Save on 2012 BMW 3 Series Car Insurance Cost

Want the cheapest auto insurance rates for your BMW 3 Series? Are you at wits end from scraping the payment together to insure your BMW every month? Your situation is no different than millions of other people.

Multiple car insurance companies compete to insure your vehicles, and it can be difficult to compare rates and get the definite cheapest price

It’s a good idea to shop coverage around occasionally due to the fact that insurance prices trend upward over time. Just because you found the best quotes for 3 Series coverage at your last renewal you will most likely find a better rate today. Block out anything you think you know about auto insurance because you’re about to learn the fastest and easiest way to save on auto insurance.

You may qualify for discounts

Companies that sell car insurance don’t always advertise every discount they offer in an easy-to-find place, so we break down a few of the more well known and also the lesser-known discounts that you may qualify for. If you do not double check each discount you qualify for, you are throwing money away.

• Driving Data Discount – Insureds that choose to allow companies to scrutinize vehicle usage by using a telematic data system like Allstate’s Drivewise may get a rate reduction if they exhibit good driving behavior.
• Buy New and Save – Adding a new car to your policy can save up to 30% since newer vehicles are generally safer.
• Discount for Swiching Early – A few insurance coverage companies give discounts for buying a new policy prior to your current policy expiration. You may see this discount when you get car insurance quotes online.
• Low Mileage Discounts – Low annual miles could be rewarded with lower rates due to less chance of an accident.
• Good Student – Maintaining excellent grades can earn a discount of 20% or more. The discount lasts well after school through age 25.
• Drive Safe and Save – Insureds who avoid accidents may receive a discount up to 45% for 3 Series coverage than drivers with accident claims.
• Defensive Driving Course – Taking part in a driver safety course is a good idea and can lower rates if you qualify.
• No Charge for an Accident – but a handful of insurance companies will allow you to have one accident before hitting you with a surcharge if your claims history is clear for a specific time period.
• Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
• Home Ownership Discount – Just being a homeowner can help you save on insurance coverage because maintaining a house means you have a higher level of financial diligence.

Consumers should know that most of the big mark downs will not be given to all coverage premiums. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Despite the fact that it seems like all those discounts means the company will pay you, company stockholders wouldn’t be very happy.

Popular insurance coverage companies and a summarized list of policyholder discounts are outlined below.

• American Family includes discounts for multi-vehicle, mySafetyValet, accident-free, bundled insurance, good student, defensive driver, and air bags.
• Farm Bureau has discounts for safe driver, driver training, multi-policy, 55 and retired, multi-vehicle, and good student.
• State Farm policyholders can earn discounts including anti-theft, student away at school, Drive Safe & Save, Steer Clear safe driver discount, and multiple policy.
• Travelers discounts include save driver, hybrid/electric vehicle, new car, student away at school, IntelliDrive, multi-car, and continuous insurance.
• The Hartford may include discounts for air bag, driver training, good student, anti-theft, and bundle.
• Geico has savings for air bags, anti-lock brakes, seat belt use, membership and employees, multi-vehicle, good student, and five-year accident-free.
• Progressive offers discounts for good student, multi-vehicle, online quote discount, continuous coverage, online signing, and homeowner.

When getting a coverage quote, ask each insurance company how you can save money. Some discounts might not be offered on policies in your area. For a list of companies that have a full spectrum of discounts, click here to view.

Compare insurance coverage quotes

Effectively comparing insurance coverage prices can be exhausting if you aren’t aware of the most efficient way. You can waste a lot of time discussing policy coverages with insurance agencies in your area, or you could save time and use online quotes to get rate comparisons in just a few minutes.

Most of the best insurance companies belong to an insurance system that enables customers to enter their coverage request one time, and every company then gives them pricing determined by their information. This system prevents you from having to do form submissions for each company.

To enter your information into the quoting system, click here to open in new window.

The one downside to getting quotes like this is you are unable to specify the companies you will receive quotes from. So if you prefer to choose specific providers to request quotes from, we put together a list of the cheapest insurance coverage companies in your area. View list of insurance companies.

However you get your quotes, ensure you are comparing identical coverage limits and deductibles on every quote you get. If the quotes have unequal deductibles or liability limits it’s not possible to make a fair comparison for your BMW 3 Series. Quoting even small variations in limits may result in large price differences. And when price shopping your coverage, obtaining a wide range of quotes will improve the odds of getting better pricing.

There’s no such thing as the perfect auto insurance policy

When it comes to choosing coverage, there isn’t really a single plan that fits everyone. Every situation is different so your insurance should reflect that For instance, these questions might help in determining whether or not you could use an agent’s help.

• Is rental equipment covered for theft or damage?
• I have health insurance so do I need medical payments coverage?
• Why does it cost so much to insure a teen driver?
• Why am I required to buy high-risk coverage?
• Is my 2012 BMW 3 Series covered for smoke damage?
• Who is covered when they drive my 2012 BMW 3 Series?
• Do I pay less for low miles?
• What exactly is covered by my policy?
• How much liability coverage do I need in my state?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Insurance coverages and their meanings

Learning about specific coverages of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages found on most insurance policies.

Liability coverage

This coverage provides protection from damage that occurs to other people or property by causing an accident. This coverage protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.

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 might see policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Another option is a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for claims like repair bills for other people’s vehicles, repair costs for stationary objects, pain and suffering and legal defense fees. How much coverage you buy is a personal decision, but consider buying as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for short-term medical expenses for things like pain medications, EMT expenses and doctor visits. The coverages can be utilized in addition to your health insurance plan or if you lack health insurance entirely. It covers both the driver and occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive insurance

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like falling objects, damage from flooding, theft, vandalism and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto collision coverage

Collision coverage pays for damage to your 3 Series from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims like damaging your car on a curb, crashing into a ditch and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. You can also increase the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This gives you protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Frequently these limits are similar to your liability insurance amounts.

A little work can save a LOT of money

We just covered some good ideas how to save on 2012 BMW 3 Series insurance. The most important thing to understand is the more you quote car insurance, the better likelihood of getting affordable car insurance. You may be surprised to find that the lowest prices are with a company that doesn’t do a lot of advertising. Regional companies often have lower rates on specific markets compared to the large companies like Geico and State Farm.

Lower-priced 2012 BMW 3 Series insurance is possible online and with local insurance agents, so you should compare both to have the best selection. There are still a few companies who may not provide rates over the internet and many times these small, regional companies sell through local independent agents.

More detailed insurance coverage information is available in these articles:

• Auto Insurance FAQ (Farmers Insurance)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)
• Collision Coverage (Liberty Mutual)
• Child Safety Seats (Insurance Information Insitute)