Having to pay for overpriced auto insurance can drain your personal savings and make it impossible to make ends meet. Comparing price quotes is a great way to help make ends meet.
Companies like State Farm, Progressive and GEICO constantly bombard you with TV and radio ads and it is challenging if not impossible to avoid their marketing magic and take the time to shop coverage around.
If you are paying for car insurance now, you stand a good chance to be able to save some money using these methods. Finding the best rates is not that difficult. Nevertheless, drivers do need to understand how big insurance companies sell insurance online and apply this information to your search.
Factors determining your BMW 330i insurance premium
Consumers need to have an understanding of the rating factors that help determine the price you pay for auto insurance. Understanding what determines base rates empowers consumers to make smart changes that may reward you with better auto insurance rates.
The following are a few of the “ingredients” used by your company to calculate rates.
- Save money with special equipment – Driving a car that has an advanced theft prevention system can get you a discount on your auto insurance. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder car theft.
- Performance makes a difference – The make and model of the car you are buying insurance for makes a significant difference in determining your rates. Due to the fact that the BMW 330i is classified as a luxury sports car, insurance will be up to twice as much when compared to the average rates. Low performance passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
- Poor driving leads to higher costs – Your driving citation history impacts your car insurance rates tremendously. Drivers with clean records get better rates than their less careful counterparts. Even a single moving violation may increase your cost by twenty percent. Drivers who have dangerous citations such as hit and run, DWI or reckless driving convictions may need to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to prevent a license revocation.
- Never allow your policy to lapse – Letting your insurance expire is a quick way to increase your auto insurance rates. And not only will insurance be more expensive, getting caught without coverage can result in a license revocation or jail time.Then you may be required to file a SR-22 with your state department of motor vehicles.
- Don’t buy coverages you don’t need – There are a lot of add-on coverages you can purchase on your auto insurance policy. Insurance for rental car reimbursement, better glass coverage and term life insurance are some examples. These coverages may sound good when talking to your agent, but if they’re wasting money eliminate the coverages to reduce your premium.
- Lower deductibles cost more – The deductibles represent how much money you are required to spend in the event of a claim. Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some instances where coverage would apply could be colliding with a building, damage caused by hail, and burglary. The more money you are required to pay out-of-pocket, the less your auto insurance will be on 330i coverage.
- Discounts for multiple policies – Some companies provide better rates to people who buy several policies from them. It’s known as a multi-policy discount. Discounts can amount to anywhere from five to ten percent in most cases. If you currently are using one company, it’s still a good idea to comparison shop to make sure you are getting the best deal.
How to Buy Auto Insurance Online
The are a couple different ways of comparing rates from different insurance companies. The simplest method to find competitive BMW 330i insurance rates involves getting comparison quotes online. It is quite easy and can be accomplished in just a few minutes using one of these methods.
Probably the best way consumers can make multiple comparisons is to use a rate comparison form (click to open form in new window). This type of form eliminates the need for separate quotation requests for each company you want a rate for. One quote request gets rate comparisons from many national carriers.
A slightly less efficient method to compare rate quotes requires a trip to each company website to complete a price quote. For instance, we’ll assume you want rates from Auto-Owners, Liberty Mutual and State Farm. To get rate quotes you would need to spend time on each company’s site to input your insurance information, which is why the first method is more popular. To view a list of companies in your area, click here.
It’s your choice how you get your quotes, but make absolute certain that you use the exact same coverage limits and deductibles with each company. If your comparisons have different deductibles you will not be able to determine the lowest rate for your BMW 330i. Having just a slight variation in coverage limits may cause a big price difference. And when price shopping your coverage, quoting more provides better odds of finding a better price.
Take discounts and save
Car insurance is not cheap, but there are discounts available that can drop the cost substantially. Larger premium reductions will be automatically applied when you get a quote, but a few must be requested specifically before you get the savings.
- Anti-lock Brake System – Cars that have steering control and anti-lock brakes can reduce accidents and will save you 10% or more.
- Payment Discounts – By paying your policy upfront rather than paying monthly you can actually save on your bill.
- Homeowners Discount – Simply owning a home may trigger a auto insurance policy discount because of the fact that having a home demonstrates responsibility.
- Safety Course Discount – Taking part in a course teaching defensive driving skills could cut 5% off your bill depending on where you live.
- Student Driver Training – Have your child complete a driver education course if it’s offered in school.
- Safe Driver Discount – Drivers who avoid accidents can get discounts for up to 45% lower rates on 330i coverage than their less cautious counterparts.
- Auto/Life Discount – Companies who offer life insurance give a discount if you purchase auto and life insurance together.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10%.
- No Charge for an Accident – Certain companies permit an accident before your rates go up if your claims history is clear for a set time period.
It’s important to understand that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce specific coverage prices like collision or personal injury protection. So even though they make it sound like it’s possible to get free car insurance, auto insurance companies aren’t that generous. Any amount of discount will help reduce your premiums.
Which policy gives me the best coverage?
When it comes to choosing coverage for your personal vehicles, there really is not a best way to insure your cars. Your needs are not the same as everyone else’s and your policy should reflect that. For example, these questions may help you determine whether your personal situation might need professional guidance.
- What should my uninsured motorist coverage limits be in my state?
- Do I pay less if my vehicle is kept in my garage?
- What are the financial responsibility laws in my state?
- Are there companies who specialize in insuring high-risk drivers?
- Should I buy only the required minimum liability coverage?
- Am I getting all the discounts available?
- Does medical payments coverage apply to all occupants?
- Do I have coverage when making deliveries for my home business?
- Am I covered when driving in Canada or Mexico?
- At what point should I drop full coverage?
If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
The best insurance company isn’t always the cheapest
We just presented many tips how you can reduce BMW 330i insurance prices online. It’s most important to understand that the more times you quote, the better your chances of lowering your rates. You may even discover the biggest savings come from a lesser-known regional company. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.
Cost effective BMW 330i insurance is possible both online and also from your neighborhood agents, and you need to comparison shop both to get a complete price analysis. A few companies may not provide online price quotes and most of the time these regional insurance providers sell through independent agents.
