2016 BMW 7 Series Insurance Quotes

Searching for cheaper insurance coverage rates for your BMW 7 Series? If you are a novice to online insurance coverage shopping, you can easily be baffled by the vast assortment of online companies that all promise the best rates.

If you currently have a car insurance policy, you stand a good chance to be able to save some money using these techniques. Locating the best protection is not that difficult. But drivers benefit from understanding how insurance companies compete online and apply this information to your search.

How to find the cheapest insurance

Comparing insurance rates can take time and effort if you don’t know the most efficient way to do it. You can waste hours discussing policy coverages with local insurance agents in your area, or you can stay home and use the internet to get pricing more quickly.

Most of the best insurance companies are enrolled in a marketplace that allows shoppers to complete one form, and each participating company can give them a price based on that data. This prevents consumers from doing repetitive form submissions for each company.

To submit your quote information now, click to open in new window.

The only drawback to getting quotes like this is you are unable to specify which providers to get pricing from. So if you prefer to pick from a list of companies to compare, we put together a list of companies who write insurance in your area. Click here to view list.

It’s your choice how you get your quotes, but do your best to enter apples-to-apples quote data for each comparison quote. If you have different values for each quote it will be impossible to get a fair rate comparison. Quoting even small variations in insurance coverages or limits could mean much higher rates. And when comparing insurance rates, know that comparing more company’s prices helps increase your odds of locating more affordable rates. Some regional insurers cannot provide prices over the internet, so it’s important to also get quotes from them, too.

Use discounts on car insurance

The cost of insuring your cars can be expensive, but you can get discounts that could drop your premiums quite a bit. Many discounts should be triggered at the time you complete a quote, but occassionally some discounts must be asked about before they will apply.

  • Bundle and Save – If you combine your home and auto policies and insure them with the same company you could save over 10 percent off each policy depending on the company.
  • Payment Discounts – By paying your policy upfront instead of paying each month you may have a lower total premium amount.
  • Distant Student Discount – living away from home attending college and do not have access to a covered vehicle may be insured at a cheaper rate.
  • Buy New and Save – Putting car insurance coverage on a new car can cost up to 25% less since new vehicles have better safety ratings.
  • Theft Prevention Discount – Cars equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
  • Seat Belts Save more than Lives – Requiring all passengers to use their safety belts can save a little off the PIP or medical payment premium.
  • Switch and Save Discount – Some larger companies reward drivers for switching policies before your current expiration date. Ten percent is about the average savings.
  • Anti-lock Brake Discount – Cars and trucks that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.

One thing to note about discounts is that most discounts do not apply the the whole policy. Most only cut individual premiums such as medical payments or collision. So even though you would think you could get a free car insurance policy, it just doesn’t work that way. Any qualifying discounts will bring down your premiums.

Larger car insurance companies and their offered discounts are detailed below.

  • The Hartford policyholders can earn discounts including driver training, good student, bundle, anti-theft, and air bag.
  • American Family has savings for Steer into Savings, bundled insurance, mySafetyValet, defensive driver, air bags, and early bird.
  • Progressive may include discounts for online quote discount, online signing, multi-vehicle, homeowner, continuous coverage, multi-policy, and good student.
  • Travelers offers discounts for driver training, new car, hybrid/electric vehicle, payment discounts, early quote, and save driver.
  • Farmers Insurance has discounts for early shopping, multi-car, pay in full, mature driver, and youthful driver.
  • USAA offers premium reductions for family discount, multi-policy, loyalty savings, annual mileage, vehicle storage, and driver training.
  • Liberty Mutual includes discounts for new move discount, exclusive group savings, safety features, new graduate, newly retired, and multi-car.

Before buying, ask each company to apply every possible discount. Some of the earlier mentioned discounts might not be offered on policies in your area. If you would like to choose from a list of insurance companies who offer car insurance discounts, click here.

Find more affordable insurance coverage with these tips

Lots of things are used when you quote your car insurance policy. Some are obvious such as traffic violations, although others are less apparent such as your credit history or how safe your car is.

The following are a partial list of the pieces insurance coverage companies consider when setting your rate level.

