1991 BMW 7 Series Car Insurance Cost – 7 Tips to Save

Are you at wits end from wondering where the money will come from to pay high car insurance rates every month? You are in the same boat as many other consumers. Since vehicle owners have many insurance providers from which to choose, it can be diffult for drivers to pick a lower cost insurer.

This information will help educate you on how to effectively get price quotes and some tips to save money. If you currently have car insurance, you will be able to save some money using this information. Vehicle owners just need to understand the best way to get comparison rates online.

Drivers save money with these seven money-saving discounts

Insurance is expensive, but you might find some hidden discounts to help offset the cost. Larger premium reductions will be automatically applied when you quote, but less common discounts must be specifically requested in order for you to get them. If you do not check that you are getting every discount you qualify for, you could be saving more on your insurance.

  • Defensive Driver – Taking a safe driver course could earn you a small percentage discount if your company offers it.
  • Accident Waiver – Not a discount per se, but companies like Allstate and Progressive may permit one accident before hitting you with a surcharge if you have no claims for a specific time period.
  • Student in College – College-age children who attend college more than 100 miles from home and do not have access to a covered vehicle may qualify for this discount.
  • Bundle and Save – If you insure your home and vehicles with one company they may give you a discount of nearly 15% which can help you find the cheapest auto insurance.
  • No Claims – Insureds with no claims or accidents pay much less when compared to bad drivers.
  • Payment Method – If you can afford to pay the entire bill rather than spreading payments over time you may reduce your total bill.
  • Sign Online – Many companies may give you up to $50 for signing up on the web.

It’s important to understand that most discounts do not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So even though it sounds like it’s possible to get free car insurance, insurance companies aren’t that generous.

A list of companies and some of their more popular discounts are included below.

  • Progressive has discounts for online signing, multi-vehicle, continuous coverage, homeowner, good student, and multi-policy.
  • MetLife policyholders can earn discounts including multi-policy, claim-free, accident-free, good driver, good student, defensive driver
  • Mercury Insurance may include discounts for accident-free, age of vehicle, low natural disaster claims, location of vehicle, and good driver.
  • Nationwide may offer discounts for Farm Bureau membership, good student, business or organization, family plan, multi-policy, and defensive driving.
  • GEICO offers discounts for membership and employees, driver training, multi-policy, daytime running lights, and emergency military deployment.
  • AAA includes discounts for good student, multi-policy, anti-theft, AAA membership discount, and good driver.

When comparing rates, check with every insurance company to apply every possible discount. All car insurance discounts may not apply to policyholders in your area.

Auto insurance quotes comparison

There are a lot of ways you can shop for auto insurance but there is one way that is less time-consuming than others. You can waste hours talking to local insurance agents in your area, or you could save time and use online quotes to get the quickest rates.

Most car insurance companies belong to an insurance system that allows shoppers to send in one quote, and each company can give them a price determined by their information. This saves time by eliminating quotation requests for each company. To participate in this free quote system, click to open in new window.

The only downside to pricing coverage this way is that consumers can’t choose which carriers to get quotes from. So if you prefer to choose specific providers to compare prices, we have a listing of companies who write auto insurance in your area. Click to view list.

However you get your quotes, try to use identical quote information on every quote you get. If you enter different coverage information it will be impossible to decipher which rate is best.

Do I need special coverages?

When it comes to buying the right insurance coverage for your personal vehicles, there is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For example, these questions could help you determine if your situation might need professional guidance.

  • Should I buy full coverage?
  • When would I need rental car insurance?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Do I need roadside assistance coverage?
  • Am I insured when driving a different vehicle?
  • When should I not file a claim?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. To find an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area. It only takes a few minutes and may give you better protection.

Auto insurance coverages explained

Knowing the specifics of your auto insurance policy aids in choosing appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are typical coverages available from auto insurance companies.

Liability coverages

Liability coverage can cover damage that occurs to other’s property or people that is your fault. It protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Another option is a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for claims such as structural damage, legal defense fees, medical expenses and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your BMW 7 Series.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Coverage for collisions

This pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as sideswiping another vehicle, backing into a parked car, rolling your car and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Comprehensive insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hitting a deer, a broken windshield, falling objects, damage from getting keyed and fire damage. The maximum payout your auto insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses like nursing services, chiropractic care, prosthetic devices, doctor visits and dental work. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

You can do this!

We covered many tips how you can lower your 1991 BMW 7 Series insurance rates. The key concept to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the lowest rates are with an unexpected company. These smaller insurers can often provide lower auto insurance rates in certain areas than their larger competitors like Progressive and GEICO.

As you quote auto insurance, it’s very important that you do not reduce coverage to reduce premium. There have been many cases where consumers will sacrifice uninsured motorist or liability limits and learned later they didn’t have enough coverage. Your strategy should be to get the best coverage possible at an affordable rate while still protecting your assets.

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