Cheaper 2016 BMW i8 Car Insurance Quotes

Trying to find cheaper auto insurance rates for your BMW i8? Comparing insurance coverage quotes online can be a challenge if you’ve never received quote comparisons online. But don’t surrender to high rates because comparing rates is actually very simple.

You should take the time to compare premium rates quite often because auto insurance prices go up and down regularly. Just because you found the best quotes on i8 coverage six months ago other companies may now be cheaper. Ignore everything you know about auto insurance because you’re going to get a crash course in the things you must know in order to find lower rates on auto insurance.

Get more affordable insurance costs by understanding these factors

Multiple criteria are considered when quoting car insurance. Some factors are common sense such as your driving record, but other factors are not quite as obvious such as your credit history or how safe your car is.

Listed below are most of the major factors companies use to determine your premiums.

  • Occupation stress can affect premiums – Careers like lawyers, social workers and miners have the highest rates attributed to intense work situations and incredibly demanding work hours. On the flip side, professions such as professors, athletes and the unemployed pay lower than average rates on i8 coverage.
  • How credit history affects insurance coverage rates – Having a good credit rating can be an important factor in determining what you pay for insurance coverage. If your credit score can use some improvement, you could potentially save money when insuring your 2016 BMW i8 by improving your rating. People that have excellent credit tend to be less risk to insure than those with lower ratings.
  • Remove unneeded extra policy coverages – There are many extra coverages that can add up on your insurance coverage policy. Coverages like rental car coverage, high-cost glass coverage, and extra life insurance coverage may not be needed and are just wasting money. They may sound like good ideas when discussing your needs, but your needs may have changed so remove them from your policy.
  • More policies can equal more savings – Most major insurance companies will award lower prices to clients who carry more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to compare other insurance prices to verify if the discount is saving money. Consumers may save money by insuring with multiple companies.

Low cost insurance prices

All the larger insurance companies such as Allstate and Progressive give coverage price quotes direct online. Comparing rates online is pretty easy as all you need to do is type in your required coverages as requested by the quote form. After the form is submitted, their system makes automated requests for your driving and credit reports and gives you a price quote based on the data you entered.

Online quotes makes comparing rates easy, but the time required to go to several different sites and complete many quote forms gets old quite quickly. Unfortunately, it is important to have as many quotes as possible in order to find the best price on insurance.

A better way to compare insurance pricing is to use a quote form that gets price quotes from multiple companies. It saves time, eliminates form submissions, and makes price shopping online a little more enjoyable. Once the form is submitted, it is quoted and you can select your choice of the price quotes you receive.

If you find a better price you can simply submit the application and purchase coverage. The whole process takes 15 minutes at the most and you will know how your current rates stack up.

To find out how much you can save on insurance, click here to open in new window and begin entering your coverage information. If you have coverage now, it’s recommended you input coverages and limits just like they are on your policy. This guarantees you are getting comparison quotes using the exact same coverages.

These discounts can lower your insurance coverage quotes

Some insurers don’t always list every discount they offer in an easy-to-find place, so we break down a few of the more common and the harder-to-find credits available to lower your premiums when you buy insurance coverage online.

  • Military Discounts – Having a family member in the military may lower your rates slightly.
  • Save with a New Car – Insuring a new car can get you a discount since newer vehicles have better safety ratings.
  • Senior Citizen Discount – Drivers over the age of 55 may qualify for a small discount on rates on i8 coverage.
  • Fewer Miles Equal More Savings – Keeping the miles down on your BMW can earn cheaper prices.
  • Clubs and Organizations – Having an affiliation with certain professional organizations may earn a discount on your next insurance coverage statement.
  • Discount for Passive Restraints – Factory options such as air bags and/or automatic seat belt systems can receive discounts of 20 to 30 percent.
  • Discount for Multiple Policies – If you combine your auto and homeowners policies and place coverage with the same company you could save 10% to 20% off each policy.

Keep in mind that many deductions do not apply the the whole policy. Most only cut specific coverage prices like comprehensive or collision. So when it seems like all the discounts add up to a free policy, insurance coverage companies aren’t that generous.

A list of companies and a summarized list of policyholder discounts include:

  • Progressive discounts include online quote discount, multi-policy, good student, online signing, continuous coverage, and homeowner.
  • AAA policyholders can earn discounts including good driver, education and occupation, anti-theft, multi-car, pay-in-full, multi-policy, and AAA membership discount.
  • Farmers Insurance offers premium reductions for multi-car, switch companies, early shopping, pay in full, and electronic funds transfer.
  • Geico offers discounts for federal employee, air bags, multi-vehicle, five-year accident-free, defensive driver, good student, and seat belt use.
  • Esurance offers discounts including DriveSense, safety device, homeowner, anti-theft, online shopper, and defensive driver.
  • SAFECO includes discounts for drive less, multi-car, anti-theft, teen safety rewards, and homeowner.
  • State Farm may offer discounts for good student, Drive Safe & Save, multiple autos, safe vehicle, student away at school, and multiple policy.

When comparing rates, check with each company or agent which credits you are entitled to. Discounts may not be available in your area.

Different people need different insurance coverages

When choosing coverage, there isn’t really a single plan that fits everyone. Every insured’s situation is different.

Here are some questions about coverages that can help discover whether your personal situation might need professional guidance.

  • Do I need to file an SR-22 for a DUI in my state?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Is my dog or cat covered if injured in an accident?
  • How do I insure my teen driver?
  • What can I do if my company denied a claim?
  • Am I better off with higher deductibles on my 2016 BMW i8?
  • What should my uninsured motorist coverage limits be in my state?

If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Car insurance 101

Knowing the specifics of your insurance policy helps when choosing the best coverages for your vehicles. The terms used in a policy can be difficult to understand and reading a policy is terribly boring.

Liability coverages

Liability insurance can cover damage or injury you incur to a person or their property by causing an accident. This coverage protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.

Liability insurance covers things such as medical expenses, attorney fees, emergency aid, bail bonds and funeral expenses. How much coverage you buy is a personal decision, but you should buy as large an amount as possible.

Collision coverage

This pays for damage to your i8 resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like damaging your car on a curb, crashing into a ditch and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to choose a higher deductible in order to get cheaper collision rates.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses for hospital visits, rehabilitation expenses, pain medications, ambulance fees and prosthetic devices. They can be utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover all vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and also any damage incurred to your BMW i8.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive (Other than Collision)

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from flooding, hitting a bird, vandalism, fire damage and a tree branch falling on your vehicle. 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.

Better coverage you can count on

Consumers change insurance companies for a number of reasons such as lack of trust in their agent, being labeled a high risk driver, high rates after DUI convictions or even questionable increases in premium. Regardless of your reason, choosing a new company is less work than it seems.

We’ve covered many tips how you can save on 2016 BMW i8 insurance. The key thing to remember is the more times you quote, the better your chances of lowering your rates. You may even find the lowest priced car insurance comes from some of the smallest insurance companies.

While you’re price shopping online, it’s a bad idea to buy less coverage just to save a little money. There are a lot of situations where someone dropped liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. The aim is to buy the best coverage you can find at the best cost but still have enough coverage for asset protection.

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