2018 BMW 3 Series Insurance Cost

Are you sick and tired of paying out the nose to buy insurance coverage? Your situation is no different than many other drivers.

Since vehicle owners have many insurance coverage companies to choose from, it can be challenging to choose a more affordable insurer.

You should take the time to get comparison quotes every six months because insurance coverage prices are adjusted regularly by insurance companies. If you had the lowest rates for 3 Series insurance on your last policy a different company probably has better premium rates today. Block out anything you think you know about insurance coverage because you’re about to find out the quickest way to properly buy coverages while reducing your premium.

Shopping for affordable coverage is easy if you know what you’re doing. In a nutshell, every vehicle owner who is required by state law to have insurance will most likely be able to cut their insurance bill. Nevertheless, consumers do need to know how companies price online insurance and take advantage of how the system works.

How to buy car insurance

Comparing car insurance rates can be a daunting task if you don’t understand the easiest way. You could waste time discussing policy coverages with local insurance agents in your area, or you could save time and use online quotes to get the quickest rates.

Many companies are enrolled in a marketplace that allows shoppers to enter their coverage request one time, and each company can give them a price based on that information. This prevents consumers from doing quotation requests for each company you want a rate for. To compare pricing click to open in new window.

The only downside to using this type of form is buyers cannot specifically choose the insurers you want pricing from. So if you want to choose from a list of companies to compare rates, we put together a list of car insurance companies in your area. Click here to view list.

You can use whichever method you prefer to find lower rates, just double check that you are using apples-to-apples coverages on every quote. If you are comparing different limits and deductibles on each one it will be impossible to make a fair rate comparison. Slightly different coverage limits could mean much higher rates. Keep in mind that getting more free quotes helps you find the best offered rates.

The auto insurance bait and switch

Companies like Allstate, Geico and Progressive continually stream ads on television and other media. All the ads advertise the message that you’ll save big if you move your auto insurance policy to them. How is it plausible that every one can give you a lower rate? It’s all in the words they use.

All companies have a preferred profile for a prospective insured that will not have excessive claims. For instance, a profitable insured could be between 25 and 40, has a clear driving record, and drives a lower-performance vehicle. A customer who matches those parameters gets the lowest premium rates and have a good chance to save a lot if they switch.

Drivers who do not meet the ideal profile will have to pay a higher premium and this results in the driver buying from a lower-cost company. If you pay close attention to the ads, they say “people that switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way companies can truthfully make it sound like they have such great rates.

This really emphasizes why drivers must compare price quotes frequently. It’s not possible to predict with any certainty which company will fit your personal profile best.

Informed decisions result in lower insurance costs

One of the most helpful ways to save on insurance is to to have a grasp of the factors that are used to determine the level of your policy premiums. If you have a feel for what influences your rates, this allows you to make educated decisions that may reward you with lower insurance prices. Lots of factors are used when you get your auto insurance bill. Some are obvious such as traffic violations, but others are more transparent like your vehicle usage or your vehicle rating.

Listed below are a partial list of the pieces used by your company to calculate premiums.

  • Gender impacts prices – The statistics show that women are safer drivers than men. That doesn’t necessarily mean that males are worse at driving than females. Men and women are responsible for fender benders at a similar rate, but the male of the species get into accidents with more damage. Men also statistically get cited for more serious violations such as DWI and reckless driving. Young males have the highest risk to insure and therefore have the most expensive insurance rates.
  • Do you know you’re credit score? – An insured’s credit history can be an important factor in calculating your insurance rates. So if your credit could use some work, you could pay less to insure your 2018 BMW 3 Series by spending a little time repairing your credit. Drivers who have excellent credit tend to be better drivers and file fewer claims than drivers with poor credit scores.
  • Do you know your coverage deductibles? – Comprehensive and collision coverage deductibles state the amount of money you are required to spend out-of-pocket if you file a covered claim. Insurance for physical damage, also known as collision and other-than-collision, protects your car from damage. Examples of some claims that would be covered are collision with another vehicle, fire damage, or theft of your vehicle. The more expense you are required to pay out-of-pocket, the better rate you will receive for 3 Series insurance.
  • Lower insurance rates with continuous insurance coverage – Driving your car without having proper coverage can get your license suspended and insurance companies will penalize you for letting your coverage lapse. Not only will rates go up, not being able to provide proof of insurance may earn you a fine, jail time, or a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with your state DMV.
  • Do you really need the extra coverages? – There are many optional add-on coverages that you can buy on your 3 Series policy. Coverages like rental car reimbursement, death and dismemberment, and Farm Bureau memberships could be just wasting money. They may sound like good ideas when buying your policy, but your needs may have changed so think about removing them and cutting costs.
  • Bundle policies to earn discounts – Lots of insurers apply better rates to customers who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, drivers will still want to comparison shop to ensure the best deal.There is a good possibility that you can find a better deal by splitting coverages up.
  • Lower rates come with age – Drivers with little experience are statistically proven to be careless and easily distracted when behind the wheel and because of this, their insurance rates are much higher. More mature drivers are viewed as being more responsible, cost insurance companies less in claims and get fewer tickets.

