Cheaper 2017 BMW 3 Series Insurance Rates

Searching for budget-priced auto insurance on the web can be problematic for vehicle owners that are relatively new to online price comparisons. With more and more insurers to choose from, how can drivers effectively compare every company to locate lower auto insurance premiums?

If you have car insurance now, you will most likely be able to cut costs considerably using this strategy. Locating more affordable coverage is simple if you know the tricks. Although vehicle owners do need to understand the way insurance companies market insurance on the web.

Use discounts to get cheaper insurance quotes

Buying insurance is not cheap, but you may qualify for discounts that you may not know about. Certain discounts will be applied at the time you complete a quote, but some need to be requested specifically in order for you to get them. If you aren’t receiving every discount you deserve, you are just wasting money.

• Paperless Signup – A few larger online companies will discount your bill up to fifty bucks for buying your policy on the internet.
• Early Switch Discount – A few insurance companies allow discounts for switching to them early. This discount can save up to 10%.
• Resident Student – College-age children who are enrolled in higher education away from home and do not take a car to college can be insured at a reduced rate.
• Anti-lock Brakes – Anti-lock brake equipped vehicles can reduce accidents and qualify for as much as a 10% discount.
• Responsible Driver Discount – Insureds who avoid accidents may receive a discount up to 45% on 3 Series insurance compared to accident prone drivers.

Policy discounts save money, but most credits do not apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like you can get free auto insurance, it’s just not the way it works.

The best insurance companies and the discounts they provide include:

• State Farm has discounts for good driver, Steer Clear safe driver discount, accident-free, good student, multiple autos, and driver’s education.
• Geico may have discounts that include daytime running lights, military active duty, driver training, anti-lock brakes, good student, and emergency military deployment.
• Allstate may include discounts for good payer, safe driver, premier discount, anti-lock brakes, auto/life discount, and FullPay discount.
• SAFECO offers premium reductions for bundle discounts, anti-lock brakes, safe driver, homeowner, and drive less.
• Farm Bureau discounts include driver training, 55 and retired, safe driver, good student, and renewal discount.
• Progressive may offer discounts for continuous coverage, online quote discount, multi-vehicle, good student, homeowner, and online signing.
• AAA offers discounts for education and occupation, anti-theft, multi-policy, pay-in-full, good driver, good student, and AAA membership discount.

Double check with each company which discounts can lower your rates. All car insurance discounts may not apply to policies in every state.

Low cost insurance price quotes

To find cheap car insurance quotes, there are several ways to compare rate quotes from different insurance companies. The quickest method to find affordable BMW 3 Series insurance rates involves getting comparison quotes online. This can be done in several different ways.

• One of the simplest ways to get quotes for comparison is to use a rate comparison form like this one (opens in new window). This type of form prevents you from having to do boring form submissions to each individual insurance company. Completing one form compares rates from many national carriers. It’s definitely the quickest method.
• A harder way to find better pricing consists of going to the website for every company you want to comare and go through the quote process again. For examples sake, we’ll pretend you want rates from Allstate, Farmers and Liberty Mutual. To get rate quotes you would need to navigate to each company’s site and type in your information over and over, which is not fast way to get rate quotes.

  For a handy list of car insurance company links in your area, click here.

• The least recommended way to compare price quotes is to spend time driving to and from local insurance agencies. Shopping for insurance online has made agencies unnecessary unless you require the professional abilities that only an agent can give. It is possible to obtain prices from the web and still use a local agent.

You can use whichever method you prefer to find lower rates, just ensure you are comparing the same coverage limits for each comparison quote. If you compare different limits and deductibles on each one it’s impossible to determine which rate is truly the best. Even a minor difference in insurance coverages or limits may result in a large different in cost. And when comparison shopping, getting more free quotes provides better odds of finding better pricing.

Insurance cost influencing factors

Lots of factors are part of the calculation when you get a price on insurance. Some of the criteria are obvious like an MVR report, but some are less apparent like where you live or how safe your car is.

Shown below are some of the most rate-impacting factors utilized by car insurance companies to help set your prices.

