Three Steps to Paying Less for BMW 323is Insurance
If shopping your car insurance around was fun, we'd do it much more often. Unfortunately, it's not always as easy as it sounds to get the best rate. Buying insurance on your BMW 323is might leave you feeling the same way.
Step One: Insurance Rate Comparison Quotes
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. Now that we have the internet, shopping for car insurance online is a snap!
The best car insurance companies offer online quoting for a BMW 323is and it's very easy to compare different rates by only using one form.
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Use the Same Coverages! It's really important that when doing multiple quotes for your 323is that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: Tricks to Saving Money on 323is Insurance
There are many contributing factors that determine what you pay to insure your BMW. You can help yourself (and your wallet) by paying attention to the following rate factors.
- You can definitely expect to pay a little more for insurance due to the performance level of your BMW 323is. Vehicles with less power and speed tend to cost less to insure.
- You can check your credit score for free once a year, and it's a good idea to address any problems you find. Better credit results in better insurance rates.
- Repairing accident damage generally costs more for the 323is because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- One of the easiest ways to cut your rates is to increase your comprehensive and collision deductibles. By having a higher deductible like $500 or even $1,000, you can save 30% or more on physical damage coverage.
- Even if you don't take advantage of the sporty nature of the 323is, other people will and you'll pay more for insurance based on the higher rating class of the vehicle.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- With age comes cheaper rates! If you're a senior citizen, many car insurance companies will give you a discount. Also, if you belong to a professional organization, check to see if your company gives discounts to members.
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- Particular years and models of cars tend to be frequently stolen, and if your 323is is on that list, chances are your insurance company knows it and will ding you a little extra because of it.
- Every parent dreads the day when their teenager gets added to their policy. If you are a teenager, or if you have one on your policy, expect to pay significantly more each year.
- Renters will find they may be paying more for insurance as compared to homeowners. Owning a home can often get you a small discount on your car insurance.
Step Three: Make an Informed Buying Decision
It's time to make a purchase decision based on your rate comparisions and and any policy coverage changes you wish to make. Once you are comfortable with the cost and coverages, you can finalize your purchase by paying your premium down payment.
On your new policy, double check that the effective date is the same as the date you are cancelling your old policy. This avoids any lapse in coverage which can cause an increase in your rates.
Coverage will extend from your current policy if you're buying a BMW 323is, but if you don't have a policy, you will need to make sure you have coverage in place before you drive it off the dealership lot. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
Once your new policy has been purchased, you are required to keep the proof-of-insurance card in your vehicle at all times. This is required by state law and you can receive a citation if you cannot provide it. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.
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