2004 BMW 3 Series Insurance Quotes – 10 Ways to Save

Want the cheapest insurance rates for your BMW 3 Series? Are you tired of robbing Peter to pay Paul to insure your BMW every month? You are no different than many other drivers.

There is such a variety of auto insurance companies to buy insurance from, and even though it’s nice to have a choice, it can be more challenging to find the lowest rates.

You should make it a habit to shop coverage around every six months because prices change quite often. Just because you had the lowest price for 3 Series insurance a few years ago there is a good chance you can find better rates now. Forget all the misinformation about insurance because I’m going to let you in on the secrets to the best way to save money, get proper deductibles and limits, all at the lowest rate.

Compare Insurance Today

When shopping for insurance there are multiple ways of comparing rates from insurance companies in your area. The easiest way by far to compare 2004 BMW 3 Series insurance prices is to get quotes online. This is very easy and can be done using a couple different methods.

Probably the best way to get quotes for comparison would be an industry-wide quote request form (click to open form in new window). This form eliminates the need for boring form submissions for each company you want a rate for. In just a few minutes this one form gets you price quotes from all major companies.

A more difficult way to compare rate quotes requires you to visit the website of each company and complete a new quote form. For instance, let’s assume you want to compare USAA, Progressive and GEICO. To find out each rate you need to spend time on each company’s site to input your insurance information, which is why the first method is more popular.

For a handy list of car insurance company links in your area, click here.

The most time-consuming way to get comparison rates is to drive around to insurance agents’ offices. Shopping for insurance online can eliminate the need for a local agent unless you have a need for the professional guidance of a local agent. However, consumers can comparison shop online and still use a local agent.

It’s up to you how you get prices quotes, just compare the exact same information on every quote. If each company quotes different limits and deductibles on each one it will be very difficult to find the best deal for your BMW 3 Series. Slightly different insurance coverages may cause a big price difference. Just keep in mind that more quotes will increase your chances of finding better pricing.

Don’t be fooled by advertising claims

GEICO, State Farm and Progressive consistently run ads in print and on television. All the companies have a common claim that you can save if you change your policy. How do they all claim to save you money?

Different companies have a preferred profile for the driver they prefer to insure. An example of a preferred risk could be between 25 and 40, has no prior claims, and chooses high deductibles. A driver who meets those qualifications will qualify for the lowest rates and is almost guaranteed to save quite a bit of money when switching.

Potential insureds who are not a match for these standards will have to pay more money and this can result in the customer not buying. Company advertisements say “customers that switch” not “people who quote” save money. That’s why insurance companies can confidently state the savings. Because of the profiling, it is so important to get as many quotes as possible. You cannot predict which company will give you the biggest savings on BMW 3 Series insurance.

Discounts are great for lower rates

Car insurance companies don’t list all available discounts in an easy-to-find place, so we took the time to find some of the best known and the harder-to-find discounts you could be receiving.

  • Homeowners Discount – Simply owning a home may earn you a small savings because owning a home is proof that your finances are in order.
  • Senior Citizens – Mature drivers may be able to get better auto insurance rates for 3 Series insurance.
  • E-sign – Certain companies give back up to $50 for buying a policy and signing up online.
  • Multiple Cars – Having all your vehicles with the same company could earn a price break for each car.
  • Theft Prevention System – Cars that have factory anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • Good Student – A discount for being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you up until you turn 25.
  • Auto/Home Discount – When you have multiple policies with the same company you may save at least 10% off all policies.
  • Government Employees – Active or retired federal employment can save as much as 8% for 3 Series insurance with certain companies.
  • No Charge for an Accident – Certain companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.
  • Life Insurance Discount – Select insurance companies reward you with lower rates if you buy auto and life insurance together.

Consumers should know that most credits do not apply to the entire policy premium. Some only reduce individual premiums such as liability and collision coverage. Just because it seems like you could get a free auto insurance policy, you won’t be that lucky.

A partial list of companies that possibly offer these money-saving discounts include:

It’s a good idea to ask all companies you are considering what discounts are available to you. All car insurance discounts might not apply everywhere.

You may need specialized coverage

When it comes to buying the right insurance coverage for your vehicles, there is no best way to insure your cars. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether your personal situation may require specific advice.

  • Am I covered if I hit a deer?
  • Why is insurance for a teen driver so high?
  • Should I buy more coverage than the required minimum liability coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • Is my 2004 BMW 3 Series covered for flood damage?
  • Do I need to file an SR-22 for a DUI in my state?
  • What if I owe more than I can insure my car for?
  • Is a fancy paint job covered?
  • Are rock chip repairs covered?

If you’re not sure about those questions then you might want to talk to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.

Car insurance coverage breakdown

Knowing the specifics of car insurance can help you determine the right coverages for your vehicles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverages available from car insurance companies.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your BMW 3 Series.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Auto liability insurance – This coverage will cover damage or injury you incur to people or other property. It protects you from claims by other people, and does not provide coverage for 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 commonly see values of 50/100/50 that means you have a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims like attorney fees, repair bills for other people’s vehicles, medical expenses, repair costs for stationary objects and loss of income. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

Collision coverage – This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for things such as colliding with another moving vehicle, rolling your car, scraping a guard rail, crashing into a ditch and backing into a parked car. This coverage can be expensive, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.

Medical payments and PIP coverage – Med pay and PIP coverage pay for bills such as hospital visits, X-ray expenses and pain medications. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Comprehensive auto coverage – This pays to fix your vehicle from 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 coverage protects against things like theft, falling objects, hail damage, hitting a bird and a tree branch falling on your vehicle. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Have the Midas touch

We’ve covered quite a bit of information on how to shop for 2004 BMW 3 Series insurance online. The key thing to remember is the more companies you get rates for, the better your comparison will be. Drivers may discover the best price on auto insurance is with an unexpected company. These smaller insurers may often insure only within specific states and give getter rates than their larger competitors like State Farm and Allstate.

When you buy insurance online, it’s very important that you do not buy poor coverage just to save money. There have been many cases where someone sacrificed full coverage only to discover later that they should have had better coverage. The ultimate goal is to find the BEST coverage for the lowest price.

Additional detailed information can be found in the articles below: