How Much Does 2011 BMW 7 Series Car Insurance Cost?

Looking for the cheapest car insurance rates for your BMW 7 Series? Finding the cheapest insurance for your BMW 7 Series can normally be difficult, but you can learn the following methods and make it easy.

There are more efficient ways to find car insurance online and we’ll show you the proper way to price shop coverage on a BMW and find the best price possible from both online companies and local agents.

Why you might pay inflated rates

One of the most helpful ways to save on insurance is to to have a grasp of the factors that help determine the level of your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that can help you get much lower annual insurance costs.

• Physical damage deductibles – Insurance for physical damage to your car, also called comprehensive and collision insurance, protects your BMW from damage. Some examples of covered claims would be a broken windshield, hitting a deer, and damage from a fallen tree branch. Physical damage deductibles tell how much you are willing to pay if a covered claim is submitted. The more expense you are required to pay out-of-pocket, the lower your rates will be for 7 Series insurance.
• Premiums for men may be higher – Over the last 30 years, statistics show that females tend to be a little less risky than males. It does not mean females are better drivers. Women and men tend to get into accidents at about the same rate, but guys have costlier accidents. Not only are claims higher, but men get more serious tickets like DWI (DUI) or reckless driving.
• A good credit rating can save money – Having a bad credit rating is a large factor in calculating your insurance rates. Therefore, if your credit score can use some improvement, you could pay less to insure your 2011 BMW 7 Series if you improve your credit rating. People with high credit scores tend to be more responsible and file fewer claims than drivers with poor credit scores.
• Save money with alarms and GPS tracking – Choosing to buy a car with advanced anti-theft systems can help bring down rates. Systems that thwart theives like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder auto theft and help lower rates.
• Consolidate policies and save money – Some insurance companies apply a discount to people who consolidate policies with them in the form of a multi-policy discount. The amount of the discounts can be ten or even fifteen percent. If you currently are using one company, you still need to compare other company rates to verify if the discount is saving money.
• Inexpensive frequent insurance claims are not good – If you are the type of insured that files lots of claims you can definitely plan on either policy cancellation or increased premiums. Insurance companies generally give cheaper rates to policyholders who only file infrequent claims. Insurance coverage is intended for more catestrophic claims.

Buy insurance coverage online

The majority of larger companies like Allstate, Geico and Progressive allow consumers to get prices on the web. Getting online quotes is easy for anyone as you simply type in your personal and coverage information into the quote form. Upon sending the form, their system requests credit information and your driving record and quotes a price based on the information you submitted.

Quoting online makes it a lot easier to compare rates but the work required to visit each company’s website and repetitively type in the same information is a big time waster. But it’s necessary to have as many quotes as possible if you are searching for the lowest insurance coverage rates.

The easy way to compare rates

An easier way to lower your rates utilizes a single form to obtain quotes from many companies. It’s a real time-saver, requires less work, and makes comparison shopping much more enjoyable and efficient. As soon as you send your information, your coverage is rated and you can select your choice of the quote results.

If the quotes result in lower rates, you can simply submit the application and buy the policy. The whole process just takes a couple of minutes and you will know how your current rates stack up.

In order to use this form to compare rates, simply click here to open in new window and complete the simple form. If you have a policy now, it’s recommended you type in your coverages as close as possible to your current policy. Doing this guarantees you are getting a price comparison based on identical coverages.

Beware of misleading car insurance ads

Consumers constantly see and hear ads that claim the lowest prices by Allstate, Geico and Progressive. All the ads tend to make the same promise that you can save just by switching your policy.

How do they all charge less that you’re paying now?

Many companies have underwriting criteria for the type of customer that earns them the most money. One example of a profitable customer could possibly be over age 30, has never had a policy lapse, and has great credit. Anybody who fits that profile will get a cheap rate quote and is almost guaranteed to pay quite a bit less when switching companies.

Potential insureds who are not a match for those standards may receive a higher premium which usually ends up with the driver buying from a lower-cost company. The ad wording is “drivers who switch” but not “all drivers who get quotes” can get the lowest rates when switching. That’s the way insurance companies can confidently make those statements.

This really drives home the point why you should compare as many free auto insurance quotes as you can. It is just not possible to predict which insurance companies will fit your personal profile best.

Discounts can really help to save

Insurance coverage is expensive, but there’s a good chance there are discounts that could help you make your next renewal payment. Many of these discounts will be applied automatically at the time of quoting, but once in a while a discount must be asked for before you get the savings.

