2017 BMW i3 Car Insurance Quotes

Trying to find lower auto insurance rates for your BMW i3? Did you fall for a flashy sales pitch and buy overpriced auto insurance? You’re preaching to the choir because many consumers feel financially strained by their auto insurance policy.

Because there are so many choices of insurance companies, it is very difficult to choose the lowest cost insurance company.

It is always a good idea to get comparison quotes on a regular basis because auto insurance prices are constantly changing. Even if you got the best price on i3 insurance a few years ago the chances are good that you can find a lower rate today. You can find a lot of wrong information about auto insurance online, but in just a couple of minutes you can learn some great ways to stop overpaying for insurance.

This information will introduce you to the most effective way to quote insurance. If you have car insurance now, you will most likely be able to reduce your rates substantially using these tips. Although drivers can benefit from knowing how the larger insurance companies determine prices.

Shop car insurance online

There are several ways to compare car insurance prices but some are less labor-intensive and much quicker. You can waste hours talking to insurance companies in your area, or you can utilize the internet to get prices fast.

Most major companies take part in a program that enables customers to submit their information once, and each participating company then returns a price quote based on that data. This prevents consumers from doing form submissions to each individual car insurance company. To compare rates now click here to open in new window.

One minor caviat to comparing rates this way is you don’t know exactly which insurance companies to receive prices from. If you would rather choose specific providers for rate comparison, we have assembled a list of low cost car insurance companies in your area. View list of insurance companies.

It’s up to you which method you use, but make sure you compare the exact same quote information with every price quote. If you have different liability limits it will be next to impossible to determine which company has the best rates. Just slight variations in insurance coverages or limits may result in a large different in cost. Just keep in mind that quoting more provides better odds of finding lower pricing. Some companies don’t provide online quotes, so you also need to get price quotes from those companies as well.

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Find discounts to get cheap auto insurance quotes

The cost of insuring your cars can be expensive, but you might find some hidden discounts to reduce the price significantly. Larger premium reductions will be automatically applied at quote time, but occassionally some discounts must be manually applied prior to receiving the credit. If you are not receiving all the discounts available, you could be saving more on your auto insurance.

• Paperwork-free – Some larger companies will discount your bill up to fifty bucks for completing your application on the internet.
• Discounts for New Vehicles – Insuring a new car can save up to 30% because new vehicles keep occupants safer.
• Federal Employees – Federal government employees can save as much as 8% on i3 insurance but check with your company.
• Resident Student – Children who are enrolled in higher education away from home and do not have access to a covered vehicle could get you a discount.
• Defensive Driving Course – Taking part in a safe driver course could cut 5% off your bill depending on where you live.
• Driving Data Discount – Insureds who allow their company to spy on where and when they drive through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm might see lower rates if they have good driving habits.
• Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle their seat belts could save 15% off the personal injury premium cost.
• Renewal Discounts – A few insurance companies allow discounts for switching companies early. The savings is around 10%.

Keep in mind that some of the credits will not apply the the whole policy. Most only reduce individual premiums such as liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, insurance companies wouldn’t stay in business.

A few companies that may offer quotes with some of the discounts shown above include:

• The Hartford
• American Family
• Progressive
• Travelers
• Farmers Insurance
• USAA
• Liberty Mutual

When quoting, ask every prospective company to give you their best rates. Some of the earlier mentioned discounts may not be available in your area. If you would like to choose from a list of insurance companies that offer multiple discounts, follow this link.

Smart choices result in lower insurance costs

Multiple criteria are used when premium rates are determined. Some are obvious like an MVR report, but some are not as apparent such as your marital status and annual miles driven.

