Save on 1999 BMW 3 Series Car Insurance Cost

If price shopping car insurance online is new to you, you may be confused by the sheer number of companies offering coverage.

Pay less by taking advantage of discounts

The price of auto insurance can be rather high, but you may find discounts that can drop the cost substantially. Larger premium reductions will be automatically applied at the time of purchase, but lesser-known reductions have to be asked for before they will apply.

  • Paperless Signup – A few companies may give you up to $50 for buying your policy over the internet.
  • Own a Home – Being a homeowner may trigger a car insurance policy discount because owning a home is proof that your finances are in order.
  • Government Employees – Being employed by or retired from a federal job could cut as much as 10% off for 3 Series coverage with a few car insurance companies.
  • Discount for New Cars – Buying coverage on a new vehicle can save up to 30% due to better safety requirements for new cars.
  • Multi-car Discount – Buying insurance for more than one vehicle on one policy may reduce the rate for each vehicle.

Consumers should know that most discount credits are not given to the entire policy premium. Most only cut the cost of specific coverages such as medical payments or collision. So despite the fact that it appears you can get free auto insurance, you won’t be that lucky. But all discounts will bring down the cost of coverage.

Companies that possibly offer these money-saving discounts include:

Double check with each insurance company what discounts are available to you. Discounts may not apply in your state.

BMW 3 Series rates are complex

An important part of buying insurance is that you know the factors that come into play when calculating the price you pay for auto insurance. Understanding what controls the rates you pay allows you to make educated decisions that can help you get better auto insurance rates.

The list below includes a few of the “ingredients” companies use to determine your rates.

  • Credit scores impact auto insurance rates – Your credit history is a important factor in calculating your auto insurance rates. If your credit score is not that good, you could be paying less to insure your 1999 BMW 3 Series by improving your credit score. Drivers who have high credit scores tend to be better drivers and file fewer claims as compared to drivers with lower credit scores.
  • More miles equals more premium – The more miles you rack up on your BMW each year the more you’ll pay to insure your vehicle. Most insurance companies rate vehicles based on their usage. Cars that are left in the garage receive lower rates than vehicles that are driven to work every day. Verify your auto insurance policy is rated on how each vehicle is driven, because improper ratings can cost you money. Incorrect usage on your 3 Series can cost quite a bit.
  • More than one policy can earn a discount – Most companies provide better rates to policyholders who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you still need to compare rates to confirm you are receiving the best rates possible.
  • Lower deductibles cost more – Deductibles for physical damage define the amount you are required to spend before your auto insurance pays a claim. Coverage for physical damage, 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 higher the amount you are required to pay out-of-pocket, the less your company will charge you for insurance for 3 Series coverage.
  • Cautious drivers pay less – Drivers with clean records get better rates than bad drivers. Only having one ticket may increase your cost by as much as thirty percent. Drivers with serious tickets such as hit and run, DWI or reckless driving convictions are required to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to continue driving.
  • Safer occupants lowers premiums – Safer cars tend to have better insurance rates. Safe vehicles reduce injuries and lower injury rates translates into fewer and smaller insurance claims and more competitive rates for policyholders. If the BMW 3 Series earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
  • Younger drivers pay higher rates – Teenage drivers are statistically proven to be less responsible when behind the wheel so auto insurance rates are higher. Older insureds tend to be more responsible, statistically cause fewer accidents and are safer drivers.
  • Don’t cancel a policy without a new one in place – Allowing your coverage to lapse will be a quick way to trigger a rate increase. And not only will your rates increase, failure to provide proof of insurance may earn you a hefty fine and possibly a revoked license.You may then be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.

Your coverage should be tailored to you

When buying coverage, there is no best way to insure your cars. Everyone’s situation is a little different.

For instance, these questions may help you determine whether you might need an agent’s assistance.

  • Are rental cars covered under my policy?
  • Can my teen drive my company car?
  • Can I still get insurance after a DUI?
  • What exactly is covered by my policy?
  • Should I buy full coverage?
  • Is my babysitter covered when using my vehicle?
  • Can I rent a car in Mexico?

If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Auto insurance ads bend the truth

Companies like Allstate, Geico and Progressive constantly bombard you with ads in print and on television. All the ads make an identical promise of big savings if you switch your policy. How does each company make almost identical claims?

All the different companies are able to cherry pick for the driver that makes them money. For example, a desirable insured could possibly be between the ages of 30 and 50, a clean driving record, and drives newer vehicles. A driver who fits that profile receives the best rates and therefore will save when switching.

Potential insureds who don’t qualify for the “perfect” profile will be charged a more expensive rate and this can result in the driver buying from a lower-cost company. The ad wording is “people who switch” but not “drivers who get quotes” save money. That’s why companies can advertise the way they do.

That is why you should get quotes from several different companies. It’s just too difficult to predict which company will fit your personal profile best.

Insurance policy coverages for a BMW 3 Series

Learning about specific coverages of your insurance policy aids in choosing appropriate coverage for your vehicles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Collision protection

This coverage will pay to fix damage to your 3 Series from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as crashing into a building, sustaining damage from a pot hole, sideswiping another vehicle and backing into a parked car. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.

Comprehensive protection

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as fire damage, hitting a bird and damage from a tornado or hurricane. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability coverages

This provides protection from injuries or damage you cause to a person or their property by causing an accident. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Another option is a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as pain and suffering, repair costs for stationary objects, court costs, bail bonds and loss of income. How much coverage you buy is a decision to put some thought into, but buy as large an amount as possible.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like X-ray expenses, prosthetic devices, pain medications and hospital visits. They can be used in conjunction with a health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state and may carry a deductible

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your 1999 BMW 3 Series.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Usually these limits are similar to your liability insurance amounts.

In Summary

As you go through the steps to switch your coverage, you should never sacrifice coverage to reduce premiums. Too many times, someone dropped collision coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.

Budget-conscious 1999 BMW 3 Series insurance is available online and also from your neighborhood agents, so you should compare both so you have a total pricing picture. There are still a few companies who may not provide online quoting and usually these smaller companies provide coverage only through local independent agents.

Drivers switch companies for any number of reasons including extreme rates for teen drivers, high rates after DUI convictions, high prices and not issuing a premium refund. Whatever your reason, choosing a new insurance company can be pretty painless.

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