2017 BMW i8 Insurance Rates

Did a good deal turn out to be overpriced insurance? Trust us, many consumers are in the same pinch. Numerous insurers battle for your business, and because of this it can be hard to compare car insurance companies and get the definite best rates possible.

If you have insurance now or are shopping for new coverage, you can use this information to cut your premiums and possibly find even better coverage. Finding the best rates is easy if you know what you’re doing. Consumers only need an understanding of how to shop their coverage around on the web.

How to lower your insurance cost

Getting a cheaper price on 2017 BMW i8 insurance is pretty simple and can save money. The only thing you need to do is invest a little time comparing price quotes online from several insurance companies. This can be done using a couple different methods.

1. The first (and easiest) way to find low rates would be an industry-wide quote request form click here to open form in new window. This method saves time by eliminating boring form submissions for each price estimate. One form submission gets coverage cost estimates instantly.
2. A slightly less efficient method to compare prices requires you to visit each company’s website and complete a new quote form. For instance, let’s say you want to view quotes from Auto-Owners, Geico and Liberty Mutual. To do that, you would have to take the time to go to each site to enter your coverage information, which is why the first method is quicker. For a handy list of car insurance company links in your area, click here.

Which method you use is up to you, but make sure you are using apples-to-apples coverage limits on every quote you get. If you enter different deductibles you will not be able to find the best deal for your BMW i8.

Find discounts on insurance coverage

Companies that sell car insurance do not advertise every possible discount in an easy-to-find place, so we researched some of the best known as well as some of the hidden discounts that may be available.

• Savings for New Vehicles – Buying a new car instead of a used car may earn a small discount compared to insuring an older model.
• Air Bags and Passive Restraints – Cars that have air bags and/or automatic seat belt systems may get savings of up to 25% or more.
• Senior Discount – Drivers that qualify as senior citizens could receive better insurance coverage rates on i8 insurance.
• Good Students Pay Less – Performing well in school can earn a discount of 20% or more. The discount lasts until age 25.
• Resident Student – who are enrolled in higher education away from home and don’t have a car could get you a discount.
• Responsible Driver Discounts – Drivers without accidents could pay up to 40% less on i8 insurance than less cautious drivers.
• Claim Free – Drivers who don’t have accidents have much lower rates as opposed to frequent claim filers.

Please keep in mind that most credits do not apply to all coverage premiums. Most only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like you could get a free insurance coverage policy, companies don’t profit that way.

If you would like to see a list of insurance coverage companies that can offer you the previously mentioned discounts, click here to view.

Tailor your car insurance coverage to you

When buying adequate coverage, there is no best way to insure your cars. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions can aid in determining whether you would benefit from professional advice.

• What vehicles should carry emergency assistance coverage?
• I have good health insurance, so how much medical payments coverage do I need?
• Can I get a multi-policy discount?
• How much liability insurance is required?
• Should I sign the liability waiver when renting a car?
• If my pet gets injured in an accident are they covered?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.

Learn how to find auto insurance for less

Multiple criteria are taken into consideration when pricing auto insurance. Most are fairly basic like an MVR report, but some are more obscure like your continuous coverage and annual miles driven.Consumers need to have an understanding of some of the elements that go into determining your auto insurance rates. If you have some idea of what determines premiums, this allows you to make good choices that can earn you lower premium levels.

