How Much Does 2007 BMW X3 Car Insurance Cost?

Want lower insurance coverage rates for your BMW X3? Confused by the crazy number of insurance coverage companies? Many other consumers are too. Drivers have so many choices that it can quickly become a lot of work to compare prices.

Which Insurance is Cheapest?

Most major insurance companies like Geico, State Farm and Progressive give insurance quotes online. Getting online quotes is pretty painless as you simply type in the amount of coverage you want as detailed in the form. Behind the scenes, the company’s rating system sends out for your driving record and credit report and generates a price determined by many factors.

This helps simplify price comparisons, but the time required to go to each company’s website and repetitively fill out multiple forms gets old quite quickly. But it’s very important to do this if you want to find the lowest possible prices on insurance.

Quote rates the easy way

A less time-consuming method to compare rates makes use of a single form that gets prices from many companies. This type of form saves time, requires less work, and makes rate comparisons a lot less work. Once the form is submitted, it gets priced and you can choose any or none of the pricing results. If one or more price quotes are lower than your current rates, you simply finish the application and purchase the new policy. It only takes a few minutes and you’ll know if lower rates are available.

In order to find out if lower rates are available, click here and submit your coverage information. If you have coverage now, it’s recommended you duplicate the coverages exactly as they are listed on your policy. Doing this guarantees you are getting rate quotes using the exact same coverages.

Advertising myths

Geico, State Farm and Progressive continually stream ads in print and on television. All the companies have a common claim about savings after switching to them. How do they all say the same thing?

Insurance companies have a certain “appetite” for the driver that earns them a profit. A good example of a driver they prefer could be between the ages of 30 and 50, insures multiple vehicles, and drives less than 10,000 miles a year. Any new insured who matches those parameters will qualify for the lowest rates and therefore will save quite a bit of money when switching.

Potential customers who do not match the requirements will have to pay a higher premium which leads to business not being written. Company advertisements say “drivers who switch” not “everyone that quotes” save that kind of money. This is how insurance companies can confidently advertise the way they do. Because of the profiling, you need to get as many quotes as possible. It’s not possible to predict the company that will provide you with the cheapest BMW X3 insurance rates.

Why you might be paying too much to insure your BMW X3

Consumers need to have an understanding of the rating factors that help determine insurance coverage rates. Having a good understanding of what determines base rates helps enable you to make changes that may reward you with lower insurance coverage prices.

  • Do you qualify for a multi-policy discount? – Some insurance coverage companies give discounts to people 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 other company rates to verify if the discount is saving money.
  • Add-on coverages can add up – There are quite a few additional coverages that can waste your money on your X3 policy. Coverages for rental car reimbursement, accident forgiveness and motor club memberships may be wasting your money. They may seem good when you first buy your policy, but if you don’t need them eliminate them to save money.
  • Males pay more for insurance – The statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that men are WORSE drivers than women. Women and men cause accidents in similar percentages, but the males cause more damage. They also get cited for more serious violations such as reckless driving. Teenage male drivers are the most expensive to insure and thus pay the highest rates.
  • Lower rates with optional equipment – Choosing a vehicle that has an advanced theft prevention system can get you a discount on your insurance coverage. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart car theft.

Are you getting all your discounts?

Auto insurance companies don’t always publicize every discount in a way that’s easy to find, so the following is a list of some of the best known and also the lesser-known savings tricks you should be using.

  • Anti-theft Discount – Cars that have factory anti-theft systems are stolen less frequently and earn discounts up to 10%.
  • Payment Method – If you pay your entire premium ahead of time instead of paying each month you may reduce your total bill.
  • Driver Safety – Completing a course in driver safety could save 5% or more if you qualify.
  • Save over 55 – Older drivers can possibly qualify for a small decrease in premiums for X3 insurance.
  • Discounts for Safe Drivers – Safe drivers can pay as much as 50% less for X3 insurance than their less cautious counterparts.
  • Resident Student – Children living away from home attending college and don’t have a car can receive lower rates.
  • E-sign – Some insurance companies will give a small break for buying your policy online.
  • New Vehicle Savings – Adding a new car to your policy can save up to 30% due to better safety requirements for new cars.
  • Life Insurance Discount – Select insurance companies reward you with a discount if you purchase auto and life insurance together.

Keep in mind that most discount credits are not given to the overall cost of the policy. Some only reduce the price of certain insurance coverages like medical payments or collision. So when it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.

For a list of insurers offering car insurance discounts, click here.

When might I need an agent?

When buying coverage for your personal vehicles, there really is not a one size fits all plan. Everyone’s needs are different.

For example, these questions can help discover if you might need an agent’s assistance.

  • Am I covered if hit by an uninsured driver?
  • Is upholstery damage covered by car insurance?
  • Is my babysitter covered when using my vehicle?
  • Who is covered when they drive my 2007 BMW X3?
  • Why am I required to buy high-risk coverage?
  • I have good health insurance, so how much medical payments coverage do I need?
  • When would I need rental car insurance?
  • What if I owe more than I can insure my car for?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to a licensed agent. If you don’t have a local agent, simply complete this short form.

Car insurance policy specifics

Learning about specific coverages of your car insurance policy aids in choosing the best coverages and the correct deductibles and limits. Car insurance terms can be ambiguous and nobody wants to actually read their policy.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP reimburse you for immediate expenses for chiropractic care, ambulance fees and rehabilitation expenses. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage provides protection when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your BMW X3.

Since many drivers carry very low liability coverage 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 coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for things such as colliding with another moving vehicle, driving through your garage door, sustaining damage from a pot hole, hitting a parking meter and crashing into a building. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.

Liability coverage

Liability insurance provides protection from damages or injuries you inflict on people or other property in an accident. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability insurance covers things such as bail bonds, court costs, repair costs for stationary objects and medical services. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like vandalism, theft, rock chips in glass, damage from flooding and falling objects. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Quote more, save more

Lower-priced 2007 BMW X3 insurance can be purchased from both online companies and with local insurance agents, and you should compare price quotes from both to have the best rate selection. Some insurance providers do not offer the ability to get a quote online and many times these small, regional companies only sell through independent insurance agents.

When shopping online for insurance coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. In too many instances, an insured dropped full coverage and learned later they didn’t have enough coverage. The proper strategy is to buy a smart amount of coverage at an affordable rate.

Drivers who switch companies do it for many reasons like delays in responding to claim requests, extreme rates for teen drivers, poor customer service or even policy non-renewal. Whatever your reason, switching insurance coverage companies is easier than you think.

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