Compare 2005 BMW 7 Series Insurance Quotes

Did you fall for a flashy sales pitch and buy an underperforming, overpriced car insurance policy? It’s quite common and there are a lot of people just like you who feel imprisoned by their car insurance policy. You have so many insurers to purchase coverage from, and although it’s a good thing to have a choice, having more insurance companies makes it harder to find the lowest rates.

Finding affordable coverage is easy if you know what you’re doing. If you have insurance now or need a new policy, you will benefit by learning to cut your premiums while maximizing coverage. Consumers just need to understand the tricks to shop for insurance coverage over the internet.

Insurance coverage companies offer lots of discounts

Auto insurance companies don’t necessarily list all available discounts very well, so the next list breaks down some of the more common and the more hidden credits available to bring down your rates.

• Passenger Safety Discount – Vehicles with factory air bags may get savings as much as 30%.
• Save over 55 – Drivers that qualify as senior citizens may receive reduced rates for 7 Series insurance.
• Seat Belts Save more than Lives – Forcing all vehicle occupants to buckle up before driving can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
• Student Discount for Driver Training – Cut your cost by having your teen driver successfully complete driver’s ed class in high school.
• Bundled Policy Discount – If you combine your auto and home policies and place coverage with the same company you could earn a discount of at least 10% off all policies.
• Discount for Life Insurance – Not all insurance companies offer life insurance, but some may give you a discounted premium rate on car insurance if you buy life insurance from them.
• Claim-Free Discount – Drivers who don’t have accidents pay less in comparison with frequent claim filers.

It’s important to understand that most credits do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

The best insurance coverage companies and some of their more popular discounts are included below.

• State Farm policyholders can earn discounts including good student, passive restraint, good driver, accident-free, and defensive driving training.
• Farmers Insurance has savings for homeowner, early shopping, business and professional, switch companies, pay in full, and youthful driver.
• Geico has discounts for multi-policy, air bags, anti-lock brakes, emergency military deployment, multi-vehicle, anti-theft, and five-year accident-free.
• American Family offers discounts for accident-free, TimeAway discount, mySafetyValet, bundled insurance, multi-vehicle, defensive driver, and Steer into Savings.
• Nationwide discounts include business or organization, easy pay, Farm Bureau membership, family plan, good student, and multi-policy.
• Progressive may include discounts for good student, online signing, continuous coverage, online quote discount, multi-vehicle, homeowner, and multi-policy.

Before purchasing a policy, check with each company which discounts they offer. Depending on the company, some discounts might not be available to policyholders in your area. To choose insurers that offer the discounts shown above, click here.

The best way we recommend to get policy rate comparisons is to know the fact most insurance companies pay for the opportunity to provide you with a free rate quote. The one thing you need to do is spend a couple of minutes providing details including how you use your vehicles, if you have an active license, deductibles desired, and how much education you have. That rating information is instantly sent to many of the top insurers and you will get price comparisons very quickly.

Save money with these tips

When buying insurance coverage it’s important to understand some of the elements that go into determining the level of your policy premiums. If you understand what impacts premium levels, this allows you to make good choices that can help you get better insurance coverage rates.

• Is insurance cheaper for men or women? – Over time, data shows that females tend to be a little less risky than males. That doesn’t necessarily mean that females are better at driving than males. They both are responsible for accidents in similar percentages, but guys have costlier accidents. Men also have more aggressive citations such as DWI and reckless driving.
• Pay less after the wedding – Your spouse actually saves money on your policy. Having a spouse means you’re more responsible and statistics show married couples file fewer claims.
• Optional features impact prices – Selecting a car model with anti-theft technology or alarm system can help lower your rates. Systems that thwart theives such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent car theft and help bring rates down.
• Extra policy coverages push up prices – There are many add-on coverages that can waste your money on your 2005 7 Series policy. Things like roadside assistance, towing coverage, and motor club memberships are probably not needed. They may seem like a good idea at first, but your needs may have changed so eliminate them to save money.
• No policy lapses saves money – Driving without insurance coverage in place is against the law and as a result your rates will increase for letting your coverage have a gap. In addition to paying higher rates, the inability to provide proof of insurance will get you a license revocation or jail time.
• Cars with good safety ratings save money – Vehicles with high crash test scores cost less to insure. Highly rated vehicles help reduce the chance of injuries in an accident and any reduction in injury severity translates directly to fewer claims which can mean better rates for you.

