2012 BMW 7 Series Insurance Rates

Searching for cheaper car insurance rates for your BMW 7 Series? No car owner looks forward to paying premiums for car insurance, in particular when they could lower their rates if they shopped around.

Since you have so many options, it’s nearly impossible to locate the right insurance company.

The purpose of this article is to tell you how to get online quotes and some money-saving tips. If you currently have car insurance, you will be able to save some money using this information. Although vehicle owners should learn how the larger insurance companies market insurance on the web and use this information to your advantage.

How insurance providers determine BMW 7 Series insurance prices

Many things are taken into consideration when premium rates are determined. Some are pretty understandable such as your driving record, although others are more obscure like your continuous coverage or your financial responsibility.

The following are a few of the things insurance coverage companies consider when setting rates.

  • Lower rates with continuous insurance coverage coverage – Driving without insurance is a misdemeanor and your next policy will cost more because you let your coverage have a gap. And not only will your rates increase, not being able to provide proof of insurance might get you a steep fine or even jail time. You could then be forced to provide proof of insurance in the form of an SR-22 filing with your state department of motor vehicles.
  • Poor credit history equals high rates – Your credit rating is a big factor in determining premium rates. Insureds with excellent credit tend to be better drivers and file fewer claims than drivers with poor credit scores. If your credit score could use some work, you could save money insuring your 2012 BMW 7 Series by repairing your credit.
  • Bundle and save – Most insurers give discounts to policyholders that have more than one policy such as combining an auto and homeowners policy. The discount can be ten percent or more. Even with this discount applied, it’s still a good idea to shop around to make sure you are getting the best deal. It’s possible to still find better rates by splitting coverages up.
  • Increase deductibles and save – Insurance for physical damage, also known as collision and other-than-collision, covers your vehicle from damage. Some instances where coverage would apply are colliding with a building, flood damage, and windstorm damage. Deductibles for physical damage are how much you are required to spend if the claim is covered. The larger the amount you are required to pay out-of-pocket, the lower your rates will be for 7 Series coverage.
  • Rental and towing coverage may not be needed – There are many additional extra coverages that you can buy when buying insurance coverage. Coverages for rental car coverage, better glass coverage, and term life insurance may be costing you every month. You may think they are a good idea when you first buy your policy, but if you don’t need them get rid of them and save.
  • Married people drive safer – Having a spouse can get you a discount when buying insurance coverage. Marriage demonstrates that you tend to be more mature it has been statistically shown that married drivers tend to file fewer claims.
  • Buy as much liability protection as you can afford – The liability coverage on your policy kicks in in the event that a jury decides you are liable for causing damage or personal injury in an accident. It provides you with a defense in court up to the limits shown on your policy. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so do not cut corners here.
  • More stress means more cost – Did you know that where you work can have an impact on rates? Careers like fire fighterspolice officers and dentists generally pay higher rates than the rest of us in part from stressful work requirements and lots of time spent away from family. Other occupations such as scientists, athletes and performers receive lower rates for 7 Series coverage.

Cheap insurance rate quotes online

To find low cost rates, there are a couple of ways to compare quotes from many available insurance companies in your state. The easiest way by far to lower the rate you pay for 2012 BMW 7 Series insurance is to use the internet to compare rates. This can be accomplished in several different ways.

  • The fastest way to find low rates is to use a rate comparison form like this one (opens in new window). This style of form eliminates the need for a different quote for every insurance company. Taking the time to complete one form will get you price quotes from multiple low-cost companies.
  • A less efficient way to get quotes online is spending the time to visit each company’s website and go through the quote process again. For examples sake, let’s assume you want to compare prices for State Farm, Progressive and Farmers. To do that, you would have to go to each individual site and enter your information, which is why most consumers use the first method. To view a list of companies in your area, click here.

The method you choose is up to you, but try to keep the same quote data with each company. If you enter different deductibles you can’t possibly determine which company has the best rates. Quoting even small variations in coverages can result in a big premium difference. Just remember that having more price comparisons will increase your chances of finding the best offered rates.

Can switching companies really save?

Big name companies like State Farm, Allstate and GEICO consistently run ads on TV and radio. All the companies convey the message about how much you will save after switching your auto insurance coverage to their company. It sounds good, but how can they all make the same claim? This is the way they can do it.

Most companies have specific characteristics for a prospective insured that will be a good risk. For example, this type of risk profile might be over the age of 35, has never had a claim, and has a short commute. A customer getting a price quote that matches those criteria will qualify for the lowest premium rates and will save when switching.

