1998 BMW 3 Series Insurance Cost

Drivers have a choice when trying to find the lowest priced BMW 3 Series insurance. They can either spend hours contacting agents to get rate comparisons or use the internet to make rate comparisons. There are both good and bad ways to compare insurance coverage rates and you need to know the quickest way to price shop coverage for a new or used BMW and find the lowest price either online or from local insurance agents.

Consumers should take time to compare prices on a regular basis because prices change regularly. If you had the best deal on 3 Series insurance a year ago the chances are good that you can find a lower rate quote today. Forget all the misinformation about insurance coverage because you’re about to learn the best methods to save money, get proper coverage and the best rates.

Free insurance quotes

There are a lot of ways to compare insurance quotes, and some are less time-consuming than others. You could waste a few hours talking about coverages with agents in your area, or you could save time and use the web for quick rates.

Many insurance companies belong to a marketplace that enables customers to enter their coverage request one time, and at least one company can give them a price for coverage. This prevents consumers from doing quotation requests to each company.

To submit your quote information now, click here to open in new window.

The one disadvantage to using this type of form is you don’t know exactly which companies you want to price. So if you want to choose specific insurance companies to compare, we have assembled a list of companies who write insurance in your area. View list of insurance companies.

Compare rates however you want, just do your best to use exactly the same quote data for every quote you compare. If you have different values for each quote it will be nearly impossible to get a fair rate comparison.

Discounts to earn cheaper insurance rates

Auto insurance companies do not list every discount they offer very well, so the list below details both well-publicized and also the more inconspicuous discounts that you can inquire about if you buy insurance online.

  • Senior Citizen Rates – Mature drivers can get lower premium rates on 3 Series insurance.
  • Military Rewards – Having a family member in the military could trigger a small discount.
  • Government Employee Discount – Being employed by or retired from a federal job could provide a small rate reduction on 3 Series insurance with select insurance companies.
  • Accident Forgiveness – Not really a discount, but some companies like Progressive, Allstate, and Liberty Mutual will let one accident slide before they charge you more for coverage as long as you don’t have any claims for a specific time period.
  • Renewal Discounts – A few insurance companies give discounts for renewing your policy before your current coverage expires. Ten percent is about the average savings.

It’s important to note that most credits do not apply to your bottom line cost. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Despite the appearance that having all the discounts means you get insurance for free, companies don’t profit that way.

Larger insurance companies and a partial list of their discounts can be found below.

  • State Farm includes discounts for multiple autos, driver’s education, passive restraint, accident-free, multiple policy, good driver, and Steer Clear safe driver discount.
  • GEICO may include discounts for military active duty, multi-vehicle, multi-policy, air bags, federal employee, emergency military deployment, and five-year accident-free.
  • Progressive has discounts for good student, continuous coverage, multi-policy, multi-vehicle, online signing, and online quote discount.
  • 21st Century offers discounts for homeowners, theft prevention, air bags, student driver, good student, teen driver, and anti-lock brakes.
  • American Family policyholders can earn discounts including defensive driver, air bags, good student, good driver, and Steer into Savings.
  • The Hartford offers premium reductions for air bag, vehicle fuel type, driver training, anti-theft, good student, defensive driver, and bundle.
  • AAA has savings for education and occupation, multi-policy, anti-theft, multi-car, and good student.

When quoting, ask every insurance company which discounts you may be entitled to. Some discounts may not be available in your area. If you would like to view providers who offer free insurance quotes, follow this link.

Informed consumers can reduce their insurance rates

Many different elements are used when you get a price on insurance. Most are fairly basic such as traffic violations, but others are not as apparent such as whether you are married and annual miles driven.

  • Liability protection limits on your policy – A critical coverage on your policy, liability insurance is the protection when you are responsible for physical damage or personal injury to other. It provides legal defense which can cost a lot. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not skimp.
  • Insure your auto and home with one company – The majority of companies allow lower prices for people that have more than one policy. It’s known as a multi-policy discount. Discounts can amount to anywhere from five to ten percent in most cases. Even if you already get this discount, it’s still a good idea to get quotes from other companies to ensure the best deal.
  • Vehicles with better crash test results save money – Vehicles that have high safety ratings tend to be cheaper to insure. Vehicles engineered for safety result in less severe injuries and lower injury rates means lower claim amounts and cheaper rates on your policy.
  • Do you really need the incidental coverages? – Insurance policies have a lot of add-on coverages that can waste your money on your 3 Series policy. Coverages for personal injury protection, better glass coverage, and motor club memberships are some examples. They may seem good when talking to your agent, but if they’re wasting money get rid of them and save.
  • Drive less and save – Driving a lot of miles in a year’s time the more you will pay for insurance coverage. A lot of insurance companies charge rates based on their usage. Cars that are left in the garage receive better premium rates compared to those used for work or business. Having the wrong rating on your 3 Series can result in significantly higher rates. Verify your insurance coverage policy reflects annual mileage, because it can save money.
  • Better rates with anti-theft devices – Selecting a car model with advanced anti-theft systems can help bring down rates. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping auto theft.

Tailor your insurance coverage coverage to you

When it comes to choosing proper insurance coverage, there really is not a cookie cutter policy. Every insured’s situation is different.

For instance, these questions could help you determine if you could use an agent’s help.

  • Should I buy more coverage than the required minimum liability coverage?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Why is insurance for a teen driver so high?
  • Are rock chip repairs covered?
  • Is my babysitter covered when using my vehicle?
  • Am I covered if I wreck a rental car?
  • How do I buy GAP insurance?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to an agent. If you don’t have a local agent, simply complete this short form. It’s fast, doesn’t cost anything and you can get the answers you need.

Auto insurance 101

Knowing the specifics of insurance can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.

Liability auto insurance

Liability insurance provides protection from injuries or damage you cause to other’s property or people. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 100/300/100 that means you have a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for things such as emergency aid, legal defense fees and funeral expenses. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family and damage to your BMW 3 Series.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage pay for expenses for things like surgery, funeral costs, rehabilitation expenses and dental work. They can be used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay

Comprehensive insurance

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from flooding, fire damage and hitting a deer. The highest amount your insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for collisions

Collision insurance covers damage to your 3 Series from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as backing into a parked car, crashing into a ditch and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. It’s also possible to raise the deductible in order to get cheaper collision rates.

Save your cold hard cash

Drivers change insurance companies for a variety of reasons including questionable increases in premium, an unsatisfactory settlement offer, denial of a claim and even not issuing a premium refund. Whatever your reason, switching companies is not as hard as you think.

We’ve covered many tips how you can get a better price on 1998 BMW 3 Series insurance. The key concept to understand is the more price quotes you have, the better likelihood of getting inexpensive insurance. You may even find the lowest premium rates are with the least-expected company.

As you prepare to switch companies, do not skimp on coverage in order to save money. In many instances, an insured dropped liability coverage limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase plenty of coverage for the lowest price, but do not sacrifice coverage to save money.

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