2012 BMW 1 Series Car Insurance Rates – 8 Tips for Cheaper Quotes

Want cheaper car insurance rates for your BMW 1 Series? No car owner rejoices having to buy car insurance, especially when they are aware that the prices are way too high.

People have multiple insurance companies to insure vehicles with, and although it’s nice to be able to choose, more options can take longer to get the best deal.

Smart consumers take time to get comparison quotes occasionally because car insurance prices go up and down regularly. Just because you had the best quotes on 1 Series insurance two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about car insurance because you’re going to learn one of the quickest ways to lower your annual insurance bill.

Don’t overlook these eight car insurance discounts

Some companies don’t list every disount available in a way that’s easy to find, so the below list has some of the more common as well as some of the hidden car insurance savings.

  • Senior Citizens – Older drivers could receive lower premium rates on 1 Series insurance.
  • Good Student Discount – Maintaining excellent grades can be rewarded with saving of up to 25%. Most companies allow this discount up to age 25.
  • Life Insurance – Some companies give a lower rate if you buy some life insurance too.
  • Organization Discounts – Affiliation with specific professional or occupational memberships or organizations may earn a discount on your next car insurance statement.
  • Cautious Driver Discount – Safe drivers could pay up to 40% less on 1 Series insurance compared to accident prone drivers.
  • Distant Student – Children who attend college more than 100 miles from home and don’t have a car may be able to be covered for less.
  • Safety Restraint Discount – Drivers who require all vehicle occupants to fasten their seat belts can save a little off PIP or medical payments premium.
  • Paperless Signup – Some of the larger companies will give you a small discount shop insurance online.

A little disclaimer on discounts, some of the credits will not apply to the entire cost. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, it just doesn’t work that way.

To locate providers that have a full spectrum of discounts, click here.

Compare auto insurance rates

When comparison shopping, there are several ways to get quotes from all the different companies. By far the easiest way to find the lowest 2012 BMW 1 Series rates is to jump online and get quotes. It is quite easy and can be accomplished in several different ways.

  1. Without a doubt, the easiest way to find the lowest comparison rates is to use a rate comparison form like this one (opens in new window). This style of form saves time by eliminating separate forms for every company. In just a few minutes this one form will get you price quotes from several companies.
  2. A harder way to shop for auto insurance online is to take the time to go to each individual company website and fill out a new quote form. For example, let’s say you want to compare prices for Allstate, 21st Century and Liberty Mutual. To get each rate you have to go to each individual site and type in your information over and over, which is not fast way to get rate quotes. For a list of links to companies insuring cars in your area, click here.

Whichever way you choose to compare rates, make sure you are using apples-to-apples coverage information with each company. If you use unequal deductibles or liability limits it will be nearly impossible to determine which company has the best rates. Quoting even small variations in insurance coverages or limits may result in a large different in cost. And when comparison shopping, comparing a large number of companies increases your odds of finding a lower rate. Not every company allows you to get rate quotes online, so you should also compare price estimates from them, too.

When to get professional advice

When it comes to buying adequate coverage for your vehicles, there is no cookie cutter policy. Everyone’s needs are different so your insurance should reflect that These are some specific questions might point out whether or not you would benefit from professional advice.

  • Can I make deliveries for my home business?
  • Where can I find high-risk insurance?
  • Why am I required to buy high-risk coverage?
  • Is extra glass coverage worth it?
  • Is my trailer covered?
  • Does my liability insurance cover pulling a trailer or camper?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Should I waive the damage coverage when renting a car?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.

Insurance advertisements

Insurance providers like State Farm, Allstate and Geico continually stream television and radio advertisements. All the ads say the same thing about savings if you change your coverage. How is it possible that every company can give you a better price? Here is how they do it.

Different companies quote the lowest rates for the right customer that will most likely be profitable. An example of this type of insured might be between the ages of 40 and 55, has other policies, and does not commute to work. Anybody that matches those criteria will probably get cheap premium rates and as a result will probably save quite a bit of money when switching.

Insureds who are not a match for these stringent criteria will have to pay a more expensive rate and ends up with the customer not purchasing. If you listen closely, the ads state “people that switch” not “everybody who quotes” save that kind of money. This is how companies can truthfully advertise the way they do.

Because of this risk profiling, you absolutely need to quote coverage with many companies. Because you cannot predict with any certainty which company will have the lowest rates.

Insurance coverages 101

Knowing the specifics of insurance aids in choosing the right coverages at the best deductibles and correct limits. Insurance terms can be difficult to understand and coverage can change by endorsement. Below you’ll find typical coverage types offered by insurance companies.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills such as prosthetic devices, chiropractic care, X-ray expenses, dental work and doctor visits. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Liability coverages

This coverage can cover injuries or damage you cause to other’s property or people in an accident. It protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Occasionally you may see one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things such as repair bills for other people’s vehicles, pain and suffering, court costs, structural damage and attorney fees. How much coverage you buy is up to you, but consider buying as high a limit as you can afford.

UM/UIM Coverage

This provides protection from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your BMW 1 Series.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision coverage

This will pay to fix damage to your 1 Series caused by collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like scraping a guard rail, colliding with a tree, hitting a parking meter, rolling your car and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Comprehensive or Other Than Collision

This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like falling objects, theft, damage from a tornado or hurricane and rock chips in glass. The most a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

More effort can pay off

Budget-conscious 2012 BMW 1 Series insurance can be found on the web as well as from independent agents, and you should compare price quotes from both to have the best chance of lowering rates. Some companies may not provide rates over the internet and most of the time these regional insurance providers prefer to sell through local independent agents.

When searching for low cost insurance quotes, don’t be tempted to reduce coverage to reduce premium. There are a lot of situations where consumers will sacrifice uninsured motorist or liability limits and learned later that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.

Helpful articles