can get you lower premiums. These vehicles reduce the chance of injuries and reduced instances of injuries translates into fewer and smaller insurance claims and cheaper rates on your policy. If your BMW is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
  • Lower rates for married couples – Walking down the aisle can actually save you money on your insurance coverage policy. Marriage is viewed as being more mature than a single person and insurance companies like that drivers who are married are more cautious.
  • Gender as a rate factor – Statistics demonstrate that men are more aggressive behind the wheel. It does not mean women are BETTER drivers than men. Both genders are responsible for auto accidents in similar percentages, but the males cause more damage. In addition to higher claims, males also have more aggressive citations like driving under the influence (DUI). Male drivers age 16 to 19 generally have the highest accident percentage and therefore have the most expensive insurance coverage rates.
  • More than one policy can earn a discount – The majority of insurers allow discounts to clients that purchase more than one policy, otherwise known as a multi-policy discount. The amount of the discounts can be ten or even fifteen percent. Even though this discount sounds good, it’s in your best interest to compare other insurance prices to help ensure you have the lowest rates.There is a good possibility that you can save even more than the discount by splitting coverages up.
  • Liability – A critical coverage on your policy, liability insurance will provide protection in the event that a jury decides you are liable for causing personal injury or damage in an accident. This coverage provides legal defense starting from day one. Liability is cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.

Do you qualify for discounts?

Insurance can cost an arm and a leg, but you might already qualify for some discounts to help bring down the price. Some of these disounts will be visible at the time of purchase, but a few must be inquired about before they will apply.

  • Student in College – Children who live away from home at college and don’t have a car may be insured at a cheaper rate.
  • E-sign Discounts
  • Drive Safe and Save – Insureds who avoid accidents can save as much as half off their rates for Z8 coverage compared to rates paid by drivers with frequent claims.
  • Payment Discounts – If you can afford to pay the entire bill instead of monthly or quarterly installments you can avoid the installment charge.
  • ABS and Traction Control Discounts – Cars and trucks with ABS and/or traction control can stop better under adverse conditions and therefore earn up to a 10% discount.
  • Discount for Life Insurance – Some insurance carriers give a small discount if you purchase life insurance from them.
  • Theft Deterent Discount – Cars and trucks optioned with advanced anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.

Drivers should understand that some of the credits will not apply to the entire policy premium. A few only apply to individual premiums such as physical damage coverage or medical payments. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way.

Companies and some of their more popular discounts can be found below.

  • GEICO may include discounts for defensive driver, anti-lock brakes, anti-theft, daytime running lights, federal employee, membership and employees, and emergency military deployment.
  • Auto-Owners Insurance may offer discounts for paperless, company car, teen driver, safe vehicle, anti-lock brakes, good student, and multi-policy.
  • American Family offers discounts for accident-free, multi-vehicle, Steer into Savings, air bags, defensive driver, TimeAway discount, and mySafetyValet.
  • Esurance includes discounts for anti-theft, claim free, safety device, renters, emergency road assistance, and anti-lock brakes.
  • Progressive offers discounts including online signing, good student, multi-policy, continuous coverage, homeowner, multi-vehicle, and online quote discount.
  • State Farm policyholders can earn discounts including Steer Clear safe driver discount, anti-theft, driver’s education, defensive driving training, safe vehicle, good student, and multiple policy.
  • AAA has discounts for good student, good driver, AAA membership discount, anti-theft, multi-car, multi-policy, and pay-in-full.

Double check with each insurance company which credits you are entitled to. Depending on the company, some discounts may not apply in your area. To choose car insurance companies that have a full spectrum of discounts, click this link.

Don’t assume everyone needs the same car insurance coverage

When choosing adequate coverage for your vehicles, there really is no single plan that fits everyone. Every insured’s situation is different.

These are some specific questions could help you determine if your insurance needs might need an agent’s assistance.

  • Should I waive the damage coverage when renting a car?
  • When would I need rental car insurance?
  • Does having multiple vehicles earn me a discount?
  • What vehicles should carry emergency assistance coverage?
  • Will I lose any money if I cancel my policy before it expires?
  • Can I still get insurance after a DUI?
  • Are split liability limits better than a combined single limit?
  • What is no-fault insurance?
  • Can my teen driver be rated on a liability-only vehicle?

