Lower Your 2008 BMW 3 Series Insurance Rates

Feel like you’re a prisoner to an underperforming, overpriced insurance policy? Believe me, you are not the only one feeling buyer’s remorse.

Since consumers have many options when it comes to insurance, it can be hard to pick the lowest cost provider.

It’s a good habit to price shop coverage every six months because rates go up and down regularly. If you had the best deal on 3 Series insurance last year you will most likely find a better rate today. Forget all the misinformation about insurance because we’re going to demonstrate the easiest way to eliminate unnecessary coverages and save money.

Buying the best insurance coverage coverage is easy if you know what you’re doing. In a nutshell, everyone who buys insurance coverage should be able to find better rates. Although drivers benefit from understanding how big insurance companies market insurance on the web and take advantage of how the system works.

Discounts can save BIG

The price of auto insurance can be rather high, but you may find discounts to help bring down the price. Larger premium reductions will be automatically applied at quote time, but less common discounts must be asked for prior to receiving the credit.

  • Government Employees – Employees or retirees of the government can save as much as 8% on 3 Series insurance with certain companies.
  • Memberships – Being a member of a qualifying organization is a good way to get lower rates on insurance coverage on 3 Series insurance.
  • 55 and Retired – If you qualify as a senior citizen, you may be able to get better insurance coverage rates on 3 Series insurance.
  • Drive Less and Save – Fewer annual miles on your BMW could qualify for a substantially lower rate.
  • Claim Free – Drivers who don’t have accidents pay less when compared to accident-prone drivers.
  • Good Student – A discount for being a good student can earn a discount of 20% or more. The good student discount can last up to age 25.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to complete a driver education course in high school.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Discount for New Cars – Insuring a new car can be considerably cheaper because new vehicles have to meet stringent safety requirements.

As a disclaimer on discounts, most discounts do not apply to all coverage premiums. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, you won’t be that lucky. But all discounts will cut your overall premium however.

To see a list of companies with the best insurance coverage discounts, click here to view.

The quickest way to get policy rate comparisons utilizes the fact most of the bigger providers will pay a fee to quote your coverage. To get started, all you need to do is provide the companies a bit of rating information like if you’re married, your education level, the year, make and model of vehicles, and distance driven. The data gets transmitted to multiple companies and they return quotes very quickly.

Why you might be paying too much to insure your BMW 3 Series

An important part of buying insurance is that you know some of the elements that play a part in calculating car insurance rates. When you know what positively or negatively impacts premium levels allows you to make educated decisions that can help you get better car insurance rates.

  • Women pay lower rates – Statistics demonstrate that men are more aggressive behind the wheel. However, this does not mean men are WORSE drivers than women. Women and men cause accidents in similar percentages, but the men have costlier accidents. Men also statistically get cited for more serious violations such as DWI and reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and thus pay the highest rates.
  • Where you live – Choosing to live in less populated areas can save you money when buying car insurance. Fewer people translates into fewer accidents. Drivers in populated areas tend to have traffic congestion and longer commute times. Longer commute distances can result in more accidents.
  • Careful drivers pay lower rates – A bad driving record has a huge affect on how much you pay. Even one speeding ticket can boost insurance rates by as much as thirty percent. Careful drivers get better rates compared to drivers with tickets. If you have flagrant violations such as reckless driving, hit and run or driving under the influence may find they need to file a SR-22 with the DMV in their state in order to keep their license.
  • Pay less after the wedding – Being married can get you a discount on your policy. Having a significant other usually means you are more responsible and it’s proven that being married results in fewer claims.
  • Clean credit earns discounts – Having a bad credit rating is a big factor in your rate calculation. Drivers with high credit ratings tend to file fewer claims and have better driving records than drivers with lower credit ratings. If your credit score can use some improvement, you could save money insuring your 2008 BMW 3 Series by improving your credit score.
  • Do you have a high stress job? – Jobs such as lawyers, executives and dentists are shown to have the highest average rates because of stressful work requirements and long work hours. Other professions such as scientists, historians and the unemployed pay the least on 3 Series insurance.
  • Multi-policy discounts can save money – Some car insurance companies will award you with lower prices to people who carry more than one policy. It’s known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even with this discount, you still need to compare other company rates to verify if the discount is saving money.
  • How your age affects price – Young drivers tend to be more careless when behind the wheel so car insurance rates are higher. Older insureds are viewed as being more responsible, statistically cause fewer accidents and are safer drivers.

Will just any policy work for me?

When buying proper insurance coverage, there isn’t really a “perfect” insurance plan. Everyone’s situation is unique so your insurance should reflect that Here are some questions about coverages that could help you determine if your insurance needs may require specific advice.

  • I have good health insurance, so how much medical payments coverage do I need?
  • I have a DUI can I still get coverage?
  • Is my trailer covered?
  • When would I need additional glass coverage?
  • Does my policy pay for OEM or aftermarket parts?
  • Am I missing any policy discounts?

If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

Insurance coverage specifics

Having a good grasp of a insurance policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverage types found on the average insurance policy.

Uninsured and underinsured coverage

This coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Normally these coverages are identical to your policy’s liability coverage.

Comprehensive coverages

This pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as hail damage, vandalism, theft and fire damage. The highest amount a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance provide coverage for expenses for prosthetic devices, funeral costs and surgery. They are used to fill the gap from your health insurance plan or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision insurance

Collision coverage pays for damage to your 3 Series from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as crashing into a ditch, sustaining damage from a pot hole and crashing into a building. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Liability insurance

Liability coverage protects you from injuries or damage you cause to other people or property that is your fault. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/25 which means a limit of $25,000 per injured person, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability can pay for claims such as pain and suffering, medical services, legal defense fees, emergency aid and attorney fees. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible.

More effort can pay off

As you shop your coverage around, make sure you don’t buy poor coverage just to save money. Too many times, consumers will sacrifice comprehensive coverage or liability limits and learned later that the small savings ended up costing them much more. Your focus should be to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

Lower-priced 2008 BMW 3 Series insurance is definitely available on the web and also from your neighborhood agents, and you should be comparing both to have the best chance of lowering rates. Some insurance companies may not provide online quoting and these smaller companies work with independent agents.

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