Save on 2002 BMW 3 Series Insurance Quotes

Want cheaper car insurance rates? Drivers have a choice when trying to find the lowest priced BMW 3 Series insurance. You can either waste hours calling around to compare prices or use the internet to get rate quotes.

There is a right way and a wrong way to compare car insurance rates and you need to know the proper way to quote coverages for a BMW and find the cheapest rates.

Insurance coverage rates and discounts

Car insurance companies don’t always publicize all possible discounts in a way that’s easy to find, so the following is a list of a few of the more common in addition to some of the lesser obvious credits available to bring down your rates.

• Driver Training Discounts – Participating in a defensive driver class may get you a small discount and make you a better driver.
• No Claims – Claim-free drivers can save substantially when compared to accident-prone drivers.
• Military Rewards – Having an actively deployed family member may lower your insurance coverage rates slightly.
• Switch and Save Discount – A few larger companies allow discounts for renewing your policy before your current policy expires. The savings is around 10%.
• Accident Forgiveness – This one isn’t a discount, but some insurance companies will turn a blind eye to one accident before they charge you more for coverage so long as you haven’t had any claims for a certain period of time.
• E-sign Discounts
• Mature Driver Discount – If you’re over the age of 55, you are able to get a discount up to 10% for 3 Series insurance.
• Data Collection Discounts – Insureds that choose to allow driving data collection to study where and when they drive by using a telematics device such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they show good driving skills.

Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to the entire cost. A few only apply to the cost of specific coverages such as comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, nobody gets a free ride.

Popular insurance coverage companies and some of the discounts are included below.

• Geico offers premium reductions for emergency military deployment, defensive driver, five-year accident-free, multi-vehicle, anti-lock brakes, military active duty, and membership and employees.
• USAA offers discounts including defensive driver, military installation, driver training, safe driver, good student, new vehicle, and annual mileage.
• Progressive discounts include continuous coverage, online signing, online quote discount, homeowner, good student, and multi-vehicle.
• American Family may have discounts that include multi-vehicle, good student, Steer into Savings, mySafetyValet, and bundled insurance.
• Esurance includes discounts for multi-car, multi-policy, defensive driver, DriveSense, anti-lock brakes, and anti-theft.
• Farmers Insurance has discounts for pay in full, alternative fuel, electronic funds transfer, business and professional, early shopping, good student, and mature driver.
• State Farm may include discounts for good driver, anti-theft, safe vehicle, multiple autos, and good student.

When quoting, ask every prospective company which credits you are entitled to. All car insurance discounts may not apply to policies in your area. To see insurance coverage companies that can offer you the previously mentioned discounts, click here to view.

How your 3 Series insurance premiums are determined

One of the most helpful ways to save on insurance coverage is to to have a grasp of the different types of things that play a part in calculating insurance coverage rates. If you have some idea of what determines base rates, this helps enable you to make changes that may reward you with cheaper rates. Many things are part of the calculation when quoting car insurance. A few of the factors are predictable such as traffic violations, but other criteria are not as apparent such as whether you are married and annual miles driven.

• Save money with excellent credit – Having a good credit score is a big factor in your rate calculation. So if your credit history is low, you may save money insuring your 2002 BMW 3 Series by improving your rating. Insureds that have excellent credit tend to file fewer claims than drivers who have lower credit scores.
• Your address can push rates up or down – Choosing to live in areas with lower population has it’s advantages when buying insurance coverage. Residents of big cities regularly have much more traffic and more time behind the wheel. Lower population means a lower chance of having an accident in addition to fewer liability claims.
• Prices impacted by vehicle usage – The more miles you rack up on your BMW annually the more you’ll pay to insure your vehicle. Almost all companies charge to insure your cars based upon how the vehicle is primarily used. Autos that sit idle most of the time receive better premium rates than vehicles that have high annual mileage. Improper usage on your 3 Series may be costing you. Make sure your vehicle rating is rated on the proper vehicle usage, because improper ratings can cost you money.
• Don’t skimp on liability protection – The liability section of your policy is the protection in the event that a court rules you are at fault for an accident. This coverage provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
• Getting married is a good thing – Getting married helps lower the price on insurance coverage. Marriage demonstrates that you tend to be more responsible it has been statistically shown that drivers who are married file infrequent claims.
• Remove unneeded extra policy coverages – There are quite a few additional coverages that sound like a good idea at the time if you don’t pay attention. Insurance for things like roadside assistance, accident forgiveness, and additional equipment coverage may not be needed and are just wasting money. They may sound like good ideas when talking to your agent, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
• Rates can drop if you have more than one policy – Lots of insurance companies give better rates to customers who have multiple policies with them such as combining an auto and homeowners policy. Discounts can add up to as much as ten percent or more Even with this discount applied, drivers will still want to compare rates to confirm you are receiving the best rates possible. Consumers may find lower rates even if you have your coverage with different companies
• Your employer and insurance coverage rates – Did you know your occupation can influence how much you pay for insurance coverage? Careers such as fire fightersairline pilots and accountants have higher premiums than the average policyholder in part from intense work requirements and lots of time spent away from family. On the other hand, professions such as actors, students and performers pay the least for 3 Series insurance.

