How to Insure your BMW 328ci on a Tight Budget
If finding the lowest rate on car insurance was easy, most people would have no trouble paying less. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. Finding affordable insurance for your BMW 328ci is probably the same story.
Step One: Compare Online Rate Quotes
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. Welcome to the NEW way to buy car insurance!
You can now shop all the best car insurance companies and compare rates for a BMW 328ci and you don't even have to visit each individual website!
Start a free rate quote comparison now by clicking the link below. Once you complete the short form, you'll be able to compare rates and then move on to our next section on how to lower rates even further.
Important Tip! In order to accurately compare rates for your 328ci, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Tried and True Ways to Save on 328ci Insurance
How much impact insuring your BMW has on your wallet is controlled by many different factors. Here are some ways to reduce the negatives and improve the positives.
- Vehicles that are considered high performance will have a higher insurance price tag that your average family sedan. The BMW 328ci is no exception.
- Thieves tend to steal certain makes and models of vehicles more than others, and if your car is on that list, expect to pay higher insurance rates because of it.
- OEM repair parts for the 328ci cost more due to the higher quality. You will pay more for insurance because of this.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- Let's face it, you aren't driving a 328ci because of the fuel economy. You like the looks and performance and you'll pay a little more for insurance because you're driving a sports car.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- Most BMW vehicles come with standard safety features such as air bags and passive restraints, and those will help keep your insurance costs down.
- Allowing your insurance to lapse for any length of time will increase the cost of a new policy. Always keep coverage in force.
- Most of us have received a ticket at one time or another. If you get a ticket for a minor violation, find out if there is a safe driving class you can take to keep the ticket off your driving record.
- Successfully completing a driver's training class can help lower your rates if your insurance company offers that discount.
- Youthful or teen drivers that are rated on any vehicle will cost more. The inexperience and tendancy to enjoy going fast is a recipe for an accident.
- One of the best ways to lower your insurance rates is to raise your credit score. Check your rating once a year and make sure to address any problem areas immediately.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
Step Three: Finalize your Car Insurance Policy
Knowing which company to insure your 328ci with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
An important thing to keep in mind when buying a new policy is you want the effective date of the new policy to be the exact same as the date you are cancelling your old policy.
If the BMW 328ci is a new purchase and you haven't had car insurance before, make sure you have coverage in place before driving off the lot. If you have other vehicles already covered, then you will have coverage for the new vehicle. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
Recent Blog Articles
