Cheap 2015 BMW 7 Series Insurance Rates

Wish you could get out of overpriced insurance coverage? It’s quite common and you are not the only one feeling buyer’s remorse.

Multiple insurance companies compete for your hard-earned dollar, so it’s not easy to compare every insurer to find the absolute best rates possible.

You should take the time to do price comparisons quite often since insurance prices are adjusted regularly by insurance companies. Despite the fact that you may have had the lowest rates for 7 Series coverage last year you can probably find a lower rate today. Block out anything you think you know about insurance coverage because you’re about to find out one of the easiest ways to save money, get proper deductibles and limits, all at the lowest rate.

First Step: Get free insurance coverage quotes

All the larger insurance coverage companies allow consumers to get insurance quotes direct online. Doing online price comparisons is possible for anyone as you just type in your required coverages as requested by the quote form. Upon sending the form, their rating system obtains reports for credit and driving violations and generates a price based on many factors. This makes it a lot easier to compare rates but the time it takes to visit each company’s website and repetitively enter the same data into a form is a waste of time. But it’s very important to get many rate quotes in order to find the lowest insurance coverage rates.

The quickest way to compare rates utilizes a single form that analyzes rates from more than one company. It saves time, helps eliminate reptitive entry, and makes quoting online much more enjoyable. After your information is entered, it is rated and you can choose any of the quotes returned. If you find a better price you simply finish the application and purchase coverage. The whole process only takes a few minutes and you will find out if you’re overpaying now.

To find out how much you can save on insurance coverage, click here to open in new window and enter your vehicle and coverage information. If you have coverage now, it’s recommended you complete the form with the limits and deductibles exactly as shown on your declarations page. This helps ensure you’re receiving rate comparison quotes based on similar coverages.

More affordable rates by taking advantage of discounts

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to help offset the cost. Certain discounts will be triggered automatically at the time of quoting, but a few must be specifically requested in order for you to get them. If you’re not getting every credit you qualify for, you could be getting lower rates.

Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
Early Switch Discount – Select larger companies give a discount for buying a new policy early. You may see this discount when you get insurance quotes online.
Student Discounts – Being a good student could provide a savings of up to 20% or more. Earning this discount can benefit you until age 25.
Senior Citizen Rates – Mature drivers could receive better insurance coverage rates for 7 Series coverage.
Drivers Ed for Students – It’s a good idea to have your young drivers take driver’s ed class as it will make them better drivers and lower rates.
Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to buckle their seat belts may be able to save a few bucks off the PIP or medical payment premium.
Online Discount – Some insurance companies will give you a small discount for completing your application on the internet.
College Student – College-age children who are enrolled in a college that is more than 100 miles from home and do not have a car could qualify for this discount.
Low Mileage – Fewer annual miles on your BMW may enable drivers to earn discounted insurance coveragerates on garaged vehicles.

Policy discounts save money, but many deductions do not apply to all coverage premiums. Most cut specific coverage prices like physical damage coverage or medical payments. So even though you would think you would end up receiving a 100% discount, you’re out of luck.

A few popular companies and their possible discounts are included below.

Mercury Insurance may offer discounts for type of vehicle, location of vehicle, ease of repair, multi-policy, good student, anti-theft, and low natural disaster claims.
Farmers Insurance has discounts for youthful driver, switch companies, bundle discounts, homeowner, pay in full, multi-car, and teen driver.
Farm Bureau offers discounts for 55 and retired, safe driver, multi-vehicle, youthful driver, renewal discount, good student, and multi-policy.
State Farm includes discounts for defensive driving training, good driver, accident-free, driver’s education, and student away at school.
Allstate has savings for utility vehicle, 55 and retired, senior citizen, FullPay discount, and auto/life discount.
GEICO may have discounts that include anti-theft, defensive driver, emergency military deployment, air bags, federal employee, daytime running lights, and military active duty.

If you need lower rates, check with each insurance company which credits you are entitled to. Some credits might not apply in your area.

How much auto insurance do I need?

When it comes to buying proper insurance coverage for your vehicles, there really is not a best way to insure your cars. Each situation is unique so your insurance needs to address that. These are some specific questions may help highlight whether your personal situation would benefit from an agent’s advice.

Do I need medical payments coverage since I have good health insurance?
Do I need rental car coverage?
Is my teenager covered with friends in the car?
Can I afford to buy a different vehicle if my 2015 BMW 7 Series is totaled?
Which is better, split liability limits or combined limits?
Is my BMW 7 Series covered if I use it for business?

If you don’t know the answers to these questions, 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

Detailed coverages of your car insurance policy

Knowing the specifics of your policy helps when choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverage types available from car insurance companies.

Liability insurance

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

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability coverage protects against things such as attorney fees, structural damage, repair bills for other people’s vehicles, bail bonds and court costs. How much liability coverage do you need? That is a personal decision, but consider buying higher limits if possible.

Comprehensive or Other Than Collision

This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for things such as hitting a deer, falling objects and a broken windshield. The most a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical costs insurance

Med pay and PIP coverage kick in for bills such as pain medications, EMT expenses, X-ray expenses, chiropractic care and ambulance fees. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your BMW 7 Series.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Coverage for collisions

This pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision insurance covers claims like hitting a parking meter, scraping a guard rail and driving through your garage door. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible in order to get cheaper collision rates.