Trying to find better insurance prices for your BMW 750il can turn out to be a painful process, but you can use a few tricks to find lower rates. There is a better way to buy auto insurance and you need to know the quickest way to get price quotes for a new or used BMW and find the lowest price from local insurance agents and online providers.
It is always a good idea to take a look at other company’s rates before your policy renews due to the fact that insurance rates are usually higher with each renewal. Even if you got the best rates on 750il insurance on your last policy there may be better deals available now. Block out anything you think you know about auto insurance because you’re about to find out the fastest way to lower your rates without sacrificing coverage.
If you currently have a car insurance policy, you stand a good chance to be able to reduce your rates substantially using these techniques. Buying cheaper auto insurance is quite easy. But consumers need to learn how companies market on the web because it can help you find the best coverage.
Compare the Market for Auto Insurance
Most major insurance companies provide pricing online. Getting quotes doesn’t take much effort as you just type in the amount of coverage you want into the quote form. When complete, their rating system makes automated requests for your driving and credit reports and returns a price quote based on these and other factors.
This helps simplify price comparisons, but the process of having to visit several different sites and enter the same data into a form is not the best way to spend an afternoon. But it’s absolutely necessary to get many rate quotes in order to get better prices.
There is a better way to compare rates
The preferred way to find lower prices is to use a quote form that gets prices from multiple companies. It saves time, requires much less work on your part, and makes rate comparisons a lot less work. Once the form is submitted, it gets priced and you can choose your choice of the quote results. If a lower price is quoted, it’s easy to complete the application and purchase coverage. The entire process just takes a couple of minutes and may save quite a bit of money.
If you want to compare pricing, click here to open in new window and submit your coverage information. If you have a policy now, it’s recommended you replicate the insurance coverages just like they are on your policy. This ensures you will have an apples-to-apples comparison for exact coverage.
Can you really save $439 a year?
Auto insurance providers like Progressive, GEICO, Allstate and State Farm continually stream ads in print and on television. They all make the same claim of big savings after switching your coverage to them. How can each company say the same thing? This is how they do it.
All companies have a preferred profile for the right customer they prefer to insure. For example, a driver they prefer might be profiled as over the age of 50, insures multiple vehicles, and has great credit. Any driver who meets those qualifications will qualify for the lowest rates and as a result will probably cut their rates substantially.
Potential insureds who are not a match for the “perfect” profile will be charged higher rates and this can result in the customer not buying. Company advertisements say “customers that switch” but not “drivers who get quotes” save that much. That’s why insurance companies can claim big savings. That is why you need to get quotes from several different companies. It’s not possible to predict which insurance companies will give you the biggest savings.
Cut your auto insurance rates with discounts
Companies don’t always publicize every available discount in an easy-to-find place, so here is a list both well-publicized as well as the least known savings tricks you should be using.
- Discount for Good Grades – This discount can save 20 to 25%. The discount lasts until age 25.
- Passive Restraints and Air Bags – Factory air bags or automatic seat belts can receive discounts of 20% or more.
- Life Insurance – Companies who offer life insurance give lower rates if you buy auto and life insurance together.
- Theft Prevention Discount – Cars that have factory anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Military Discounts – Having a family member in the military could be rewarded with lower premiums.
- Paperless Signup – Some insurance companies will give a small break just for signing your application on their website.
Consumers should know that most of the big mark downs will not be given to the entire cost. A few only apply to specific coverage prices like liability and collision coverage. Just because it seems like you could get a free auto insurance policy, you’re out of luck.
Are insurance agents a thing of the past?
Certain consumers would prefer to visit with an insurance agent and there is nothing wrong with that. The best thing about price shopping on the web is that you can obtain the lowest rates but also keep your business local.
To help locate an agent, after submitting this quick form, your insurance coverage information gets sent to participating agents who will give you bids for your insurance coverage. You never need to drive around as quotes are delivered immediately to your email address. It doesn’t get any easier! Get lower rates AND a local agent.
Deciding on an insurer requires more thought than just a low price. Any agent should be forthright in answering these questions:
- Does the agency have a good rating with the Better Business Bureau?
- Do the companies they represent have a solid financial rating?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- How long has their agency been open?
- Who is covered by the car insurance policy?
- Do they carry Errors and Omissions coverage?
- Do they feel the quoted coverages are adequate?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
Is a captive or independent auto insurance agent right for you?
When researching a local agent, there are two different agency structures from which to choose. agents are classified as either captive or independent (non-captive).
Captive Agents
Captive agents can only place business with one company and some examples include Allstate, AAA, Liberty Mutual and State Farm. They generally cannot shop your coverage around so they are skilled at selling on more than just price. Captives are usually quite knowledgeable on the products they sell which helps them sell insurance even at higher premiums. Consumers frequently purchase coverage from captives partially due to high brand loyalty and the convenience of having a single billing for all their coverages.
Independent Agents
Independent agencies are not required to write business for one company but instead can place your coverage with lots of companies depending on which coverage is best. To transfer your coverage to a different company, they simply move the coverage in-house and that require little work on your part. When searching for an agent, it’s recommended you contact at a minimum one independent agency to ensure the widest selection of prices. They also have the ability to place coverage with smaller regional carriers which may provide better rates.
For a full directory of agencies, visit this site.
Upon getting good answers to your questions and an affordable coverage quote, you’ve probably found an insurance agent that is a good match to provide auto insurance coverage.
Your personal situation dictates your coverage
When it comes to choosing coverage for your vehicles, there really is not a “perfect” insurance plan. Every insured’s situation is different.
These are some specific questions might help in determining if your insurance needs might need professional guidance.
- Is my babysitter covered when using my vehicle?
- When should I not file a claim?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Should I buy more coverage than the required minimum liability coverage?
- I don’t drive much so do I pay less?
- Can I afford low physical damage deductibles?
If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form.
Cheaper insurance is a realistic goal
We covered a lot of information how to save on BMW 750il insurance. The key thing to remember is the more times you quote, the better your chances of lowering your rates. Drivers may discover the lowest priced auto insurance comes from a small local company.
Insureds switch companies for any number of reasons including extreme rates for teen drivers, delays in responding to claim requests, questionable increases in premium and policy non-renewal. Regardless of your reason for switching companies, finding a new company can be less work than you think.
When trying to cut insurance costs, make sure you don’t buy poor coverage just to save money. There have been many situations where an accident victim reduced physical damage coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to find the BEST coverage for the lowest price.