• Reserve policy claims for larger damages – If you file claims often, you can expect either higher rates or even cancellation. Companies award better rates to policyholders that do not abuse their auto insurance. Auto insurance is meant to be used in the event of the large, substantial claims.
• Where do you drive? – The higher the miles on your BMW in a year’s time the higher your rate. A lot of companies apply a rate determined by how the vehicle is used. Vehicles not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Having the wrong rating on your 3 Series can result in significantly higher rates. It’s always a good idea to double check that your policy is showing the correct usage for each vehicle.
• GPS tracking and theft deterrents lower premiums – Choosing to buy a car that has a built-in theft deterrent system can get you a discount on your auto insurance. Systems that thwart theives such as OnStar, LoJack tracking, and tamper alarms all help prevent auto theft and help lower rates.
• How’s your driving record? – Even a single speeding ticket may cause rates to rise by as much as thirty percent. Drivers who don’t get tickets have lower premiums compared to drivers with tickets. Drivers unfortunate enough to have flagrant violations like reckless driving, hit and run or driving under the influence may find that they have to to file a SR-22 with their state’s department of motor vehicles in order to keep their license.
• Higher prices for tough employers – Did you know your job can affect your rates? Jobs like military personnel, business owners and miners are shown to have higher average rates attributed to stressful work requirements and lots of time spent at work. Other careers such as farmers, engineers and performers generally pay rates lower than average on 3 Series insurance.
• Continuous coverage lowers prices – Driving with no insurance can get your license suspended and companies may charge more for letting your insurance coverage expire. In addition to paying higher premiums, being ticketed for driving with no insurance could result in a steep fine or even jail time.
• High deductibles lower premiums – Comp and collision deductibles represent how much money you are willing to pay if you file a covered claim. Protection for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your car. Some examples of claims that would be covered are colliding with a stationary object, animal collisions, and damage caused by road hazards. The more damage repair cost you have to pay, the less your company will charge you for insurance on 3 Series insurance.
• Urban residents pay more – Having an address in less populated areas of the country can save you money when buying auto insurance. Fewer drivers translates into fewer accidents in addition to lower liability claims Drivers in populated areas have more traffic problems and a longer drive to work. More time commuting means a statistically higher chance of an accident.

Tailor your auto insurance coverage to you

When it comes to buying coverage, there is no “perfect” insurance plan. Your needs are not the same as everyone else’s.

For instance, these questions could help you determine whether your personal situation may require specific advice.

• When would I need rental car insurance?
• Am I covered if my car is in a flood?
• How much liability coverage do I need in my state?
• If I drive on a suspended license am I covered?
• How do I file an SR-22 for a DUI in my state?
• Do I need PIP (personal injury protection) coverage in my state?
• Can my teen driver be rated on a liability-only vehicle?

If you can’t answer these questions, you might consider talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Truth in insurance advertising

Insurance companies such as State Farm and Allstate constantly bombard you with ads on TV and radio. All the companies advertise claims that drivers can save some big amount just by moving your policy. How does every company cost less than your current company? Here is how they do it.

Different companies quote their cheapest rates for the right customer that is profitable for them. One example of a profitable customer might have to be over age 30, has a low-risk occupation, and drives a lower-performance vehicle. A propective insured who fits those characteristics is entitled to the best price and have a good chance to save when switching.

People who don’t qualify for the ideal profile will have to pay higher premiums which leads to business going elsewhere. The trick is to say “customers that switch” not “everybody who quotes” save that kind of money. That is how companies can make the claims of big savings. This illustrates why drivers should do a rate comparison at every renewal. It’s impossible to know with any certainty which company will have better premium rates than you’re paying now.

Specific coverages for a BMW 3 Series

Understanding the coverages of a auto insurance policy helps when choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Collision – This coverage will pay to fix damage to your 3 Series from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers claims like crashing into a ditch, crashing into a building, damaging your car on a curb and driving through your garage door. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Comprehensive coverage – This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as theft, a broken windshield and hitting a bird. The most you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2017 BMW 3 Series.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Auto liability insurance – This will cover damage that occurs to people or other property. This coverage protects you from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability coverage pays for claims such as attorney fees, bail bonds, repair costs for stationary objects, funeral expenses and pain and suffering. How much liability should you purchase? That is up to you, but you should buy higher limits if possible.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for funeral costs, ambulance fees, dental work, EMT expenses and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and will also cover getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

More comparisons equals lower rates

Drivers switch companies for a variety of reasons including unfair underwriting practices, an unsatisfactory settlement offer, high prices and even policy cancellation. It doesn’t matter what your reason, choosing a new company is pretty easy and you might even save some money in the process.

Budget-friendly insurance coverage can be bought from both online companies and with local insurance agents, so you need to shop car insurance with both so you have a total pricing picture. Some insurance providers do not provide price quotes online and many times these smaller providers prefer to sell through local independent agents.

While you’re price shopping online, don’t be tempted to reduce coverage to reduce premium. There have been many cases where an insured cut liability limits or collision coverage only to discover later they didn’t purchase enough coverage. The ultimate goal is to buy the best coverage you can find at the lowest possible cost and still be able to protect your assets.

For more information, feel free to visit the articles below:

• How Much Auto Coverage do I Need? (Insurance Information Insitute)
• Event Data Recorders FAQ (iihs.org)
• Five Tips to Save on Auto Insurance (Insurance Information Insitute)
• A Tree Fell on Your Car: Now What? (Allstate)