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: Oct 6, 2015

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Want cheaper car insurance rates for your BMW X3? No one likes paying for car insurance, especially when they are aware that they could lower their rates if they shopped around.

Since you have so many car insurance companies to choose from, it can be diffult for drivers to choose the cheapest insurance company.

It’s a good habit to take a look at other company’s rates every six months because car insurance prices go up and down regularly. Just because you had the lowest price for X3 coverage at your last renewal you can probably find a lower rate today. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the fastest and easiest way to get good coverage at a lower rate.

The purpose of this post is to help educate you on how car insurance quotes work. If you are paying for car insurance now, you should be able to save some money using these methods. Nevertheless, drivers must comprehend the way companies determine prices and take advantage of how the system works.

How to lower your insurance prices

Many different elements are considered when you quote your car insurance policy. Some factors are common sense like your driving record, but others are not as apparent such as whether you are married or your vehicle rating.

The list below includes just a few of the factors used by companies to determine premiums.

  • If you don’t need it don’t buy it – There are a lot of additional coverages you can purchase if you aren’t diligent. Things like roadside assistance, accident forgiveness, and motor club memberships are examples of these. They may sound like good ideas when talking to your agent, but now you might not need them so remove them and pocket the money.
  • Lower stress equals lower premiums – Occupations such as military personnel, architects and emergency personnel have higher premium rates because of intense work situations and extremely grueling work hours. On the flip side, jobs such as professors, students and homemakers generally pay rates lower than average for X3 coverage.
  • Cars with good safety ratings cost less to insure – Safer cars cost less to insure. Highly rated vehicles protect occupants better and lower rates of occupant injuries means your insurance company pays less which can result in lower premiums.
  • Limits of liability coverage – Liability insurance is the coverage that protects you in the event that a jury decides you are liable for personal injury or accident damage. It provides legal defense to attempt to prove you were not liable. Liability insurance is pretty cheap compared to other policy coverages, so drivers should carry high limits.
  • Teen drivers pay more – Older, more experienced drivers are more cautious drivers, statistically cause fewer accidents , and usually have better credit.Beginning drivers are proven to be more careless when behind the wheel so they pay higher auto insurance rates.

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

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Low cost auto insurance

All major auto insurance companies allow consumers to get insurance quotes from their websites. Getting quotes is pretty easy as all you need to do is type in your required coverages into the form. When the form is submitted, the company’s rating system sends out for your driving and credit reports and quotes a price. Online price estimates makes comparing rates easy, but the work required to visit many different websites and type in your information can get tiresome after awhile. But it’s necessary to perform this step if you want to get better prices.

The easiest way to lower your rates uses one form that obtains quotes from more than one company. The form is fast, helps eliminate reptitive entry, and makes online price comparison much easier to do. As soon as you send your information, it is quoted with multiple companies and you can pick your choice of the quotes returned.

If a lower price is quoted, you can simply submit the application and buy the new coverage. The entire process takes 15 minutes at the most and you will know how your current rates stack up.

If you want to find out how much you’re overpaying now, click here to open in new window and enter your information. To compare your current rates, we recommend you enter the coverage information as shown on your current policy. Doing this guarantees you’re receiving a rate comparison using the same coverage and limits.

Lower-cost insurance coverage quotes with discounts

The cost of insuring your cars can be expensive, but you can get discounts that you may not even be aware of. Some discounts apply automatically at the time you complete a quote, but a few must be asked about prior to receiving the credit.

  • Claim Free – Claim-free drivers can earn big discounts as compared to drivers who are more careless.
  • Onboard Data Collection – Drivers who elect to allow data collection to monitor their driving habits by using a telematic data system like In-Drive from State Farm and Progressive’s Snapshot could save a few bucks if they have good driving habits.
  • Paperwork-free – Many larger companies give back up to $50 shop insurance on your computer.
  • Theft Prevention Discount – Cars equipped with anti-theft or alarm systems have a lower chance of being stolen and qualify for as much as a 10% discount.
  • Military Discounts – Being deployed with a military unit can result in better rates.
  • Savings for New Vehicles – Buying a new car model is cheaper compared to insuring an older model.
  • Anti-lock Brake System – Cars with ABS braking systems or traction control are safer to drive so companies give up to a 10% discount.
  • Discounts for Multiple Vehicles – Buying coverage for multiple cars with the same company could earn a price break for each car.
  • Air Bags and Passive Restraints – Vehicles with factory air bags can get savings of 25 to 30%.

As is typical with insurance, some of the credits will not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though you would think you could get a free insurance coverage policy, nobody gets a free ride.

Insurance companies that may have most of these discounts may include but are not limited to:

If you are trying to find inexpensive insurance quotes, ask each insurance company which discounts you qualify for. Some discounts listed above might not be available to policyholders in your state. To view insurance coverage companies that provide some of the discounts listed above, click this link.

Tailor your auto insurance coverage to you

When choosing coverage for your personal vehicles, there really is not a one size fits all plan. Your needs are not the same as everyone else’s so your insurance should reflect that For example, these questions could help you determine if you will benefit from professional help.

  • Are my friends covered when driving my 2016 BMW X3?
  • Am I covered when driving on a suspended license?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • What exactly is covered by my policy?
  • Does medical payments coverage apply to all occupants?
  • Is there coverage for injuries to my pets?
  • At what point should I drop full coverage?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area.

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

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Specific coverage details

Understanding the coverages of your auto insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages found on the average auto insurance policy.

Coverage for liability

Liability insurance protects you from damage or injury you incur to other’s property or people in an accident. This coverage protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Alternatively, you may have one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability can pay for claims like bail bonds, medical expenses and funeral expenses. How much coverage you buy is your choice, but buy as much as you can afford.

Uninsured or underinsured coverage

This provides protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries to you and your family as well as damage to your BMW X3.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Normally the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive protection

Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims such as rock chips in glass, fire damage and hitting a deer. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical expense coverage

Med pay and PIP coverage pay for bills for X-ray expenses, surgery and nursing services. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Collision protection

Collision coverage covers damage to your X3 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like sideswiping another vehicle, scraping a guard rail and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. You can also increase the deductible to get cheaper collision coverage.

Have the Midas touch

As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. In many cases, an accident victim reduced full coverage and discovered at claim time that the few dollars in savings costed them thousands. Your objective should be to buy enough coverage at the lowest possible cost, but don’t skip important coverages to save money.

Budget-friendly insurance coverage is attainable on the web and from local insurance agents, so you need to shop insurance with both in order to have the best price selection to choose from. Some insurance companies do not provide internet price quotes and these small, regional companies only sell through independent agents.

We’ve covered a lot of ways to shop for 2016 BMW X3 insurance online. The key concept to understand is the more quotes you get, the better your comparison will be. You may be surprised to find that the lowest priced insurance coverage comes from a company that doesn’t do a lot of advertising. Smaller companies often have lower premium rates on specific markets as compared to the big name companies such as Allstate, GEICO and Progressive.

Much more information about insurance coverage can be read at the links below