Lower Your 1996 BMW 8 Series Insurance Rates

Want better insurance coverage rates for your BMW 8 Series? Trying to find better insurance prices for a BMW 8 Series can be an all-consuming task, but you can use our insurance coverage buying tips to save time. There is a better way to compare insurance coverage rates and you need to know the best way to get price quotes for your BMW and obtain the cheapest rates from local insurance agents and online providers.

You should make it a habit to compare prices once or twice a year since rates are rarely the same from one policy term to another. Just because you found the lowest price for 8 Series coverage two years ago you will most likely find a better rate today. Forget anything you know (or think you know) about insurance coverage because we’re going to demonstrate the quickest way to lower your rates without sacrificing coverage.

If you have a current auto insurance policy or are just looking to switch companies, you will benefit by learning to reduce the price you pay and still get good coverage. Buying cheaper coverage is quite easy. Vehicle owners just need to know the tricks to compare company rates online.

The quickest method we recommend to get rate comparisons is to take advantage of the fact almost all companies allow for online access to quote your coverage. The one thing you need to do is provide the companies a bit of rating information such as if the car is leased, your general credit rating, whether you are married, and daily mileage. That rating data is instantly provided to insurance companies and you should receive rate quotes quickly.

To check rates for your , click here and enter your coverage details.

Do you qualify for a discount?

Companies offering auto insurance don’t always advertise all available discounts in an easy-to-find place, so here is a list both well-publicized as well as the least known ways to save on car insurance. If they aren’t giving you every credit possible, you’re paying more than you need to.

  • Seat Belt Usage – Drivers who require all occupants to use their safety belts can save up to 15% off your medical payments premium.
  • Good Student – Performing well in school can earn a discount of 20% or more. The discount lasts up until you turn 25.
  • New Car Discount – Insuring a new car can be considerably cheaper due to better safety requirements for new cars.
  • Payment Method – By paying your policy upfront instead of making monthly payments you may reduce your total bill.
  • Senior Discount – If you qualify as a senior citizen, you may qualify for reduced rates for 8 Series coverage.
  • Own a Home – Being a homeowner can help you save on car insurance because maintaining a house demonstrates responsibility.

It’s important to understand that many deductions do not apply the the whole policy. Most only cut the cost of specific coverages such as comp or med pay. Just because you may think adding up those discounts means a free policy, it just doesn’t work that way.

Insurance companies that may offer some of the above discounts may include but are not limited to:

Double check with each company which discounts they offer. Savings might not apply in every state.

Lesser-known factors impacting BMW 8 Series insurance rates

It’s important that you understand the factors that go into determining car insurance rates. Understanding what controls the rates you pay empowers consumers to make smart changes that can help you get big savings.

  • High crash test scores lower rates – Cars with high safety ratings tend to have better insurance rates. Safer cars result in less severe injuries and any reduction in injury severity means less money paid by your insurance company passed on to you as lower rates. If your BMW 8 Series is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
  • Better credit scores mean better rates – Credit score is a large factor in calculating your car insurance rates. People with good credit tend to be more responsible than drivers with lower credit ratings. If your credit score is low, you could save money insuring your 1996 BMW 8 Series by improving your credit score.
  • Do you work long hours in a high stress job? – Careers like doctors, social workers and financial analysts have higher average rates in part from high stress and lots of time spent at work. Conversely, jobs such as farmers, engineers and retirees get better rates for 8 Series coverage.
  • Battle of the sexes – The statistics show that women are safer drivers than men. Now that doesn’t mean women are better drivers. Men and women tend to get into accidents at about the same rate, but the men tend to have more serious accidents. Men also statistically get more serious tickets like reckless driving and DUI.
  • Liability coverage is peace of mind – Your policy’s liability coverage provides coverage if ever a jury decides you are liable for personal injury or accident damage. It provides you with a defense in court up to the limits shown on your policy. This coverage is very inexpensive as compared to coverage for physical damage, so do not cut corners here.
  • Drive less and save money – The higher the mileage driven in a year the higher your rate. Most companies charge to insure your cars determined by how the vehicle is used. Cars and trucks used primarily for pleasure use qualify for better rates as compared to vehicles used primarily for driving to work. Double check that your car insurance declarations sheet shows the correct usage for each vehicle. If your policy improperly rates your 8 Series may be costing you.

What coverages do I need?

When buying the best car insurance coverage for your personal vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is unique.

For example, these questions may help you determine if you may require specific advice.

  • Is my teenager covered with friends in the car?
  • Am I covered when driving a rental car?
  • Are split liability limits better than a combined single limit?
  • Why am I required to buy high-risk coverage?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Am I covered when pulling a rental trailer?
  • Can I afford to pay high deductible claims out of pocket?
  • Can I still get insurance after a DUI?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to an agent. To find lower rates from a local agent, complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Insurance coverage options for a 1996 BMW 8 Series

Knowing the specifics of your insurance policy can help you determine appropriate coverage and proper limits and deductibles. Insurance terms can be ambiguous and reading a policy is terribly boring.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for pain medications, chiropractic care and hospital visits. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist coverage

This provides protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your 1996 BMW 8 Series.

Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Liability insurance

This will cover damage or injury you incur to other’s property or people by causing an accident. It protects YOU against other people’s claims, and does not provide coverage for 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. You commonly see liability limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against claims like repair costs for stationary objects, medical services, legal defense fees and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but consider buying higher limits if possible.

Collision coverage protection

This will pay to fix damage to your 8 Series resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like hitting a parking meter, hitting a mailbox, colliding with a tree and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for things like vandalism, theft and falling objects. The highest amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

You can do this!

When shopping online for insurance, it’s a bad idea to reduce needed coverages to save money. There have been many situations where an insured cut comprehensive coverage or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The aim is to buy enough coverage at the best price while not skimping on critical coverages.

Insureds switch companies for a variety of reasons including not issuing a premium refund, questionable increases in premium, extreme rates for teen drivers or even being labeled a high risk driver. Regardless of your reason for switching companies, switching insurance companies can be easier than you think.

We covered a lot of ways to save on 1996 BMW 8 Series insurance. It’s most important to understand that the more rate quotes you have, the higher the chance of saving money. You may even find the best price on insurance is with a small local company.

Additional articles