2018 BMW 7 Series Insurance Cost – 7 Tips for Best Prices

I can’t think of a single person who gets a kick out of paying for insurance, particularly when they are paying too much. Numerous auto insurance companies battle to insure your vehicles, so it’s not easy to compare every company to find the best rates possible.

Don’t overlook these seven car insurance discounts

Buying car insurance is not cheap, but there are discounts available that can drop the cost substantially. Certain discounts will be applied when you complete an application, but lesser-known reductions have to be asked for before being credited.

  • Low Mileage Discounts – Driving fewer miles may enable drivers to earn lower prices on the low mileage vehicles.
  • Discounts for Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) off the medical payments premium.
  • Discounts for Responsible Drivers – Accident-free drivers can save up to 40% or more on their auto insurance quote on 7 Series coverage than their less cautious counterparts.
  • Membership in Organizations – Affiliation with a professional or civic organization is a simple method to lower premiums on your policy.
  • Auto/Life Discount – Some insurance carriers give lower premium rates if you buy some life insurance too.
  • Theft Prevention System – Cars, trucks, and SUVs optioned with advanced anti-theft systems help deter theft and can earn a small discount on your policy.
  • Student Discount for Driver Training – Teen drivers should enroll in driver’s education in school or through a local driver safety program.

A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. A few only apply to specific coverage prices like medical payments or collision. So even though it sounds like you can get free auto insurance, insurance companies wouldn’t stay in business.

A few popular companies and a selection of discounts are detailed below.

  • GEICO policyholders can earn discounts including air bags, good student, multi-policy, daytime running lights, defensive driver, and federal employee.
  • USAA offers discounts for annual mileage, good student, new vehicle, safe driver, multi-policy, defensive driver, and vehicle storage.
  • Progressive includes discounts for online quote discount, online signing, multi-policy, multi-vehicle, and continuous coverage.
  • American Family offers discounts including mySafetyValet, good driver, multi-vehicle, accident-free, defensive driver, good student, and bundled insurance.
  • Esurance may offer discounts for online quote, renters, DriveSense, claim free, and safety device.
  • Farmers Insurance discounts include teen driver, early shopping, business and professional, youthful driver, and alternative fuel.
  • State Farm has discounts for good driver, accident-free, driver’s education, anti-theft, and Steer Clear safe driver discount.

If you are trying to find affordable auto insurance quotes, ask each company how many discounts you can get. Some discounts listed above may not be offered in your state. To find providers that offer some of these discounts, click this link.

How to buy insurance coverage online

Most companies allow consumers to get prices for coverage on their websites. Comparing prices online is possible for anyone because it’s just a matter of typing in the amount of coverage you want into the quote form. Upon sending the form, the system automatically retrieves your driving record and credit report and generates pricing information determined by many factors. Online price estimates helps simplify price comparisons, but the work required to visit different websites and enter the same data into a form is repetitive and time-consuming. But it’s necessary to compare as many rates as possible in order to get better insurance coverage pricing.

The easiest way to compare insurance coverage pricing utilizes a single form that gets prices from a lot of companies. It saves time, requires less work, and makes quoting online much simpler. After your information is entered, your coverage is rated with multiple companies and you can pick any one of the price quotes you receive. If you find a better price you can simply submit the application and purchase the new policy. This process takes less than 15 minutes and you’ll know if lower rates are available.

To save time and use this form to compare rates, click here to open in new window and submit your coverage information. If you have your current policy handy, we recommend you copy identical to your current policy. Doing this guarantees you will have rate comparison quotes using the same coverage and limits.

When to get professional advice

When choosing the right insurance coverage, there really is no best way to insure your cars. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that may help you determine whether or not you might need an agent’s assistance.

  • How many claims can I have before being cancelled?
  • What is covered by UM/UIM coverage?
  • Does my policy pay for OEM or aftermarket parts?
  • What vehicles should carry emergency assistance coverage?
  • How much can I save by bundling my policies?
  • When do I need to add a new car to my policy?

If you can’t answer these questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies. It’s fast, free and can provide invaluable advice.

Parts of your insurance policy

Understanding the coverages of a insurance policy helps when choosing the right coverages for your vehicles. Policy terminology can be difficult to understand and reading a policy is terribly boring. Listed below are typical coverages available from insurance companies.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for doctor visits, surgery, dental work and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage

This coverage gives you protection from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Collision coverage

This will pay to fix damage to your 7 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 driving through your garage door, hitting a parking meter, backing into a parked car and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to get cheaper collision coverage.

Auto liability

This will cover damages or injuries you inflict on other people or property that is your fault. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: 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 limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things like loss of income, medical services, pain and suffering and bail bonds. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.

Comprehensive protection

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for things like damage from a tornado or hurricane, damage from getting keyed, a tree branch falling on your vehicle and rock chips in glass. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

One last thing

In this article, we presented some good ideas how to shop for 2018 BMW 7 Series insurance online. The key concept to understand is the more providers you compare, the better likelihood of getting cheaper auto insurance. You may even find the best premium rates are with a company that doesn’t do a lot of advertising. Some small companies may have significantly lower prices on certain market segments than their larger competitors like GEICO and State Farm.

As you go through the steps to switch your coverage, never sacrifice coverage to reduce premiums. There are many occasions where drivers have reduced collision coverage and discovered at claim time that the small savings ended up costing them much more. The proper strategy is to buy a smart amount of coverage at the lowest possible cost, but don’t skip important coverages to save money.

Additional information can be read at the links below