• Discount for Home Ownership – Owning a home may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
• Air Bags and Passive Restraints – Factory options such as air bags and/or automatic seat belt systems may get savings of 25 to 30%.
• Early Switch Discount – Some companies give discounts for signing up prior to your current policy expiring. You can save around 10% with this discount.
• Discounts for Seat Belt Usage – Buckling up and requiring all passengers to buckle up can save 10% or more on the medical payments or PIP coverage costs.
• Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and that can save you a little bit as well.
• Buy New and Save – Buying a new car instead of a used car can save up to 30% since newer vehicles are generally safer.
• Senior Citizen Discount – If you’re over the age of 55, you can get better insurance coverage rates for 7 Series insurance.

We need to note that some of the credits will not apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. Even though it may seem like adding up those discounts means a free policy, you aren’t that lucky. But any discount should help reduce your policy cost.

A few of the larger companies and some of their more popular discounts can be found below.

• Progressive has discounts for continuous coverage, multi-vehicle, good student, multi-policy, homeowner, and online signing.
• AAA may have discounts that include AAA membership discount, good student, good driver, multi-car, education and occupation, and anti-theft.
• Farmers Insurance offers discounts including distant student, electronic funds transfer, early shopping, switch companies, mature driver, and multi-car.
• Geico discounts include defensive driver, military active duty, anti-lock brakes, air bags, multi-policy, and driver training.
• Esurance may offer discounts for DriveSense, renters, good student, good driver, Pac-12 alumni, and online quote.
• SAFECO may include discounts for accident prevention training, teen safe driver, drive less, homeowner, anti-theft, teen safety rewards, and safe driver.
• State Farm offers premium reductions for good student, multiple policy, multiple autos, good driver, Drive Safe & Save, and accident-free.

When getting free auto insurance quotes, it’s a good idea to each company the best way to save money. Depending on the company, some discounts may not apply in your area. To choose insurance companies that offer discounts, follow this link.

Will just any policy work for me?

When buying coverage, there really is no perfect coverage plan. Everyone’s situation is unique.

For instance, these questions might point out if your insurance needs will benefit from professional help.

• Do I pay less for low miles?
• Do I have coverage when making deliveries for my home business?
• Should I rate my 2011 BMW 7 Series as pleasure use or commute?
• Are split liability limits better than a combined single limit?
• Am I covered when driving in Canada or Mexico?
• Why am I be forced to buy a membership to get insurance from some companies?
• Do I have coverage for damage caused while driving under the influence?
• Where can I get insurance after a DUI in my state?
• Can my teen drive my company car?
• Are my tools covered if they get stolen from my vehicle?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form. It’s fast, doesn’t cost anything and can help protect your family.

Car insurance coverages for a BMW 7 Series

Having a good grasp of a insurance policy helps when choosing the right coverages and proper limits and deductibles. Insurance terms can be ambiguous and coverage can change by endorsement.

Auto collision coverage

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

Collision coverage pays for claims like sideswiping another vehicle, backing into a parked car, rolling your car, driving through your garage door and hitting a mailbox. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.

Comprehensive coverages

Comprehensive insurance covers damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as theft, fire damage and a broken windshield. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses for things like surgery, doctor visits, dental work and chiropractic care. They are used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 7 Series.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Liability

This coverage can cover damage that occurs to a person or their property that is your fault. This insurance protects YOU from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Some companies may use a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage pays for claims like medical expenses, funeral expenses, repair costs for stationary objects and loss of income. The amount of liability coverage you purchase is up to you, but consider buying as large an amount as possible.

A penny saved is a penny earned

Budget-conscious 2011 BMW 7 Series insurance can be sourced from both online companies and also from your neighborhood agents, so you should be comparing quotes from both to have the best rate selection. There are still a few companies who don’t offer the ability to get a quote online and most of the time these small insurance companies only sell coverage through independent agents.

In this article, we presented many tips how you can shop for 2011 BMW 7 Series insurance online. It’s most important to understand that the more times you quote, the better your comparison will be. Drivers may discover the lowest priced insurance comes from a company that doesn’t do a lot of advertising.

People leave their current company for a variety of reasons including policy cancellation, extreme rates for teen drivers, policy non-renewal or even an unsatisfactory settlement offer. No matter why you want to switch, finding a great new company can be less work than you think.

To read more, feel free to browse the resources below:

• Shopping for a Safe Car (Insurance Information Insitute)
• Tools for Teen Driving Safety (State Farm)
• Winter Driving (Insurance Information Insitute)
• Safety Features for Your New Car (State Farm)
• Safe Vehicles for Teens (iihs.org)