I can’t think of a single person who looks forward to paying for insurance coverage, especially when they are paying too much. Because there are so many options, it can be diffult for consumers to pick the cheapest provider.
Companies don’t always publicize all their discounts in a way that’s easy to find, so we took the time to find some of the more common and the more hidden ways to save on insurance. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.
Keep in mind that many deductions do not apply to the entire policy premium. Most only cut specific coverage prices like comprehensive or collision. So when it seems like you can get free auto insurance, it doesn’t quite work that way.
Insurance companies who might offer these benefits are:
Double check with each insurance company which discounts you may be entitled to. All car insurance discounts might not be offered in your area.
Shopping for lower car insurance rates can be a lot of work if you don’t know the easiest way. You can waste a lot of time driving to agents in your area, or you could save time and use online quotes to get rates in a matter of minutes.
Many popular insurance companies are enrolled in a marketplace that enables customers to complete one form, and each participating company returns a rated price. This eliminates the need for repetitive form submissions for every car insurance company.
To use this form to compare 1997 BMW 8 Series insurance rates click here to open in new window.
The only drawback to getting quotes like this is you cannot specify which companies to get quotes from. If you would rather choose specific providers for rate comparison, we have a page of low cost car insurance companies in your area. Click to view list.
It doesn’t matter which method you choose, just be sure to compare identical coverages and limits with each company. If you use different deductibles it will be very difficult to make a fair comparison for your BMW 8 Series.
It’s important that you understand the rating factors that play a part in calculating the rates you pay for insurance coverage. When you know what positively or negatively impacts premium levels enables informed choices that may reward you with lower insurance coverage prices.
When buying the right insurance coverage, there is no “perfect” insurance plan. Everyone’s needs are different so this has to be addressed. For instance, these questions might point out whether your personal situation might need an agent’s assistance.
If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and you can get the answers you need.
Consumers can’t get away from ads for cheaper car insurance from the likes of Progressive, Allstate and GEICO. They all seem to make the same claim that you can save if you switch your coverage to them.
But how can every company claim to save you money?
All the different companies have a preferred profile for the driver that earns them a profit. A good example of a desirable insured might be a mature driver, has no tickets, and chooses high deductibles. A customer getting a price quote who meets those qualifications receives the best rates and is almost guaranteed to save quite a bit of money when switching.
Potential insureds who don’t measure up to this ideal profile will have to pay higher prices which leads to the customer not buying. The ads state “drivers who switch” not “everybody who quotes” save that much. That’s why companies can truthfully advertise the savings. Because of the profiling, drivers must compare many company’s rates. It’s just too difficult to predict which insurance companies will provide you with the cheapest BMW 8 Series insurance rates.
Understanding the coverages of insurance can help you determine the best coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Shown next are the normal coverages offered by insurance companies.
Collision coverage protection
This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers claims such as driving through your garage door, crashing into a building and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.
Insurance for medical payments
Med pay and PIP coverage provide coverage for bills for things like dental work, rehabilitation expenses and nursing services. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Auto liability insurance
Liability insurance will cover damages or injuries you inflict on a person or their property. It protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.
Liability coverage protects against things such as court costs, repair bills for other people’s vehicles, bail bonds and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.
Comprehensive coverage (or Other than Collision)
This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like hail damage, hitting a bird, falling objects and vandalism. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
Uninsured Motorist or Underinsured Motorist insurance
This protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your BMW 8 Series.
Because many people only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.
Cheaper 1997 BMW 8 Series insurance can be found online and with local insurance agents, and you need to price shop both to get a complete price analysis. A few companies do not offer the ability to get a quote online and most of the time these smaller companies sell through independent agents.
As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped liability coverage limits to discover at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest price while not skimping on critical coverages.
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