BMW 318i Insurance – 7 Discounts Drivers are Unaware of

I can’t think of a single person who likes paying for car insurance, in particular when the price is too high.

Lots of auto insurance companies contend for your hard-earned dollar, and because of this it can be hard to compare insurance companies and get the best coverage at the lowest rate

If you currently have a car insurance policy, you will most likely be able to save some money using these techniques. Finding affordable coverage is not rocket science. Although consumers can benefit by having an understanding of how the larger insurance companies price online insurance because it can help you find the best coverage.

How to Compare Car Insurance Rates

Effectively comparing car insurance prices can be a daunting task if you don’t know the best way to get rate quotes. You could spend your day discussing policy coverages with insurance agencies in your area, or you can utilize online quoting for quick rates.

Most of the best insurance companies participate in a marketplace where prospective buyers send in one quote, and every company can give them a price. This system prevents you from having to do repetitive form submissions for every car insurance company.

To access this free quoting program, click here (opens in new window).

The only drawback to pricing coverage this way is you cannot specify which carriers to receive prices from. If you would rather choose individual companies to compare prices, we have a listing of companies who write car insurance in your area. Click here to view list.

It’s up to you which method you use, but compare identical coverage information for every company. If the quotes have different values for each quote you will not be able to truly determine the lowest rate. Having just a slight variation in coverage limits can result in a big premium difference. And when quoting car insurance, remember that comparing more company’s prices helps you find the best offered rates.

Save big with these seven discounts

Insurance can cost an arm and a leg, buy you may qualify for discounts that can drop the cost substantially. Larger premium reductions will be automatically applied when you complete an application, but lesser-known reductions have to be inquired about in order for you to get them.

Accident Free – Good drivers with no accidents pay less when compared to drivers who are more careless.
Life Insurance – Select insurance companies reward you with a discount if you purchase auto and life insurance together.
Safety Course Discount – Completing a course in driver safety could possibly earn you a 5% discount and easily recoup the cost of the course.
E-sign – A handful of insurance companies will give a small break just for signing your application digitally online.
Senior Citizens – If you qualify as a senior citizen, you may qualify for a discount up to 10% on 318i insurance.
Student Driver Training – Require your teen driver to successfully complete driver’s ed class in high school.
Pay Now and Pay Less – If paying your policy premium upfront instead of paying each month you could save up to 5%.

Consumers should know that most discounts do not apply to all coverage premiums. Some only apply to specific coverage prices like medical payments or collision. So despite the fact that it appears all those discounts means the company will pay you, car insurance companies aren’t that generous. Any qualifying discounts will bring down your premiums.

To see a list of insurance companies who offer car insurance discounts, click here to view.

Your local neighborhood insurance agent

Some people would prefer to buy from a local agent and that is just fine! One of the great benefits of comparing rates online is you can get the lowest rates but also keep your business local. And supporting local agencies is important especially if you live in a smaller city or town. insurance cheap

Upon completion of this simple form, the coverage information is sent to insurance agents who will battle for your business. You won’t need to visit any agencies as quotes are delivered directly to your email. You can find the lowest rates and a licensed agent to work with.

Types of insurance agents

When finding a reliable agent, there are a couple of different agency structures from which to choose. Agents are classified as either independent (non-captive) or captive.

Independent Agents (or Brokers)

Independent agents are not required to write business for one company but instead can place your coverage with any number of different companies depending on which coverage is best. To move your coverage to a new company, your agent can switch companies without you having to go to a different agency. When comparing rates, we recommend you get quotes from at least one independent agent to ensure the widest selection of prices.

Captive Agents

Captive agents have only one company to place business with and some examples include Allstate, Farmers Insurance, State Farm and AAA. They are unable to shop your coverage around so they have no alternatives for high prices. These agents are very knowledgeable in insurance sales and that can be a competitive advantage.

To view a full list of agents, click here.

Choosing an insurance agency shouldn’t rely on just a cheap price. Any agent should be forthright in answering these questions:

What is the agency’s Better Business Bureau rating?
How are claims handled?
If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
Do they make recommendations based only on price?
Will their companies depreciate repairs to your car based on the mileage?

After getting answers to your satisfaction to these questions and an acceptable price quote, chances are good that you have found an insurance agent that can properly service your car insurance policy. But keep in mind consumers can terminate your policy at any point so never feel that you’re stuck with a policy for the entire policy term.

Car insurance coverage information

Knowing the specifics of car insurance aids in choosing the best coverages and proper limits and deductibles. Policy terminology can be confusing and even agents have difficulty translating policy wording. These are typical coverages offered by car insurance companies.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like fire damage, theft, hail damage, hitting a bird and rock chips in glass. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Collision coverage

Collision insurance pays for damage to your 318i caused by collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things such as sideswiping another vehicle, hitting a mailbox, damaging your car on a curb, sustaining damage from a pot hole and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Insurance for medical payments

Coverage for medical payments and/or PIP provide coverage for immediate expenses for chiropractic care, X-ray expenses, hospital visits and nursing services. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants and will also cover getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your BMW 318i.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Liability coverages

Liability coverage can cover damage that occurs to other’s property or people in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things like loss of income, court costs and medical services. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.

The best insurance company isn’t always the cheapest

As you restructure your insurance plan, it’s not a good idea to reduce needed coverages to save money. There are too many instances where consumers will sacrifice uninsured motorist or liability limits only to regret that the few dollars in savings costed them thousands. The ultimate goal is to purchase plenty of coverage at a price you can afford while still protecting your assets.

Cost effective BMW 318i insurance can be purchased from both online companies and also from your neighborhood agents, and you need to price shop both so you have a total pricing picture. Some car insurance companies may not provide the ability to get a quote online and these small, regional companies work with independent agents.