Looking for lower car insurance rates for your BMW X4? Did you fall for a flashy sales pitch and buy high-priced car insurance? It’s quite common and there are lots of people in the same boat.
Insurance companies such as Allstate, Progressive and GEICO continually bombard you with advertising and it is difficult to separate fact from fiction and effectively compare rates to find the best deal.
It’s a good idea to price shop coverage periodically because car insurance rates tend to go up over time. Even if you got the lowest premium rates for X4 insurance at your last renewal a different company probably has better prices today. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the only way to properly buy coverages while reducing your premium.
To find the best insurance rates, there are several ways of comparing rate quotes from different companies. The simplest method to do a complete rate comparison is to perform an online rate comparison. This is very easy and can be done using a couple different methods.
For a list of companies in your area, click here.
Whichever way you use, do your best to enter the exact same coverage limits and deductibles for every quote you compare. If you have unequal deductibles or liability limits you will not be able to make a fair rate comparison. Quoting even small variations in coverage limits may cause a big price difference. And when price shopping your coverage, quoting more helps locate a lower rate. Some smaller insurers to not give online price quotes, so you need to compare price quotes from those companies as well.
When it comes to choosing the right insurance coverage, there isn’t really a one size fits all plan. Every situation is different so your insurance should reflect that Here are some questions about coverages that might help in determining if your situation could use an agent’s help.
If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Understanding the coverages of auto insurance aids in choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on most auto insurance policies.
Coverage for medical payments
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for X-ray expenses, chiropractic care and EMT expenses. They can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover both the driver and occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
This coverage covers damage to your X4 caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things like crashing into a ditch, colliding with another moving vehicle, hitting a mailbox and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and damage to your BMW X4.
Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
This pays for damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like hail damage, damage from flooding, a tree branch falling on your vehicle and hitting a bird. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Auto liability insurance
This coverage protects you from injuries or damage you cause to a person or their property. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 50/100/50 which means a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.
Liability coverage protects against claims like medical services, funeral expenses, loss of income, bail bonds and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.