Save on 2013 BMW Z4 Insurance Cost

Did you fall for a flashy sales pitch and buy an underperforming, overpriced car insurance policy? Trust us when we tell you there are many consumers feeling the pinch from expensive car insurance. Big companies like State Farm, Progressive and Geico continually hit you with TV and radio ads and it can be hard to see past the corporate glitz and effectively compare rates to find the best deal.

It’s smart to price shop coverage before your policy renews due to the fact that insurance rates go up and down regularly. Despite the fact that you may have had the best rates on Z4 insurance last year other companies may now be cheaper. There is too much inaccurate information about car insurance on the internet, so by reading this article, you’re going to learn some proven techniques to slash your car insurance rates.

These discounts can lower your rates

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to help offset the cost. Most are applied at the time of purchase, but less common discounts must be asked about prior to receiving the credit. If you aren’t receiving every discount you qualify for, you are paying more than you should be.

  • Military Rewards – Being on active duty in the military may qualify for rate reductions.
  • E-sign – Certain companies may give you up to $50 just for signing your application on their website.
  • Low Mileage Discounts – Fewer annual miles on your BMW could qualify for discounted rates on garaged vehicles.
  • College Student – Any of your kids who live away from home without a vehicle on campus can receive lower rates.
  • Drivers Ed for Students – Have your child successfully complete driver’s ed class in high school.

A little note about advertised discounts, most of the big mark downs will not be given to all coverage premiums. Most only reduce specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, auto insurance companies aren’t that generous. But any discount will cut your overall premium however.

Insurance companies that may offer these benefits may include but are not limited to:

Check with every prospective company what discounts are available to you. All car insurance discounts might not apply in your state.

BMW Z4 insurance rates have many determining factors

Smart consumers have a good feel for some of the elements that come into play when calculating insurance rates. Having a good understanding of what controls the rates you pay enables informed choices that may reward you with big savings.

The list below includes some of the factors insurance companies consider when setting rates.

  • Higher safety ratings means cheaper insurance – Vehicles with high crash test scores 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 your BMW earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Do you qualify for a multi-policy discount? – Many insurance companies give discounts to insureds who consolidate policies with them. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even with this discount, you still need to compare other company rates to ensure the best deal.
  • Don’t cancel a policy without a new one in place – Letting your insurance expire is a fast way to pay more for insurance. Not only will you pay more, but not being able to provide proof of insurance might get you a revoked license or a big fine.
  • With age comes lower rates – Mature drivers tend to be more responsible, file fewer claims and receive fewer citations. Youthful drivers have a tendency to get distracted easily in a vehicle therefore insurance rates are much higher.
  • How credit affects insurance rates – Having a bad credit score is a big factor in your rate calculation. Drivers who have good credit tend to be better drivers and file fewer claims than drivers with lower credit scores. Therefore, if your credit is low, you could potentially save money when insuring your 2013 BMW Z4 by repairing your credit.
  • Marriage brings a discount – Getting married can actually save you money on your policy. Having a significant other is viewed as being more mature and statistics show drivers who are married are more cautious.
  • Keep rates low by being claim-free – Insurance companies award discounts to people who are claim-free. If you file claims often, you can look forward to either higher rates or even cancellation. Insurance coverage is intended to be relied upon for the large, substantial claims.
  • Do you need the policy add-ons? – There are a lot of extra bells and whistles that you can get tricked into buying if you aren’t careful. Coverages for rental car reimbursement, accidental death and motor club memberships may be costing you every month. These coverages may sound good when you first buy your policy, but if you don’t need them eliminate them to save money.

Different people need different coverages

When choosing the right insurance coverage for your personal vehicles, there isn’t really a perfect coverage plan. Everyone’s situation is unique so your insurance should reflect that For example, these questions might point out whether your personal situation would benefit from professional advice.

  • Is business property covered if stolen from my car?
  • Does my medical payments coverage pay my health insurance deductible?
  • Can my teen driver be rated on a liability-only vehicle?
  • What is PIP insurance?
  • Is pleasure use cheaper than using my 2013 BMW Z4 to commute?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does my insurance cover my expensive audio equipment?

If it’s difficult to answer those questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, free and you can get the answers you need.

Ads can be misleading

Consumers constantly see and hear ads that promise big savings from companies such as State Farm, Geico and Progressive. All the ads have a common claim of big savings if you change your policy.

But how can every company make the same claim?

Insurance companies can use profiling for the right customer they prefer to insure. For instance, a driver they prefer might be over the age of 40, insures multiple vehicles, and has great credit. A propective insured who matches those parameters will qualify for the lowest rates and most likely will save a lot of money.

Potential insureds who do not match the requirements will have to pay a more expensive rate which usually ends up with business not being written. The ad wording is “drivers who switch” not “everyone that quotes” save that much. That’s why companies can state the savings.

Because of the profiling, it’s extremely important to compare as many rates as you can. It’s impossible to know which insurance companies will provide you with the cheapest BMW Z4 insurance rates.

Information about specific coverages

Learning about specific coverages of your car insurance policy can help you determine which coverages you need for your vehicles. The terms used in a policy can be confusing and coverage can change by endorsement. Listed below are the usual coverages found on most car insurance policies.

Liability auto insurance – Liability coverage will cover damages or injuries you inflict on people or other property in an accident. This insurance protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as emergency aid, bail bonds and repair bills for other people’s vehicles. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.

Collision coverages – Collision coverage pays for damage to your Z4 resulting from a collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like sustaining damage from a pot hole, backing into a parked car, sideswiping another vehicle, crashing into a building and hitting a mailbox. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Another option is to raise the deductible to save money on collision insurance.

Comprehensive insurance – This covers damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like a tree branch falling on your vehicle, damage from a tornado or hurricane, rock chips in glass, hail damage and damage from flooding. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for immediate expenses for things like pain medications, rehabilitation expenses and doctor visits. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your BMW Z4.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Most of the time the UM/UIM limits are set the same as your liablity limits.

Summing up your auto insurance search

As you go through the steps to switch your coverage, don’t be tempted to reduce needed coverages to save money. There are many occasions where consumers will sacrifice uninsured motorist or liability limits only to discover later that the few dollars in savings costed them thousands. Your goal should be to get the best coverage possible at the best price while not skimping on critical coverages.

We just presented a lot of information how to save on 2013 BMW Z4 insurance. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Drivers may discover the lowest rates come from a small local company. Smaller companies often have lower prices on specific markets compared to the large companies like State Farm or Progressive.

Much more information about auto insurance can be found below: