Lower Your 2017 BMW i3 Insurance Rates

Looking for better auto insurance rates for your BMW i3? High-priced auto insurance can sap your family’s budget and force you to tighten up your finances. Doing a rate comparison is recommended to ensure you are getting the best deal.

Vehicle owners have so many car insurance companies to pick from, and although it’s nice to have a choice, it makes it harder to find a good deal.

Do you qualify for discount insurance coverage?

Companies that sell car insurance do not advertise their entire list of discounts very well, so the following list contains some of the best known and also the more inconspicuous credits that may apply to you.

  • Theft Prevention System – Cars, trucks, and SUVs with anti-theft systems are less likely to be stolen and will qualify for a discount on a insurance coverage quote.
  • Save with a New Car – Putting coverage on a new car can save you some money compared to insuring an older model.
  • Low Mileage – Fewer annual miles on your BMW may enable drivers to earn lower prices due to less chance of an accident.
  • No Claims – Drivers who don’t have accidents can save substantially in comparison with drivers who are more careless.
  • Safety Course Discount – Taking part in a course teaching driver safety skills is a good idea and can lower rates if your company offers it.
  • Air Bag Discount – Cars that have air bags can receive discounts of 25 to 30%.

Discounts lower rates, but many deductions do not apply the the whole policy. Most only apply to individual premiums such as collision or personal injury protection. So when the math indicates having all the discounts means you get insurance for free, you aren’t that lucky.

A list of insurance coverage companies and the discounts they provide are included below.

  • Geico offers discounts including driver training, defensive driver, federal employee, good student, membership and employees, multi-policy, and air bags.
  • USAA offers premium reductions for loyalty savings, annual mileage, safe driver, good student, vehicle storage, multi-vehicle, and new vehicle.
  • Progressive may have discounts that include multi-vehicle, good student, homeowner, online quote discount, continuous coverage, multi-policy, and online signing.
  • American Family discounts include bundled insurance, multi-vehicle, Steer into Savings, good driver, mySafetyValet, good student, and early bird.
  • Esurance policyholders can earn discounts including paid-in-full, anti-theft, DriveSense, claim free, homeowner, and emergency road assistance.
  • Farmers Insurance has discounts for pay in full, distant student, business and professional, mature driver, and youthful driver.
  • State Farm may include discounts for multiple policy, accident-free, defensive driving training, good student, Steer Clear safe driver discount, and good driver.

If you want the cheapest insurance coverage quotes, ask each insurance company which discounts they offer. Some of the discounts discussed earlier may not apply in your area. To see providers who offer online insurance coverage quotes, follow this link.

How to compare insurance rate quotes

All major insurance companies give coverage price quotes on the web. Doing online price comparisons can be done by anyone as you simply enter your coverage preferences as detailed in the form. Once entered, their quoting system makes automated requests for your driving record and credit report and returns a price quote determined by many factors. Being able to quote online helps simplify price comparisons, but the time it takes to visit each company’s website and repetitively fill out multiple forms is monotonous and tiresome. But it’s necessary to get many rate quotes in order to find better insurance pricing.

Isn’t there an easier way to compare rates?

The quickest way to get multiple rate quotes uses just one form to return rates from more than one company. It’s a real time-saver, eliminates repetitive work, and makes online quotes much easier to do. As soon as the form is sent, it is quoted with multiple companies and you can pick your choice of the price quotes you receive.

If you find a better price it’s easy to complete the application and buy the new coverage. This process takes 15 minutes at the most and may save quite a bit of money.

To save time and find out how much you can save on insurance, click here to open in new window and begin entering your coverage information. If you have coverage now, it’s recommended you replicate the coverage information as close as possible to your current policy. This ensures you are getting rate quotes for similar coverage.

Insurance premium influencing factors

Many factors are part of the calculation when pricing auto insurance. Some of the criteria are obvious such as traffic violations, although others are more obscure like where you live or how safe your car is.

Shown below are some of the factors car insurance companies consider when setting premiums.

