Consumers have many options when looking for affordable BMW 335i insurance. You can either spend your time struggling with agents to get rate comparisons or utilize the internet to get rate quotes. There is a better way to compare car insurance rates so you’re going to learn the best way to price shop coverage for a BMW and obtain the lowest possible price from local insurance agents and online providers.
If you have car insurance now, you stand a good chance to be able to save some money using these techniques. This information will help educate you on how to effectively get price quotes and some money-saving tips. But drivers must understand the way companies market insurance on the web and use this information to your advantage.
How to Compare Car Insurance
The are a couple different ways to compare rate quotes and find the best price. The best way to find the cheapest BMW 335i insurance rates involves getting comparison quotes online. This is very easy and can be done in just a few minutes using one of these methods.
- Probably the best way to find the lowest comparison rates is an all-inclusive rate comparison like this one (opens in new window). This method saves time by eliminating separate forms for each company. Just one form compares rates from many national carriers. This is perfect if you don’t have a lot of time.
- A more difficult way to shop for car insurance online is to manually visit the website of each company to request a price quote. For example, let’s say you want rates from Farmers, GEICO and Allstate. To get each rate you have to spend time on each company’s site and enter your policy data, which is why the first method is quicker.
For a list of links to companies insuring cars in your area, click here.
Which method you use is up to you, but make sure you use exactly the same coverage limits for every company. If each company quotes differing limits it will be next to impossible to make a fair comparison for your BMW 335i. Having just a slight variation in insurance coverages could mean much higher rates. And when price shopping your coverage, getting more free quotes will increase your chances of finding a lower rate.
Don’t be fooled by advertising claims
Car insurance providers like GEICO, State Farm and Progressive consistently run ads on TV and radio. They all make an identical promise of big savings if you change to them. How do they all make almost identical claims? It’s all in the numbers.
All the different companies have a certain “appetite” for the driver that makes them money. For example, a desirable insured could be a mature driver, has no tickets, and has great credit. A propective insured who meets those qualifications is entitled to the best price and therefore will save quite a bit of money when switching.
Consumers who don’t measure up to this ideal profile will be quoted more money and this can result in the driver buying from a lower-cost company. The ads state “customers who switch” not “people who quote” save that much. That is how companies can truthfully state the savings. This emphasizes why you need to get a wide range of price quotes. You cannot predict which insurance companies will have the lowest rates.
Factors determining your BMW 335i insurance premium
Consumers need to have an understanding of the factors that play a part in calculating the price you pay for car insurance. When you know what positively or negatively impacts premium levels enables informed choices that will entitle you to big savings.
Shown below are a partial list of the pieces car insurance companies consider when setting prices.
- Higher safety ratings means cheaper insurance – Vehicles with high crash test scores get lower rates. The safest vehicles have better occupant injury protection and better occupant protection means lower claim amounts and lower rates for you. If your BMW scored better than four stars on Safercar.gov you may qualify for a discount.
- Rate your vehicle for proper use – Driving more miles in a year the more you’ll pay to insure your vehicle. Most companies apply a rate based on how the vehicle is used. Autos not used for work or commuting can get a lower rate than vehicles that are driven to work every day. Ask your agent if your car insurance coverage is rated on the proper vehicle usage, because it can save money. Incorrect usage on your 335i may be wasting your money.
- Too many car insurance claims drive up costs – If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Auto insurance companies generally give lower rates to people who do not file claims often. Your insurance policy is intended for major claims that would cause financial hardship.
- Males pay more for insurance – Statistics have proven that women are safer drivers than men. Now that doesn’t mean women are better drivers. Women and men are in accidents at a similar rate, but the men tend to have more serious accidents. Men also statistically have more aggressive citations such as reckless driving.
- Where you live is a factor – Residing in a rural area can be a good thing when insuring your vehicles. Drivers who live in large cities tend to have much more traffic and longer commute times. Fewer people means fewer accidents and a lower car theft rate.
- Extra coverages can waste money – There are a ton of add-on coverages that you can buy on your 335i policy. Coverages for personal injury protection, towing coverage and additional equipment coverage may be costing you every month. These may sound like a good investment at first, but now you might not need them so eliminate them to save money.
- Marriage brings a discount – Getting married can get you a discount on your policy. Marriage usually means you are more mature it has been statistically shown that married couples file fewer claims.
- A lapse in coverage is a bad thing – Driving without insurance is against the law and your next policy will cost more because you let your insurance expire. Not only will rates go up, failure to provide proof of insurance will get you a revoked license or a big fine.You may have to prove you have insurance by filing a SR-22 with your state motor vehicle department to get your license reinstated.
Do you qualify for discounts?
Companies don’t list every discount very clearly, so we break down some of the more common and the harder-to-find savings tricks you should be using.
- Early Switch Discount – Some companies give discounts for buying a policy before your current expiration date. It’s a savings of about 10%.
- Sign Online – Some insurance companies will discount your bill up to fifty bucks simply for signing online.
- Pay Upfront and Save – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- Passive Restraint Discount – Factory air bags or motorized seat belts can get savings of up to 25% or more.
- Auto/Home Discount – When you have multiple policies with the same insurance company you could get a discount of 10% to 20% off each policy.
- Low Mileage – Low mileage vehicles could be rewarded with a substantially lower rate.
- Auto/Life Discount – Companies who offer life insurance give better rates if you take out life insurance from them.
- Military Rewards – Having a family member in the military may qualify for rate reductions.
- Claim Free – Drivers with accident-free driving histories can earn big discounts when compared to drivers who are more careless.
Drivers should understand that most of the big mark downs will not be given to your bottom line cost. Most only cut individual premiums such as liability and collision coverage. So even though it sounds like all the discounts add up to a free policy, it doesn’t quite work that way.
To see a list of insurance companies with the best car insurance discounts, follow this link.
Don’t assume everyone needs the same coverage
When it comes to buying the best car insurance coverage, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that might help in determining whether your personal situation would benefit from an agent’s advice.
- Should I sign the liability waiver when renting a car?
- Am I covered when using my vehicle for business?
- Is my custom paint covered by insurance?
- Do I have coverage for damage caused while driving under the influence?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Who is covered by my policy?
- Is my business laptop covered if it gets stolen from my vehicle?
- Do I have coverage when making deliveries for my home business?
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form.
In conclusion
Drivers who switch companies do it for any number of reasons including an unsatisfactory settlement offer, questionable increases in premium, not issuing a premium refund and even high prices. Regardless of your reason for switching companies, switching car insurance companies is not as difficult as it may seem.
Cheaper BMW 335i insurance is attainable online as well as from independent agents, and you should compare price quotes from both to have the best rate selection. There are still a few companies who don’t offer the ability to get a quote online and these smaller companies work with independent agents.
You just read many ideas to save on BMW 335i insurance. The most important thing to understand is the more quotes you get, the better likelihood of reducing your rate. You may be surprised to find that the best price on car insurance is with a small local company.
