Trying to find cheaper insurance for a BMW Z4 can be an all-consuming task, but you can learn our auto insurance buying tips and make it easy.
There are both good and bad ways to compare auto insurance rates and you need to know the best way to quote coverages for your BMW and get the best price possible either online or from local insurance agents.
You should take the time to do rate comparisons periodically due to the fact that insurance rates are rarely the same from one policy term to another. Just because you found the best price on Z4 insurance two years ago you will most likely find a better rate today. You can find a lot of wrong information about auto insurance online, so I’m going to show you some great ideas on how to put money back in your pocket.
Pieces of the BMW Z4 rate puzzle
Consumers need to have an understanding of the rating factors that play a part in calculating your auto insurance rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that will entitle you to lower auto insurance prices.
- One company can mean more discounts – Most insurance companies provide better rates to people who carry more than one policy, otherwise known as a multi-policy discount. Even though this discount sounds good, you still need to compare other company rates to ensure the best deal.
- Clean credit earns discounts – A driver’s credit rating is a large factor in determining what you pay for auto insurance. Drivers with high credit scores tend to file fewer claims and have better driving records than those with lower credit scores. If your credit history can use some improvement, you could pay less to insure your BMW Z4 by improving your rating.
- Drive less and save money – Driving more miles in a year’s time the more you will pay for auto insurance. Most insurance companies charge to insure your cars based on their usage. Cars and trucks left parked in the garage get more affordable rates as compared to vehicles used primarily for driving to work. If your policy improperly rates your Z4 can result in significantly higher rates. Make sure your auto insurance coverage is showing the proper vehicle usage.
- What type of vehicle do you drive? – The make and model of the car you are buying insurance for makes a big difference in how high your rates are. Since the BMW Z4 is classified as a luxury sports car, insuring your vehicle will cost up to twice as much compared to average rates. Low performance passenger cars generally receive the lowest base rates, but the cost you end up paying is determined by many additional factors.
- No coverage gaps is important – Having an insurance coverage lapse is a sure-fire way to increase your auto insurance rates. And not only will insurance be more expensive, getting caught without coverage will get you a steep fine or even jail time.
- Extra add-on coverages are wasting money – There are a ton of add-on coverages that you can get tricked into buying when buying auto insurance. Coverages like personal injury protection, accidental death and motor club memberships may be wasting your money. These coverages may sound good at first, but if you don’t need them get rid of them and save.
Auto Insurance Comparison Rates
Most major insurance companies such as State Farm, Allstate and GEICO quote price estimates online. Obtaining pricing is fairly straightforward as you simply enter your coverage information as detailed in the form. When complete, their system automatically orders your driving record and credit report and quotes a price based on these factors.
Quoting online makes comparing rates easy, but the time required to go to different websites and complete many quote forms is monotonous and tiresome. But it’s absolutely necessary to do this in order to find a better rate.
There is an easier way!
The preferred way to get multiple rate quotes makes use of a single form to obtain quotes from more than one company. It’s a real time-saver, helps eliminate reptitive entry, and makes online shopping much simpler. As soon as you send your information, it gets priced with multiple companies and you can pick your choice of the quotes that you receive.
If the quotes result in lower rates, it’s easy to complete the application and purchase the new policy. This process takes 15 minutes at the most and you will know how your current rates stack up.
In order to use this form to compare rates, click here to open in new window and enter your vehicle and coverage information. If you have a policy now, it’s recommended you type in as shown on your current policy. This makes sure you will get rate comparison quotes for similar insurance coverage.
Buyer beware of auto insurance advertising tricks
State Farm, Allstate and GEICO constantly bombard you with ads on television and other media. All the companies make the same claim of big savings if you switch your policy. But how can every company claim to save you money? This is how they do it.
All the different companies are able to cherry pick for the type of customer that earns them a profit. For instance, a preferred risk could be between 25 and 40, has no driving citations, and has great credit. A propective insured who meets those qualifications will get the preferred rates and as a result will probably save a lot of money.
Potential insureds who fall outside the requirements will be quoted higher premiums which leads to business going elsewhere. The ads state “customers who switch” not “everybody who quotes” save that much money. That’s why companies can truthfully advertise the savings.
This emphasizes why you should compare as many rates as you can. You cannot predict which auto insurance company will have the lowest rates.
Companies offer discounts so take them!
Insurance can cost an arm and a leg, but there are discounts available that you may not even be aware of. A few discounts will automatically apply at the time you complete a quote, but less common discounts must be requested specifically prior to receiving the credit.
- Save with a New Car – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
- Multi-car Discount – Buying insurance for more than one vehicle on one policy qualifies for this discount.
- Paperless Signup – Certain companies give back up to $50 just for signing your application digitally online.
- Fewer Miles Equal More Savings – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more off the personal injury premium cost.
- Resident Student – Youth drivers living away from home attending college and do not have a car can receive lower rates.
As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Most only cut the price of certain insurance coverages like comp or med pay. So when it seems like it’s possible to get free car insurance, you’re out of luck. Any qualifying discounts will help reduce your overall premium however.
For a list of providers with discount auto insurance rates, follow this link.
Smart shoppers get results
When buying insurance coverage, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, someone dropped comprehensive coverage or liability limits only to regret that the savings was not a smart move. The aim is to find the BEST coverage for the lowest price, not the least amount of coverage.
In this article, we presented many ideas to get a better price on BMW Z4 insurance. It’s most important to understand that the more price quotes you have, the better your comparison will be. You may even find the most savings is with some of the smallest insurance companies.
Affordable BMW Z4 insurance can be purchased both online as well as from independent agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