  • Gender impacts prices – The statistics show that females tend to be a little less risky than males. However, don’t assume that women are BETTER drivers than men. Both genders get in fender benders in similar numbers, but guys cause more damage and cost insurance companies more money. In addition to higher claims, males also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Male drivers age 16 to 19 are several times more likely to be in an accident and therefore pay the highest rates.
  • Coverage deductibles are a factor – Your deductibles define the amount you are required to spend before your insurance coverage pays a claim. Insurance for physical damage to your car, also called comprehensive and collision insurance, protects your car from damage. Examples of some claims that would be covered would be rearending another vehicle, hail damage, and damage from wind. The more money you pay before a claim is paid (deductible), the better rate you will receive on 7 Series insurance.
  • Higher insurance coverage rates for demanding employers – Did you know your occupation can influence how much you pay for insurance coverage? Occupational choices like judges, business owners and medical professionals usually pay higher premiums than the average policyholder in part from job stress and long work hours. Conversely, jobs like farmers, students and homemakers have the lowest average rates on 7 Series insurance.
  • The more you drive the more you pay – The more you drive in a year the higher the price you pay to insure it. Most insurance companies rate vehicles partially by how you use the vehicle. Cars and trucks not used for work or commuting cost less to insure than those used for commuting. Having an incorrect usage rating on your 7 Series can result in significantly higher rates. Ask your agent if your insurance coverage declarations sheet shows the correct usage, because it can save money.
  • You might get higher premiums if you are single – Having a wife or husband helps lower the price on your policy. Having a spouse translates into being more mature and it’s proven that married drivers get in fewer accidents.
  • Car and home together may be cheaper – Lots of insurance companies allow better rates to customers who buy several policies from them. It’s known as a multi-policy discount. Even with this discount applied, drivers will still want to get quotes from other companies to help guarantee you have the best rates.There is a good possibility that you can find better rates by insuring with multiple companies.

Tailor your auto insurance coverage to you

When buying the right insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Every insured’s situation is different.

For example, these questions can help discover whether or not you may require specific advice.

  • Is business property covered if stolen from my car?
  • How do I insure my teen driver?
  • Is my 2016 BMW 7 Series covered for flood damage?
  • What exactly is covered by my policy?
  • Where can I get insurance after a DUI in my state?
  • Why is insurance for a teen driver so high?
  • Can my babysitter drive my car?
  • What can I do if my company denied a claim?
  • How much liability coverage do I need in my state?
  • What should my uninsured motorist coverage limits be in my state?

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.

Parts of your insurance policy

Knowing the specifics of your insurance policy can be of help when determining the best coverages for your vehicles. Policy terminology can be ambiguous and coverage can change by endorsement.

Medical payments and PIP coverage

Med pay and PIP coverage pay for short-term medical expenses for pain medications, EMT expenses, ambulance fees and hospital visits. They are used in conjunction with a health insurance program or if you lack health insurance entirely. They cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive auto coverage

This coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like falling objects, fire damage, a tree branch falling on your vehicle, hail damage and theft. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and also any damage incurred to your BMW 7 Series.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Auto collision coverage

Collision insurance will pay to fix damage to your 7 Series resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things like rolling your car, colliding with a tree, scraping a guard rail 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 increase the deductible in order to get cheaper collision rates.

Liability auto insurance

Liability insurance can cover damage that occurs to other’s property or people that is your fault. It protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability coverage protects against claims like loss of income, medical expenses, funeral expenses and repair costs for stationary objects. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible.

Shop. Compare. Save.

As you restructure your insurance plan, don’t be tempted to buy less coverage just to save a little money. In many instances, an insured cut comprehensive coverage or liability limits and learned later that it was a big error on their part. Your goal should be to find the BEST coverage at the lowest possible cost, but do not skimp to save money.

You just read a lot of ways to lower your 2016 BMW 7 Series insurance premium rates. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. Consumers may even find the biggest savings come from a lesser-known regional company.

Drivers leave their current company for many reasons like denial of a claim, unfair underwriting practices, extreme rates for teen drivers and not issuing a premium refund. It doesn’t matter why you want to switch choosing a new insurance company can be easy and end up saving you some money.

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