Cheaper 1997 BMW 3 Series Insurance Cost

Paying for high-priced BMW 3 Series insurance can take a big chunk out of your personal savings and make it hard to pay other bills. Doing a price comparison is a great way to make sure you’re not throwing money away. Companies like GEICO, Farmers Insurance and State Farm all claim big savings with TV and radio ads and consumers find it hard to avoid their marketing magic and find the best price available.

Companies offer discounts so take them!

Companies don’t list every available discount in a way that’s easy to find, so we took the time to find some of the more common and the more hidden insurance coverage savings. If you aren’t receiving every discount you deserve, you’re just leaving money on the table.

  • Sign Online – A few companies will discount your bill up to fifty bucks for buying a policy and signing up over the internet.
  • Senior Discount – Older drivers may be able to get a small decrease in premiums for 3 Series coverage.
  • Clubs and Organizations – Being a member of a professional or civic organization is a good way to get lower rates when shopping for insurance coverage for 3 Series coverage.
  • Accident Free – Claim-free drivers pay much less compared to frequent claim filers.
  • Service Members Pay Less – Being on active duty in the military can result in better rates.
  • Drive Less and Save – Driving fewer miles can qualify you for lower rates on the low mileage vehicles.
  • Federal Government Employee – Employees or retirees of the government could cut as much as 10% off for 3 Series coverage with a few insurance coverage companies.
  • Discount for New Cars – Adding a new car to your policy can be considerably cheaper compared to insuring an older model.
  • Good Student Discount – Getting good grades can save 20 to 25%. This discount can apply up until you turn 25.

Drivers should understand that most discount credits are not given to the entire cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. So even though it sounds like having all the discounts means you get insurance for free, insurance coverage companies aren’t that generous.

Insurance companies that may offer these discounts are:

Check with all companies you are considering which discounts they offer. All car insurance discounts might not apply everywhere.

Your BMW 3 Series insurance rate is a complex equation

It’s important that you understand the factors that help determine the rates you pay for insurance. Having a good understanding of what controls the rates you pay allows you to make educated decisions that can help you get better insurance rates.

The following are some of the items companies use to determine your rates.

  • Drive a safer car and pay less – Vehicles with high crash test scores can get you lower premiums. The safest vehicles result in less severe injuries and lower injury rates translates into fewer and smaller insurance claims and lower rates for you. If your BMW earned at least four stars on it may be receiving lower rates.
  • Do you have a high stress job? – Careers like doctors, executives and accountants tend to have higher rates than average attributed to stressful work requirements and lengthy work days. On the flip side, jobs such as pilots, athletes and the unemployed receive lower rates for 3 Series coverage.
  • Younger drivers pay higher rates – Older drivers are more responsible, file fewer claims and are safer drivers. Teen drivers have a tendency to get distracted easily behind the wheel therefore insurance rates are much higher.
  • Rate your vehicle for proper use – The more miles you rack up on your BMW in a year’s time the more you will pay for insurance. Most insurance companies rate vehicles based on how the vehicle is used. Vehicles left parked in the garage qualify for better rates than vehicles that are driven to work every day. If your policy improperly rates your 3 Series can result in significantly higher rates. Make sure your insurance policy is showing how each vehicle is driven.

Do I just need basic coverages?

When it comes to choosing the right insurance coverage for your vehicles, there isn’t really a one size fits all plan. Each situation is unique so your insurance needs to address that. These are some specific questions can aid in determining if you would benefit from an agent’s advice.

  • Do I have newly-aquired coverage?
  • Do I need more liability coverage?
  • Do I have any recourse if my insurance company denies a claim?
  • What is an SR-22 filing?
  • Do I need special endorsements for business use of my vehicle?
  • Can I make deliveries for my home business?
  • Is business equipment covered while in my vehicle?
  • Do I have coverage when using my vehicle for my home business?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.

Auto insurance myths debunked

Consumers get pounded daily by advertisements that promise big savings by Allstate and Progressive. All the ads make the same claim that you’ll save big after switching to their company.

How does each company make almost identical claims? It’s all in the numbers.

All companies have a certain “appetite” for the type of driver they prefer to insure. An example of a driver they prefer could possibly be a mature driver, owns a home, and drives newer vehicles. A customer that hits that “sweet spot” will get very good rates and is almost guaranteed to cut their rates substantially.

Consumers who don’t meet the requirements will be charged a more expensive rate and this can result in the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save money. That is how companies can make those claims. That is why you need to get as many comparisons as possible. You cannot predict which company will give you the biggest savings on BMW 3 Series insurance.

Auto insurance coverages 101

Learning about specific coverages of a auto insurance policy can be of help when determining appropriate coverage for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below are the usual coverages found on the average auto insurance policy.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Liability auto insurance – Liability coverage protects you from injuries or damage you cause to other people or property. It protects you against claims from other people, and 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. As an example, you may have policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for claims such as medical expenses, attorney fees, legal defense fees and bail bonds. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Comprehensive protection – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like hail damage, a tree branch falling on your vehicle, rock chips in glass and fire damage. The most you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Collision coverage – Collision insurance will pay to fix damage to your 3 Series caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as backing into a parked car, hitting a parking meter, crashing into a building, crashing into a ditch and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.

Medical expense coverage – Coverage for medical payments and/or PIP kick in for bills for EMT expenses, surgery, nursing services, doctor visits and prosthetic devices. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states and may carry a deductible

Save your cold hard cash

Budget-conscious 1997 BMW 3 Series insurance is attainable both online and with local insurance agents, and you should be comparing both so you have a total pricing picture. Some companies do not offer online price quotes and most of the time these regional insurance providers sell through independent agents.

As you restructure your insurance plan, it’s very important that you do not skimp on critical coverages to save a buck or two. In too many instances, an insured dropped liability coverage limits only to discover later that it was a big error on their part. The ultimate goal is to find the BEST coverage for the lowest price, not the least amount of coverage.

Additional insurance information can be read at the links below