2016 BMW 3 Series eDrive Car Insurance Cost – 6 Policy Discounts

Trying to find lower auto insurance rates for your BMW 3 Series eDrive? Did a good deal turn out to be an expensive auto insurance policy? Say no more because many drivers have buyer’s remorse. Lots of car insurance companies contend for your insurance dollar, and because of this it can be hard to compare insurers and get the best coverage at the best rate

It’s a great practice to compare premium rates at least once a year because prices are rarely the same from one policy term to another. Even if you got the lowest rates for 3 Series eDrive insurance six months ago you can probably find a lower rate today. There is a lot of bad information regarding auto insurance out there, but we’re going to give you a bunch of ideas how to slash your auto insurance rates.

Buy insurance coverage online

Lowering your 2016 BMW 3 Series eDrive insurance coverage rates is surprisingly easy. You just have to invest a few minutes to get quotes from online providers. It’s super easy and can be done in just a few minutes using one of these methods.

Probably the best way to get quotes for comparison is a comparison rater form click to view form in new window. This form saves time by eliminating separate quotation requests for each company. One form submission gets rate comparisons from multiple companies.

A different way to obtain and compare quotes online requires you to visit each individual company website to complete their respective quote request forms. For examples sake, let’s say you need rates from Geico, Liberty Mutual and Farmers. To find out each rate you need to navigate to each company’s site to input your insurance information, which can get rather old. To view a list of companies in your area, click here.

Which method you use is up to you, but be sure to compare apples-to-apples deductibles and coverage limits with every price quote. If you enter different deductibles it’s not possible to make an equal comparison.

The ad said I’d save $461 a year!

Consumers can’t escape the ads that claim the cheapest prices by Progressive, Allstate and Geico. They all seem to make the promise that people will save if you change your insurance coverage policy to them.

It sounds good, but how can they all charge lower premium rates? It’s all in the wording.

Most companies have strict underwriting profiles for the type of driver that earns them the highest profit. One example of a profitable customer could possibly be between the ages of 40 and 55, carries high limits, and insures a new vehicle. A driver that fits those parameters may get the lowest rates as well as save a lot of money.

Consumers who are not a match for these standards will probably be forced to pay a more expensive rate which results in the customer buying from a different company. The ad wording is “people who switch” not “everybody who quotes” save that much. That is how companies can lure you into getting a quote.

Different companies use different criteria so you should get insurance coverage quotes from several different companies. It is impossible to guess with any certainty which company will have the lowest rates.

Find hidden discounts on insurance coverage

Companies offering auto insurance do not advertise every discount very clearly, so the following is a list of both well-publicized and also the lesser-known credits available to bring down your rates. If they aren’t giving you every credit possible, you are not getting the best rate possible.

  • Telematics Devices – People who choose to allow driving data submission to analyze driving habits remotely such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if their driving habits are good.
  • Theft Deterent – Cars equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and will save you 10% or more.
  • Distant Student Discount – Children who live away from home at college and won’t have access to an insured vehicle may be able to be covered for less.
  • Driver Education Discount – Have your child successfully complete driver’s ed class as it will make them better drivers and lower rates.
  • First Accident Forgiveness – Not necessarily a discount, but a few companies such as Allstate and Progressive allow you one accident before your rates go up if you have no claims for a particular time prior to the accident.
  • Lower Rates for Military – Being deployed with a military unit can result in better insurance coverage rates.

You can save money using discounts, but most discount credits are not given to the entire policy premium. Most only apply to individual premiums such as physical damage coverage or medical payments. So even though it sounds like all those discounts means the company will pay you, companies wouldn’t make money that way.

Larger insurance coverage companies and their possible discounts can be read below.

  • Geico offers premium reductions for military active duty, good student, multi-vehicle, daytime running lights, emergency military deployment, anti-theft, and anti-lock brakes.
  • USAA has savings for family discount, loyalty savings, multi-policy, military installation, defensive driver, good student, and driver training.
  • Progressive may offer discounts for continuous coverage, homeowner, multi-vehicle, online quote discount, good student, online signing, and multi-policy.
  • American Family has discounts for defensive driver, bundled insurance, accident-free, mySafetyValet, and early bird.
  • Esurance policyholders can earn discounts including anti-theft, DriveSense, paid-in-full, Switch & Save, online quote, good driver, and defensive driver.
  • Farmers Insurance discounts include good student, electronic funds transfer, business and professional, multi-car, pay in full, and bundle discounts.
  • State Farm includes discounts for passive restraint, multiple policy, good student, driver’s education, student away at school, and good driver.

When getting a coverage quote, ask all the companies which discounts they offer. All car insurance discounts might not be available to policyholders everywhere. To locate providers that can offer you the previously mentioned discounts, follow this link.

Tailor your insurance coverage coverage to you

When it comes to buying coverage, there really is no perfect coverage plan. Every situation is different so this has to be addressed. Here are some questions about coverages that may help highlight if your situation would benefit from an agent’s advice.

  • When does my teenage driver need to be added to my policy?
  • What happens if I owe more than my 2016 BMW 3 Series eDrive is worth?
  • Is my ex-spouse still covered by my policy?
  • Can I still get insurance after a DUI?
  • When can I cancel my policy?
  • How high should deductibles be on a 2016 BMW 3 Series eDrive?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and you can get the answers you need.

Coverages available on your policy

Understanding the coverages of insurance helps when choosing appropriate coverage and the correct deductibles and limits. Insurance terms can be ambiguous and reading a policy is terribly boring. These are typical coverage types found on the average insurance policy.

Liability coverage – This can cover damages or injuries you inflict on other people or property that is your fault. Liability coverage has 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 liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things such as emergency aid, structural damage, repair costs for stationary objects and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and damage to your 2016 BMW 3 Series eDrive.

Because many people 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 should not be overlooked. Most of the time the UM/UIM limits are set the same as your liablity limits.

Collision – This coverage covers damage to your 3 Series eDrive caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers claims such as backing into a parked car, colliding with a tree, hitting a parking meter, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for things like pain medications, EMT expenses, ambulance fees, surgery and doctor visits. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants as well as getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive insurance – This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims such as damage from flooding, vandalism and damage from a tornado or hurricane. The most your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Be a money saver!

We just showed you many tips how you can shop for 2016 BMW 3 Series eDrive insurance online. It’s most important to understand that the more rate comparisons you have, the higher the chance of saving money. You may even discover the lowest rates come from an unexpected company. Some small companies may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as Allstate or State Farm.

When searching for inexpensive insurance coverage quotes, never reduce coverage to reduce premium. In many instances, someone sacrificed liability coverage limits and learned later that it was a big error on their part. Your focus should be to find the BEST coverage for the lowest cost while still protecting your assets.

More detailed insurance coverage information is available at these sites: