Save on 2003 BMW 7 Series Insurance Quotes

Are you burned out from not being able to scrape enough together to pay your auto insurance bill each month? Your situation is no different than the majority of other consumers. With so many choices, it is hard for the average consumer to pick a more affordable company.

The method we recommend to compare insurance rates in your area takes advantage of the fact almost all companies provide online access to compare rate quotes. To begin a comparison, all you need to do is spend a couple of minutes providing details like whether you drive to work or school, if you require a SR-22, the ages of drivers, and what your job is. The data is then submitted to multiple companies and they return rate quotes instantly.

You may qualify for discounts

Car insurance is not an enjoyable expense, but there’s a good chance there are discounts that many people don’t even know exist. Some of these disounts will be visible when you complete an application, but less common discounts must be inquired about before they will apply.

• Distant Student Discount – Children who live away from home to go to college and do not take a car to college could get you a discount.
• Telematics Data – Insureds that choose to allow data collection to track when and where they use their vehicle by using a telematic data system such as State Farm’s In-Drive could see a rate decrease if their driving habits are good.
• Braking Control Discount – Vehicles that have anti-lock braking systems can avoid accidents so companies give up to a 10% discount.
• Discount for New Cars – Insuring a new car can save you some money compared to insuring an older model.
• Own a Home – Being a homeowner can help you save on car insurance because it is proof of financial responsibility.
• Senior Citizen Rates – Older drivers can possibly qualify for lower premium rates on 7 Series insurance.

It’s important to understand that some of the credits will not apply to the entire cost. Some only apply to the cost of specific coverages such as comp or med pay. So even though it sounds like having all the discounts means you get insurance for free, companies don’t profit that way.

Larger car insurance companies and a summarized list of policyholder discounts are included below.

• Mercury Insurance has savings for age of vehicle, multi-policy, good student, accident-free, and type of vehicle.
• Farmers Insurance includes discounts for youthful driver, mature driver, electronic funds transfer, teen driver, bundle discounts, multi-car, and pay in full.
• Farm Bureau policyholders can earn discounts including good student, safe driver, multi-policy, driver training, and youthful driver.
• State Farm has discounts for anti-theft, driver’s education, multiple autos, accident-free, Steer Clear safe driver discount, safe vehicle, and student away at school.
• Allstate may include discounts for auto/life discount, resident student, farm vehicle, good payer, economy car, 55 and retired, and EZ pay plan discount.
• Geico offers premium reductions for five-year accident-free, emergency military deployment, anti-theft, anti-lock brakes, daytime running lights, and good student.

Before purchasing a policy, check with every prospective company the best way to save money. Some discounts listed above might not apply in your state. To locate insurance companies with the best car insurance discounts, click here.

Informed drivers save on insurance

It’s important that you understand the rating factors that aid in calculating your premiums. If you understand what impacts premium levels, this allows you to make educated decisions that could result in lower premium levels. Many different elements are part of the equation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but others are not quite as obvious such as your credit history or your vehicle rating.

• Does insurance coverage cost less for females? – Statistics show women tend to be less risk to insure than men. Now that doesn’t mean men are worse drivers. Males and females are in auto accidents at about the same rate, but guys have accidents that have higher claims. Men also tend to get cited for more serious violations like DUI and reckless driving.
• Premiums are affected by your credit score – Credit score is a big factor in your rate calculation. Insureds with good credit tend to be better risks to insure than drivers who have poor credit. Therefore, if your credit history leaves room for improvement, you may save money insuring your 2003 BMW 7 Series if you improve your credit rating.
• Driving citations mean higher premiums – Getting just one ticket can boost insurance rates substantially. Drivers who don’t get tickets have lower premiums compared to bad drivers. People who have dangerous violations such as DUI, reckless driving or excessive speeding are required to complete a SR-22 with their state’s department of motor vehicles in order to continue driving.
• You might get higher rates if you are single – Being married may earn you lower rates on insurance coverage. It generally demonstrates drivers are more stable financially it has been statistically shown that married couples file fewer claims.
• Cheaper prices for prior coverage – Driving with no insurance is a big no-no and as a result your rates will increase for letting your insurance expire. Not only will you pay higher rates, getting caught without coverage will get you a revoked license or a big fine.
• Prices can change based on your address – Being located in a small town has definite advantages when trying to find low car insurance rates. Fewer drivers means fewer accidents in addition to fewer liability claims. Drivers in populated areas tend to have traffic congestion and longer commute times. More time behind the wheel means a statistically higher chance of an accident.
• What are good liability insurance limits? – The liability coverage on your policy is the protection when you are ruled to be at fault for damages from an accident. Your liability coverage provides for a legal defense which can be incredibly expensive. This coverage is very inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
• Bump up physical damage deductibles to lower rates – Protection for physical damage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your vehicle. Some coverage claims would be a broken windshield, hail damage, and damage caused by flying debris. The deductibles are how much you are willing to pay in the event of a claim. The higher the amount you have to pay, the less your insurance coverage will be on 7 Series insurance.

There’s no such thing as the perfect car insurance policy

When buying adequate coverage, there really is no cookie cutter policy. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions can help discover if your insurance needs could use an agent’s help.

• How many claims can I have before being cancelled?
• What is an SR-22 filing?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• What happens if I owe more than my 2003 BMW 7 Series is worth?
• Does my policy cover my teen driver if they drive my company car?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Should I have a commercial auto policy?

If you’re not sure about those questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

What auto insurance coverages do you need?

Learning about specific coverages of a auto insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverages offered by auto insurance companies.

Collision insurance

This pays for damage to your 7 Series resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible 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 and crashing into a building. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

Protection from uninsured/underinsured drivers

This gives you protection when other motorists are uninsured or don’t have enough coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Comprehensive (Other than Collision)

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like a tree branch falling on your vehicle, falling objects, hitting a bird and a broken windshield. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability insurance

This can cover damage that occurs to people or other property that is your fault. It protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against claims like pain and suffering, repair costs for stationary objects, repair bills for other people’s vehicles and court costs. How much liability should you purchase? That is a decision to put some thought into, but consider buying higher limits if possible.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like funeral costs, pain medications, surgery and rehabilitation expenses. They are used to fill the gap from your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Smart consumers save more

We’ve covered some good ideas how to get a better price on 2003 BMW 7 Series insurance. The key concept to understand is the more you quote car insurance, the higher the chance of saving money. Consumers may even find the best car insurance rates are with a small local company. Smaller companies can often provide lower premium rates in certain areas compared to the large companies like Progressive and Geico.

When trying to cut insurance costs, it’s not a good idea to reduce needed coverages to save money. Too many times, consumers will sacrifice liability limits or collision coverage only to regret at claim time that it was a big mistake. Your goal should be to buy a smart amount of coverage at the lowest possible cost while still protecting your assets.

More detailed insurance information can be found in these articles:

• Distracted Driving Statistics (Insurance Information Insitute)
• Credit and Insurance Scores (Insurance Information Insitute)
• Distracted Driving Extends Beyond Texting (State Farm)
• Comprehensive Coverage (Liberty Mutual)
• Senior Drivers (Insurance Information Insitute)