How to Lower Your BMW Z4 Insurance Rates In Five Minutes or Less
If shopping your car insurance around was fun, we'd do it much more often. But in reality, the cost for insurance always seems too high and most people would prefer to get a root canal. You probably feel the same way about finding lower cost coverage for your BMW Z4.
Step One: Insurance Rate Comparison Quotes
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. Welcome to the 21st century!
Comparing insurance rates for a BMW Z4 only require you to enter your information once. You'll receive multiple quotes and can easily compare rates.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Important! If you already have liability and physical damage coverage on your Z4, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: Top Ways to Get Lower Z4 Insurance
There are many contributing factors that determine what you pay to insure your BMW. You can help yourself (and your wallet) by paying attention to the following rate factors.
- When insuring your BMW Z4, expect to pay a little more due to the higher performance of the vehicle. On your next purchase consider a lower performance vehicle to save on insurance.
- With age comes cheaper rates! If you're a senior citizen, many car insurance companies will give you a discount. Also, if you belong to a professional organization, check to see if your company gives discounts to members.
- OEM repair parts for the Z4 cost more due to the higher quality. You will pay more for insurance because of this.
- If you're willing to shoulder more of the cost at claim time, consider raising your comprehensive and collision deductibles. This can easily cut 30% or more from your policy premium.
- Sports cars tend to have larger engines and higher top speeds which increases the chance of an accident.
- Car insurance rates for a teen driver on a BMW Z4 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.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- Newer car models are coming standard with advanced passenger safety systems, and these help reduce the risk of injury in an accident. Less injuries mean lower insurance rates.
- Claims that aren't much more than your deductible are better off just being paid out of pocket. If you get into a habit of filing smaller claims, you will pay for it in higher rates.
- Insurance companies pay attention to which vehicles are stolen the most, so if your car is frequently targeted by thieves, chances are good you will pay more for insurance if you live in certain parts of the country.
- One of the best ways to lower your insurance rates is to raise your credit score. Check your rating once a year and make sure to address any problem areas immediately.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- If you have a period where you don't have any insurance coverage, that's called a lapse. The longer the lapse, the more you'll pay to reinstate coverage.
- Homeowners often see a break on their car insurance rates because there is a correlation between owning a home and being a responsible driver.
Step Three: Select the Best Company for Your Needs
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.
It's easiest to cancel an old policy at the renewal date, but you can cancel it anytime. Just make sure you have the new policy effective the date you cancel your old policy in order to avoid any lapse in coverage.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your BMW off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
All states require you to keep the proof-of-insurance or financial responsibility card in your vehicle at all times. Failure to produce this document can result in a citation. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.
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