Lower Your 2014 BMW Z4 Insurance Cost

Searching for cheaper insurance coverage rates for your BMW Z4? Nobody I know is fond of buying insurance coverage, especially knowing they are paying too much.

Popular companies such as State Farm, Allstate, GEICO and Progressive constantly blast consumers with fancy advertisements and it is difficult to not get sucked in by the cute commercials and take the time to shop coverage around.

Consumers need to do rate comparisons before your next renewal because insurance coverage prices are adjusted regularly by insurance companies. Even if you think you had the best price on Z4 insurance last year other companies may now be cheaper. Ignore everything you know about insurance coverage because you’re going to get a crash course in the best way to lower your annual insurance bill.

You may qualify for discounts

Auto insurance companies don’t list every discount they offer very well, so the next list breaks down both well-publicized and also the more inconspicuous credits available to you.

  • Low Miles Discount – Keeping the miles down on your BMW may enable drivers to earn better premium rates on cars that stay parked.
  • Early Renewal Discounts – A few companies give discounts for signing up before your current expiration date. This discount can save up to 10%.
  • Own a Home – Being a homeowner can get you a discount since owning and maintaining a home demonstrates responsibility.
  • Seat Belts Save – Requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
  • New Car Discount – Buying a new car instead of a used car can save up to 30% due to better safety requirements for newer vehicles.
  • Payment Discounts – If you pay your entire premium ahead of time rather than paying in monthly installments you can actually save on your bill.

Don’t be shocked that most credits do not apply to the entire cost. Some only apply to individual premiums such as medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, it’s just not the way it works. But all discounts should help reduce the cost of your policy.

A partial list of companies that may offer policyholders some of the discounts shown above include:

When quoting, ask each insurance company which credits you are entitled to. A few discounts may not apply to policies in your area. To find insurers that offer some of these discounts, click here to view.

Smart choices result in lower insurance prices

Many factors are considered when you get your auto insurance bill. Most are fairly basic like a motor vehicle report, but other criteria are not as apparent like your vehicle usage or how financially stable you are.

The items below are most of the major factors used by insurance companies to determine prices.

  • Theft deterrents save – Owning a car with a theft deterrent system can earn a premium discount. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft.
  • Married people drive safer – Having a significant other can get you a discount on your insurance coverage bill. Having a spouse generally demonstrates drivers are more stable financially and it’s proven that married couples file fewer claims.
  • Where you call home factors in – Living in less populated areas of the country is a positive aspect when buying insurance coverage. Drivers who live in large cities tend to have congested traffic and more severe claims. Less people living in that area corresponds to lower accident rates as well as less vandalism and auto theft.
  • Older drivers pay less – Inexperience drivers have a tendency to be careless and easily distracted when driving with friends and because of this, their insurance coverage rates are much higher. If you’ve ever had to add a beginning driver onto a policy can increase premiums substantially. Older, more experienced drivers are more cautious drivers, tend to file fewer claims and receive fewer citations.
  • Gaps in coverage mean higher insurance coverage rates – Allowing your insurance coverage policy to lapse will be a fast way to increase your renewal premiums. And not only will insurance be more expensive, not being able to provide proof of insurance will get you a license revocation or jail time. You will then be forced to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.
  • Small frequent insurance coverage claims are not good – If you are a frequent claim filer, you can look forward to much higher rates or policy non-renewal. Car insurance companies give the best rates to people who do not file claims often. Auto insurance is designed for claims that pose a financial burden.

There’s no such thing as the perfect insurance coverage policy

When it comes to choosing the right insurance coverage for your vehicles, there really is no perfect coverage plan. Every situation is different so your insurance needs to address that. These are some specific questions might help in determining whether you may require specific advice.

  • What can I do if my company won’t pay a claim?
  • Are my friends covered when driving my 2014 BMW Z4?
  • What if I total my 2014 BMW Z4 and owe more than it’s worth?
  • What is the difference between comprehensive and collision coverage?
  • How do I insure my teen driver?
  • Am I covered if I hit a deer?
  • What is medical payments coverage?
  • Do I need more liability coverage?
  • Is rental equipment covered for theft or damage?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier

Insurance coverages and their meanings

Understanding the coverages of your policy can help you determine appropriate coverage for your vehicles. Insurance terms can be confusing and nobody wants to actually read their policy. Below you’ll find typical coverages available from insurance companies.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for expenses such as nursing services, chiropractic care and pain medications. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants and will also cover getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive protection

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like damage from a tornado or hurricane, hitting a bird, falling objects and a broken windshield. The maximum amount your insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Liability car insurance

Liability insurance protects you from damage that occurs to a person or their property that is your fault. It protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 which means a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Occasionally you may see a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage pays for claims like medical services, pain and suffering, legal defense fees and attorney fees. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible.

Collision protection

This pays to fix your vehicle from damage resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as backing into a parked car, hitting a parking meter, damaging your car on a curb, colliding with another moving vehicle and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as damage to your BMW Z4.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Normally these coverages are set the same as your liablity limits.

Compare but don’t skimp

As you quote insurance coverage, make sure you don’t skimp on critical coverages to save a buck or two. There are a lot of situations where an accident victim reduced uninsured motorist or liability limits only to regret at claim time that it was a big error on their part. Your objective should be to purchase plenty of coverage for the lowest cost while not skimping on critical coverages.

In this article, we covered some good ideas how to shop for 2014 BMW Z4 insurance online. The key concept to understand is the more rate comparisons you have, the better likelihood of getting the cheapest insurance coverage. Consumers could even find that the lowest premium rates are with a small local company. Smaller companies can often provide lower prices in certain areas as compared to the big name companies such as GEICO and State Farm.

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