View 2012 BMW 7 Series Car Insurance Quotes

Want cheaper insurance rates for your BMW 7 Series? Consumers who are new to the process of comparison shopping online could find finding the cheapest insurance quite challenging.

Take advantage of discounts

The cost of insuring your cars can be expensive, but you can get discounts to help offset the cost. Some discounts apply automatically when you complete an application, but some must be asked for before being credited.

  • Paperless Signup – A few companies may give you up to $50 for buying a policy and signing up online.
  • Driver Safety – Successfully completing a course in driver safety can save you 5% or more if you qualify.
  • Safe Drivers – Safe drivers can pay as much as 50% less for 7 Series insurance than less cautious drivers.
  • Passive Restraints and Air Bags – Cars that have air bags and/or automatic seat belt systems can get savings up to 30%.
  • Claim Free – Good drivers with no accidents pay less when compared with drivers who are more careless.
  • One Accident Forgiven – A few companies will forgive one accident before hitting you with a surcharge if your claims history is clear for a set time period.

Drivers should understand that most credits do not apply to the entire cost. Most only apply to specific coverage prices like comp or med pay. Just because it seems like you could get a free car insurance policy, car insurance companies aren’t that generous. Any qualifying discounts will bring down your premiums.

A partial list of companies that possibly offer some of the above discounts may include but are not limited to:

Check with each insurance company what discounts are available to you. Some discounts might not apply everywhere.

Compare Insurance Today

There are several ways of comparing rate quotes and find the best price. By far the easiest way to find the cheapest 2012 BMW 7 Series insurance rates is to get quotes online. This can be accomplished in just a few minutes using one of these methods.

The first (and easiest) way consumers can make multiple comparisons is a comparison rater form click here to open form in new window. This form keeps you from doing separate forms for each company you want a rate for. One form will get you price quotes from several companies. It’s the fastest way to compare.

A more time consuming way to shop for insurance online consists of visiting the website of each company to complete a price quote. For instance, let’s say you want comparison quotes from USAA, State Farm and American Family. To get rate quotes you would need to take the time to go to each site to input your insurance information, which is why the first method is more popular. To view a list of companies in your area, click here.

Whichever way you use, be sure to compare the exact same coverage limits and deductibles on every quote you get. If you use mixed coverages it will be very difficult to determine the lowest rate for your BMW 7 Series. Just a small difference in coverage limits could mean much higher rates. And when comparison shopping, comparing more company’s prices will enable you to find the best rates.

BMW 7 Series insurance rates have many determining factors

An important part of buying insurance is that you know the different types of things that play a part in calculating the price you pay for auto insurance. Having a good understanding of what influences your rates helps enable you to make changes that could result in big savings.

Shown below are a partial list of the pieces that factor into premiums.

  • Marriage pays dividends – Getting married can actually save you money on your policy. Having a spouse usually means you are more mature and it’s proven that married couples file fewer claims.
  • Rates may be higher depending on your occupation – Occupations like real estate brokers, executives and financial analysts are shown to have higher average rates in part from high stress levels and long work days. Conversely, occupations such as actors, engineers and retirees pay the least for 7 Series insurance.
  • Your age impacts your rates – Teen drivers are known to be more careless behind the wheel so they pay higher auto insurance rates. Parents adding a young driver to your policy can be quite pricey. Older drivers are viewed as being more responsible, file fewer claims and are safer drivers.
  • Small claims can cost you – If you tend to file frequent claims, you can definitely plan on either higher rates or even cancellation. Insurance companies provide better rates to people who are claim-free. Car insurance is meant to be used in the event of major claims that would cause financial hardship.
  • Traffic violations increase rates – Your driving citation history has a huge affect on how much you pay. Just one speeding ticket can bump up the cost forty percent or more. Drivers who don’t get tickets have lower premiums than bad drivers. Drivers who have serious citations such as DUI or reckless driving may need to submit a SR-22 form with their state DMV in order to continue driving.
  • Bump up deductibles to save – Your deductibles define the amount you are willing to pay out-of-pocket before your auto insurance pays a claim. Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some examples of claims that would be covered could be running into the backend of another car, damage from fire, and burglary. The more money the insured has to pay upfront, the less your company will charge you for insurance for 7 Series insurance.
  • Rate your vehicle for proper use – The higher the mileage driven in a year the higher your rate. Almost all companies price each vehicle’s coverage determined by how the vehicle is used. Cars not used for work or commuting can get a lower rate as compared to vehicles used primarily for driving to work. Ask your agent if your auto insurance declarations sheet shows the correct usage for each vehicle, because it can save money. If your policy improperly rates your 7 Series can cost quite a bit.

How to know if you need help

When it comes to choosing adequate coverage for your personal vehicles, there is no single plan that fits everyone. Every insured’s situation is different.

For example, these questions can aid in determining if your situation will benefit from professional help.

  • When would I need additional glass coverage?
  • What is no-fault insurance?
  • What is covered by UM/UIM coverage?
  • Do I need special endorsements for business use of my vehicle?
  • Where can I get insurance after a DUI in my state?
  • How can I force my company to pay a claim?
  • Should I file a claim if it’s only slightly more than my deductible?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, fill out this quick form.

Do drivers who switch really save $400 a year?

Companies like State Farm and Allstate regularly use television and radio advertisements. All the ads make the same claim of big savings if you move to their company. How do they all claim to save you money?

All the different companies have a certain “appetite” for the type of customer that is profitable for them. For instance, a profitable customer might be a mature driver, owns a home, and has great credit. Any new insured that hits that “sweet spot” is entitled to the best price and is almost guaranteed to save when they switch companies.

Consumers who don’t meet the requirements must pay a more expensive rate and ends up with the driver buying from a lower-cost company. The ads state “people who switch” not “people who quote” save that kind of money. That is how insurance companies can make those claims.

This illustrates why you should get as many comparisons as possible. It’s impossible to know the company that will fit your personal profile best.

Auto insurance coverage basics

Knowing the specifics of a auto insurance policy aids in choosing which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy.

Liability coverage

Liability coverage provides protection from injuries or damage you cause to people or other property in an accident. It protects you from claims by other people, and doesn’t cover 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. You might see policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage protects against claims such as attorney fees, court costs, legal defense fees, emergency aid and loss of income. The amount of liability coverage you purchase is up to you, but buy as high a limit as you can afford.

Protection from uninsured/underinsured drivers

This coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your BMW 7 Series.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Normally these coverages are set the same as your liablity limits.

Collision insurance

This coverage covers damage to your 7 Series from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like crashing into a ditch, crashing into a building, backing into a parked car and sideswiping another vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Comprehensive (Other than Collision)

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as theft, hitting a bird, a tree branch falling on your vehicle, damage from flooding and rock chips in glass. The most your auto insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills like EMT expenses, funeral costs, nursing services and ambulance fees. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Coverage on a shoestring budget

While you’re price shopping online, it’s a bad idea to buy less coverage just to save a little money. There have been many situations where an accident victim reduced liability coverage limits only to discover later that the savings was not a smart move. The ultimate goal is to purchase plenty of coverage at the best price, not the least amount of coverage.

Consumers switch companies for a variety of reasons including unfair underwriting practices, high prices, an unsatisfactory settlement offer and even questionable increases in premium. No matter why you want to switch, finding a new insurance coverage company can be easier than you think.

In this article, we covered quite a bit of information on how to get a better price on 2012 BMW 7 Series insurance. The key concept to understand is the more quotes you get, the better your comparison will be. Drivers may discover the lowest priced insurance coverage comes from a small local company.

Additional detailed information can be read at these sites: