Did you fall for a flashy sales pitch and buy an overpriced insurance coverage policy? Trust us, you’re not alone.
Drivers have multiple insurers to pick from, and although it’s a good thing to have multiple companies, so many choices can make it hard to compare rates.
You should make it a habit to price shop coverage periodically because prices are adjusted regularly by insurance companies. Just because you had the best deal for 7 Series coverage a year ago there is a good chance you can find better rates now. Don’t believe everything you read about insurance coverage on the internet, so we’re going to give you some great ideas on how to stop overpaying for insurance.
Effectively comparing insurance prices can take time and effort if you don’t know the most efficient way. You can waste a lot of time talking about coverages with insurance agencies in your area, or you can utilize the internet to get pricing more quickly.
Most of the best insurance companies enroll in a system that allows shoppers to complete one form, and each participating company returns a competitive quote. This eliminates the need for repetitive form submissions to every company. To submit your quote information now, click to open in new window.
The only downside to using this type of form is you cannot specify the insurers to get quotes from. If you wish to select individual companies to compare rates, we put together a list of low cost insurance companies in your area. View list of insurance companies.
Whichever method you choose, make sure you use exactly the same coverage limits for each price quote. If you compare different deductibles it’s not possible to determine the lowest rate for your BMW 7 Series. Slightly different coverage limits may result in large price differences. Just remember that having more price comparisons will enable you to find the best price.
Auto insurance companies don’t always publicize all their discounts very well, so we took the time to find both the well known and also the lesser-known savings tricks you should be using.
It’s important to understand that some of the credits will not apply to your bottom line cost. Most cut individual premiums such as medical payments or collision. Just because it seems like all the discounts add up to a free policy, you won’t be that lucky.
Companies that possibly offer these benefits are:
It’s a good idea to ask each company which discounts you may be entitled to. Some discounts might not apply in your state.
When it comes to buying the best auto insurance coverage, there is no cookie cutter policy. Each situation is unique so this has to be addressed. Here are some questions about coverages that might point out whether you will benefit from professional help.
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.
An important part of buying insurance is that you know the factors that help determine your auto insurance rates. Having a good understanding of what determines base rates allows you to make educated decisions that may reward you with much lower annual insurance costs.
Learning about specific coverages of your insurance policy can be of help when determining the best coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Listed below are the usual coverages found on the average insurance policy.
Collision coverage protection
Collision insurance pays for damage to your 7 Series resulting from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as hitting a mailbox, crashing into a building and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible to get cheaper collision coverage.
Medical expense insurance
Med pay and PIP coverage provide coverage for short-term medical expenses such as chiropractic care, funeral costs and X-ray expenses. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. It covers you and your occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay
Comprehensive (Other than Collision)
This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like a broken windshield, rock chips in glass, hitting a bird and theft. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Liability coverage will cover damage or injury you incur to people or other property by causing an accident. This coverage protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.
Liability coverage pays for claims like court costs, medical expenses and attorney fees. How much liability should you purchase? That is up to you, but consider buying higher limits if possible.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 7 Series.
Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
We just showed you a lot of tips how to get a better price on 1991 BMW 7 Series insurance. The key thing to remember is the more companies you get rates for, the higher the chance of saving money. Consumers could even find that the best price on insurance coverage is with some of the lesser-known companies. Regional companies often have lower prices on specific markets compared to the large companies like Progressive and GEICO.
As you prepare to switch companies, it’s not a good idea to skimp on coverage in order to save money. In many cases, consumers will sacrifice liability coverage limits to discover at claim time they didn’t have enough coverage. Your aim should be to buy enough coverage for the lowest price, not the least amount of coverage.
More detailed insurance coverage information can be read by following these links: