Penny Pincher's Guide to Insuring a BMW Alpina B7
If finding cheaper car insurance was fun, we'd make the time to do it regularly. Unfortunately, it's not always as easy as it sounds to get the best rate. Finding good insurance for your BMW Alpina B7 probably leaves you feeling the same way.
Step One: Compare Apples-to-Apples Quotes
In years past, the only way to purchase car insurance was to visit the office of a local agent. Times have changed!
You can now shop all the best car insurance companies and compare rates for a BMW Alpina B7 and you don't even have to visit each individual website!
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Important Tip! In order to accurately compare rates for your Alpina B7, 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: Tricks to Saving Money on Alpina B7 Insurance
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- The BMW Alpina B7 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 have a high credit score, you will be rewarded with lower insurance rates. Conversely, if your credit rating is on the low site, your rates will be higher.
- Repair costs generally trend higher as the price of a vehicle goes up. So by owning a Alpina B7, you can expect higher repair bills and also higher insurance rates because of this.
- Many insurance companies will give you a small discount if you've recently completed a driver's training course.
- Let's face it, you aren't driving a Alpina B7 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.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- 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.
- Members of many professional organizations can receive discounts on car insurance, and if you're a senior citizen, that could earn you an additional discount.
- 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.
- Youthful or teen drivers that are rated on any vehicle will cost more. The inexperience and tendancy to enjoy going fast is a recipe for an accident.
- Most of us have received a ticket at one time or another. If you get a ticket for a minor violation, find out if there is a safe driving class you can take to keep the ticket off your driving record.
- Most BMW vehicles come with standard safety features such as air bags and passive restraints, and those will help keep your insurance costs down.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- If your Alpina B7 ranks on the list of vehicles that are frequently stolen, that can result in a higher rating class and a more expensive rate.
Step Three: Buy the Best Policy
It's time to make a purchase decision based on your rate comparisions and and any policy coverage changes you wish to make. Once you are comfortable with the cost and coverages, you can finalize your purchase by paying your premium down payment.
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.
If this is a new policy with only the BMW on it, be sure to have coverage before leaving the dealership or car lot. If you're adding it to an existing policy, you have anywhere from 15 to 30 days depending on the company. If you have a current policy and you only carry liability coverage, then that's the only coverage that will automatically extend to your Alpina B7. But if you currently carry full coverage, comprehensive and collision coverage will extend to your new vehicle.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. If your state requires you to file an SR-22 for being a high-risk driver, make sure your new company is aware of this requirement. Failure to comply can result in loss of your driver's license.
More Insurance Buying Tips
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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