2016 BMW i8 Insurance Quotes

Feel like you have overpriced auto insurance? Say no more because you are not the only one feeling buyer’s remorse.

Because there are so many insurance providers from which to choose, it can be challenging to choose the most affordable auto insurance company.

Free auto insurance quotes

To find the best auto insurance rates, there are several ways to compare rate quotes from companies that offer auto insurance in your state. The simplest method to do a complete rate comparison is to use the internet to compare rates. This can be accomplished in several different ways.

  1. The most recommended method consumers can make multiple comparisons is to use a rate comparison form click to view form in new window. This easy form keeps you from doing separate quote forms for every auto insurance company. Completing one form will get you price quotes from multiple low-cost companies.
  2. A more time consuming way to compare prices is spending the time to visit the website for each individual company and go through the quote process again. For instance, let’s say you need rates from Liberty Mutual, Farmers and Travelers. In order to compare rates, you need to visit each site to enter your coverage information, which is why the first method is more popular.

    For a list of links to companies insuring cars in your area, click here.

  3. The final method to get price estimates is going to insurance agents’ offices. Comparing rates online has reduced the need for local agents unless you require the extra assistance that can only be provided by a licensed insurance agent. Although, it is possible comparison shop your insurance online and get advice from an agent in your area.

The approach you take is up to you, just compare the same deductibles and coverage limits with each company. If you have different limits and deductibles on each one it will be nearly impossible to find the best deal for your BMW i8. Quoting even small variations in limits can mean a large discrepancy in price. Just remember that comparing more rates from different companies increases the change that you will find better pricing. Some insurance companies are not set up to provide online rate quotes, so it’s important to compare price quotes from those companies as well.

Get affordable insurance coverage rates with discounts

Not too many consumers would say insurance coverage is affordable, but discounts can save money and there are some available that many people don’t even know exist. Some of these disounts will be visible at the time of purchase, but less common discounts must be asked about in order for you to get them.

  • No Claim Discounts – Good drivers with no accidents get the best insurance coverage rates as compared to bad drivers.
  • Discount for Multiple Policies – If you combine your auto and home policies with the same company you could save up to 20% off your total premium.
  • Multi-car Discount – Buying a policy with multiple cars on one policy could earn a price break for each car.
  • Save with a New Car – Insuring a vehicle that is new can save you some money since newer vehicles have better safety ratings.
  • Senior Citizen Rates – Mature drivers may qualify for a slight reduction on a auto insurance quote on i8 insurance.

As a footnote on discounts, some credits don’t apply to all coverage premiums. Most only apply to the price of certain insurance coverages like comp or med pay. Even though it may seem like having all the discounts means you get insurance for free, it’s just not the way it works.

Popular insurance coverage companies and a partial list of their discounts are outlined below.

  • 21st Century discounts include theft prevention, teen driver, 55 and older, student driver, air bags, driver training, and good student.
  • Progressive includes discounts for homeowner, continuous coverage, online signing, multi-policy, and good student.
  • State Farm offers premium reductions for defensive driving training, multiple autos, Steer Clear safe driver discount, driver’s education, anti-theft, and accident-free.
  • Nationwide has discounts for good student, defensive driving, accident-free, family plan, business or organization, Farm Bureau membership, and multi-policy.
  • Esurance offers discounts including emergency road assistance, multi-car, Switch & Save, safety device, and paid-in-full.
  • The Hartford may include discounts for defensive driver, vehicle fuel type, good student, anti-theft, air bag, and driver training.

It’s a good idea to ask all companies you are considering which credits you are entitled to. Depending on the company, some discounts may not apply in your area. To see insurance companies that offer discounts, click here.

Tailor your insurance coverage to you

When it comes to buying the best insurance coverage, there isn’t really a perfect coverage plan. Everyone’s needs are different so your insurance should reflect that For instance, these questions can help discover if you may require specific advice.

  • Should I buy more coverage than the required minimum liability coverage?
  • Am I covered when pulling a rental trailer?
  • Am I covered if I crash into my own garage door?
  • Can my teen driver be rated on a liability-only vehicle?
  • Exactly who is provided coverage by my policy?
  • Does medical payments coverage apply to all occupants?
  • Does coverage extend to a rental car in a foreign country?

If it’s difficult to answer those questions, you may need to chat with an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area.

Insurance coverage breakdown

Knowing the specifics of your policy can help you determine the best coverages for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are the normal coverages found on most insurance policies.

Comprehensive auto coverage – Comprehensive insurance covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like rock chips in glass, fire damage, hitting a deer, a tree branch falling on your vehicle and a broken windshield. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Auto liability – Liability coverage can cover injuries or damage you cause to people or other property in an accident. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.

Liability insurance covers things like emergency aid, medical expenses, loss of income and legal defense fees. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible.

Medical payments and PIP coverage – Med pay and PIP coverage kick in for bills for things like dental work, X-ray expenses, EMT expenses and surgery. The coverages can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Collision – Collision coverage pays for damage to your i8 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as hitting a mailbox, rolling your car and crashing into a building. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family and damage to your BMW i8.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea.