Lower Your 1999 BMW M Insurance Cost

Trying to find cheaper insurance rates for your BMW M? I can’t think of a single person who likes buying insurance, especially when they are aware that they are paying too much. You have so many insurance companies to insure vehicles with, and though it is a good thing to have multiple companies, so many choices can make it hard to compare company pricing.

Consumers need to do rate comparisons on a regular basis because prices are variable and change quite frequently. Even if you think you had the lowest rates for M coverage last year the chances are good that you can find a lower rate quote today. Forget anything you know (or think you know) about insurance because I’m going to teach you how to quote online to save on insurance.

Buying car insurance is quite easy. If you have a current insurance coverage policy or are shopping for new coverage, you can use these techniques to shop for the lowest rates and still get good coverage. Drivers just need to learn the most efficient way to get comparison quotes on the web.

How to get low cost insurance coverage

Lowering your 1999 BMW M insurance coverage rates is not a difficult process. You just have to take a few minutes to compare free insurance quotes to discover which company has the cheapest insurance quotes. This can easily be done in a couple of different ways.

  • One of the best ways to get the best comparison quotes would be an industry-wide quote request form click to view form in new window. This quick form keeps you from doing repetitive form submissions for each company you want a rate for. Filling out one form gets insurance cost estimates from multiple companies.
  • A slightly less efficient method to get quotes online consists of going to the website for each individual company and go through the quote process again. For examples sake, let’s say you are doing a rate comparison from Allstate, State Farm and American Family. You would have to spend time on each company’s site and enter your policy data, which is why most consumers use the first method.

    To view a list of companies in your area, click here.

  • The least recommended way to get price estimates is making phone calls or going to all the different insurance agencies. Quoting online eliminates the middleman unless you require the advice and guidance of a licensed agent. Although, it is possible comparison shop online but still have the advice of a local agent.

Which method you use is up to you, but do your best to use the same coverage information on every price quote you get. If you are comparing different limits and deductibles on each one it will be impossible to make a fair rate comparison.

Lower rate quotes with discounts

Insurance coverage is not an enjoyable expense, but you might already qualify for some discounts that can help lower your rates. Some of these disounts will be visible when you purchase, but occassionally some discounts must be manually applied before you get the savings. If you check and find you aren’t receiving every discount you qualify for, you’re paying more than you need to.

  • ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can stop better under adverse conditions and therefore earn up to a 10% discount.
  • 55 and Retired – Seniors may qualify for reduced rates for M coverage.
  • Full Payment Discount – By paying your policy upfront rather than paying monthly you can avoid monthly service charges.
  • Online Discount – A few companies may give you up to $50 just for signing your application online.
  • Driving Data Discount – Insureds that choose to allow driving data submission to scrutinize driving manner by using a telematic data system such as State Farm’s In-Drive might see lower rates as long as they are good drivers.
  • Employee of Federal Government – Federal government employees could cut as much as 10% off for M coverage depending on your insurance coverage provider.
  • Safety Course Discount – Participating in a defensive driver course could earn you a small percentage discount if your company offers it.
  • Lower Rates for Military – Being on active deployment in the military can result in better insurance coverage rates.
  • Student Discounts – A discount for being a good student can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up until you turn 25.
  • Bundle and Save – If you can combine your auto and home policy and place coverage with the same company you could get a discount of nearly 15% which can help you find affordable insurance.

As a disclaimer on discounts, some of the credits will not apply to all coverage premiums. Some only reduce the cost of specific coverages such as comp or med pay. So when the math indicates you would end up receiving a 100% discount, companies don’t profit that way.

Auto insurance companies that may offer most of these discounts may include but are not limited to:

If you need low cost insurance quotes, ask every insurance company which discounts they offer. Savings may not apply to policyholders in your area.

What is the best auto insurance coverage?

When choosing coverage, there really is not a one size fits all plan. Everyone’s situation is a little different so your insurance needs to address that. Here are some questions about coverages that may help highlight whether or not you could use an agent’s help.

