Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Jun 29, 2018

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Looking for lower car insurance rates for your BMW 8 Series? Are you regretting buying high-priced car insurance? Trust us when we tell you many consumers are feeling buyer’s remorse and feel like there’s no way out.

Multiple insurers compete for your hard-earned dollar, so it can be very hard to choose a provider to discover the definitive cheapest price

If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using these techniques. Buying car insurance is not rocket science. But drivers must understand how big insurance companies sell online and use this information to your advantage.

Cut your insurance rates with discounts

Some companies don’t necessarily list the entire discount list very well, so the next list breaks down a few of the more well known and the harder-to-find credits available to bring down your rates.

  • Early Payment Discounts – By paying your entire bill at once instead of monthly or quarterly installments you could save 5% or more.
  • Early Renewal Discounts – A few companies allow discounts for buying a new policy before your current policy expires. This can save 10% or more.
  • Anti-lock Brakes – Cars, trucks, and SUVs with anti-lock braking systems have fewer accidents and earn discounts up to 10%.
  • Use Seat Belts – Drivers who require all vehicle occupants to buckle up can save up to 10 percent (depending on the company) on the medical payments or PIP coverage costs.
  • Discounts for Multiple Vehicles – Buying a policy with all your vehicles with the same company qualifies for this discount.

Discounts save money, but please remember that most of the big mark downs will not be given to the overall cost of the policy. A few only apply to specific coverage prices like comp or med pay. Even though it appears having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

A list of insurance companies and a partial list of their discounts are:

  • State Farm discounts include student away at school, multiple autos, passive restraint, safe vehicle, anti-theft, and Steer Clear safe driver discount.
  • American Family policyholders can earn discounts including good student, Steer into Savings, bundled insurance, multi-vehicle, defensive driver, accident-free, and TimeAway discount.
  • GEICO offers premium reductions for anti-theft, emergency military deployment, defensive driver, multi-policy, and five-year accident-free.
  • 21st Century may include discounts for automatic seat belts, anti-lock brakes, theft prevention, defensive driver, early bird, homeowners, and driver training.
  • Progressive offers discounts including online signing, multi-policy, online quote discount, homeowner, continuous coverage, good student, and multi-vehicle.

If you are trying to find low cost auto insurance quotes, ask all the companies what discounts are available to you. Some of the earlier mentioned discounts might not apply in your area. To choose insurers that offer multiple discounts, click here.

Enter your zip code below to view companies that have cheap auto insurance rates.

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How to get free car insurance quotes online

All major car insurance companies like State Farm and Allstate give insurance quotes from their websites. Doing online price comparisons doesn’t take much effort as all you need to do is type in your coverage preferences as requested by the quote form. Once entered, the system orders credit information and your driving record and generates pricing information. Being able to quote online makes it simple to compare prices but the process of having to visit each company’s website and repetitively complete many quote forms gets old quite quickly. But it’s necessary to perform this step if you want to find better prices.

There is a better way!

The easiest way to compare car insurance pricing is to use a quote form that analyzes rates from a lot of companies. This type of form saves time, eliminates repetitive work, and makes online quotes much simpler. After sending the form, it is quoted and you are able to buy any or none of the price quotes you receive.

If the quotes result in lower rates, you can click and sign and purchase coverage. The entire process can be completed in less than 10 minutes and could lower your rates considerably.

To quickly use this form to compare rates, simply click here to open in new window and input your coverage information. If you have a policy now, it’s recommended you copy as shown on your current policy. This helps ensure you will have a fair comparison for similar coverage.

How car insurance companies determine BMW 8 Series insurance prices

Many factors are part of the equation when you get a price on insurance. Some factors are common sense like your driving record, but other factors are less obvious like your continuous coverage or how safe your car is.Smart consumers have a good feel for some of the elements that help calculate car insurance rates. If you know what positively or negatively impacts your premiums, this enables you to make decisions that may result in much lower annual insurance costs.

The list below includes some of the major factors used by your company to calculate your premiums.

