View 1991 BMW 8 Series Car Insurance Cost

Trying to find lower insurance coverage rates for your BMW 8 Series? Overwhelmed by the crazy number of insurance coverage choices? You’re not the only one! People have so many options available that it can quickly become a big hassle to find the perfect company for you.

How to Get Cheap Insurance Coverage

There are several ways of comparing rates and find the best price. By far the easiest way to compare 1991 BMW 8 Series insurance prices consists of obtaining rate quotes online. This can be accomplished using a couple different methods.

  1. The first (and easiest) way to get the best comparison quotes would be an industry-wide quote request form (click to open form in new window). This form keeps you from doing multiple quote forms for each company. A single, simple form gets you price quotes direct from many companies. It’s definitely the quickest method.
  2. A harder way to shop for insurance coverage online is spending the time to visit the website of each company to complete a price quote. For example, let’s say you want to compare rates from Farmers, Esurance and Liberty Mutual. To get rate quotes you would need to visit each site and enter your policy data, which is why the first method is quicker. To view a list of companies in your area, click here.
  3. The least efficient method to compare rates is driving to insurance agents’ offices. Shopping for insurance coverage online eliminates the need for an insurance agent unless you want the professional guidance of a local agent. You can, however, compare online quotes but buy from a local insurance agent.

It’s up to you which method you use, but make darn sure you compare the exact same quote information on every quote. If you are comparing unequal deductibles or liability limits then you won’t be able to make an equal comparison. Having just a slight variation in coverages can result in a big premium difference. Keep in mind that getting more free quotes provides better odds of finding a lower rate.

Don’t listen to company ads

Geico, State Farm and Progressive regularly use ads on TV and radio. All the companies have a common claim that you’ll save big if you move to their company. How does each company make almost identical claims?

Different companies are able to cherry pick for the type of customer that makes them money. A good example of a desirable insured could be between the ages of 30 and 50, has no tickets, and has a short commute. A driver who matches those parameters will qualify for the lowest rates and therefore will pay quite a bit less when switching companies.

Consumers who fall outside these standards will be charged a more expensive rate which usually ends up with business going elsewhere. Company advertisements say “customers that switch” but not “drivers who get quotes” save money. That is how insurance companies can confidently make the claims of big savings.

That is why drivers must quote coverage with many companies. Because you never know which company will give you the biggest savings on BMW 8 Series insurance.

Complexity of BMW 8 Series insurance rates

Consumers need to have an understanding of some of the elements that help determine your car insurance rates. Knowing what determines base rates allows you to make educated decisions that can help you get better car insurance rates.

  • Mature drivers pay less – Older insureds tend to be more responsible, tend to cause fewer accidents and receive fewer citations. Teen drivers tend to get distracted easily when behind the wheel and because of this, their car insurance rates are much higher.
  • A clean driving record saves money – Drivers who don’t get tickets have lower premiums than bad drivers. Only having one speeding ticket can bump up the cost twenty percent or more. Drivers who have serious citations such as DUI or reckless driving may need to file a SR-22 to the state department of motor vehicles in order to continue driving.
  • Being married can save on car insurance – Being married actually saves money on car insurance. Marriage means you’re more responsible and it’s statistically proven that married drivers get in fewer accidents.
  • Protect yourself with liability coverage – Liability coverage provides coverage if you are found liable for personal injury or accident damage. It provides for a legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should carry high limits.
  • Do you need those extra coverages? – There are many extra bells and whistles that can waste your money if you aren’t careful. Things like roadside assistance, accident forgiveness and motor club memberships may be costing you every month. These coverages may sound good when talking to your agent, but if you don’t need them remove them from your policy.
  • Rate your vehicle for proper use – The higher the mileage driven in a year’s time the higher your rate. The majority of insurers charge to insure your cars determined by how the vehicle is used. Cars that are left in the garage get more affordable rates as compared to vehicles used primarily for driving to work. Verify your car insurance declarations sheet shows the correct usage for each vehicle. If your policy improperly rates your 8 Series can cost quite a bit.
  • Rural vs Urban Areas – Residing in a rural area is a positive aspect when buying car insurance. Drivers in populated areas have more traffic problems and a longer drive to work. Lower population translates into fewer accidents as well as less vandalism and auto theft.
  • One company can mean more discounts – The majority of insurers provide better rates to people who consolidate policies with them, otherwise known as a multi-policy discount. Even though this discount sounds good, you may still want to comparison shop to confirm you are receiving the best rates possible.

Do you qualify for discounts?

Car insurance can cost a lot, but there are discounts available that you may not even be aware of. A few discounts will automatically apply when you quote, but a few must be inquired about in order for you to get them.

  • 55 and Retired – Older drivers can possibly qualify for reduced rates for 8 Series coverage.
  • Accident Waiver – Certain companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims for a set time period.
  • Homeowners Discount – Owning a home may earn you a small savings because maintaining a house is proof that your finances are in order.
  • Paperwork-free – A handful of insurance companies may give you up to $50 for buying a policy and signing up digitally online.
  • Auto/Home Discount – If you insure your home and vehicles with one insurance company you may save up to 20% off your total premium.
  • Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can avoid accidents and earn discounts up to 10%.

Drivers should understand that most credits do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like comp or med pay. Just because you may think all the discounts add up to a free policy, you’re out of luck. But any discount will bring down the amount you have to pay.

Car insurance companies that possibly offer some of the above discounts are:

Check with every prospective company what discounts are available to you. Some discounts might not be offered everywhere.

Don’t assume everyone needs the same coverage

When it comes to buying adequate coverage, there isn’t really a single plan that fits everyone. Your needs are not the same as everyone else’s.

For instance, these questions may help highlight whether you would benefit from an agent’s advice.

  • How high should my medical payments coverage be?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Do I have coverage if my license is suspended?
  • Do I need added coverage for expensive stereo equipment?
  • Should I get collision insurance on every vehicle?
  • Can I rate high risk drivers on liability-only vehicles?
  • How high should deductibles be on a 1991 BMW 8 Series?
  • What is high-risk coverage and where do I buy it?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form.

Auto insurance 101

Learning about specific coverages of your policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Liability coverages – Liability insurance will cover damages or injuries you inflict on other people or property. It protects you from legal claims by others, and 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 limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, 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 insurance covers things such as pain and suffering, legal defense fees and medical expenses. The amount of liability coverage you purchase is a personal decision, but buy as high a limit as you can afford.

Uninsured or underinsured coverage – This gives you protection when the “other guys” either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 8 Series.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently these coverages do not exceed the liability coverage limits.

Comprehensive protection – Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like fire damage, a tree branch falling on your vehicle, damage from a tornado or hurricane, falling objects and hitting a deer. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Collision coverages – This coverage pays for damage to your 8 Series resulting from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as sustaining damage from a pot hole, damaging your car on a curb, driving through your garage door and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.

Medical expense coverage – Medical payments and Personal Injury Protection insurance provide coverage for bills for things like hospital visits, EMT expenses and nursing services. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

Final considerations

As you shop your coverage around, never buy less coverage just to save a little money. In many instances, an insured dropped comprehensive coverage or liability limits only to find out that their decision to reduce coverage ended up costing them more. Your aim should be to buy enough coverage at a price you can afford.

Cheap 1991 BMW 8 Series insurance is definitely available on the web in addition to many insurance agents, so compare prices from both to have the best selection. Some insurance providers do not provide online quoting and these smaller companies work with independent agents.

We just presented a lot of information how to reduce insurance prices online. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding lower rates. Drivers may discover the best price on insurance coverage is with a company that doesn’t do a lot of advertising.

For more information, feel free to browse the resources below: