Cheap 1991 BMW 8 Series Insurance Rates

Looking for better insurance rates for your BMW 8 Series? Shopping for affordable insurance on the web can be problematic for beginners to comparison shopping online. With such a large number of insurance companies available, how can you even start to compare the different rates to find the lowest price available?

Why your BMW 8 Series might be costing you more

Smart consumers have a good feel for some of the elements that come into play when calculating insurance rates. When you know what positively or negatively determines base rates enables informed choices that can help you get better insurance rates.

The list below includes some of the items insurance companies consider when setting your rates.

  • More people means more accidents – Choosing to live in a small town can save you money when talking about insurance. City drivers regularly have traffic congestion and much longer commute distances. Fewer people means a lower chance of having an accident as well as less vandalism and auto theft.
  • Lower rates with optional equipment – Driving a car that has an advanced theft prevention system can help lower your rates. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder your vehicle from being stolen.
  • Better credit means lower rates – Your credit history is a large factor in determining what you pay for insurance. If your credit score is not that good, you could potentially save money when insuring your 1991 BMW 8 Series by improving your credit score. Drivers who have excellent credit tend to be better drivers and file fewer claims as compared to drivers with lower credit scores.
  • Pay less after the wedding – Being married helps lower the price when buying insurance. It translates into being more mature and statistics show drivers who are married are more cautious.
  • Always keep insurance in force – Allowing your insurance policy to lapse is a sure-fire way to increase your insurance rates. And not only will insurance be more expensive, failure to provide proof of insurance will get you a hefty fine and possibly a revoked license.
  • Protect your assets with liability insurance – Liability insurance provides coverage if ever you are found to be at fault for damages from an accident. Liability provides you with a defense in court which can be incredibly expensive. This coverage is very inexpensive compared to physical damage coverage, so do not skimp.
  • Add-on coverages can add up – There are a ton of add-on coverages that can waste your money if you aren’t careful. Coverages for roadside assistance, accident forgiveness and term life insurance are some examples. These may sound like a good investment when talking to your agent, but if they’re wasting money eliminate them to save money.

Take discounts and save

Car insurance is not cheap, but there are discounts available to help offset the cost. Most are applied at quote time, but some must be specially asked for before being credited.

  • Student Driver Training – Have your child take driver’s ed class if it’s offered in school.
  • Homeowners Savings – Owning a house can help you save on insurance coverage due to the fact that maintaining a home requires personal responsibility.
  • Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you can actually save on your bill.
  • Government Employees – Employees or retirees of the government may qualify you for a discount on 8 Series insurance depending on your company.
  • Auto/Home Discount – When you combine your home and auto insurance with one insurance company you may earn 10% to 20% off each policy.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and will save you 10% or more.

A little note about advertised discounts, most of the big mark downs will not be given to your bottom line cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though it may seem like having all the discounts means you get insurance for free, companies wouldn’t make money that way. Any qualifying discounts will bring down the amount you have to pay.

To see a list of companies who offer insurance coverage discounts, follow this link.

Which policy gives me the best coverage?

When it comes to choosing adequate coverage for your vehicles, there really is not a best way to insure your cars. Your needs are not the same as everyone else’s.

These are some specific questions might point out if you might need professional guidance.

  • Do I need more liability coverage?
  • Does coverage extend to Mexico or Canada?
  • Am I covered when pulling a rental trailer?
  • When should I not file a claim?
  • Is my state a no-fault state?
  • Does car insurance cover theft of personal property?
  • Should I buy full coverage?
  • Do I have coverage if my license is suspended?
  • Am I covered if my car is in a flood?

If you don’t know the answers to these questions but a few of them apply then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form.

Parts of your car insurance policy

Knowing the specifics of car insurance aids in choosing the best coverages for your vehicles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Collision coverage – This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like colliding with a tree, scraping a guard rail, backing into a parked car and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. You can also raise the deductible to bring the cost down.

UM/UIM Coverage – This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your BMW 8 Series.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive or Other Than Collision – Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as damage from a tornado or hurricane, hitting a bird, theft, damage from getting keyed and rock chips in glass. The most you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability car insurance – Liability insurance protects you from injuries or damage you cause to other people or property in an accident. This coverage protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as emergency aid, medical services, attorney fees, funeral expenses and legal defense fees. How much liability should you purchase? That is up to you, but you should buy higher limits if possible.

Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses such as rehabilitation expenses, dental work, ambulance fees, funeral costs and pain medications. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay

A tidy conclusion

We covered a lot of techniques to compare 1991 BMW 8 Series insurance prices online. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from some of the smallest insurance companies.

Low-cost insurance can be sourced both online in addition to many insurance agents, and you should be comparing both to have the best selection. Some insurance providers do not provide the ability to get a quote online and most of the time these small, regional companies sell through independent agents.

As you restructure your insurance plan, you should never skimp on critical coverages to save a buck or two. In many instances, an insured dropped liability coverage limits only to find out that they should have had better coverage. The proper strategy is to buy enough coverage for the lowest price, not the least amount of coverage.

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