9 Proven Ways to Slash BMW 550i Insurance Rates

Searching for the cheapest insurance for a BMW 550i can be a painful process, but you can learn a few tricks to make it easier. There are both good and bad ways to buy car insurance so we’re going to tell you the best way to price shop coverage for a new or used BMW and obtain the lowest possible price either online or from local insurance agents.

Consumers need to compare prices every six months because prices are adjusted regularly by insurance companies. Even if you think you had the best price for 550i insurance on your last policy other companies may now be cheaper. There is a lot of bad advice regarding car insurance online, so with this article, you’re going to get some good information on how to slash your car insurance rates.

Be sure to get all your discounts

Companies offering auto insurance don’t list every available discount very clearly, so we researched some of the more common and also the lesser-known savings tricks you should be using. If you’re not getting every credit you deserve, you are throwing money away.

• Memberships – Affiliation with a civic or occupational organization is a good way to get lower rates when shopping for car insurance for 550i insurance.
• Early Signing – Select companies give a discount for switching policies prior to your current policy expiring. This can save 10% or more.
• Fewer Miles Equal More Savings – Driving fewer miles can qualify you for better rates on cars that stay parked.
• E-sign – Certain companies will give a small break simply for signing on their website.
• Anti-theft Discount – Anti-theft and alarm systems can help prevent theft and earn discounts up to 10%.
• Air Bag Discount – Vehicles equipped with air bags may earn rate discounts of more than 20%.

A little note about advertised discounts, most discounts do not apply to the overall cost of the policy. A few only apply to individual premiums such as comprehensive or collision. Even though it may seem like it’s possible to get free car insurance, it doesn’t quite work that way.

For a list of insurers with the best car insurance discounts, click here to view.

How to Compare Car Insurance

Shopping for lower car insurance rates can be a lot of work if you aren’t aware of the best way to get rate quotes. You can waste a lot of time driving to agents in your area, or you can utilize the internet to get rate comparisons in just a few minutes.

Many companies participate in a marketplace that enables customers to enter their coverage request one time, and at least one company then gives them pricing for coverage. This prevents consumers from doing quote requests for each company you want a rate for. To access this free quoting program, click here to open in new window.

The single downside to comparing rates this way is that consumers can’t choose the providers to receive prices from. If you prefer to choose specific insurance companies to compare prices, we have a page of companies who write car insurance in your area. Click here to view list.

However you get your quotes, ensure you’re using the exact same deductibles and coverage limits with every price quote. If your comparisons have different limits and deductibles on each one you can’t possibly determine which rate is truly the best.

What is YOUR best insurance company?

We just showed you a lot of information how to get a better price on BMW 550i insurance. The key concept to understand is the more companies you get rates for, the better your chances of lowering your rates. You may even discover the lowest rates come from the smaller companies.

Budget-conscious BMW 550i insurance is possible both online in addition to many insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers do not provide the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.

When trying to cut insurance costs, it’s a bad idea to buy poor coverage just to save money. In many cases, an accident victim reduced collision coverage and learned later that the small savings ended up costing them much more. The aim is to buy the best coverage you can find at a price you can afford.