How Much Does 2009 BMW 7 Series Insurance Cost?

Are you at wits end from not being able to scrape enough together to pay your insurance bill each month? Your situation is no different than many other consumers.

Many car insurance companies vie for your insurance dollar, and because of this it can be hard to compare insurance companies to find the absolute lowest rate possible.

How to compare insurance quotes

When shopping for insurance there are multiple ways of comparing rates from different insurance companies. The simplest method to lower the rate you pay for 2009 BMW 7 Series insurance is to perform an online rate comparison. This is quite simple and can be completed in a couple of different ways.

1. Probably the best way to find the lowest comparison rates is a comparison rater form (click to open form in new window). This method prevents you from having to do separate quotation requests for each company. In just a few minutes this one form gets insurance cost estimates from all major companies.
2. A harder way to get quotes online consists of visiting each company’s website and get a separate price quote. For instance, let’s assume you want to get rates from Farmers, 21st Century and Allstate. To do that, you would have to spend time on each company’s site and type in your information over and over, and that’s why the first method is more popular.

   For a list of links to insurance companies in your area, click here.

3. The hardest way to quote and compare insurance rates is calling or driving to local insurance agencies. Shopping for insurance online eliminates the middleman unless you have a need for the guidance that can only be provided by a licensed insurance agent. Some companies do allow you to get the lowest quotes online but buy the policy through an agent.

It’s up to you how you get prices quotes, just ensure you are comparing apples-to-apples coverages for each comparison quote. If the quotes have different values for each quote it will be nearly impossible to make an equal comparison. Even a minor difference in insurance coverages or limits may cause a big price difference. And when comparing insurance rates, know that comparing more quotes gives you a better chance of getting a better price.

More discounts mean cheaper premiums

Some companies don’t always list every discount in a way that’s easy to find, so we took the time to find both well-publicized in addition to some of the lesser obvious credits available to lower your premiums when you buy insurance coverage online.

• Seat Belt Usage – Drivers who require all occupants to buckle up before driving could cut 10% or more on medical payment and PIP coverage.
• Discounts for Government Workers – Employees or retirees of the government may reduce rates when you quote insurance coverage on 7 Series insurance with a few insurance companies.
• Accident Forgiveness Coverage – This one is not really a discount per se, but some companies like Geico, State Farm, and Progressive will let one accident slide before hitting you with a surcharge so long as you are claim-free for a particular time prior to the accident.
• Data Collection Discounts – Insureds that choose to allow their insurance company to scrutinize vehicle usage by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system could see a rate decrease if their driving habits are good.
• Claim Free – Insureds with no claims or accidents have much lower rates compared to insureds who have frequent claims or accidents.
• Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. This discount can apply until age 25.

As a footnote on discounts, some of the credits will not apply to your bottom line cost. Most cut individual premiums such as collision or personal injury protection. Just because you may think all those discounts means the company will pay you, you aren’t that lucky.

Popular insurance companies and a selection of discounts are outlined below.

• Esurance may have discounts that include claim free, emergency road assistance, good student, DriveSense, and anti-lock brakes.
• The Hartford offers premium reductions for air bag, bundle, driver training, good student, and anti-theft.
• AAA may offer discounts for multi-policy, good student, AAA membership discount, multi-car, pay-in-full, anti-theft, and good driver.
• Geico has savings for federal employee, driver training, five-year accident-free, multi-vehicle, seat belt use, and defensive driver.
• State Farm discounts include good student, Drive Safe & Save, defensive driving training, Steer Clear safe driver discount, and anti-theft.

If you are trying to find cheap insurance coverage quotes, ask each insurance company the best way to save money. Savings might not be offered on policies in your area. To view companies that offer multiple discounts, click this link.

It’s not one size fits all

When choosing the best auto insurance coverage for your vehicles, there is no cookie cutter policy. Every situation is different and your policy should reflect that. These are some specific questions can aid in determining whether your personal situation might need professional guidance.

• Do I need replacement cost coverage?
• Am I covered if my car is in a flood?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• Is my trailer covered?
• What companies insure drivers after a DUI or DWI?
• Can I get a multi-policy discount?
• When do I need to add a new car to my policy?
• Am I covered if I drive in a foreign country?
• When should I not file a claim?
• Am I better off with higher deductibles on my 2009 BMW 7 Series?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area.

Get cheap insurance premiums by understanding these factors

Lots of things are part of the equation when you quote your car insurance policy. Some are obvious like a motor vehicle report, but others are less obvious like your vehicle usage or how financially stable you are.

The factors shown below are a few of the “ingredients” utilized by car insurance companies to help set prices.

• Deter theft and pay less – Owning a car that has a built-in theft deterrent system can save you a little every year. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder vehicle theft.
• Cars with good safety ratings means better rates – Safe vehicles can get you lower premiums. These vehicles have better occupant injury protection and reduced instances of injuries means lower claim amounts and thus lower rates.
• Bundle policies and save money – Many insurance companies will give lower prices to policyholders that have more than one policy. It’s known as a multi-policy discount. The discount can add up to as much as ten percent or more Even though this discount sounds good, you still need to shop around to help guarantee you have the best rates.There is a good possibility that you can save more without the discount by splitting coverages up.
• Insurance costs and driver gender – Statistics demonstrate that females take fewer risks when driving. It does not mean men are worse drivers. Men and women cause at-fault accidents at about the same rate, but guys have costlier accidents. Not only that, but men also receive more costly citations like driving under the influence (DUI). Males from age 16 to 21 tend to get in the most accidents so they pay the highest premiums.

Insurance coverages explained

Learning about specific coverages of your insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy. Shown next are the normal coverages offered by insurance companies.

Comprehensive insurance

Comprehensive insurance 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 pays for claims such as hitting a bird, hail damage and vandalism. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision protection

This covers damage to your 7 Series from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers claims like colliding with a tree, rolling your car, sideswiping another vehicle, colliding with another moving vehicle and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also increase the deductible to bring the cost down.

Auto liability insurance

Liability coverage protects you from injuries or damage you cause to other’s property or people in an accident. It 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: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.

Liability can pay for claims such as repair bills for other people’s vehicles, emergency aid and bail bonds. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Coverage for uninsured or underinsured drivers

This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as damage to your BMW 7 Series.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.

Coverage for medical expenses

Med pay and PIP coverage provide coverage for short-term medical expenses for things like nursing services, dental work, ambulance fees and pain medications. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Saving money is sweet as honey

There are still a few companies who do not offer the ability to get a quote online and most of the time these regional insurance providers work with local independent agents. Cost effective 2009 BMW 7 Series insurance is attainable from both online companies and from local agencies, and you need to comparison shop both to get a complete price analysis.

You just learned many tips how you can reduce 2009 BMW 7 Series insurance auto insurance rates online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even discover the best price on car insurance is with a small mutual company. Smaller companies may cover specific market segments cheaper as compared to the big name companies such as Geico and State Farm.

Other learning opportunities

• Auto Insurance Learning Center (State Farm)
• What is Full Coverage? (Allstate)
• Frontal Crash Tests (iihs.org)
• Child Safety FAQ (iihs.org)
• Vehicle Insurance in the U.S. (Wikipedia)