2016 BMW 3 Series Insurance Cost

Overwhelmed by the crazy number of auto insurance choices? You’re not the only one! Consumers have so many choices that it can easily become a real hassle to compare prices.

Save big with these discounts

Companies that sell car insurance don’t list every discount in an easy-to-find place, so we took the time to find some of the best known and the harder-to-find insurance savings.

  • Anti-lock Brake System – Vehicles equipped with ABS or steering control prevent accidents and therefore earn up to a 10% discount.
  • Drivers Ed for Students – Cut your cost by having your teen driver successfully complete driver’s ed class in school.
  • Memberships – Participating in a professional or civic organization may earn a discount when buying insurance for 3 Series coverage.
  • No Claims – Good drivers with no accidents pay less when compared with frequent claim filers.
  • Payment Discounts – By paying your policy upfront instead of paying each month you could save 5% or more.
  • One Accident Forgiven – Some insurance companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims for a particular time prior to the accident.
  • Multiple Vehicles – Insuring multiple vehicles on one policy may reduce the rate for each vehicle.
  • Paperwork-free – A few companies give back up to $50 for buying your policy on their website.
  • Fewer Miles Equal More Savings – Keeping the miles down on your BMW could be rewarded with lower rates on the low mileage vehicles.
  • Save over 55 – Older drivers can possibly qualify for a small decrease in premiums for 3 Series coverage.

Consumers should know that most discounts do not apply the the whole policy. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, you won’t be that lucky.

Insurance companies that may offer some of the above discounts include:

It’s a good idea to ask each insurance company how you can save money. Some discounts might not be offered everywhere.

How to Get Insurance Coverage Comparison Quotes

There are a lot of ways you can shop for insurance coverage and some are less time-consuming than others. You can waste a lot of time talking to agents in your area, or you could use the web to get rates in a matter of minutes.

Many of the larger companies participate in an industry program that allows shoppers to complete one form, and at least one company returns a competitive quote based on that information. This system prevents you from having to do quotation requests to every company.

To compare pricing click to open in new window.

The single downside to doing it this way is you can’t choose the insurers to get pricing from. If you prefer to choose from a list of companies to compare prices, we have a page of the cheapest insurance coverage companies in your area. Click here to view list.

However you get your quotes, make absolute certain that you use exactly the same coverages with each company. If you enter different limits and deductibles on each one it’s impossible to determine the lowest rate for your BMW 3 Series. Slightly different insurance coverages may result in a large different in cost. Just keep in mind that obtaining a wide range of quotes will improve the odds of getting the best offered rates.

Why your BMW 3 Series might be costing you more

An important part of buying insurance is that you know the factors that go into determining your insurance rates. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that could result in lower insurance prices.

Listed below are a few of the “ingredients” used by your company to calculate premiums.

  • Equipment add-ons that lower insurance rates – Driving a car with anti-theft technology or alarm system can help lower your rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder your car from being stolen.
  • Where you live is a factor – Being located in a rural area has it’s advantages when it comes to insurance. City drivers have to deal with congested traffic and longer commutes to work. Less people living in that area translates into fewer accidents as well as less vandalism and auto theft.
  • Cautious drivers pay less – A bad driving record impacts your car insurance rates tremendously. Even one citation may increase your cost twenty percent or more. Drivers with clean records have lower premiums than people who have multiple driving citations. If you have severe violations like hit and run, DWI or reckless driving convictions may find they need to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to drive a vehicle legally.
  • Don’t get talked into coverage you don’t need – There are quite a few additional coverages that can waste your money on your 3 Series policy. Coverages for roadside assistance, accident forgiveness and motor club memberships may be costing you every month. They may seem like a good idea when talking to your agent, but if you don’t need them eliminate them to save money.
  • Mature drivers pay less – Young drivers tend to be more careless in a vehicle so insurance rates are higher. Mature drivers are viewed as being more responsible, tend to cause fewer accidents and are safer drivers.
  • No coverage gaps is important – Driving without insurance is a misdemeanor and you will pay a penalty because you let your coverage lapse. And not only will insurance be more expensive, getting caught without coverage can result in a license revocation or jail time.You may then be required to prove you have insurance by filing a SR-22 with your state department of motor vehicles.
  • Your spouse saves you money – Getting married actually saves money on your insurance policy. It translates into being more mature and responsible and it’s statistically proven that drivers who are married are more cautious.
  • Poor credit can mean higher rates – A driver’s credit score is a huge factor in determining your rates. If your credit rating is lower than you’d like, you could potentially save money when insuring your 2016 BMW 3 Series by improving your credit score. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers with poor credit.

But I don’t know anything about car insurance

When it comes to buying the right insurance coverage, there isn’t really a best way to insure your cars. Each situation is unique.

For instance, these questions might help in determining whether or not you would benefit from professional advice.

  • When would I need additional glass coverage?
  • Does my 2016 BMW 3 Series need full coverage?
  • Is pleasure use cheaper than using my 2016 BMW 3 Series to commute?
  • Should I carry comprehensive and collision coverage?
  • Should I waive the damage coverage when renting a car?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Am I covered if hit by an uninsured driver?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form.

Auto insurance coverages

Learning about specific coverages of your policy can be of help when determining the right coverages and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement.

Comprehensive insurance

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like theft, fire damage, damage from a tornado or hurricane and hail damage. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability car insurance

This protects you from damages or injuries you inflict on a person or their property by causing an accident. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.

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. As an example, you may have liability limits of 50/100/50 which means $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things such as medical services, court costs, repair costs for stationary objects and legal defense fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your BMW 3 Series.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Coverage for collisions

This coverage pays for damage to your 3 Series resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like sustaining damage from a pot hole, scraping a guard rail and colliding with a tree. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage pay for bills for rehabilitation expenses, prosthetic devices and hospital visits. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. Coverage applies to all vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

More choices the merrier

Cheaper 2016 BMW 3 Series insurance is available online as well as from independent agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some companies don’t offer the ability to get a quote online and most of the time these smaller companies sell through independent agents.

In this article, we covered a lot of information how to get a better price on insurance. The key concept to understand is the more rate quotes you have, the better your chances of lowering your rates. You may even discover the lowest premiums are with some of the smallest insurance companies.

When trying to cut insurance costs, do not skimp on coverage in order to save money. There have been many situations where an insured cut liability coverage limits only to find out that the few dollars in savings costed them thousands. Your strategy should be to purchase a proper amount of coverage at a price you can afford.

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