Cheaper 2015 BMW 3 Series Insurance Rates
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UPDATED: Oct 6, 2015
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Locating cheaper insurance for a BMW 3 Series can turn out to be difficult, but you can use the following methods to find lower rates.
There is a better way to compare insurance rates so you’re going to learn the absolute fastest way to quote coverages on a BMW and obtain the best price possible from local insurance agents and online providers.
How much is insurance coverage?
Shopping for lower insurance coverage rates can be challenging if you don’t utilize the most efficient way. You can spend countless hours discussing policy coverages with agents in your area, or you can utilize online quoting to maximize your effort.
The majority of car insurance companies participate in an industry program where prospective buyers complete one form, and every company returns a rated price based on that information. This system prevents you from having to do quote forms for every insurance coverage company. To compare rates now click here (opens in new window).
The one downside to comparing rates this way is you can’t choose which insurance companies to get quotes from. If you would rather choose specific insurance companies for rate comparison, we put together a list of insurance coverage companies in your area. Click here to view list.
Compare rates however you want, just do your best to use nearly identical information for each quote you get. If the quotes have different deductibles it will be next to impossible to determine which company has the best rates.
Enter your zip code below to view companies that have cheap auto insurance rates.
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Can you really save that much by switching?
Consumers get pounded daily by advertisements for car insurance savings by companies like Progressive, Allstate and GEICO. They all seem to state the claim about savings just by moving your coverage to them.
How does each company cost less than your current company? Here is the trick they use.
Insurance companies have a preferred profile for the type of customer that will most likely be profitable. A good example of a profitable risk profile may need to be a married male, has other policies, and drives a lower-performance vehicle. A propective insured who matches those parameters will probably get cheap premium rates and is almost guaranteed to save money with a new company.
Insureds who fall outside the ideal profile will be charged higher rates and this can result in business not being written. The ads state “people who switch” not “everyone who quotes” will save that much if they switch. This is how companies can truthfully make those claims.
Different companies use different criteria so you really need to compare free auto insurance quotes often. Because you cannot predict which insurance companies will have better prices than you’re paying now.
Why your insurance prices might be higher
Many things are taken into consideration when premium rates are determined. Some are obvious such as traffic violations, but some are less obvious such as whether you are married or your commute time.When buying insurance coverage it’s important to understand the factors that aid in calculating the rates you pay for insurance coverage. When you know what positively or negatively determines base rates, this allows you to make good choices that can earn you much lower annual insurance costs.
The list below includes a partial list of the pieces used by insurance companies to determine rates.
- Vehicles with better crash test results lower insurance coverage rates – Safer cars tend to have better insurance rates. Vehicles built for safety reduce the chance of injuries and fewer injuries translates into fewer and smaller insurance claims and cheaper rates on your policy.
- Do you have a tough vocation? – Careers like doctorspolice officers and accountants tend to pay higher premium rates in part from high stress and extremely grueling work hours. Other careers like actors, engineers and the unemployed receive lower rates for 3 Series coverage.
- Never let your coverage lapse – Allowing your coverage to lapse is a quick way to trigger a rate increase. And not only will insurance be more expensive, not being able to provide proof of insurance could earn you fines and jail time. You may then have to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.
- Does insurance coverage cost less for women? – Statistics show that females tend to be a little less risky than males. However, this does not mean women are better drivers. Men and women cause fender benders at about the same rate, but guys tend to have higher claims. Men also tend to get more serious tickets such as reckless driving. Male teenagers are several times more likely to be in an accident so it costs more to insure them.
- Single vs. married – Having a wife or husband may earn you lower rates on your insurance coverage bill. Marriage may mean you are less irresponsible and insurance companies like that married couples file fewer claims.
- How much liability protection do you need? – Your insurance coverage policy’s liability coverage will afford coverage if you are ruled to be at fault for an accident. Liability provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not cut corners here.
Car Insurance Discounts
Car insurance is expensive, but discounts can save money and there are some available that can drop the cost substantially. Some discounts will apply when you get a quote, but once in a while a discount must be inquired about prior to receiving the credit.
