Lower Your 2001 BMW 3 Series Insurance Quotes

Are you regretting the purchase of an underperforming, overpriced auto insurance policy? Don’t sweat it because many drivers feel the same as you. Multiple insurance companies compete for your hard-earned dollar, so it’s not easy to compare every insurance company and uncover the absolute lowest cost out there.

You need to compare premium rates on a regular basis because prices are usually higher with each renewal. Just because you found the best rates on 3 Series coverage six months ago there may be better deals available now. There is a lot of wrong information about auto insurance on the internet, but in this article, you’re going to get some proven techniques to find affordable auto insurance.

Compare free auto insurance quotes

Cutting your auto insurance rates can be relatively painless. You just have to invest a little time comparing rates to find. It’s super easy and can be done in just a few minutes using one of these methods.

  • If you don’t have a lot of time, the easiest way to find the lowest comparison rates is an all-inclusive rate comparison (click to open form in new window). This method saves time by eliminating multiple quote forms for each company you want a rate for. Filling out one form will get you price quotes instantly.
  • A different way to compare rate quotes is going to each company’s website and complete a new quote form. For sake of this example, we’ll assume you want to compare prices for USAA, Farmers and American Family. To do that, you would have to spend time going to each site individually to enter your coverage information, which is why most consumers use the first method.

    For a list of links to companies insuring cars in your area, click here.

  • The last way to shop rates is actually driving to insurance agencies in your area. Comparing rates online has reduced the need for local agents unless you have a complicated situation and need the personal advice of a local agency. Although you can price shop your coverage online but buy the policy through an agent.

You can use whichever method you prefer to find lower rates, just do your best to use the exact same coverages on every price quote you get. If your comparisons have different deductibles you will not be able to determine which company has the best rates.

Cheaper auto insurance quotes with discounts

The cost of insuring your cars can be expensive, but you may qualify for discounts that could help you make your next renewal payment. Most are applied when you complete an application, but some may not be applied and must be inquired about before being credited.

  • Theft Deterent System – Cars equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen so companies will give you a small discount.
  • Buy New and Save – Buying a new car instead of a used car can cost up to 25% less due to better safety requirements for new model year vehicles.
  • Discount for Passive Restraints – Factory air bags may get savings of 25 to 30%.
  • Resident Student – Kids who are enrolled in a college that is more than 100 miles from home and do not have a car can be insured at a reduced rate.
  • Low Mileage Discounts – Low annual miles can earn discounted auto insurancerates on garaged vehicles.
  • Home Ownership Discount – Just owning your own home may trigger a policy discount on auto insurance since home ownership is proof that your finances are in order.
  • Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to buckle up before driving can save a little on the medical payments or PIP coverage costs.
  • Accident Waiver – This one is not really a discount per se, but a few companies such as GEICO, State Farm, and Progressive will let one accident slide before your rates go up if you are claim-free for a particular time prior to the accident.
  • Good Student Discount – Excelling in school can be rewarded with saving of up to 25%. Many companies even apply the discount to college students well after school through age 25.

It’s important to understand that some of the credits will not apply to the entire cost. A few only apply to individual premiums such as physical damage coverage or medical payments. Even though the math looks like you could get a free auto insurance policy, that’s just not realistic.

To see a list of companies offering auto insurance discounts, click here.

How your 3 Series insurance prices are determined

Lots of things are used in the calculation when premium rates are determined. Some are obvious such as your driving history, although some other factors are less apparent like where you live or your commute time.When buying car insurance it’s important to understand a few of the rating criteria that aid in calculating the price you pay for car insurance. When consumers understand what controls the rates you pay, this enables you to make decisions that can help you get lower car insurance prices.

  • Do you have a stressful employer? – Did you know your occupation can influence how much you pay for car insurance? Occupations such as real estate brokersair traffic controllers and medical professionals are shown to have higher premium rates due to intense work requirements and incredibly demanding work hours. Other professions such as professors, athletes and performers have the lowest average rates on 3 Series coverage.
  • Urban residents pay more – Having an address in a small town may provide you with better prices when insuring your vehicles. Fewer drivers and short commutes means fewer accidents and lower theft and vandalism rates. People who live in big cities tend to have more auto accidents and much longer commute distances. More time on the road can result in more accidents.
  • Gals tend to be lower risk – Over the last 30 years, statistics show that females tend to be a little less risky than males. However, don’t assume that women are BETTER drivers than men. Women and men are in fender benders in similar numbers, but males get into accidents with more damage. In addition to higher claims, males also get ticketed for serious violations such as DWI and reckless driving.
  • Too many car insurance claims and you’ll pay more – Car insurance companies award the best rates to drivers who are not frequent claim filers. If you tend to file frequent claims, you can expect higher rates. Insurance coverage is intended for the bigger claims that can’t be paid out-of-pocket.

Tailor your car insurance coverage to you

When it comes to choosing coverage for your vehicles, there really is not a “perfect” insurance plan. Everyone’s situation is unique so your insurance needs to address that. These are some specific questions can help discover whether your personal situation could use an agent’s help.

  • Are rock chip repairs covered?
  • Am I covered when driving a rental car?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Do I need an umbrella policy?
  • When can my company non-renew my policy?
  • Does my insurance cover my expensive audio equipment?
  • Does my policy cover me when driving someone else’s vehicle?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.

Car insurance coverages for a BMW 3 Series

Learning about specific coverages of a insurance policy helps when choosing which coverages you need for your vehicles. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Listed below are typical coverages available from insurance companies.

Coverage for collisions

Collision coverage will pay to fix damage to your 3 Series from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like colliding with a tree, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses such as funeral costs, rehabilitation expenses and doctor visits. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

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. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive (Other than Collision)

This coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like vandalism, damage from getting keyed and fire damage. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Liability auto insurance

This can cover damages or injuries you inflict on other people or property. This insurance protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability insurance covers things like loss of income, bail bonds, court costs and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Shop smart and save

Cheaper car insurance is definitely available both online as well as from insurance agents, and you should compare rates from both to have the best chance of lowering rates. Some car insurance companies may not offer price quotes online and usually these smaller companies only sell through local independent agents.

We’ve covered a lot of information how to compare 2001 BMW 3 Series insurance prices online. The key concept to understand is the more companies you get rates for, the higher your chance of finding affordable insurance. You may even find the lowest prices come from a small local company. They may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.

As you shop your coverage around, do not sacrifice coverage to reduce premiums. In too many instances, an insured cut uninsured motorist or liability limits and learned later that the savings was not a smart move. The proper strategy is to find the BEST coverage at a price you can afford while not skimping on critical coverages.

More learning opportunities