Cheap 2006 BMW 3 Series Insurance Rates

Trying to find better car insurance rates for your BMW 3 Series? Overpriced BMW 3 Series insurance can drain your personal savings and put the squeeze on your family’s finances. Shopping your coverage around is free, only takes a few minutes, and is a good way to lower your monthly bill.

Companies like Allstate, Progressive and GEICO constantly bombard you with fancy advertisements and it is challenging if not impossible to see past the corporate glitz and take the time to shop coverage around.

You should make it a habit to get comparison quotes once or twice a year because insurance rates are variable and change quite frequently. Even if you think you had the best rates on 3 Series coverage a year ago there may be better deals available now. Ignore everything you know about car insurance because I’m going to let you in on the secrets to one of the quickest ways to properly buy coverages while reducing your premium.

If you currently have car insurance, you stand a good chance to be able to save some money using this strategy. Finding affordable coverage is easy if you know what you’re doing. Nevertheless, drivers do need to learn the way companies sell online.

Factors determining your BMW 3 Series insurance premium

An important part of buying insurance is that you know the rating factors that go into determining the rates you pay for insurance. Knowing what determines base rates helps enable you to make changes that can help you get much lower annual insurance costs.

Listed below are a few of the “ingredients” that factor into your rates.

  • Careful drivers pay lower rates – Your driving record has a huge affect on how much you pay. Even a single speeding ticket may increase your cost twenty percent or more. Drivers with clean records get better rates compared to drivers with tickets. Drivers who get flagrant violations such as hit and run, DWI or reckless driving convictions may be required to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to keep their license.
  • Safer occupants lowers premiums – Vehicles with high crash test scores tend to have better insurance rates. Safer cars result in less severe injuries and lower injury rates means lower claim amounts and more competitive rates for policyholders. If your BMW scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Do you have enough liability coverage? – The liability section of your policy is the protection if you are found liable for damages caused by your negligence. Liability insurance provides you with a defense in court which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not skimp.
  • Where you live can impact rates – Choosing to live in small towns and rural areas can save you money when it comes to insurance. Fewer people means reduced accidents and a lower car theft rate. Drivers in populated areas have to deal with traffic congestion and longer commute times. More time on the road means more change of being in an accident.
  • Small claims can cost you – Companies award cheaper rates to insureds who do not rely on their insurance for small claims. If you are a frequent claim filer, you can pretty much guarantee higher rates. Car insurance is intended to be relied upon for the large, substantial claims.
  • High deductibles save money – Your deductibles define the amount you are required to spend before a claim is paid by your company. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply would be running into the backend of another car, damage caused by hail, or theft. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance on 3 Series coverage.

How to reduce BMW 3 Series insurance rates

The cost of insuring your cars can be expensive, but you may find discounts that you may not know about. Larger premium reductions will be automatically applied when you get a quote, but less common discounts must be specially asked for before you get the savings.

  • Defensive Driver – Taking part in a defensive driving course could cut 5% off your bill depending on where you live.
  • Bundle and Save – When you combine your home and auto insurance with one company you will save up to 20% off your total premium.
  • Life Insurance – Some companies give a break if you buy life insurance from them.
  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company can get a discount on all vehicles.
  • New Car Discount – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
  • Low Mileage – Keeping the miles down on your BMW could qualify for better rates on cars that stay parked.
  • Organization Discounts – Participating in a professional or civic organization may earn a discount on car insurance on 3 Series coverage.
  • Seat Belt Usage – Drivers who require all occupants to wear their seat belts can save 10% or more off the personal injury premium cost.
  • Discount for Good Grades – Getting good grades can get you a discount of up to 25%. The good student discount can last up to age 25.

It’s important to understand that some credits don’t apply to the entire policy premium. Some only reduce specific coverage prices like medical payments or collision. Just because it seems like adding up those discounts means a free policy, car insurance companies aren’t that generous. But all discounts will bring down your overall premium however.

For a list of providers with the best car insurance discounts, follow this link.

Tailor your coverage to you

When choosing the best auto insurance coverage, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s so your insurance needs to address that. Here are some questions about coverages that could help you determine if you will benefit from professional help.

  • Should I buy additional glass protection?
  • Do I need roadside assistance coverage?
  • What should my uninsured motorist coverage limits be in my state?
  • Am I covered when pulling a rental trailer?
  • Who is covered when they drive my 2006 BMW 3 Series?
  • Does insurance cover tools stolen from my truck?
  • What happens if I owe more than my 2006 BMW 3 Series is worth?
  • Can I rate high risk drivers on liability-only vehicles?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier

Auto insurance coverage basics

Understanding the coverages of your policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by auto insurance companies.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses for things like dental work, surgery, X-ray expenses and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Comprehensive coverage – This coverage will pay to fix damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for things such as fire damage, damage from flooding and falling objects. The highest amount your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability car insurance – Liability coverage can cover injuries or damage you cause to a person or their property that is your fault. It protects YOU against other people’s claims, and does not provide coverage for 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 might see policy limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Some companies may use a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for claims such as repair costs for stationary objects, medical expenses, repair bills for other people’s vehicles, medical services and court costs. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Collision coverages – Collision insurance covers damage to your 3 Series resulting from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims like sideswiping another vehicle, crashing into a building, colliding with another moving vehicle, colliding with a tree and driving through your garage door. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist 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 2006 BMW 3 Series.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually these limits do not exceed the liability coverage limits.

And the best car insurance company is…

Lower-priced 2006 BMW 3 Series insurance is available on the web and also from your neighborhood agents, and you should compare price quotes from both to have the best selection. Some insurance providers may not provide you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.

We just presented some good ideas how to save on insurance. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. You may be surprised to find that the best prices are with some of the smallest insurance companies. These companies may have significantly lower rates on certain market segments than their larger competitors like Allstate and Progressive.

Much more information about insurance is available below: