2014 BMW 3 Series Insurance Cost

Searching for cheaper insurance coverage rates for your BMW 3 Series? Locating cheaper insurance for a BMW 3 Series could be a lot of work, but you can follow these tips to make it easier. There is a right way and a wrong way to shop for insurance coverage so you’re going to learn the best way to quote coverages for a BMW and obtain the best price possible.

Compare free insurance rate quotes

Finding a better price on insurance isn’t really that difficult. Consumers just need to spend a little time comparing rate quotes online from several insurance companies. Insurance prices can be quoted using a couple different methods.

The most efficient method consumers can analyze rates is to use a rate comparison form like this one (opens in new window). This type of form prevents you from having to do separate forms for every insurance company. A single, simple form compares rates from insurance companies with the best prices. Recommended for those who want to invest the least amount of time.
A different way to get quotes online requires you to visit the website for every company you want to comare to complete a price quote. For examples sake, let’s say you want to compare rates from Nationwide, Esurance and Liberty Mutual. To find out each rate you need to spend time on each company’s site and enter your information, and that explains why we recommend the first method.
For a handy list of car insurance company links in your area, click here.
The last way to get comparison rates to local insurance agencies. The internet has made agencies unnecessary unless you have a need for the professional guidance that can only be provided by a licensed insurance agent. Although you can compare the best prices online but purchase the actual policy in an agency.

It’s your choice how you get your quotes, but do your best to use identical coverages on every quote you get. If the quotes have different coverage information it will be very difficult to determine the best price for your BMW 3 Series.

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Don’t overlook these car insurance discounts

Some companies do not advertise every policy discount very clearly, so the list below gives a summary of some of the best known and also the more inconspicuous credits available to you. If you’re not getting every credit you deserve, you could be getting lower rates.

No Claim Discounts – Drivers with accident-free driving histories can save substantially compared to insureds who have frequent claims or accidents.
Organization Discounts – Affiliation with qualifying employment or professional organizations is a good way to get lower rates on your policy.
Auto/Home Discount – When you have multiple policies with one insurance company you could earn a discount of 10% to 20% off each policy.
Driver’s Education for Students – Require your teen driver to participate in a local driver’s education class as it can save substantially.
Federal Government Employee – Simply working for the federal government could qualify for a slight premium decrease for 3 Series coverage with a few car insurance companies.
Anti-lock Brake Discount – Vehicles that have anti-lock braking systems have fewer accidents and will save you 10% or more.

Remember that some of the credits will not apply to all coverage premiums. Most only cut specific coverage prices like medical payments or collision. If you do the math and it seems like you can get free auto insurance, companies don’t profit that way.

Large car insurance companies and a partial list of their discounts are:

State Farm may include discounts for accident-free, defensive driving training, multiple autos, driver’s education, safe vehicle, and good driver.
Progressive may offer discounts for continuous coverage, good student, multi-vehicle, online quote discount, and multi-policy.
Progressive has savings for online signing, homeowner, good student, continuous coverage, multi-vehicle, and multi-policy.
MetLife discounts include multi-policy, good driver, claim-free, accident-free, defensive driver, good student
Farm Bureau offers discounts for renewal discount, good student, driver training, 55 and retired, multi-policy, youthful driver, and safe driver.
GEICO has discounts for membership and employees, defensive driver, air bags, anti-lock brakes, multi-vehicle, and seat belt use.
SAFECO may have discounts that include teen safe driver, anti-theft, safe driver, anti-lock brakes, teen safety rewards, and homeowner.

Before you buy a policy, ask all companies you are considering to apply every possible discount. Some credits might not apply in your area. To see a list of companies that provide some of the discounts listed above, click here to view.

Decisions you make can impact your insurance rates

Multiple criteria are used in the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, although some other factors are not as apparent like your continuous coverage or your financial responsibility.

How much liability – Liability insurance is the protection in the event that you are found liable for causing personal injury or damage in an accident. Liability provides legal defense which can be incredibly expensive. This coverage is relatively inexpensive when compared with rates for comp and collision, so buy as much as you can afford.
Premiums impacted by vehicle usage – Driving a lot of miles annually the more you’ll pay to insure your vehicle. A lot of companies price each vehicle’s coverage based upon how much you drive. Autos used primarily for pleasure use qualify for better rates than those that get driven frequently. It’s a good idea to make sure your insurance coverage policy states how each vehicle is driven, because improper ratings can cost you money. Incorrect rating for your 3 Series is just wasting money.
Extra coverages that may not be needed – Policies have additional coverages you can purchase if you aren’t diligent. Add-on coverages like personal injury protection, towing coverage, and additional equipment coverage are probably not needed. These may sound like a good investment when buying your policy, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.
Vehicles with better crash test results save money – Vehicles with high crash test scores get lower rates. These vehicles result in less severe injuries and any reduction in injury severity means lower claim amounts which can mean better rates for you. If your BMW is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.

When to get professional advice

When buying proper insurance coverage for your vehicles, there really is no one size fits all plan. Everyone’s needs are different.

These are some specific questions might help in determining whether you would benefit from an agent’s advice.

Should I buy only the required minimum liability coverage?
Where can I get insurance after a DUI in my state?
Is business property covered if stolen from my car?
Can I afford low physical damage deductibles?
Do I really need UM/UIM coverage?
Do I have coverage if my license is suspended?
Does having multiple vehicles earn me a discount?
When do I need to add a new car to my policy?
Can my babysitter drive my car?
Should I have combined single limit or split liability limits?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you don’t have a local agent, simply complete this short form. It is quick, free and may give you better protection.

The coverage is in the details

Learning about specific coverages of a auto insurance policy helps when choosing the best coverages for your vehicles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring.

Liability car insurance

This coverage provides protection from damage or injury you incur to other people or property by causing an accident. This coverage protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 which means $100,000 bodily injury coverage, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability coverage protects against claims such as loss of income, medical expenses and medical services. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.

Collision protection

This pays for damage to your 3 Series from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like sideswiping another vehicle, scraping a guard rail and hitting a mailbox. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also increase the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your BMW 3 Series.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.

Comprehensive protection

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like fire damage, a tree branch falling on your vehicle, damage from a tornado or hurricane, vandalism and rock chips in glass. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for expenses for things like prosthetic devices, EMT expenses, rehabilitation expenses and surgery. They are used to fill the gap from your health insurance program or if you do not have health coverage. It covers all vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Take this to the bank

A few companies don’t offer rates over the internet and usually these small, regional companies prefer to sell through independent agents. Cheap 2014 BMW 3 Series insurance is available on the web and with local insurance agents, so you need to compare both to have the best rate selection.

Throughout this article, we presented a lot of ways to get a better price on 2014 BMW 3 Series insurance. The key thing to remember is the more quotes you get, the better your chances of lowering your rates. You may even find the best price on auto insurance is with an unexpected company.

Drivers switch companies for many reasons like being labeled a high risk driver, lack of trust in their agent, denial of a claim and questionable increases in premium. Regardless of your reason for switching companies, finding a great new company is not as hard as you think.

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