Cheap 2008 BMW 7 Series Car Insurance Rates

Searching for low-cost insurance for a BMW 7 Series can be difficult, but you can learn the following methods to make it easier. There are more efficient ways to compare insurance rates so we’re going to tell you the quickest way to compare rates on a BMW and get the lowest possible price from both online companies and local agents.

Buying car insurance is easy if you know what you’re doing. If you are insured now or are just looking to switch companies, you can follow these tips to get lower rates and still get good coverage. Drivers just need to know the most efficient way to compare price quotes online.

The quickest method we recommend to compare insurance rates in your area is to know the fact most of the larger companies provide online access to give rate comparisons. All consumers are required to do is spend a couple of minutes providing details such as whether you are single or married, whether you drive to work or school, coverage limits, and if the car is leased. Your details is instantly provided to insurance carriers in your area and you should receive rate quotes instantly.

To start a quote now, click here and find out if lower rates are available.

You may qualify for discounts

Companies offering auto insurance don’t list every discount they offer in an easy-to-find place, so below is a list some of the more common and the more hidden credits available to bring down your rates.

Club Memberships – Affiliation with qualifying clubs or civic groups could earn you a nice discount on your next auto insurance statement.
Early Signing – A few insurance companies give discounts for renewing your policy early. This can save 10% or more.
Discounts for Federal Employees – Active or retired federal employment could cut as much as 10% off on 7 Series insurance with some auto insurance companies.
Low Mileage Discounts – Driving less may enable drivers to earn slightly better rates than normal.
Anti-theft System – Cars equipped with anti-theft or alarm systems can help prevent theft and can earn a small discount on your policy.
Military Discounts – Being deployed in the military may qualify for rate reductions.
Senior Citizens – If you qualify as a senior citizen, you may be able to get a discount up to 10% on 7 Series insurance.
Drivers Education – Reduce the cost of insurance for teen drivers by having them enroll and complete driver’s education in high school.

It’s important to understand that some of the credits will not apply to the entire cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. If you do the math and it seems like adding up those discounts means a free policy, nobody gets a free ride.

If you would like to choose from a list of insurers that have a full spectrum of discounts, click here.

Get more affordable insurance premiums by understanding these factors

A large part of saving on insurance is knowing the different types of things that help calculate your policy premiums. If you have some idea of what determines base rates, this empowers consumers to make smart changes that may result in much lower annual insurance costs. Many different elements are used in the calculation when premium rates are determined. Some are obvious like your driving record, although others are not as apparent like where you live and annual miles driven.

Bump up comp and collision deductibles to lower rates – Physical damage deductibles define the amount you are required to pay in the event of a claim. Insurance for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims could be a windshield broken by a bird, fire damage, and damage caused by road hazards. The larger the amount you pay before a claim is paid (deductible), the less money you will pay for insurance on 7 Series insurance.
High claims frequency drives up prices – If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Car insurance companies generally give lower rates to people who do not rely on their insurance for small claims. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
Your stress level may be raising your rates – Did you know your insurance rates can be affected by your occupation? Occupations such as doctors, business owners and miners are shown to have higher average rates in part from intense work requirements and lots of time spent at work. On the flip side, careers such as farmers, athletes and retirees have lower than average premiums on 7 Series insurance.
Gender impacts prices – Statistics have proven females are less aggressive when driving. This data doesn’t prove that men are worse drivers. Men and women are in accidents at a similar rate, but the male of the species tend to have higher claims. In addition to higher claims, males also get ticketed for serious violations like DWI (DUI) or reckless driving.
Never let your coverage expire – Not having insurance is a big no-no and insurance companies will penalize you for letting your insurance lapse. Not only will you pay more, failure to provide proof of insurance could result in a license revocation or jail time.
Small coverages can add up – There are many add-on coverages that you can get tricked into buying if you aren’t careful. Insurance for vanishing deductibles, high-cost glass coverage, and membership fees are some examples. These coverages may sound good when discussing your needs, but now you might not need them so eliminate the coverages to reduce your premium.
Improve your credit rating and save – Credit score is likely to be a major factor in determining what you pay. If your credit rating could use some work, you could pay less to insure your 2008 BMW 7 Series if you clean up your credit. People with very good credit scores tend to be more responsible and file fewer claims as compared to drivers with bad credit.

There’s no such thing as the perfect insurance coverage policy

When it comes to choosing the best insurance coverage coverage for your personal vehicles, there really is no perfect coverage plan. Every situation is different.

For example, these questions might point out if you would benefit from professional advice.

Does my insurance cover a custom paint job?
Is my teen driver covered when they drive my company car?
Are split liability limits better than a combined single limit?
Should I buy more coverage than the required minimum liability coverage?
Can I afford low physical damage deductibles?
If my 2008 BMW 7 Series is totaled, can I afford another vehicle?
Which companies will insure high-risk drivers?
What discounts do I qualify for?
Am I covered if hit by an uninsured driver?
Who is covered by my policy?

If you can’t answer these questions then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, free and can help protect your family.

Car insurance 101

Knowing the specifics of car insurance can help you determine the best coverages for your vehicles. Policy terminology can be impossible to understand and coverage can change by endorsement.

UM/UIM Coverage

This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as damage to your BMW 7 Series.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.

Collision coverage protection

Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as backing into a parked car, colliding with a tree and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Liability coverages

This can cover damage that occurs to other people or property. It protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 50/100/50 which means a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims like bail bonds, funeral expenses, attorney fees, repair costs for stationary objects and legal defense fees. How much liability should you purchase? That is up to you, but you should buy higher limits if possible.

Comprehensive or Other Than Collision

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as theft, damage from a tornado or hurricane, hail damage, hitting a bird and damage from flooding. The maximum amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage pay for bills for ambulance fees, dental work, funeral costs, prosthetic devices and nursing services. They are used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states and may carry a deductible

Be a penny pincher

Consumers switch companies for a number of reasons such as questionable increases in premium, delays in paying claims, policy non-renewal or even high prices. Regardless of your reason for switching companies, choosing a new insurance company is not as difficult as it may seem.

A few companies may not provide the ability to get quotes online regional insurance providers only sell coverage through independent agents. More affordable insurance coverage is available from both online companies as well as from insurance agents, so you need to compare both in order to have the best price selection to choose from.

As you go through the steps to switch your coverage, never buy lower coverage limits just to save a few bucks. There have been many situations where an accident victim reduced comprehensive coverage or liability limits and found out when filing a claim that it was a big error on their part. Your goal is to find the BEST coverage for the lowest price, but do not skimp to save money.