1998 BMW 7 Series Insurance Quotes – 5 Savings Tips

I can’t think of a single person who likes having to buy insurance coverage, especially when the prices are way too high.

Big companies like Progressive, Geico and Farmers Insurance constantly bombard you with advertising and it is difficult to ignore the propoganda and take the time to shop coverage around.

It is always a good idea to compare rates yearly because prices are adjusted regularly by insurance companies. Just because you had the lowest rates for 7 Series insurance a couple years back you can probably find a better rate quote now. Ignore everything you know about insurance coverage because we’re going to show you how to quote online to lower your annual insurance bill.

Insurance Discounts

Companies that sell car insurance don’t always advertise their entire list of discounts in an easy-to-find place, so the next list breaks down some of the more common as well as the least known discounts that you can inquire about if you buy auto insurance online.

  • Homeowners Pay Less – Owning your own home or condo can get you a discount since home ownership is proof of financial responsibility.
  • Good Student Discount – A discount for being a good student can get you a discount of up to 25%. Most companies allow this discount up until you turn 25.
  • Telematics Data Discounts – Policyholders that allow their company to analyze driving patterns by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease if they exhibit good driving behavior.
  • Multiple Vehicles – Drivers who insure several vehicles on a single policy can get a discount on all vehicles.
  • Bundle and Save – If you combine your homeowners and auto policies with the same company you could get a discount of up to 20% and get you cheaper auto insurance.

Discounts lower rates, but most discount credits are not given to the entire policy premium. Most only apply to specific coverage prices like comprehensive or collision. So even though they make it sound like it’s possible to get free car insurance, it just doesn’t work that way. Any qualifying discounts will lower your insurance premiums.

Some of the larger companies that have these benefits are:

If you are trying to find cheaper auto insurance quotes, ask each company how you can save money. Some discounts might not be offered everywhere.

Compare free car insurance quotes

There are a variety of methods to compare car insurance quotes, and some are easier and takes less work. You could spend the better part of a day talking about coverages with insurance companies in your area, or you could save time and use the web to quickly compare rates.

Most car insurance companies take part in a program that enables customers to only type in their quote data once, and each company provides a quote based on the submitted data. This saves time by eliminating form submissions for every car insurance company.

To enter your information into the quoting system, click here to open in new window.

One minor caviat to getting quotes like this is that you can’t choose which carriers you want pricing from. So if you prefer to pick from a list of companies to compare rates, we put together a list of companies who write car insurance in your area. Click to view list.

How you compare quotes is your choice, just make darn sure you compare equivalent information on every price quote you get. If you compare different values for each quote then you won’t be able to make an equal comparison. Quoting even small variations in coverage limits can result in a big premium difference. And when comparing car insurance rates, know that comparing more quotes helps locate more affordable insurance. Not every company allows you to get rate quotes online, so it’s recommended that you also compare rates from those companies as well.

Tailor your auto insurance coverage to you

When choosing coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different so your insurance needs to address that. For example, these questions can help discover whether your personal situation would benefit from an agent’s advice.

  • Is my BMW 7 Series covered if I use it for business?
  • Is rental equipment covered for theft or damage?
  • Can I drive in Mexico and have coverage?
  • Am I covered when delivering products for my home-based business?
  • How many claims can I have before being cancelled?
  • Is my state a no-fault state?
  • Do I need PIP coverage since I have good health insurance?
  • Is there coverage for injuries to my pets?
  • How high should my medical payments coverage be?
  • When should my teen driver be added to my policy?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.

Car insurance 101

Learning about specific coverages of your insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are typical coverage types found on the average insurance policy.

Collision protection

Collision insurance covers damage to your 7 Series resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as crashing into a ditch, backing into a parked car and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Coverage for liability

Liability insurance will cover damages or injuries you inflict on other people or property in an accident. It protects you from legal claims by others, and does not provide coverage for 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 policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability can pay for things such as repair costs for stationary objects, attorney fees, legal defense fees and medical services. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford.

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and damage to your 1998 BMW 7 Series.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like a tree branch falling on your vehicle, hail damage, vandalism, a broken windshield and fire damage. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Insurance for medical payments

Coverage for medical payments and/or PIP kick in for immediate expenses for hospital visits, EMT expenses, X-ray expenses, chiropractic care and nursing services. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Shop smart and save

More affordable insurance coverage can be sourced on the web and also from your neighborhood agents, so you should be comparing quotes from both to have the best selection. A few companies do not provide online price quotes and many times these regional carriers only sell through independent insurance agents.

We just covered a lot of information how to lower your 1998 BMW 7 Series insurance rates. It’s most important to understand that the more rate comparisons you have, the more likely it is that you will get a better rate. Consumers may even find the best price on insurance coverage is with a lesser-known regional company. Smaller companies may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive and Geico.

More detailed insurance coverage information is located by following these links: