2004 BMW 7 Series Insurance Cost – 5 Discounts for Cheaper Prices

Trying to find cheaper auto insurance rates? Buyers have lots of choices when searching for low-cost BMW 7 Series insurance. You can either spend your time struggling with agents to get rate comparisons or save time using the internet to get rate quotes. There is a better way to compare auto insurance rates so we’re going to tell you the best way to quote coverages for a BMW and locate the lowest possible price from local insurance agents and online providers.

If you have a policy now or are looking for a new policy, you will benefit by learning to reduce the price you pay and still get good coverage. This article will tell you how to get online quotes and some money-saving tips. Drivers only need to know the most effective way to shop on the web.

Do you qualify for these five discounts?

Not too many consumers would say car insurance is affordable, but you may find discounts that can help lower your rates. Many of these discounts will be applied automatically when you purchase, but lesser-known reductions have to be asked about before you get the savings.

• Early Signing – A few car insurance companies allow discounts for buying a new policy prior to your current policy expiring. The savings is around 10%.
• One Accident Forgiven – Not necessarily a discount, but a few companies such as Geico, Allstate and Liberty Mutual allow you one accident without the usual rate increase so long as you haven’t had any claims for a certain period of time.
• Government Employees – Active or retired federal employment could qualify for a slight premium decrease for 7 Series insurance with select insurance companies.
• Passive Restraints and Air Bags – Vehicles with factory air bags or motorized seat belts may earn rate discounts of up to 25% or more.
• Policy Bundle Discount – If you have multiple policies with the same insurance company you will save 10% to 20% off each policy.

It’s important to note that most credits do not apply to all coverage premiums. Some only apply to individual premiums such as liability and collision coverage. So when it seems like it’s possible to get free car insurance, it doesn’t quite work that way. But any discount will cut your car insurance premiums.

A partial list of companies who may offer these benefits include:

• American Family
• Farm Bureau
• State Farm
• Travelers
• The Hartford
• Geico
• Progressive

If you need lower rates, check with each company or agent what discounts are available to you. Some credits might not be offered on policies in your area. To see a list of companies offering car insurance discounts, click here to view.

Don’t assume everyone needs the same auto insurance coverage

When buying the best auto insurance coverage for your vehicles, there really is not a best way to insure your cars. Every situation is different.

These are some specific questions can aid in determining if your situation may require specific advice.

• Do I pay less for low miles?
• Does having multiple vehicles earn me a discount?
• Do I have coverage if my license is suspended?
• When can I cancel my policy?
• How do I file an SR-22 for a DUI in my state?
• Does my policy pay for OEM or aftermarket parts?
• When should I remove comp and collision on my 2004 BMW 7 Series?
• When do I need to add a new car to my policy?

If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form. It is quick, free and can help protect your family.

Can switching companies really save?

Consumers get pounded daily by advertisements that promise big savings for switching from companies such as Allstate, Geico and Progressive. All the companies advertise claims that drivers will save a bundle if you switch to their company.

How is it possible that every company can charge less that you’re paying now? This is the trick they use.

Insurance providers quote their cheapest rates for the driver that will generate a profit. An example of this type of driver might be over the age of 50, has few claims, and has a high credit rating. Any driver who matches those parameters will probably get cheap rates and will save if they switch.

Consumers who fall short of these standards may be forced to pay a higher premium which leads to the customer buying from someone else. If you pay attention, the ads say “people who switch” not “all people who quote” save that much money. That’s why companies can truthfully make those statements. This illustrates why it is so important to do a price quote comparison at every renewal. You cannot predict the company that will provide the lowest rates.

Coverages available on your insurance policy

Having a good grasp of your insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive insurance – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like a broken windshield, hail damage and damage from getting keyed. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability insurance – Liability insurance can cover damage or injury you incur to people or other property in an accident. This coverage protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability coverage pays for things like structural damage, emergency aid, medical services and pain and suffering. How much liability coverage do you need? That is up to you, but consider buying as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for bills like rehabilitation expenses, dental work and chiropractic care. They are often used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverages – This pays for damage to your 7 Series from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things like hitting a parking meter, colliding with a tree, rolling your car, crashing into a ditch and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible in order to get cheaper collision rates.

Smart consumers save more

In this article, we covered many tips how you can compare 2004 BMW 7 Series insurance car insurance rates online. It’s most important to understand that the more quotes you get, the higher your chance of finding the cheapest auto insurance. You may even discover the biggest savings come from a small local company.

Drivers leave their current company for many reasons like policy cancellation, lack of trust in their agent, high prices and not issuing a premium refund. Regardless of your reason for switching companies, choosing a new company is not as difficult as it may seem.

When you buy auto insurance online, never skimp on critical coverages to save a buck or two. In many instances, someone dropped physical damage coverage and found out when filing a claim that the savings was not a smart move. The aim is to find the BEST coverage at the best cost, but don’t skip important coverages to save money.

More information is located on the following sites:

• Safety Tips for Teen Drivers (Insurance Information Insitute)
• Information for Teen Drivers (Geico)
• Bodily Injury Coverage (Liberty Mutual)
• Side Impact Crash Tests (iihs.org)
• Choosing an Insurance Company (Insurance Information Insitute)
• Insuring a Leased Car (Insurance Information Insitute)