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: Jul 6, 2018

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Searching for lower insurance rates for your BMW 8 Series? When looking for more affordable insurance, are you baffled by the sheer number of insurance choices that you can choose from? Lot’s of other drivers are too. You have so many choices to choose from that it is a chore to find the lowest price.

It is always a good idea to compare prices as often as possible because insurance rates trend upward over time. Just because you had the best rate for 8 Series insurance on your last policy there may be better deals available now. There is too much inaccurate information about insurance online, but in just a couple of minutes you can learn the easiest ways to put money back in your pocket.

If you have car insurance now, you stand a good chance to be able to save some money using these techniques. The purpose of this post is to teach you the most effective way to quote insurance and some tricks to saving. Although vehicle owners must learn how big insurance companies determine prices because it can help you find the best coverage.

Verify you’re receiving every discount

Some insurance providers don’t necessarily list every discount they offer in a way that’s easy to find, so the list below contains both the well known and also the more inconspicuous discounts that you can inquire about if you buy insurance coverage online. If you aren’t receiving every discount you qualify for, you could be saving more on your auto insurance.

  • Accident-Free Discounts – Insureds who avoid accidents and claims get the best auto insurance rates when compared with drivers who are more careless.
  • Membership in Organizations – Participating in specific professional or occupational memberships or organizations is a simple method to lower premiums on auto insurance.
  • Government Employees – Active or former government employment could cut as much as 10% off for 8 Series insurance with a few auto insurance companies.
  • Theft Prevention System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and therefore earn up to a 10% discount.
  • Accident Forgiveness – Not a discount per se, but some insurance companies may permit one accident without the usual rate increase so long as you are claim-free for a particular time prior to the accident.
  • Save over 55 – If you’re over the age of 55, you may be able to get a discount up to 10% for 8 Series insurance.
  • Passive Restraints – Options like air bags or automatic seat belts can receive discounts up to 30%.
  • Early Switch Discount – A few auto insurance companies give discounts for switching companies early. You can save around 10% with this discount.

Just know that most credits do not apply to the entire policy premium. Some only apply to individual premiums such as comp or med pay. Despite the fact that it seems like adding up those discounts means a free policy, it’s just not the way it works.

Car insurance companies that have these discounts possibly include:

If you want cheaper insurance coverage quotes, ask every insurance company which discounts you may be entitled to. Some credits might not apply in your state. To find companies that offer multiple discounts, click here to view.

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

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BMW 8 Series insurance rate factors

Part of the insurance coverage buying process is learning some of the elements that come into play when calculating the level of your policy premiums. If you know what determines premiums, this enables you to make decisions that could help you find much lower annual insurance costs.

The itemized list below are most of the major factors used by insurance companies to determine rates.

  • How your age affects costs – More mature drivers are more responsible, cost insurance companies less in claims and are safer drivers.Teen drivers are statistically shown to get distracted easily when driving so they pay higher insurance coverage rates.
  • Your address can influence price – Choosing to live in less populated areas of the country is a good thing when talking about insurance coverage. Drivers who live in large cities have much more traffic and more severe claims. Fewer drivers on the road means fewer accidents and a lower car theft rate.
  • Safer cars means cheaper insurance – Vehicles with high crash test scores get lower rates. Safe vehicles reduce the chance of injuries and fewer injuries translates directly to fewer claims and lower rates for you.
  • Bump up comp and collision deductibles to lower rates – Deductibles for physical damage are the amount of money the insured will be required to pay before a claim is paid by your company. Insurance for physical damage, also called comprehensive and collision insurance, covers damage that occurs to your car. Examples of covered claims would be collision with another vehicle, hail damage, and damage caused by road hazards. The more of the claim you have to pay, the less your insurance coverage will be for 8 Series insurance.
  • Advanced theft deterrents – Buying a car that has an advanced theft prevention system can help lower your rates. Systems that thwart theives like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent auto theft.

When should I discuss my situation with an agent?

When buying proper insurance coverage, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

For instance, these questions may help you determine if your situation will benefit from professional help.

  • Is a new car covered when I drive it off the dealer lot?
  • Do I have any recourse if my insurance company denies a claim?
  • Am I covered when delivering products for my home-based business?
  • Is my dog or cat covered if injured in an accident?
  • Do I need motorclub coverage?
  • When should I buy a commercial auto policy?
  • Does coverage extend to a rental car in a foreign country?
  • Is my state a no-fault state?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, complete this form.

The coverage is in the details

Understanding the coverages of a auto insurance policy helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.

Collision protection

Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against claims like scraping a guard rail, driving through your garage door and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Coverage for uninsured or underinsured drivers

This coverage gives you protection when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 8 Series.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Normally these coverages are identical to your policy’s liability coverage.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like rehabilitation expenses, ambulance fees, funeral costs, hospital visits and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state and may carry a deductible

Liability car insurance

This coverage protects you from damage that occurs to other’s property or people that is your fault. It protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 that translate to a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability insurance covers things like medical services, bail bonds, structural damage, medical expenses and funeral expenses. How much coverage you buy is your choice, but buy as much as you can afford.

Comprehensive auto insurance

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like hitting a deer, hitting a bird and vandalism. The maximum payout your auto insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

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

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Never pay more for less

We’ve covered a lot of ways to reduce 1996 BMW 8 Series insurance premium rates online. The most important thing to understand is the more providers you compare, the better your chances of lowering your prices. You may be surprised to find that the lowest premium rates are with a small mutual company.

The cheapest 1996 BMW 8 Series insurance can be bought online as well as from insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who may not have price quotes online and many times these regional insurance providers only sell coverage through local independent agencies.

As you shop your coverage around, do not sacrifice coverage to reduce premiums. In many cases, drivers have reduced physical damage coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your aim should be to get the best coverage possible at a price you can afford but still have enough coverage for asset protection.

Even more information can be found in the articles below: