Compare 2016 BMW 2 Series Insurance Rates

Trying to find lower auto insurance rates for your BMW 2 Series? Did you come to the realization that you have high-priced auto insurance? It’s a common feeling and many consumers feel financially strained by their auto insurance policy.

Companies like Progressive, State Farm and GEICO constantly blast consumers with catchy ads and it is difficult to see past the corporate glitz and take the time to shop coverage around.

It’s a good idea to do rate comparisons as often as possible because prices fluctuate regularly. Even if you got the best price for 2 Series coverage last year you can probably find a better rate quote now. There is too much inaccurate information about auto insurance out there, but in just a couple of minutes you can learn some proven techniques to stop overpaying for insurance.

If you are paying for car insurance now, you stand a good chance to be able to save some money using these techniques. Finding the best rates is not rocket science. Nevertheless, vehicle owners must understand how insurance companies determine prices and use this information to your advantage.

How to compare insurance coverage quotes

To find the best insurance coverage rates, there are several ways of comparing price quotes from local insurance coverage companies. The fastest way to find affordable 2016 BMW 2 Series insurance rates involves getting comparison quotes online. This is very easy and can be done by using one of the methods below.

The most recommended method to get quotes for comparison would be an industry-wide quote request form like this one (opens in new window). This style of form eliminates the need for boring form submissions for each company. Taking the time to complete one form gets coverage cost estimates instantly.

A different way to shop for insurance coverage online requires a visit to the website for every company you want to comare to complete a price quote. For sake of this example, we’ll pretend you want to compare prices for Farmers, Liberty Mutual and Progressive. You would need to go to every website and repeatedly enter your information, which is why first method is reommended.

For a list of companies in your area, click here.

The least efficient way to find and compare rates is driving around to all the different insurance agencies. Quoting and buying insurance online has made agencies unnecessary unless you have a complicated situation and need the guidance only provided by licensed agents. Some companies do allow you to price shop your coverage online and have a local agent actually service the policy.

However you get your quotes, be certain you are entering the exact same quote data for each price quote. If you use unequal deductibles or liability limits it will be next to impossible to make an equal comparison. Slightly different insurance coverages can mean a large discrepancy in price. And when comparison shopping, comparing more rates from different companies gives you a better chance of getting the best rates.

Save 15 percent in 15 minutes? Is it for real?

Well-known car insurance companies like GEICO, State Farm and Progressive constantly bombard you with ads on television and other media. All the companies tend to make the same promise that people will save after switching your car insurance policy to them. How does every company have lower policy pricing? You have to listen carefully.

Car insurance companies quote their cheapest rates for the type of customer that earns them the highest profit. An example of a driver they prefer may need to be over the age of 35, has no claims, and does not commute to work. Anyone that hits that “sweet spot” gets the lowest rates and will most likely save quite a bit of money when switching.

People who don’t qualify for those criteria must pay a more expensive rate and business going elsewhere. If you pay attention, the ads say “people who switch” not “everyone that quotes” save that kind of money. This is how companies can truthfully claim big savings. Each company has different criteria, so you need to compare price quotes frequently. Because you cannot predict which insurance companies will have the best premium rates at this point in time.

Discounts for cheaper car insurance rates

Not many people think insurance is cheap, but there may be some discounts to help offset the cost. Some discounts apply automatically when you purchase, but once in a while a discount must be asked about before you get the savings. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

  • College Student Discount – Youth drivers who live away from home to go to college and don’t have a car can receive lower rates.
  • Military Discounts – Being on active deployment in the military can result in better prices.
  • Onboard Data Collection – Drivers who agree to allow their car insurance company to track driving habits by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks if they are good drivers.
  • Professional Organizations – Belonging to a qualifying organization is a simple method to lower premiums on your next car insurance statement.
  • Discounts for Responsible Drivers – Accident-free drivers may save up to 50% more for 2 Series coverage than their less cautious counterparts.

Discounts lower rates, but most credits do not apply to your bottom line cost. Most only cut the cost of specific coverages such as comp or med pay. So when the math indicates all those discounts means the company will pay you, it’s just not the way it works. Any qualifying discounts should help lower the cost of coverage.

If you would like to choose from a list of providers with discount rates, click this link.

Tailor your car insurance coverage to you

When choosing adequate coverage, there really is not a single plan that fits everyone. Every situation is different and your policy should reflect that. Here are some questions about coverages that might help in determining whether you will benefit from professional help.

  • Are all vehicle passengers covered by medical payments coverage?
  • Is my nanny covered when driving my vehicle?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Am I covered when driving on a suspended license?
  • Should I buy only the required minimum liability coverage?
  • How can I get my company to pay me more for my totalled car?
  • What is covered by UM/UIM coverage?
  • Does car insurance cover theft of personal property?
  • How do I insure my teen driver?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

Coverage specifics

Having a good grasp of your auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. These are the usual coverages available from auto insurance companies.

Liability car insurance

Liability insurance provides protection from damages or injuries you inflict on people or other property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers things like legal defense fees, medical services, funeral expenses and loss of income. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive or Other Than Collision

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as falling objects, vandalism, theft and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage

Collision coverage will pay to fix damage to your 2 Series from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as scraping a guard rail, rolling your car and crashing into a ditch. 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. You can also bump up the deductible to bring the cost down.

UM/UIM Coverage

This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Medical costs insurance

Medical payments and Personal Injury Protection insurance pay for short-term medical expenses like EMT expenses, prosthetic devices and surgery. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. It covers you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage

Find Good Coverage for Less

You just read a lot of techniques to reduce 2016 BMW 2 Series insurance premium rates online. It’s most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. Consumers could even find that the lowest premium rates are with an unexpected company. They often have lower prices on specific markets than their larger competitors like Allstate or State Farm.

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. In too many instances, consumers will sacrifice full coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your goal is to buy a smart amount of coverage at the best possible price while still protecting your assets.

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