2016 BMW X1 Insurance Cost

Consumers have many options when looking for low-cost BMW X1 insurance. They can either spend hours driving around to compare prices or utilize the internet to compare rates. There is a better way to shop for auto insurance so you’re going to learn the absolute fastest way to compare rates on a BMW and obtain the lowest price from local insurance agents and online providers.

Use discounts to get cheaper car insurance rates

Companies that sell car insurance do not list every available discount in an easy-to-find place, so below is a list both well-publicized as well as some of the hidden discounts that you may qualify for.

  • Low Miles Discount – Driving fewer miles could qualify for lower car insurancerates on the low mileage vehicles.
  • Renewal Discounts – Some insurance companies provide a discount for buying a new policy before your current policy expires. Ten percent is about the average savings.
  • ABS Braking Discount – Cars and trucks with ABS braking systems or traction control are safer to drive so you can save 10 percent or more.
  • College Student – Children who are enrolled in higher education away from home and do not have a car may be insured at a cheaper rate.
  • Multi-policy Discount – When you have multiple policies and insure them both with the same insurance company you may save as much as 10 to 15 percent.
  • Discount for Passive Restraints – Factory air bags or automatic seat belts can qualify for discounts of 25 to 30%.
  • No Charge for an Accident – This one is not really a discount per se, but certain companies allow you one accident before your rates go up if you have no claims for a particular time prior to the accident.
  • Membership in Organizations – Being in qualifying clubs or civic groups could qualify you for a break on your next car insurance statement.
  • Own a Home and Save – Just being a homeowner can save you money since home ownership is proof that your finances are in order.
  • More Vehicles More Savings – Buying insurance for multiple vehicles on one policy could earn a price break for each car.

Discounts save money, but please remember that many deductions do not apply to your bottom line cost. Most only apply to individual premiums such as liability, collision or medical payments. Even though the math looks like it’s possible to get free car insurance, you aren’t that lucky.

For a list of insurance companies that offer multiple discounts, click this link.

The quickest method to compare insurance rates in your area is to know the trick most larger insurance companies allow for online access to compare rate quotes. The only thing you need to do is give the companies some data such as coverage limits, if you are currently licensed, how much education you have, and what you do for a living. The data is submitted instantly to multiple top-rated companies and you receive quotes instantly.

Why you might pay higher rates

An important part of buying insurance is that you know a few of the rating criteria that play a part in calculating the level of your policy premiums. When consumers understand what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in lower rates.

Listed below are most of the major factors that factor into your rate level.

  • Do you know your physical damage deductibles? – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, helps pay for damage to your vehicle. Some coverage claims are a broken side mirror, vandalism, and windstorm damage. Physical damage deductibles represent how much money you are required to pay before a claim is paid by your company. The more expense you pay before a claim is paid (deductible), the less your car insurance will be for X1 coverage.
  • Lower rates with theft deterrents – Choosing a vehicle with a theft deterrent system can help bring down rates. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder vehicle theft.
  • Do you save by driving less? – The more miles you rack up on your BMW in a year’s time the more you’ll pay to insure your vehicle. Most companies calculate prices based upon how you use the vehicle. Autos that do not get driven very much get more affordable rates than those that get driven frequently. A policy that improperly rates your X1 is just wasting money. It’s a good idea to make sure your declarations sheet reflects the right rating data.
  • Gender and car insurance rates – Statistics have proven that females tend to be a little less risky than males. That doesn’t necessarily mean that women are BETTER drivers than men. They both cause accidents in similar numbers, but males cause more damage. Not only are claims higher, but men receive more major tickets like DUI and reckless driving.
  • Insure your auto and home with one company – Some insurance companies will award discounts to buyers that have more than one policy such as combining an auto and homeowners policy. Discounts can be 10 percent or more. Even if you’re getting this discount drivers will still want to compare rates to help guarantee you have the best rates. Consumers may save even more by buying insurance from more than one company.
  • Defend yourself with liability – Your policy’s liability coverage kicks in in the event that you are ruled to be at fault for causing damage or personal injury in an accident. It provides for a legal defense up to the limits shown on your policy. Liability insurance is quite affordable compared to insuring for physical damage coverage, so do not cut corners here.
  • Insurance rates for married couples – Having a wife or husband may earn you lower rates when buying car insurance. Having a significant other may mean you are more stable financially and it’s proven that married drivers tend to have fewer serious accidents.
  • Good drivers have lower rates – How you drive impacts premiums far more than you think. Drivers with clean records get better rates than their less careful counterparts. Having just one citation can increase rates to the point where it’s not affordable. Drivers with careless tickets such as DUI or willful reckless driving may be required to submit a SR-22 form with the DMV in their state in order to continue driving.

Tailor your auto insurance coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there is no perfect coverage plan. Everyone’s situation is a little different.

These are some specific questions may help highlight if your situation might need professional guidance.

  • Is a new car covered when I drive it off the dealer lot?
  • Am I covered when pulling a rental trailer?
  • What is medical payments coverage?
  • Am I covered if I hit my neighbor’s mailbox?
  • Am I missing any policy discounts?
  • If my pet gets injured in an accident are they covered?
  • Am I covered if hit by an uninsured driver?
  • Who is covered when they drive my 2016 BMW X1?
  • When can my company non-renew my policy?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form. It’s fast, free and you can get the answers you need.

Don’t believe everything you hear

Drivers can’t get away from all the ads for cheaper insurance coverage from the likes of State Farm and Allstate. All the companies state the claim about how much you will save if you change your policy.

It sounds good, but how can they all make the same claim? Here is how they do it.

Many companies have strict underwriting profiles for the type of customer that will be a good risk. A good example of this type of driver should be over the age of 35, is a homeowner, and has a short commute. Anybody who matches that profile will most likely get cheap rates as well as cut their rates if they switch.

Potential insureds who don’t meet these standards may receive higher prices which leads to the driver buying from a lower-cost company. The trick companies use is to say “people who switch” not “everyone who quotes” will save that much if they switch. This is how insurance companies can make it sound like they have such great premium rates. That is why it’s extremely important to compare price quotes frequently. It’s just too difficult to predict which insurance companies will provide the lowest car insurance rates.

Auto insurance coverages 101

Learning about specific coverages of a auto insurance policy aids in choosing the right coverages for your vehicles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.

Liability car insurance – This coverage provides protection from damage that occurs to other people or property in an accident. This insurance protects YOU against claims from other people, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.

Liability insurance covers claims like structural damage, repair bills for other people’s vehicles, funeral expenses, attorney fees and medical services. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for immediate expenses like dental work, pain medications, X-ray expenses and ambulance fees. They are used to fill the gap from your health insurance program or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Comprehensive insurance – This coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as a broken windshield, vandalism and hitting a bird. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. It can pay for hospital bills for your injuries and damage to your BMW X1.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Collision coverage – This coverage covers damage to your X1 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like colliding with another moving vehicle, hitting a mailbox, crashing into a building, crashing into a ditch and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Best coverage at the best price

As you shop your coverage around, do not buy less coverage just to save a little money. There are many occasions where someone sacrificed liability coverage limits only to find out that the small savings ended up costing them much more. Your strategy should be to purchase plenty of coverage at the best price while still protecting your assets.

Insureds change insurance companies for a variety of reasons including lack of trust in their agent, denial of a claim, policy cancellation and extreme rates for teen drivers. Regardless of your reason, choosing a new company is not as difficult as it may seem.

In this article, we presented many ways to lower your 2016 BMW X1 insurance rates. The most important thing to understand is the more quotes you get, the higher the chance of saving money. Drivers may discover the most savings is with the least-expected company.

More resources