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 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.
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.
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.
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.
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.
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.
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
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