• Vehicles with better crash test results that cut rates – Purchasing a vehicle with anti-theft technology or alarm system can earn a premium discount. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop auto theft.
• Improve your credit score – A driver’s credit rating is likely to be a major factor in determining what you pay. If your credit is low, you may save money insuring your 2017 BMW i3 by taking the time to improve your credit score. Drivers who have high credit ratings tend to be more responsible and file fewer claims than drivers who have bad credit.
• Small coverages can add up – There are quite a few extra bells and whistles that can waste your money if you don’t pay attention. Things like replacement cost coverage, death and dismemberment, and extra equipment coverage may be wasting your money. The coverages may be enticing initially, but your needs may have changed so remove them from your policy.
• Vocation stress can make you pay more – Did you know your car insurance rates can be affected by your occupation? Occupations such as military generals, business owners and miners tend to pay higher average rates attributed to job stress and extremely grueling work hours. On the other hand, professions such as farmers, students and homemakers have lower than average premiums on i3 insurance.
• Avoid car insurance policy lapses – Not having insurance can get you a ticket and as a result your rates will increase for letting your insurance coverage expire. Not only will you pay higher rates, getting caught without coverage could result in a license revocation or jail time.

Tailor your insurance coverage coverage to you

When buying the best insurance coverage coverage for your personal vehicles, there really is no best way to insure your cars. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions can help discover whether your personal situation might need professional guidance.

• Is my 2017 BMW i3 covered for smoke damage?
• Do I have newly-aquired coverage?
• What is PIP insurance?
• Should I waive the damage coverage when renting a car?
• Should I sign the liability waiver when renting a car?
• How much can I save by bundling my policies?
• When would I need rental car insurance?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

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Car insurance myths debunked

Well-known car insurance companies like Progressive, Geico, Allstate and State Farm seem to constantly run television, radio, and online ads. They all make the point that drivers can save some big amount after switching your coverage to them. How is it possible that every company can make almost identical claims? Here is the trick they use.

Different companies are able to cherry pick for a prospective insured that will generate a profit. An example of a profitable insured could be over the age of 40, has no prior claims, and the vehicle is rated for pleasure use. A customer getting a price quote who fits that profile will qualify for the lowest rates and is almost guaranteed to cut their rates substantially.

People who cannot meet the ideal profile will see more expensive rates which translates to business going elsewhere. The wording the ads use say “people who switch” not “everybody who quotes” save the amount stated. That is how insurance companies can confidently make claims like that.

This emphasizes why it’s extremely important to quote coverage with many companies. It is impossible to guess the company that will fit your personal profile best.

Auto insurance 101

Learning about specific coverages of car insurance can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverages found on the average car insurance policy.

Liability – This will cover injuries or damage you cause to a person or their property. It protects you against claims from other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 which means $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things like pain and suffering, attorney fees and structural damage. How much liability should you purchase? That is your choice, but consider buying as high a limit as you can afford.

Collision coverage – This will pay to fix damage to your i3 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims like driving through your garage door, crashing into a ditch, hitting a parking meter and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Comprehensive coverage (or Other than Collision) – This pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as hail damage, falling objects, damage from getting keyed and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your BMW i3.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Insurance for medical payments – Med pay and PIP coverage pay for short-term medical expenses such as X-ray expenses, nursing services and dental work. They can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

In Summary

Throughout this article, we presented quite a bit of information on how to get a better price on 2017 BMW i3 insurance. The most important thing to understand is the more companies you get premium rates for, the more likely it is that you will get a better rate. Consumers may even find the most savings is with some of the lesser-known companies. Regional companies may only write in your state and offer lower premium rates than their larger competitors like Geico and State Farm.

As you restructure your insurance plan, you should never reduce coverage to reduce premium. In many cases, someone dropped uninsured motorist or liability limits to discover at claim time that it was a big mistake. Your focus should be to find the BEST coverage at the best price, not the least amount of coverage.

To learn more, take a look at the resources below:

• State Car Insurance Guides (Geico)
• Smart Auto Insurance Tips (Insurance Information Insitute)
• If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
• How to Avoid Common Accidents (State Farm)

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

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