2004 BMW 3 Series Insurance Rates

Want the cheapest car insurance rates for your BMW 3 Series? Are you sick and tired of wondering where the money will come from to make your car insurance payment? You are in the same boat as many other drivers.

Because you have many different company options, it can be diffult for drivers to locate the most cost effective insurer.

Finding the cheapest insurance can be fairly easy. In a nutshell, every driver who has to buy insurance will more than likely be able to reduce their rates. But vehicle owners do need to know how companies determine prices.

Insurance discounts are available to lower your rates

Companies offering auto insurance don’t always advertise all possible discounts in an easy-to-find place, so we researched both well-publicized and also the lesser-known credits available to lower your premiums when you buy insurance coverage online.

  • Seat Belt Discounts – Buckling up and requiring all passengers to use a seat belt can save 10% or more off the PIP or medical payment premium.
  • Telematics Data – People who choose to allow their company to scrutinize when and where they use their vehicle by using a telematics device in their vehicle such as Snapshot from Progressive or Drivewise from Allstate might see lower rates if they have good driving habits.
  • Homeowners Discount – Just being a homeowner can save a few bucks because it shows financial diligence.
  • Braking Control Discount – Cars with ABS and/or traction control have fewer accidents so you can save 10 percent or more.
  • Student Driver Training – Teen drivers should complete a driver education course in high school.
  • Claim-Free Discount – Insureds with no claims or accidents pay less compared to frequent claim filers.
  • Theft Prevention Discount – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are stolen less frequently and qualify for as much as a 10% discount.

Please keep in mind that most credits do not apply the the whole policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Even though it appears it’s possible to get free car insurance, insurance companies aren’t that generous.

Larger insurance companies and a selection of discounts can be found below.

  • Mercury Insurance offers premium reductions for type of vehicle, ease of repair, multi-policy, low natural disaster claims, good student, and annual mileage.
  • Farmers Insurance may include discounts for bundle discounts, mature driver, good student, switch companies, homeowner, electronic funds transfer, and alternative fuel.
  • Farm Bureau policyholders can earn discounts including multi-policy, safe driver, youthful driver, renewal discount, driver training, and good student.
  • State Farm offers discounts including safe vehicle, Steer Clear safe driver discount, Drive Safe & Save, anti-theft, student away at school, and multiple policy.
  • Allstate includes discounts for good payer, FullPay discount, eSmart discount, farm vehicle, and anti-lock brakes.
  • Geico has savings for multi-vehicle, driver training, good student, seat belt use, anti-lock brakes, multi-policy, and air bags.

When getting free insurance coverage quotes, it’s a good idea to every company which credits you are entitled to. Depending on the company, some discounts may not apply to policyholders in your state. If you would like to choose from a list of providers with significant discounts, follow this link.

Components of your BMW 3 Series insurance costs

Many different elements are part of the equation when you get your auto insurance bill. Some of the criteria are obvious like an MVR report, although others are less obvious such as your marital status or your vehicle rating.When buying insurance coverage it’s important to understand some of the things that help determine your insurance coverage rates. If you know what determines premiums, this allows you to make educated decisions that could result in better insurance coverage rates.

  • Save money by eliminating extra coverages – Policies have extra coverages that may not really be needed if you aren’t diligent. Coverages like rental car reimbursement, accident forgiveness, and additional equipment coverage may not be needed and are just wasting money. They may seem good at first, but if you don’t need them consider taking them off your policy.
  • Good credit saves on insurance coverage – A driver’s credit score is likely to be a major factor in determining premium rates. Therefore, if your credit rating can be improved, you could save money insuring your 2004 BMW 3 Series if you improve your credit rating. Consumers who have good credit tend to be more responsible than drivers who have poor credit scores.
  • Discounts for multiple policies – Most larger insurance coverage companies afford discounts to buyers that have more than one policy, otherwise known as a multi-policy discount. This can amount to as much as ten percent or more Even if you’re getting this discount drivers will still want to get quotes from other companies to help ensure you have the lowest rates.There is a chance you can save money even if you have your coverage with different companies
  • Choose high safety ratings and save – Safe vehicles tend to have better insurance rates. Vehicles built for safety help reduce the chance of injuries in an accident and better occupant protection means lower claim amounts and thus lower rates. If your BMW scored better than four stars on Safercar.gov it may be receiving lower rates.

Everyone needs different insurance coverage coverages

When it comes to buying coverage, there is no one size fits all plan. Each situation is unique so your insurance needs to address that. Here are some questions about coverages that may help you determine whether your personal situation would benefit from professional advice.

  • What is the ISO rating for a 2004 BMW 3 Series?
  • Can I afford low physical damage deductibles?
  • Are my tools covered if they get stolen from my vehicle?
  • What happens if I owe more than my 2004 BMW 3 Series is worth?
  • What companies insure drivers after a DUI or DWI?
  • How can I find cheaper teen driver insurance?
  • I have health insurance so do I need medical payments coverage?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • What can I do if my company denied a claim?

If you’re not sure about those questions then you might want to talk to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier

Don’t be fooled by advertising claims

Insurance coverage companies such as Allstate and Progressive consistently run television, radio, and online ads. All the companies make an identical promise that you can save if you switch your coverage. That’s great but how can every company have lower policy pricing? It’s all in how they say it.

Insurance coverage companies have specific criteria for a prospective insured that will be a good risk. A good example of a profitable customer could possibly be between the ages of 40 and 55, has no tickets, and has a short commute. Any driver who meets those qualifications is entitled to the best price and will probably pay quite a bit less when switching companies.

Drivers who fall short of the “perfect” profile will be charged higher premiums and this results in the driver buying from a lower-cost company. The wording the ads use say “drivers who switch” not “everyone who quotes” save that kind of money. This is how companies can state the savings.

Different companies use different criteria so it is so important to do a price quote comparison at every renewal. It is impossible to predict which insurance coverage company will provide the lowest prices.

Insurance specifics

Knowing the specifics of your insurance policy helps when choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverage types available from insurance companies.

Collision coverage – This covers damage to your 3 Series resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims like hitting a parking meter, crashing into a ditch, hitting a mailbox and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.

Comprehensive coverages – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like a broken windshield, a tree branch falling on your vehicle and rock chips in glass. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Uninsured and underinsured coverage – This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your BMW 3 Series.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Coverage for medical payments – Medical payments and Personal Injury Protection insurance pay for expenses for prosthetic devices, X-ray expenses and chiropractic care. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Liability auto insurance – This provides protection from damage that occurs to other’s property or people in an accident. It protects YOU from claims by other people. Liability doesn’t 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. You might see limits of 50/100/50 that means you have a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability can pay for claims such as structural damage, court costs, bail bonds, repair costs for stationary objects and legal defense fees. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

A tidy conclusion

As you go through the steps to switch your coverage, you should never skimp on critical coverages to save a buck or two. In many cases, an insured cut collision coverage and learned later that the small savings ended up costing them much more. The goal is to get the best coverage possible for the lowest cost while still protecting your assets.

Some insurance coverage companies may not have online price quotes and most of the time these smaller providers prefer to sell through independent agents. Cheaper insurance coverage is available online as well as from insurance agents, and you should be comparing both to have the best chance of lowering rates.

Additional information is located at the links below