Lower Your 2010 BMW 3 Series Insurance Cost

Want cheaper auto insurance rates for your BMW 3 Series? I can’t think of a single person who likes having to buy auto insurance, especially when their premiums are through the roof. Popular companies such as Geico, Farmers Insurance and State Farm constantly bombard you with ad campaigns and it is difficult to not get sucked in by the cute commercials and find the best price available.

It’s a good habit to take a look at other company’s rates every six months because prices are constantly changing. Despite the fact that you may have had the lowest price for 3 Series insurance on your last policy other companies may now be cheaper. So just forget anything you know (or think you know) about auto insurance because I’m going to teach you the right way to reduce your cost while increasing coverage.

If you are insured now or are looking for a new policy, you can use this information to find better prices and still get good coverage. Choosing the best insurance company for you is not that difficult. Consumers just need to learn the tricks to get comparison quotes online.

Best discounts on BMW 3 Series coverage

Insurance can cost an arm and a leg, but companies offer discounts that you may not know about. A few discounts will automatically apply at the time of purchase, but less common discounts must be specifically requested in order for you to get them. If they aren’t giving you every credit available, you’re just leaving money on the table.

  • Good Students Pay Less – Getting good grades can earn a discount of 20% or more. The discount lasts up until you turn 25.
  • Multi-car Discount – Buying coverage for more than one vehicle on one policy may reduce the rate for each vehicle.
  • Life Insurance Discount – Some companies give a discount if you purchase a life insurance policy as well.
  • Military Discounts – Having a deployed family member can result in better rates.
  • Clubs and Organizations – Being a member of a civic or occupational organization may earn a discount when shopping for insurance for 3 Series insurance.
  • Seat Belts Save – Using a seat belt and requiring all passengers to use a seat belt can save 10% or more off your PIP or medical payments premium.
  • Driver Safety – Successfully completing a driver safety course could cut 5% off your bill if you qualify.

It’s important to understand that most discounts do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, companies don’t profit that way. But all discounts will help reduce your overall premium however.

To see a list of companies offering insurance discounts, click this link.

BMW 3 Series insurance premiums are calculated by many factors

Smart consumers have a good feel for the rating factors that go into determining your insurance coverage rates. Having a good understanding of what influences your rates allows you to make educated decisions that may reward you with much lower annual insurance costs.

Listed below are some of the items companies use to determine rates.

  • Where do you drive? – Driving more miles in a year the more you’ll pay to insure your vehicle. Most insurance companies price each vehicle’s coverage based on their usage. Cars left parked in the garage receive lower rates than those used for commuting. Make sure your insurance coverage coverage shows the proper vehicle usage, because improper ratings can cost you money. Incorrect usage on your 3 Series can cost quite a bit.
  • Where you live can impact rates – Being located in a small town is a positive aspect when insuring your vehicles. Less people living in that area means reduced accidents. Drivers who live in large cities regularly have more traffic problems and a longer drive to work. Higher commute times can result in more accidents.
  • Poor driving leads to higher costs – Your driving citation history has a big impact on rates. Careful drivers get better rates than people who have multiple driving citations. Just one speeding ticket can boost insurance rates by twenty percent. Drivers who have severe citations like reckless driving, hit and run or driving under the influence may need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to drive a vehicle legally.
  • Your car’s features help determine rates – Owning a car with anti-theft technology or alarm system can save you a little every year. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.
  • Safer cars are cheaper to insure – Cars with high safety ratings are cheaper to insure. These vehicles have better occupant injury protection and lower injury rates translates into savings for insurance companies passed on to you as lower rates. If your BMW 3 Series has ratings of a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
  • Battle of the sexes – Statistics have proven 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 are in accidents at a similar rate, but the male of the species cause more damage. Men also tend to get cited for more serious violations such as reckless driving. Male drivers age 16 to 19 are the most expensive to insure and therefore have the most expensive insurance coverage rates.
  • Your credit rating is important – Having a bad credit score is a big factor in your rate calculation. So if your credit history is lower than you’d like, you could pay less to insure your 2010 BMW 3 Series by spending a little time repairing your credit. Drivers with good credit tend to file fewer claims and have better driving records than those with poor credit.

Tailor your coverage to you

When choosing adequate coverage for your vehicles, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s and your policy should reflect that. These are some specific questions could help you determine whether your personal situation could use an agent’s help.

  • How does medical payments coverage work?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Am I covered if my car is in a flood?
  • If I drive on a suspended license am I covered?
  • What is the ISO rating for a 2010 BMW 3 Series?
  • Is my 2010 BMW 3 Series covered for flood damage?
  • Are my friends covered when driving my 2010 BMW 3 Series?
  • How high should my medical payments coverage be?
  • Can I afford low physical damage deductibles?
  • Am I covered if I hit my neighbor’s mailbox?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier It only takes a few minutes and may give you better protection.

Insurance ads bend the truth

Consumers constantly see and hear ads that promise big savings from the likes of 21st Century, Allstate and State Farm. They all make the same claim that you can save if you switch your coverage to them.

How can each company claim to save you money? It’s all in the numbers.

All the different companies have a certain “appetite” for the driver that makes them money. An example of a driver they prefer might be profiled as over the age of 40, is a homeowner, and drives less than 10,000 miles a year. A customer getting a price quote who meets those qualifications receives the best rates and therefore will save a lot of money.

Potential insureds who do not match the requirements will have to pay a higher premium which leads to business going elsewhere. The ads say “drivers who switch” not “everybody who quotes” save money. That’s why insurance companies can advertise the way they do.

Because of the profiling, drivers should quote coverage with many companies. You cannot predict which company will provide you with the cheapest BMW 3 Series insurance rates.

Specifics of your auto insurance policy

Learning about specific coverages of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and reading a policy is terribly boring. Listed below are the usual coverages offered by auto insurance companies.

Comprehensive protection

Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like hitting a bird, a tree branch falling on your vehicle and damage from getting keyed. 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 it’s probably time to drop comprehensive insurance.

Medical expense coverage

Medical payments and Personal Injury Protection insurance kick in for expenses for things like X-ray expenses, surgery and dental work. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Coverage for liability

This provides protection from injuries or damage you cause to other people or property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/25 that means you have $25,000 bodily injury coverage, 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 can pay for claims such as court costs, attorney fees, repair bills for other people’s vehicles and medical expenses. How much coverage you buy is up to you, but it’s cheap coverage so purchase as much as you can afford.

Uninsured or underinsured coverage

This provides protection from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your BMW 3 Series.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these limits are set the same as your liablity limits.

Collision protection

Collision insurance covers damage to your 3 Series resulting from a collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like hitting a parking meter, crashing into a building, backing into a parked car, sideswiping another vehicle and hitting a mailbox. Collision is rather expensive coverage, so consider dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Make an honest buck

We just covered some good ideas how you can reduce 2010 BMW 3 Series insurance prices online. The most important thing to understand is the more rate quotes you have, the better likelihood of reducing your rate. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising. Smaller companies may often insure only within specific states and give getter rates compared to the large companies like Allstate, Geico and Progressive.

Affordable insurance is definitely available both online and with local insurance agents, and you need to comparison shop both to get a complete price analysis. Some car insurance companies do not offer the ability to get a quote online and these small insurance companies work with independent agents.

Much more information about car insurance can be read on the following sites: