2017 BMW i3 Insurance Quotes

Tired of sacrificing to insure your BMW every month? You have the same problem as many other consumers.

Big companies like Allstate, Liberty Mutual and State Farm continually hit you with fancy advertisements and it can be hard to see through the deception and do the work needed to find the best deal.

Consumers need to check insurance coverage prices quite often because insurance coverage rates change regularly. If you had the best rate for i3 coverage a year ago you can probably find a better price now. There is too much inaccurate information about insurance coverage out there, but we’re going to give you some of the best techniques to lower your insurance coverage rates.

If you are paying for car insurance now, you will be able to reduce your rates substantially using these tips. Buying car insurance is not rocket science. Nevertheless, car owners must know the way companies compete online and take advantage of how the system works.

More affordable rates with these discounts

Companies offering auto insurance don’t always list all possible discounts in an easy-to-find place, so here is a list a few of the more common as well as the least known insurance savings.

  • Discount for Low Mileage – Driving less could earn discounted premium rates on garaged vehicles.
  • Onboard Data Collection – Drivers that enable driving data submission to monitor when and where they use their vehicle through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates as long as they are good drivers.
  • Good Student Discount – Getting good grades can earn a discount of 20% or more. You can use this discount normally well after school through age 25.
  • Employee of Federal Government – Active or retired federal employment can save as much as 8% for i3 coverage with some insurance companies.
  • ABS Brakes – Cars, trucks, and SUVs that have anti-lock braking systems are much safer to drive and earn discounts up to 10%.
  • Claim-Free Discount – Claim-free drivers are rewarded with significantly better rates on auto insurance quote as opposed to drivers with a long claim history.
  • New Car Discount – Buying a new car instead of a used car may earn a small discount due to better safety requirements for new model year vehicles.

Discounts reduce rates, but you should keep in mind that most discount credits are not given to the overall cost of the policy. Most cut the cost of specific coverages such as comp or med pay. So when the math indicates you would end up receiving a 100% discount, insurance companies wouldn’t stay in business. But all discounts should help lower your overall premium however.

Companies and some of the premium reductions they offer can be found below.

  • State Farm policyholders can earn discounts including student away at school, Steer Clear safe driver discount, accident-free, defensive driving training, passive restraint, and safe vehicle.
  • Progressive may include discounts for multi-policy, homeowner, online signing, multi-vehicle, continuous coverage, and online quote discount.
  • Travelers offers discounts for early quote, hybrid/electric vehicle, payment discounts, new car, and home ownership.
  • American Family offers premium reductions for early bird, multi-vehicle, air bags, Steer into Savings, bundled insurance, and good student.
  • Liberty Mutual includes discounts for new move discount, safety features, newly married, multi-car, good student, teen driver discount, and exclusive group savings.

Before buying, ask each company or agent how many discounts you can get. Discounts might not be offered in your state.

How your i3 insurance prices are determined

Many different elements are used when you get a price on insurance. Most are fairly basic such as traffic violations, but other factors are more transparent like where you live or how safe your car is.Smart consumers have a good feel for the factors that help determine your premiums. When consumers understand what determines base rates, this enables informed choices that may result in lower rates.

  • Raising comp and collision deductibles lowers prices – Comp and collision deductibles are how much you are willing to pay out-of-pocket if you file a covered claim. Protection for physical damage, aka comp and collision, protects your car from damage. Some examples of claims that would be covered would be a windshield broken by a bird, vandalism, and damage caused by road hazards. The more of the claim you’re willing to pay, the better rate you will receive for i3 coverage.
  • Avoid coverage lapses – Having a lapse in insurance coverage can be a fast way to drive up your policy premiums. And not only will your rates increase, being ticketed for driving with no insurance can result in fines and jail time.
  • Pay less with a high safety rating – Cars with high safety ratings tend to be cheaper to insure. Vehicles built for safety result in less severe injuries and any reduction in injury severity means less money paid by your insurance company and more competitive rates for policyholders. If your BMW has at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may pay a lower rate.
  • Do you have a tough job? – Did you know that where you work can have an impact on rates? Occupations like doctors, business owners and stock brokers have the highest average rates in part from job stress and long work hours. On the other hand, professions such as actors, engineers and the unemployed get better rates for i3 coverage.

Car insurance can be complex

When choosing the best car insurance coverage for your vehicles, there is no “best” method to buy coverage. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether you could use an agent’s help.

  • When can I cancel my policy?
  • Is other people’s property covered if stolen from my vehicle?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • What is medical payments coverage?
  • When would I need rental car insurance?
  • Is my cargo covered for damage or theft?
  • Is motorclub coverage worth it?

If you’re not sure about those questions but one or more may apply to you, you may need to chat with a licensed agent. If you don’t have a local agent, take a second and complete this form or you can also visit this page to select a carrier

Coverages available on your insurance policy

Knowing the specifics of insurance can help you determine the best coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and coverage can change by endorsement. Below you’ll find the usual coverages offered by insurance companies.

Collision coverage – This pays to fix your vehicle from damage from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims such as backing into a parked car, damaging your car on a curb, scraping a guard rail, driving through your garage door and hitting a mailbox. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Coverage for uninsured or underinsured drivers – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your BMW i3.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Most of the time these coverages do not exceed the liability coverage limits.

Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as a broken windshield, hitting a deer and hail damage. The most 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.

Coverage for liability – Liability coverage protects you from damage or injury you incur to other’s property or people in an accident. It protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Some companies may use a combined limit which limits claims to one amount without having the split limit caps.

Liability can pay for claims like attorney fees, funeral expenses, repair bills for other people’s vehicles, loss of income and structural damage. How much liability should you purchase? That is a personal decision, but you should buy as much as you can afford.

Coverage for medical expenses – Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for things like EMT expenses, nursing services and doctor visits. They are used to fill the gap from your health insurance program or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible

Smart consumers save more

In this article, we covered many ways to save on 2017 BMW i3 insurance. It’s most important to understand that the more you quote auto insurance, the better likelihood of getting the cheapest auto insurance. Consumers could even find that the best price on insurance coverage is with a small mutual company. They can often provide lower prices in certain areas than the large multi-state companies such as State Farm or Progressive.

As you quote auto insurance, it’s not a good idea to skimp on coverage in order to save money. There are a lot of situations where drivers have reduced uninsured motorist or liability limits only to regret at claim time that they should have had better coverage. Your goal is to buy a smart amount of coverage for the lowest cost, but do not sacrifice coverage to save money.

A few companies may not have rate quotes online and many times these small, regional companies only sell coverage through independent agents. Budget-friendly insurance coverage is possible both online and also from your neighborhood agents, and you should compare price quotes from both in order to have the best chance of saving money.

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