2016 BMW X1 Insurance Cost

Looking for cheaper insurance coverage rates for your BMW X1? Consumers who are new to comparing insurance rates online could find purchasing the cheapest insurance coverage is not as easy as it seems.

It’s a great practice to shop coverage around yearly because prices are rarely the same from one policy term to another. If you had the best rates for X1 coverage on your last policy a different company probably has better rate quotes today. Ignore everything you know about insurance coverage because I’m going to let you in on the secrets to how to quote online to get good coverage at a lower rate.

If you have car insurance now, you should be able to reduce your rates substantially using this information. This article will help educate you on how to get online quotes. Although consumers do need to understand how the larger insurance companies compete online and apply this information to your search.

How to get free insurance quotes online

When comparison shopping, there are several ways to compare quotes from lots of insurance companies. The recommended way to find affordable BMW X1 insurance rates consists of obtaining rate quotes online. This is quite simple and can be completed by using one of the methods below.

• One of the best ways to get quotes is an all-inclusive rate comparison like this one (opens in new window). This form eliminates the need for separate quotation requests for every prospective company. A single, simple form will return quotes from multiple companies. It’s the fastest way to compare.
• A slightly less efficient method to compare prices is to take the time to go to the website for each individual company to request a price quote. For example, we’ll pretend you want to compare USAA, Farmers and Allstate. You would have to navigate to each company’s site and type in your information over and over, which is why the first method is quicker. To view a list of companies in your area, click here.

It’s up to you how you get prices quotes, just do your best to use equivalent coverage limits and deductibles for each comparison quote. If you enter different data you can’t possibly get a fair rate comparison. Just a small difference in insurance coverages may result in a large different in cost. And when quoting insurance, remember that comparing more rates from different companies will enable you to find more affordable insurance.

Don’t overlook these insurance discounts

Not too many consumers would say insurance is affordable, but you might find some hidden discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time of quoting, but some may not be applied and must be inquired about before being credited.

• One Accident Forgiven – Not a discount per se, but some insurance companies will forgive one accident without raising rates so long as you are claim-free for a specific time period.
• Government Employees – Employees or retirees of the government could cut as much as 10% off for X1 coverage with certain companies.
• Early Renewal Discounts – Some larger companies give discounts for switching to them prior to your current policy expiring. The savings is around 10%.
• Safety Course Discount – Completing a course that instructs on driving safety can save you 5% or more depending on where you live.
• Seat Belt Usage – Drivers who require all vehicle occupants to buckle their seat belts could save 15% on the medical payments or PIP coverage costs.
• Discount for Good Grades – This discount can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up to age 25.
• Discount for Multiple Policies – When you combine your home and auto insurance and insure them both with the same insurance company you could get a discount of at least 10 to 15 percent or more.

As a disclaimer on discounts, some of the credits will not apply to the entire policy premium. Most only reduce the cost of specific coverages such as comp or med pay. So even though they make it sound like having all the discounts means you get insurance for free, you won’t be that lucky.

Companies that may offer policyholders some of the above discounts include:

• 21st Century
• Progressive
• State Farm
• Nationwide
• Esurance
• The Hartford

When getting free insurance coverage quotes, it’s a good idea to every insurance company which credits you are entitled to. Depending on the company, some discounts might not be offered on policies in your area. To choose providers that offer some of these discounts, follow this link.

Components of your BMW X1 insurance costs

A large part of saving on auto insurance is knowing some of the things that come into play when calculating the rates you pay for auto insurance. When consumers understand what positively or negatively impacts your premiums, this helps enable you to make changes that may reward you with much lower annual insurance costs.

The following are some of the factors that factor into your rates.