Do I just need basic coverages?

When buying proper insurance coverage, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions might help in determining whether your personal situation may require specific advice.

• How do I insure my teen driver?
• Is rental equipment covered for theft or damage?
• Do I have coverage for damage caused while driving under the influence?
• Am I covered if I break a side mirror?
• Is a new car covered when I drive it off the dealer lot?
• Which companies will insure high-risk drivers?
• Why am I required to buy liability insurance?
• Is my teenager covered with friends in the car?
• Am I covered if I drive in a foreign country?
• Can I get a multi-policy discount?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an agent. If you don’t have a local agent, complete this form or click here for a list of auto insurance companies in your area. It’s fast, free and can help protect your family.

Save $483 a year! What?

Consumers get pounded daily by advertisements that promise big savings from companies such as Progressive, Geico, Allstate and State Farm. All the companies have a common claim of big savings just by moving your coverage to them.

How can each company charge lower premium rates? Here is how they do it.

All the different companies look for specific characteristics for the type of driver that will most likely be profitable. For example, a preferred risk might have to be between the ages of 30 and 50, has never had a policy lapse, and drives less than 5,000 miles a year. Someone who fits that profile receive the lowest rate quotes and will also save if they switch.

Consumers who do not match this stringent profile will be charged a higher rate and the customer not purchasing. If you listen closely, the ads state “drivers that switch” not “everyone who quotes” save the amount stated. That’s why companies can make it sound like they have such great rates. Because every company is different, drivers should compare free insurance coverage quotes often. It is impossible to guess which company will have the lowest rate quotes.

Coverage specifics

Knowing the specifics of car insurance aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverage types found on the average car insurance policy.

Collision coverages – Collision insurance will pay to fix damage to your 7 Series resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as colliding with a tree, hitting a mailbox, sideswiping another vehicle, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible to save money on collision insurance.

Coverage for medical expenses – Coverage for medical payments and/or PIP reimburse you for bills such as prosthetic devices, X-ray expenses and surgery. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants as well as if you are hit as a while walking down the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive car insurance – This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like damage from flooding, damage from getting keyed and rock chips in glass. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Coverage for uninsured or underinsured drivers – This coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your 2005 BMW 7 Series.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Auto liability – This coverage protects you from damage that occurs to other’s property or people by causing an accident. This coverage protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 50/100/50 that translate to a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability insurance covers things such as medical services, emergency aid, attorney fees and court costs. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Buy Smart and Save

We’ve covered a lot of ways to reduce 2005 BMW 7 Series insurance rates online. The key concept to understand is the more rate comparisons you have, the better your chances of lowering your car insurance rates. You may be surprised to find that the biggest savings come from a small local company. Some small companies may only write in your state and offer lower car insurance rates than their larger competitors like State Farm and Allstate.

When shopping online for insurance, it’s a bad idea to sacrifice coverage to reduce premiums. There have been many situations where drivers have reduced full coverage and discovered at claim time that they should have had better coverage. Your aim should be to buy a smart amount of coverage for the lowest cost, but do not skimp to save money.

Even more information is available in the articles below:

• Distracted Driving (Insurance Information Insitute)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)
• Prom Night Tips for Teen Drivers (State Farm)
• Young Drivers: The High Risk Years Video (iihs.org)
• If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
• Smart Auto Insurance Tips (Insurance Information Insitute)