Having to pay for overpriced car insurance can dwindle your checking account and force you to make sacrifices. Comparison shopping is a smart way to tighten up your finances.
Numerous car insurance companies battle for your hard-earned dollar, and because of this it can be hard to compare insurance companies and get the definite best price available.
It’s a good idea to get comparison quotes once or twice a year due to the fact that insurance rates are usually higher with each renewal. If you had the lowest rates on 330i M insurance last year you can probably find a better price now. Block out anything you think you know about car insurance because you’re about to learn one of the quickest ways to find better coverage at a better price.
Pay less by taking advantage of discounts
Companies do not advertise all their discounts very well, so we break down some of the more common and also the lesser-known discounts you could be receiving.
- Auto/Life Discount – Companies who offer life insurance give a discount if you purchase life insurance.
- 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for a discount up to 10% on 330i M insurance.
- Anti-lock Brake System – Cars that have steering control and anti-lock brakes prevent accidents and earn discounts up to 10%.
- Multiple Vehicles – Insuring multiple vehicles on one policy qualifies for this discount.
- Passive Restraints and Air Bags – Factory air bags can qualify for discounts up to 30%.
- No Accidents – Claim-free drivers can earn big discounts compared to frequent claim filers.
- Discount for New Cars – Buying coverage on a new vehicle can be considerably cheaper due to better safety requirements for new cars.
- Lower Rates for Military – Having a family member in the military could be rewarded with lower premiums.
A little note about advertised discounts, many deductions do not apply to your bottom line cost. Most only cut individual premiums such as liability, collision or medical payments. So even though they make it sound like you can get free auto insurance, it just doesn’t work that way.
To see a list of insurers offering car insurance discounts, follow this link.
How to Get Cheap Car Insurance
All major car insurance companies such as State Farm, GEICO and Progressive provide price estimates on the web. Getting online quotes is pretty easy as you simply enter your coverage information into a form. Behind the scenes, their rating system automatically orders your driving and credit reports and returns pricing information determined by many factors. This makes it a lot easier to compare rates but the time required to go to several different sites and enter the same data into a form is repetitive and time-consuming. Unfortunately, it is important to perform this step if you want to find the best price on car insurance.
A quicker way to compare rates requires only one form that obtains quotes from several different companies. It’s a real time-saver, eliminates repetitive work, and makes quoting online much more enjoyable and efficient. After sending your information, it is rated and you can choose your choice of the resulting price quotes. If the quotes result in lower rates, you simply finish the application and purchase coverage. It can be completed in less than 10 minutes and can result in significant savings.
To save time and get comparison pricing now, click here to open in a new tab and begin entering your coverage information. If you have your current policy handy, we recommend you input the insurance coverages as shown on your current policy. This guarantees you’re receiving an apples-to-apples comparison for similar insurance coverage.
Why your BMW 330i M insurance rates may be high
Smart consumers have a good feel for some of the elements that help determine the price you pay for car insurance. Understanding what impacts premium levels empowers consumers to make smart changes that may reward you with better car insurance rates.
The following are some of the factors used by your company to calculate rates.
- Lower deductibles cost more – Deductibles for physical damage define the amount you are willing to pay out-of-pocket in the event of a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. A few examples of covered claims could be running into the backend of another car, damage from fire, and burglary. The more you have to pay, the less your car insurance will be on 330i M insurance.
- Battle of the sexes – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that men are worse drivers. Women and men have accidents in similar numbers, but the men cause more damage. Men also statistically receive more costly citations such as DWI and reckless driving. Youthful male drivers tend to get in the most accidents and therefore are the most expensive to insure.
- Rates may be higher depending on your occupation – Did you know your job can affect your rates? Occupations such as real estate brokers, executives and stock brokers are shown to have the highest rates because of stressful work requirements and long work days. On the other hand, professions such as pilots, students and homemakers pay the least on 330i M insurance.
- Lower miles equals lower premium – Driving more miles in a year’s time the higher your rate. Most companies charge to insure your cars based upon how you use the vehicle. Autos not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Ask your agent if your car insurance coverage properly reflects the proper vehicle usage. If your policy improperly rates your 330i M may be wasting your money.
- Pay less after the wedding – Having a spouse can get you a discount when buying car insurance. Having a spouse translates into being more mature and statistics show married drivers get in fewer accidents.
- Poor driving leads to higher costs – Whether or not you get tickets has a big impact on rates. Only having one ticket can bump up the cost by twenty percent. Drivers who don’t get tickets receive lower rates compared to drivers with tickets. Drivers with flagrant tickets such as DUI or reckless driving are required to submit a SR-22 or proof of financial responsibility with their state DMV in order to keep their license.
Do I need special coverages?
When choosing the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different so your insurance should reflect that For example, these questions might point out if your situation might need an agent’s assistance.
- Does my policy cover my teen driver if they drive my company car?
- What if I don’t agree with a claim settlement offer?
- Is my custom paint covered by insurance?
- Am I covered when delivering products for my home-based business?
- Do I pay less if my vehicle is kept in my garage?
- Am I covered if I drive in a foreign country?
If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier
Neighborhood agents for car insurance
A small number of people would prefer to buy from a local agent. The biggest benefit of price shopping on the web is the fact that you can find the lowest rates and still have an agent to talk to.
Upon completion of this quick form, your information is submitted to participating agents who will battle for your coverage. You won’t need to even leave your home since price quotes are sent to your email. Now that’s easy! You’ll get the best rates and a licensed agent to work with.
Selecting an insurance company requires more thought than just the premium amount. Any agent should have no problem answering these questions:
- How long has their agency been open?
- Is the agent and/or agency licensed to do business in your state?
- Which company do they place the most coverage with?
- What are the financial ratings for the companies they represent?
- How much will you save each year by using a higher deductible?
- Are they able to influence company decisions when a claim is filed?
- What will you get paid if your car is a total loss? How is that amount determined?
- How are they compensated?
Different types of insurance agencies
When looking for a reliable agent, there are two types of insurance agents that you can select. Agents can either be captive or independent.
Captive Insurance Agents
This type of agents write business for a single company like American Family, State Farm and Allstate. They generally cannot place coverage with different providers so always compare other rates. They are usually quite knowledgeable on their company’s products which can be an advantage.
Independent Agencies or Brokers
Independent agents are not employed by any specific company so they can insure your vehicles with multiple insurance companies enabling the ability to shop coverage around. To move your coverage to a new company, the agent simply finds a different carrier and you won’t have to switch agencies. When searching for an agent, you should always include at least one independent agent to have the most options to choose from.
To view a full list of insurance agents, click here.
Once you have satisfactory answers to these questions in addition to an acceptable price estimate, you have narrowed it down to an auto insurance agent that is a good match to adequately provide car insurance.
Smart consumers save more
As you prepare to switch companies, it’s very important that you do not reduce coverage to reduce premium. In too many instances, consumers will sacrifice full coverage and learned later that their decision to reduce coverage ended up costing them more. The ultimate goal is to find the BEST coverage at the best price.
We’ve covered some good ideas how you can save on BMW 330i M insurance. The most important thing to understand is the more rate comparisons you have, the better likelihood of reducing your rate. Drivers may discover the biggest savings come from some of the smallest insurance companies. These companies may have significantly lower rates on certain market segments as compared to the big name companies such as Progressive or GEICO.