Find hidden discounts to get affordable insurance quotes

Some insurance providers do not list all disounts in an easy-to-find place, so the list below contains a few of the more well known and also the more inconspicuous credits available to bring down your rates.

  • Student in College – Youth drivers who live away from home at college and leave their car at home may qualify for this discount.
  • Good Student – Performing well in school can be rewarded with saving of up to 25%. This discount can apply until age 25.
  • Pay Now and Pay Less – By paying your policy upfront instead of paying each month you may have a lower total premium amount.
  • Theft Deterent System – Cars, trucks, and SUVs with anti-theft systems can help prevent theft and will qualify for a discount on a auto insurance quote.
  • Policy Bundle Discount – If you insure your home and vehicles and insure them both with the same insurance company you could earn a discount of at least 10 to 15 percent or more.
  • Early Switch Discount – Select larger companies give a discount for signing up prior to your current policy expiring. The savings is around 10%.

Discounts save money, but please remember that some credits don’t apply the the whole policy. Some only apply to individual premiums such as liability and collision coverage. So even though you would think adding up those discounts means a free policy, you’re out of luck.

Large insurance companies and their offered discounts include:

  • State Farm offers discounts for anti-theft, defensive driving training, driver’s education, student away at school, passive restraint, and good student.
  • American Family policyholders can earn discounts including TimeAway discount, air bags, early bird, good student, Steer into Savings, bundled insurance, and good driver.
  • AAA may include discounts for multi-car, education and occupation, multi-policy, good driver, good student, anti-theft, and AAA membership discount.
  • Geico has savings for defensive driver, military active duty, multi-policy, emergency military deployment, multi-vehicle, five-year accident-free, and anti-theft.
  • Mercury Insurance may have discounts that include low natural disaster claims, age of vehicle, multi-car, accident-free, ease of repair, and type of vehicle.
  • Farmers Insurance offers premium reductions for teen driver, alternative fuel, pay in full, youthful driver, multi-car, homeowner, and business and professional.
  • Progressive discounts include online quote discount, online signing, multi-policy, multi-vehicle, and continuous coverage.

When quoting, ask all companies you are considering which discounts you qualify for. A few discounts may not apply in your area. If you would like to choose from a list of insurance companies who offer cheap insurance quotes, click here to view.

Tailor your insurance coverage coverage to you

When it comes to choosing adequate coverage, there really is not a “best” method to buy coverage. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover whether your personal situation might need an agent’s assistance.

  • How do I insure my teen driver?
  • Is my custom paint covered by insurance?
  • I don’t drive much so do I pay less?
  • Do I need special endorsements for business use of my vehicle?
  • Do I need motorclub coverage?
  • How do I file an SR-22 for a DUI in my state?
  • Is my state a no-fault state?

If you’re not sure about those questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

Auto insurance specifics

Knowing the specifics of auto insurance can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Shown next are typical coverage types found on most auto insurance policies.

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

Comprehensive insurance covers things like damage from flooding, a tree branch falling on your vehicle, fire damage and rock chips in glass. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Uninsured or underinsured coverage – This coverage gives you protection 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 3 Series.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally the UM/UIM limits are identical to your policy’s liability coverage.

Liability car insurance – Liability insurance will cover damages or injuries you inflict on other’s property or people in an accident. It protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things like medical expenses, legal defense fees and medical services. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible.

Medical expense coverage – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like surgery, hospital visits, dental work and nursing services. They are used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

Collision – Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things like damaging your car on a curb, colliding with another moving vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to bring the cost down.

Save for a rainy day

Throughout this article, we presented quite a bit of information on how to reduce 2018 BMW 3 Series insurance rates online. The key thing to remember is the more you quote auto insurance, the better your comparison will be. Consumers could even find that the lowest priced insurance coverage comes from some of the smallest insurance companies. These companies can often provide lower car insurance rates in certain areas as compared to the big name companies such as Progressive and Geico.

More affordable insurance coverage is attainable on the web and from local agencies, so you should be comparing quotes from both to have the best rate selection. Some companies don’t offer online price quotes and most of the time these small, regional companies prefer to sell through independent agents.

Additional learning opportunities

Comments About 2018 BMW 3 Series Insurance

  1. Joaquin Webster

    It’s all a rip off. Proud to be from Louisville, Kentucky. I don’t recall every quote but I ended up saving about $30 each month. Left The General to switch. I get multi-vehicle and multi-policy discounts. LOL

  2. Jerica Stout

    Got a quote with State Farm for my 3 Series and saved about $560 a year. Have an at-fault accident tho.

  3. Merrill Page

    Here’s my info. Located in Cedar Rapids, Iowa. I don’t recall every quote but I ended up saving about $30 each month. Thankfully I’m not a high risk driver.

  4. Rickie Walters

    Lots of good stuff here. Proud to be from Omaha, NE. Got free quotes online for a 2018 BMW 3 Series. Ended up at about $530 savings annually. Went with 21st Century. Not sure about claim service.

  5. Roberta Kramer

    Checking in from Portland, Maine. Quoted with Amica, Mercury, and some smaller one I can’t remember the name of for my 2018 BMW 3 Series and saved just over $480 a year. Still almost need a second mortgage.

  6. Bulah Stein

    Went with Progressive for my BMW and saved about $350 a year. Was with Encompass.