Cheap 1998 BMW 7 Series Insurance Quotes

Looking for better auto insurance rates for your BMW 7 Series? Having to pay for overpriced BMW 7 Series insurance can empty your checking account and force you to make sacrifices. Shopping your coverage around is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket.

Many auto insurance companies vie for your insurance dollar, and it can be difficult to compare rates and uncover the absolute lowest rate possible.

It’s important to get comparison quotes quite often due to the fact that insurance rates are rarely the same from one policy term to another. Even if you got the best deal on 7 Series coverage last year a different company probably has better rates today. There is too much inaccurate information about auto insurance online, so by reading this article, you’re going to learn some great ways to find cheap auto insurance.

Comprehensive Insurance Coverage Comparison

To find the best insurance coverage prices, there are several ways of comparing rate quotes from different insurance companies. The simplest method to compare 1998 BMW 7 Series insurance prices is to perform an online rate comparison. It is quite easy and can be accomplished using a couple different methods.

  1. Probably the best way consumers can make multiple comparisons would be an industry-wide quote request form click to view form in new window. This method saves time by eliminating separate quotes for each company. Just one form will return quotes instantly.
  2. A slightly less efficient method to get comparison quotes requires visiting each individual company website and complete a new quote form. For sake of this example, let’s say you want to compare rates from Allstate, Geico and Farmers. You would have to go to every website and enter your information, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.

It’s up to you which method you use, but compare the exact same coverages for each comparison quote. If you have differing limits it’s not possible to determine the lowest rate for your BMW 7 Series. Just a small difference in limits can mean a large discrepancy in price. And when comparison shopping, quoting more will enable you to find better pricing.

Are you getting all your discounts?

Insuring your vehicles can cost a lot, but discounts can save money and there are some available that you may not even be aware of. Larger premium reductions will be automatically applied at the time of purchase, but a few must be asked for before they will apply.

  • Discounts for Safe Drivers – Drivers who avoid accidents can pay as much as 50% less on 7 Series coverage than less cautious drivers.
  • Senior Citizens – If you qualify as a senior citizen, you may receive a small decrease in premiums on 7 Series coverage.
  • Drivers Education – Require your teen driver to successfully complete driver’s ed class in school.
  • Government Employees – Employees or retirees of the government may qualify you for a discount on 7 Series coverage with a few auto insurance companies.
  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
  • Payment Discounts – If paying your policy premium upfront instead of paying each month you could save up to 5%.
  • Discount for Good Grades – This discount can save 20 to 25%. The discount lasts well after school through age 25.
  • Multiple Policy Discount – If you have multiple policies with the same company you could get a discount of up to 20% off your total premium.
  • One Accident Forgiven – A handful of insurance companies will allow you to have one accident before raising your premiums as long as you don’t have any claims prior to the accident.
  • Multiple Vehicles – Having multiple vehicles with the same company could earn a price break for each car.

A little note about advertised discounts, most discount credits are not given to all coverage premiums. Most only cut individual premiums such as liability, collision or medical payments. Just because it seems like you would end up receiving a 100% discount, it just doesn’t work that way. Any amount of discount will cut your overall premium however.

For a list of insurance companies offering auto insurance discounts, click here.

BMW 7 Series rates are complex

It’s important that you understand some of the elements that help determine the price you pay for car insurance. Understanding what influences your rates allows you to make educated decisions that will entitle you to big savings.

  • Better crash test results mean better rates – Vehicles with high crash test scores get lower rates. Safer cars protect occupants better and fewer injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your BMW earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • More miles equals more premium – The more miles you rack up on your BMW in a year the higher your rates will be. The majority of insurers apply a rate based on their usage. Cars and trucks left parked in the garage qualify for better rates compared to those used for work or business. Having the wrong rating on your 7 Series may be costing you. Make sure your car insurance policy properly reflects how each vehicle is driven.
  • Increase deductibles and save – Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your BMW. Some instances where coverage would apply would be running into the backend of another car, damage caused by hail, and burglary. Your deductibles are how much you are willing to pay out-of-pocket in the event of a claim. The more money you are required to pay out-of-pocket, the less your car insurance will be on 7 Series coverage.
  • Your spouse saves you money – Being married actually saves money on car insurance. Having a significant other means you’re more responsible it has been statistically shown that being married results in fewer claims.
  • Where you live – Being located in less populated areas has it’s advantages when talking about car insurance. Urban drivers have to deal with congested traffic and longer commutes to work. Fewer drivers means fewer accidents and a lower car theft rate.
  • Liability coverage protects you – Liability coverage is the coverage that protects you if you are found to be at fault for causing damage or personal injury in an accident. It provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should carry high limits.
  • Lower rates come with age – Teenage drivers tend to be careless and easily distracted when behind the wheel so car insurance rates are higher. Older insureds are more cautious drivers, file fewer claims and are safer drivers.
  • Equipment add-ons that lower car insurance rates – Purchasing a vehicle that has an advanced theft prevention system can help lower your rates. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your vehicle from being stolen.

Tailor your coverage to you

When choosing proper insurance coverage, there really is no perfect coverage plan. Everyone’s needs are different so your insurance should reflect that For instance, these questions may help you determine if your situation will benefit from professional help.

  • Are all vehicle passengers covered by medical payments coverage?
  • What is no-fault insurance?
  • What is high-risk coverage and where do I buy it?
  • Am I covered if I break a side mirror?
  • Where can I find high-risk insurance?
  • Does my policy cover me when driving someone else’s vehicle?
  • Do I have coverage when pulling a U-Haul trailer?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to an agent. If you don’t have a local agent, complete this form or click here for a list of car insurance companies in your area.

Specific coverages for a BMW 7 Series

Having a good grasp of a insurance policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. These are typical coverage types found on the average insurance policy.

Auto liability – Liability insurance protects you from damages or injuries you inflict on people or other property that is your fault. This coverage protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 which means a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability coverage pays for things such as loss of income, funeral expenses, court costs and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible.

Insurance for medical payments – Med pay and PIP coverage kick in for immediate expenses for dental work, nursing services, pain medications and funeral costs. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants and also covers if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Comprehensive coverage (or Other than Collision) – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like vandalism, hail damage, a tree branch falling on your vehicle and hitting a deer. The maximum payout your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your BMW 7 Series.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Collision coverage – Collision coverage will pay to fix damage to your 7 Series resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as driving through your garage door, scraping a guard rail, sideswiping another vehicle and rolling your car. This coverage can be expensive, so consider removing coverage from lower value vehicles. Another option is to bump up the deductible to save money on collision insurance.

Buy online or local, you save

As you restructure your insurance plan, it’s not a good idea to skimp on critical coverages to save a buck or two. There are too many instances where consumers will sacrifice physical damage coverage only to regret at claim time they didn’t have enough coverage. Your strategy should be to buy the best coverage you can find for the lowest price, not the least amount of coverage.

The cheapest 1998 BMW 7 Series insurance is possible from both online companies and with local insurance agents, and you need to price shop both to have the best rate selection. Some insurance companies do not offer the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.

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