  • Raise coverage deductibles and save – Insurance for physical damage, aka comp and collision, covers damage that occurs to your BMW. A few examples of covered claims could be collision with another vehicle, hitting a deer, and burglary. Physical damage deductibles define the amount you are required to spend before your car insurance pays a claim. The higher the amount you are required to pay out-of-pocket, the less your company will charge you for insurance on i3 insurance.
  • Don’t cancel your car insurance without a new one in place – Not having insurance is against the law and companies may charge more for letting your insurance expire. In addition to paying higher premiums, the inability to provide proof of insurance will get you a hefty fine and possibly a revoked license.
  • Cut prices and deter theft – Choosing a vehicle with a theft deterrent system can help bring down rates. Systems that thwart theives such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent car theft and help bring rates down.
  • Don’t buy incidental coverages you don’t need – Policies have additional extra coverages that can add up when buying car insurance. Add-on coverages like roadside assistance, death and dismemberment, and extra equipment coverage may not be needed and are just wasting money. You may think they are a good idea when talking to your agent, but if they’re wasting money think about removing them and cutting costs.
  • Are you male or female? – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that females are better drivers. Men and women are responsible for at-fault accidents in similar percentages, but the men have costlier accidents. Men also get higher numbers of serious violations like reckless driving and DUI. Males from age 16 to 21 have the highest risk to insure and therefore pay the highest rates.
  • Younger drivers pay more – Teen drivers have been known to be inattentive and easily distracted with other occupants in the car so they pay higher car insurance rates. Older people tend to be more responsible, cost insurance companies less in claims and get fewer tickets.
  • Liability insurance limits should be high – A critical coverage on your policy, liability insurance is the coverage that protects you in the event that you are responsible for personal injury or accident damage. Liability insurance provides you with a defense in court which can cost thousands of dollars. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.
  • Combine policies with the same company – Most car insurance companies provide better rates to people who buy several policies from them, otherwise known as a multi-policy discount. Even if you already get this discount, it’s still a good idea to comparison shop to make sure you are getting the best deal.

What insurance coverages do I need?

When it comes to choosing coverage, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For instance, these questions might point out whether or not you could use an agent’s help.

  • What are the financial responsibility laws in my state?
  • When would I need additional glass coverage?
  • How many claims can I have before being cancelled?
  • Will my rates increase for filing one claim?
  • Do I need PIP coverage since I have good health insurance?
  • Is my 2017 BMW i3 covered for smoke damage?
  • What if I owe more than I can insure my car for?
  • Do I need rental car coverage?
  • How do I buy GAP insurance?
  • Do I pay less for low miles?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier It only takes a few minutes and you can get the answers you need.

Well known brands might not be cheapest

Consumers can’t escape the ads that claim the cheapest rates by State Farm, Geico and Progressive. All the companies seem to make the promise of big savings if you move your policy.

How does every company charge you a lower premium?

All companies quote their cheapest rates for the type of customer that earns them the most money. An example of a preferred risk should be over the age of 45, has no claims, and does not commute to work. Any new insured who fits those characteristics is entitled to the best price and as a result will probably save a lot if they switch.

Potential insureds who do not meet this ideal profile will get higher rates which usually ends up with the prospect going elsewhere. The trick companies use is to say “people who switch” but not “all drivers who get quotes” save money. That is how insurance companies can advertise the way they do.

This emphasizes why you really need to compare free insurance coverage quotes often. It is just not possible to predict which car insurance company will have the lowest rates.

Specific coverage details

Understanding the coverages of insurance helps when choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. These are the normal coverages found on most insurance policies.

Collision coverage protection

This coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like driving through your garage door, sideswiping another vehicle and hitting a parking meter. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually the UM/UIM limits are similar to your liability insurance amounts.

Comprehensive coverage

Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as rock chips in glass, theft and hitting a deer. The maximum amount your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical payments coverage and PIP

Med pay and PIP coverage provide coverage for bills for things like surgery, prosthetic devices, X-ray expenses, EMT expenses and dental work. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover you and your occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage

Liability insurance

Liability insurance can cover damage or injury you incur to a person or their property in an accident. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 which stand for $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability insurance covers things like medical services, attorney fees, medical expenses and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible.

Find Good Coverage for Less

Affordable 2017 BMW i3 insurance is possible online as well as from insurance agents, and you should compare price quotes from both to have the best selection. Some insurance providers may not have rate quotes online and most of the time these regional carriers only sell coverage through independent insurance agents.

When buying insurance coverage, it’s very important that you do not reduce needed coverages to save money. There are too many instances where an accident victim reduced collision coverage only to find out that it was a big mistake. Your aim should be to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.

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