Better Tricks to Paying Less to Insure a BMW 740il

No one in their right mind enjoys paying for car insurance, especially knowing the cost is way too high. Having so many car insurance companies to choose from, it can be challenging to find the lowest cost provider.

Policy discounts you shouldn’t miss

Companies that sell car insurance don’t always list all their discounts in an easy-to-find place, so here is a list some of the more common and the harder-to-find car insurance savings. If they aren’t giving you every credit possible, you’re just leaving money on the table.

• Payment Discounts – By paying your policy upfront rather than paying monthly you can actually save on your bill.
• Passive Restraint Discount – Vehicles equipped with air bags or motorized seat belts can get savings of more than 20%.
• Government Employees – Active or retired federal employment can earn a discount up to 10% on 740il coverage depending on your company.
• Paperwork-free – Certain companies may give you up to $50 simply for signing digitally online.
• Multiple Vehicles – Buying insurance for multiple vehicles on one policy qualifies for this discount.
• Life Insurance Discount – Larger companies have lower rates if you buy life insurance from them.
• No Accidents – Drivers with accident-free driving histories can earn big discounts compared to accident-prone drivers.

A little note about advertised discounts, many deductions do not apply to the entire cost. A few only apply to specific coverage prices like medical payments or collision. So when the math indicates all the discounts add up to a free policy, companies don’t profit that way.

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

Free Car Insurance Quotes

Getting a lower price on BMW 740il insurance is surprisingly easy. The only requirement is to invest a little time to get quotes online from several insurance companies. This can be done in a couple of different ways.

One of the simplest ways to get the best comparison quotes is to use a rate comparison form like this one (opens in new window). This form saves time by eliminating boring form submissions for each company you want a rate for. Just one form gets rate comparisons from car insurance companies with the best prices.

A different way to compare rate quotes is going to the website for each individual company to request a price quote. For sake of this example, we’ll pretend you want to compare rates from State Farm, Safeco and GMAC. To get rate quotes you would need to visit each site and enter your information, and that’s why the first method is more popular.

For a handy list of car insurance company links in your area, click here.

Which method you use is up to you, but double check that you are using exactly the same quote information on every quote you get. If you have different deductibles then you won’t be able to find the best deal for your BMW 740il.

BMW 740il premiums are determined by many factors

An important part of buying insurance is that you know the rating factors that help determine the price you pay for car insurance. Having a good understanding of what influences your rates empowers consumers to make smart changes that could result in big savings.

• How’s your driving record? – Whether or not you get tickets has a huge affect on how much you pay. Good drivers have lower premiums compared to drivers with tickets. Just one speeding ticket can increase rates forty percent or more. Drivers with flagrant tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to keep their license.
• Your location is important – Residing in a rural area has it’s advantages when insuring your vehicles. Urban drivers tend to have congested traffic and longer commutes to work. Lower population translates into fewer accidents.
• Higher deductibles cost less – Physical damage deductibles define the amount you are willing to pay before a claim is paid by your company. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. A few examples of covered claims are running into the backend of another car, collision with an animal, and rolling your vehicle. The higher the amount you have to pay, the bigger discount you will receive on 740il coverage.
• Liability coverage is peace of mind – Liability insurance provides coverage in the event that a jury decides you are liable for damages caused by your negligence. Liability insurance provides legal defense which can be incredibly expensive. Liability is cheap compared to physical damage coverage, so do not skimp.
• Do you have a high stress job? – Did you know your car insurance rates can be affected by your occupation? Occupations such as lawyers, architects and financial analysts are shown to have higher average rates due to stressful work requirements and lots of time spent at work. Conversely, professions such as farmers, engineers and homemakers pay the least on 740il coverage.
• How credit affects car insurance rates – Your credit score is a huge factor in your rate calculation. Drivers who have good credit tend to be better drivers and file fewer claims than those with lower credit scores. So if your credit is low, you could pay less to insure your BMW 740il by repairing your credit.
• Drive less and save money – The more miles you rack up on your BMW in a year the higher your rate. Most companies apply a rate based on their usage. Cars used primarily for pleasure use qualify for better rates compared to those used for work or business. Double check that your car insurance policy is rated on how each vehicle is driven. If your policy improperly rates your 740il can cost quite a bit.

In the end, you save

When shopping online for car insurance, you should never reduce coverage to reduce premium. There have been many cases where drivers have reduced physical damage coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your strategy should be to buy enough coverage at a price you can afford.

You just learned a lot of ways to reduce BMW 740il insurance prices online. It’s most important to understand that the more you quote, the better likelihood of reducing your rate. Drivers may discover the lowest priced car insurance comes from a small local company. Some small companies often have lower prices on specific markets as compared to the big name companies such as Allstate and Progressive.

Affordable BMW 740il insurance is possible both online and with local insurance agents, and you need to price shop both to have the best selection. Some car insurance companies do not offer online quoting and many times these smaller companies only sell through independent insurance agents.