Cheaper 2006 BMW 3 Series Car Insurance Cost

Finding lower premiums on auto insurance is hard for people who are new to buying insurance online. You have so many companies to choose from that it can be a real hassle to compare prices.

Smart consumers take time to take a look at other company’s rates occasionally due to the fact that insurance rates are rarely the same from one policy term to another. Just because you had the best rates on 3 Series insurance last year other companies may now be cheaper. You can find a lot of wrong information about auto insurance on the internet, so by reading this article, you’re going to learn some great ways to find affordable auto insurance.

Comparison of Auto Insurance

Effectively comparing auto insurance prices can take hours if you don’t understand the most efficient way. You could waste time talking about coverages with insurance agencies in your area, or you could use the internet to get prices fast.

Many popular insurance companies participate in an industry program where prospective buyers complete one form, and at least one company can give them a price. This eliminates the need for quote requests for each company you want a rate for. To compare pricing click here (opens in new window).

The one disadvantage to doing it this way is you cannot specify the providers to get quotes from. If you would rather choose specific providers for rate comparison, we have assembled a list of companies who write auto insurance in your area. Click here for list of insurance companies.

Whichever method you choose, ensure you’re using apples-to-apples coverage information with every price quote. If the quotes have different deductibles then you won’t be able to find the best deal for your BMW 3 Series. Having just a slight variation in limits can mean a large discrepancy in price. And when comparing auto insurance rates, know that having more price comparisons will enable you to find the best rates.

Save 15 percent in 15 minutes? Is it for real?

Companies like Allstate and Progressive constantly bombard you with ads on TV and radio. All the ads make an identical promise that you can save if you switch to their company. But how can every company make the same claim? This is how they do it.

All the different companies have a certain “appetite” for the type of customer that is profitable for them. A good example of a driver they prefer might be profiled as between the ages of 40 and 55, a clean driving record, and has excellent credit. Any driver who matches those parameters will qualify for the lowest rates and is almost guaranteed to save a lot of money.

Consumers who don’t measure up to the requirements will be quoted higher rates and ends up with business not being written. Company advertisements say “people who switch” not “people who quote” save that much money. That is how companies can truthfully make those claims.

This emphasizes why it is so important to compare many company’s rates. It’s not possible to predict which insurance coverage company will fit your personal profile best.

BMW 3 Series rates are in the details

It’s important that you understand the different types of things that help determine auto insurance rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

  • Protect yourself with liability coverage – Liability insurance is the coverage that protects you when a court rules you are at fault for damages from an accident. Liability insurance provides legal defense which can be incredibly expensive. Liability insurance is quite affordable compared to physical damage coverage, so do not skimp.
  • Where do you drive? – The higher the mileage driven each year the higher your rates will be. Almost all companies charge to insure your cars based on their usage. Vehicles left parked in the garage can get a lower rate compared to those used for work or business. An improperly rated 3 Series may be wasting your money. Make sure your auto insurance declarations sheet shows the correct usage for each vehicle, because it can save money.
  • Car features impact rates – Driving a car with an alarm system can get you a discount on your auto insurance. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • Safe vehicles cost less to insure – Vehicles with high crash test scores get lower rates. Safer cars reduce injuries and better occupant protection means less money paid by your insurance company and more competitive rates for policyholders. If your BMW is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
  • Claim-free discounts can add up – Auto insurance companies give discounts to insureds who file claims infrequently. If you file claims often, you can expect higher rates. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.
  • How your age affects price – Teen drivers tend to get distracted easily in a vehicle so auto insurance rates are higher. Mature drivers are more responsible, statistically cause fewer accidents and get fewer tickets.
  • Women pay lower rates – Statistics have proven women are more cautious behind the wheel. That doesn’t necessarily mean that women are better drivers. Women and men have accidents in similar numbers, but the male of the species cause more damage. Men also tend to receive more costly citations such as DWI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and thus pay the highest rates.

Do you qualify for a discount?

Insuring your fleet can be pricey, but you may find discounts that can drop the cost substantially. Certain discounts will be applied when you purchase, but a few must be specially asked for prior to getting the savings.

  • Sign Early and Save – Some insurance companies reward drivers for buying a policy before your current expiration date. It can save you around 10%.
  • Military Discounts – Being on active duty in the military could mean lower rates.
  • Low Mileage – Driving fewer miles could be rewarded with lower rates on the low mileage vehicles.
  • Safety Course Discount – Completing a course teaching defensive driving skills could cut 5% off your bill if your company offers it.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less on 3 Series insurance than drivers with accident claims.
  • New Vehicle Savings – Putting insurance coverage on a new car is cheaper compared to insuring an older model.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of 20% or more.
  • No Accidents – Drivers who don’t have accidents pay much less when compared to bad drivers.

A little note about advertised discounts, some credits don’t apply the the whole policy. A few only apply to the cost of specific coverages such as liability and collision coverage. So even though they make it sound like adding up those discounts means a free policy, it just doesn’t work that way. But all discounts will help reduce your premiums.

To see a list of insurers who offer insurance coverage discounts, click this link.

What coverages do I need?

When buying the right insurance coverage for your personal vehicles, there is no best way to insure your cars. Every insured’s situation is different.

For example, these questions may help you determine whether you could use an agent’s help.

  • Does insurance cover tools stolen from my truck?
  • What exactly is covered by my policy?
  • At what point should I drop full coverage?
  • What is the rate difference between pleasure use and commuting?
  • If I drive on a suspended license am I covered?
  • Is business equipment covered while in my vehicle?
  • Am I covered when pulling a rental trailer?
  • Do I need motorclub coverage?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, fill out this quick form.

Auto insurance 101

Having a good grasp of your insurance policy can help you determine the right coverages for your vehicles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording.

Comprehensive insurance

This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a deer, damage from getting keyed and falling objects. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like prosthetic devices, doctor visits, EMT expenses and dental work. They can be utilized in addition to your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your BMW 3 Series.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Liability coverage

This provides protection from damages or injuries you inflict on people or other property in an accident. This insurance protects YOU against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability insurance covers things such as medical services, repair bills for other people’s vehicles, repair costs for stationary objects and court costs. How much coverage you buy is up to you, but it’s cheap coverage so purchase higher limits if possible.

Collision insurance

This covers damage to your 3 Series resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things such as scraping a guard rail, crashing into a building and damaging your car on a curb. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Quote more, save more

Insureds who switch companies do it for any number of reasons including lack of trust in their agent, not issuing a premium refund, questionable increases in premium and even being labeled a high risk driver. No matter why you want to switch, finding a great new company is actually quite simple.

We just presented some good ideas how to shop for 2006 BMW 3 Series insurance online. The key thing to remember is the more price quotes you have, the better likelihood of reducing your rate. Consumers could even find that the lowest rates come from an unexpected company.

As you restructure your insurance plan, make sure you don’t buy less coverage just to save a little money. In many instances, an insured dropped uninsured motorist or liability limits to discover at claim time that they should have had better coverage. The aim is to get the best coverage possible at the best price while not skimping on critical coverages.

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