Trying to find low-cost insurance for a BMW Z3 can turn out to be a painful process, but you can learn a few tricks to save time.
There are more efficient ways to compare insurance rates and you need to know the absolute fastest way to compare rates for a new or used BMW and get the cheapest rates from both online companies and local agents.
It’s important to compare rates before your next renewal since prices change frequently. Even if you got the best deal for Z3 insurance a few years ago a different company probably has better premium rates today. Forget anything you know (or think you know) about insurance because we’re going to show you the quickest way to properly buy coverages and cut your premium.
Performing a rate comparison is a ton of work if you don’t know the easiest way. You could spend the better part of a day talking about coverages with insurance companies in your area, or you can stay home and use the internet to maximize your effort.
Many of the larger companies participate in a marketplace where prospective buyers submit one quote, and each company returns a rated price based on that data. This saves time by eliminating quote forms for every insurance company. To participate in this free quote system, click here (opens in new window).
The only downside to using this type of system is you can’t choose which companies to receive prices from. If you wish to select individual companies to compare, we have a page of the cheapest insurance companies in your area. View list of insurance companies.
Whichever method you choose, do your best to use identical quote information on every quote you get. If your comparisons have different liability limits you will not be able to get a fair rate comparison.
Many different elements are used when premium rates are determined. Some factors are common sense like a motor vehicle report, although some other factors are less obvious such as your marital status or your commute time.Consumers need to have an understanding of the factors that aid in calculating the rates you pay for insurance coverage. When consumers understand what influences your rates, this enables informed choices that can help you get lower rates.
Car insurance can cost a lot, but you may be missing some discounts to help bring down the price. Some discounts will apply when you quote, but some must be specifically requested prior to getting the savings.
A little note about advertised discounts, most discount credits are not given the the whole policy. A few only apply to specific coverage prices like comp or med pay. Even though it appears all the discounts add up to a free policy, it’s just not the way it works.
Companies and a summarized list of policyholder discounts are outlined below.
When getting free insurance coverage quotes, it’s a good idea to each insurance company to give you their best rates. Discounts might not apply in your area. To choose providers that offer some of these discounts, click here.
When buying coverage for your vehicles, there isn’t really a “best” method to buy coverage. Everyone’s needs are different.
These are some specific questions can help discover whether your personal situation would benefit from professional advice.
If you’re not sure about those questions but one or more may apply to you then you might want to talk to an insurance agent. To find an agent in your area, take a second and complete this form. It only takes a few minutes and can provide invaluable advice.
Understanding the coverages of your auto insurance policy helps when choosing the best coverages for your vehicles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance provide coverage for bills such as rehabilitation expenses, nursing services and X-ray expenses. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Comprehensive auto coverage
Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as damage from a tornado or hurricane, vandalism and hitting a deer. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently these coverages are similar to your liability insurance amounts.
Collision coverage pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers things like colliding with another moving vehicle, rolling your car, crashing into a building and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.
Coverage for liability
Liability insurance will cover injuries or damage you cause to a person or their property by causing an accident. This coverage protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers claims like medical expenses, repair bills for other people’s vehicles, emergency aid, funeral expenses and loss of income. How much liability coverage do you need? That is a decision to put some thought into, but buy as much as you can afford.
Budget-conscious 2002 BMW Z3 insurance is definitely available online and with local insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some auto insurance companies may not provide rates over the internet and many times these small, regional companies prefer to sell through local independent agents.
Insureds who switch companies do it for many reasons like not issuing a premium refund, lack of trust in their agent, questionable increases in premium or delays in paying claims. Regardless of your reason for switching companies, choosing a new company is actually quite simple.
As you prepare to switch companies, don’t be tempted to buy poor coverage just to save money. In many instances, consumers will sacrifice full coverage to discover at claim time that the savings was not a smart move. Your goal is to find the BEST coverage at the best possible price, not the least amount of coverage.
Much more information about auto insurance can be read at these links:
I got quite a few price quotes for a 2002 BMW Z3 in Rutland, VT. Ended up at roughly $80 every six months with Auto-Owners. Book value doesn’t justify full coverage anymore.
I’m in the south part of Tacoma, WA. Got rates from State Farm, AAA, Eastwood, and GMAC for my 2002 BMW Z3 and saved about $100 a year. I get multi-vehicle and multi-policy discounts. :)
Enjoyed the article. I live on the west side of Norfolk, Virginia. I quoted with Sentry, Erie, Progressive, and AAA for my Z3 and saved just over $70 a year. Left Encompass to switch. Bought it from an online quote. When should I drop full coverage?
If you’re from Los Angeles, California get quotes from State Farm and Progressive and you might save.
My 2002 BMW Z3 is faster than yours.
I’m just east of Tulsa, OK. Quoted with Sentry, Esurance, Progressive, and AIG Insurance for my 2002 BMW Z3 and saved $72 a year. I have a teen driver too. Just liability coverage since it’s getting old.
Checking in from Lincoln, Nebraska. Not sure of all the companies but I ended up saving about $20 each month. Even increased my liability limits. My BMW doesn’t have full coverage.
For me, 21st Century was by far the cheapest in Albuquerque, NM.
I compared a lot of rate quotes for a 2002 BMW Z3 in Buffalo, New York. Ended up at right around $80 every six months with AIG Insurance. It’s easy to compare rates online now.
I live just to the south of New Orleans, LA. Quoted with AIG Insurance, Farmers, and Safeco for my BMW and cut my rates about $70 a year. I’m a pretty low risk driver. Did it all online. Liability only on my Z3.
Can you buy custom paint coverage for a 2002 BMW Z3?
I chose to switch to Progressive from AIG Insurance. I live in Spokane, WA. I used their online quote form to compare rates. When should I drop full coverage?
Will State Farm raise rates for a windshield claim?
I’ve bought from Allstate forever. Cheapest rates in Lewiston, ME.
Lots of good stuff here. Checking in from Baton Rouge, Louisiana. Got prices from GEICO, Eastwood, and The General for my BMW and saved just over $100 a year. It’s still not cheap enough.
I live south of Philadelphia, Pennsylvania. Quoted quotes from 21st Century, American Family, and some I forget for my 2002 BMW Z3 and I think I saved about $30 each month. Switched homeowners coverage too.