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: Feb 6, 2018

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Trying to find cheaper insurance rates for your BMW 3 Series? No one likes paying for insurance, especially when they could get a better deal.

Lots of auto insurance companies contend to insure your vehicles, and it can be difficult to compare rates and get the best coverage at the lowest rate

Smart consumers take time to shop coverage around as often as possible since insurance prices go up and down regularly. Just because you had the best deal on 3 Series coverage a couple years back you can probably find a lower rate today. Block out anything you think you know about insurance because it’s time to teach you the tricks you need to know to remove unneeded coverages and save money.

If you currently have car insurance, you stand a good chance to be able to save some money using these tips. Choosing the best insurance company for you is easy if you know what you’re doing. But vehicle owners must know how companies determine prices and use this information to your advantage.

Buy car insurance online

Many insurance companies like 21st Century, Allstate and State Farm allow you to get coverage price quotes from their websites. Doing online quotes is quite simple as you simply type in into the form. Behind the scenes, the company’s rating system automatically retrieves your credit score and driving record and provides a quote determined by many factors. This makes comparing rates easy, but having to visit multiple sites and type in your information is a waste of time. But it’s necessary to have as many quotes as possible if you are searching for the best price on car insurance.

An easier way to compare rates uses one simple form that analyzes rates from several different companies. The form is fast, requires less work, and makes quoting online much more enjoyable and efficient. Once the form is submitted, your coverage is rated and you are able to buy any of the resulting price quotes. If the quotes result in lower rates, you simply finish the application and purchase the new policy. It can be completed in less than 10 minutes and you’ll know if lower rates are available.

To fill out one form to compare multiple rates now, click here to open in a new tab and begin entering your coverage information. To compare your current rates, we recommend you replicate your coverages just like they are on your policy. This ensures you will have a fair comparison using the exact same coverages.

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

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Insurance companies offer money-saving discounts

Not too many consumers would say insurance is affordable, but there are discounts available that may help make it more affordable. Many discounts should be triggered at quote time, but once in a while a discount must be asked for prior to receiving the credit.

  • No Claim Discounts – Drivers with accident-free driving histories pay much less in comparison with policyholders that have many claims.
  • Low Mileage Discounts – Fewer annual miles on your BMW could earn slightly better premium rates than normal.
  • Student Discounts – A discount for being a good student can get you a discount of up to 25%. The discount lasts up to age 25.
  • Sign Online – Some of the larger companies give back up to $50 get auto insurance on the internet.
  • More Vehicles More Savings – Purchasing coverage when you have multiple cars on a single policy may reduce the rate for each vehicle.
  • No Charge for an Accident – Not necessarily a discount, but companies like Liberty Mutual, Allstate and State Farm will forgive one accident without getting socked with a rate hike if you are claim-free prior to being involved in the accident.
  • Early Switch Discount – A few insurance companies give discounts for switching companies before your current coverage expires. The savings is around 10%.
  • Use Seat Belts – Drivers who require all occupants to use their safety belts can save 10% or more on medical payment and PIP coverage.
  • Homeowners Savings – Just being a homeowner can get you a discount because owning a home means you have a higher level of financial diligence.
  • Membership in Organizations – Being a member of qualifying employment or professional organizations is a simple method to lower premiums on your bill.

As a disclaimer on discounts, most credits do not apply the the whole policy. Some only apply to individual premiums such as liability, collision or medical payments. So when it seems like you could get a free insurance policy, insurance companies wouldn’t stay in business.

A list of insurance companies and some of the discounts are:

  • State Farm offers discounts including student away at school, multiple autos, driver’s education, defensive driving training, anti-theft, Steer Clear safe driver discount, and good student.
  • Farmers Insurance has discounts for pay in full, switch companies, homeowner, business and professional, bundle discounts, and teen driver.
  • GEICO discounts include emergency military deployment, defensive driver, military active duty, daytime running lights, and five-year accident-free.
  • American Family has savings for early bird, TimeAway discount, defensive driver, Steer into Savings, multi-vehicle, air bags, and bundled insurance.
  • Nationwide may include discounts for multi-policy, family plan, accident-free, defensive driving, anti-theft, and easy pay.
  • Progressive includes discounts for multi-vehicle, continuous coverage, homeowner, good student, online quote discount, online signing, and multi-policy.

It’s a good idea to ask every prospective company the best way to save money. Savings may not apply everywhere. To locate insurers that offer some of these discounts, click here.

Do I just need basic coverages?

When choosing adequate coverage for your vehicles, there isn’t really a “best” method to buy coverage. Every situation is different so your insurance needs to address that. These are some specific questions might point out whether you could use an agent’s help.

  • Am I better off with higher deductibles on my 2005 BMW 3 Series?
  • Is there coverage for injuries to my pets?
  • How much liability do I need to cover my assets?
  • Am I getting all the discounts available?
  • Does having multiple vehicles earn me a discount?
  • Do I need PIP coverage since I have good health insurance?
  • Does my insurance cover a custom paint job?

If you’re not sure about those questions, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.

Car insurance coverage basics

Having a good grasp of your car insurance policy aids in choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be confusing and coverage can change by endorsement. These are the usual coverages offered by car insurance companies.

Collision coverage – Collision coverage will pay to fix damage to your 3 Series resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like rolling your car, colliding with a tree and driving through your garage door. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. You can also raise the deductible to bring the cost down.

Comprehensive coverage (or Other than Collision) – This covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as damage from a tornado or hurricane, fire damage, hitting a deer, hail damage and hitting a bird. The maximum amount a car insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your 2005 BMW 3 Series.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Coverage for liability – This coverage can cover injuries or damage you cause to other people or property in an accident. This coverage protects you from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as funeral expenses, medical services, medical expenses, structural damage and attorney fees. How much liability coverage do you need? That is your choice, but you should buy as much as you can afford.

Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for bills like EMT expenses, dental work, nursing services and ambulance fees. The coverages can be utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage