2010 BMW 7 Series Insurance Quotes

Feeling guilty for buying an overpriced insurance coverage policy? You’re in good company because there are many people just like you.

Drivers have so many auto insurance companies to choose from, and although it’s a good thing to have a choice, it makes it harder to find a good deal.

It’s important to compare premium rates occasionally because insurance prices trend upward over time. Just because you found the lowest rates for 7 Series coverage six months ago there may be better deals available now. Ignore everything you know about insurance coverage because we’re going to demonstrate how to quote online to eliminate unnecessary coverages and save money.

The purpose of this post is to teach you the best way to quote coverages and some money-saving tips. If you have car insurance now, you will be able to save some money using this information. But car owners must understand how companies price online insurance.

Compare car insurance quotes online

To get inexpensive insurance coverage quotes, there a variety of ways to compare rate quotes from car insurance companies in your area. The fastest way to compare rates consists of shopping online. This can be done in just a few minutes using one of these methods.

  1. One of the fastest ways to find low rates is an all-inclusive rate comparison like this one (opens in new window). This easy form prevents you from having to do separate quotation requests for every company. One form gets prices estimates from all major companies.
  2. A slightly less efficient method to obtain and compare quotes online requires a visit to the website of each company and fill out a new quote form. For examples sake, let’s say you want to view quotes from Auto-Owners, State Farm and Farmers. To get rate quotes you would need to spend time on each company’s site and type in your information over and over, and that explains why we recommend the first method. For a list of companies in your area, click here.
  3. If you have time to kill, the last method to find and compare rates is going to insurance agencies in your area. Doing it all online eliminates the middleman unless you want the professional abilities that only an agent can give. Although you can compare the best prices online and have a local agent actually service the policy.

Compare rates however you want, just ensure you are comparing equivalent deductibles and coverage limits for every company. If you are comparing different deductibles it will be nearly impossible to get a fair rate comparison. Quoting even small variations in coverages could mean much higher rates. And when price shopping your coverage, comparing more rates from different companies will enable you to find a lower rate than you’re paying now.

These discounts can lower your insurance coverage quotes

Car insurance is not cheap, but you may find discounts to help bring down the price. Many discounts should be triggered at the time you complete a quote, but some must be specially asked for in order for you to get them. If you do not double check each discount you qualify for, you could be saving more on your insurance coverage.

  • Drivers Education – Teen drivers should take driver’s ed class in high school.
  • Multi-policy Discount – When you have multiple policies and place coverage with the same company you could get a discount of up to 20% off your total premium.
  • Online Discount – Certain insurance companies provide a small discount for buying a policy and signing up on the web.
  • Low Miles Discount – Maintaining low annual mileage may enable drivers to earn lower insurance coveragerates on the low mileage vehicles.
  • Student in College – Older children who are enrolled in higher education away from home and do not have access to a covered vehicle could get you a discount.

Just know that most of the big mark downs will not be given to all coverage premiums. Most only apply to specific coverage prices like collision or personal injury protection. Despite the fact that it seems like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

A few popular companies and some of the discounts are:

  • State Farm has savings for passive restraint, good student, good driver, Steer Clear safe driver discount, Drive Safe & Save, and driver’s education.
  • Geico discounts include driver training, five-year accident-free, federal employee, defensive driver, multi-policy, anti-theft, and emergency military deployment.
  • Allstate may offer discounts for early signing, defensive driver, economy car, utility vehicle, and passive restraint.
  • SAFECO may include discounts for teen safety rewards, teen safe driver, accident prevention training, bundle discounts, safe driver, and multi-car.
  • Farm Bureau has discounts for driver training, renewal discount, multi-vehicle, 55 and retired, good student, and safe driver.
  • Progressive offers premium reductions for multi-policy, homeowner, online signing, continuous coverage, online quote discount, multi-vehicle, and good student.
  • AAA offers discounts including multi-car, AAA membership discount, good student, education and occupation, and pay-in-full.

When comparing rates, check with all the companies which discounts they offer. Some discounts might not be available to policyholders in your area. To view insurance companies offering insurance coverage discounts, click here.

