1994 BMW 8 Series Car Insurance Quotes – 9 Tricks for Best Rates

Paying low cost prices for insurance can be challenging for drivers not familiar with shopping for insurance online. With more and more online companies, it can easily turn into a ton of work to find more affordable rates.

Shopping for the lowest cost insurance coverage is easy if you know what you’re doing. Just about every vehicle owner who carries insurance coverage will be able to cut their insurance bill. But vehicle owners benefit from understanding how companies sell online.

How to get car insurance rate quotes

To find cheap insurance quotes, there are several ways to get quotes from car insurance companies in your area. The fastest way to find competitive 1994 BMW 8 Series insurance rates is simply to get online rate quotes. It is quite easy and can be accomplished in several different ways.

  1. The recommended way to get quotes is an all-inclusive rate comparison like this one (opens in new window). This method keeps you from doing multiple quote forms for every company. In just a few minutes this one form gets you price quotes instantly. Recommended for those who want to invest the least amount of time.
  2. Another way to get comparison quotes requires a visit to the website for every company you want to comare and request a quote. For example, we’ll pretend you are doing a rate comparison from GEICO, Farmers and American Family. In order to compare rates, you need to navigate to each company’s site and enter your policy data, which can be really labor intensive. For a list of links to companies insuring cars in your area, click here.

However you get your quotes, ensure you are comparing identical quote data with every price quote. If you enter differing limits you will not be able to find the best deal for your BMW 8 Series. Even a minor difference in limits may cause a big price difference. And when comparison shopping, comparing a large number of companies helps improve the odds of finding a better price. Some regional insurers cannot provide rate quotes online, so it’s necessary to compare prices on coverage from those companies, too.

You may qualify for discounts

The price of auto insurance can be rather high, but you may find discounts that can dramatically reduce your bill. Certain discounts will be triggered automatically at quote time, but some must be requested specifically before being credited.

  • Senior Citizens – Older drivers could receive lower premium rates for 8 Series coverage.
  • Theft Deterent – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
  • Telematics Discount – Insureds who allow their insurance company to scrutinize driving manner remotely such as State Farm’s In-Drive may see discounts if they have good driving habits.
  • Smart Student Discounts – This discount can save 20 to 25%. Earning this discount can benefit you up to age 25.
  • ABS and Traction Control Discounts – Cars equipped with ABS or steering control can stop better under adverse conditions and will save you 10% or more.
  • No Claim Discounts – Drivers who stay claim-free have much lower rates in comparison with drivers who are more careless.
  • Multiple Policy Discount – If you can bundle your auto and home insurance with the same company you could save approximately 10% to 15%.
  • Discount for New Cars – Putting insurance coverage on a new car is cheaper since new vehicles are generally safer.
  • Homeowners Savings – Owning a house can get you a discount due to the fact that maintaining a home is proof that your finances are in order.

Discounts lower rates, but most of the big mark downs will not be given to your bottom line cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, it just doesn’t work that way.

A few of the larger companies and some of their more popular discounts are outlined below.

  • State Farm discounts include good student, defensive driving training, driver’s education, accident-free, and student away at school.
  • American Family has savings for bundled insurance, good driver, good student, accident-free, mySafetyValet, air bags, and Steer into Savings.
  • GEICO may include discounts for good student, driver training, multi-vehicle, anti-lock brakes, and emergency military deployment.
  • 21st Century may have discounts that include defensive driver, good student, driver training, air bags, anti-lock brakes, and homeowners.
  • Progressive offers premium reductions for homeowner, online quote discount, continuous coverage, good student, online signing, multi-policy, and multi-vehicle.

Check with all companies you are considering what discounts are available to you. All car insurance discounts may not apply to policies in every state. To see companies that offer the discounts shown above, follow this link.

There’s no such thing as the perfect insurance policy

When it comes to buying coverage for your vehicles, there really is no “best” method to buy coverage. Every situation is different.

These are some specific questions could help you determine whether your personal situation might need professional guidance.

  • Are rock chip repairs covered?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Does my personal policy cover me when driving out-of-state?
  • Can I still get insurance after a DUI?
  • Do I have any recourse if my insurance company denies a claim?
  • Can I get a multi-policy discount?
  • What is the minimum liability in my state?
  • How can I find cheaper teen driver insurance?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form.

Car insurance coverages and their meanings

Having a good grasp of a car insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Liability coverages

This protects you from damage that occurs to a person or their property. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Another option is a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against things like legal defense fees, loss of income, bail bonds and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive coverage (or Other than Collision)

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as damage from a tornado or hurricane, rock chips in glass, fire damage, falling objects and theft. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Auto collision coverage

This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as colliding with a tree, crashing into a building, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to bring the cost down.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your 1994 BMW 8 Series.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Normally the UM/UIM limits are set the same as your liablity limits.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance pay for immediate expenses like rehabilitation expenses, nursing services and doctor visits. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. 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. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

A little work can save a LOT of money

Cheaper insurance is possible online and from local agencies, and you should be comparing both to have the best selection. There are still a few companies who may not provide internet price quotes and usually these small insurance companies only sell through local independent agents.

We just covered some good ideas how you can reduce 1994 BMW 8 Series insurance prices online. The most important thing to understand is the more you quote insurance, the more likely it is that you will get a better rate. Consumers could even find that the lowest prices come from a smaller regional carrier.

As you go through the steps to switch your coverage, never buy less coverage just to save a little money. In too many instances, someone sacrificed comprehensive coverage or liability limits only to regret at claim time that they should have had better coverage. Your aim should be to buy enough coverage at the best price.

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