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: Nov 10, 2018

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Searching for lower insurance rates for your BMW i8? Perplexed by the crazy number of insurance companies that you can choose from? You have such a vast assortment of companies available that it can be a real hassle to find a cheaper company.

The purpose of this article is to teach you the most effective way to quote insurance. If you have car insurance now, you should be able to cut costs considerably using these tips. Nevertheless, vehicle owners do need to know the way insurance companies sell insurance online because it can help you find the best coverage.

Lower rate quotes by taking advantage of discounts

Auto insurance is easily one of your largest bills, but there may be some discounts that you may not know about. Many discounts should be triggered when you get a quote, but once in a while a discount must be inquired about before being credited.

  • Senior Citizen Rates – Drivers over the age of 55 may qualify for a small discount on rates on i8 insurance.
  • Distant Student – College-age children who live away from home to go to college and don’t have a car can receive lower rates.
  • Multi-car Discount – Drivers who insure multiple cars or trucks with one company could earn a price break for each car.
  • Early Renewal Discounts – A few companies allow discounts for switching to them prior to the expiration date on your current policy. Ten percent is about the average savings.
  • Passenger Safety Discount – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of more than 20%.
  • E-sign – Some larger companies will discount your bill up to fifty bucks get auto insurance digitally online.
  • Anti-theft Discount – Cars with anti-theft systems have a lower chance of being stolen and qualify for as much as a 10% discount.
  • Buy New and Save – Buying insurance on a new vehicle can be considerably cheaper compared to insuring an older model.

Keep in mind that most of the big mark downs will not be given the the whole policy. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think you would end up receiving a 100% discount, companies don’t profit that way.

To see insurance companies that can offer you the previously mentioned discounts, click here.

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

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How much auto insurance do I need?

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no cookie cutter policy. Every situation is different.

For example, these questions could help you determine whether you might need an agent’s assistance.

  • I don’t drive much so do I pay less?
  • Does my insurance cover a custom paint job?
  • Is upholstery damage covered by car insurance?
  • What is no-fault insurance?
  • Do I need an umbrella policy?
  • Should I rate my 2014 BMW i8 as pleasure use or commute?
  • If I drive on a suspended license am I covered?
  • How much can I save by bundling my policies?
  • Should I buy additional glass protection?
  • Should I sign the liability waiver when renting a car?

If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, take a second and complete this form.

Coverage specifics

Understanding the coverages of a car insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your BMW i8.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.


This protects you from damage that occurs to a person or their property by causing an accident. It protects YOU against claims from other people. It does not cover your injuries or vehicle damage.

It consists of 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 policy limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for things like emergency aid, court costs and pain and suffering. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Collision coverage

This pays for damage to your i8 resulting from colliding 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 protects against claims such as rolling your car, colliding with another moving vehicle and crashing into a ditch. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to raise the deductible to save money on collision insurance.

Medical payments and PIP coverage

Med pay and PIP coverage kick in for bills for things like doctor visits, funeral costs, surgery, nursing services and pain medications. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible

Comprehensive auto coverage

Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as damage from a tornado or hurricane, a broken windshield, damage from getting keyed and hitting a deer. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Final considerations

Drivers who switch companies do it for many reasons like questionable increases in premium, high prices, delays in responding to claim requests and high rates after DUI convictions. Whatever your reason, switching auto insurance companies is easier than you think.

As you quote auto insurance, do not buy lower coverage limits just to save a few bucks. In many cases, an insured cut collision coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your objective should be to get the best coverage possible at a price you can afford and still be able to protect your assets.

Some insurance companies do not offer rates over the internet and usually these small, regional companies prefer to sell through local independent agents. Cheap 2014 BMW i8 insurance is possible on the web and from local agencies, and you need to price shop both so you have a total pricing picture.

Additional auto insurance information can be found at the links below