• GPS tracking and theft deterrents reduce premiums – Purchasing a vehicle that has an advanced theft prevention system can earn a premium discount. Theft deterrent systems such as OnStar, LoJack tracking, and tamper alarms all hinder vehicle theft.
• Cautious drivers pay less – Only having one citation could increase your next policy renewal to the point where it’s not affordable. Attentive drivers tend to pay less for car insurance than people who have multiple driving citations. Drivers with license-revoking citations such as DWI, reckless driving or hit and run convictions might be required by their state to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive a vehicle.
• Cheaper rates with high comp and collision deductibles – Insurance for physical damage, also called ‘full coverage’, helps pay for damage to your vehicle. Some examples of claims that would be covered could be a broken windshield, damage caused by hail, and windstorm damage. The deductibles you choose state the amount of money you are willing to pay in the event of a claim. The larger the amount the insured has to pay upfront, the less your auto insurance will be for X1 coverage.
• lapses raise rates – Going without insurance is a guaranteed way to increase your renewal premiums. Not only will you pay more, getting caught without coverage will get you a fine, jail time, or a revoked license.
• Premiums are lower the older you get – Beginning drivers are statistically proven to be inattentive in a vehicle so they pay higher auto insurance rates. More experienced drivers have been proven to be more responsible, statistically cause fewer accidents , and usually have better credit.
• Multiple policies with one company can save – The majority of insurance companies provide a discount for people that buy multiple policies such as combining an auto and homeowners policy. The amount of the discounts can be as much as ten percent or more Even if you qualify for this discount already, consumers should still comparison shop to ensure the best deal.
• More people means more accidents – Having an address in a rural area is a good thing when talking about auto insurance. Fewer people means reduced accidents in addition to lower liability claims People in densly populated areas regularly have more traffic problems and more severe claims. Longer commute distances means a statistically higher chance of an accident.

When to get professional advice

When it comes to choosing adequate coverage, there really is not a “best” method to buy coverage. Every insured’s situation is different.

For instance, these questions may help you determine if you might need professional guidance.

• Can I still get insurance after a DUI?
• How much liability insurance is required?
• Am I covered by my spouse’s policy after a separation?
• How can I find cheaper teen driver insurance?
• Am I getting all the discounts available?
• Are rock chip repairs covered?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form.

Educate yourself about auto insurance coverages

Understanding the coverages of a auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement.

Comprehensive protection

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as fire damage, hitting a bird, falling objects and damage from getting keyed. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Liability car insurance

This coverage protects you from damage or injury you incur to other people or property that is your fault. It protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.

Liability coverage protects against things like court costs, repair costs for stationary objects and bail bonds. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Medical expense coverage

Med pay and PIP coverage reimburse you for immediate expenses like doctor visits, hospital visits, prosthetic devices, EMT expenses and surgery. The coverages can be used in conjunction with a health insurance plan or if you do not have health coverage. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your BMW X1.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Auto collision coverage

This coverage will pay to fix damage to your X1 resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things like sideswiping another vehicle, driving through your garage door, scraping a guard rail and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible to save money on collision insurance.

Cheaper insurance is a realistic goal

Consumers leave their current company for a number of reasons such as being labeled a high risk driver, policy non-renewal, delays in responding to claim requests and even lack of trust in their agent. Regardless of your reason for switching companies, finding the right insurance coverage provider is less work than it seems.

While you’re price shopping online, don’t be tempted to sacrifice coverage to reduce premiums. Too many times, drivers have reduced full coverage and found out when filing a claim that they should have had better coverage. The proper strategy is to buy a smart amount of coverage for the lowest cost, but do not sacrifice coverage to save money.

In this article, we covered a lot of tips how to get a better price on 2016 BMW X1 insurance. The key thing to remember is the more you quote insurance coverage, the better chance you’ll have of finding cheaper insurance coverage. Consumers may even find the lowest priced insurance coverage comes from some of the smallest insurance companies.

To learn more, take a look at the resources below:

• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Preventing Carjacking and Theft (Insurance Information Insitute)
• Choosing a Car for Your Teen (State Farm)
• Auto Theft Statistics (Insurance Information Insitute)
• Vehicle Insurance (Wikipedia)
• How to Avoid Common Accidents (State Farm)