People who do not fit the “perfect” profile will probably have to pay a more expensive rate and this results in the driver buying from a lower-cost company. The ads state “drivers who switch” not “everybody who quotes” save money. That’s the way companies can truthfully make the claims of big savings.

This illustrates why it is so important to compare as many free insurance coverage quotes as you can. Because you cannot predict with any certainty which company will fit you best based on your risk profile.

Car insurance discounts help slash rates

Properly insuring your vehicles can get expensive, but there could be significant discounts that you may not even be aware of. Certain discounts will be applied at quote time, but lesser-known reductions have to be requested specifically prior to getting the savings.

  • Multi-line Discount – Larger car insurance companies have a discounted premium rate on car insurance if you buy a life insurance policy as well.
  • Paper-free Discount – A handful of companies will discount your bill up to fifty bucks get insurance coverage on their website.
  • Auto/Home Discount – If you combine your home and auto policies and place coverage with the same company you may earn nearly 15% which can help you find affordable insurance coverage.
  • Federal Employees – Employees or retirees of the government may reduce rates when you quote insurance coverage for 7 Series coverage with select insurance companies.
  • Save with More Vehicles Insured – Having all your vehicles with the same company may reduce the rate for each vehicle.
  • Theft Deterent – Cars and trucks equipped with tracking devices and advanced anti-theft systems can help prevent theft and therefore earn up to a 10% discount.

Please keep in mind that some credits don’t apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as medical payments or collision. Despite the fact that it seems like all the discounts add up to a free policy, it just doesn’t work that way.

Larger car insurance companies and the discounts they provide are shown below.

  • GEICO discounts include emergency military deployment, air bags, multi-policy, military active duty, and seat belt use.
  • MetLife may offer discounts for claim-free, multi-policy, defensive driver, good student, and good driver.
  • Progressive has savings for multi-policy, good student, homeowner, online quote discount, online signing, multi-vehicle, and continuous coverage.
  • Travelers has discounts for new car, IntelliDrive, payment discounts, driver training, continuous insurance, and student away at school.
  • SAFECO includes discounts for safe driver, homeowner, bundle discounts, accident prevention training, teen safe driver, and drive less.
  • AAA may include discounts for good driver, multi-car, good student, education and occupation, anti-theft, multi-policy, and pay-in-full.

Double check with all the companies how you can save money. Some credits may not be offered in your area. To find insurance companies that offer many of these discounts, click here to view.

Which is the best auto insurance?

When it comes to choosing adequate coverage for your personal vehicles, there really is no one size fits all plan. Your needs are not the same as everyone else’s so your insurance needs to address that. For example, these questions can aid in determining if you might need an agent’s assistance.

  • I don’t drive much so do I pay less?
  • What vehicles should carry emergency assistance coverage?
  • Can I afford to pay high deductible claims out of pocket?
  • Should I buy additional glass protection?
  • What is the rate difference between pleasure use and commuting?
  • Am I covered when pulling a rental trailer?
  • Is borrowed equipment or tools covered if stolen or damaged?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with 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 auto insurance companies in your area.

What insurance coverages do you need?

Knowing the specifics of your insurance policy helps when choosing the best coverages and proper limits and deductibles. Insurance terms can be confusing and even agents have difficulty translating policy wording. Below you’ll find the normal coverages found on the average insurance policy.

Collision insurance

Collision coverage covers damage to your 7 Series caused by collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things like hitting a parking meter, crashing into a building and rolling your car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Medical costs insurance

Med pay and PIP coverage kick in for bills such as doctor visits, EMT expenses and prosthetic devices. The coverages can be utilized in addition to your health insurance program or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Liability insurance

This coverage provides protection from injuries or damage you cause to people or other property. This coverage protects you against other people’s claims. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against claims like pain and suffering, medical expenses, structural damage and court costs. How much liability should you purchase? That is a decision to put some thought into, but buy as high a limit as you can afford.

Comprehensive or Other Than Collision

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like hail damage, hitting a bird, falling objects, vandalism and fire damage. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

UM/UIM Coverage

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually these coverages are similar to your liability insurance amounts.

Make a quick buck

Cheap 2012 BMW 7 Series insurance can be bought from both online companies as well as from insurance agents, and you need to comparison shop both to have the best rate selection. A few companies may not provide the ability to get quotes online and many times these regional insurance providers only sell through independent agents.

When getting insurance coverage quotes online, it’s a bad idea to sacrifice coverage to reduce premiums. There have been many cases where drivers have reduced uninsured motorist or liability limits and learned later that the savings was not a smart move. Your aim should be to buy a smart amount of coverage at a price you can afford, but don’t skip important coverages to save money.

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