Find More Affordable Insurance for your BMW 740i
If we enjoyed shopping for car insurance, we'd do it more often. But the reality is, it's a chore for most people and we seem to always end up paying more than we want to. Buying insurance on your BMW 740i might leave you feeling the same way.
Step One: Get Insurance Quotes
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. Thanks to the internet, insurance shopping is a whole lot easier!
You can compare insurance rates for a BMW 740i simply and quickly just by filling out one form. This allows you to quote the same coverages with multiple companies and pick the lowest rate.
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.
Quote Tip! When doing car insurance quotes for your 740i, make sure you use the exact same values for coverages and deductibles. If you use different limits, you will not be able to fairly compare rates between different companies.
Step Two: How to Insure your 740i for Less
After completing step one and having some rates to compare, you can now focus on policy and lifestyle modifications that will lower your 740i insurance rates.
- You can definitely expect to pay a little more for insurance due to the performance level of your BMW 740i. Vehicles with less power and speed tend to cost less to insure.
- Insurance companies often give discounts to senior citizens and professional organizations, so if you're one of those, check to see if you qualify.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- 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.
- Many insurance companies will give you a small discount if you've recently completed a driver's training course.
- If your BMW is equipped with safety features such as airbags, anti-lock brakes or a security system, insurance companies will often give a minor discount for those.
- If you're willing to shoulder more of the cost at claim time, consider raising your comprehensive and collision deductibles. This can easily cut 30% or more from your policy premium.
- Auto theft is a big problem that costs us all money, but if your car is on the list of the most frequently stolen autos, you might be paying a little extra because of the temptation to thieves.
- To keep your rates low, don't file excessive claims on your policy. Insurance is meant to cover large losses, not small damage that you can pay for out-of-pocket.
- Renting a house or apartment rather than owning a home may keep you from paying the lowest rates on car insurance. Home ownership is viewed as being more financially responsible than renting.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- Car insurance rates for a teen driver on a BMW 740i will be expensive no matter what kind of coverage you have. But if you don't need comprehensive and collision, consider dropping those to save money.
- When buying a new policy, you do not want a gap in coverage. This lapse is viewed by insurance companies as a high risk, and you will pay more for your next policy.
Step Three: Make an Informed Buying Decision
Once you have compared identical rate quotes for your 740i and made a decision on deductibles, coverages and other policy options, you are ready to buy your policy with the new company.
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.
If you already have a car insurance policy, then your BMW 740i will be covered as soon as your purchase it. If this is your first vehicle, you will want to make sure you have coverage in place as soon as your purchase it. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new 740i at risk as soon as you drive away.
At the end of buying your policy, you will be able to print out a new proof-of-insurance card to place in your vehicle. This card is required by law and must be produced if requested by law enforcement. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
To find out more information such as auto insurance myths, rental car insurance and how to file a claim, visit the Insurance Information Institute website.
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