How Much Does 2014 BMW 2 Series Insurance Cost?

Want lower insurance rates? Drivers have options when trying to find the lowest priced BMW 2 Series insurance. You can either waste hours struggling with agents trying to get quotes or leverage the internet to find the lowest rates. There are both good and bad ways to shop for insurance and you need to know the best way to compare rates for your BMW and get the cheapest rates either online or from local insurance agents.

You need to do rate comparisons before your policy renews since prices are adjusted regularly by insurance companies. Just because you found the best rates for 2 Series insurance a year ago you may be paying too much now. There is a lot of bad information regarding insurance on the internet, but you can learn some of the best techniques to lower your insurance premiums.

Get BMW 2 Series insurance cheaper

Lots of things are part of the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, although others are not as apparent such as whether you are married or how safe your car is.Part of the insurance coverage buying process is learning some of the factors that help calculate your insurance coverage rates. If you have a feel for what influences your rates, this empowers consumers to make smart changes that may result in lower insurance coverage prices.

The list below includes some of the things companies use to determine your rates.

• Careless driving means higher premiums – Attentive drivers have lower premiums compared to drivers with tickets. Only having one moving violation may cause rates to rise by twenty percent. Drivers who have received dangerous violations such as reckless driving, hit and run or driving under the influence may face state-mandated requirements to file a SR-22 with their state’s department of motor vehicles in order to drive a vehicle legally.
• Keep policy claims to a minimum – Car insurance companies provide lower rates to insureds who are not frequent claim filers. If you’re an insured who likes to file claims you can look forward to increased rates or even have your policy non-renewed. Your car insurance is meant to be used in the event of larger claims.
• Cheaper rates after marriage – Having a significant other may earn you lower rates on your insurance coverage policy. It means you’re more financially stable and insurance companies like that being married results in fewer claims.
• Buy a safe car and pay less – Safer cars cost less to insure. The safest vehicles result in less severe injuries and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders. If your BMW 2 Series is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
• Low deductibles mean high rates – Your deductibles define how much you are willing to pay before your insurance coverage pays a claim. Physical damage coverage, also called ‘full coverage’, insures against damage to your car. Some examples of covered claims would be colliding with a stationary object, damage from fire, and having a roll-over accident. The larger the amount you have to pay, the less your company will charge you for insurance for 2 Series insurance.
• Rates can drop if you have more than one policy – Most major companies afford discounts to clients that buy multiple policies, otherwise known as a multi-policy discount. The discount can be ten or even fifteen percent. Even though this discount sounds good, it’s in your best interest to compare other company rates to help guarantee you have the best rates.There is a good possibility that you can save money by insuring with multiple companies.
• Poor credit decisions can cost you – Having a bad credit rating can be a huge factor in determining your rates. So if your credit score can be improved, you could save money insuring your 2014 BMW 2 Series by improving your rating. Insureds with high credit ratings tend to be more responsible than drivers with poor credit scores.
• Alarms and GPS tracking lower insurance coverage rates – Owning a car with advanced anti-theft systems can get you a discount on your insurance coverage. Anti-theft devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft and help lower rates.

Don’t overlook these insurance discounts

Companies that sell car insurance don’t always advertise the entire discount list very clearly, so the following list contains both the well known and the more hidden credits that you can use to lower your rates.

• Defensive Driver – Successfully completing a course in safe driver could cut 5% off your bill and also improve your driving technique.
• Service Members Pay Less – Having an actively deployed family member can result in better prices.
• Auto/Life Discount – If the company offers life insurance, you could get a discounted price on car insurance if you buy some life insurance in addition to your auto policy.
• Pay Upfront and Save – If you pay your entire premium ahead of time instead of monthly or quarterly installments you may have a lower total premium amount.
• Discounts for New Vehicles – Insuring a new car can get you a discount due to better safety requirements for new vehicles.
• College Student Discount – College-age children living away from home attending college without a vehicle on campus could get you a discount.
• Federal Government Employee – Simply working for the federal government may reduce rates when you quote auto insurance for 2 Series insurance but check with your company.
• Drive Safe and Save – Drivers without accidents can get discounts for up to 45% lower rates for 2 Series insurance compared to rates paid by drivers with frequent claims.
• Save over 55 – If you qualify as a senior citizen, you may be able to get better insurance rates for 2 Series insurance.

