2003 BMW 3 Series Insurance Quotes – 8 Tricks for Cheaper Rates

Trying to find lower auto insurance rates for your BMW 3 Series? Are you intimidated by the dozens of auto insurance sources in your area? You’re not alone. Vehicle owners have so many options that it can easily turn into a challenge to find the lowest price.

Shopping for more affordable coverage is quite easy. Essentially everyone who carries insurance coverage will more than likely be able to save money. Nevertheless, vehicle owners must understand the way insurance companies market on the web and apply this information to your search.

Auto insurance companies offer lots of discounts

Some companies don’t always list every discount in an easy-to-find place, so the list below contains a few of the more well known and also the lesser-known discounts that you may qualify for.

  • Active Service Discounts – Having an actively deployed family member could trigger a small discount.
  • Telematics Data Discounts – Insureds that choose to allow driving data collection to scrutinize their driving habits remotely like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates if they have good driving habits.
  • Own a Home – Owning a home can earn you a little savings because maintaining a house is proof of financial responsibility.
  • Bundled Policy Discount – If you have multiple policies with the same company you could get a discount of up to 20% off your total premium.
  • Theft Prevention System – Vehicles equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and will save you 10% or more.
  • Full Payment Discount – By making one initial payment as opposed to paying monthly you could save 5% or more.
  • Discounts for Safe Drivers – Safe drivers could pay up to 40% less on 3 Series insurance than drivers with accidents.
  • Include Life Insurance and Save – Some auto insurance companies give a lower rate if you buy some life insurance too.

Discounts lower rates, but most discounts do not apply to the overall cost of the policy. Some only reduce specific coverage prices like comp or med pay. Even though it appears you can get free auto insurance, you’re out of luck.

Larger auto insurance companies and some of the discounts are included below.

  • State Farm offers discounts including safe vehicle, multiple policy, driver’s education, student away at school, and good student.
  • Farmers Insurance discounts include youthful driver, distant student, alternative fuel, mature driver, multi-car, and good student.
  • Progressive policyholders can earn discounts including multi-policy, good student, online signing, multi-vehicle, and homeowner.
  • Geico may have discounts that include daytime running lights, emergency military deployment, anti-theft, defensive driver, federal employee, and good student.
  • Auto-Owners Insurance offers discounts for air bags, student away at school, good student, anti-lock brakes, and anti-theft.
  • The Hartford includes discounts for good student, defensive driver, bundle, anti-theft, driver training, air bag, and vehicle fuel type.
  • Farm Bureau may offer discounts for renewal discount, safe driver, 55 and retired, multi-policy, and multi-vehicle.
  • USAA may include discounts for multi-vehicle, new vehicle, defensive driver, military installation, loyalty savings, and driver training.

It’s a good idea to ask every company which discounts they offer. Discounts may not be available in every state.

Do I just need basic coverages?

When it comes to buying adequate coverage for your personal vehicles, there really is not a cookie cutter policy. Each situation is unique.

For example, these questions could help you determine if your insurance needs might need professional guidance.

  • Are rock chip repairs covered?
  • How much liability insurance is required?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Am I covered if I wreck a rental car?
  • Should I have combined single limit or split liability limits?
  • Will I be non-renewed for getting a DUI or other conviction?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Where can I find high-risk insurance?
  • Is extra glass coverage worth it?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find an agent in your area, simply complete this short form.

Buyer beware of insurance advertising tricks

Popular insurance providers such as Progressive, Allstate and Geico seem to constantly run television and radio advertisements. They all tend to make the same promise that drivers will save a bundle after switching your insurance coverage to their company. It sounds good, but how can they all save you money?

Insurance providers have specific criteria for the type of insured that will not have excessive claims. One example of a desirable risk should be between the ages of 30 and 45, has no claims, and has great credit. A propective insured who matches that profile receives the best car insurance rates and therefore will save quite a bit of money when switching.

Potential customers who fall short of these criteria will get more expensive rates and ends up with the customer not purchasing. If you listen closely, the ads state “people that switch” not “all people who quote” save money. That’s the way companies can make it sound like they have such great prices.

This really drives home the point why you need to do a price quote comparison at every renewal. It’s just not possible to know which insurance companies will have the lowest rates.

Car insurance 101

Having a good grasp of a car insurance policy can be of help when determining the right coverages for your vehicles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance kick in for immediate expenses for funeral costs, dental work, prosthetic devices and pain medications. The coverages can be utilized in addition to your health insurance program or if you do not have health coverage. It covers all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive auto coverage

This coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like vandalism, theft, damage from getting keyed, falling objects and fire damage. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Liability insurance

Liability insurance will cover damage that occurs to other people or property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Some companies may use a combined single limit or CSL which provides one coverage limit without having the split limit caps.

Liability coverage pays for things such as attorney fees, emergency aid, loss of income and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but you should buy as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your 2003 BMW 3 Series.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Normally these coverages do not exceed the liability coverage limits.

Auto collision coverage

This will pay to fix damage to your 3 Series resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as crashing into a ditch, driving through your garage door, crashing into a building and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from older vehicles. You can also choose a higher deductible in order to get cheaper collision rates.

In conclusion

Low-cost 2003 BMW 3 Series insurance can be purchased from both online companies as well as from independent agents, so you should compare both to have the best rate selection. Some companies may not provide the ability to get quotes online and usually these smaller companies work with independent insurance agencies.

Insureds switch companies for many reasons like delays in responding to claim requests, poor customer service, questionable increases in premium or even policy non-renewal. Regardless of your reason for switching companies, choosing a new insurance company can be less work than you think.

As you go through the steps to switch your coverage, don’t be tempted to reduce coverage to reduce premium. There are a lot of situations where an insured cut liability coverage limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase plenty of coverage for the lowest price, not the least amount of coverage.

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