Why It Costs Less to Buy BMW X3 Insurance Online

Did you fall for a flashy sales pitch and buy overpriced car insurance? Trust us, you’re not the only one.

You have so many insurance companies to insure vehicles with, and although it’s a good thing to have multiple companies, it can be more challenging to compare rates.

Locating the cheapest car insurance is easy if you know what you’re doing. In a nutshell, every driver who is required by state law to have car insurance stands a good chance to be able to find lower rates. Although drivers do need to understand how the larger insurance companies sell online and take advantage of how the system works.

These factors can influence what you pay for BMW X3 insurance

An important part of buying insurance is that you know the rating factors that go into determining the rates you pay for car insurance. Having a good understanding of what determines base rates enables informed choices that could result in lower car insurance prices.

Traffic violations increase rates – Your driving record has a big impact on rates. Even a single speeding ticket may increase your cost twenty percent or more. Drivers with clean records tend to pay less for car insurance than bad drivers. Drivers who get serious violations such as hit and run, DWI or reckless driving convictions may be required to file a SR-22 with their state DMV in order to continue driving.
Extra add-on coverages are wasting money – There are quite a few extra coverages that you can buy when buying car insurance. Things like rental car reimbursement, towing coverage and motor club memberships may be wasting your money. They may seem good when talking to your agent, but if you don’t need them remove them from your policy.
What are your deductibles? – Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your BMW. Some instances where coverage would apply are a windshield shattered by a rock, collision with an animal, and rolling your vehicle. The deductibles are how much you are willing to pay out-of-pocket in the event of a claim. The higher the amount you are required to pay out-of-pocket, the lower your rates will be for X3 insurance.
How many coverages with the same company – The majority of insurers provide better rates to insureds who carry more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount it’s in your best interest to compare other company rates to ensure the best deal.
Pay less if you’re married – Having a wife or husband can actually save you money on your car insurance policy. Having a significant other translates into being more mature and it’s statistically proven that married couples file fewer claims.
Equipment add-ons that lower car insurance rates – Owning a car that has an advanced theft prevention system can help bring down rates. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent car theft.
Do you work long hours in a high stress job? – Careers like real estate brokers, business owners and stock brokers tend to pay the highest rates attributed to high stress levels and lengthy work days. On the other hand, occupations such as scientists, students and the unemployed have the lowest average rates for X3 insurance.

How to Buy Car Insurance Online

The are a couple different ways of comparing rates from car insurance companies in your area. The fastest way to find the cheapest BMW X3 insurance rates is simply to get online rate quotes. This can be done in a couple of different ways.

The most efficient way to find the lowest comparison rates is an all-inclusive rate comparison click here to open form in new window. This form prevents you from having to do separate quote forms for every car insurance company. Just one form will return price quotes from many national carriers.
A more time consuming way to get quotes online is to take the time to go to the website for each individual company to complete their respective quote request forms. For instance, let’s say you want to compare Auto-Owners, Progressive and State Farm. You would have to go to every website to input your insurance information, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.
The least efficient way to get comparison rates is driving to and from local insurance agencies. Buying insurance online has reduced the need for local agents unless you have a need for the trained guidance of a licensed agent. You can, however, find lower rates online but buy from a local insurance agent and we’ll talk about that later.

It’s up to you how you get prices quotes, just ensure you’re using apples-to-apples coverages for every company. If you compare different deductibles you will not be able to find the best deal for your BMW X3. Having just a slight variation in coverage limits can result in a big premium difference. And when comparing car insurance rates, know that having more price comparisons will improve the odds of getting the best rates.

Slick advertising tricks that work

State Farm, GEICO and Progressive regularly use television and radio advertisements. All the companies make the same claim that you’ll save big if you move to their company. But how can every company claim to save you money? It’s all in the numbers.

All the different companies are able to cherry pick for the type of driver that earns them a profit. For example, a desirable insured could possibly be between 30 and 50, has no tickets, and drives less than 7,500 miles a year. A driver who fits that profile will get very good rates and most likely will save a lot of money.

Consumers who don’t meet the requirements must pay higher prices which leads to the customer not buying. The ads say “customers that switch” not “people who quote” save that much. That is how insurance companies can confidently claim big savings.

This illustrates why drivers must get as many comparisons as possible. It’s just too difficult to predict which insurance companies will give you the biggest savings. insurance prices

Take discounts and save

Insurance can cost an arm and a leg, but there could be available discounts that you may not know about. Some discounts apply automatically when you complete an application, but some must be requested specifically before you will receive the discount.

Paperless Signup – Some insurance companies may give you up to $50 for buying a policy and signing up digitally online.
Defensive Driving Course – Taking a defensive driving course could save 5% or more depending on where you live.
Air Bag Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts of 20% or more.
Homeowners Discount – Simply owning a home may earn you a small savings because owning a home shows financial diligence.
Drivers Ed for Students – Require your teen driver to complete a driver education course in school.
Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
Good Students Pay Less – This discount can get you a discount of up to 25%. The discount lasts up to age 25.

Consumers should know that many deductions do not apply to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So despite the fact that it appears adding up those discounts means a free policy, companies wouldn’t make money that way. Any qualifying discounts will bring down the cost of coverage.

To see a list of insurance companies with the best car insurance discounts, follow this link.

What if I want to buy from a local agent?

Certain consumers just want to get advice from a local agent and that is a personal choice. The best thing about comparing rates online is that you can obtain the lowest rates and still have an agent to talk to. Buying from local insurance agencies is important particularly if you live in a smaller city or town.

By using this form (opens in new window), your insurance coverage information gets sent to participating agents who will return price quotes for your coverage. There is no reason to drive around because quoted prices will be sent to the email address you provide. It doesn’t get any easier! You’ll get the best rates AND an agent nearby.

Independent or Captive: It’s your choice

If you’re trying to find a reputable insurance agent or broker, you need to know there are two different agency structures that you can select. Agents are classified as either captive or independent (non-captive).

Independent Agents (or Brokers)

Independent agents do not work for one specific company but instead can place your coverage with any number of different companies enabling the ability to shop coverage around. If your agent finds better pricing, the agent simply finds a different carrier and that require little work on your part.

When comparison shopping, we recommend you include price quotes from at a minimum one independent agency for the best price selection.

Captive Insurance Agents

Captive agencies write business for a single company and some examples include Allstate, Farmers Insurance or State Farm. They are unable to compare other company’s rates so it’s a take it or leave it situation. These agents are well schooled on their company’s products which can be an advantage.

To view a full list of agencies, visit this site.

Selecting an auto insurance agent needs to be determined by more than just a cheap price. Any agent should have no problem answering these questions:

How long has their agency been in business?
Are claim adjusters local or do you have to take your car somewhere else?
Which company do they place the most coverage with?
What insurance companies do they work with?
Do you have coverage for a rental car if your vehicle is in the repair shop?
Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
Is the agent and/or agency licensed to do business in your state?

Upon getting reasonable responses for all questions you ask and an affordable coverage quote, chances are good that you have found an auto insurance agent that can adequately provide car insurance.

Online plus local equals savings

Discount BMW X3 insurance is possible from both online companies in addition to many insurance agents, so you should be comparing quotes from both to have the best selection. A few companies do not provide the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.

As you go through the steps to switch your coverage, do not skimp on coverage in order to save money. There are too many instances where consumers will sacrifice liability limits or collision coverage only to find out that their decision to reduce coverage ended up costing them more. Your aim should be to buy the best coverage you can find for the lowest price while still protecting your assets.