How Much Does 1998 BMW Z3 Car Insurance Cost?

Want the cheapest car insurance rates for your BMW Z3? Tired of being strong-armed to insure your BMW every month? You are in the same boat as most other car owners.

Consumers have many auto insurance companies to pick from, and though it is a good thing to have a choice, it makes it harder to compare rates.

It’s a good idea to shop coverage around periodically due to the fact that insurance rates fluctuate regularly. Despite the fact that you may have had the best rates for Z3 coverage two years ago you will most likely find a better rate today. So forget all the misinformation about car insurance because you’re about to learn the things you must know in order to reduce your cost while increasing coverage.

Lower rates by qualifying for discounts

Properly insuring your vehicles can get expensive, but companies offer discounts that you may not even be aware of. Certain discounts will be applied when you complete an application, but some may not be applied and must be specially asked for prior to receiving the credit.

  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.
  • One Accident Forgiven – A handful of insurance companies will forgive one accident before your rates go up if your claims history is clear for a particular time prior to the accident.
  • Accident Free – Good drivers with no accidents pay less compared to frequent claim filers.
  • Anti-theft System – Anti-theft and alarm systems are stolen less frequently and earn discounts up to 10%.
  • Safety Course Discount – Taking a defensive driving course can save you 5% or more and easily recoup the cost of the course.
  • Federal Government Employee – Active or retired federal employment may qualify you for a discount for Z3 coverage depending on your company.
  • Resident Student – Youth drivers who are attending college and do not have access to a covered vehicle may be able to be covered for less.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates for Z3 coverage than their less cautious counterparts.
  • Multi-car Discount – Buying coverage for more than one vehicle on one policy may reduce the rate for each vehicle.
  • Payment Method – If you pay your bill all at once rather than paying monthly you can actually save on your bill.

Keep in mind that most discounts do not apply to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. Just because it seems like all the discounts add up to a free policy, it just doesn’t work that way. But any discount will cut your overall premium however.

Car insurance companies that may offer these money-saving discounts include:

It’s a good idea to ask every prospective company what discounts are available to you. Discounts might not apply in every state.

The best way we recommend to compare rate quotes is to take advantage of the fact most larger insurance companies will pay a fee to compare their rates. The only thing you need to do is provide a small amount of information like how your vehicles are used, what your job is, if a SR-22 is needed, and whether you have decent credit. That information gets transmitted to many highly-rated insurers and they provide comparison quotes instantly.

To start a quote now, click here and find out if you can get cheaper insurance.

BMW Z3 insurance rates consist of many parts

An important part of buying insurance is that you know some of the elements that come into play when calculating car insurance rates. Knowing what controls the rates you pay enables informed choices that can help you get better car insurance rates.

  • Your age impacts your rates – Mature drivers tend to be more responsible, tend to cause fewer accidents and get fewer tickets. Young drivers are statistically proven to be more careless in a vehicle and because of this, their car insurance rates are much higher.
  • Your location is important – Living in small towns and rural areas can save you money when it comes to car insurance. Drivers in populated areas have traffic congestion and much longer commute distances. Lower population means a lower chance of having an accident as well as less vandalism and auto theft.
  • Liability insurance protects assets – Your policy’s liability coverage will protect you when a jury decides you are liable for damages caused by your negligence. Liability insurance provides you with a defense in court which can cost thousands of dollars. Liability insurance is quite affordable as compared to coverage for physical damage, so drivers should carry high limits.
  • Cautious drivers pay less – Your driving record has a big impact on rates. Good drivers tend to pay less for car insurance compared to drivers with tickets. Just one moving violation can increase rates by twenty percent. Drivers who get flagrant violations such as DWI, reckless driving or hit and run convictions may be required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to keep their license.
  • Never let your coverage lapse – Driving your car without having proper coverage can get your license suspended and you will pay a penalty because you let your insurance expire. Not only will rates go up, but being ticketed for driving with no insurance will get you a license revocation or jail time.
  • More than one policy can earn a discount – Many insurers will award you with lower prices to people who carry more than one policy such as combining an auto and homeowners policy. This can amount to five, ten or even twenty percent. Even with this discount, you still need to comparison shop to verify if the discount is saving money. You may still find better rates by splitting coverages up.
  • Being married is a good thing – Getting married can actually save you money when buying car insurance. Having a significant other usually means you are more mature and responsible and it’s statistically proven that married drivers get in fewer accidents.

Car insurance is unique, just like you

When buying the right insurance coverage for your personal vehicles, there really is no one size fits all plan. Everyone’s situation is a little different so your insurance needs to address that. For example, these questions might point out whether your personal situation will benefit from professional help.

  • Does my insurance cover a custom paint job?
  • What if I owe more than I can insure my car for?
  • What is covered by UM/UIM coverage?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Am I covered if I hit a deer?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Does coverage extend to Mexico or Canada?
  • Does insurance cover tools stolen from my truck?
  • Am I covered if I crash into my own garage door?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies.

Advertising myths

Car insurance companies such as GEICO, State Farm and Progressive continually stream television and radio advertisements. They all seem to make an identical promise of big savings after switching to their company. How can each company make the same claim?

Different companies have a certain “appetite” for the type of driver that is profitable for them. For example, a desirable insured could be between 30 and 50, insures multiple vehicles, and has excellent credit. Any new insured that hits that “sweet spot” will get the preferred rates and therefore will save quite a bit of money when switching.

Drivers who don’t qualify for these standards will be charged higher rates which usually ends up with business not being written. The ad wording is “people who switch” but not “drivers who get quotes” save that much. That’s the way companies can state the savings.

That is why you should get as many comparisons as possible. It is impossible to predict which insurance companies will fit your personal profile best.

Car insurance coverage basics

Knowing the specifics of your policy can help you determine which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average car insurance policy.

Coverage for collisions

Collision coverage will pay to fix damage to your Z3 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things such as sustaining damage from a pot hole, scraping a guard rail, hitting a parking meter, sideswiping another vehicle and damaging your car on a curb. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to save money on collision insurance.


Liability coverage can cover injuries or damage you cause to people or other property that is your fault. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage protects against claims such as medical services, attorney fees, bail bonds and repair costs for stationary objects. How much liability should you purchase? That is your choice, but consider buying as much as you can afford.

Comprehensive car insurance

Comprehensive insurance pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hitting a bird, damage from flooding, a tree branch falling on your vehicle and hail damage. The maximum amount a car insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like ambulance fees, pain medications and rehabilitation expenses. They can be utilized in addition to your health insurance plan or if there is no health insurance coverage. They cover you and your occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not available in all states and may carry a deductible

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Most of the time these coverages are identical to your policy’s liability coverage.

Find Good Coverage for Less

As you restructure your insurance plan, it’s a bad idea to sacrifice coverage to reduce premiums. There are too many instances where someone dropped comprehensive coverage or liability limits only to find out that the small savings ended up costing them much more. Your goal should be to purchase plenty of coverage at an affordable rate while still protecting your assets.

Budget-conscious 1998 BMW Z3 insurance is possible from both online companies as well as from independent agents, and you need to comparison shop both so you have a total pricing picture. There are still a few companies who don’t offer you the ability to get quotes online and most of the time these smaller companies sell through independent agents.

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