Situations that may require an agent’s advice

When choosing adequate coverage, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that might point out if your insurance needs might need professional guidance.

• Should I file a claim if it’s only slightly more than my deductible?
• What should my uninsured motorist coverage limits be in my state?
• Do I benefit by insuring my home with the same company?
• Am I insured when driving a different vehicle?
• Why is insurance for a teen driver so high?
• Should I buy full coverage?
• What is the rate difference between pleasure use and commuting?
• Am I covered if I hit a deer?
• What if I don’t agree with a claim settlement offer?

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Save $481 a year! What?

Consumers get pounded daily by advertisements that promise big savings for switching from companies such as Progressive, Allstate and Geico. All the companies have a common claim of big savings if you get a free car insurance quote and switch to them.

How is it possible that every company can save you money? Here is the trick they use.

Most companies offer their best rates for the type of driver that makes them money. For example, this type of risk profile might be described as between 30 and 50, has a clean driving record, and chooses high deductibles. Someone who matches that profile receive the lowest rate quotes and have a good chance to save if they switch.

Consumers who don’t meet this ideal profile will probably have to pay higher rates which usually ends up with the prospect going elsewhere. The trick companies use is to say “customers that switch” but not “everyone who gets a quote” can save as much as they claim. That’s the way insurance companies can make claims like that.

Because every company is different, drivers should compare rate quotes every year. It’s just not possible to know which insurance company will provide you with the cheapest car insurance rates.

Learn about insurance coverages for a 2002 BMW 3 Series

Knowing the specifics of insurance can be of help when determining which coverages you need at the best deductibles and correct limits. Insurance terms can be confusing and reading a policy is terribly boring.

Liability auto insurance

Liability coverage provides protection from damage or injury you incur to people or other property that is your fault. This coverage protects you from legal claims by others, and doesn’t 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 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability coverage protects against things such as attorney fees, repair bills for other people’s vehicles, repair costs for stationary objects, emergency aid and medical services. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.

Coverage for collisions

Collision insurance covers damage to your 3 Series caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims such as colliding with another moving vehicle, scraping a guard rail and hitting a mailbox. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Comprehensive auto coverage

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like fire damage, hail damage and damage from getting keyed. The most you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Medical payments and PIP coverage

Med pay and PIP coverage reimburse you for short-term medical expenses for things like doctor visits, pain medications, ambulance fees and X-ray expenses. They are utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage gives you protection from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries and damage to your BMW 3 Series.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently these coverages are identical to your policy’s liability coverage.

Stretch your dollar

People leave their current company for a variety of reasons including high rates after DUI convictions, unfair underwriting practices, delays in responding to claim requests or policy cancellation. It doesn’t matter why you want to switch finding a new company can be easier than you think.

We just presented a lot of techniques to compare 2002 BMW 3 Series insurance rates online. The most important thing to understand is the more quotes you get, the better your chances of lowering your car insurance rates. You may even find the most savings is with a smaller regional carrier.

Low-cost 2002 BMW 3 Series insurance can be purchased from both online companies in addition to local insurance agencies, so you need to shop car insurance with both so you have a total pricing picture. Some companies do not offer online rate quotes and most of the time these smaller companies sell through independent agents.

For more information, feel free to browse the following helpful articles:

• Where can I buy Insurance? (Insurance Information Insitute)
• Understanding Limits and Deductibles (Allstate)
• Safety Features for Your New Car (State Farm)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)