Compare 2015 BMW i3 Insurance Rates

Consumers have options when looking for the lowest priced BMW i3 insurance. You can either spend your time contacting agents trying to get quotes or leverage the internet to get rate quotes. There are more efficient ways to buy insurance coverage so you’re going to learn the quickest way to quote coverages for a BMW and get the lowest possible price from both online companies and local agents.

Finding the best rates is not that difficult. If you currently have car insurance, you will most likely be able to reduce your rates substantially using these tips. Consumers only need to know the tricks to find the lowest price over the internet.

BMW i3 insurance rates can be determined by these details

Consumers need to have an understanding of the rating factors that come into play when calculating the price you pay for insurance coverage. Having a good understanding of what controls the rates you pay helps enable you to make changes that can help you get better insurance coverage rates.

The list below includes some of the items that factor into your rates.

  • Rural vs Urban Areas – Being located in less populated areas can be a good thing when talking about insurance coverage. Fewer drivers means reduced accidents. Drivers who live in large cities have much more traffic to deal with and longer commutes to work. More time commuting means higher likelihood of an accident.
  • Men fork out a little more – Statistics demonstrate women tend to be less risk to insure than men. Now that doesn’t mean women are BETTER drivers than men. Women and men are in accidents in similar percentages, but the male of the species tend to have more serious accidents. Men also tend to receive more costly citations like DUI and reckless driving.
  • One company can mean more discounts – The majority of insurance coverage companies will award you with lower prices to insureds who buy several policies from them such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. If you currently are using one company, you still need to shop around to confirm you are receiving the best rates possible. Consumers may find better rates by buying insurance coverage from a different company.
  • Equipment add-ons that lower insurance coverage rates – Driving a car with an alarm system can help bring down rates. Anti-theft devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder your vehicle from being stolen.
  • Safer occupants lowers premiums – Safer cars tend to have better insurance rates. The safest vehicles protect occupants better and fewer injuries means less money paid by your insurance company and thus lower rates. If the BMW i3 is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
  • Allowing your policy to lapse raises rates – Driving with no insurance is illegal and as a result your rates will increase for letting your coverage lapse. Not only will rates go up, but being ticketed for driving with no insurance might get you a revoked license or a big fine.
  • Clean credit earns discounts – Having a bad credit score is a important factor in determining your rates. Consumers who have excellent credit tend to be less risk to insure than drivers with poor credit. If your credit rating is low, you could be paying less to insure your 2015 BMW i3 by improving your rating.
  • How your age affects price – Teenage drivers are known to be careless and easily distracted in a vehicle so they pay higher insurance coverage rates. Mature drivers are more cautious drivers, file fewer claims and get fewer tickets.

Don’t pay full price with these discounts

Car insurance companies do not advertise every discount very clearly, so the following is a list of some of the best known and the harder-to-find discounts you could be receiving. If you’re not getting every credit available, you’re just leaving money on the table.

  • Braking Control Discount – Vehicles with anti-lock braking systems prevent accidents and qualify for as much as a 10% discount.
  • Safety Course Discount – Taking a driver safety course could save 5% or more and easily recoup the cost of the course.
  • Distant Student – Any of your kids who attend school more than 100 miles from home and do not have access to a covered vehicle can receive lower rates.
  • Seat Belts Save more than Lives – Drivers who require all occupants to buckle their seat belts can save 10% or more off your medical payments premium.
  • Low Mileage Discounts – Keeping the miles down on your BMW can earn a substantially lower rate.
  • Homeowners Savings – Being a homeowner can help you save on insurance because of the fact that having a home requires personal responsibility.
  • Employee of Federal Government – Employees or retirees of the government can save as much as 8% on i3 insurance with certain companies.
  • E-sign – Certain companies will discount your bill up to fifty bucks just for signing your application over the internet.
  • Save with a New Car – Adding a new car to your policy is cheaper because new vehicles have to meet stringent safety requirements.

It’s important to understand that most discounts do not apply to the overall cost of the policy. Some only apply to specific coverage prices like liability and collision coverage. So when the math indicates you would end up receiving a 100% discount, companies wouldn’t make money that way.

Car insurance companies that may offer some of the above discounts include:

Double check with every prospective company which discounts they offer. Discounts may not be available everywhere.

Your personal situation dictates your coverage

When it comes to buying the right insurance coverage, there is no one size fits all plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that can aid in determining whether you may require specific advice.

  • Is my teen driver covered when they drive my company car?
  • Is pleasure use cheaper than using my 2015 BMW i3 to commute?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Does my car insurance cover rental cars?
  • Is motorclub coverage worth it?
  • Am I covered when pulling a rental trailer?
  • Do I need special endorsements for business use of my vehicle?
  • What is an SR-22 filing?

If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Specific coverages for a BMW i3

Having a good grasp of car insurance can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Comprehensive or Other Than Collision – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as a tree branch falling on your vehicle, hitting a bird, vandalism and fire damage. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Auto liability – Liability insurance can cover injuries or damage you cause to other people or property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.

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

Liability coverage pays for claims such as bail bonds, repair costs for stationary objects and medical expenses. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford.

UM/UIM Coverage – Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your BMW i3.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.

Medical costs insurance – Coverage for medical payments and/or PIP reimburse you for immediate expenses for X-ray expenses, nursing services, chiropractic care, ambulance fees and hospital visits. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Collision – Collision insurance covers damage to your i3 resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims such as crashing into a building, crashing into a ditch, scraping a guard rail and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.

And the best car insurance company is…

In this article, we presented some good ideas how you can reduce 2015 BMW i3 insurance prices online. The key concept to understand is the more you quote, the more likely it is that you will get a better rate. You may even discover the biggest savings come from a small local company.

As you shop your coverage around, make sure you don’t buy less coverage just to save a little money. There are a lot of situations where someone sacrificed physical damage coverage only to discover later that they should have had better coverage. The ultimate goal is to get the best coverage possible for the lowest price, not the least amount of coverage.

Discount insurance is definitely available from both online companies in addition to many insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some companies do not provide the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.

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