Compare 2014 BMW 7 Series Insurance Cost

Looking for the cheapest car insurance rates for your BMW 7 Series? Finding affordable car insurance is challenging for consumers new to comparing rates online. People have so many choices that it can easily become a real hassle to find the best price.

If you currently have car insurance, you stand a good chance to be able to save some money using this information. This information will instruct you on how to effectively get price quotes and some tips to save money. Nevertheless, drivers need to learn the way companies sell insurance online and use this information to your advantage.

How to Buy Insurance Coverage Online

There are a lot of ways to compare insurance coverage prices but some are easier and takes less work. You could waste a few hours discussing policy coverages with agents in your area, or you could use the internet to achieve your goal.

Most of the larger companies participate in a marketplace that allows shoppers to send in one quote, and at least one company returns a rated price based on that information. This prevents consumers from doing quote forms to each company.

To find out what other companies charge for 2014 BMW 7 Series insurance click to open in new window.

The one downside to doing it this way is you don’t know exactly which insurance companies to get quotes from. If you prefer to choose from a list of companies for rate comparison, we put together a list of the cheapest insurance coverage companies in your area. Click to view list.

However you get your quotes, make absolute certain that you use the exact same coverage limits for each price quote. If you use unequal deductibles or liability limits it’s impossible to make a fair comparison for your BMW 7 Series. Just a small difference in limits can mean a large discrepancy in price. And when comparison shopping, getting more free quotes will increase your chances of finding lower pricing.

Don’t overlook these discounts

Auto insurance companies don’t list every discount very clearly, so here is a list both the well known and the more hidden auto insurance savings.

  • Driver’s Ed – Have your child take driver’s ed class in high school.
  • Auto/Life Discount – Companies who offer life insurance give a break if you buy life insurance.
  • Homeowners Pay Less – Simply owning a home can help you save on auto insurance because maintaining a house is proof that your finances are in order.
  • Military Discounts – Having a deployed family member can result in better rates.
  • Theft Prevention Discount – Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • No Claims – Drivers who don’t have accidents pay much less when compared with drivers who are more careless.
  • Sign Online – Certain companies will give a small break simply for signing over the internet.
  • Good Student Discount – Performing well in school can save 20 to 25%. This discount can apply up until you turn 25.
  • Senior Citizens – If you’re over the age of 55, you may qualify for a discount up to 10% for 7 Series insurance.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce specific coverage prices like collision or personal injury protection. Just because it seems like all those discounts means the company will pay you, it doesn’t quite work that way.

To see a list of providers with the best auto insurance discounts, click here.

Pieces of the BMW 7 Series insurance rate puzzle

It’s important that you understand some of the elements that help determine your car insurance rates. Understanding what influences your rates helps enable you to make changes that will entitle you to big savings.

The following are a partial list of the pieces that factor into prices.

  • Younger drivers pay higher rates – Young drivers tend to be less responsible behind the wheel so car insurance rates are higher. Adding a youthful driver to your car insurance policy can be very expensive. Older drivers tend to be more responsible, statistically cause fewer accidents and are safer drivers.
  • Do you have enough liability coverage? – Your policy’s liability coverage will protect you when you are found to be at fault for personal injury or accident damage. It provides legal defense starting from day one. Liability insurance is quite affordable as compared to coverage for physical damage, so do not skimp.
  • Bad driving skills means higher rates – Your driving citation history has a huge affect on how much you pay. Drivers with clean records receive lower rates than their less careful counterparts. Just one moving violation may increase your cost forty percent or more. Drivers who have dangerous citations such as hit and run, DWI or reckless driving convictions may need to submit a SR-22 form with their state motor vehicle department in order to prevent a license revocation.
  • Special features that cut premiums – Choosing a vehicle with a theft deterrent system can help lower your rates. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart your car from being stolen.

Is my situation unique?

When buying the best insurance coverage, there isn’t really a one size fits all plan. Everyone’s situation is unique.

Here are some questions about coverages that can help discover whether or not you would benefit from an agent’s advice.

  • Are my friends covered when driving my 2014 BMW 7 Series?
  • Is my trailer covered?
  • What companies insure drivers after a DUI or DWI?
  • Do I need more liability coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I pay less for low miles?
  • How high should my medical payments coverage be?
  • Why am I required to buy liability insurance?
  • Should I carry comprehensive and collision coverage?

If you can’t answer these questions but you know they apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, complete this form.

Auto insurance coverage information

Having a good grasp of your policy helps when choosing the right coverages and proper limits and deductibles. Policy terminology can be difficult to understand and nobody wants to actually read their policy.

Collision protection

This 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 insurance covers claims like backing into a parked car, crashing into a ditch, crashing into a building, colliding with a tree and damaging your car on a curb. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. You can also increase the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your BMW 7 Series.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like prosthetic devices, X-ray expenses, dental work and funeral costs. They are utilized in addition to your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Liability auto insurance

Liability coverage protects you from damage that occurs to a person or their property that is your fault. It protects you from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that translate to a $100,000 limit per person for injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against things like emergency aid, court costs, structural damage, repair bills for other people’s vehicles and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying higher limits if possible.

Comprehensive insurance

This pays for damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like a tree branch falling on your vehicle, damage from getting keyed and damage from a tornado or hurricane. The maximum amount your car insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Save your cold hard cash

Affordable 2014 BMW 7 Series insurance can be found on the web in addition to many insurance agents, so you should compare both to have the best chance of lowering rates. Some insurance companies do not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.

As you shop your coverage around, do not skimp on coverage in order to save money. There have been many cases where drivers have reduced collision coverage and discovered at claim time they didn’t purchase enough coverage. The ultimate goal is to buy a smart amount of coverage at an affordable rate.

Drivers leave their current company for many reasons like denial of a claim, high rates after DUI convictions, not issuing a premium refund and even being labeled a high risk driver. Regardless of your reason for switching companies, finding the right car insurance provider is pretty easy and you might even save some money in the process.

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