Lower Your 2015 BMW i8 Insurance Cost

There isn’t anyone who looks forward to paying for insurance coverage, especially when they are aware that they could find lower prices if they just compared rates.

Many insurers vie for your business, and because of this it can be hard to compare insurance companies to get the best rates possible.

It’s a great practice to do rate comparisons once or twice a year because insurance coverage rates are adjusted regularly by insurance companies. Even if you got the best rate for i8 coverage on your last policy you can probably find a lower rate today. Forget all the misinformation about insurance coverage because I’m going to let you in on the secrets to the things you must know in order to find great coverage at a great price.

Low cost insurance coverage prices

All the larger insurance coverage companies like Allstate and Progressive allow consumers to get insurance quotes on the web. Obtaining pricing is fairly simple as you just type in the coverage amounts you desire as detailed in the form. Behind the scenes, their quoting system requests information on your driving record and credit history and returns pricing information based on the information you submitted. Online quotes makes comparing rates easy, but having to visit each company’s website and repetitively type in your information is a big time waster. But it’s also necessary to perform this step if you are searching for the best price on insurance coverage.

An easier way to find lower prices utilizes a single form to obtain quotes from many companies. It saves time, requires less work, and makes rate comparisons much easier to do. After sending your information, it is rated and you can choose your choice of the quote results.

If the quotes result in lower rates, it’s easy to complete the application and purchase coverage. This process takes 15 minutes at the most and could lower your rates considerably.

To quickly find out how much you can save on insurance coverage, simply click here to open in new window and enter your vehicle and coverage information. If you have a policy now, it’s recommended you type in just like they are on your policy. Using the same limits helps guarantee you will have a fair comparison for exact coverage.

Four factors that affect insurance costs

Many things are considered when you get a price on insurance. Some are pretty understandable such as traffic violations, but some are more transparent such as whether you are married or your commute time.

The factors shown below are just a few of the factors insurance companies consider when setting prices.

• How much liability protection do you need? – Liability insurance kicks in when you are responsible for physical damage or personal injury to other. It will provide for a legal defense to attempt to prove you were not liable. This coverage is relatively inexpensive compared to other policy coverages, so insureds should have plenty of protection for their assets.
• High credit history translates to low premiums – Your credit score is likely to be a major factor in determining your rates. People with good credit tend to be better drivers and file fewer claims as compared to drivers with poor credit. If your credit rating is lower than you’d like, you may save money insuring your 2015 BMW i8 by taking the time to improve your credit score.
• Lower rates for married couples – Having a wife or husband may earn you lower rates when buying insurance. Having a significant other generally demonstrates drivers are more stable financially it has been statistically shown that married drivers tend to have fewer serious accidents.
• Your career may increase rates – Careers such as doctors, social workers and accountants generally have higher premium rates in part from intense work requirements and incredibly demanding work hours. Other jobs like professors, engineers and homemakers receive lower rates for i8 coverage.

Discounts for affordable insurance rates

Car insurance companies don’t necessarily list all their discounts in a way that’s easy to find, so the below list has some of the best known as well as some of the hidden discounts that you may qualify for.

• Air Bags and Passive Restraints – Vehicles with factory air bags can get savings of 25 to 30%.
• Accident Waiver – Not a discount per se, but certain companies permit an accident before your rates go up if you have no claims for a particular time prior to the accident.
• Homeowners Discount – Being a homeowner may trigger a policy discount on insurance because of the fact that having a home requires personal responsibility.
• Seat Belts Save – Using a seat belt and requiring all passengers to use a seat belt may be able to save a few bucks on the medical payments or PIP coverage costs.
• Onboard Data Collection – People who choose to allow their insurance company to monitor where and when they drive by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they have good driving habits.
• Pay Upfront and Save – If paying your policy premium upfront as opposed to paying monthly you could save up to 5%.

Remember that most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the cost of specific coverages such as liability and collision coverage. Just because it seems like having all the discounts means you get insurance for free, nobody gets a free ride.

To choose insurance companies offering insurance discounts, follow this link.

You may need specialized auto insurance coverage

When buying proper insurance coverage, there really is not a perfect coverage plan. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that can help discover if you will benefit from professional help.

• What if I owe more than I can insure my car for?
• How high should my medical payments coverage be?
• Is rental equipment covered for theft or damage?
• When should my teen driver be added to my policy?
• What vehicles should carry emergency assistance coverage?
• Why am I required to get a high-risk car insurance policy?
• How do I file an SR-22 for a DUI in my state?
• Does medical payments coverage apply to all occupants?
• What can I do if my company won’t pay a claim?

If you’re not sure about those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.

Specific coverages for a BMW i8

Learning about specific coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. These are the usual coverages offered by insurance companies.

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 then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as a tree branch falling on your vehicle, damage from flooding, hitting a bird and fire damage. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance kick in for immediate expenses such as surgery, prosthetic devices, ambulance fees, EMT expenses and X-ray expenses. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants as well as getting struck while a pedestrian. PIP is not universally available but can be used in place of medical payments coverage

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

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 very important. Normally these coverages are identical to your policy’s liability coverage.

Liability car insurance

Liability insurance provides protection from damages or injuries you inflict on other people or property in an accident. It protects YOU from claims by other people, and 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 might see values of 100/300/100 which stand for a $100,000 limit per person for injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property. Some companies may use one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability coverage pays for claims like repair bills for other people’s vehicles, bail bonds, repair costs for stationary objects, court costs and medical services. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.

Collision insurance

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims like damaging your car on a curb, scraping a guard rail, crashing into a building and rolling your car. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also bump up the deductible to bring the cost down.

Better coverage you can count on

You just read a lot of techniques to reduce 2015 BMW i8 insurance premium rates online. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Drivers may discover the lowest premium rates are with an unexpected company. Regional companies may have significantly lower prices on certain market segments compared to the large companies like Allstate, Geico and Progressive.

Lower-priced insurance can be bought from both online companies in addition to many insurance agents, and you need to comparison shop both in order to have the best chance of saving money. A few companies may not have online rate quotes and most of the time these small, regional companies only sell through independent insurance agents.

Additional articles

• Auto Insurance Facts and Statistics (Insurance Information Insitute)
• How Can I Save Money on Auto Insurance? (Insurance Information Insitute)
• Drunk Driving Statistics (Insurance Information Insitute)
• Safe Vehicles for Teens (iihs.org)
• Reducing Your Risks in a Car Crash Video (iihs.org)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)