Did you fall for a flashy sales pitch and buy an underperforming, overpriced car insurance policy? Believe me when I say you’re not the only one.
Many insurance companies vie for your hard-earned dollar, so it’s not easy to compare every company and uncover the absolute lowest rate
If you currently have car insurance, you will be able to cut costs considerably using these techniques. Buying car insurance is quite easy. But vehicle owners need to learn the way companies sell insurance online and take advantage of how the system works.
To find the best insurance prices, there are several ways to compare rate quotes from local insurance companies. The quickest method to find the cheapest 1997 BMW 8 Series insurance rates is to get quotes online. This can be accomplished in a couple of different ways.
The most efficient way to get quotes is to use a rate comparison form (click to open form in new window). This form saves time by eliminating multiple quote forms to each individual insurance company. In just a few minutes this one form will return price quotes from insurance companies with the best prices.
A less efficient way to get quotes online requires you to visit the website for every company you want to comare and fill out their own quote form. For instance, we’ll assume you want comparison quotes from Auto-Owners, Liberty Mutual and Geico. To get rate quotes you would need to visit each site to enter your coverage information, which is why the first method is more popular. For a list of links to companies insuring cars in your area, click here.
However you get your quotes, ensure you are comparing the exact same coverage limits with each company. If you use different limits and deductibles on each one it’s not possible to make a fair comparison for your BMW 8 Series. Slightly different insurance coverages could mean much higher rates. Keep in mind that having more price comparisons will increase your chances of finding the best price.
When it comes to choosing proper insurance coverage, there really is no cookie cutter policy. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that could help you determine whether or not you will benefit from professional help.
If you’re not sure about those questions but one or more may apply to you, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form or click here for a list of car insurance companies in your area.
Knowing the specifics of your insurance policy can be of help when determining which coverages you need and proper limits and deductibles. Insurance terms can be ambiguous and reading a policy is terribly boring. Below you’ll find typical coverages available from insurance companies.
Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses such as dental work, doctor visits, ambulance fees and chiropractic care. The coverages can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. It covers all vehicle occupants as well as being hit by a car walking across the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Uninsured and underinsured coverage – This protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your BMW 8 Series.
Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Comprehensive coverages – This will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like theft, damage from getting keyed, hitting a bird, a broken windshield and falling objects. The highest amount a insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Liability coverage – This coverage protects you from damage that occurs to other’s property or people in an accident. It protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 50/100/50 which means a limit of $50,000 per injured person, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against things like loss of income, legal defense fees and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but buy as large an amount as possible.
Collision coverages – This coverage will pay to fix damage to your 8 Series resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision insurance covers things such as sustaining damage from a pot hole, hitting a mailbox, damaging your car on a curb, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also bump up the deductible to bring the cost down.