Cheap 2008 BMW 1 Series Insurance Quotes

Searching for lower car insurance rates? Consumers have options when looking for the lowest priced BMW 1 Series insurance. You can either waste hours struggling with agents getting price quotes or leverage the internet to make rate comparisons.

There are both good and bad ways to buy car insurance so you’re going to learn the best way to compare rates for a new or used BMW and get the cheapest rates either online or from local insurance agents.

It’s important to get comparison quotes before your next renewal due to the fact that insurance prices change quite often. Just because you had the lowest rate on 1 Series coverage on your last policy other companies may now be cheaper. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the right way to find better coverage at a better price.

How insurance providers determine BMW 1 Series insurance costs

Part of the insurance coverage buying process is learning some of the elements that come into play when calculating the level of your policy premiums. When you understand what impacts premium levels, this enables you to make decisions that may result in lower rates.

• Higher comp and collision deductibles cost less – Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your BMW from damage. Some coverage claims could be colliding with a building, hitting a deer, and rolling your vehicle. Comprehensive and collision coverage deductibles state the amount of money you are required to spend out-of-pocket in the event of a claim. The more money you pay before a claim is paid (deductible), the less your insurance coverage will be on 1 Series coverage.
• Proper usage rating affects premiums – The more you drive every year the higher the price you pay to insure it. The majority of insurers price each vehicle’s coverage partially by how you use the vehicle. Vehicles that are left in the garage receive better premium rates than vehicles that have high annual mileage. Double check that your insurance coverage policy correctly shows the correct driver usage. An improperly rated 1 Series is throwing money out the window.
• Drivers with good credit save – A driver’s credit history is a large factor in determining your rates. Consumers who have very high credit ratings tend to file fewer claims than those with poor credit. If your credit is lower than you’d like, you could be paying less to insure your 2008 BMW 1 Series by improving your credit score.
• Lower rates with a multi-policy discount – Most larger insurance coverage companies allow a discount for people that buy multiple policies, otherwise known as a multi-policy discount. The discount can be ten or even fifteen percent. Even if you’re getting this discount it’s in your best interest to get quotes from other companies to confirm you are receiving the best rates possible.
• Marriage can lower premiums – Walking down the aisle may cut your premiums on your insurance coverage policy. Marriage translates into being more stable financially it has been statistically shown that married drivers tend to have fewer serious accidents.

These discounts can lower your insurance coverage rates

Car insurance is not cheap, but discounts can save money and there are some available that many people don’t even know exist. Certain discounts will be applied at the time you complete a quote, but once in a while a discount must be specifically requested before you will receive the discount.

• Discounts for Seat Belt Usage – Requiring all passengers to buckle up before driving could save 15% off the PIP or medical payment premium.
• Discount for Life Insurance – If the company offers life insurance, you could get a discount if you purchase life insurance from them.
• Bundle and Save – If you insure your home and vehicles and insure them with the same company you could save as much as 10 to 15 percent.
• Drivers Education – Make teen driver coverage more affordable by requiring them to complete a driver education course in high school.
• No Claims – Claim-free drivers have much lower rates in comparison to frequent claim filers.
• Employee of Federal Government – Active or retired federal employment can save as much as 8% on 1 Series coverage with a few insurance coverage companies.
• Professional Memberships – Joining a civic or occupational organization may earn a discount on insurance coverage.
• Discounts for Safe Drivers – Drivers who avoid accidents may save up to 50% more on 1 Series coverage as compared to drivers with claims.

You should keep in mind that most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like medical payments or collision. Just because it seems like adding up those discounts means a free policy, it just doesn’t work that way.

A few companies that may have these benefits are:

• Farm Bureau
• State Farm
• Progressive
• Allstate
• Nationwide
• MetLife

Before purchasing a policy, check with every prospective company to apply every possible discount. Some of the discounts discussed earlier may not be offered in your area. To see a list of companies who offer discounts, follow this link.

Different people need different car insurance coverages

When buying proper insurance coverage for your vehicles, there really is no best way to insure your cars. Every insured’s situation is different.

These are some specific questions might point out if your insurance needs would benefit from professional advice.

• When does my teenage driver need to be added to my policy?
• Do I need PIP (personal injury protection) coverage in my state?
• Are my friends covered when driving my car?
• Can my teen drive my company car?
• What is an SR-22 filing?
• Do I need more liability coverage?
• At what point should I drop full coverage?
• How high should my uninsured/underinsured coverage be in my state?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form. It only takes a few minutes and you can get the answers you need.

Insurance coverage basics

Understanding the coverages of a insurance policy helps when choosing which coverages you need for your vehicles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording.

Coverage for medical expenses – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like nursing services, hospital visits, ambulance fees, prosthetic devices and funeral costs. They can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover getting struck while a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Coverage for uninsured or underinsured drivers – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally the UM/UIM limits are similar to your liability insurance amounts.

Collision coverages – Collision insurance pays for damage to your 1 Series resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as hitting a mailbox, sustaining damage from a pot hole, rolling your car and crashing into a building. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Comprehensive insurance – This pays for damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like damage from flooding, damage from getting keyed, hail damage, damage from a tornado or hurricane and a broken windshield. The maximum payout your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Auto liability – Liability insurance can cover damage or injury you incur to people or other property by causing an accident. It protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 that translate to $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability can pay for things like structural damage, medical services and loss of income. How much liability coverage do you need? That is a personal decision, but you should buy as large an amount as possible.

Smart shoppers get results

We just presented a lot of information how to reduce 2008 BMW 1 Series insurance premium rates online. It’s most important to understand that the more you quote insurance, the better your chances of lowering your prices. You may be surprised to find that the best premium rates are with an unexpected company.

The cheapest 2008 BMW 1 Series insurance can be sourced both online as well as from insurance agents, so get free insurance quotes from both of them so you have a total pricing picture. Some insurance companies may not have internet price quotes and these small, regional companies work with independent insurance agencies.

When getting insurance quotes online, do not buy poor coverage just to save money. In too many instances, consumers will sacrifice physical damage coverage only to regret that it was a big error on their part. The proper strategy is to purchase a proper amount of coverage at the best cost while still protecting your assets.

For more information, take a look at the resources below:

• Vehicle Insurance (Wikipedia)
• Side Impact Crash Tests (iihs.org)
• Child Safety Seats (Insurance Information Insitute)
• Choosing a Car for Your Teen (State Farm)
• Older Drivers FAQ (iihs.org)