1997 BMW Z3 Car Insurance Rates – 7 Tips for Cheaper Quotes

Are you overwhelmed by the number of insurance coverage providers that you can choose from? Lot’s of other drivers are too. You have so many providers to choose from that it is a challenge to find lower rates.

Get cheap rates with these seven insurance coverage discounts

Companies don’t always list all disounts very well, so we break down both well-publicized and also the lesser-known discounts that may be available.

• Defensive Driver Discounts – Passing a driver safety course could cut 5% off your bill depending on where you live.
• Multi-line Discount – Larger insurance coverage companies have a discounted price on car insurance if you buy life insurance.
• Seat Belts Save – Drivers who require all vehicle occupants to use their safety belts can save 10% or more on the premium charged for medical payments and/or PIP.
• Senior Discount – Older drivers can get a slight reduction on a insurance coverage quote for Z3 coverage.
• More Vehicles More Savings – Buying insurance for multiple cars with one company can reduce rates for all insured vehicles.
• Lower Rates for Military – Being deployed with a military unit could be rewarded with lower prices.
• Renewal Discounts – Select companies give a discount for renewing your policy before your current coverage expires. You can save around 10% with this discount.

A little note about advertised discounts, most discount credits are not given to all coverage premiums. Some only apply to the price of certain insurance coverages like comprehensive or collision. Just because you may think it’s possible to get free car insurance, companies don’t profit that way.

A list of companies and some of the discounts are shown below.

• Farm Bureau may include discounts for multi-vehicle, 55 and retired, driver training, safe driver, youthful driver, and good student.
• Liberty Mutual has savings for newly married, safety features, newly retired, new graduate, exclusive group savings, good student, and hybrid vehicle.
• State Farm includes discounts for student away at school, safe vehicle, accident-free, driver’s education, and multiple policy.
• Auto-Owners Insurance offers discounts for group or association, student away at school, good student, multi-policy, mature driver, paperless, and air bags.
• Geico has discounts for anti-lock brakes, federal employee, defensive driver, air bags, and military active duty.
• SAFECO may have discounts that include accident prevention training, multi-car, homeowner, teen safe driver, and safe driver.

When quoting, ask each company or agent to give you their best rates. Some credits may not be available in your area. For a list of providers with significant discounts, click here to view.

Insurance can get complicated

When buying adequate coverage, there isn’t really a “perfect” insurance plan. Everyone’s needs are different.

For instance, these questions can help discover if your situation will benefit from professional help.

• Does liability extend to a camper or trailer?
• Is business property covered if stolen from my car?
• Are my friends covered when driving my car?
• Should I buy only the required minimum liability coverage?
• How high should my medical payments coverage be?
• Am I getting all the discounts available?
• When can my company non-renew my policy?
• Are all vehicle passengers covered by medical payments coverage?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form.

Coverage specifics

Learning about specific coverages of a insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be impossible to understand and reading a policy is terribly boring.

Liability coverage

This coverage provides protection from damage or injury you incur to other’s property or people. This coverage protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims such as medical expenses, loss of income and attorney fees. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive coverages

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like vandalism, hail damage and hitting a bird. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your BMW Z3.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.

Collision coverage

This coverage pays for damage to your Z3 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as sustaining damage from a pot hole, scraping a guard rail, crashing into a ditch, hitting a mailbox and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance pay for immediate expenses for things like funeral costs, EMT expenses, rehabilitation expenses, prosthetic devices and nursing services. They can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states and may carry a deductible

Final thoughts

As you go through the steps to switch your coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There are too many instances where an insured dropped uninsured motorist or liability limits and learned later that the few dollars in savings costed them thousands. Your goal should be to find the BEST coverage at an affordable rate, but do not sacrifice coverage to save money.

Cheaper insurance coverage can be sourced online and from local insurance agents, and you need to price shop both so you have a total pricing picture. Some insurance providers may not offer online price quotes and usually these regional insurance providers only sell through independent agents.

Drivers leave their current company for any number of reasons including denial of a claim, high rates after DUI convictions, policy cancellation and even delays in responding to claim requests. Regardless of your reason for switching companies, finding the right insurance coverage provider is pretty simple and you could end up saving a buck or two.

For more information, feel free to browse these articles:

• Property Damage Coverage (Liberty Mutual)
• Car Insurance: When not to Skimp (BankRate.com)
• Learn About Car Insurance (Geico)
• All About Airbag Safety (State Farm)
• Alcohol Impaired Driving FAQ (iihs.org)
• How to Avoid Buying a Flooded Car (Insurance Information Insitute)