How Much Does 2015 BMW 7 Series Insurance Cost?

No sane person loves paying for auto insurance, especially knowing the cost is way too high. You have multiple insurers to buy insurance from, and though it is a good thing to have a selection, more options can take longer to compare rates and find the lowest cost auto insurance.

You should make it a habit to compare prices once or twice a year because auto insurance prices go up and down regularly. Even if you got the lowest quotes for 7 Series coverage last year you will most likely find a better rate today. Forget anything you know (or think you know) about auto insurance because we’re going to demonstrate the best way to find great coverage at a great price.

Finding insurance

Most larger insurance companies provide coverage price quotes direct online. Doing online price comparisons is easy for anyone as you simply type in into a form. When complete, the company’s rating system will order reports for credit and driving violations and provides a quote. This streamlines rate comparisons, but the process of having to visit each company’s website and repetitively enter the same data into a form can be a bit tiresome and repetitive. But it’s absolutely necessary to have as many quotes as possible if you want to find a better rate.

Compare rates the easy way

A more efficient way to compare insurance pricing uses just one form to get prices from several companies at one time. It’s a real time-saver, eliminates form submissions, and makes online price comparison a little more enjoyable. As soon as the form is sent, it is quoted and you are able to buy your choice of the price quotes you receive.

If the quotes result in lower rates, you can click and sign and purchase coverage. This process can be completed in a matter of minutes and can result in significant savings.

To compare rates now, simply click here to open in new window and submit your coverage information. To compare your current rates, we recommend you complete the form with the insurance coverages exactly as they are listed on your policy. Doing this guarantees you will have comparison quotes based on the exact same insurance coverage.

Big brands don’t always mean big savings

Drivers can’t escape the ads for auto insurance savings by State Farm, Geico and Progressive. All the companies make the point that drivers will save a bundle if you move to their company.

It sounds good, but how can they all lower your prices? It’s all in the numbers.

Insurance providers quote their cheapest rates for the type of insured that makes them money. One example of this type of risk profile could be a mature driver, has had continuous coverage, and insures a new vehicle. Anybody who matches those parameters will get a cheap rate quote and have a good chance to save a lot of money.

Consumers who cannot meet this ideal profile will be charged higher premiums with the end result being business going elsewhere. The ads say “drivers who switch” not “everyone that quotes” can save as much as they claim. That’s why companies can truthfully make claims like that.

Because of these techniques, it’s extremely important to do a quote comparison often. It is just not possible to predict which auto insurance company will provide the lowest premium rates.

Take policy discounts and save

Insuring your fleet can be pricey, but there could be available discounts to help bring down the price. Some discounts apply automatically at the time you complete a quote, but a few need to be asked about prior to getting the savings. If you’re not getting every credit possible, you are throwing money away.

• 55 and Retired – Mature drivers could receive a small discount on rates for 7 Series coverage.
• Distant College Student Discount – Youth drivers who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.
• Discounts for Federal Employees – Active or retired federal employment could cut as much as 10% off for 7 Series coverage with some car insurance companies.
• Telematics Data Discounts – Policyholders that allow their company to analyze where and when they drive by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they are good drivers.
• Paper-free Discount – A handful of larger companies will discount your bill up to fifty bucks for completing your application on the web.

Drivers should understand that some of the credits will not apply to your bottom line cost. Some only reduce individual premiums such as collision or personal injury protection. So even though you would think you could get a free car insurance policy, company stockholders wouldn’t be very happy. But any discount will cut your overall premium however.

Companies and the discounts they provide can be read below.

• American Family may offer discounts for TimeAway discount, bundled insurance, mySafetyValet, air bags, and good student.
• State Farm offers discounts including Drive Safe & Save, accident-free, multiple autos, good driver, safe vehicle, and anti-theft.
• 21st Century offers premium reductions for air bags, anti-lock brakes, good student, defensive driver, homeowners, and teen driver.
• Travelers has savings for IntelliDrive, multi-car, new car, hybrid/electric vehicle, home ownership, and student away at school.
• Geico has discounts for seat belt use, federal employee, good student, air bags, and anti-lock brakes.

Before purchasing a policy, check with each company how you can save money. A few discounts might not be offered on policies in your area.

Which policy gives me the best coverage?

When it comes to choosing the best insurance coverage coverage for your personal vehicles, there really is not a perfect coverage plan. Every insured’s situation is different so this has to be addressed. For example, these questions may help highlight whether your personal situation might need an agent’s assistance.

• Can I rent a car in Mexico?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• When do I need to add a new car to my policy?
• Do I pay less for low miles?
• I have health insurance so do I need medical payments coverage?
• Does my insurance cover my expensive audio equipment?
• Will filing a claim cost me more?
• Is my 2015 BMW 7 Series covered for flood damage?
• Do I need motorclub coverage?

If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.

Car insurance coverages for a BMW 7 Series

Knowing the specifics of a insurance policy helps when choosing appropriate coverage and proper limits and deductibles. Insurance terms can be confusing and even agents have difficulty translating policy wording. These are typical coverages offered by insurance companies.

Auto collision coverage

This pays for damage to your 7 Series from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like backing into a parked car, rolling your car, sideswiping another vehicle, colliding with a tree and crashing into a ditch. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.

UM/UIM Coverage

Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as damage to your BMW 7 Series.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Coverage for liability

Liability insurance protects you from damage or injury you incur to other’s property or people in an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have $50,000 bodily injury coverage, $100,000 for the entire accident, and property damage coverage for $50,000. Another option is one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability can pay for things like repair costs for stationary objects, pain and suffering, medical expenses and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but consider buying higher limits if possible.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like doctor visits, EMT expenses, chiropractic care and pain medications. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants in addition to being hit by a car walking across the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like fire damage, damage from flooding and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Shop around and save

More affordable insurance coverage is available online and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates. Some companies may not have internet price quotes and usually these smaller providers sell through independent agents.

We just covered some good ideas how you can shop for 2015 BMW 7 Series insurance online. It’s most important to understand that the more providers you compare, the higher the chance of saving money. You may even discover the best price on insurance coverage is with a company that doesn’t do a lot of advertising. They may have significantly lower rates on certain market segments compared to the large companies like Progressive and Geico.

To learn more, feel free to browse the articles below:

• How to Avoid Buying a Flooded Car (Insurance Information Insitute)
• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Property Damage Coverage (Liberty Mutual)
• Teen Driving Statistics (Geico)