2011 BMW 3 Series Car Insurance Rates

Searching for the cheapest insurance coverage rates for your BMW 3 Series? Are you sick and tired of trying to scrape together enough money each month for car insurance? Your situation is no different than millions of other consumers. Drivers have so many car insurance companies to pick from, and although it’s a good thing to have a selection, having more insurance companies makes it harder to find the lowest cost provider.

Finding affordable coverage is easy if you know what you’re doing. If you have insurance now or need new coverage, you can follow these tips to find better prices while maintaining coverages. Consumers only need to know the tricks to compare prices online.

BMW 3 Series rate determination is complex

Consumers need to have an understanding of the rating factors that come into play when calculating the rates you pay for insurance coverage. Having a good understanding of what influences your rates empowers consumers to make smart changes that will entitle you to lower insurance coverage prices.

  • Never let your coverage lapse – Allowing your coverage to lapse is a quick way to trigger a rate increase. And not only will your rates increase, but not being able to provide proof of insurance might get you a hefty fine and possibly a revoked license.You may then be required to file a SR-22 with your state motor vehicle department.
  • Teen drivers pay high rates – Mature drivers tend to be more responsible, statistically cause fewer accidents and get fewer tickets. Teenage drivers tend to be less responsible in a vehicle therefore insurance coverage rates are much higher.
  • Poor credit can mean higher rates – Having a bad credit score is a big factor in your rate calculation. Consumers who have excellent credit tend to be less risk to insure as compared to drivers with lower credit ratings. If your credit rating is low, you could potentially save money when insuring your 2011 BMW 3 Series by improving your credit score.
  • Better crash test results mean better rates – Cars with high safety ratings tend to have better insurance rates. These vehicles reduce injuries and lower injury rates translates into savings for insurance companies and thus lower rates. If your BMW 3 Series has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • Liability coverage is cheap – Liability coverage is the protection in the event that a court rules you are at fault for causing damage or personal injury in an accident. It provides legal defense which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so drivers should carry high limits.
  • Claim-free discounts can add up – If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Car insurance companies generally give better rates to drivers who are claim-free. Your insurance policy is intended for major claims that would cause financial hardship.
  • Bundling policies can get discounts – Some companies provide better rates to policyholders who buy several policies from them in the form of a multi-policy discount. Even though this discount sounds good, you still need to shop around to make sure you are getting the best deal.
  • Lower deductibles cost more – Your deductibles represent how much money you are required to spend out-of-pocket if you file a covered claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. Some examples of claims that would be covered are colliding with a building, vandalism, and rolling your vehicle. The more expense the insured has to pay upfront, the less your company will charge you for insurance on 3 Series coverage.

Don’t overlook these discounts

Companies that sell car insurance don’t always publicize every discount in a way that’s easy to find, so the following is a list of some of the more common as well as the least known auto insurance savings. If you aren’t receiving every discount possible, you’re just leaving money on the table.

  • Student Driver Training – Have your child enroll in driver’s education if offered at their school.
  • Payment Discounts – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
  • Senior Citizens – Older drivers can possibly qualify for better auto insurance rates on 3 Series coverage.
  • Low Mileage – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
  • Discounts for Safe Drivers – Drivers who don’t get into accidents may receive a discount up to 45% less on 3 Series coverage than drivers with accidents.
  • Multiple Cars – Insuring all your vehicles on one policy may reduce the rate for each vehicle.
  • Life Insurance – Select insurance companies reward you with better rates if you take out life insurance.
  • Discount for Good Grades – A discount for being a good student can be rewarded with saving of up to 25%. The discount lasts until age 25.
  • Discount for New Cars – Insuring a new car can save up to 30% since new cars are generally safer.
  • Student in College – Youth drivers living away from home attending college and do not have a car may be able to be covered for less.

It’s important to note that many deductions do not apply to all coverage premiums. Most cut the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like all the discounts add up to a free policy, companies don’t profit that way.

A partial list of companies that may offer these benefits are:

Before buying, ask each insurance company which discounts they offer. All car insurance discounts might not be offered everywhere.

Is there truth in advertising?

Consumers constantly see and hear ads for cheaper car insurance from the likes of Progressive, Allstate and Geico. All the ads make an identical promise that you’ll save big if you switch your coverage to them.

But how can every company claim to save you money? This is how they do it.

All the different companies have a certain “appetite” for the right customer that earns them a profit. An example of a preferred risk could be between the ages of 30 and 50, has no tickets, and chooses high deductibles. Any driver who matches those parameters will get very good rates and most likely will cut their rates substantially.

Potential customers who don’t measure up to the requirements will be quoted a more expensive rate which leads to the customer not buying. The ad wording is “customers who switch” not “everyone that quotes” save that much money. This is how insurance companies can make the claims of big savings. This emphasizes why you need to get as many quotes as possible. Because you never know which insurance company will have the lowest BMW 3 Series insurance rates.

Is my situation unique?

When it comes to choosing proper insurance coverage for your personal vehicles, there really is no best way to insure your cars. Everyone’s situation is unique so this has to be addressed. For example, these questions might help in determining if you might need professional guidance.

  • Do I really need UM/UIM coverage?
  • Should I waive the damage coverage when renting a car?
  • Are there companies who specialize in insuring high-risk drivers?
  • What should my uninsured motorist coverage limits be in my state?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Does coverage extend to my business vehicle?
  • Do I need medical payments coverage since I have good health insurance?
  • Can I still get insurance after a DUI?
  • If I drive on a suspended license am I covered?
  • Are split liability limits better than a combined single limit?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier It only takes a few minutes and may give you better protection.

Car insurance 101

Having a good grasp of auto insurance can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. These are typical coverage types offered by auto insurance companies.

Collision coverage

This covers damage to your 3 Series caused by collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things like sideswiping another vehicle, colliding with a tree, rolling your car and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to raise the deductible in order to get cheaper collision rates.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like chiropractic care, doctor visits and dental work. They are often utilized in addition to your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 3 Series.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Comprehensive or Other Than Collision

This pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like falling objects, a broken windshield and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability coverages

Liability coverage can cover injuries or damage you cause to a person or their property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability can pay for claims such as repair bills for other people’s vehicles, loss of income and attorney fees. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.

And the best car insurance company is…

We just covered many tips how you can get a better price on 2011 BMW 3 Series insurance. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding lower rates. You may even discover the lowest priced car insurance comes from a lesser-known regional company. Some small companies can often insure niche markets at a lower cost compared to the large companies like Allstate or State Farm.

When trying to cut insurance costs, never buy less coverage just to save a little money. In many cases, consumers will sacrifice liability limits or collision coverage only to regret they didn’t purchase enough coverage. The aim is to buy the best coverage you can find at an affordable rate.

More resources