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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Searching for better car insurance rates for your BMW 8 Series? Shopping for budget car insurance might appear impossible for people new to quoting and price shopping online. With dozens of insurance companies available, how can anyone have a chance to compare every possible option in order to find the best available price?

How to compare insurance coverage price quotes

Effectively comparing insurance coverage prices can be a lot of work if you aren’t aware of the most efficient way to do it. You can spend countless hours discussing policy coverages with insurance agencies in your area, or you can utilize online quotes to quickly compare rates.

Many companies belong to a marketplace where insurance shoppers send in one quote, and each participating company then returns a price quote. This saves time by eliminating form submissions to each individual insurance coverage company.

To compare rates using this form now click here to start a free quote.

The one downside to comparing rates this way is you can’t choose the providers to get pricing from. If you would rather choose specific insurance companies for rate comparison, we have assembled a list of the cheapest insurance coverage companies in your area. Click to view list.

It’s your choice how you get your quotes, but make darn sure you compare the exact same quote data with every price quote. If you have different values for each quote it will be impossible to decipher which rate is best. Quoting even small variations in limits can mean a large discrepancy in price. Keep in mind that having more price comparisons helps locate a lower rate. Some regional insurers cannot provide rate quotes online, so it’s important to also get price estimates from them, too.

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

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Discount insurance coverage quotes

Insurance coverage is easily one of your largest bills, but you might already qualify for some discounts that could drop your premiums quite a bit. Larger premium reductions will be automatically applied at the time of quoting, but lesser-known reductions have to be specifically requested before you will receive the discount.

  • Government Employees – Active or retired federal employment could provide a small rate reduction for 8 Series coverage with select insurance companies.
  • Save over 55 – If you’re over the age of 55, you may qualify for reduced rates for 8 Series coverage.
  • Buy New and Save – Adding a new car to your policy can cost up to 25% less because newer vehicles have to meet stringent safety requirements.
  • Telematics Discount – Insureds that choose to allow their company to spy on their driving habits by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they are good drivers.
  • Lower Rates for Military – Being on active duty in the military can result in better insurance coverage rates.
  • Multi-line Discount – Select insurance coverage companies reward you with lower insurance coveragerates if you buy a life policy as well.

One last thing about discounts, most discount credits are not given to all coverage premiums. Most cut the cost of specific coverages such as liability, collision or medical payments. So despite the fact that it appears all those discounts means the company will pay you, you won’t be that lucky. But any discount will help reduce the premium cost.

A few companies that may offer some of the discounts shown above include:

If you want cheap auto insurance quotes, ask each company which discounts you qualify for. All car insurance discounts might not be offered on policies in your area. If you would like to choose from a list of providers that offer discounts, follow this link.

Tailor your insurance coverage coverage to you

When it comes to buying proper insurance coverage, there really is no single plan that fits everyone. Each situation is unique.

For instance, these questions can aid in determining if you may require specific advice.

  • Is my business laptop covered if it gets stolen from my vehicle?
  • What is UM/UIM insurance?
  • I don’t drive much so do I pay less?
  • Is pleasure use cheaper than using my 1995 BMW 8 Series to commute?
  • Will filing a claim cost me more?
  • Do I need PIP (personal injury protection) coverage in my state?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, take a second and complete this form.

Save $382 a year! What?

Allstate, GEICO and Progressive continually stream ads on TV and radio. All the ads advertise the message about saving some big amount just by moving your coverage to them. Is it even possible that every company can give you a better price? Just pay attention to how they say it.

Companies have specific guidelines for the type of customer that earns them a profit. One example of this type of insured could be over age 30, has no prior claims, and has great credit. Any new insured that fits those parameters gets the lowest car insurance rates and will save when they switch companies.

Potential insureds who are not a match for the requirements will be quoted a higher rate which leads to the prospect going elsewhere. Company advertisements say “drivers who switch” but not “everyone who gets a quote” save that much money. That is how insurance companies can make those claims.

This really drives home the point why you really need to get price quotes at each policy renewal. It’s not possible to predict which auto insurance company will have the lowest rates.

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

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Insurance policy coverages for a 1995 BMW 8 Series

Learning about specific coverages of your policy helps when choosing appropriate coverage for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement.

Medical expense coverage – Med pay and PIP coverage provide coverage for bills for prosthetic devices, surgery, hospital visits and doctor visits. They are often used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

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

Collision insurance covers things such as damaging your car on a curb, scraping a guard rail and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Uninsured or underinsured coverage – This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. It can pay for injuries to you and your family and damage to your BMW 8 Series.

Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Comprehensive protection – This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as a tree branch falling on your vehicle, hail damage and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability coverages – This protects you from 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 for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have a combined limit which provides one coverage limit rather than limiting it on a per person basis.

Liability can pay for things like legal defense fees, medical expenses, repair bills for other people’s vehicles, repair costs for stationary objects and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as much as you can afford.

More comparisons equals lower rates

When getting auto insurance quotes online, it’s not a good idea to reduce needed coverages to save money. There have been many cases where an accident victim reduced collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your goal should be to purchase plenty of coverage at the best cost and still be able to protect your assets.

Consumers switch companies for a variety of reasons including delays in paying claims, high rates after DUI convictions, poor customer service and even delays in responding to claim requests. It doesn’t matter what your reason, choosing a new insurance company is actually quite simple.

We just presented many tips how you can shop for 1995 BMW 8 Series insurance online. The most important thing to understand is the more quotes you get, the better your comparison will be. Consumers may even find the best auto insurance rates are with a company that doesn’t do a lot of advertising.

More detailed car insurance information can be found in the articles below: