How Much Does 2016 BMW i3 Car Insurance Cost?

No one in their right mind gets a kick out of paying for insurance coverage, especially when it costs too dang much.

Due to the large number of insurance companies to choose from, it’s nearly impossible to choose the lowest cost company.

It’s important to get comparison quotes before your next renewal since insurance prices change regularly. If you had the lowest rates for i3 coverage at your last renewal you will most likely find a better rate quote today. Block out anything you think you know about insurance coverage because you’re about to find out the best methods to reduce your cost while improving coverage.

This information will let you in on how to effectively get price quotes and some tricks to saving. If you currently have car insurance, you will most likely be able to lower your premiums substantially using these tips. But car owners need to have an understanding of how insurance companies market on the web because it can help you find the best coverage.

Discount auto insurance rates

Insuring your vehicles can cost a lot, but you may be missing some discounts that you may not even be aware of. Some trigger automatically at the time you complete a quote, but some may not be applied and must be asked about prior to getting the savings.

  • Life Insurance – Not every insurance company offers life insurance, but if they do you may earn lower prices if you buy some life insurance too.
  • No Claim Discounts – Drivers who don’t have accidents pay less as opposed to insureds who have frequent claims or accidents.
  • Driver Training Discounts – Participating in a course that instructs on driving safety could possibly earn you a 5% discount if your company offers it.
  • Anti-theft System – Cars and trucks with anti-theft systems are less likely to be stolen and will save you 10% or more.
  • Smart Student Discounts – Excelling in school can earn a discount of 20% or more. The discount lasts well after school through age 25.
  • Pay Now and Pay Less – If you can afford to pay the entire bill instead of monthly or quarterly installments you can avoid monthly service charges.

Don’t be surprised that some credits don’t apply the the whole policy. Most only apply to specific coverage prices like liability and collision coverage. Even though it appears you can get free auto insurance, it doesn’t quite work that way.

To find insurers that offer many of these discounts, follow this link.

The quickest method to compare rates is to understand most larger insurance companies actually pay money for the chance to provide you with a free rate quote. To get started, all you need to do is provide the companies a bit of rating information including the year, make and model of vehicles, if you lease or own, how much coverage you want, and the ages of drivers. Your details is automatically sent to insurance carriers in your area and you will get price comparisons very quickly.

To compare rates now, click here and enter your zip code.

Learn how to quote insurance for less

Consumers need to have an understanding of the factors that go into determining the level of your policy premiums. When consumers understand what determines premiums, this allows you to make educated decisions that will entitle you to lower rates.

The items below are some of the major factors used by insurance companies to determine your premiums.

  • High coverage deductibles save money – The deductibles tell how much the insured will be required to pay before your insurance pays a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some instances where coverage would apply could be a windshield broken by a bird, fire damage, and having a roll-over accident. The higher the amount the insured has to pay upfront, the lower your rates will be for i3 coverage.
  • Qualify for multi-policy discounts – The majority of insurance companies give a discount to people that buy multiple policies, otherwise known as a multi-policy discount. The amount of the discounts can be ten or even fifteen percent. Even if you’re getting this discount you still need to compare other insurance prices to guarantee you are still saving the most. It’s possible to still find better rates even if you insure with multiple companies
  • Little extras can really add up – Insurance policies have a lot of add-on coverages that can waste your money when buying insurance. Insurance for replacement cost coverage, high-cost glass coverage, and extra life insurance coverage may not be needed and are just wasting money. They may sound like good ideas when talking to your agent, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
  • Where you live is a factor – Living in a small town is a good thing when trying to find low car insurance rates. Lower population means fewer accidents and also fewer theft and vandalism claims. People in densly populated areas have traffic congestion and higher rates of accident claims. The longer drive time can result in more accidents.
  • Poor driving habits leads to higher premiums – Even a single moving violation can boost insurance rates to the point where it’s not affordable. Drivers who don’t get tickets have lower premiums than bad drivers. Drivers who have serious tickets such as hit and run, DWI or reckless driving convictions may be required to prove financial responsibility with their state’s licensing department in order to prevent a license revocation.

Tailor your insurance coverage to you

When buying adequate coverage for your vehicles, there really is no one size fits all plan. Each situation is unique so your insurance needs to address that. These are some specific questions can help discover whether you would benefit from professional advice.

