Are you drained from scraping nickels together to make your auto insurance payment? You’re in the same situation as millions of other drivers. Multiple insurers compete for your hard-earned dollar, and because of this it can be hard to compare insurance companies to find the absolute lowest rate possible.
If you have a policy now or are shopping for new coverage, you can use this information to cut your premiums while maintaining coverages. Buying car insurance is quite easy. Drivers just need to know the proper methods to compare prices on the web.
An important part of buying insurance is that you know the rating factors that go into determining car insurance rates. When you know what positively or negatively impacts premium levels, this allows you to make educated decisions that may reward you with lower premium levels.
The items below are some of the things used by companies to determine premiums.
The best way to compare policy rates is to understand most of the bigger providers participate in a system to give rate comparisons. All consumers are required to do is give the companies some data such as if you lease or own, how your vehicles are used, if you have an active license, and your general credit rating. The data is instantly sent to multiple companies and you will get price comparisons with very little delay.
Consumers can’t ignore all the ads that claim the cheapest car insurance rates by Geico, State Farm and Progressive. All the companies tend to make the same promise about saving some big amount if you switch to them.
How can each company give you a better price? This is how they do it.
Insurance providers are able to cherry pick for the type of insured that earns them the most money. A good example of a profitable customer could possibly be a mature driver, owns their home, and drives a lower-performance vehicle. A propective insured who fits those characteristics receives the best prices and is almost guaranteed to save when they switch companies.
Potential customers who don’t meet this stringent profile will be quoted a higher rate which translates to the customer not buying. If you pay attention, the ads say “customers who switch” not “all people who quote” can save as much as they claim. That’s why insurance companies can confidently make those statements.
Because of the profiling, it’s extremely important to compare as many free insurance quotes as you can. It’s not possible to predict which insurance companies will provide the lowest premium rates.
Insurance can be prohibitively expensive, but there are discounts available that you may not know about. Some discounts apply automatically when you purchase, but less common discounts must be requested specifically prior to receiving the credit.
Discounts save money, but please remember that most of the big mark downs will not be given to the entire cost. Most only apply to the cost of specific coverages such as liability and collision coverage. If you do the math and it seems like it’s possible to get free car insurance, it doesn’t quite work that way.
A few of the larger companies and a summarized list of policyholder discounts can be read below.
Before purchasing a policy, check with every prospective company to apply every possible discount. Some of the earlier mentioned discounts may not apply to policyholders in your area.
When it comes to buying the right insurance coverage, there really is not a “best” method to buy coverage. Each situation is unique so this has to be addressed. For instance, these questions might help in determining whether your personal situation could use an agent’s help.
If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance coverage companies in your area. It is quick, free and you can get the answers you need.
Learning about specific coverages of your policy can be of help when determining appropriate coverage for your vehicles. The coverage terms in a policy can be confusing and coverage can change by endorsement. Listed below are typical coverages found on most car insurance policies.
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for prosthetic devices, rehabilitation expenses, funeral costs and hospital visits. They are often used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like hail damage, theft, damage from flooding, damage from getting keyed and hitting a deer. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Liability coverage protects you from injuries or damage you cause to people or other property. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against claims like attorney fees, legal defense fees, medical expenses and court costs. How much liability should you purchase? That is a decision to put some thought into, but consider buying higher limits if possible.
This coverage provides protection when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your BMW 3 Series.
Since many 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. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.
This coverage pays to fix your vehicle from damage resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision can pay for things like rolling your car, sideswiping another vehicle, crashing into a building and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.
More affordable auto insurance can be bought online in addition to many insurance agents, so get free insurance quotes from both of them to get a complete price analysis. A few companies do not provide the ability to get quotes online and many times these small, regional companies provide coverage only through independent insurance agents.
We’ve covered many ways to lower your 2009 BMW 3 Series insurance rates. It’s most important to understand that the more quotes you get, the higher your chance of finding low cost insurance. Consumers may even find the best rates are with a company that doesn’t do a lot of advertising. They can often insure niche markets at a lower cost than their larger competitors like Allstate and Progressive.
As you shop your coverage around, don’t be tempted to reduce coverage to reduce premium. There are many occasions where consumers will sacrifice liability limits or collision coverage and discovered at claim time that it was a big error on their part. The aim is to purchase a proper amount of coverage at the best price, but do not skimp to save money.
From a town just southwest of Bellevue, NE. Got car insurance quotes from Allstate, Esurance, and The General for my 2009 BMW 3 Series and cut my rates about $500 a year. I got prices on the web.
If you have a clean record and are close to Fargo, ND, check out Allstate. You might save some money. Was with Safeco. Wish I didn’t have to insure at all.
Hope my rates come down. I’m just east of Portland, Oregon. I got free quotes from Allstate, Amica, and Encompass for my 3 Series and I’m now saving $49 a month. Hopefully won’t need it. It never hurts to quote around.
Great site. Found cheapest coverage with Eastwood for my 2009 BMW 3 Series and saved around $550 a year. Insured with Erie before.
I live on the east side of Las Cruces, NM. Quoted a bunch of companies. Saved darn near $40 a month. Progressive was the best choice for me.
Here’s what I found out. I live in a small town just outside of Wilmington, DE. Quoted with Auto-Owners, Safeco, and some smaller one I can’t remember the name of for my 3 Series and I think I cut my rates about $70 each month.
I’m in Anchorage, Alaska. Compared rates from a lot of places. Saved darn near $30 a month. State Farm was the cheapest option for me. I have several vehicles insured with them. :)