2008 BMW 3 Series Insurance Rates – 5 Tips for Best Quotes

I can’t think of a single person who likes paying for auto insurance, especially when they know they are paying too much.

People have many insurers to insure vehicles with, and although it’s a good thing to have a selection, it can be more challenging to find the lowest rates.

Where can I get low cost insurance coverage?

Many insurance companies such as GEICO, State Farm and Progressive allow consumers to get coverage prices from their websites. Comparing rates online can be done by anyone as you simply type in your required coverages into a form. Behind the scenes, their quoting system obtains your driving and credit reports and returns a price determined by many factors. This makes it a lot easier to compare rates but the time it takes to visit a lot of sites and type in the same information is not the best way to spend an afternoon. But it’s very important to do this if you want to find better prices.

The easiest way to get multiple rate quotes is to use a quote form that analyzes rates from a bunch of companies at once. It’s a real time-saver, requires much less work on your part, and makes online shopping much easier to do. Immediately after you send the form, it is rated and you can choose any one of the quotes that you receive.

If one or more price quotes are lower than your current rates, it’s easy to complete the application and buy the new coverage. This process takes just a few minutes to complete and may save quite a bit of money.

To find out how much you’re overpaying now, click here and fill out the form. If you have a policy now, it’s recommended you type in deductibles and limits identical to your current policy. Doing this assures you will have a fair comparison for the exact same coverage.

Insurance discounts help cut rates

The cost of insuring your cars can be expensive, but you can get discounts that can help lower your rates. Certain credits will be shown at the time you complete a quote, but some need to be inquired about before being credited.

  • Home Ownership Discount – Being a homeowner may trigger a policy discount on insurance because it means you have a higher level of financial diligence.
  • Pay Now and Pay Less – By paying your entire bill at once instead of paying each month you can avoid monthly service charges.
  • New Car Discount – Insuring a vehicle that is new is cheaper since new model year vehicles have better safety ratings.
  • Drivers Education – Have your child take driver’s ed class if it’s offered in school.
  • Professional Memberships – Having an affiliation with a professional or civic organization can get you a small discount when shopping for insurance.

As a sidenote, most of the big mark downs will not be given to all coverage premiums. A few only apply to individual premiums such as physical damage coverage or medical payments. Even though the math looks like all those discounts means the company will pay you, nobody gets a free ride. But all discounts will reduce the cost of coverage.

If you would like to see a list of companies that provide some of the discounts listed above, follow this link.

Which is the best insurance?

When it comes to choosing adequate coverage for your vehicles, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. These are some specific questions can help discover whether you would benefit from professional advice.

  • Am I missing any policy discounts?
  • How much liability coverage do I need in my state?
  • Am I covered if hit by an uninsured driver?
  • When can I cancel my policy?
  • Do I need medical payments coverage since I have good health insurance?
  • Will my insurance pay for OEM parts?
  • Who is covered by my policy?
  • Should I drop comprehensive coverage on older vehicles?

If you’re not sure about those questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area.

Advertising and car insurance

Companies like GEICO, State Farm and Progressive seem to constantly run television, radio, and online ads. They all seem to say the same thing about saving some big amount just by switching your coverage to them. That’s great but how can every company cost less than your current company? This is how they do it.

Insurance companies are able to cherry pick for the type of driver that earns them the highest profit. For instance, this type of driver may be a female over age 40, has a clear driving record, and has great credit. Any new insured that meets those criteria gets the lowest premium rates and will save a lot if they switch.

Potential insureds who do not match those criteria will have to pay higher prices and this can result in business going elsewhere. If you pay close attention to the ads, they say “customers that switch” not “all people who quote” save the amount stated. That’s the way companies can make claims that they all have the best auto insurance rates.

This really drives home the point why drivers must compare price quotes frequently. You cannot predict which car insurance company will fit your personal profile best.

Specific coverages for a 2008 BMW 3 Series

Learning about specific coverages of your policy can be of help when determining the best coverages for your vehicles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find the usual coverages found on most car insurance policies.

Comprehensive coverage

This coverage pays to fix your vehicle from 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 coverage pays for claims like fire damage, hail damage, hitting a deer and rock chips in glass. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Coverage for liability

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

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers things such as structural damage, legal defense fees and repair costs for stationary objects. How much liability coverage do you need? That is up to you, but consider buying as high a limit as you can afford.

Collision coverage

Collision coverage pays to fix your vehicle from damage resulting from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like crashing into a ditch, hitting a mailbox, crashing into a building, rolling your car and colliding with a tree. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist coverage

This coverage provides protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your BMW 3 Series.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for X-ray expenses, chiropractic care, nursing services, pain medications and surgery. They are often used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is not available in all states and may carry a deductible

Final thoughts

When shopping online for auto insurance, make sure you don’t buy poor coverage just to save money. Too many times, someone sacrificed full coverage only to find out that the few dollars in savings costed them thousands. The proper strategy is to purchase plenty of coverage at the best possible price but still have enough coverage for asset protection.

In this article, we presented some good ideas how you can shop for 2008 BMW 3 Series insurance online. It’s most important to understand that the more you quote car insurance, the better chance you’ll have of finding the cheapest car insurance. Consumers may even find the lowest rates come from the smaller companies. These smaller insurers often have lower car insurance rates on specific markets compared to the large companies like Allstate or State Farm.

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