2011 BMW X3 Insurance Quotes – 8 Savings Tips

Saving money on insurance coverage is kind of frustrating for beginners to online price comparisons. When there are so many companies, it can be more work than you anticipated to find better prices.

You should make it a habit to do rate comparisons before your policy renews since prices are adjusted regularly by insurance companies. Even if you got the best price on X3 insurance a couple years back you can probably find a lower rate today. There is a lot of bad information regarding insurance coverage online, but by reading this article, you’re going to learn a bunch of ideas how to save money.

If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using these tips. Finding affordable car insurance is not that difficult. But consumers benefit from understanding the way insurance companies market insurance on the web and apply this information to your search.

Quote insurance online

When comparison shopping, there are several ways to get quotes from companies that offer insurance in your state. The quickest method to do a complete rate comparison is simply to get online rate quotes. This can be done in several different ways.

  1. The first (and easiest) way to find low rates is an all-inclusive rate comparison click to view form in new window. This quick form eliminates the need for separate quotation requests for every company. One form submission compares rates direct from many companies. This is by far the quickest method.
  2. A harder way to shop for insurance online is spending the time to visit each company’s website and complete a new quote form. For example, we’ll pretend you want to get rates from Progressive, Safeco and Liberty Mutual. To find out each rate you need to go to every website and punch in your information repeatedly, which is why the first method is quicker. For a list of links to companies insuring cars in your area, click here.
  3. The hardest method to comparison shop rate quotes is calling or driving to and from local insurance agencies. The internet can eliminate the need for a local agent unless you want the professional abilities of a licensed agent. Drivers can compare the best prices online and still use a local agent.

However you get your quotes, make sure you are using the same quote information on every price quote you get. If you are comparing unequal deductibles or liability limits it will be next to impossible to decipher which rate is best. Just a small difference in coverage limits could mean much higher rates. And when price shopping your coverage, comparing more company’s prices increases the change that you will find the best offered rates. Some companies don’t provide online quotes, so you need to compare price estimates on coverage from those companies, too.

Why you might not save $461 a year

Respected companies like Allstate, Geico and Progressive regularly use ads in print and on television. All the ads tend to make the same promise that drivers can save some big amount after switching to their company. How does every company charge you a lower premium? This is the trick they use.

Insurance companies quote their best rates for the type of customer that is profitable for them. A good example of a desirable insured might be described as married and over the age of 30, has a clear driving record, and drives less than 7,500 miles a year. Any driver who fits those characteristics is entitled to the best price and therefore will save quite a bit of money when switching.

Potential customers who are not a match for these criteria will get more expensive rates which translates to the driver buying from a lower-cost company. The trick companies use is to say “drivers who switch” not “everybody who quotes” save the amount stated. That’s the way companies can truthfully claim big savings.

Because each company has a different risk profile, drivers must compare as many free insurance quotes as you can. It’s not possible to predict which company will have the lowest prices for your situation.

Take these eight policy discounts and save

Not too many consumers would say insurance is affordable, but there’s a good chance there are discounts that could help you make your next renewal payment. Larger premium reductions will be automatically applied at the time you complete a quote, but some need to be asked for before they will apply. If you aren’t receiving every discount you qualify for, you could be paying more than you need to.

  • Discount for Swiching Early – A few larger companies give discounts for buying a policy prior to the expiration date on your current policy. The savings is around 10%.
  • Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn a discounted rate on car insurance if you buy life insurance from them.
  • ABS Braking Discount – Cars that have anti-lock braking systems can avoid accidents so companies give up to a 10% discount.
  • Employee of Federal Government – Active or former government employment could provide a small rate reduction on X3 insurance but check with your company.
  • Low Miles Discount – Maintaining low annual mileage could be rewarded with lower premium rates due to less chance of an accident.
  • Multiple Vehicles – Purchasing coverage when you have several vehicles on the same insurance policy can get a discount for every vehicle.
  • Telematics Discount – Insureds that choose to allow driving data collection to scrutinize driving manner by using a telematics device like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if they exhibit good driving behavior.
  • Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to use a seat belt can save a little off the personal injury premium cost.

