How Much Does 2014 BMW 2 Series Insurance Cost?

Trying to find lower auto insurance rates for your BMW 2 Series? Did you fall for a flashy sales pitch and buy high-priced auto insurance? Believe me, there are a lot of people just like you who feel imprisoned by their auto insurance policy.

Having so many choices, it is very difficult to choose the lowest price company.

The quickest method we recommend to compare policy rates is to know the fact most of the larger companies have advanced systems to provide you with a free rate quote. To get started, all you need to do is provide details including if the vehicle is leased, whether you have decent credit, types of safety features, and which vehicles you own. That information is then submitted to many highly-rated insurers and they provide comparison quotes quickly.

BMW 2 Series insurance premiums are calculated by many factors

Consumers need to have an understanding of some of the elements that help determine the rates you pay for insurance coverage. When you know what positively or negatively influences your rates allows you to make educated decisions that will entitle you to lower insurance coverage prices.

  • Do you have a high stress job? – Did you know that where you work can have an impact on rates? Occupations like doctors, business owners and financial analysts are shown to have higher average rates due to high stress levels and lengthy work days. Conversely, jobs such as actors, engineers and performers pay the least for 2 Series insurance.
  • A lapse in coverage is a bad thing – Not having insurance is a misdemeanor and your next policy will cost more because you let your coverage lapse. Not only will rates go up, but not being able to provide proof of insurance might get you a steep fine or even jail time.You may have to prove you have insurance by filing a SR-22 with your state motor vehicle department.
  • Higher safety ratings means cheaper insurance – Cars with high safety ratings tend to have better insurance rates. Safe vehicles have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims passed on to you as lower rates. If your BMW 2 Series earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
  • Clean credit earns discounts – Your credit history is a big factor in your rate calculation. If your credit rating is not that good, you could potentially save money when insuring your 2014 BMW 2 Series by repairing your credit. Drivers with good credit tend to file fewer claims and have better driving records than those with lower credit scores.
  • Traffic citations inflate rates – Your driving citation history impacts your car insurance rates tremendously. Just one moving violation can bump up the cost by as much as thirty percent. Drivers who don’t get tickets have lower premiums than people who have multiple driving citations. Drivers who have severe citations like DUI or reckless driving may need to submit a SR-22 form with the DMV in their state in order to drive a vehicle legally.
  • Pleasure use saves money – Driving more miles every year the more you will pay for insurance coverage. The majority of insurers apply a rate based upon how you use the vehicle. Cars not used for work or commuting can get a lower rate as compared to vehicles used primarily for driving to work. An improperly rated 2 Series may be costing you. Ask your agent if your insurance coverage coverage properly reflects the proper vehicle usage, because it can save money.
  • Theft deterrents lower rates – Choosing a vehicle with a theft deterrent system can help bring down rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart car theft.
  • An active claims history can cost you – Companies give cheaper rates to policyholders who do not rely on their insurance for small claims. If you file claims often, you can definitely plan on either a policy non-renewal or much higher rates. Car insurance is intended to be relied upon for major claims that would cause financial hardship.

How to reduce 2014 BMW 2 Series insurance rates

Companies that sell car insurance do not list all available discounts very well, so we researched both the well known and the harder-to-find insurance savings.

  • Homeowners Pay Less – Owning a house can help you save on insurance due to the fact that maintaining a home demonstrates responsibility.
  • Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you could save 5% or more.
  • Drivers Ed for Students – Have your child take driver’s ed class in school.
  • No Accidents – Good drivers with no accidents pay much less as compared to drivers who are more careless.
  • Bundle and Save – If you have multiple policies with the same company you may save up to 20% off your total premium.
  • Government Employees – Simply working for the federal government could cut as much as 10% off for 2 Series insurance depending on your company.
  • Passive Restraint Discount – Cars that have air bags or automatic seat belts can qualify for discounts of 20% or more.
  • Discount for Good Grades – Performing well in school can earn a discount of 20% or more. This discount can apply up until you turn 25.

Drivers should understand that most discounts do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as liability and collision coverage. So when the math indicates adding up those discounts means a free policy, insurance companies aren’t that generous.

To see a list of providers who offer insurance discounts, click here to view.

Tailor your coverage to you

When choosing the best insurance coverage coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether your personal situation might need an agent’s assistance.

  • When should my teen driver be added to my policy?
  • Is my 2014 BMW 2 Series covered for smoke damage?
  • Why does it cost so much to insure a teen driver?
  • Should I drop comprehensive coverage on older vehicles?
  • Will filing a claim cost me more?
  • What is the minimum liability in my state?
  • Do I need higher collision deductibles?
  • Will I be non-renewed for getting a DUI or other conviction?
  • What if I don’t agree with a claim settlement offer?

If you don’t know the answers to these questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.

Auto insurance policy coverages for a 2014 BMW 2 Series

Knowing the specifics of a auto insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverages available from auto insurance companies.

Coverage for collisions

Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things such as hitting a parking meter, colliding with another moving vehicle and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for dental work, doctor visits and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants in addition to being hit by a car walking across the street. PIP is not available in all states and may carry a deductible

Liability insurance

This protects you from damages or injuries you inflict on people or other property by causing an accident. It protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/25 which stand for $25,000 bodily injury coverage, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against things such as attorney fees, repair bills for other people’s vehicles, pain and suffering and bail bonds. How much liability coverage do you need? That is up to you, but buy as much as you can afford.

Comprehensive coverage

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like hitting a deer, rock chips in glass and falling objects. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your BMW 2 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

A fool and his money are soon parted

Cheaper 2014 BMW 2 Series insurance is possible both online as well as from independent agentsinsurance , so you should be comparing quotes from both to have the best chance of lowering rates. There are still a few companies who don’t offer online quoting and most of the time these regional insurance providers sell through independent agents.

As you restructure your insurance plan, never sacrifice coverage to reduce premiums. In many instances, consumers will sacrifice full coverage and found out when filing a claim that the few dollars in savings costed them thousands. Your focus should be to buy enough coverage for the lowest price, not the least amount of coverage.

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