  • What is medical payments coverage?
  • Does my 1999 BMW M qualify for pleasure use?
  • Am I covered when driving a rental car?
  • Where can I find high-risk insurance?
  • Should I file a claim if it’s only slightly more than my deductible?
  • How can I get my company to pay me more for my totalled car?

If you can’t answer these questions but a few of them apply then you might want to talk to an agent. To find lower rates from a local agent, complete this form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.

Save money with these tips

Many factors are used when you get your auto insurance bill. Some factors are common sense like a motor vehicle report, although others are less apparent such as whether you are married or your vehicle rating.Smart consumers have a good feel for the different types of things that are used to determine insurance coverage rates. When consumers understand what determines base rates, this allows you to make good choices that may reward you with cheaper rates.

  • Extra coverages could be costing you – Insurance policies have a lot of add-on coverages that sound like a good idea at the time if you aren’t diligent. Coverages for rental car coverage, accidental death, and additional equipment coverage are probably not needed. They may seem like a good idea when discussing your needs, but if you don’t need them think about removing them and cutting costs.
  • How’s your driving record? – Having a clean driving record has a lot to do with how much you pay for insurance. Careful drivers get better prices compared to drivers with tickets. Just one speeding ticket or other violation can increase the cost of insurance by as much as twenty percent. Drivers who have gotten serious violations like DUI, reckless driving or excessive speeding may need to file a SR-22 with their state in order to drive a vehicle legally.
  • High credit history translates to low rates – Having a bad credit rating is a large factor in calculating your insurance coverage rates. If your credit is lower than you’d like, you could pay less to insure your 1999 BMW M by improving your credit score. Consumers who have very good credit scores tend to file fewer claims and have better driving records as compared to drivers with poor credit.
  • Do thieves like your car? – Choosing a vehicle that has a built-in theft deterrent system can help lower your premiums. Anti-theft features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart auto theft.

Can you really save $477 a year?

Consumers constantly see and hear ads that claim the cheapest premium rates by Progressive, Allstate and Geico. All the ads make an identical promise that you can save if you just switch your coverage.

But how can every company give you a better price? It’s all in the words they use.

Many companies have specific criteria for the type of customer that is profitable for them. For example, a profitable insured could possibly be between 30 and 50, has no prior claims, and has excellent credit. A customer getting a price quote who matches that profile gets the lowest prices and will also save money with a new company.

Consumers who do not match the “perfect” profile may be forced to pay higher premiums which results in the customer buying from someone else. If you pay attention, the ads say “drivers that switch” not “all people who quote” save money. That’s why companies can make claims like that. This emphasizes why drivers must get as many free insurance quotes as possible. It’s just too difficult to predict the company that will have the lowest rates.

Insurance coverage basics

Understanding the coverages of your insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average insurance policy.

Medical expense coverage – Med pay and PIP coverage reimburse you for expenses such as EMT expenses, hospital visits and pain medications. They are used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers you and your occupants in addition to getting struck while a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage

Comprehensive protection – This covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as rock chips in glass, hitting a bird and vandalism. The maximum payout you’ll receive from a claim 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.

Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Because many people 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 important protection for you and your family.

Auto liability – This coverage will cover injuries or damage you cause to other’s property or people that is your fault. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.

Liability can pay for claims such as court costs, attorney fees, legal defense fees and structural damage. How much liability should you purchase? That is up to you, but consider buying higher limits if possible.

Collision – Collision insurance will pay to fix damage to your M caused by collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for claims such as crashing into a ditch, colliding with another moving vehicle and backing into a parked car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Best coverage at the best price

We just showed you quite a bit of information on how to lower your 1999 BMW M insurance prices. The key concept to understand is the more rate comparisons you have, the better likelihood of getting affordable insurance. You may be surprised to find that the biggest savings come from some of the lesser-known companies. These companies may have significantly lower rates on certain market segments as compared to the big name companies such as Progressive and Geico.

As you restructure your insurance plan, you should never buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice full coverage to discover at claim time that it was a big mistake. The proper strategy is to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.

Even more information can be read at these sites: