How Much Does 2008 BMW 3 Series Insurance Cost?

Looking for cheaper insurance coverage rates for your BMW 3 Series? If shopping for insurance coverage online is new to you, it’s easy to get confused by the vast number of companies competing for business.

You need to price shop coverage once or twice a year since rates change quite often. Even if you think you had the best rates for 3 Series coverage a couple years back you will most likely find a better rate today. Forget anything you know (or think you know) about insurance coverage because you’re about to find out how to use online quotes to find the best coverage while lowering your premiums.

Don’t miss out on these money-saving discounts

Car insurance can cost a lot, but you can get discounts to reduce the price significantly. Certain discounts will be triggered automatically when you quote, but lesser-known reductions have to be asked for before being credited.

  • More Vehicles More Savings – Buying insurance for multiple cars or trucks on one policy could earn a price break for each car.
  • Employee of Federal Government – Being employed by or retired from a federal job can earn a discount up to 10% for 3 Series coverage with a few insurance coverage companies.
  • No Claims – Drivers who don’t have accidents can earn big discounts when compared to accident-prone drivers.
  • Paperwork-free – Some insurance companies may give you up to $50 for buying your policy over the internet.
  • One Accident Forgiven – A few companies permit an accident without raising rates as long as you don’t have any claims for a set time period.
  • Driver’s Ed – Require your teen driver to enroll in driver’s education in high school.
  • College Student – Any of your kids living away from home attending college and don’t have a car 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 the price of certain insurance coverages like liability and collision coverage. So even though it sounds like you could get a free insurance coverage policy, it just doesn’t work that way. Any amount of discount will bring down your overall premium however.

To see a list of companies offering insurance coverage discounts, follow this link.

Factors that might impact rates for a BMW 3 Series

Smart consumers have a good feel for some of the elements that go into determining the price you pay for auto insurance. When you know what positively or negatively influences your rates enables informed choices that may reward you with lower auto insurance prices.

  • Tickets mean higher rates – Your driving citation history has a big impact on rates. Just one citation can increase rates by as much as thirty percent. Good drivers tend to pay less for car insurance than people who have multiple driving citations. Drivers who have severe citations like DWI, reckless driving or hit and run convictions may need to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to drive a vehicle legally.
  • Your spouse saves you money – Getting married can get you a discount on auto insurance. Marriage usually means you are more mature and it’s statistically proven that married drivers get in fewer accidents.
  • Adjust deductibles and save – The deductibles represent how much money you are required to spend in the event of a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims are colliding with a building, damage caused by hail, and windstorm damage. The more you’re willing to pay, the less your auto insurance will be for 3 Series coverage.
  • Your job and insurance rates – Careers like doctors, executives and dentists tend to pay the highest average rates because of stressful work requirements and lots of time spent at work. Other jobs such as scientists, historians and the unemployed have the lowest average rates for 3 Series coverage.
  • Are you male or female? – Statistics have proven that women are safer drivers than men. Now that doesn’t mean women are better drivers. They both have accidents in similar numbers, but men tend to have more serious accidents. Men also receive more costly citations such as DWI and reckless driving.

Do I need special coverages?

When it comes to choosing proper insurance coverage, there really is not a cookie cutter policy. Everyone’s needs are different.

Here are some questions about coverages that can aid in determining whether you might need professional guidance.

  • Do I have coverage if my license is suspended?
  • Why am I required to get a high-risk car insurance policy?
  • Do I pay less for low miles?
  • Is my BMW 3 Series covered if I use it for business?
  • How can I force my company to pay a claim?
  • What are the financial responsibility laws in my state?
  • How can I get my company to pay me more for my totalled car?
  • Is my teenager covered with friends in the car?
  • Am I covered when pulling a rental trailer?
  • Does my 2008 BMW 3 Series qualify for pleasure use?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, complete this form.

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

Auto insurance providers like State Farm, Allstate and Geico regularly use ads on television and other media. They all make an identical promise that you can save if you move to their company. How does each company say the same thing? This is how they do it.

All companies can use profiling for the right customer that earns them a profit. For example, a desirable insured might be profiled as between 30 and 50, a clean driving record, and drives less than 10,000 miles a year. Any new insured who fits that profile will get the preferred rates and is almost guaranteed to pay quite a bit less when switching companies.

Potential customers who are not a match for this ideal profile will have to pay a higher premium which usually ends up with the driver buying from a lower-cost company. The ads say “customers that switch” but not “drivers who get quotes” save that much. This is how insurance companies can make those claims.

Because of the profiling, you absolutely need to compare as many rates as you can. It’s not possible to predict which insurance companies will give you the biggest savings on BMW 3 Series insurance.

Car insurance coverages for a 2008 BMW 3 Series

Understanding the coverages of insurance can help you determine the best coverages for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Uninsured Motorist or Underinsured Motorist insurance – This coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2008 BMW 3 Series.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally the UM/UIM limits do not exceed the liability coverage limits.

Collision coverages – Collision coverage will pay to fix damage to your 3 Series caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as driving through your garage door, crashing into a building, colliding with another moving vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Comprehensive coverage (or Other than Collision) – This pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like damage from getting keyed, hitting a bird and damage from a tornado or hurricane. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Insurance for medical payments – Med pay and PIP coverage provide coverage for short-term medical expenses like dental work, rehabilitation expenses and surgery. The coverages can be utilized in addition to your health insurance plan or if you do not have health coverage. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage

Coverage for liability – This coverage will cover damages or injuries you inflict on other’s property or people. It protects you against claims from other people. It does not cover 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. Your policy might show values of 50/100/50 which stand for $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against things such as loss of income, attorney fees and bail bonds. The amount of liability coverage you purchase is a personal decision, but you should buy as much as you can afford.

You can do this!

As you restructure your insurance plan, it’s not a good idea to buy less coverage just to save a little money. In too many instances, someone dropped uninsured motorist or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. Your aim should be to get the best coverage possible at a price you can afford.

In this article, we presented many ideas to save on 2008 BMW 3 Series insurance. The most important thing to understand is the more providers you compare, the better likelihood of reducing your rate. Consumers could even find that the lowest rates come from a lesser-known regional company.

Cheap insurance can be found from both online companies and also from your neighborhood agents, so compare prices from both to get a complete price analysis. There are still a few companies who may not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

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