Four tips to get more affordable insurance rates

The best way to find cheaper insurance coverage is to take a look at some of the elements that are used to determine your premiums. When consumers understand what impacts premium levels, this enables informed choices that could help you find cheaper rates. Lots of factors are taken into consideration when pricing auto insurance. Some are obvious such as your driving record, although others are not quite as obvious such as your credit history or your financial responsibility.

  • Do you really need roadside assistance? – There are a ton of extra coverages that can waste your money but may not be useful. Coverages like coverage for rental cars, accident forgiveness, and motor club memberships may be wasting your money. They may seem like a good idea when buying your policy, but your money might be better spent on other coverage so remove them from your policy.
  • Prevent your car from being stolen – Buying a car that has a built-in theft deterrent system can earn a premium discount. Systems that thwart theives such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your vehicle from being stolen.
  • Cars with good safety ratings means better insurance coverage rates – Cars with five star safety ratings get lower rates. The safest vehicles reduce injuries and fewer serious injuries means lower claim amounts and cheaper rates on your policy.
  • Rate your vehicle for proper use – The more miles you rack up on your BMW in a year the more it will cost to insure it. Most insurance companies charge to insure your cars based on how the vehicle is used. Autos not used for work or commuting qualify for better rates than cars that get driven a lot. A policy that improperly rates your 7 Series can result in significantly higher rates. It’s a good idea to make sure your vehicle rating is rated on the proper vehicle usage, because it can save money.

Different people need different auto insurance coverages

When buying adequate coverage, there really is not a “perfect” insurance plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions might help in determining if you would benefit from professional advice.

  • Does my car insurance cover rental cars?
  • Is upholstery damage covered by car insurance?
  • When would I need rental car insurance?
  • Is business equipment covered while in my vehicle?
  • When should I remove comp and collision on my 2010 BMW 7 Series?
  • Is my state a no-fault state?
  • Are rock chip repairs covered?
  • If my pet gets injured in an accident are they covered?
  • When should I buy a commercial auto policy?
  • Does my personal policy cover me when driving out-of-state?

If you can’t answer these questions but a few of them apply, you might consider talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

But they said I’d save $434 a year!

Big name companies like 21st Century, Allstate and State Farm constantly bombard you with ads in print and on television. All the companies advertise the message that drivers will save a bundle just by moving your car insurance policy to them. It sounds good, but how can they all give you a lower rate? It’s all in the words they use.

Car insurance companies have a certain “appetite” for the type of driver that earns them the most money. For instance, a profitable customer may need to be between the ages of 30 and 45, has never had a claim, and insures a new vehicle. A customer that fits those parameters will most likely get cheap auto insurance rates and therefore will save if they switch.

Insureds who don’t qualify for those criteria must pay higher premiums which usually ends up with the prospect going elsewhere. If you listen to the ad wording, they say “people that switch” but not “everyone who gets a quote” save the amount stated. This is how insurance companies can advertise the savings.

Because of the profiling, it’s extremely important to compare quotes as often as possible. Because you never know which insurance companies will give you the biggest savings.

Car insurance coverages and their meanings

Understanding the coverages of your policy can help you determine the right coverages and the correct deductibles and limits. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording. Shown next are the normal coverages available from car insurance companies.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP kick in for short-term medical expenses for things like EMT expenses, pain medications, dental work, nursing services and funeral costs. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

Collision insurance will pay to fix damage to your 7 Series resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as driving through your garage door, hitting a mailbox and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Comprehensive auto coverage

This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as damage from getting keyed, fire damage and falling objects. The highest amount your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This gives you protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Auto liability

Liability insurance will cover injuries or damage you cause to people or other property. It protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/25 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.

Liability insurance covers claims such as emergency aid, structural damage, loss of income, legal defense fees and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but consider buying as high a limit as you can afford.

Make an honest buck

We just presented many tips how you can save on 2010 BMW 7 Series insurance. The key concept to understand is the more companies you get prices for, the better chance you’ll have of finding the cheapest insurance coverage. You may even discover the lowest premium rates come from a smaller regional carrier. Some small companies can often provide lower prices in certain areas compared to the large companies like Allstate or State Farm.

When trying to cut insurance costs, you should never buy poor coverage just to save money. There are many occasions where drivers have reduced collision coverage only to discover later that they should have had better coverage. The goal is to buy enough coverage for the lowest price, but do not sacrifice coverage to save money.

Additional detailed information can be found in the articles below: