1999 BMW M Insurance Cost – 7 Ways to Save

Feel like you have high-priced insurance? Don’t feel bad because there are lots of people in the same boat.

There are many insurance companies to pick from, and although it’s a good thing to have multiple companies, lots of choices makes it harder to compare rates.

Finding affordable coverage is quite easy. Basically, everyone who shops for insurance coverage will more than likely be able to find lower rates. But car owners do need to know how the larger insurance companies price insurance differently and apply this information to your search.

How to buy insurance coverage online

All major insurance coverage companies like State Farm, Geico and Progressive allow you to get insurance quotes directly from their websites. The process is possible for anyone because you just enter the coverage amounts you desire on the page. Once entered, the system orders reports for credit and driving violations and generates pricing information based on these factors. Online price quotes helps simplify price comparisons, but the time required to go to a lot of sites and enter the same data into a form is not the best way to spend an afternoon. But it’s absolutely necessary to have as many quotes as possible in order to find a lower rate.

There is a better way!

A better way to compare insurance coverage pricing is to use a quote form that analyzes rates from many companies. This type of form saves time, eliminates repetitive work, and makes rate comparisons much more enjoyable. Immediately after submitting the form, it is rated and you can choose any one of the quotes returned. If one or more price quotes are lower than your current rates, you can simply submit the application and purchase the new policy. It can be completed in less than 10 minutes and may result in a nice savings.

If you want to compare pricing, click here to open in a new tab and submit the form. If you have a policy now, it’s recommended you type in as shown on your current policy. Using the same limits helps guarantee you will have a price comparison for the exact same coverage.

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Are car insurance companies telling the truth?

Companies like State Farm, Geico and Progressive endlessly run ads on television and other media. They all advertise the message that you can save if you switch to their company. That’s great but how can every company cost less than your current company? You have to listen carefully.

Many companies are able to cherry pick for the type of driver that will most likely be profitable. One example of a profitable customer could be a married female, has no tickets, and has excellent credit. Any new insured who meets those qualifications receive the lowest rate quotes as well as save a lot of money.

Potential insureds who don’t qualify for those standards will have to pay a higher rate with the end result being business not being written. Company advertisements say “drivers who switch” not “everyone that quotes” save that much. That’s why companies can lure you into getting a quote. This really emphasizes why drivers must compare quotes as often as possible. It is impossible to guess which insurance companies will give you lower prices than your current company.

Seven discounts for lower-cost car insurance quotes

Some insurers do not list all their discounts very clearly, so we researched both well-publicized in addition to some of the lesser obvious credits available to lower your premiums when you buy auto insurance online.

• Defensive Driver Discounts – Participating in a class that teaches defensive driving techniques could save 5% or more and easily recoup the cost of the course.
• Discounts for Responsible Drivers – Accident-free drivers may save up to 50% more on M coverage than drivers with accident claims.
• Homeowners Savings – Just being a homeowner can save a few bucks due to the fact that maintaining a home requires personal responsibility.
• Multi-policy Discount – If you have multiple policies and insure them with the same company you could get a discount of at least 10% off all policies.
• Anti-lock Brake System – Cars and trucks with anti-lock braking systems prevent accidents so companies give up to a 10% discount.
• Low Mileage Discounts – Keeping the miles down on your BMW could qualify for lower rates on the low mileage vehicles.
• Telematics Discount – Insureds who allow their car insurance company to look at their driving habits through the use of a telematics system like Allstate’s Drivewise could see a rate decrease if they exhibit good driving behavior.

As is typical with insurance, most credits do not apply to your bottom line cost. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think you can get free auto insurance, it just doesn’t work that way.

Companies and some of the premium reductions they offer are shown below.

• Travelers offers discounts including student away at school, multi-car, continuous insurance, multi-policy, good student, driver training, and IntelliDrive.
• 21st Century policyholders can earn discounts including homeowners, 55 and older, early bird, driver training, air bags, teen driver, and student driver.
• State Farm may include discounts for anti-theft, safe vehicle, passive restraint, good student, and multiple policy.
• Geico includes discounts for five-year accident-free, membership and employees, good student, driver training, federal employee, and multi-policy.
• SAFECO has discounts for teen safety rewards, anti-theft, drive less, homeowner, multi-car, and bundle discounts.
• AAA has savings for multi-policy, AAA membership discount, good student, education and occupation, good driver, anti-theft, and multi-car.

When quoting, ask each company or agent which discounts you qualify for. Discounts might not be available to policyholders in your area. To choose companies with the best discounts, click this link.

You may need specialized insurance coverage coverage

When it comes to buying the best insurance coverage coverage, there really is no perfect coverage plan. Every situation is different and your policy should reflect that. For instance, these questions might help in determining whether you would benefit from professional advice.

• Do I pay less if my vehicle is kept in my garage?
• How many claims can I have before being cancelled?
• Do I have coverage when making deliveries for my home business?
• What discounts do I qualify for?
• Should I carry comprehensive and collision coverage?
• What are the best liability limits?

If it’s difficult to answer those questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

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Insurance coverage options for a BMW M

Learning about specific coverages of your policy can help you determine the best coverages and the correct deductibles and limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy. Listed below are typical coverages found on most insurance policies.

Collision coverage – This coverage pays for damage to your M resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as colliding with a tree, driving through your garage door, crashing into a building, scraping a guard rail and backing into a parked car. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also choose a higher deductible to save money on collision insurance.

Coverage for liability – This coverage provides protection from damages or injuries you inflict on other people or property. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, $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 court costs, repair bills for other people’s vehicles and legal defense fees. How much liability should you purchase? That is your choice, but consider buying as much as you can afford.

Medical expense coverage – Medical payments and Personal Injury Protection insurance reimburse you for expenses such as surgery, prosthetic devices, funeral costs, dental work and nursing services. They are used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive protection – This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like theft, rock chips in glass and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Money doesn’t grow on trees

As you prepare to switch companies, it’s not a good idea to sacrifice coverage to reduce premiums. In many instances, an insured dropped liability coverage limits and learned later that saving that couple of dollars actually costed them tens of thousands. Your goal is to purchase plenty of coverage at the best possible price and still be able to protect your assets.

Some companies do not provide the ability to get quotes online and usually these smaller companies sell through local independent agents. Lower-priced auto insurance can be purchased online and from local insurance agents, and you should be comparing both to have the best chance of lowering rates.

Much more information about auto insurance can be read at these links:

• Car Insurance FAQ (Trusted Choice)
• Teen Driving Statistics (Geico)
• Tools for Teen Driving Safety (State Farm)
• What to do at the Scene of an Accident (Insurance Information Insitute)
• All About Airbag Safety (State Farm)
• State Laws for Cellphones and Texting (iihs.org)

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