BMW 650i Insurance – 8 Discounts You May be Missing

Are you a victim of high-priced auto insurance? Believe me when I say there are a lot of people just like you who feel imprisoned by their auto insurance policy. Many auto insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer and get the best coverage at the best rates possible.

Free Quotes for Auto Insurance

Performing a rate comparison can be exhausting if you don’t know the best way to get rate quotes. You can spend countless hours talking to insurance companies in your area, or you could use online quoting to achieve your goal.

Most of the larger companies participate in an industry program that enables customers to submit one quote, and every company then gives them pricing. This saves time by eliminating quote requests to every company.

To participate in this free quote system, click here to open in new window.

The single downside to using this type of system is you cannot specify the insurers you want pricing from. So if you prefer to pick from a list of companies to compare, we have assembled a list of companies who write auto insurance in your area. Click to view list.

It’s up to you which method you use, but compare apples-to-apples coverage limits for every company. If you compare mixed coverages then you won’t be able to make an equal comparison.

The auto insurance bait and switch

Consumers constantly see and hear ads that promise big savings from companies such as State Farm, GEICO and Progressive. All the companies make the same claim about savings if you switch your policy.

How does each company claim to save you money? This is how they do it.

All the different companies have a certain “appetite” for the type of driver that earns them a profit. An example of a driver they prefer could possibly be a mature driver, owns a home, and has a short commute. A customer who fits that profile will qualify for the lowest rates and as a result will probably pay quite a bit less when switching companies.

Potential customers who are not a match for the “perfect” profile will be quoted higher rates and this can result in the driver buying from a lower-cost company. Company advertisements say “people who switch” not “people who quote” save that kind of money. This is how companies can truthfully advertise the way they do. This emphasizes why drivers must get quotes from several different companies. You cannot predict the company that will fit your personal profile best.

Are you getting all your discounts?

Car insurance companies do not advertise every discount very clearly, so we took the time to find both the well known and the more hidden ways to save on auto insurance. If you’re not getting every credit available, you’re paying more than you need to.

• Good Student Discount – Performing well in school can earn a discount of 20% or more. This discount can apply until age 25.
• Distant Student – Any of your kids living away from home attending college and don’t have a car can receive lower rates.
• Multiple Vehicles – Buying coverage for multiple vehicles with the same company could earn a price break for each car.
• Anti-theft Discount – Anti-theft and alarm systems can help prevent theft and will save you 10% or more.
• Memberships – Being a member of a qualifying organization could qualify you for a break on your policy on 650i insurance.
• Early Switch Discount – Select companies give a discount for signing up prior to your current policy expiration. It’s a savings of about 10%.
• Passive Restraints – Cars that have air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.
• Drive Less and Save – Low mileage vehicles can qualify you for lower rates on the low mileage vehicles.

As a disclaimer on discounts, many deductions do not apply to the entire cost. A few only apply to the price of certain insurance coverages like comp or med pay. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck.

For a list of companies who offer auto insurance discounts, follow this link.

What happened to insurance agents?

A small number of people just want to buy from a licensed agent. Good agents can help determine the best coverages and help file insurance claims. The biggest benefit of price shopping on the web is you may find the lowest rates and still have an agent to talk to.

By using this short form, your insurance data is immediately sent to agents in your area who will battle for your insurance coverage. There is no need to leave your house as quotes are delivered to your email.

Deciding on an insurer needs to be determined by more than just a low price. Agents should be asked these questions:

• Do you have coverage for a rental car if your vehicle is in the repair shop?
• What insurance company do they write the most business with?
• Are there any discounts that you might be missing?
• Which insurance companies are they affiliated with?
• Does the agency support the community they serve?

If you wish to view a list of agents in your state to contact, visit this site.

Once you have positive feedback to your questions and locked in a price quote, you have narrowed it down to an insurance company that is a good match to service your policy. But keep in mind once you purchase a policy you can cancel coverage at any point so don’t assume that you are obligated to your new company for the full term.

Specifics of your auto insurance policy

Having a good grasp of a auto insurance policy helps when choosing appropriate coverage for your vehicles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverage types available from auto insurance companies.

Collision insurance

Collision coverage pays for damage to your 650i resulting from colliding with another car or object. A deductible applies then your collision coverage will kick in.

Collision can pay for claims like hitting a mailbox, crashing into a building and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to increase the deductible in order to get cheaper collision rates.

Comprehensive coverage

Comprehensive insurance coverage covers damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like damage from flooding, hail damage, falling objects and a broken windshield. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability coverages

Liability coverage provides protection from injuries or damage you cause to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability insurance covers claims such as loss of income, court costs, attorney fees and medical expenses. How much coverage you buy is a decision to put some thought into, but consider buying as much as you can afford.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like doctor visits, nursing services, chiropractic care, pain medications and prosthetic devices. They can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states and may carry a deductible

In conclusion

Cheap BMW 650i insurance is available online in addition to many insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who do not provide the ability to get a quote online and these smaller companies work with independent agents.

When shopping online for auto insurance, make sure you don’t sacrifice coverage to reduce premiums. There have been many cases where consumers will sacrifice uninsured motorist or liability limits only to discover later that the few dollars in savings costed them thousands. Your strategy should be to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.