A quick disclaimer, most discount credits are not given to the overall cost of the policy. Most only apply to the price of certain insurance coverages like comprehensive or collision. Despite the appearance that all those discounts means the company will pay you, you’re out of luck.

Large insurance companies and some of their more popular discounts are included below.

  • State Farm has discounts for Steer Clear safe driver discount, defensive driving training, good student, passive restraint, accident-free, and driver’s education.
  • Nationwide has savings for business or organization, accident-free, good student, anti-theft, defensive driving, and Farm Bureau membership.
  • Geico may include discounts for anti-theft, multi-policy, defensive driver, five-year accident-free, multi-vehicle, membership and employees, and daytime running lights.
  • AAA offers discounts including anti-theft, good student, pay-in-full, AAA membership discount, and education and occupation.
  • 21st Century policyholders can earn discounts including theft prevention, defensive driver, automatic seat belts, driver training, student driver, and air bags.
  • The Hartford offers premium reductions for driver training, vehicle fuel type, air bag, bundle, good student, anti-theft, and defensive driver.

It’s a good idea to ask all companies you are considering which credits you are entitled to. All car insurance discounts may not apply in your area. To choose providers with the best insurance discounts, click this link.

Which policy gives me the best coverage?

When choosing coverage, there is no “perfect” insurance plan. Everyone’s situation is a little different.

Here are some questions about coverages that could help you determine if you could use an agent’s help.

  • Am I covered when driving someone else’s vehicle?
  • Should I buy additional glass protection?
  • How can I get high-risk coverage after a DUI?
  • When should I buy a commercial auto policy?
  • Is my custom paint covered by insurance?
  • Is my ex-spouse still covered by my policy?
  • What is the rate difference between pleasure use and commuting?
  • When should I remove comp and collision on my 2011 BMW X3?
  • Do I need added coverage for expensive stereo equipment?
  • Do I need medical payments coverage since I have good health insurance?

If you’re not sure about those questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form.

Educate yourself about car insurance coverages

Having a good grasp of your policy aids in choosing the right coverages for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Collision protection

Collision coverage covers damage to your X3 caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like sustaining damage from a pot hole, sideswiping another vehicle, colliding with a tree, hitting a mailbox and scraping a guard rail. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also raise the deductible to bring the cost down.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses for prosthetic devices, doctor visits and funeral costs. They are utilized in addition to your health insurance plan or if you do not have health coverage. It covers both the driver and occupants as well as being hit by a car walking across the street. PIP is not an option in every state and may carry a deductible

Auto liability

This protects you from injuries or damage you cause to a person or their property in an accident. It consists of 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 policy limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as loss of income, funeral expenses, medical services and pain and suffering. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as much as you can afford.

Uninsured Motorist or Underinsured Motorist insurance

This provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage should not be overlooked. Normally these coverages are set the same as your liablity limits.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like hitting a bird, theft, damage from flooding and rock chips in glass. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Summing up your insurance coverage search

When you buy insurance online, never skimp on coverage in order to save money. Too many times, consumers will sacrifice comprehensive coverage or liability limits and learned later that the savings was not a smart move. Your goal is to get the best coverage possible at the lowest possible cost.

Consumers leave their current company for any number of reasons including policy non-renewal, an unsatisfactory settlement offer, poor customer service or high prices. No matter why you want to switch, switching insurance coverage companies is actually quite simple.

Budget-friendly insurance coverage can be found both online as well as from independent agents, and you need to price shop both in order to have the best chance of saving money. Some insurance companies do not offer online quoting and most of the time these regional carriers prefer to sell through independent agencies.

More tips and info about insurance coverage can be found by following these links: