1998 BMW M Insurance Rates – 6 Tips for Cheaper Quotes

Looking for lower car insurance rates for your BMW M? Did a good deal turn into high-priced car insurance? Trust us when we tell you there are lots of residents who feel the same. Due to the abundance of car insurance companies to choose from, it is hard for the average consumer to pick a lower cost car insurance provider.

It’s important to compare prices quite often due to the fact that insurance prices fluctuate regularly. Just because you found the best rates on M coverage last year a different company probably has better premium rates today. Ignore everything you know about car insurance because we’re going to demonstrate how to use the internet to find better coverage at a better price.

Six discounts to earn lower-cost car insurance rates

Car insurance is not an enjoyable expense, but you may be missing some discounts that you may not even be aware of. Some trigger automatically at the time of quoting, but occassionally some discounts must be requested specifically prior to getting the savings.

  • Low Mileage Discounts – Maintaining low annual mileage can qualify you for discounted prices on garaged vehicles.
  • Passive Restraints – Factory air bags can qualify for discounts of 20 to 30 percent.
  • Bundled Policy Discount – When you combine your auto and homeowners insurance and insure them with the same company you could earn a discount of at least 10% off all policies.
  • Discount for Life Insurance – If the company offers life insurance, you could get a small discount if you purchase life insurance.
  • Telematics Discount – Drivers that enable their car insurance company to scrutinize driving habits by installing a telematics device like Allstate’s Drivewise might see lower rates if they have good driving habits.
  • Lower Rates for Military – Having an actively deployed family member may lower your rates slightly.

It’s important to note that some of the credits will not apply to your bottom line cost. A few only apply to individual premiums such as liability, collision or medical payments. So even though you would think you could get a free car insurance policy, insurance companies wouldn’t stay in business.

To see insurance companies with the best car insurance discounts, follow this link.

How to get free insurance quotes online

Shopping for lower insurance rates can be exhausting if you don’t utilize the easiest way. You can waste a few hours (or days) discussing policy coverages with agents in your area, or you could save time and use the web to accomplish the same thing much quicker.

The majority of car insurance companies enroll in a system where insurance shoppers send in one quote, and each company returns a competitive quote. This prevents consumers from doing quote forms for each company you want a rate for.

To find out what other companies charge click here to start a free quote.

One minor caviat to getting quotes like this is buyers cannot specifically choose the companies you want to price. If you prefer to choose individual companies to request quotes from, we put together a list of low cost insurance companies in your area. Click here for list of insurance companies.

It doesn’t matter which method you choose, just be certain you are entering apples-to-apples deductibles and coverage limits on every quote you get. If you use different data it’s impossible to determine which company has the best rates.

Tailor your insurance coverage coverage to you

When choosing adequate coverage, there is no cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For instance, these questions can help discover whether or not you might need professional guidance.

  • What exactly is covered by my policy?
  • How do I file an SR-22 for a DUI in my state?
  • Does coverage extend to a rental car in a foreign country?
  • Does my personal policy cover me when driving out-of-state?
  • Should I rate my 1998 BMW M as pleasure use or commute?
  • Do I need medical payments coverage since I have good health insurance?
  • What if I don’t agree with a claim settlement offer?
  • How can I get high-risk coverage after a DUI?

If you can’t answer these questions, you might consider talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and can help protect your family.

Truth in car insurance advertising

Consumers can’t escape the ads that claim the cheapest auto insurance rates from companies such as 21st Century, Allstate and State Farm. They all make an identical promise about saving some big amount if you get a free insurance quote and switch your coverage.

How does every company charge you less for auto insurance?

Many companies quote their best rates for the type of driver that will generate a profit. For instance, a driver they prefer might have to be between the ages of 30 and 45, owns their home, and drives a safe vehicle. Anybody who matches that profile receives the best auto insurance rates and have a good chance to save money with a new company.

Insureds who do not fit these criteria must pay higher premiums and ends up with the customer not purchasing. If you listen to the ad wording, they say “drivers that switch” not “everyone who quotes” save that much. That’s why companies can make claims that they all have the best prices. This really illustrates why you really need to get a wide range of price quotes. Because without a comparison, you cannot know which insurance companies will have the lowest premium rates for your situation.

Auto insurance coverage information

Having a good grasp of a auto insurance policy can help you determine the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Listed below are typical coverages found on most auto insurance policies.

Uninsured and underinsured coverage

This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants as well as damage to your BMW M.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Coverage for medical payments

Coverage for medical payments and/or PIP pay for short-term medical expenses like ambulance fees, prosthetic devices, X-ray expenses, doctor visits and funeral costs. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Comprehensive coverages

This coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hail damage, hitting a deer and rock chips in glass. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability insurance

This will cover damage that occurs to other people or property. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.

Liability can pay for claims such as emergency aid, pain and suffering and legal defense fees. How much liability should you purchase? That is a personal decision, but buy as large an amount as possible.

Collision coverage

This covers damage to your M resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things like damaging your car on a curb, backing into a parked car and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. You can also increase the deductible to bring the cost down.

Be a penny pincher

You just learned a lot of information how to lower your 1998 BMW M insurance premium rates. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding low cost insurance. You may even discover the most savings is with a small local company. Smaller companies can often insure niche markets at a lower cost than their larger competitors like State Farm, Geico and Nationwide.

Some companies don’t offer the ability to get quotes online and usually these regional carriers sell through local independent agencies. Cheaper auto insurance can be found both online as well as from independent agents, and you need to comparison shop both so you have a total pricing picture.

As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. There have been many cases where an insured cut liability limits or collision coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to find the BEST coverage for the lowest price while still protecting your assets.

Much more information about auto insurance is available on the following sites: