2003 BMW 3 Series Insurance Rates

Sick and tired of scraping the payment together each month for car insurance? You are in the same boat as many other consumers.

Because you have many insurance coverage companies to choose from, it is hard for the average consumer to choose the lowest cost insurer.

Buying car insurance is easy if you know what you’re doing. Basically, everyone who is required by state law to have insurance stands a good chance to be able to find better rates. Although car owners must know how the larger insurance companies sell online and take advantage of how the system works.

The quickest method to compare car insurance rates is to know the fact most larger insurance companies participate in a system to give you rate quotes. To start a quote, the only thing you need to do is provide the companies a bit of rating information such as what you do for a living, if it has an alarm system, which vehicles you own, and if a SR-22 is required. Your rating data is submitted instantly to many highly-rated insurers and they respond with quotes very quickly.

To get price quotes for your 2003 BMW 3 Series, click here and see if a lower rate is available.

Switch companies and save? Really?

State Farm, Allstate and GEICO constantly bombard you with ads in print and on television. All the companies have a common claim that you can save if you switch to them. How can each company say the same thing? This is how they do it.

Different companies have a certain “appetite” for the right customer they prefer to insure. A good example of a preferred risk could possibly be over the age of 40, has no tickets, and drives newer vehicles. A customer who meets those qualifications will get the preferred rates and most likely will pay quite a bit less when switching companies.

Potential insureds who fall outside the requirements will be charged higher premiums and ends up with the driver buying from a lower-cost company. The ad wording is “customers that switch” not “people who quote” save that much money. That’s why insurance companies can confidently make those claims. That is why it is so important to quote coverage with many companies. It’s just too difficult to predict which insurance coverage company will give you the biggest savings on BMW 3 Series insurance.

Discounts are great for lower rates

Companies offering auto insurance don’t always list all available discounts very clearly, so the following is a list of some of the best known and the more hidden ways to save on auto insurance.

  • Distant Student – Kids in college living away from home attending college and don’t have a car may qualify for this discount.
  • Passive Restraints and Air Bags – Cars that have air bags can get savings of up to 25% or more.
  • One Accident Forgiven – A few companies will allow you to have one accident before your rates go up if your claims history is clear for a set time period.
  • Safety Course Discount – Completing a driver safety course could possibly earn you a 5% discount and easily recoup the cost of the course.
  • Save with a New Car – Insuring a new car can save up to 30% due to better safety requirements for new cars.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes can reduce accidents and will save you 10% or more.
  • Own a Home – Owning a home may trigger a auto insurance policy discount because maintaining a house demonstrates responsibility.
  • Good Student Discount – Getting good grades can save 20 to 25%. This discount can apply until age 25.

It’s important to understand that many deductions do not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like liability and collision coverage. Just because it seems like you could get a free auto insurance policy, companies don’t profit that way.

A partial list of companies that may have these discounts include:

Double check with all companies you are considering which discounts they offer. All car insurance discounts might not apply in every state.

You may need specialized coverage

When it comes to choosing the right insurance coverage, there isn’t really a “best” method to buy coverage. Every situation is different so this has to be addressed. For instance, these questions could help you determine if your situation would benefit from professional advice.

  • Should I have combined single limit or split liability limits?
  • How high should my uninsured/underinsured coverage be in my state?
  • Am I covered when driving a rental car?
  • Am I covered when driving in Canada or Mexico?
  • Do I need added coverage for expensive stereo equipment?
  • Am I covered when pulling a rental trailer?
  • Does coverage extend to a rental car in a foreign country?
  • When should I drop full coverage on my 2003 BMW 3 Series?
  • I have a DUI can I still get coverage?
  • Is a new car covered when I drive it off the dealer lot?

If you’re not sure about those questions but you know they apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.

Specific coverages for a 2003 BMW 3 Series

Knowing the specifics of a auto insurance policy can be of help when determining the right coverages and proper limits and deductibles. Auto insurance terms can be impossible to understand and nobody wants to actually read their policy. Listed below are typical coverages offered by auto insurance companies.

Comprehensive coverage

Comprehensive insurance covers damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as hail damage, damage from a tornado or hurricane and vandalism. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability auto insurance

This provides protection from injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 100/300/100 which means a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage pays for claims such as medical services, loss of income, pain and suffering and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as pain medications, surgery and doctor visits. They can be utilized in addition to your health insurance program or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your BMW 3 Series.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Collision coverage protection

This covers damage to your 3 Series caused by collision with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things like colliding with a tree, damaging your car on a curb, crashing into a building and scraping a guard rail. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to raise the deductible to bring the cost down.

The best insurance company isn’t always the cheapest

We just showed you a lot of techniques to lower your 2003 BMW 3 Series insurance rates. The key thing to remember is the more times you quote, the better likelihood of reducing your rate. Consumers may even find the most savings is with a small local company. Smaller companies can often provide lower rates in certain areas than their larger competitors like State Farm and Allstate.

The cheapest insurance is attainable on the web and also from your neighborhood agents, so compare prices from both in order to have the best chance of saving money. Some insurance providers may not provide online price quotes and many times these smaller companies only sell through independent insurance agents.

Even more information is available by following these links: