7 Tips to Save on BMW 840ci Insurance

Tired of being strong-armed to buy car insurance? You are in the same boat as the majority of other car owners.

Since consumers have many insurance companies to choose from, it’s nearly impossible to pick the best car insurance company.

Finding the best rates is easy if you know what you’re doing. Just about every driver who shops for car insurance stands a good chance to be able to find lower rates. Although car owners must understand the methods companies use to market on the web and apply this information to your search.

Companies offer discounts so take them!

Companies don’t always publicize all their discounts in an easy-to-find place, so the following is a list of both well-publicized as well as the least known savings tricks you should be using.

• Multiple Vehicles – Having multiple vehicles on the same car insurance policy qualifies for this discount.
• Discount for Life Insurance – Larger companies have a discount if you purchase life insurance.
• Theft Prevention Discount – Anti-theft and alarm systems can help prevent theft and will save you 10% or more.
• Accident Waiver – A handful of insurance companies permit an accident without raising rates as long as you don’t have any claims for a certain period of time.
• Own a Home – Owning a house may earn you a small savings because owning a home requires personal responsibility.
• Drive Less and Save – Driving fewer miles can earn better rates on cars that stay parked.
• Lower Rates for Military – Having a deployed family member may qualify for rate reductions.

It’s important to note that some of the credits will not apply to all coverage premiums. Most only cut individual premiums such as comprehensive or collision. So even though it sounds like you can get free auto insurance, it just doesn’t work that way.

You may need specialized coverage

When it comes to buying the right insurance coverage, there isn’t really a one size fits all plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For instance, these questions can help discover whether you would benefit from an agent’s advice.

• Are my tools covered if they get stolen from my vehicle?
• Are my friends covered when driving my BMW 840ci?
• Can I afford to pay high deductible claims out of pocket?
• How high should my uninsured/underinsured coverage be in my state?
• Am I covered when using my vehicle for business?
• Is my nanny covered when driving my vehicle?

If it’s difficult to answer those questions then you might want to talk to an agent. To find an agent in your area, take a second and complete this form or click here for a list of car insurance companies in your area.

Quote online but still have a local agent

Some people prefer to buy from a licensed agent and that is a personal choice. The biggest benefit of comparing insurance prices online is the fact that you can find lower rates but still work with a licensed agent.

For easy comparison, once you complete this quick form, your information is submitted to companies who will return price quotes for your insurance coverage. There is no need to even leave your home due to the fact that quote results will go straight to your inbox. You can find the lowest rates without the usual hassles of price shopping.

Picking an insurer requires more thought than just the bottom line cost. These are valid questions to ask:

• How much can you save by raising your physical damage deductibles?
• Is the agency involved in supporting local community causes?
• Is their price quote a firm figure or are their hidden costs?
• Who are their largest clients?
• Do clients work directly with the agent or are most inquiries handled by a CSR?
• Does the agent have professional designations like CIC, CPCU or AIC?
• Can they give you a list of client referrals?
• Are you getting all the discounts the company offers?

Two types of insurance agents

If you’re trying to find local agents, you must know there are a couple different agency structures that differ in how they can insure your vehicles. agents are either independent (non-captive) or captive.

Captive Insurance Agents

Captive agencies have only one company to place business with and some examples include State Farm, Allstate and AAA. These agents are not able to place coverage with different providers so always compare other rates. These agents are usually quite knowledgeable on their products and sales techniques which helps them sell insurance even at higher premiums.

Independent Insurance Agents

These agents are not locked into one company so they can insure your vehicles with lots of companies and possibly get better coverage at lower prices. If you are not satisfied with one company, an independent agent can move your coverage and you won’t have to switch agencies. When searching for an agent, you should always include price quotes from several independent insurance agents to get the best comparison.

For a complete listing of car insurance agents, click here.

Upon getting acceptable answers to your questions in addition to an acceptable price estimate, you’ve probably found a car insurance agent that is a good match to adequately provide car insurance. Keep in mind once you purchase a policy you can cancel coverage any time you want so don’t assume you are locked into your new company for the entire policy term.

Are you falling for claims of savings?

Car insurance providers like State Farm and Allstate regularly use ads on TV and radio. They all make an identical promise about savings if you move to them. How does each company make the same claim?

Different companies have a preferred profile for the driver they prefer to insure. For example, a preferred risk might be profiled as over the age of 40, is a homeowner, and has great credit. A propective insured who matches those parameters gets the lowest rates and most likely will save when they switch companies.

Drivers who don’t meet the “perfect” profile will have to pay higher rates and ends up with the driver buying from a lower-cost company. The ads state “customers that switch” not “people who quote” save money. That’s the way companies can truthfully advertise the savings. Because of the profiling, drivers should compare as many rates as you can. It’s impossible to know which company will give you the biggest savings.

Auto insurance coverage information

Understanding the coverages of car insurance aids in choosing appropriate coverage for your vehicles. Car insurance terms can be ambiguous and nobody wants to actually read their policy. Below you’ll find the normal coverages offered by car insurance companies.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for funeral costs, hospital visits and EMT expenses. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay

Comprehensive coverage

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like damage from a tornado or hurricane, falling objects, a tree branch falling on your vehicle, vandalism and theft. The most a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage

This coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your BMW 840ci.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Auto liability insurance

This provides protection from damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 50/100/50 which means a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage pays for things like medical expenses, loss of income and court costs. How much coverage you buy is a personal decision, but buy as large an amount as possible.

Collision insurance

This coverage pays for damage to your 840ci from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things such as hitting a parking meter, sideswiping another vehicle, driving through your garage door and scraping a guard rail. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Summing up your car insurance search

You just read a lot of tips how to save on BMW 840ci insurance. It’s most important to understand that the more providers you compare, the better your chances of lowering your rates. You may even find the lowest priced car insurance comes from a small mutual company. They may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.

As you restructure your insurance plan, it’s very important that you do not buy lower coverage limits just to save a few bucks. Too many times, an insured dropped liability coverage limits and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find for the lowest price while not skimping on critical coverages.