2017 BMW X1 Car Insurance Rates – 7 Savings Tips

I doubt anyone gets a kick out of paying for car insurance, in particular when the price is too high. With drivers having so many companies and agents to choose from, it can be impossible to pick the lowest price insurance company.

How to get affordable auto insurance

Cutting your auto insurance rates can be surprisingly simple. Drivers just need to take a few minutes comparing price quotes to see which company has the cheapest insurance quotes. This is very easy and can be done using a couple different methods.

  1. The first (and easiest) way to get quotes for comparison would be an industry-wide quote request form like this one (opens in new window). This type of form eliminates the need for multiple quote forms for every company. A single form will get you price quotes from auto insurance companies with the best prices.
  2. Another way to compare rate quotes is going to each individual company website and complete a new quote form. For example, we’ll pretend you are doing a rate comparison from Progressive, Liberty Mutual and Allstate. You would need to take the time to go to each site to enter the same coverage data repeatedly, which can get rather old. For a handy list of car insurance company links in your area, click here.
  3. If you have time to kill, the last method to comparison shop is physically going to local insurance agencies. Comparing rates online reduces the need to sit down with an agent unless you prefer the professional abilities that only an agent can give. Some companies do allow you to comparison shop online but buy from a local insurance agent.

Which method you use is up to you, but try to use the same coverage limits and deductibles on every price quote you get. If you are comparing different data it will be nearly impossible to get a fair rate comparison.

Insurance coverage quotes and discounts

Companies don’t always publicize every policy discount in a way that’s easy to find, so the following list contains both the well known and the harder-to-find discounts that may be available.

  • Air Bag Discount – Cars that have air bags could see savings of 20% or more.
  • No Charge for an Accident – Not really a discount, but some insurance companies may permit one accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
  • Policy Bundle Discount – If you can combine your homeowners and auto policy and place coverage with the same company you could earn a discount of at least 10 to 15 percent or more.
  • Anti-lock Brake Discount – Cars and trucks that have anti-lock braking systems have fewer accidents and therefore earn up to a 10% discount.
  • Drive Safe and Save – Insureds without accidents may receive a discount up to 45% for X1 insurance than drivers with accidents.
  • Paperwork-free – A few insurance companies may give you up to $50 shop insurance over the internet.
  • Include Life Insurance and Save – Not all insurance companies offer life insurance, but some may give you a break if you buy life insurance from them.

While discounts sound great, it’s important to understand that most credits do not apply to the overall cost of the policy. A few only apply to specific coverage prices like liability, collision or medical payments. Despite the appearance that you would end up receiving a 100% discount, it’s just not the way it works.

A list of companies and a partial list of their discounts are outlined below.

  • State Farm offers premium reductions for good driver, multiple policy, good student, anti-theft, and Drive Safe & Save.
  • Farmers Insurance has savings for youthful driver, distant student, multi-car, business and professional, and pay in full.
  • Progressive may include discounts for homeowner, continuous coverage, multi-policy, multi-vehicle, online quote discount, and good student.
  • GEICO offers discounts including federal employee, anti-lock brakes, anti-theft, daytime running lights, emergency military deployment, military active duty, and multi-vehicle.
  • Auto-Owners Insurance may offer discounts for multi-policy, safe vehicle, safe driver, paperless, and teen driver.
  • The Hartford policyholders can earn discounts including defensive driver, vehicle fuel type, bundle, anti-theft, and air bag.
  • Farm Bureau discounts include good student, driver training, multi-vehicle, safe driver, renewal discount, and youthful driver.
  • USAA includes discounts for loyalty savings, annual mileage, multi-vehicle, military installation, family discount, and driver training.

Check with all companies you are considering what discounts are available to you. A few discounts may not apply in your area. To locate insurers with discount rates, click this link.

Situations that may require an agent’s advice

When it comes to choosing the best insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Every insured’s situation is different so your insurance needs to address that. For example, these questions can help discover if you might need professional guidance.

  • Can I afford to pay high deductible claims out of pocket?
  • What are the financial responsibility laws in my state?
  • Where can I get insurance after a DUI in my state?
  • What if I owe more than I can insure my car for?
  • Do I need special endorsements for business use of my vehicle?
  • Do I get a pro-rated refund if I cancel my policy early?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Is there coverage for injuries to my pets?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and can provide invaluable advice.

Insurance myths debunked

Consumers can’t escape the ads that promise big savings for switching by State Farm and Allstate. They all seem to convey the message of big savings if you move your coverage to them.

How is it plausible that every one can make the same claim? Here is how they do it.

Insurance companies look for specific characteristics for the type of customer that will generate a profit. One example of a preferred risk might have to be between 30 and 50, has few claims, and has excellent credit. A customer getting a price quote that meets those criteria will get low prices as well as save money with a new company.

Insureds who do not meet this stringent profile must pay a higher rate and this can result in business not being written. If you listen closely, the ads state “people who switch” but not “all drivers who get quotes” can save as much as they claim. This is how insurance companies can advertise the savings.

Different companies use different criteria so you need to quote coverage with many companies. It’s not possible to predict which company will have the best prices.

Car insurance 101

Having a good grasp of your policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Shown next are the normal coverages found on the average car insurance policy.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for expenses for things like chiropractic care, rehabilitation expenses and ambulance fees. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. They cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states and gives slightly broader coverage than med pay

Comprehensive coverages

This covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as hitting a bird, damage from getting keyed and theft. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Liability

This will cover damages or injuries you inflict on people or other property in an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against things like emergency aid, pain and suffering and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford.

Uninsured and underinsured coverage

Your UM/UIM coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision protection

Collision coverage pays for damage to your X1 resulting from colliding with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things such as colliding with a tree, crashing into a building, sideswiping another vehicle, backing into a parked car and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Final thoughts

In this article, we covered a lot of ways to lower your 2017 BMW X1 insurance prices. The key thing to remember is the more rate quotes you have, the better your comparison will be. You may even find the lowest prices are with a lesser-known regional company. These companies can often insure niche markets at a lower cost compared to the large companies like Allstate or State Farm.

Cost effective 2017 BMW X1 insurance can be found online and also from your neighborhood agents, so you need to quote insurance with both in order to have the best chance of saving money. Some insurance providers do not offer online price quotes and usually these smaller companies only sell through local independent agents.

As you go through the steps to switch your coverage, it’s not a good idea to skimp on coverage in order to save money. There are many occasions where an accident victim reduced collision coverage only to regret at claim time that they should have had better coverage. Your aim should be to get the best coverage possible for the lowest cost while not skimping on critical coverages.

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