How Much Does 2005 BMW 3 Series Car Insurance Cost?

Want better car insurance rates for your BMW 3 Series? Shopping for discount car insurance can appear to be challenging for consumers that are relatively new to buying their car insurance on the web. With a ridiculous number of insurers available, how are we expected to effectively compare each option to find better prices?

Cheap car insurance quotes with discounts

Buying car insurance is not cheap, but there’s a good chance there are discounts to help offset the cost. Some of these disounts will be visible at the time of purchase, but some discounts are required to be requested specifically prior to getting the savings.

• No Charge for an Accident – This isn’t a discount exactly, but a few companies such as Geico and Allstate will let one accident slide before raising your premiums so long as you haven’t had any claims for a specific time period.
• College Student Discount – Kids who are enrolled in a college that is more than 100 miles from home and do not have a car may qualify for this discount.
• Early Switch Discount – Some companies reward drivers for switching companies before your current expiration date. This can save 10% or more.
• Theft Deterent System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems have a lower chance of being stolen and therefore earn up to a 10% discount.
• Own a Home and Save – Just owning your own home can save you money because maintaining a house means you have a higher level of financial diligence.

As a footnote on discounts, most discounts do not apply to all coverage premiums. Most cut the price of certain insurance coverages like liability and collision coverage. Even though it appears all those discounts means the company will pay you, companies wouldn’t make money that way.

A list of car insurance companies and a partial list of their discounts include:

• Geico discounts include membership and employees, military active duty, federal employee, seat belt use, five-year accident-free, and driver training.
• MetLife has savings for good driver, good student, defensive driver, multi-policy, and accident-free.
• Progressive may have discounts that include online quote discount, multi-policy, good student, homeowner, online signing, continuous coverage, and multi-vehicle.
• Travelers offers discounts including payment discounts, hybrid/electric vehicle, IntelliDrive, home ownership, multi-policy, student away at school, and save driver.
• SAFECO offers premium reductions for teen safety rewards, multi-car, drive less, teen safe driver, anti-lock brakes, and bundle discounts.
• AAA may include discounts for anti-theft, good student, multi-policy, good driver, education and occupation, and multi-car.

If you need lower rates, check with each insurance company which credits you are entitled to. Some credits may not apply to policies in your area. For a list of insurers that provide some of the discounts listed above, click this link.

Insurance costs are influenced by these factors

Many things are considered when you get your auto insurance bill. Some of the criteria are obvious like your driving record, although others are not quite as obvious such as your marital status or your commute time.

Listed below are a few of the things that factor into your rate level.

• Pleasure use or commuting – The higher the miles on your BMW annually the higher your rates will be. Most companies charge rates based upon how the vehicle is primarily used. Cars and trucks that have low annual miles get more affordable rates than vehicles that are driven to work every day. Incorrect rating for your 3 Series is just wasting money. Verify your declarations sheet properly reflects the correct usage, because improper ratings can cost you money.
• Lower premiums for vehicles with better crash test results – Safe vehicles are cheaper to insure. Safer cars reduce injuries and lower rates of occupant injuries translates into fewer and smaller insurance claims and lower rates for you. If the BMW 3 Series is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
• High coverage deductibles lower premiums – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, covers damage that occurs to your BMW. Examples of some claims that would be covered are a windshield shattered by a rock, vandalism, and rolling your vehicle. Comp and collision deductibles represent how much money you are willing to pay in the event of a claim. The more money the insured is willing to pay, the less money you will pay for car insurance for 3 Series insurance.
• Better drivers pay the best prices – Drivers with clean records tend to pay less for car insurance as compared to those with violations. Even one speeding ticket or other violation can boost insurance rates twenty percent or more. Drivers who have gotten careless citations like reckless driving or DUI may need to maintain a SR-22 with their state motor vehicle department in order to keep their license.
• Alarm systems lower prices – Choosing to buy a car that has an advanced theft prevention system can help lower your rates. Theft deterrent systems such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop auto theft.

Tailor your insurance coverage coverage to you

When it comes to choosing coverage for your vehicles, there isn’t really a perfect coverage plan. Everyone’s needs are different.

These are some specific questions could help you determine whether or not you could use an agent’s help.

• Should I buy additional glass protection?
• What vehicles should carry emergency assistance coverage?
• Am I covered if I break a side mirror?
• Does my policy pay for OEM or aftermarket parts?
• Why am I required to buy liability insurance?
• I have good health insurance, so how much medical payments coverage do I need?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form.

Specifics of your car insurance policy

Understanding the coverages of your car insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family and also any damage incurred to your 2005 BMW 3 Series.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.

Liability coverages

This coverage will cover injuries or damage you cause to people or other property that is your fault. This insurance protects YOU against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as pain and suffering, medical services and structural damage. How much coverage you buy is up to you, but consider buying as much as you can afford.

Comprehensive coverage (or Other than Collision)

This coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like a broken windshield, falling objects and fire damage. The most a car insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Insurance for medical payments

Coverage for medical payments and/or PIP pay for expenses for chiropractic care, EMT expenses, rehabilitation expenses, nursing services and ambulance fees. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Collision coverage

Collision coverage pays to fix your vehicle from damage resulting from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision can pay for things like damaging your car on a curb, crashing into a ditch, hitting a mailbox, sustaining damage from a pot hole and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible to save money on collision insurance.

Be Smart and Buy Smart

Discount 2005 BMW 3 Series insurance is attainable online in addition to many insurance agents, and you need to comparison shop both to have the best chance of lowering rates. A few companies don’t offer price quotes online and most of the time these smaller providers only sell coverage through independent insurance agents.

When you buy insurance coverage online, you should never sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice liability coverage limits and discovered at claim time that the small savings ended up costing them much more. Your focus should be to purchase a proper amount of coverage at the best possible price while still protecting your assets.

People who switch companies do it for any number of reasons including policy cancellation, poor customer service, delays in paying claims or extreme rates for teen drivers. Regardless of your reason for switching companies, choosing a new insurance company is not as hard as you think.

Additional learning opportunities

• Vehicle Insurance in the U.S. (Wikipedia)
• Avoiding Deer Collisions (Insurance Information Insitute)
• Liability Insurance Coverage (Nationwide)
• Protecting Teens from Drunk Driving (Insurance Information Insitute)