I can’t think of anyone who likes buying insurance coverage, in particular when it costs too dang much.
People have so many auto insurance companies to choose from, and although it’s nice to have a choice, so many choices can make it hard to compare rates.
Consumers need to get comparison quotes yearly because insurance prices tend to go up over time. Even if you got the best price on 2 Series insurance a few years ago the chances are good that you can find a lower rate today. Forget anything you know (or think you know) about insurance coverage because it’s time to teach you the fastest way to find better rates and still maintain coverage.
Buying car insurance is not rocket science. In a nutshell, everyone who has to buy insurance coverage will be able to save money. Although consumers must understand how insurance companies price insurance differently and apply this information to your search.
The method we recommend to compare insurance rates from multiple companies is to know most larger insurance companies provide online access to compare rate quotes. The only thing you need to do is provide information like if your license is active, the year, make and model of vehicles, whether you drive to work or school, and if it has an anti-theft system. Those rating factors is then sent to insurance companies and you will get price comparisons quickly.
Some providers don’t always publicize every possible discount very well, so the next list breaks down both well-publicized and the harder-to-find discounts you could be receiving when you buy car insurance online.
As a disclaimer on discounts, most credits do not apply to all coverage premiums. Most only cut individual premiums such as comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, company stockholders wouldn’t be very happy.
Companies and their offered discounts include:
If you want inexpensive car insurance quotes, ask each company or agent which discounts they offer. Some discounts might not apply in your state.
When buying proper insurance coverage, there really is not a one size fits all plan. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions can help discover whether your personal situation would benefit from an agent’s advice.
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area.
Learning about specific coverages of insurance can help you determine appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. These are typical coverage types found on the average insurance policy.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for dental work, ambulance fees, pain medications and surgery. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Uninsured or underinsured coverage – This provides protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and damage to your BMW 2 Series.
Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.
Comprehensive protection – This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like hail damage, damage from getting keyed and hitting a bird. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Collision – Collision coverage pays for damage to your 2 Series caused by collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims such as crashing into a ditch, crashing into a building, hitting a parking meter, scraping a guard rail and damaging your car on a curb. This coverage can be expensive, so you might think about dropping it from older vehicles. You can also bump up the deductible to bring the cost down.
Liability coverages – Liability coverage can cover damage or injury you incur to other’s property or people. This coverage protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.
Liability coverage pays for claims like court costs, funeral expenses, legal defense fees, loss of income and emergency aid. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.