  • Having a spouse can lower prices – Walking down the aisle may earn you lower rates when shopping for car insurance. Having a spouse generally demonstrates drivers are more stable financially it has been statistically shown that married drivers tend to have fewer serious accidents.
  • Prices may be higher where you live – Having an address in a rural area can be a good thing when talking about car insurance. City drivers have more road rage incidents and much longer commute distances. Fewer people means fewer accidents in addition to lower liability claims
  • Insurance premiums and driver gender – The statistics show females are less aggressive when driving. This data doesn’t prove that women are better drivers. Males and females are responsible for accidents in similar numbers, but the male of the species cause more damage and cost insurance companies more money. Men also tend to get cited for more serious violations such as DWI and reckless driving. Young males have the highest risk to insure and therefore are the most expensive to insure.
  • Keep the miles off and save – Driving a lot of miles in a year’s time the more you’ll pay to insure it. Many insurance companies charge to insure your cars partially by how you use the vehicle. Cars that do not get driven very much can be on a lower rate level than those used for commuting. It’s a good idea to make sure your vehicle rating states the correct usage for each vehicle, because improper ratings can cost you money. A policy that improperly rates your 8 Series can cost quite a bit.
  • Driving citations cost more than a fine – Careful drivers have lower premiums than their less careful counterparts. Getting just one citation can increase the cost of insurance to the point where it’s not affordable. Drivers who have gotten dangerous violations like DWI, reckless driving or hit and run convictions may need to complete a SR-22 with their state motor vehicle department in order to drive a vehicle legally.
  • Be proud to be claim-free – If you file a lot of claims you shouldn’t be surprised to get higher rates. Companies generally give lower rates to insureds who file claims infrequently. Your insurance policy is designed for more catestrophic claims.
  • Expect high rates for teens – Young drivers have been known to be easily distracted when driving therefore car insurance rates are much higher. Parents adding a young driver onto a policy can be very expensive. Older people are proven to be safer behind the wheel, cause fewer claims and accidents , and are generally more financially stable.

You are unique and your insurance coverage should be too

When it comes to buying coverage for your personal vehicles, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions can aid in determining if your insurance needs may require specific advice.

  • Should I put collision coverage on all my vehicles?
  • When should I remove comp and collision on my 1993 BMW 8 Series?
  • Can my teen driver be rated on a liability-only vehicle?
  • What is the rate difference between pleasure use and commuting?
  • How can I force my company to pay a claim?
  • Is there coverage for injuries to my pets?
  • What if I owe more than I can insure my car for?
  • Am I covered if hit by an uninsured driver?

If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier

Enter your zip code below to view companies that have cheap auto insurance rates.

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Auto insurance myths debunked

Big name companies like State Farm and Allstate regularly use ads in print and on television. All the companies say the same thing that people will save if you change your auto insurance coverage to their company. How can each company lower your premium rates? It’s all in the numbers.

Most companies have a preferred profile for the right customer that earns them a profit. For instance, a preferred risk may need to be over age 30, is a homeowner, and the vehicle is rated for pleasure use. A driver that hits that “sweet spot” will get low car insurance rates and will save some money.

People who are not a match for the requirements must pay more expensive rates and ends up with the customer not buying. The ads state “customers that switch” but not “all drivers who get quotes” save that much. That’s the way insurance companies can make claims that they all have the best car insurance rates.

That is why you absolutely need to get as many free auto insurance quotes as possible. It is just not possible to predict which auto insurance company will fit your personal profile best.

Auto insurance policy specifics

Having a good grasp of your auto insurance policy can be of help when determining the right coverages for your vehicles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are typical coverages found on most auto insurance policies.

Comprehensive coverages – This will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as fire damage, a broken windshield, damage from getting keyed, hitting a deer and a tree branch falling on your vehicle. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Collision coverages – This will pay to fix damage to your 8 Series resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things like damaging your car on a curb, sideswiping another vehicle and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.

Uninsured and underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your 1993 BMW 8 Series.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Auto liability insurance – This protects you from damage or injury you incur to a person or their property in an accident. This insurance protects YOU against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability can pay for things like structural damage, funeral expenses, pain and suffering and legal defense fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible.

Coverage for medical payments – Coverage for medical payments and/or PIP kick in for short-term medical expenses like EMT expenses, X-ray expenses and nursing services. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as getting struck while a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible

Money doesn’t grow on trees

Lower-priced 1993 BMW 8 Series insurance can be found from both online companies as well as from independent agents, and you should compare price quotes from both to have the best selection. Some insurance providers do not offer rates over the internet and these small, regional companies provide coverage only through independent insurance agents.

When shopping online for car insurance, don’t be tempted to reduce needed coverages to save money. There have been many cases where drivers have reduced comprehensive coverage or liability limits and discovered at claim time that the few dollars in savings costed them thousands. Your focus should be to purchase plenty of coverage at an affordable rate, not the least amount of coverage.

Much more information about car insurance is located on the following sites: