How Much Does 2016 BMW X3 Insurance Cost?

Shopping for cheap insurance coverage on the internet can be difficult for beginners to price shopping online. Because there are so many insurers to choose from, how can drivers effectively compare them all to find the best available rates?

It’s smart to compare rates occasionally because insurance rates tend to go up over time. Just because you found the best rates on X3 coverage a couple years back you can probably find a lower rate today. So forget anything you know (or think you know) about insurance coverage because you’re going to get a crash course in the fastest and easiest way to save on insurance coverage.

Buying car insurance is easy if you know what you’re doing. If you have car insurance now, you will most likely be able to save some money using these techniques. But drivers do need to learn how companies market on the web.

Save with discounts on 2016 BMW X3 insurance

Auto insurance companies don’t necessarily list all available discounts very well, so we researched both well-publicized as well as the least known savings tricks you should be using.

  • Payment Method – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
  • Life Insurance Discount – Companies who offer life insurance give better rates if you take out life insurance from them.
  • Own a Home – Owning a home may earn you a small savings because owning a home demonstrates responsibility.
  • Air Bag Discount – Vehicles equipped with air bags or automatic seat belts can get savings of 20% or more.
  • Seat Belts Save – Buckling up and requiring all passengers to buckle their seat belts can save up to 15% on the medical payments or PIP coverage costs.
  • Claim Free – Claim-free drivers pay much less when compared to drivers who are more careless.
  • More Vehicles More Savings – Buying coverage for multiple cars or trucks on the same car insurance policy could earn a price break for each car.
  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and qualify for as much as a 10% discount.

A little note about advertised discounts, many deductions do not apply to the entire policy premium. Most only cut individual premiums such as liability and collision coverage. So despite the fact that it appears all those discounts means the company will pay you, it doesn’t quite work that way.

For a list of companies with the best car insurance discounts, click here to view.

How to Lower Your Insurance Coverage Cost

To find the best insurance coverage prices, there are several ways of comparing rate quotes and find the best price. The fastest way to compare 2016 BMW X3 insurance prices involves getting comparison quotes online. It is quite easy and can be accomplished in several different ways.

  1. The most efficient way to get quotes would be an industry-wide quote request form click here to open form in new window. This method saves time by eliminating separate forms for each company. One form submission gets you coverage quotes from multiple companies. It’s definitely the quickest method.
  2. A harder way to shop for insurance coverage online requires a trip to each company’s website and request a quote. For example, let’s assume you want to compare Progressive, Allstate and Farmers. To get each rate you have to spend time on each company’s site to input your insurance information, which is why the first method is quicker.

    For a list of links to companies insuring cars in your area, click here.

  3. The least recommended way to get comparison rates is to spend time driving to and from local insurance agencies. The ability to buy insurance online can eliminate the need for a local agent unless you want the personal advice of a local agent. Drivers can get the lowest quotes online but still have the advice of a local agent and you’ll learn how to do that later.

Which method you use is up to you, but make sure you use apples-to-apples quote information for every quote you compare. If you are comparing different liability limits you can’t possibly decipher which rate is best. Quoting even small variations in insurance coverages may result in large price differences. It’s important to know that comparing more company’s prices will increase your chances of finding a lower rate.

BMW X3 insurance rates consist of many parts

An important part of buying insurance is that you know the different types of things that play a part in calculating insurance coverage rates. When you know what positively or negatively controls the rates you pay helps enable you to make changes that could result in much lower annual insurance costs.

Shown below are a few of the “ingredients” that factor into premiums.

  • Liability coverage is cheap – Your policy’s liability coverage is the coverage that protects you if you are found to be at fault for damages from an accident. It provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so drivers should carry high limits.
  • Older drivers pay less – More mature drivers are more responsible, file fewer claims and tend to be better behind the wheel. Teenage drivers are known to be less responsible when driving therefore insurance coverage rates are much higher.
  • Do men or women drive better? – Statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that women are BETTER drivers than men. Women and men have accidents at a similar rate, but the male of the species cause more damage. Men also tend to get more serious tickets such as DWI and reckless driving. Teenage male drivers tend to get in the most accidents and therefore are the most expensive to insure.
  • Little extras can really add up – There are a ton of add-on coverages that can waste your money on your insurance coverage policy. Coverages for vanishing deductibles, accident forgiveness and term life insurance are examples of these. These coverages may sound good initially, but if they’re wasting money eliminate them to save money.
  • Equipment add-ons that lower insurance coverage rates – Choosing a vehicle with a theft deterrent system can save you a little every year. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart car theft.
  • Occupation reflects on rates – Did you know that where you work can have an impact on rates? Careers like lawyers, business owners and financial analysts tend to pay higher average rates due to stressful work requirements and lots of time spent at work. Conversely, occupations like actors, engineers and performers have the lowest average rates on X3 coverage.

Tailor your coverage to you

When it comes to buying proper insurance coverage for your vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

These are some specific questions may help you determine whether your personal situation may require specific advice.

  • Why am I required to buy high-risk coverage?
  • How many claims can I have before being cancelled?
  • Am I covered if I hit a deer?
  • Does medical payments coverage apply to all occupants?
  • Am I covered when driving on a suspended license?
  • Does car insurance cover theft of personal property?

If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Coverage specifics

Knowing the specifics of auto insurance can be of help when determining which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Auto collision coverage

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

Collision coverage protects against things such as sustaining damage from a pot hole, crashing into a ditch, sideswiping another vehicle and rolling your car. This coverage can be expensive, so consider dropping it from older vehicles. Drivers also have the option to choose a higher deductible to bring the cost down.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage pay for bills such as rehabilitation expenses, doctor visits and ambulance fees. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible

Liability car insurance

Liability coverage can cover injuries or damage you cause to other’s property or people that is your fault. This coverage protects you against other people’s claims. 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. Your policy might show policy limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims such as emergency aid, bail bonds, repair costs for stationary objects, medical services and attorney fees. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.

Coverage for uninsured or underinsured drivers

This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your 2016 BMW X3.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Comprehensive auto insurance

This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as fire damage, falling objects and hitting a deer. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Make an honest buck

In this article, we covered a lot of ways to save on 2016 BMW X3 insurance. It’s most important to understand that the more companies you get rates for, the more likely it is that you will get a better rate. Consumers may even find the lowest premiums are with a company that doesn’t do a lot of advertising.

Cost effective insurance can be sourced on the web and with local insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies do not offer the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

As you restructure your insurance plan, it’s a bad idea to sacrifice coverage to reduce premiums. There are a lot of situations where an accident victim reduced full coverage only to find out they didn’t have enough coverage. Your goal should be to find the BEST coverage at an affordable rate, not the least amount of coverage.

To learn more, feel free to visit these articles: