2014 BMW i8 Insurance Rates – 5 Tips to Save

Trying to find low cost Driverscar insurance can seem to be hard for beginners to buying insurance online. With so many agents and insurance companies available, it can easily be hard work to find more affordable rates.

Consumers need to check car insurance prices yearly because car insurance prices change regularly. If you had the best price for i8 insurance a couple years back you will most likely find a better rate today. Ignore everything you know about car insurance because you’re going to get a crash course in the best way to properly buy coverages and cut your premium.

If you are paying for car insurance now, you will most likely be able to lower your premiums substantially using this strategy. The purpose of this article is to introduce you to how to get online quotes and some tips to save money. Although vehicle owners do need to know the way insurance companies market on the web and take advantage of how the system works.

How to find cheap car insurance

When shopping for car insurance there are multiple ways of comparing rates from companies that offer car insurance in your state. The quickest method to compare 2014 BMW i8 insurance prices involves getting comparison quotes online. This is quite simple and can be completed in just a few minutes using one of these methods.

The first (and easiest) way consumers can make multiple comparisons is to use a rate comparison form (click to open form in new window). This easy form saves time by eliminating separate quotation requests for each company you want a rate for. One simple form gets you price quotes from all major companies. Recommended for those who want to invest the least amount of time.

A less efficient way to shop for car insurance online requires a visit to the website for each individual company to request a price quote. For examples sake, we’ll assume you want to compare prices for Farmers, Progressive and Geico. To find out each rate you need to go to every website and repeatedly enter your information, which can get old fast.

To view a list of companies in your area, click here.

Whichever method you choose, be sure to compare nearly identical coverages on every quote. If you have different deductibles it will be nearly impossible to determine the best price for your BMW i8. Quoting even small variations in limits can make a big difference in price. It’s important to know that comparing more quotes gives you a better chance of getting the best offered rates. Some regional insurers cannot provide prices over the internet, so you should also compare price estimates from the smaller companies as well.

Car insurance policy discounts you can’t miss

Insuring your vehicles can cost a lot, but you may find discounts that many consumers don’t even know exist. Certain reductions will be credited when you complete an application, but some may not be applied and must be requested specifically prior to receiving the credit.

• Passive Restraint Discount – Factory air bags or motorized seat belts may qualify for discounts of up to 25% or more.
• Sign Early and Save – Some insurance companies give discounts for signing up before your current coverage expires. Ten percent is about the average savings.
• Savings for New Vehicles – Insuring a new car can be considerably cheaper compared to insuring an older model.
• Senior Citizens – Drivers that qualify as senior citizens are able to get a small discount on rates for i8 insurance.
• Pay Early and Save – By making one initial payment instead of monthly or quarterly installments you can avoid monthly service charges.

Discounts lower rates, but many deductions do not apply to the entire policy premium. Most only cut the cost of specific coverages such as comp or med pay. So despite the fact that it appears having all the discounts means you get insurance for free, companies don’t profit that way.

Larger car insurance companies and some of the discounts are included below.

• State Farm may include discounts for anti-theft, Drive Safe & Save, driver’s education, multiple autos, good driver, good student, and Steer Clear safe driver discount.
• Progressive includes discounts for online signing, homeowner, good student, continuous coverage, and multi-policy.
• Progressive offers discounts for multi-policy, homeowner, online quote discount, good student, continuous coverage, multi-vehicle, and online signing.
• MetLife offers discounts including multi-policy, defensive driver, claim-free, good student, accident-free, and good driver.
• Farm Bureau has discounts for renewal discount, multi-vehicle, good student, 55 and retired, and youthful driver.
• Geico has savings for driver training, federal employee, emergency military deployment, good student, and multi-policy.
• SAFECO policyholders can earn discounts including anti-lock brakes, homeowner, anti-theft, teen safe driver, and bundle discounts.

If you are trying to find cheaper insurance coverage quotes, ask each company which discounts you qualify for. A few discounts might not be offered on policies everywhere. If you would like to choose from a list of car insurance companies that can offer you the previously mentioned discounts, click this link.

Insurance agents can help

When it comes to choosing the best auto insurance coverage for your vehicles, there really is not a one size fits all plan. Everyone’s needs are different.

These are some specific questions can help discover whether your personal situation might need an agent’s assistance.

• What is medical payments coverage?
• Does my car insurance cover rental cars?
• Can I get a multi-policy discount?
• Is my state a no-fault state?
• Which is better, split liability limits or combined limits?
• Does my medical payments coverage pay my health insurance deductible?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, fill out this quick form.

Car insurance coverages for a BMW i8

Having a good grasp of your policy can help you determine the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Coverage for medical payments

Med pay and PIP coverage pay for short-term medical expenses for things like rehabilitation expenses, X-ray expenses and prosthetic devices. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants in addition to getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay

Uninsured and underinsured coverage

This provides protection from other drivers when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and damage to your 2014 BMW i8.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.

Comprehensive coverages

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like hitting a bird, a tree branch falling on your vehicle, damage from flooding and theft. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Coverage for collisions

This coverage pays for damage to your i8 resulting from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims like driving through your garage door, hitting a mailbox, colliding with another moving vehicle, colliding with a tree and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also raise the deductible to save money on collision insurance.

Auto liability

Liability insurance will cover damages or injuries you inflict on a person or their property. It protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

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 50/100/50 which stand for a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability can pay for things like emergency aid, court costs and medical expenses. How much coverage you buy is your choice, but buy as high a limit as you can afford.