Cheap 2001 BMW 3 Series Car Insurance Cost

Looking for the cheapest auto insurance rates for your BMW 3 Series? Are you tired of trying to scrape together enough money to pay your car insurance bill each month? You are no different than many other drivers.

Because you have many insurance companies to choose from, it can be challenging to locate the most cost effective car insurance company.

It’s important to compare prices quite often because rates are usually higher with each renewal. Even if you got the best price for 3 Series coverage last year you will most likely find a better rate today. Block out anything you think you know about auto insurance because we’re going to demonstrate how to use online quotes to properly buy coverages while reducing your premium.

Finding more affordable insurance coverage is simple if you know the tricks. Basically, every driver who shops for insurance most likely will be able to find lower rates. Although consumers do need to understand the methods companies use to market on the web and take advantage of how the system works.

Discounts mean cheaper BMW 3 Series insurance rates

Insurance can cost an arm and a leg, but discounts can save money and there are some available that many people don’t even know exist. A few discounts will automatically apply when you get a quote, but a few must be asked about before you will receive the discount.

  • Paperless Signup – Some insurance companies may give you up to $50 just for signing your application digitally online.
  • Federal Government Employee – Simply working for the federal government can earn a discount up to 10% for 3 Series coverage with certain companies.
  • Senior Discount – If you qualify as a senior citizen, you may receive reduced rates for 3 Series coverage.
  • More Vehicles More Savings – Buying insurance for multiple cars or trucks with the same company could earn a price break for each car.
  • Military Discounts – Being on active duty in the military can result in better rates.
  • Homeowners Savings – Simply owning a home can help you save on insurance because owning a home requires personal responsibility.

It’s important to note that most discount credits are not given to all coverage premiums. Some only reduce the cost of specific coverages such as liability and collision coverage. So even though they make it sound like having all the discounts means you get insurance for free, you won’t be that lucky. But any discount will help reduce your premiums.

Insurance companies that may offer these money-saving discounts are:

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

Lesser-known factors impacting BMW 3 Series insurance rates

It’s important that you understand the different types of things that help determine the rates you pay for insurance coverage. Understanding what controls the rates you pay empowers consumers to make smart changes that could result in much lower annual insurance costs.

  • Being married can save on insurance coverage – Being married can get you a discount when buying insurance coverage. It translates into being more responsible and it’s proven that drivers who are married are more cautious.
  • Where you live – Living in less populated areas can save you money when insuring your vehicles. Drivers who live in large cities tend to have traffic congestion and much longer commute distances. Less people living in that area means fewer accidents as well as less vandalism and auto theft.
  • Sex matters – Statistics show that women are safer drivers than men. However, don’t assume that men are WORSE drivers than women. They both have accidents in similar percentages, but the males cause more damage and cost insurance companies more money. They also receive more costly citations such as DWI and reckless driving.
  • Do you have a high stress job? – Did you know your job can affect your rates? Occupations like judges, architects and dentists are shown to have the highest average rates in part from job stress and lengthy work days. Other professions such as pilots, historians and performers pay the least for 3 Series coverage.
  • More miles equals more premium – The higher the mileage driven in a year’s time the higher your rate. Most insurance companies rate vehicles based on how the vehicle is used. Autos not used for work or commuting can get a lower rate compared to those used for work or business. Ask your agent if your insurance coverage declarations sheet shows the correct usage for each vehicle, because it can save money. If your policy improperly rates your 3 Series may be wasting your money.

Tailor your coverage to you

When choosing coverage, there really is not a best way to insure your cars. Everyone’s needs are different and a cookie cutter policy won’t apply. For instance, these questions might help in determining if your situation will benefit from professional help.

  • Do I need to file an SR-22 for a DUI in my state?
  • Do I need special endorsements for business use of my vehicle?
  • Is my nanny covered when driving my vehicle?
  • Am I covered if I hit a deer?
  • Will my rates increase for filing one claim?
  • Does my policy cover my teen driver if they drive my company car?
  • When does my teenage driver need to be added to my policy?
  • Do I really need UM/UIM coverage?

If you’re not sure about those questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

The fine print in car insurance ads

Companies like Progressive, GEICO, Allstate and State Farm continually stream television and radio advertisements. All the ads make an identical promise that you can save after switching to them. How do they all claim to save you money? This is how they do it.

Insurance companies can use profiling for the type of driver that is profitable for them. For example, a desirable insured could possibly be between 25 and 40, has no driving citations, and has a high credit rating. Any driver that hits that “sweet spot” will qualify for the lowest rates and most likely will save quite a bit of money when switching.

Potential customers who do not match the “perfect” profile must pay higher rates and ends up with the customer not buying. Company advertisements say “drivers who switch” not “everyone that quotes” save that much money. This is how companies can advertise the way they do.

This illustrates why drivers should get as many quotes as possible. It is impossible to predict which car insurance company will provide you with the cheapest BMW 3 Series insurance rates.

Auto insurance coverage information

Knowing the specifics of your auto insurance policy aids in choosing the best coverages and proper limits and deductibles. Policy terminology can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverages available from auto insurance companies.

Liability coverages – This coverage protects you from damage that occurs to a person or their property. It protects YOU from legal claims by others. 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. You might see values of 25/50/25 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and $25,000 of coverage for damaged propery. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.

Liability coverage protects against things like attorney fees, pain and suffering and repair bills for other people’s vehicles. How much liability coverage do you need? That is a personal decision, but buy as much as you can afford.

Collision – Collision coverage will pay to fix damage to your 3 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 claims like scraping a guard rail, sustaining damage from a pot hole, rolling your car, colliding with a tree and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Another option is to bump up the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your BMW 3 Series.

Due to the fact that many drivers carry very low liability coverage 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. Usually these limits are set the same as your liablity limits.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like doctor visits, surgery, funeral costs, prosthetic devices and chiropractic care. The coverages can be used in conjunction with a health insurance plan or if you do not have health coverage. They cover you and your occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Comprehensive insurance – This coverage 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 pays for things like vandalism, a tree branch falling on your vehicle, hail damage and falling objects. 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.

Keep this in mind

As you go through the steps to switch your coverage, it’s a bad idea to skimp on coverage in order to save money. There are many occasions where an insured cut comprehensive coverage or liability limits only to regret that the few dollars in savings costed them thousands. The proper strategy is to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.

Affordable 2001 BMW 3 Series insurance is attainable from both online companies in addition to many insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. A few companies do not provide the ability to get a quote online and usually these small insurance companies provide coverage only through local independent agents.

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