Cheap 1996 BMW 3 Series Insurance Rates

Did you fall for a flashy sales pitch and buy an overpriced insurance coverage policy? Believe me when I say there are many people just like you.

Multiple car insurance companies compete for your hard-earned dollar, so it can be very hard to choose a insurer to discover the definitive lowest price

The most recommended method to get policy rate comparisons is to know most larger insurance companies allow for online access to give you rate quotes. The only thing you need to do is provide details like whether or not you need a SR-22, the year, make and model of vehicles, whether you drive to work or school, and if it has an alarm system. Your insurance information is automatically sent to multiple top-rated companies and they return rate quotes very quickly.

You probably qualify for some discounts

Auto insurance companies don’t always list every available discount very well, so the following is a list of some of the best known and the more hidden ways to save on insurance.

  • Multiple Vehicles – Buying coverage for multiple vehicles on the same insurance policy can get a discount on all vehicles.
  • Clubs and Organizations – Belonging to a civic or occupational organization could qualify you for a break on your policy for 3 Series coverage.
  • No Accidents – Drivers who don’t have accidents can earn big discounts when compared to drivers who are more careless.
  • New Vehicle Savings – Insuring a new car can cost up to 25% less compared to insuring an older model.
  • College Student – Children living away from home attending college without a vehicle on campus may be able to be covered for less.

Keep in mind that most of the big mark downs will not be given the the whole policy. Most cut specific coverage prices like medical payments or collision. So even though they make it sound like having all the discounts means you get insurance for free, companies wouldn’t make money that way.

To see a list of insurers offering insurance discounts, click here.

There’s no such thing as the perfect policy

When it comes to buying proper insurance coverage for your vehicles, there is no “perfect” insurance plan. Everyone’s situation is unique so your insurance should reflect that These are some specific questions may help you determine whether your personal situation would benefit from an agent’s advice.

  • Why does it cost so much to insure a teen driver?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Are rock chip repairs covered?
  • Does insurance cover damages from a DUI accident?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Is business equipment covered while in my vehicle?
  • Is my camper covered by my car insurance policy?
  • How can I get high-risk coverage after a DUI?
  • Which is better, split liability limits or combined limits?
  • Does having multiple vehicles earn me a discount?

If you’re not sure about those questions, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area.

BMW 3 Series rates influenced by many factors

It’s important that you understand the factors that come into play when calculating the price you pay for insurance coverage. Understanding what influences your rates allows you to make educated decisions that can help you get better insurance coverage rates.

The list below includes a partial list of the pieces companies use to determine your rates.

  • Lower rates with optional equipment – Driving a car with anti-theft technology or alarm system can get you a discount on your insurance coverage. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder your car from being stolen.
  • Drive a safer car and pay less – Safer cars are cheaper to insure. The safest vehicles have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims and more competitive rates for policyholders. If the BMW 3 Series earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
  • Liability coverage is peace of mind – The liability section of your policy provides coverage if you are found to be at fault for damages caused by your negligence. It provides for a legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
  • Your age impacts your rates – Older insureds are viewed as being more responsible, tend to cause fewer accidents and tend to be better behind the wheel. Teenage drivers tend to be careless and easily distracted when behind the wheel and because of this, their insurance coverage rates are much higher.
  • A clean driving record saves money – Just one moving violation can bump up the cost twenty percent or more. Drivers who don’t get tickets receive lower rates than people who have multiple driving citations. Drivers who have severe citations like DUI or reckless driving may need to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.
  • Better credit means lower rates – Credit score is a huge factor in determining your rates. Drivers with excellent credit tend to file fewer claims and have better driving records than those with lower credit ratings. Therefore, if your credit rating is low, you could pay less to insure your 1996 BMW 3 Series by improving your rating.
  • Never go without insurance – Having an insurance coverage lapse is a quick way to trigger a rate increase. And not only will your rates increase, failure to provide proof of insurance can result in a hefty fine and possibly a revoked license.You may then be required to file a SR-22 with your state motor vehicle department to get your license reinstated.
  • More claims means more premium – Insurance companies give better rates to insureds who do not rely on their insurance for small claims. If you frequently file small claims, you can expect either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for larger claims.

Drivers who switch save $454 a year? Really?

Car insurance providers like State Farm and Allstate constantly bombard you with television and radio advertisements. They all make an identical promise that you’ll save big if you switch to their company. How does each company claim to save you money?

Different companies have a preferred profile for the right customer that is profitable for them. A good example of a preferred risk might be profiled as between the ages of 40 and 55, insures multiple vehicles, and drives less than 7,500 miles a year. A customer getting a price quote who meets those qualifications will qualify for the lowest rates and as a result will probably save when switching.

Drivers who do not match the “perfect” profile will be charged more money and this can result in the driver buying from a lower-cost company. The ad wording is “customers that switch” not “everybody who quotes” save money. That’s the way insurance companies can make the claims of big savings. That is why drivers should get quotes from several different companies. It’s just too difficult to predict which company will give you the biggest savings on BMW 3 Series insurance.

Auto insurance coverage information

Having a good grasp of a insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find typical coverage types found on the average insurance policy.

Collision coverage – This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as hitting a parking meter, backing into a parked car, crashing into a ditch and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Comprehensive coverage – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like damage from getting keyed, hitting a deer, a tree branch falling on your vehicle and theft. The highest amount a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your 1996 BMW 3 Series.

Since a lot of 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 should not be overlooked.

Medical payments coverage and PIP – Med pay and PIP coverage provide coverage for expenses for things like prosthetic devices, surgery, funeral costs, X-ray expenses and ambulance fees. They are often used to fill the gap from your health insurance plan or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Liability auto insurance – Liability insurance can cover damage or injury you incur to people or other property that is your fault. It protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability can pay for claims like pain and suffering, legal defense fees, repair costs for stationary objects and medical services. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.

Shop Smart and Save

Cost effective 1996 BMW 3 Series insurance is possible both online and also from your neighborhood agents, so you should compare both to have the best selection. Some insurance coverage companies may not provide online price quotes and most of the time these regional insurance providers sell through independent agents.

As you go through the steps to switch your coverage, make sure you don’t reduce needed coverages to save money. There are too many instances where an accident victim reduced full coverage and found out when filing a claim they didn’t have enough coverage. The aim is to get the best coverage possible at an affordable rate.

In this article, we covered a lot of ways to get a better price on insurance. The key concept to understand is the more quotes you get, the better your comparison will be. You may even discover the lowest priced insurance coverage comes from a lesser-known regional company. These companies may have significantly lower rates on certain market segments compared to the large companies like State Farm and Allstate.

More detailed insurance coverage information can be read by following these links: