1998 BMW 7 Series Insurance Cost – 10 Tricks for Cheapest Prices

People not familiar with shopping for insurance online will discover shopping for low-cost auto insurance to be a formidable task.

Compare the Market for Car Insurance

Most companies such as State Farm, GEICO and Progressive provide prices for coverage on the web. The process is quite simple as you simply enter the coverages you want into the quote form. Upon sending the form, the system gets your credit score and driving record and provides a quote based on these factors.

Online quotes makes comparing rates easy, but the time it takes to visit different websites and type in the same information gets old quite quickly. But it’s very important to perform this step in order to get a better rate.

There is a better way to compare rates

The preferred way to find lower prices utilizes a single form that gets price quotes from a lot of companies. This type of form saves time, reduces the work, and makes online shopping much more enjoyable and efficient. After sending your information, your coverage is rated and you can select any of the quotes returned.

If one or more price quotes are lower than your current rates, you simply finish the application and purchase the new policy. The entire process takes just a few minutes to complete and can result in significant savings.

If you want to fill out one form to compare multiple rates now, simply click here to open in new window and fill out the form. To compare your current rates, we recommend you replicate deductibles and limits exactly as they are listed on your policy. This helps ensure you will receive a fair comparison based on identical coverages.

Don’t miss these ten discounts

The cost of insuring your cars can be expensive, but there are discounts available to help offset the cost. Some trigger automatically at the time of purchase, but less common discounts must be requested specifically before you will receive the discount.

  • Club Memberships – Being a member of a civic or occupational organization may earn a discount when buying auto insurance on 7 Series insurance.
  • Multiple Vehicles – Buying coverage for multiple vehicles on one policy can get a discount on all vehicles.
  • Good Student – Performing well in school can be rewarded with saving of up to 25%. The discount lasts up to age 25.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or motorized seat belts may earn rate discounts of up to 25% or more.
  • Homeowners Pay Less – Being a homeowner may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
  • Life Insurance – Some companies give a discount if you purchase life insurance.
  • Payment Discounts – If you pay your entire premium ahead of time rather than paying monthly you can actually save on your bill.
  • Senior Citizens – Mature drivers may be able to get a discount up to 10% on 7 Series insurance.
  • Discount for Swiching Early – Select companies give a discount for buying a policy prior to your current policy expiring. The savings is around 10%.
  • Claim Free – Claim-free drivers pay less compared to drivers who are more careless.

It’s important to note that most credits do not apply the the whole policy. Some only apply to individual premiums such as comp or med pay. Just because you may think you can get free auto insurance, you’re out of luck. Any amount of discount will bring down the cost of coverage.

A partial list of companies who might offer these money-saving discounts include:

Check with all companies you are considering which discounts you may be entitled to. Some discounts might not apply in your area.

When might I need help?

When it comes to choosing coverage for your vehicles, there really is no one size fits all plan. Everyone’s needs are different.

These are some specific questions can help discover whether you might need professional guidance.

  • Is my 1998 BMW 7 Series covered for flood damage?
  • Are rock chip repairs covered?
  • When should I drop full coverage on my 1998 BMW 7 Series?
  • When do I need to add a new car to my policy?
  • Exactly who is provided coverage by my policy?
  • What is no-fault insurance?
  • Can I rate high risk drivers on liability-only vehicles?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • How do I file an SR-22 for a DUI in my state?
  • Am I covered if I hit a deer?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form.

Car insurance coverages for a BMW 7 Series

Knowing the specifics of your policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your BMW 7 Series.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Usually these limits do not exceed the liability coverage limits.

Auto collision coverage

Collision insurance will pay to fix damage to your 7 Series resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims such as crashing into a building, damaging your car on a curb, backing into a parked car, crashing into a ditch and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Liability auto insurance

Liability insurance protects you from damage that occurs to other’s property or people by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for things like medical expenses, attorney fees, bail bonds and court costs. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Comprehensive protection

Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a deer, damage from flooding, a tree branch falling on your vehicle, fire damage and damage from getting keyed. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage

Coverage for medical payments and/or PIP kick in for immediate expenses for EMT expenses, prosthetic devices, funeral costs and dental work. They can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not universally available and may carry a deductible

Have the Midas touch

When shopping online for insurance coverage, never reduce coverage to reduce premium. In many cases, consumers will sacrifice uninsured motorist or liability limits only to regret that the few dollars in savings costed them thousands. The proper strategy is to purchase plenty of coverage at a price you can afford while still protecting your assets.

We just showed you some good ideas how to shop for 1998 BMW 7 Series insurance online. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. Consumers may even find the lowest premiums are with some of the lesser-known companies.

Insureds who switch companies do it for a number of reasons such as high prices, policy non-renewal, poor customer service or being labeled a high risk driver. Regardless of your reason for switching companies, finding a great new company is pretty easy and you might even save some money in the process.

More detailed insurance coverage information can be read at these sites: