BMW 750Li Insurance for Tightwads
If buying car insurance was fun, we'd do it as a recreational sport. But unfortunately, it's difficult for a lot of people and we always seem to pay more than we should. Finding good insurance for your BMW 750Li probably leaves you feeling the same way.
Step One: 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. But you can now comparison shop and buy direct online!
The first step to finding lower BMW 750Li rates is to get quotes from all the major car insurance companies. This is fast and easy and only requires you to complete one form.
Take the first step by clicking the link below. By answering a few questions you'll be able to compare rates quickly and easily.
Quoting Tip! The only way to compare rates from multiple companies is to use identical coverage amounts and deductibles on each quote. If you use different limits on quotes, you cannot accurately determine which company has the best rates for your 750Li.
Step Two: How to Save on 750Li Insurance
Once you have quotes in hand, you can then consider some of the other techniques for lowering your 750Li insurance rates.
- The BMW 750Li is a higher performance vehicle, but do you really need the increased speed or power? Vehicles with more moderate performance are usually cheaper to insure.
- If you're not sure what your credit rating is, check it now. Car insurance companies use your credit score to determine the rates you pay, so the better your credit, the less you will pay.
- 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.
- Speeding and other minor violations can impact your car insurance rates for up to three years. The increased cost can easily exceed the fine and court costs for the original ticket.
- Homeowners often see a break on their car insurance rates because there is a correlation between owning a home and being a responsible driver.
- 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.
- 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.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- Driver's safety courses will often get you a discount off your rates. Check to see if your company offers the discount and find a qualifying class in your area.
- The advancement of car safety features such as traction control, stability control, front and side-impact air bags and all-wheel drive all help keep insurance costs down.
- If you're over the age of 55, check to see if you qualify for a senior citizen discount. Qualification age may vary by company
- 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.
- 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.
Step Three: Buy the Best Policy
If you have found a good price by comparing quotes and also made informed decisions regarding policy limits, deductibles and other policy options that are available, you can now purchase the policy and bind coverage.
Make sure to avoid any lapse in coverage by setting the new policy's effective date to be the same date you cancel your old policy. Otherwise you could be driving without any coverage.
Before you drive your BMW 750Li home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. 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 750Li at risk as soon as you drive away.
Upon completion of buying your policy, you need to print out the financial responsibility card that must be kept in your vehicle at all times. Replace any old cards and promptly replace expired cards. 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 read more about topics such as how to file a claim, replacement auto parts and mistakes to avoid, visit the Insurance Information Institute website.
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