1993 BMW 3 Series Car Insurance Cost

Searching for lower insurance rates for your BMW 3 Series? If you’re trying to find lower-cost insurance on the web, do you get confused by the number of insurance choices? Many other drivers are as well. You have such a vast assortment of choices available that it can turn into a ton of work to find the lowest price.

This article will introduce you to the best way to quote coverages and some tricks to saving. If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using these techniques. But vehicle owners must know how companies price online insurance and apply this information to your search.

Affordable auto insurance rates with discounts

Car insurance companies don’t always publicize their entire list of discounts very clearly, so the list below gives a summary of some of the best known as well as some of the hidden credits available to bring down your rates.

  • Federal Government Employee – Active or former government employment could qualify for a slight premium decrease on 3 Series insurance with some auto insurance companies.
  • Multi-policy Discount – If you can bundle your auto and homeowners insurance with the same insurance company you will save over 10 percent off each policy depending on the company.
  • Homeowners Pay Less – Owning a home can save you money since home ownership is proof of financial responsibility.
  • Pay Upfront and Save – If you pay your entire premium ahead of time as opposed to paying monthly you may reduce your total bill.
  • Accident Forgiveness – Not a discount per se, but a few companies such as Progressive, State Farm and Geico will let one accident slide before they charge you more for coverage if you are claim-free for a set time period.
  • Anti-theft System – Vehicles that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Accident Free – Claim-free drivers get the best auto insurance rates when compared to drivers with a long claim history.
  • Discounts for Safe Drivers – Insureds who avoid accidents can pay as much as 50% less on 3 Series insurance than drivers with accident claims.

Remember that most credits do not apply to the entire cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. Despite the fact that it seems like you could get a free auto insurance policy, insurance companies wouldn’t stay in business. Any amount of discount will bring down your overall bill.

To see insurance companies that can offer you the previously mentioned discounts, click here.

Components of your BMW 3 Series insurance rates

Many different elements are part of the equation when quoting car insurance. A few of the factors are predictable like your driving record, but other factors are not quite as obvious such as whether you are married or how financially stable you are.

The factors shown below are a few of the “ingredients” used by companies to determine your rates.

  • How do annual miles impact prices? – The more miles you rack up on your BMW in a year the more it will cost to insure it. Many insurance companies calculate prices based upon how the vehicle is primarily used. Cars that are left in the garage receive better premium rates than vehicles that are driven to work every day. Verify your auto insurance policy shows the right rating data. Incorrect rating for your 3 Series is just wasting money.
  • Vehicle features that lower rates – Choosing to buy a car with anti-theft technology or alarm system can help bring down rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart car theft.
  • Increase coverage deductibles to save – The deductibles represent how much money you are required to spend if a covered claim is submitted. Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your car from damage. Examples of covered claims are collision with another vehicle, hail damage, and damage from wind. The more of the claim the insured has to pay upfront, the less your company will charge you for insurance on 3 Series insurance.
  • Reduce premiums by staying claim free – If you’re an insured who likes to file claims you shouldn’t be surprised to get either higher rates or even cancellation. Companies give discounts to insureds who do not rely on their insurance for small claims. Auto insurance is designed for claims that you cannot pay yourself.

Tailor your insurance coverage to you

When it comes to choosing adequate coverage, there is no best way to insure your cars. Your needs are not the same as everyone else’s.

For instance, these questions can help discover whether your personal situation might need professional guidance.

  • Can my teen driver be rated on a liability-only vehicle?
  • If my 1993 BMW 3 Series is totaled, can I afford another vehicle?
  • Does insurance cover damages from a DUI accident?
  • Is my BMW 3 Series covered if I use it for business?
  • If my pet gets injured in an accident are they covered?
  • How can I force my company to pay a claim?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Is my state a no-fault state?

If you can’t answer these questions but you think they might apply to your situation, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.

Can you really save if you switch?

Insurance coverage providers like State Farm, Allstate and Geico seem to constantly run television, radio, and online ads. All the ads seem to make the promise about saving some big amount after switching your insurance coverage coverage to their company. How does each company have lower policy pricing? It’s all in the wording.

Companies are able to cherry pick for the right customer that will not have excessive claims. One example of a preferred risk might have to be married and over the age of 30, owns a home, and drives less than 7,500 miles a year. Any driver who matches those parameters will get low rates and as a result will probably save when switching.

Drivers who don’t qualify for this stringent profile will get higher premiums and the customer not buying. If you listen to the ad wording, they say “customers that switch” but not “everyone who gets a quote” save the amount stated. This is how companies can claim big savings.

Because each company has a different risk profile, drivers should get as many free auto insurance quotes as possible. Because you never know which insurance companies will have better premium rates than you’re paying now.

Car insurance coverage breakdown

Learning about specific coverages of a car insurance policy aids in choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

Liability coverages

Liability coverage will cover injuries or damage you cause to other people or property in an accident. This coverage protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as funeral expenses, attorney fees, bail bonds and legal defense fees. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy higher limits if possible.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as damage to your BMW 3 Series.

Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

Collision protection

This pays to fix your vehicle from damage resulting from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims such as hitting a mailbox, backing into a parked car and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for expenses like chiropractic care, surgery, nursing services and EMT expenses. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants in addition to getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

Comprehensive protection

Comprehensive insurance 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 claims like a broken windshield, rock chips in glass and damage from flooding. The maximum payout a car insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

More quotes mean more savings

In this article, we presented many tips how you can lower your 1993 BMW 3 Series insurance premium rates. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may even find the best price on auto insurance is with some of the lesser-known companies.

As you quote auto insurance, do not reduce coverage to reduce premium. There have been many situations where an accident victim reduced liability limits or collision coverage and discovered at claim time they didn’t purchase enough coverage. Your aim should be to buy the best coverage you can find for the lowest cost, but do not skimp to save money.

Drivers who switch companies do it for a variety of reasons including policy cancellation, high rates after DUI convictions, being labeled a high risk driver or not issuing a premium refund. Whatever your reason, switching companies is not as hard as you think.

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