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: Oct 6, 2015

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Shoppers have a choice when shopping for low-cost BMW 8 Series insurance. They can either waste time contacting agents trying to get quotes or use the internet to find the lowest rates.

There is a right way and a wrong way to buy insurance and we’ll show you the quickest way to quote coverages for your BMW and find the best price possible.

It’s a great practice to get comparison quotes before your policy renews since rates are adjusted regularly by insurance companies. Even if you think you had the best deal on 8 Series coverage two years ago you may be paying too much now. Forget all the misinformation about insurance because I’m going to let you in on the secrets to the best way to reduce your cost while improving coverage.

This information will help you learn the most effective way to quote insurance and some money-saving tips. If you currently have car insurance, you stand a good chance to be able to save some money using this strategy. Vehicle owners only need to know the most effective way to shop online.

Take advantage of every insurance coverage discount

Car insurance companies don’t always list all available discounts very well, so the next list breaks down some of the best known in addition to some of the lesser obvious credits that you can use to lower your rates. If you aren’t receiving every discount you deserve, it’s possible you qualify for a lower rate.

  • Air Bag Discount – Vehicles equipped with air bags or motorized seat belts can get savings of 25 to 30%.
  • Online Discount – Some of the larger companies will give a small break shop insurance coverage on their website.
  • Theft Prevention System – Cars and trucks equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and earn discounts up to 10% off your insurance coverage quote.
  • Onboard Data Collection – Insureds who allow their company to study their driving habits by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could see a rate decrease if they show good driving skills.
  • Distant Student – Any of your kids who attend college more than 100 miles from home without a vehicle on campus can be insured at a reduced rate.
  • Safety Restraint Discount – Buckling up and requiring all passengers to buckle up before driving can save up to 15% off PIP or medical payments premium.
  • Senior Citizen Discount – If you qualify as a senior citizen, you are able to get a small decrease in premiums on 8 Series coverage.

One last thing about discounts, most discounts do not apply to your bottom line cost. Some only reduce specific coverage prices like collision or personal injury protection. Even though it may seem like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

The best insurance coverage companies and a partial list of their discounts are detailed below.

  • Farm Bureau may include discounts for renewal discount, 55 and retired, safe driver, multi-vehicle, driver training, and youthful driver.
  • State Farm offers discounts for student away at school, safe vehicle, multiple policy, Steer Clear safe driver discount, and good student.
  • Progressive includes discounts for continuous coverage, multi-vehicle, homeowner, online quote discount, good student, and online signing.
  • Allstate has discounts for auto/life discount, early signing, FullPay discount, senior citizen, resident student, and safe driver.
  • Nationwide discounts include defensive driving, anti-theft, business or organization, Farm Bureau membership, good student, and multi-policy.
  • MetLife may have discounts that include accident-free, good driver, good student, claim-free, multi-policy, defensive driver

It’s a good idea to ask each company or agent which discounts they offer. All car insurance discounts might not be available to policyholders in your state. To see a list of companies with the best insurance coverage discounts, click here to view.

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

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How to know if you need help

When it comes to buying coverage, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different.

Here are some questions about coverages that can help discover if your insurance needs may require specific advice.

  • Do I need replacement cost coverage on my 1994 BMW 8 Series?
  • Am I getting all the discounts available?
  • Is my dog or cat covered if injured in an accident?
  • What is an SR-22 filing?
  • Am I covered when driving a rental car?
  • What is UM/UIM insurance?

If you can’t answer these questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form. It is quick, free and can help protect your family.

Car insurance 101

Understanding the coverages of insurance aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Medical expense insurance

Medical payments and Personal Injury Protection insurance kick in for immediate expenses for EMT expenses, dental work, prosthetic devices, pain medications and X-ray expenses. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers you and your occupants as well as getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Collision protection

This will pay to fix damage to your 8 Series caused by collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like backing into a parked car, crashing into a building and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

Comprehensive (Other than Collision)

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as a broken windshield, a tree branch falling on your vehicle and hitting a deer. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Liability coverages

This coverage provides protection from injuries or damage you cause to other people or property that is your fault. This coverage protects you against claims from other people, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against things like medical services, court costs and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits are similar to your liability insurance amounts.

Don’t be a big spender

Insureds switch companies for a variety of reasons including being labeled a high risk driver, questionable increases in premium, lack of trust in their agent or even high prices. It doesn’t matter what your reason, finding a new company is not as difficult as it may seem.

As you quote insurance coverage, it’s not a good idea to reduce coverage to reduce premium. There are a lot of situations where an insured dropped comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your goal should be to find the BEST coverage for the lowest price, not the least amount of coverage.

You just learned many ideas to compare 1994 BMW 8 Series insurance rates online. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Drivers may discover the lowest rates are with a lesser-known regional company.

Additional insurance coverage information is located at the links below