  • Does my car insurance cover rental cars?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • How do I file an SR-22 for a DUI in my state?
  • Am I covered when using my vehicle for business?
  • Am I covered by my spouse’s policy after a separation?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Is a blown tire covered by insurance?
  • Is my custom paint covered by insurance?

If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.

Can you really save $384 a year?

Insurance companies such as Allstate, Geico and Progressive regularly use ads on television and other media. All the companies advertise claims that you’ll save big if you get a free insurance coverage quote and switch your policy. How can each company offer you a better deal? Here is how they do it.

Insurance companies quote the lowest rates for the type of driver that will add to their bottom line. For example, a profitable customer should be between 25 and 40, has a clean driving record, and does not commute to work. Any person that hits that “sweet spot” will probably get cheap rates and therefore will save quite a bit of money when switching.

Potential insureds who don’t meet those criteria will be quoted a more expensive rate which results in the customer not purchasing. Company advertisements say “drivers who switch” not “everybody who quotes” will save that much if they switch. That’s why insurance companies can make claims that they all have the best prices.

Because of these techniques, drivers should get as many free insurance coverage quotes as possible. It’s just too difficult to predict with any certainty which company will give you the biggest savings.

Information about specific coverages

Understanding the coverages of auto insurance helps when choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and reading a policy is terribly boring. These are typical coverages found on the average auto insurance policy.

Comprehensive insurance

Comprehensive insurance pays for damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as vandalism, damage from a tornado or hurricane and hail damage. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP reimburse you for bills for prosthetic devices, surgery and hospital visits. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally the UM/UIM limits do not exceed the liability coverage limits.

Collision insurance

Collision coverage pays for damage to your i3 resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as driving through your garage door, colliding with another moving vehicle, colliding with a tree, damaging your car on a curb and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible to bring the cost down.

Liability coverage

This provides protection from damage that occurs to a person or their property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for things like emergency aid, funeral expenses and repair costs for stationary objects. How much liability coverage do you need? That is a personal decision, but consider buying as large an amount as possible.

Coverage on a shoestring budget

While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are a lot of situations where someone dropped full coverage and learned later that it was a big mistake. Your strategy should be to find the BEST coverage at the best cost while still protecting your assets.

Some insurance providers do not offer internet price quotes regional carriers sell through independent insurance agents. Cheaper car insurance is possible online as well as from independent agents, so compare prices from both in order to have the best price selection to choose from.

Much more information about car insurance is located at the links below

Comments About 2016 BMW i3 Insurance

  1. Gilma Randall

    I’ve bought from Progressive forever. Cheapest rates in San Jose, California.

  2. Melynda Dillon

    I was with GMAC last year but switched to GEICO. I’m in the east part of Atlanta, Georgia. Just waiting to see how claims go.

  3. Jessica Elliott

    I’m from Biloxi, Mississippi. Got car insurance rates from Safeco, Eastwood, Progressive, and Auto-Owners for my BMW and saved just over $90 a year. Left Hartford to switch.

  4. Gabriel King

    I’m in the suburbs of Houston, TX. Don’t remember every company but I ended up saving about $20 each month. I got prices on the web.

  5. Elisa Phelps

    Any 21st Century or Farmers customers near Boise, ID?

  6. Crista Christian

    Cheapest quote for my 2016 BMW i3 was with Farmers. LOL

  7. Lean Parsons

    Lots of good stuff here. From a town just southwest of Indianapolis, Indiana. Got quotes with Western Auto Insurance, American Family, Hartford, and MetLife for my i3 and I think I am saving around $60 each month. Insured with The General before. LOL

  8. Burton Clay

    I think I’m paying too much. Proud to be from Eugene, OR. Got car insurance rates from Progressive, Auto-Owners, Encompass, and Liberty Mutual for my BMW and saved about $270 a year. I’m a pretty low risk driver. It’s easy to compare rates online now.

  9. September Logan

    Do I have to carry car insurance in Ohio?

  10. Ami Oneill

    Anyone know if Progressive does SR-22s?

  11. Daryl Rush

    Here’s what I found out. Located in Colorado Springs, CO. Quoted with Sentry, Erie, State Farm, and American Family for my 2016 BMW i3 and I think I cut my rates about $40 each month. Left Travelers to switch. Not sure if rates are cheaper online or not.

  12. Apolonia Duran

    When do I drop full coverage?