1998 BMW 7 Series Insurance Cost

Looking for the cheapest auto insurance rates for your BMW 7 Series? Finding lower rates for auto insurance is difficult for people who are new to buying insurance online. People have so many choices that it can quickly become a ton of work to compare prices.

Save big with these discounts

Auto insurance companies do not advertise every available discount in a way that’s easy to find, so we took the time to find both well-publicized and the more hidden discounts you could be receiving.

  • Distant Student – Youth drivers who are attending college and do not have a car can receive lower rates.
  • Anti-lock Brake Discount – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
  • Good Students Pay Less – This discount can earn a discount of 20% or more. This discount can apply up until you turn 25.
  • 55 and Retired – If you’re over the age of 55, you may be able to get a discount up to 10% on 7 Series insurance.
  • Early Switch Discount – Some companies give discounts for signing up before your current expiration date. It’s a savings of about 10%.

Drivers should understand that most credits do not apply to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, you’re out of luck.

To see a list of insurers who offer insurance discounts, click here to view.

But I don’t know anything about car insurance

When it comes to choosing coverage for your vehicles, there really is no perfect coverage plan. Each situation is unique.

These are some specific questions may help highlight whether you might need professional guidance.

  • How can I find cheaper teen driver insurance?
  • Are my tools covered if they get stolen from my vehicle?
  • Does my personal policy cover me when driving out-of-state?
  • Do I need rental car coverage?
  • Am I covered if I drive in a foreign country?
  • What is UM/UIM insurance?

If you don’t know the answers to these questions, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form.

Specific coverage details

Knowing the specifics of your auto insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for expenses such as hospital visits, X-ray expenses, prosthetic devices and funeral costs. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. It covers you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your BMW 7 Series.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive insurance

This coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like hitting a bird, vandalism, falling objects and fire damage. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Liability car insurance

Liability coverage can cover damage that occurs to a person or their property by causing an accident. This coverage protects you against claims from other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability insurance covers things like structural damage, emergency aid and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but buy as much as you can afford.

Coverage for collisions

This coverage will pay to fix damage to your 7 Series from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as crashing into a building, driving through your garage door, sideswiping another vehicle, damaging your car on a curb and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.

Have the Midas touch

Lower-priced 1998 BMW 7 Series insurance can be sourced both online and also from your neighborhood agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance companies may not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

While you’re price shopping online, never sacrifice coverage to reduce premiums. There are many occasions where drivers have reduced liability coverage limits and found out when filing a claim that it was a big error on their part. Your goal should be to find the BEST coverage at a price you can afford, not the least amount of coverage.

We just showed you many ways to save on insurance. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Consumers may even find the best prices are with a lesser-known regional company.

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