How to Insure your BMW 318is on the Cheap
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. Finding affordable coverage for your BMW 318is probably is no different.
Step One: Compare Apples-to-Apples Quotes
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. But you can now comparison shop and buy direct online!
The first step to finding lower BMW 318is rates is to get quotes from all the major car insurance companies. This is fast and easy and only requires you to complete one form.
Simply click the link below to start a quote that will compare rates from many companies and you may find a lower rate than you're currently paying.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your 318is.
Step Two: Tried and True Ways to Save on 318is Insurance
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- Some people just like the looks of a higher performance vehicle like the BMW 318is, but even if you don't use the extra power it's going to cost you more when your insurance bill arrives.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- A deductible is the amount you pay before your company pays a comprehensive or collision claim. If you increase your deductibles, you will pay less for these coverages.
- If a quick quarter mile is your goal, the 318is will answer the call. But if cheap insurance rates are your goal, then you might want to consider trading down to a lower performance vehicle.
- Filing too many claims with your company can end up either costing you more for insurance or having your policy cancelled. Insurance companies don't like paying any more than you do, but they have the option of whether to keep you as a policyholder or not.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- Driver's safety courses will often get you a discount off your rates. Check to see if your company offers the discount and find a qualifying class in your area.
- Never allow one policy to expire without having a new policy effective the same date. This causes a lapse in coverage and if you don't have insurance for any length of time, your next policy will cost you more.
- The advancement of car safety features such as traction control, stability control, front and side-impact air bags and all-wheel drive all help keep insurance costs down.
- Reduce your rates by buying a car that is not a hot model for car thieves. Certain makes and models are more tempting than others, and high-frequency stolen vehicles get charged a higher rate.
- If you're a young driver, you will pay more to insure a 318is. There isn't anything you can do about your age, but rates will drop as you mature.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
Step Three: Buy the Policy That's Right for You
Knowing which company to insure your 318is with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
Before you drive your BMW 318is home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new 318is at risk as soon as you drive away.
Upon completion of buying your policy, you need to print out the financial responsibility card that must be kept in your vehicle at all times. Replace any old cards and promptly replace expired cards. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
To read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.
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