How to Insure a BMW 335xi like a Tightwad
If comparing car insurance was easy, most of us would do it more often. But in reality, the cost for insurance always seems too high and most people would prefer to get a root canal. Finding good insurance for your BMW 335xi probably leaves you feeling the same way.
Step One: Compare Multiple Rates
If it's been a few years since you shopped for car insurance, you might still think the only way to buy is from a local agent. Now that we have the internet, shopping for car insurance online is a snap!
The best car insurance companies offer online quoting for a BMW 335xi and it's very easy to compare different rates by only using one form.
Start a free rate quote comparison now by clicking the link below. Once you complete the short form, you'll be able to compare rates and then move on to our next section on how to lower rates even further.
Important Tip! In order to accurately compare rates for your 335xi, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Top Ways to Get Lower 335xi Insurance
After completing step one above, you can now learn some of the other ways to slash your 335xi insurance costs.
- The BMW 335xi is a higher performance vehicle, but do you really need the increased speed or power? Vehicles with more moderate performance are usually cheaper to insure.
- If you belong to a professional organization for your employment, you may qualify for a discount rate. And if you're a senior citizen, you may get a discount for your age as well.
- Owning a luxury vehicle like your 335xi means you'll pay a little more for insurance due to the higher cost of repair parts.
- Do you keep your credit rating in good shape? If you do, you will get a better rate than if you let your credit score slide. Check your credit score regularly to make sure there are few blemishes on your record.
- Let's face it, you aren't driving a 335xi because of the fuel economy. You like the looks and performance and you'll pay a little more for insurance because you're driving a sports car.
- Ask your insurance company if there is a discount for completing a driver's safety course. It may get you up to a 10% discount at your next renewal.
- Air bags, antilock brakes, traction control, and stability control all help lower the cost of insurance due to reducing the risk of injury in an accident.
- Consider raising your comprehensive and collision deductibles if you carry full coverage. By accepting more risk yourself, your car insurance company will cut you a break on your physical damage premiums.
- Thieves tend to steal certain makes and models of vehicles more than others, and if your car is on that list, expect to pay higher insurance rates because of it.
- 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.
- Most insurance companies will give you a discount on your car insurance if you also own a home. Some go even farther and give you discounts if you package your homeowners and auto insurance with them.
- Minor driving violations such as speeding tickets can cause your rates to go up. Too many violations in a short period of time will cause your policy to be non-renewed.
- Car insurance rates for a teen driver on a BMW 335xi will be expensive no matter what kind of coverage you have. But if you don't need comprehensive and collision, consider dropping those to save money.
- Allowing your insurance to lapse for any length of time will increase the cost of a new policy. Always keep coverage in force.
Step Three: Buy the Best Policy
Buying a new car insurance policy is just a matter of finalizing your application form and submitting it with your down payment. Once payment has been accepted, coverage is bound the effective date shown on your application.
Make sure to avoid any lapse in coverage by setting the new policy's effective date to be the same date you cancel your old policy. Otherwise you could be driving without any coverage.
Coverage will extend from your current policy if you're buying a BMW 335xi, but if you don't have a policy, you will need to make sure you have coverage in place before you drive it off the dealership lot. If your current policy has any vehicle with full coverage (comprehensive and collision), then your new 335xi will have that coverage extended to it. If you only have liability coverage on your policy, then you have no physical damage coverage on your new purchase.
Once your new policy has been purchased, you are required to keep the proof-of-insurance card in your vehicle at all times. This is required by state law and you can receive a citation if you cannot provide it. If an SR-22 is required due to a reckless driving conviction, DUI or conviction of driving without insurance, make sure your new company is aware of that. Not filing a court-ordered SR-22 can result in suspension of your driver's license.
Additional Insurance Information
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
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