How Much Does 2016 BMW i8 Car Insurance Cost?

Searching for better auto insurance rates? Consumers have lots of choices when looking for the lowest priced BMW i8 insurance. They can either waste time struggling with agents to get rate comparisons or save time using the internet to make rate comparisons.

There is a better way to find auto insurance online so you’re going to learn the best way to get price quotes for a new or used BMW and locate the best price possible from local insurance agents and online providers.

It’s smart to get comparison quotes yearly because auto insurance rates are constantly changing. Despite the fact that you may have had the best rate for i8 coverage six months ago there may be better deals available now. You can find a lot of information about auto insurance online but we’re going to give you some good information on how to save money.

Insurance quotes comparison

All the larger insurance companies such as Allstate, Geico and Progressive give prices for coverage directly from their websites. The process is easy for anyone as you simply enter your personal and coverage information as requested by the quote form. Behind the scenes, their rating system requests your credit score and driving record and generates a price based on many factors.

This makes comparing rates easy, but the time required to go to different websites and fill out multiple forms is a waste of time. But it’s also necessary to do this in order to find the lowest price.

An easier way to get multiple rate quotes uses one simple form that gets price quotes from many companies. It’s a real time-saver, eliminates repetitive work, and makes rate comparisons much more efficient. As soon as you send your information, it gets priced with multiple companies and you can pick your choice of the returned quotes.

If you find a better price you can simply submit the application and purchase coverage. This process can be completed in less than 10 minutes and may result in a nice savings.

In order to find out how much you can save on insurance, simply click here to open in new window and complete the simple form. If you have coverage now, it’s recommended you input the coverage information exactly as shown on your declarations page. Doing this assures you will have a price comparison based on similar coverages.

Insurance premiums are influenced by these factors

When buying car insurance it’s important to understand some of the elements that play a part in calculating car insurance rates. If you understand what determines premiums, this allows you to make educated decisions that will entitle you to big savings.

The items below are a partial list of the pieces used by companies to determine rates.

• Rates can be impacted by your vocation – Did you know your job can affect your rates? Occupations like military generals, social workers and emergency personnel usually pay the highest rates attributed to intense work situations and lots of time spent at work. Conversely, careers like professors, engineers and performers have the lowest average rates for i8 coverage.
• Do you need those extra coverages? – There are a lot of add-on coverages that can add up if you don’t pay attention. Things like rental car reimbursement, towing coverage, and extra life insurance coverage may be costing you every month. These may sound like a good investment at first, but if you have no use for them get rid of them and save.
• Teenagers vs. experienced drivers – Teenage drivers have a tendency to be easily distracted when at the wheel of a vehicle so they pay higher car insurance rates. Older, more experienced drivers are more responsible, statistically cause fewer accidents and get fewer tickets.
• Pay more by driving carelessly – Attentive drivers get better prices than people who have multiple driving citations. Only having one speeding ticket can bump up the cost twenty percent or more. Drivers who have careless violations such as reckless driving or DUI may need to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to legally drive.
• lapses raise premiums – Driving any period of time without insurance is illegal and any future policy may cost more because you let your insurance lapse for non-payment. In addition to paying higher premiums, being ticketed for driving with no insurance may earn you a revoked license or a big fine.
• Safer cars save money – Cars with high safety ratings tend to have lower insurance rates. Safe vehicles reduce injuries and any reduction in injury severity translates into fewer and smaller insurance claims and cheaper rates on your policy. If your BMW earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
• Do you really need to file that car insurance claims? – Auto insurance companies award most affordable rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can definitely plan on increased rates or even have your policy non-renewed. Auto insurance is meant to be used in the event of larger claims.

Cut your insurance rates with discounts

Auto insurance companies don’t always list the complete list of policy discounts very well, so the list below gives a summary of both the well known in addition to some of the lesser obvious discounts that you can inquire about if you buy car insurance online. If you’re not getting every credit available, you are just wasting money.