- Home Ownership Discount – Simply owning a home can save you money because owning a home demonstrates responsibility.
- Discounts for Responsible Drivers – Drivers who avoid accidents can pay as much as 50% less for 3 Series coverage than drivers with accident claims.
- Claim-Free Discount – Good drivers with no accidents pay much less as compared to policyholders that have many claims.
- 55 and Retired – Mature drivers can get a discount up to 10% for 3 Series coverage.
- Telematics Devices – Drivers who elect to allow companies to monitor driving manner by installing a telematics device such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks if their driving habits are good.
- Pay Now and Pay Less – By making one initial payment instead of making monthly payments you may have a lower total premium amount.
- Theft Deterent System – Cars and trucks equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and therefore earn up to a 10% discount.
Remember that many deductions do not apply the the whole policy. Some only apply to the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears you can get free auto insurance, company stockholders wouldn’t be very happy.
Popular car insurance companies and their offered discounts are outlined below.
- Progressive policyholders can earn discounts including multi-policy, homeowner, online signing, continuous coverage, good student, and multi-vehicle.
- The Hartford offers discounts for air bag, anti-theft, vehicle fuel type, good student, and bundle.
- Mercury Insurance discounts include accident-free, anti-theft, good driver, age of vehicle, type of vehicle, professional/association, and good student.
- GEICO offers premium reductions for military active duty, anti-theft, membership and employees, multi-policy, driver training, and defensive driver.
- AAA has discounts for multi-car, education and occupation, good driver, AAA membership discount, good student, and pay-in-full.
- State Farm offers discounts including good driver, Steer Clear safe driver discount, student away at school, Drive Safe & Save, driver’s education, and anti-theft.
Before you buy a policy, ask each company or agent which discounts you qualify for. All car insurance discounts might not be offered in your area. To see car insurance companies that offer multiple discounts, click this link.
Enter your zip code below to view companies that have cheap auto insurance rates.
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Tailor your insurance coverage to you
When buying coverage, there is no single plan that fits everyone. Everyone’s needs are different.
Here are some questions about coverages that may help you determine whether or not you might need an agent’s assistance.
- Can I rate high risk drivers on liability-only vehicles?
- Can I afford low physical damage deductibles?
- Where can I find high-risk insurance?
- Should I buy additional glass protection?
- I don’t drive much so do I pay less?
- Can I rent a car in Mexico?
If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form. It’s fast, free and you can get the answers you need.
Car insurance coverages for a 2015 BMW 3 Series
Learning about specific coverages of a car insurance policy aids in choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.
Comprehensive or Other Than Collision
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as damage from flooding, hitting a deer, damage from getting keyed and hail damage. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like chiropractic care, pain medications, EMT expenses, funeral costs and dental work. They are used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants in addition to being hit by a car walking across the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Coverage for collisions
This pays to fix your vehicle from damage resulting from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things like colliding with another moving vehicle, backing into a parked car and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to raise the deductible to bring the cost down.
This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and damage to your BMW 3 Series.
Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Liability auto insurance
This coverage provides protection from damage or injury you incur to a person or their property in an accident. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for claims like legal defense fees, medical services, repair costs for stationary objects, pain and suffering and loss of income. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford.
Pennies from heaven
Cost effective 2015 BMW 3 Series insurance is attainable on the web in addition to many insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance coverage companies don’t offer rate quotes online and many times these smaller companies prefer to sell through independent agents.
As you restructure your insurance plan, make sure you don’t buy lower coverage limits just to save a few bucks. In too many instances, someone dropped collision coverage only to regret they didn’t purchase enough coverage. The proper strategy is to buy a smart amount of coverage at an affordable rate but still have enough coverage for asset protection.
Drivers leave their current company for a number of reasons such as extreme rates for teen drivers, unfair underwriting practices, not issuing a premium refund and poor customer service. Regardless of your reason, finding a new insurance coverage company is easier than you think.
Additional information is available at the links below