Keep in mind that most credits do not apply to all coverage premiums. Some only apply to specific coverage prices like medical payments or collision. Just because it seems like all those discounts means the company will pay you, nobody gets a free ride. Any amount of discount will definitely lower your overall bill.

If you would like to see a list of insurers with discount rates, click this link.

Advertising myths

Consumers can’t get away from ads for the lowest price auto insurance from companies such as Allstate and Progressive. They all seem to tend to make the same promise that drivers will save a bundle if you get a free auto insurance quote and switch to them.

How does each company charge less that you’re paying now? Here is how they do it.

All the different companies require specific criteria for the type of driver that will generate a profit. An example of this type of risk profile might be described as over the age of 50, owns their home, and drives a lower-performance vehicle. Anybody who meets those qualifications will probably get cheap premium rates as well as save if they switch.

Potential insureds who don’t meet those criteria will probably have to pay a more expensive rate which usually ends up with the customer not purchasing. If you listen closely, the ads state “customers that switch” but not “all drivers who get quotes” save that much when switching. That’s the way insurance companies can confidently make it sound like they have such great prices. This emphasizes why it is so important to compare quotes as often as possible. Because you cannot predict with any certainty which company will have the best premium rates.

When to get professional advice

When it comes to buying coverage, there isn’t really a perfect coverage plan. Every insured’s situation is different.

Here are some questions about coverages that may help you determine if your insurance needs may require specific advice.

• Should I bundle my homeowners policy with my auto?
• What is roadside assistance coverage?
• How can I get high-risk coverage after a DUI?
• Is borrowed equipment or tools covered if stolen or damaged?
• What is an SR-22 filing?
• Is my 2014 BMW 2 Series covered for flood damage?
• Can I afford to buy a different vehicle if my 2014 BMW 2 Series is totaled?
• Do I have coverage when pulling a U-Haul trailer?

If you’re not sure about those questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It only takes a few minutes and can help protect your family.

Auto insurance 101

Understanding the coverages of car insurance can help you determine appropriate coverage for your vehicles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as hitting a bird, damage from a tornado or hurricane, falling objects, fire damage and damage from getting keyed. The highest amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Auto liability

This coverage provides protection from damage or injury you incur to a person or their property in an accident. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability coverage protects against claims like structural damage, attorney fees, medical expenses and pain and suffering. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses like dental work, surgery and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover both the driver and occupants as well as being hit by a car walking across the street. PIP is only offered in select states but can be used in place of medical payments coverage

Uninsured or underinsured coverage

This provides protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Collision coverage

This coverage will pay to fix damage to your 2 Series resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision can pay for things like colliding with a tree, colliding with another moving vehicle and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. It’s also possible to raise the deductible to bring the cost down.

Quote more. Save more.

Some companies do not offer rates over the internet and many times these small insurance companies only sell coverage through local independent agencies. Cheaper insurance coverage is possible online and from local agencies, and you need to price shop both in order to have the best chance of saving money.

When searching for low cost auto insurance quotes, it’s very important that you do not reduce coverage to reduce premium. There are too many instances where an accident victim reduced liability limits or collision coverage only to find out that the savings was not a smart move. Your objective should be to buy enough coverage at the best possible price but still have enough coverage for asset protection.

In this article, we presented a lot of tips how to lower your 2014 BMW 2 Series insurance prices. The most important thing to understand is the more times you quote, the higher your chance of finding cheaper auto insurance. You may even find the lowest prices come from the least-expected company.

Other resources

• Comprehensive Coverage (Liberty Mutual)
• Senior Drivers (Insurance Information Insitute)
• Credit Impacts Car Insurance Rates (State Farm)
• Understanding Rental Car Insurance (Insurance Information Insitute)