2014 MINI Cooper Coupe Insurance Cost

Are you irritated from trying to scrape together enough money to pay high insurance rates every month? You’re in the same situation as many other people.

Companies like State Farm and Geico all claim big savings with ad campaigns and consumers find it hard to sift through the bull and do the work needed to find the best deal.

If you currently have car insurance, you will be able to save some money using these tips. Choosing the best insurance company for you is easy if you know what you’re doing. But vehicle owners must understand the methods companies use to market insurance on the web because it can help you find the best coverage.

Find discounts on car insurance

Companies that sell car insurance don’t always list every available discount in a way that’s easy to find, so here is a list a few of the more well known as well as some of the hidden discounts that you may qualify for.

  • Driver Safety – Successfully completing a class that teaches defensive driving techniques could save 5% or more and also improve your driving technique.
  • Auto/Life Discount – If the company offers life insurance, you could get a lower premium rate if you buy a life policy as well.
  • Sign Early and Save – Some car insurance companies reward drivers for signing up prior to the expiration date on your current policy. This can save 10% or more.
  • Savings for New Vehicles – Buying a new car model can save up to 30% compared to insuring an older model.
  • Full Payment Discount – If you can afford to pay the entire bill rather than paying monthly you may have a lower total premium amount.
  • Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease for Cooper Coupe coverage with some car insurance companies.
  • Student Discount for Driver Training – Have your child sucessfully take a drivers education course as it can save substantially.

A little disclaimer on discounts, most credits do not apply to the entire cost. Some only reduce individual premiums such as comp or med pay. So when it seems like it’s possible to get free car insurance, companies wouldn’t make money that way.

Companies and their possible discounts are shown below.

  • American Family may include discounts for defensive driver, bundled insurance, good student, TimeAway discount, accident-free, and Steer into Savings.
  • State Farm includes discounts for good student, good driver, passive restraint, anti-theft, and multiple autos.
  • 21st Century has discounts for early bird, homeowners, driver training, defensive driver, and air bags.
  • Travelers may have discounts that include continuous insurance, home ownership, multi-policy, student away at school, and driver training.
  • Geico offers discounts including driver training, multi-vehicle, daytime running lights, five-year accident-free, emergency military deployment, and military active duty.

It’s a good idea to ask every company what discounts are available to you. Depending on the company, some discounts might not be offered on policies in your area. To see car insurance companies that can offer you the previously mentioned discounts, follow this link.

Insurance prices are influenced by these factors

Many factors are part of the equation when pricing auto insurance. Some factors are common sense such as your driving history, but other criteria are less apparent such as whether you are married or how financially stable you are.

The factors shown below are most of the major factors used by companies to determine prices.

  • Your liability limits – Your policy’s liability coverage kicks in in the event that a court rules you are at fault for causing personal injury or damage in an accident. It provides you with a defense in court which can cost thousands of dollars. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.
  • Your car’s features help determine insurance coverage rates – Driving a car with anti-theft technology or alarm system can help lower your rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping your vehicle from being stolen.
  • Safety ratings are a factor – Cars with five star safety ratings are cheaper to insure. Safe vehicles have better occupant injury protection and fewer injuries translates into fewer and smaller insurance claims and cheaper rates on your policy. If the MINI Cooper Coupe earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
  • Additional coverages that may be costing you – Policies have extra coverages that you can get tricked into buying if you don’t pay attention. Things like roadside assistance, towing, and motor club memberships could be just wasting money. They may sound like good ideas when discussing your needs, but your money might be better spent on other coverage so get rid of them and save.
  • Youthful drivers cost more – Beginning drivers have been known to get distracted easily behind the wheel and because of this, their insurance coverage rates are much higher. More mature drivers are more responsible, cause fewer claims and accidents and get fewer tickets.
  • Raise your comp and collision deductibles for better rates – Your deductibles state the amount of money you are willing to pay before your insurance coverage pays a claim. Insurance for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some instances where coverage would apply would be rearending another vehicle, fire damage, and having a roll-over accident. The more expense you choose to pay out-of-pocket, the lower your rates will be for Cooper Coupe coverage.
  • Premiums for men may be higher – Statistics have proven that men are more aggressive behind the wheel. Now that doesn’t mean men are WORSE drivers than women. Women and men are responsible for at-fault accidents at about the same rate, but the men cause more damage and cost insurance companies more money. Men also receive more costly citations such as DWI and reckless driving. Young males cause the most accidents so they pay the highest premiums.

Tailor your insurance coverage coverage to you

When choosing the right insurance coverage, there isn’t really a one size fits all plan. Every situation is different so your insurance needs to address that. For instance, these questions could help you determine whether your personal situation will benefit from professional help.

  • Where can I find DUI or SR-22 insurance?
  • When should I buy a commercial auto policy?
  • Is my teenager covered with friends in the car?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Should I drop comprehensive coverage on older vehicles?
  • Do I have newly-aquired coverage?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • How much can I save by bundling my policies?

If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Coverages available on your policy

Learning about specific coverages of a insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. These are typical coverages available from insurance companies.

Auto liability – This coverage protects you from injuries or damage you cause to other people or property by causing an accident. It protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers things such as legal defense fees, loss of income, funeral expenses, pain and suffering and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive insurance – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as hitting a bird, vandalism and damage from a tornado or hurricane. The maximum payout your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage provide coverage for short-term medical expenses for hospital visits, dental work and chiropractic care. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants as well as getting struck while a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverages – This coverage will pay to fix damage to your Cooper Coupe resulting from a collision with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as colliding with another moving vehicle, crashing into a ditch and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection when other motorists are uninsured or don’t have enough coverage. Covered losses include 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 doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.

More quotes mean more savings

You just learned a lot of ways to save on 2014 MINI Cooper Coupe insurance. The most important thing to understand is the more times you quote, the better chance you’ll have of finding low cost insurance coverage. You may be surprised to find that the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising. Some small companies may only write in your state and offer lower prices than the large multi-state companies such as State Farm and Allstate.

When searching for the cheapest insurance coverage quotes, it’s not a good idea to skimp on coverage in order to save money. There are many occasions where consumers will sacrifice liability limits or collision coverage to discover at claim time that the small savings ended up costing them much more. Your objective should be to buy enough coverage at an affordable rate, not the least amount of coverage.

Additional information can be read at the links below