2017 BMW i3 Car Insurance Cost – 10 Savings Tips

Looking for cheaper car insurance rates for your BMW i3? Nobody that owns a car looks forward to paying premiums for car insurance, especially when they are aware that they could get a better deal. Many insurers compete for your business, and it can be difficult to compare rates and get the definite lowest rate possible.

Consumers need to quote other rates before your policy renews since insurance prices are usually higher with each renewal. Even if you think you had the best price on i3 coverage at your last renewal you can probably find a better rate now. Block out anything you think you know about car insurance because I’m going to let you in on the secrets to the proper way to find the best coverage while lowering your premiums.

Don’t overlook these ten insurance discounts

Car insurance can cost a lot, but there’s a good chance there are discounts that can dramatically reduce your bill. A few discounts will automatically apply when you complete an application, but a few must be inquired about before you get the savings.

  • Discount for Life Insurance – Larger companies have a break if you buy some life insurance too.
  • Professional Memberships – Joining qualifying employment or professional organizations may earn a discount on insurance.
  • Theft Prevention Discount – Vehicles that have factory anti-theft systems are stolen less frequently and that can save you a little bit as well.
  • 55 and Retired – If you’re over the age of 55, you can get a slight reduction on a car insurance quote on i3 coverage.
  • Discount for Good Grades – A discount for being a good student could provide a savings of up to 20% or more. Earning this discount can benefit you up to age 25.
  • Passive Restraints – Cars that have air bags can qualify for discounts up to 30%.
  • Low Miles Discount – Low annual miles could qualify for better prices on cars that stay parked.
  • Homeowners Savings – Simply owning a home can earn you a little savings due to the fact that maintaining a home is proof of financial responsibility.
  • Federal Employees – Active or former government employment can earn a discount up to 10% on i3 coverage with certain companies.
  • Accident Forgiveness – Not really a discount, but a few companies such as Progressive and Allstate may permit one accident before your rates go up as long as you don’t have any claims for a particular time prior to the accident.

Discounts lower rates, but some credits don’t apply to your bottom line cost. Most only apply to the price of certain insurance coverages like comp or med pay. If you do the math and it seems like it’s possible to get free car insurance, it’s just not the way it works.

A few companies that may offer policyholders most of these discounts include:

It’s a good idea to ask each company the best way to save money. All car insurance discounts might not be available to policyholders in your area.

Ways to get insurance quotes

All the larger insurance companies provide prices on their websites. Getting online rates is quite easy because it’s just a matter of typing in your coverage information into the quote form. When the form is submitted, their quoting system obtains your driving record and credit report and returns a price based on many factors. Online quotes makes comparing rates easy, but the time it takes to visit many different websites and type in the same information can be a bit tiresome and repetitive. Unfortunately, it is important to get many rate quotes if you are searching for lower prices.

The easy way to compare rates

A better way to get multiple rate quotes is to use a quote form to return rates from a bunch of companies at once. This type of form saves time, helps eliminate reptitive entry, and makes quoting online a little more enjoyable. Immediately after submitting the form, it is rated and you are able to buy any one of the quote results. If the quotes result in lower rates, it’s easy to complete the application and buy the policy. The whole process takes just a few minutes to complete and you will find out if you’re overpaying now.

In order to compare rates now, click here to open in a new tab and complete the simple form. If you have a policy now, it’s recommended that you enter the limits and deductibles identical to your current policy. This makes sure you’re receiving rate comparison quotes for similar insurance coverage.

When to get professional advice

When choosing the best insurance coverage, there is no perfect coverage plan. Everyone’s situation is a little different and your policy should reflect that. Here are some questions about coverages that could help you determine if your insurance needs may require specific advice.

  • Am I covered if my car is in a flood?
  • Is upholstery damage covered by car insurance?
  • How do I insure my teen driver?
  • Which is better, split liability limits or combined limits?
  • When do I need to add a new car to my policy?
  • What is the minimum liability in my state?
  • Exactly who is provided coverage by my policy?
  • How high should my medical payments coverage be?
  • Should I get collision insurance on every vehicle?

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an agent. If you don’t have a local agent, fill out this quick form or click here for a list of insurance companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Car insurance coverages for a 2017 BMW i3

Having a good grasp of your auto insurance policy helps when choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages found on most auto insurance policies.

Collision protection

Collision coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as colliding with a tree, hitting a parking meter, driving through your garage door and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Medical expense coverage

Med pay and PIP coverage kick in for immediate expenses such as chiropractic care, funeral costs, pain medications and EMT expenses. They are often used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not available in all states and may carry a deductible

Liability coverage

This coverage can cover damages or injuries you inflict on a person or their property in an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 50/100/50 that translate to a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability can pay for claims like pain and suffering, medical expenses, structural damage, attorney fees and emergency aid. How much coverage you buy is a personal decision, but buy higher limits if possible.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and also any damage incurred to your BMW i3.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive protection

Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as falling objects, hail damage, damage from getting keyed, hitting a deer and hitting a bird. The maximum amount your auto insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Compare but don’t skimp

There are still a few companies who do not provide online quoting and most of the time these smaller providers work with independent agents. The cheapest 2017 BMW i3 insurance can be sourced online in addition to many insurance agents, so you should be comparing quotes from both to have the best rate selection.

When you buy car insurance online, do not reduce coverage to reduce premium. Too many times, someone dropped liability coverage limits only to find out they didn’t purchase enough coverage. The goal is to buy enough coverage for the lowest price while not skimping on critical coverages.

We’ve covered many ways to shop for 2017 BMW i3 insurance online. It’s most important to understand that the more companies you get premium rates for, the better your comparison will be. You may even find the most savings is with a small mutual company. Smaller companies often have lower premium rates on specific markets than their larger competitors like Allstate or State Farm.

Helpful articles