Save on 2017 BMW i8 Insurance Cost

Expensive insurance coverage can dry up your family’s budget and force you to make tough financial choices. Comparing rate quotes can save money and help to lower your monthly bill.

Vehicle owners have multiple insurers to choose from, and even though it’s nice to have a choice, more options can take longer to find the lowest cost provider.

How to get cheap insurance

Comparing insurance rates can take time and effort if you don’t utilize the fastest way to get free quotes. You could waste time driving to local insurance agents in your area, or you could save time and use online quoting to get prices fast.

Most of the larger companies belong to an insurance system that enables customers to send in one quote, and each participating company then gives them pricing based on the submitted data. This saves time by eliminating quote requests to every company.

To fill out one form to compare multiple rates now click here to open in new window.

One minor caviat to getting quotes like this is you cannot specify the providers to receive prices from. So if you want to choose individual companies to receive pricing from, we have a page of companies who write insurance in your area. Click here to view list.

It’s up to you how you get prices quotes, just make darn sure you compare equivalent coverage limits and deductibles with every price quote. If you use unequal deductibles or liability limits you can’t possibly make a fair rate comparison.

Save a ton by earning discounts

Companies don’t always advertise every disount available in a way that’s easy to find, so we took the time to find some of the best known in addition to some of the lesser obvious credits available to lower your premiums when you buy car insurance online.

  • Distant College Student Discount – Youth drivers who are attending college and don’t have a car could qualify for this discount.
  • Passenger Safety Discount – Factory air bags or motorized seat belts may qualify for discounts up to 30%.
  • Senior Discount – If you’re over the age of 55, you may qualify for lower premium rates on i8 insurance.
  • Discount for Home Ownership – Owning your own home or condo can earn you a little savings since owning and maintaining a home demonstrates responsibility.
  • Memberships – Belonging to certain professional organizations is a good way to get lower rates on your next insurance coverage statement.

Please keep in mind that most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like comprehensive or collision. So when it seems like adding up those discounts means a free policy, it’s just not the way it works.

Larger insurance coverage companies and some of the premium reductions they offer include:

  • 21st Century has discounts for driver training, teen driver, student driver, automatic seat belts, 55 and older, and anti-lock brakes.
  • Progressive discounts include good student, multi-policy, online quote discount, continuous coverage, multi-vehicle, and online signing.
  • State Farm offers premium reductions for safe vehicle, Steer Clear safe driver discount, student away at school, good student, and Drive Safe & Save.
  • Nationwide may have discounts that include multi-policy, business or organization, Farm Bureau membership, defensive driving, and family plan.
  • Esurance may offer discounts for Pac-12 alumni, emergency road assistance, multi-policy, good student, DriveSense, and online shopper.
  • The Hartford offers discounts including good student, driver training, vehicle fuel type, defensive driver, air bag, anti-theft, and bundle.

Before buying, ask all the companies how you can save money. Some of the discounts discussed earlier might not be offered in your area. If you would like to choose from a list of insurance companies that offer some of these discounts, follow this link.

Five tips to get cheaper insurance rates

Multiple criteria are considered when premium rates are determined. Some factors are common sense such as traffic violations, but other factors are not quite as obvious such as your credit history and annual miles driven.One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that come into play when calculating the price you pay for car insurance. When you know what positively or negatively impacts premium levels, this enables informed choices that could result in lower car insurance prices.

Shown below are just a few of the factors utilized by car insurance companies to help set your rates.

  • Your spouse saves you money – Having a wife or husband can actually save you money on your car insurance bill. Having a spouse is viewed as being more mature and it’s statistically proven that being married results in fewer claims.
  • Pay more of a claim out-of-pocket – Deductibles for physical damage are the amount of money you are willing to pay out-of-pocket in the event of a claim. Physical damage insurance, also called ‘full coverage’, protects your car from damage. Some instances where coverage would apply are colliding with a stationary object, animal collisions, or theft of your vehicle. The more damage repair cost you have to pay, the lower your rates will be on i8 insurance.
  • Liability claims can be big – The liability section of your policy kicks in if ever you are determined to be liable for personal injury or accident damage. Liability insurance provides legal defense starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should make sure they buy enough to cover all assets.
  • Poor driving leads to higher costs – Being a careful driver has a huge affect on how much you pay. Getting just one speeding ticket can boost insurance rates by twenty percent. Drivers with clean records receive lower rates compared to drivers with tickets. Drivers who have gotten careless tickets such as reckless driving or DUI may need to complete a SR-22 with their state’s licensing department in order to prevent their license from being revoked.
  • More policies can equal more savings – Lots of car insurance companies will award a discount to people that have more than one policy such as combining an auto and homeowners policy. Discounts can add up to 10 percent or more. Even if you qualify for this discount already, you still need to shop around to confirm you are receiving the best rates possible. You may still find a better deal even if you have your coverage with different companies

Your insurance coverage should be tailored to you

When choosing adequate coverage for your personal vehicles, there is no “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. For example, these questions can aid in determining if your situation would benefit from professional advice.

  • How do I buy GAP insurance?
  • Am I covered if I break a side mirror?
  • Why am I required to buy liability insurance?
  • Am I covered if I crash into my own garage door?
  • When should my teen driver be added to my policy?
  • What are the financial responsibility laws in my state?
  • Should I bundle my homeowners policy with my auto?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.

Auto insurance coverages

Knowing the specifics of a insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. Insurance terms can be ambiguous and even agents have difficulty translating policy wording. These are typical coverages found on the average insurance policy.

Coverage for collisions

This covers damage to your i8 resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things like hitting a parking meter, crashing into a ditch and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for expenses for things like rehabilitation expenses, dental work and EMT expenses. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other drivers when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Auto liability insurance

This provides protection from damage that occurs to people or other property by causing an accident. This coverage protects you against other people’s claims, and doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for things such as repair bills for other people’s vehicles, medical services, bail bonds and legal defense fees. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford.

Comprehensive insurance

This pays for damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as damage from getting keyed, vandalism, a broken windshield and damage from flooding. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Coverage on a shoestring budget

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. Too many times, drivers have reduced full coverage only to regret at claim time that the savings was not a smart move. Your goal is to buy enough coverage at the best possible price but still have enough coverage for asset protection.

The cheapest 2017 BMW i8 insurance is attainable from both online companies as well as from insurance agents, and you should compare price quotes from both to have the best rate selection. Some auto insurance companies do not offer price quotes online and many times these small, regional companies only sell through independent agents.

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