If you can’t answer these questions, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form. It only takes a few minutes and can provide invaluable advice.

What car insurance coverages do you need?

Having a good grasp of your policy can be of help when determining which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses like EMT expenses, funeral costs and chiropractic care. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage

This covers damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as damage from a tornado or hurricane, falling objects, a tree branch falling on your vehicle, hitting a bird and a broken windshield. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Auto liability

This will cover injuries or damage you cause to people or other property in an accident. It protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for claims like repair bills for other people’s vehicles, pain and suffering, loss of income, medical expenses and structural damage. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford.

Collision coverage

Collision insurance covers damage to your Z8 resulting from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision can pay for things like crashing into a ditch, scraping a guard rail, colliding with a tree, driving through your garage door and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and damage to your BMW Z8.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

The best insurance company isn’t always the cheapest

People switch companies for a variety of reasons including poor customer service, policy non-renewal, delays in responding to claim requests or even denial of a claim. Whatever your reason, finding a great new company is pretty easy and you might even save some money in the process.

We just covered a lot of techniques to shop for 2001 BMW Z8 insurance online. It’s most important to understand that the more times you quote, the better chance you’ll have of finding cheaper insurance coverage. Consumers could even find that the lowest rates come from a small mutual company.

As you quote insurance coverage, make sure you don’t buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to find the BEST coverage at the lowest possible cost but still have enough coverage for asset protection.

To read more, link through to the articles below:

Comments About 2001 BMW Z8 Insurance

  1. Lucia Simmons

    I live on the west side of Wichita, KS and for me State Farm had the lowest quote. Not sure if rates are cheaper online or through an agent. I’m thinking about dropping full coverage though.

  2. Gloria Pugh

    Not sure if this is cheap. Live in the eastern part of Philadelphia, PA. Received prices from GEICO, Auto-Owners, and some I forget for my Z8 and cut my rates about $110 a year. Left Mercury to switch. I just carry liability insurance.

  3. Lolita Jackson

    I can’t pay high rates. I live on the south side of Norman, Oklahoma. Got free quotes online for a 2001 BMW Z8. Ended up at about $70 savings annually. Went with State Farm. I increased coverages a little too. I used their online quote form to compare rates.

  4. Joaquin Ford

    I got decent rates for a 2001 BMW Z8 in San Diego, CA. Ended up at about $80 every six months with Amica. Moved home policy as well. I think I’ll get rid of full coverage next time.

  5. Nikki Davis

    I live on the east side of Gaithersburg, MD. Quoted with Hartford, AIG Insurance, Sentry, and a couple others for my BMW and I’m now saving $21 a month. Was with Erie. Moved home policy as well.

  6. Corliss Stevens

    Cheaper not always better. From northwest of Fairbanks, AK. Not sure of all the companies but I ended up saving about $30 each month. Only insure liability on my BMW.

  7. Kasie Mayo

    I got a good deal I think. I’m just east of Hartford, CT. Quoted with AAA, Safeco, and a few others for my BMW and saved just over $60 a year. Left Encompass to switch. They have free quotes online. I just carry liability insurance.

  8. Nelle Barr

    Corporate greed I’m telling you. I’m in the suburbs of Biloxi, MS. Don’t remember every company but I ended up saving about $30 each month. LOL

  9. Jeff Rosales

    State Farm is pretty cheap in Oregon! :)

  10. Belle Mcpherson

    I live in Rapid City, South Dakota. Got car insurance quotes with 21st Century, Liberty Mutual, and Encompass for my BMW and I think I saved about $20 each month. Left The General to switch. Thankfully I’m not a high risk driver.

  11. Bell Oconnor

    Enjoyed the article. Lifelong resident of San Jose, CA. Quoted a bunch of companies. Saved roughly $10 a month. 21st Century was the most affordable for me. Left Amica to switch. It’s only liability tho.

  12. Juliette Morton

    Hope my car insurance gets cheaper. I live just outside Missoula, MT. I don’t recall every quote but I ended up saving about $20 each month. Was with AAA. I get lower rates because of my clean driving record. Just go online and compare their rates. I’m thinking about dropping full coverage though.

  13. Dawn Bishop

    21st Century is decent in Biloxi, Mississippi.