2004 BMW 3 Series Insurance Cost

Trying to find the cheapest car insurance rates for your BMW 3 Series? Sick and tired of wondering where the money will come from to insure your BMW every month? You have the same problem as the majority of other people. Due to the large number of companies to choose from, it is hard for the average consumer to find the lowest cost company.

The cheapest auto insurance

There are a variety of methods to compare auto insurance prices but one way is less labor-intensive and much quicker. You can waste hours driving to insurance agencies in your area, or you can stay home and use online quoting to accomplish the same thing much quicker.

Most major companies are enrolled in a marketplace where prospective buyers complete one form, and each participating company can give them a price based on that information. This system prevents you from having to do quotation requests for each company.

To find out how much you can save on auto insurance click here (opens in new window).

The one disadvantage to using this type of form is that you can’t choose the providers to get pricing from. So if you prefer to pick from a list of companies for rate comparison, we put together a list of companies who write auto insurance in your area. Click to view list.

You can choose any of those ways to find more affodable coverage, but make darn sure you compare nearly identical deductibles and coverage limits with each company. If you are comparing different coverage information it will be nearly impossible to determine the lowest rate for your BMW 3 Series.

Discounts to earn cheap car insurance rates

Some insurance providers don’t always publicize every policy discount in an easy-to-find place, so below is a list a few of the more well known and also the more inconspicuous discounts that may be available.

• Air Bags and Passive Restraints – Vehicles equipped with air bags or motorized seat belts can receive discounts of 20% or more.
• Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
• Low Miles Discount – Fewer annual miles on your BMW could earn cheaper rates.
• Lower Rates for Military – Having an actively deployed family member may qualify for rate reductions.
• Homeowners Savings – Simply owning a home can save you money because it demonstrates responsibility.
• Multiple Vehicles – Insuring all your vehicles on the same car insurance policy could earn a price break for each car.
• Discounts for Cautious Drivers – Insureds who avoid accidents can save as much as half off their rates for 3 Series insurance than their less cautious counterparts.
• Savings for New Vehicles – Buying insurance coverage on a new vehicle can get you a discount due to better safety requirements for new vehicles.
• Government Employees – Federal government employees may reduce rates when you quote insurance coverage for 3 Series insurance with select insurance companies.

A little note about advertised discounts, most credits do not apply the the whole policy. Some only apply to specific coverage prices like physical damage coverage or medical payments. Just because you may think all those discounts means the company will pay you, companies wouldn’t make money that way.

A few popular companies and a selection of discounts can be found below.

• Geico includes discounts for air bags, emergency military deployment, multi-policy, defensive driver, federal employee, and military active duty.
• Travelers offers discounts including multi-policy, good student, save driver, home ownership, student away at school, and continuous insurance.
• Farm Bureau policyholders can earn discounts including 55 and retired, safe driver, multi-vehicle, driver training, and renewal discount.
• Liberty Mutual offers premium reductions for good student, new graduate, hybrid vehicle, newly married, preferred payment discount, new vehicle discount, and newly retired.
• American Family has savings for defensive driver, multi-vehicle, air bags, bundled insurance, Steer into Savings, TimeAway discount, and good driver.
• Progressive may have discounts that include online signing, continuous coverage, good student, multi-policy, and online quote discount.

It’s a good idea to ask all the companies to give you their best rates. Depending on the company, some discounts may not be available in your area. To choose companies that offer the discounts shown above, click here to view.

Choices you make can impact your insurance rates

Many different elements are taken into consideration when you quote your car insurance policy. Some are pretty understandable like your driving record, although others are not quite as obvious such as whether you are married or your commute time.When buying auto insurance it’s important to understand a few of the rating criteria that play a part in calculating the level of your policy premiums. When consumers understand what influences your rates, this helps enable you to make changes that could result in lower rates.

The itemized list below are just a few of the factors used by companies to determine prices.

• Mature drivers are lower risk – Older people are more cautious drivers, are lower risk to insure , and usually have better credit.Teen drivers tend to be easily distracted in a vehicle so they pay higher auto insurance rates.
• Save money by having multiple policies – Most major insurers afford lower prices to insureds who carry more than one policy such as combining an auto and homeowners policy. The amount of the discounts can be as much as ten percent or more Even if you qualify for this discount already, it’s still a good idea to compare rates to help ensure you have the lowest rates.
• Is car insurance cheaper for males or females? – Statistics demonstrate that men are more aggressive behind the wheel. That doesn’t necessarily mean that females are better at driving than males. Both sexes tend to get into fender benders in similar numbers, but men cause more damage. Men also statistically have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly.
• Extra policy coverages can waste money – There are a ton of extra coverages that can add up but may not be useful. Insurance for things like replacement cost coverage, accidental death, and term life insurance may be costing you every month. These may sound like a good investment when deciding what coverages you need, but your needs may have changed so remove them from your policy.
• Where you live – Having an address in areas with lower population can be a good thing when trying to find low car insurance rates. City drivers have much more traffic and longer commute times. Fewer drivers translates into fewer accident claims in addition to lower liability claims
• What are good liability limits? – The liability section of your policy will protect you if you are found to be at fault for causing damage or personal injury in an accident. Liability insurance provides you with a defense in court to attempt to prove you were not liable. This coverage is very inexpensive compared to comp and collision, so drivers should carry high limits.

Tailor your car insurance coverage to you

When it comes to choosing coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s situation is unique so your insurance should reflect that These are some specific questions can aid in determining if your insurance needs would benefit from an agent’s advice.

• Why is insurance for a teen driver so high?
• How high should my uninsured/underinsured coverage be in my state?
• What is the ISO rating for a 2004 BMW 3 Series?
• Am I getting all the discounts available?
• Is my BMW 3 Series covered if I use it for business?
• If I drive on a suspended license am I covered?
• Do I need replacement cost coverage?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.

Parts of your insurance policy

Learning about specific coverages of your insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages available from insurance companies.

Collision coverages – Collision coverage will pay to fix damage to your 3 Series caused by collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things like colliding with another moving vehicle, colliding with a tree, hitting a parking meter, hitting a mailbox and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Another option is to increase the deductible in order to get cheaper collision rates.

Comprehensive insurance – This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like damage from flooding, falling objects, vandalism and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for expenses such as surgery, prosthetic devices, X-ray expenses and pain medications. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM) – This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your 2004 BMW 3 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.

Liability auto insurance – This coverage can cover damages or injuries you inflict on a person or their property that is your fault. This insurance protects YOU against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage pays for claims like emergency aid, pain and suffering, attorney fees, court costs and funeral expenses. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

At the end of the day…

We just covered many ideas to save on 2004 BMW 3 Series insurance. The most important thing to understand is the more times you quote, the higher your chance of finding low cost insurance coverage. Drivers may discover the lowest car insurance rates are with the least-expected company. Smaller companies often have lower premium rates on specific markets than the large multi-state companies such as State Farm, Geico and Nationwide.

Low-cost 2004 BMW 3 Series insurance can be found on the web and also from your neighborhood agents, so you should compare both to have the best chance of lowering rates. Some auto insurance companies may not have rate quotes online and most of the time these smaller companies sell through local independent agents.

As you quote insurance coverage, don’t be tempted to skimp on coverage in order to save money. In many cases, an insured cut comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. Your goal is to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.

For more information, feel free to browse these articles:

• Vehicle Safety Ratings (iihs.org)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
• Safety Features for Your New Car (State Farm)
• Safe Vehicles for Teens (iihs.org)