Searching for the cheapest insurance for a new or used BMW 3 Series could be an all-consuming task, but you can learn our insurance coverage buying tips to make it easier.
There are more efficient ways to buy insurance coverage so we’re going to tell you the quickest way to price shop coverage for your BMW and locate the best price possible from both online companies and local agents.
It is always a good idea to check insurance coverage prices periodically due to the fact that insurance rates are usually higher with each renewal. Just because you found the best premium rates on 3 Series coverage a few years ago you will most likely find a better price today. There are a lot of ways to save on insurance coverage online, but you can learn a bunch of ideas how to stop overpaying for insurance.
If you have a current auto insurance policy or are shopping for new coverage, you can use these tips to shop for the lowest rates and possibly find even better coverage. Pricing cheaper auto insurance coverage can be fairly easy. Drivers just need to learn the proper way to compare price quotes over the internet.
Companies offering auto insurance do not advertise all available discounts very well, so we researched a few of the more common and also the lesser-known discounts that you can inquire about if you buy auto insurance online. If you don’t get every credit you qualify for, you are paying more than you should be.
As a sidenote, many deductions do not apply to your bottom line cost. Most only reduce individual premiums such as comp or med pay. So even though they make it sound like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business. Any amount of discount will lower the cost of coverage.
The best insurance companies and some of the premium reductions they offer are included below.
Before buying, ask every company which discounts you may be entitled to. Some discounts might not be available to policyholders in your area. To choose providers with significant discounts, follow this link.
Many things are used when premium rates are determined. Some are pretty understandable like your driving record, but other criteria are more transparent like your vehicle usage or how financially stable you are.
Listed below are most of the major factors used by insurance companies to determine your rate level.
When choosing adequate coverage for your personal vehicles, there really is no cookie cutter policy. Everyone’s situation is a little different.
For example, these questions may help highlight if your situation might need an agent’s assistance.
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form. It is quick, free and can help protect your family.
Consumers can’t escape the ads that promise big savings by Progressive, Geico, Allstate and State Farm. All the companies advertise the message that drivers will save a bundle if you just switch your insurance coverage to their company.
Is it even possible that every company can offer you a better deal? This is the way they can do it.
Most companies have underwriting criteria for the type of driver they prefer to insure. One example of a profitable customer should be between 30 and 50, has no tickets, and drives newer vehicles. A driver who matches those parameters will get a cheap rate quote and as a result will probably save when switching.
Consumers who cannot meet this stringent profile will be quoted a more expensive rate which results in the customer buying from a different company. If you pay close attention to the ads, they say “customers who switch” but not “everyone who gets a quote” save the amount stated. That’s why companies can truthfully make those statements.
Different companies use different criteria so you should do a quote comparison often. Because you never know the company that will have the best premium rates.
Learning about specific coverages of insurance can be of help when determining the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.
Comprehensive (Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things such as theft, falling objects, vandalism, damage from a tornado or hurricane and rock chips in glass. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers – This protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 3 Series.
Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Medical expense insurance – Coverage for medical payments and/or PIP pay for short-term medical expenses for chiropractic care, hospital visits and prosthetic devices. They are used to fill the gap from your health insurance program or if you lack health insurance entirely. 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 coverage is not available in all states and gives slightly broader coverage than med pay
Auto liability insurance – This will cover damage that occurs to a person or their property in an accident. It protects YOU from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage pays for things like medical services, bail bonds and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.
Collision – This pays to fix your vehicle from damage resulting from colliding with an object or car. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for things such as damaging your car on a curb, crashing into a ditch, hitting a mailbox and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible to get cheaper collision coverage.
Cheap 2008 BMW 3 Series insurance is definitely available on the web in addition to many insurance agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and these small, regional companies only sell through local independent agencies.
People switch companies for any number of reasons including lack of trust in their agent, policy non-renewal, high rates after DUI convictions or even unfair underwriting practices. Whatever your reason, switching companies is easier than you think.
Throughout this article, we presented quite a bit of information on how to lower your 2008 BMW 3 Series insurance rates. The most important thing to understand is the more you quote auto insurance, the better your comparison will be. Consumers could even find that the most savings is with some of the lesser-known companies.
For more information, link through to the articles below:
I’m in the south part of Mesa, AZ. Got rates from AIG Insurance, Eastwood, and Nationwide for my 2008 BMW 3 Series and saved just over $470 a year. You can get a rate quote online.
I’ve insured with 21st Century for a long time. Pretty cheap in Augusta, GA.
21st Century has the cheapest rates in Colorado. No comparison.
Good site, thanks. From northwest of Detroit, Michigan. Quoted with Progressive, American Family, and Farmers for my 2008 BMW 3 Series and saved about $110 a year. Moved home policy as well. Not sure about claim service.
Nice post. I’m in the suburbs of Miami, FL. Quoted quotes with Allstate, Eastwood, and The General for my BMW and saved around $100 a year. I have kids on my policy, too. You can get a rate quote online.
Found cheapest coverage with MetLife for my BMW and am saving around $420 a year. Good savings if you bundle. Not sure if rates are cheaper online or through an agent.
Lifelong resident of Hartford, CT. Received quotes from Progressive, Auto-Owners, Eastwood, and Hartford for my BMW and I’m now saving $34 a month. Was with Amica. It never hurts to quote around.
Found cheapest coverage with State Farm for my 3 Series and am saving around $270 a year. I’m a pretty low risk driver. It’s easy to compare rates online now.
What exactly does liability cover?
I’ve bought from GEICO forever. Cheapest rates in Aurora, Illinois.
Hope my rates come down. I’m in Rio Rancho, NM. Quoted with Amica, Nationwide, and some smaller one I can’t remember the name of for my 3 Series and saved $226 a year. Was with American Family. I recommend comparing lots of rates.
In Worcester, MA, Amica had the best rates for my 2008 BMW 3 Series. LOL
Cheapest quote for my 2008 BMW 3 Series was with Erie. Wish I didn’t have to insure at all.
I live in Portland, OR. Don’t remember every company but I ended up saving about $60 each month.
I’m in Bismarck, ND. Can’t remember who all I quoted but I ended up saving about $50 each month.
Like your site, BTW. I’m from Warren, MI. Got free quotes online for a 2008 BMW 3 Series. Ended up at about $500 savings annually. Went with State Farm. I’m a pretty good driver though.
Lifelong resident of Rio Rancho, NM. Quoted quotes from Progressive, Esurance, and Hartford for my 3 Series and I think I saved around $50 each month. Insured with Sentry before. They have free quotes online.
I’m from Kailua, HI. Received quotes from 21st Century, American Family, and some I forget for my 3 Series and I think I saved around $60 each month. Even increased coverage a bit.
Thanks for putting this site together. From northwest of Atlanta, GA. Quoted a bunch of companies. Saved about $20 a month. 21st Century was the best choice for me. Even increased my liability limits.