Overwhelmed by the crazy number of insurance companies in your area? People have so many companies available that it can quickly become a challenge to find the best rates.
Smart consumers take time to shop coverage around quite often because prices change quite often. If you had the lowest price for 4 Series coverage last year you may be paying too much now. Forget anything you know (or think you know) about insurance because you’re going to get a crash course in the best way to lower your annual insurance bill.
The quickest way to compare insurance rates in your area is to know the trick almost all companies have advanced systems to compare their rates. To start a quote, the only thing you need to do is provide a small amount of information such as whether you drive to work or school, driver ages, if a SR-22 is required, and if you are currently licensed. Your details is instantly provided to multiple companies and you will receive price estimates immediately.
Car insurance is not cheap nor is it fun to buy but you might find some hidden discounts that many consumers don’t even know exist. Certain discounts will be applied when you quote, but some must be requested specifically prior to getting the savings.
Policy discounts save money, but some of the credits will not apply the the whole policy. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you could get a free car insurance policy, it just doesn’t work that way.
A partial list of companies that have these benefits include:
When getting free car insurance quotes, it’s a good idea to all companies you are considering how many discounts you can get. Savings might not apply in your area. To see a list of car insurance companies who offer car insurance discounts, click here to view.
When it comes to choosing the best car insurance coverage, there really is no cookie cutter policy. Everyone’s needs are different.
Here are some questions about coverages that might point out whether you would benefit from professional advice.
If you don’t know the answers to these questions then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form.
Smart consumers have a good feel for some of the factors that come into play when calculating your policy premiums. If you understand what impacts premium levels, this enables informed choices that may reward you with much lower annual insurance costs.
Listed below are some of the most common factors car insurance companies consider when setting your rate level.
Companies like 21st Century, Allstate and State Farm regularly use ads on TV and radio. They all seem to make the point that you can save after switching your policy. That’s great but how can every company give you a lower rate? This is how they do it.
Companies are able to cherry pick for the type of driver that earns them the highest profit. For instance, a profitable customer may be between the ages of 30 and 45, has no prior claims, and drives a vehicle with a low ISO rating. A propective insured who meets those qualifications may get the lowest premium rates and most likely will save when they switch companies.
Potential insureds who don’t meet this stringent profile will be charged higher premiums and ends up with business going elsewhere. The ad wording is “drivers that switch” not “everybody who quotes” will save that much if they switch. This is how insurance companies can advertise the way they do. Different companies use different criteria so drivers must get car insurance quotes from several different companies. Because without a comparison, you cannot know which insurance companies will have the best prices.
Having a good grasp of your policy can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement.
Liability – This coverage protects you from injuries or damage you cause to other’s property or people. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 50/100/50 which means $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.
Liability can pay for claims such as structural damage, pain and suffering, medical services and court costs. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford.
Uninsured/Underinsured Motorist (UM/UIM) – This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
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. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Collision – This coverage covers damage to your 4 Series resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like hitting a mailbox, sideswiping another vehicle and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like pain medications, funeral costs, chiropractic care, EMT expenses and nursing services. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay
Comprehensive insurance – This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as damage from flooding, a broken windshield, rock chips in glass, hail damage and fire damage. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
We’ve covered many ways to lower your 2016 BMW 4 Series insurance prices. It’s most important to understand that the more rate comparisons you have, the better chance you’ll have of finding low cost car insurance. You may even find the most savings is with a lesser-known regional company.
More affordable insurance coverage is definitely available online as well as from independent agents, so you should be comparing quotes from both to have the best selection. Some insurance providers may not have internet price quotes and most of the time these regional carriers work with local independent agencies.
When shopping online for insurance coverage, do not reduce coverage to reduce premium. There are many occasions where someone sacrificed full coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.
For more information, link through to the resources below: