2012 BMW 7 Series Car Insurance Quotes – 9 Ideas for Best Rates

Looking for lower car insurance rates for your BMW 7 Series? Are you frustrated by the number of car insurance sources? There are such a vast assortment of sources available that it can easily become a real hassle to find lower rates.

If you are paying for car insurance now, you will most likely be able to lower your premiums substantially using this strategy. Shopping for the lowest cost car insurance is easy if you know what you’re doing. Although drivers should learn the way insurance companies price online insurance and take advantage of how the system works.

How to compare auto insurance price quotes

Performing a rate comparison can be exhausting if you don’t utilize the easiest way. You can spend your afternoon talking about coverages with insurance companies in your area, or you can stay home and use online quotes to achieve your goal.

Many insurance companies participate in an industry program where insurance shoppers only type in their quote data once, and every company then gives them pricing. This eliminates the need for form submissions for each company you want a rate for.

To compare rates now click here to start a free quote.

The only downside to using this type of form is buyers cannot specifically choose the companies you want to price. If you prefer to choose specific insurance companies to request quotes from, we have assembled a list of low cost auto insurance companies in your area. View list of insurance companies.

It’s up to you which method you use, but make sure you are using equivalent information for each price quote. If you compare different data you will not be able to make an equal comparison. Even a minor difference in coverage limits can result in a big premium difference. Just remember that making a lot of price comparisons provides better odds of finding more affordable insurance. Not every company does prices over the internet, so you also need to get price estimates from them, too.

Insurance rates and discounts

Some insurance providers don’t always list all their discounts in a way that’s easy to find, so we took the time to find some of the more common and also the lesser-known discounts that may be available.

• Sign Online – Some insurance companies give back up to $50 for buying your policy online.
• Club Memberships – Having an affiliation with a qualifying organization is a simple method to lower premiums when shopping for insurance.
• Drivers Education – Require your teen driver to participate in a local driver’s education class as it can save substantially.
• Anti-lock Brakes – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents and will save you 10% or more.
• Onboard Data Collection – People who choose to allow their insurance company to spy on when and where they use their vehicle through the use of a telematics system such as State Farm’s In-Drive might get better premium rates as long as the data is positive.
• Distant Student Discount – who live away from home at college and do not have access to a covered vehicle may be able to be covered for less.
• Accident Forgiveness Coverage – Not a discount per se, but companies like Progressive, Allstate, and Liberty Mutual will forgive one accident before they charge you more for coverage so long as you are claim-free prior to being involved in the accident.
• Discount for Passive Restraints – Options like air bags and/or automatic seat belt systems can qualify for discounts of 20 to 30 percent.
• Homeowners Discount – Owning your own home or condo may trigger a policy discount on insurance because it means you have a higher level of financial diligence.

Policy discounts save money, but most discount credits are not given to all coverage premiums. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like it’s possible to get free car insurance, nobody gets a free ride.

The best insurance companies and a summarized list of policyholder discounts are:

• State Farm offers premium reductions for Drive Safe & Save, anti-theft, multiple policy, passive restraint, and good student.
• Progressive may include discounts for multi-vehicle, multi-policy, online signing, good student, online quote discount, and homeowner.
• Travelers discounts include driver training, continuous insurance, save driver, multi-policy, and payment discounts.
• American Family may have discounts that include good driver, good student, early bird, accident-free, Steer into Savings, defensive driver, and TimeAway discount.
• Liberty Mutual offers discounts including new vehicle discount, good student, multi-policy, hybrid vehicle, and teen driver discount.

If you are trying to find inexpensive car insurance quotes, ask all the companies which discounts you may be entitled to. Depending on the company, some discounts may not apply to policies in your state. To see insurers that offer the discounts shown above, follow this link.

Situations that may require an agent’s advice

When it comes to choosing the right insurance coverage, there is no one size fits all plan. Your needs are not the same as everyone else’s.

For instance, these questions might point out if your situation might need an agent’s assistance.

• Are all vehicle passengers covered by medical payments coverage?
• Should I have a commercial auto policy?
• Can I rent a car in Mexico?
• Do I have any recourse if my insurance company denies a claim?
• What can I do if my company denied a claim?
• Where can I find DUI or SR-22 insurance?
• Do I need PIP (personal injury protection) coverage in my state?
• Will I lose any money if I cancel my policy before it expires?
• Do I need higher collision deductibles?

If you can’t answer these questions but you know they apply to you, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form.

Do insurance companies bend the truth?

Respected companies like State Farm and Allstate regularly use television, radio, and online ads. They all make an identical promise that people will save if you just switch your insurance coverage to their company. How do they all charge you a lower premium? Here is how they do it.

Many companies quote the lowest rates for the type of driver that will most likely be profitable. One example of this type of driver might have to be over age 30, has few claims, and does not commute to work. A customer getting a price quote that matches those criteria receive the lowest rate quotes and will most likely save if they switch.

People who do not meet these standards will probably have to pay higher rates and ends up with the customer buying from someone else. The wording the ads use say “customers who switch” but not “all drivers who get quotes” save that much. That’s why companies can truthfully advertise the way they do. Because each company has a different risk profile, you really need to get car insurance quotes as often as possible. It’s just not possible to know which insurance companies will be your best fit.

Auto insurance coverages 101

Having a good grasp of a auto insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.

Comprehensive (Other than Collision)

This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as rock chips in glass, a tree branch falling on your vehicle, vandalism and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Liability coverages

Liability coverage will cover damage that occurs to other’s property or people. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability can pay for things like structural damage, legal defense fees and loss of income. How much coverage you buy is a decision to put some thought into, but consider buying higher limits if possible.

Medical expense insurance

Medical payments and Personal Injury Protection insurance kick in for immediate expenses like funeral costs, rehabilitation expenses and prosthetic devices. They are often used in conjunction with a health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and will also cover getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Protection from uninsured/underinsured drivers

This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 7 Series.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Collision insurance

This coverage will pay to fix damage to your 7 Series caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like backing into a parked car, rolling your car, scraping a guard rail and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

Smart shoppers get results

Drivers switch companies for a variety of reasons including extreme rates for teen drivers, unfair underwriting practices, being labeled a high risk driver and poor customer service. No matter why you want to switch, finding a new insurance coverage company is not as hard as you think.

As you go through the steps to switch your coverage, it’s not a good idea to reduce coverage to reduce premium. There are too many instances where an insured cut collision coverage and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy a smart amount of coverage at a price you can afford, but do not skimp to save money.

Budget-friendly insurance coverage is possible both online and with local insurance agents, and you should compare price quotes from both to get a complete price analysis. A few companies may not have the ability to get quotes online and most of the time these regional carriers only sell through independent insurance agencies.

To learn more, link through to the resources below:

• Bodily Injury Coverage (Liberty Mutual)
• Side Impact Crash Tests (iihs.org)
• Crash Avoidance Technologies FAQ (iihs.org)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)