• Save over 55 – Mature drivers are able to get a small decrease in premiums for i8 coverage.
• Discounts for Government Workers – Having worked for a branch of the government can save as much as 8% for i8 coverage but check with your company.
• Claim-Free Discount – Drivers who stay claim-free can earn big discounts in comparison with bad drivers.
• Student Discount for Driver Training – Reduce the cost of insurance for teen drivers by having them sucessfully take a drivers education course in high school.
• Pay Upfront and Save – By paying your entire bill at once instead of making monthly payments you could save 5% or more.
• Multiple Policy Discount – When you have multiple policies and place coverage with the same company you may earn up to 20% off your total premium.

Please keep in mind that most discount credits are not given the the whole policy. Most cut specific coverage prices like physical damage coverage or medical payments. Even though the math looks like you could get a free insurance policy, it doesn’t quite work that way.

A list of insurance companies and their possible discounts are shown below.

• Progressive includes discounts for online signing, online quote discount, good student, multi-vehicle, continuous coverage, and multi-policy.
• MetLife offers discounts for good driver, multi-policy, good student, accident-free, and claim-free.
• Mercury Insurance offers premium reductions for professional/association, type of vehicle, annual mileage, low natural disaster claims, and multi-car.
• Nationwide policyholders can earn discounts including family plan, anti-theft, accident-free, defensive driving, business or organization, easy pay, and multi-policy.
• Geico has savings for multi-policy, good student, driver training, five-year accident-free, anti-theft, and seat belt use.
• AAA offers discounts including good student, anti-theft, multi-policy, education and occupation, good driver, and multi-car.

It’s a good idea to ask every insurance company to give you their best rates. Some of the discounts discussed earlier may not apply to policyholders in your area.

You are unique and your auto insurance should be too

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs.

For example, these questions can aid in determining if your situation might need an agent’s assistance.

• Can I drive in Mexico and have coverage?
• Can I afford to pay high deductible claims out of pocket?
• Is other people’s property covered if stolen from my vehicle?
• Do I pay less if my vehicle is kept in my garage?
• What is UM/UIM insurance?
• What can I do if my company denied a claim?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form. It’s fast, doesn’t cost anything and can provide invaluable advice.

The coverage is in the details

Learning about specific coverages of your policy aids in choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Coverage for medical expenses

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for things like doctor visits, nursing services, surgery, prosthetic devices and pain medications. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Liability coverages

This can cover damages or injuries you inflict on people or other property in an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for claims like structural damage, medical expenses, legal defense fees and loss of income. How much liability should you purchase? That is your choice, but consider buying as large an amount as possible.

Coverage for uninsured or underinsured drivers

This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family as well as damage to your BMW i8.

Because many people have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision insurance

Collision insurance will pay to fix damage to your i8 caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as scraping a guard rail, crashing into a ditch and backing into a parked car. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Comprehensive auto insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hail damage, damage from a tornado or hurricane and a broken windshield. The most 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.

The bottom line

People switch companies for a variety of reasons including poor customer service, high prices, not issuing a premium refund and even delays in responding to claim requests. It doesn’t matter why you want to switch switching auto insurance companies can be easy and end up saving you some money.

In this article, we covered a lot of tips how to save on 2016 BMW i8 insurance. It’s most important to understand that the more companies you get rates for, the higher your chance of finding low cost car insurance. You may even find the lowest prices are with a smaller regional carrier.

Budget-friendly auto insurance is attainable both online as well as from insurance agents, so you need to shop car insurance with both to have the best rate selection. There are still a few companies who may not provide online price quotes and most of the time these smaller providers only sell through local independent agencies.

For more information, feel free to visit the following helpful articles:

• Booster Seat Ratings (iihs.org)
• What is Full Coverage? (Allstate)
• How Much Auto Coverage do I Need? (Insurance Information Insitute)
• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• Parking Tips to Reduce Door Dings (State Farm)
• Medical Payments Coverage (Liberty Mutual)