• Optional features can affect prices – Owning a car that has a built-in theft deterrent system can help lower your rates. Advanced theft deterrents like vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent your car from being stolen.
• More stress means more cost – Did you know that where you work can have an impact on rates? Jobs like fire fighters, social workers and accountants generally pay the highest average rates attributed to job stress and lengthy work days. Conversely, professions such as scientists, historians and homemakers get better rates on i8 insurance.
• Protect yourself with liability coverage – Liability coverage is the protection when you are determined to be liable for personal injury or accident damage. It provides you with a defense in court which can cost a lot. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
• How credit history affects auto insurance rates – Credit history is likely to be a major factor in determining what you pay. If your credit score could use some work, you could save money insuring your 2017 BMW i8 by repairing your credit. Insureds that have high credit ratings tend to be more responsible and file fewer claims as compared to drivers with lower credit scores.
• Traffic violations increase costs – How you drive has a big impact on rates. Even one citation can increase the cost of insurance to the point where it’s not affordable. Attentive drivers have lower premiums than people who have multiple driving citations. Drivers who have gotten multiple citations like DWI, reckless driving or hit and run convictions might be required by their state to complete a SR-22 with the DMV in their state in order to keep their license.
• Better auto insurance rates for continuous auto insurance coverage – Having a gap between insurance policy dates is a sure-fire way to trigger a rate increase. Not only will you pay higher rates, the inability to provide proof of insurance may earn you a license revocation or jail time. You could then be forced to prove you have insurance by filing a SR-22 with your state DMV.
• Add-on coverages are wasting money – There are a ton of additional extra coverages you can purchase but may not be useful. Coverages like personal injury protection, death and dismemberment, and extra life insurance coverage may not be needed and are just wasting money. These coverages may sound good when buying your policy, but if you have no use for them remove them and pocket the money.

Insurance advertising tricks

Consumers can’t ignore all the ads that promise big savings by State Farm, Allstate and Geico. All the ads tend to make the same promise of big savings after switching your insurance coverage to their company.

How is it plausible that every one can charge lower premium rates? It’s all in the wording.

Many companies give the best rates for the type of driver that will generate a profit. An example of a desirable insured could possibly be married and over the age of 30, has had continuous coverage, and insures a new vehicle. Anyone that matches those criteria will get low prices as well as save money with a new company.

Drivers who don’t meet those criteria must pay a more expensive rate and this can result in the prospect going elsewhere. The trick companies use is to say “customers that switch” but not “everyone who gets a quote” save that much. That’s why insurance companies can confidently state the savings.

Because each company has a different risk profile, it’s extremely important to compare rate quotes every year. Because without a comparison, you cannot know with any certainty which company will have the best premium rates.

The coverage is in the details

Having a good grasp of car insurance aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Listed below are typical coverage types offered by car insurance companies.

Collision – Collision insurance covers damage to your i8 resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as hitting a mailbox, hitting a parking meter, colliding with another moving vehicle, rolling your car and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible to save money on collision insurance.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for short-term medical expenses such as surgery, pain medications, doctor visits, hospital visits and nursing services. They are used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Comprehensive coverage – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as damage from flooding, fire damage, hitting a bird and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Liability car insurance – Liability insurance can cover damage that occurs to people or other property in an accident. It protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers things like funeral expenses, court costs, legal defense fees, structural damage and loss of income. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as damage to your BMW i8.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently the UM/UIM limits are similar to your liability insurance amounts.

One last thing about your coverage

You just learned many tips how you can compare 2017 BMW i8 insurance car insurance rates online. The key concept to understand is the more companies you get premium rates for, the higher the chance of saving money. You may even find the most savings is with a smaller regional carrier. These companies can often insure niche markets at a lower cost than the large multi-state companies such as Allstate or State Farm.

Cheaper auto insurance can be bought from both online companies and from local insurance agents, so you should compare both in order to have the best price selection to choose from. A few companies may not offer rates over the internet and these smaller providers only sell through independent agents.

When searching for cheap auto insurance quotes, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are too many instances where an insured dropped collision coverage to discover at claim time that it was a big error on their part. The proper strategy is to buy a smart amount of coverage at a price you can afford, but do not sacrifice coverage to save money.

More detailed auto insurance information is located by following these links:

• What to do at the Scene of an Accident (Insurance Information Insitute)
• Shopping for a Safe Car (Insurance Information Insitute)
• What Does No-Fault Insurance Cover? (Allstate)
• Reducing Your Risks in a Car Crash Video (iihs.org)
• Vehicle Safety Ratings (iihs.org)