BMW 325i Insurance – 5 Tips to Cut Costs
Overpriced BMW 325i insurance can overdraw your personal savings and put the squeeze on your family’s finances. Doing a price comparison is free, only takes a few minutes, and is a good way to cut your insurance bill. Insurance companies such as Allstate, Progressive and GEICO increase brand awareness with TV and radio ads and it can be hard to separate fact from fiction and effectively compare rates to find the best deal.
Comparison of Car Insurance
Most companies give coverage prices online. Getting online quotes is quite simple as you just type in your required coverages as detailed in the form. Once you submit the form, the company’s rating system requests your credit score and driving record and returns pricing information. This simplifies rate comparisons, but having to visit a lot of sites and fill out multiple forms gets old quite quickly. But it’s absolutely necessary to get many rate quotes in order to get the best price on car insurance.
Compare rates the easy way
A less time-consuming method to compare car insurance pricing is to use a quote form that obtains quotes from multiple companies. The form is fast, eliminates form submissions, and makes rate comparisons much simpler. Immediately after you send the form, it is rated and you can choose your choice of the resulting price quotes.
If the quotes result in lower rates, you can click and sign and purchase the new policy. It only takes a few minutes and you will find out if you’re overpaying now.
To quickly find out what other companies charge, click here to open in new window and complete the simple form. If you have your current policy handy, we recommend you input as shown on your current policy. This way, you will have rate comparison quotes for similar coverage.
Be sure to get all your discounts
Insuring your vehicles can cost a lot, but companies offer discounts that you may not know about. Larger premium reductions will be automatically applied at the time you complete a quote, but less common discounts must be inquired about before you get the savings. If you don’t get every credit available, you are throwing money away.
- Early Signing – Some insurance companies reward drivers for switching policies before your current expiration date. This can save 10% or more.
- Resident Student – Kids in college who attend school more than 100 miles from home and do not have a car can receive lower rates.
- Sign Online – Some insurance companies may give you up to $50 just for signing your application online.
- Theft Prevention Discount – Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
- No Accidents – Drivers with accident-free driving histories pay less compared to drivers who are more careless.
A little note about advertised discounts, some of the credits will not apply to the entire cost. Some only reduce individual premiums such as liability, collision or medical payments. Just because it seems like you could get a free car insurance policy, it just doesn’t work that way. But any discount will help reduce the amount you have to pay.
To choose providers with discount car insurance rates, click this link.
Slick advertising tricks that work
Drivers get pounded daily by advertisements for the lowest price auto insurance from the likes of Progressive, Allstate and GEICO. They all say the same thing about savings if you switch your coverage to them.
How do they all say the same thing?
Insurance companies have a certain “appetite” for the type of customer they prefer to insure. An example of a preferred risk could possibly be between 25 and 40, insures multiple vehicles, and drives less than 10,000 miles a year. Any driver who meets those qualifications will get the preferred rates and is almost guaranteed to save quite a bit of money when switching.
Potential customers who don’t meet these standards must pay higher rates and ends up with the driver buying from a lower-cost company. The ads say “people who switch” not “people who quote” save money. This is how companies can make the claims of big savings.
This illustrates why it is so important to compare as many rates as you can. It’s impossible to know which company will fit your personal profile best.
Car insurance coverage options for a BMW 325i
Knowing the specifics of your car insurance policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Below you’ll find typical coverages found on the average car insurance policy.
Comprehensive (Other than Collision)
This will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims such as fire damage, theft, rock chips in glass, damage from a tornado or hurricane and damage from flooding. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your BMW 325i.
Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Usually these limits are similar to your liability insurance amounts.
Collision coverage protection
Collision insurance pays for damage to your 325i caused by collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like sideswiping another vehicle, hitting a mailbox and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to save money on collision insurance.
Medical expense insurance
Medical payments and Personal Injury Protection insurance kick in for bills for things like prosthetic devices, rehabilitation expenses, doctor visits and X-ray expenses. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Liability
Liability coverage can cover injuries or damage you cause to a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/25 which stand for $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. Another option is a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage protects against claims such as loss of income, bail bonds, attorney fees and pain and suffering. How much coverage you buy is a decision to put some thought into, but consider buying as high a limit as you can afford.
More quotes mean more savings
We’ve covered a lot of techniques to lower your BMW 325i insurance rates. The most important thing to understand is the more companies you get rates for, the higher the chance of saving money. You may even find the lowest premiums are with the smaller companies. Some small companies may cover specific market segments cheaper as compared to the big name companies such as Progressive and GEICO.
Low-cost BMW 325i insurance is available on the web in addition to many insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some companies do not provide online price quotes and these small, regional companies work with independent agents.
As you restructure your insurance plan, never reduce needed coverages to save money. In many instances, someone dropped full coverage and discovered at claim time that they should have had better coverage. The aim is to find the BEST coverage for the lowest price while not skimping on critical coverages.