2016 BMW i8 Insurance Rates – 9 Tricks for Best Quotes

Looking for better insurance rates for your BMW i8? Finding better insurance prices for your BMW i8 can normally be a lot of work, but you can learn these tips to save time. There are more efficient ways to compare insurance rates and we’ll show you the proper way to get price quotes for a BMW and find the lowest possible price from both online companies and local agents.

How to compare insurance quotes

Reducing your 2016 BMW i8 insurance rates is surprisingly easy. Just spend a little time comparing free car insurance quotes from some recommended companies. This is very easy and can be done by following the guidelines below.

Hands down the most simple method to get the best comparison quotes would be an industry-wide quote request form click here to open form in new window. This quick form keeps you from doing multiple quote forms to each individual insurance company. One form submission gets coverage cost estimates from multiple companies. Recommended for those who want to invest the least amount of time.

Another way to compare rate quotes is spending the time to visit the website of each company and go through the quote process again. For examples sake, we’ll assume you want to see prices from Progressive, Esurance and Liberty Mutual. You would need to visit each site to input your insurance information, and that explains why we recommend the first method.

To view a list of companies in your area, click here.

Whichever way you choose to compare rates, try to use exactly the same coverage data for each comparison quote. If the quotes have different values for each quote it will be nearly impossible to get a fair rate comparison.

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Find discounts to get cheap insurance quotes

Companies that sell car insurance don’t always list the entire discount list in a way that’s easy to find, so the following is a list of some of the best known as well as some of the hidden credits that you can use to lower your rates.

• Memberships – Affiliation with qualifying employment or professional organizations can get you a small discount on your next renewal.
• Accident Waiver – Not a discount per se, but some insurance companies may permit one accident without raising rates as long as you don’t have any claims for a particular time prior to the accident.
• Claim-Free Discount – Drivers who don’t have accidents are rewarded with significantly better rates on car insurance quote in comparison with insureds who have frequent claims or accidents.
• Military Deployment Discount – Being on active duty in the military may qualify for rate reductions.
• Air Bag Discount – Options like air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.
• New Car Discount – Insuring a new car can cost up to 25% less since new vehicles have better safety ratings.
• Early Switch Discount – Some insurance companies reward drivers for buying a policy early. You could save around 10% when you buy car insurance online.
• E-sign Discounts – A few larger online companies may give you up to $50 for buying a policy and signing up on the web.
• Drivers Ed for Students – Cut your cost by having your teen driver enroll and complete driver’s education in school.

Discounts save money, but please remember that most of the big mark downs will not be given to all coverage premiums. Most cut individual premiums such as medical payments or collision. So even though you would think it’s possible to get free car insurance, that’s just not realistic.

Popular insurance companies and a summarized list of policyholder discounts are outlined below.

• Travelers policyholders can earn discounts including multi-policy, driver training, good student, early quote, and payment discounts.
• 21st Century includes discounts for early bird, 55 and older, anti-lock brakes, driver training, and automatic seat belts.
• State Farm offers premium reductions for passive restraint, driver’s education, multiple policy, anti-theft, good student, and defensive driving training.
• Geico has discounts for multi-policy, emergency military deployment, seat belt use, five-year accident-free, daytime running lights, defensive driver, and federal employee.
• SAFECO may offer discounts for multi-car, bundle discounts, homeowner, teen safety rewards, teen safe driver, and accident prevention training.
• AAA offers discounts including AAA membership discount, education and occupation, multi-policy, pay-in-full, good student, anti-theft, and multi-car.

Before buying, ask each insurance company which discounts can lower your rates. Some of the earlier mentioned discounts might not be available to policyholders in your area.

Tailor your car insurance coverage to you

When buying proper insurance coverage, there is no “perfect” insurance plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that may help you determine if you could use an agent’s help.

• What is PIP insurance?
• Is rental equipment covered for theft or damage?
• Do I need rental car coverage?
• Is my state a no-fault state?
• Can my teen drive my company car?
• Am I covered when driving someone else’s vehicle?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form. It is quick, free and may give you better protection.

Insurance coverage basics

Learning about specific coverages of your insurance policy helps when choosing the right coverages for your vehicles. The terms used in a policy can be ambiguous and coverage can change by endorsement.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and damage to your 2016 BMW i8.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP reimburse you for bills like EMT expenses, prosthetic devices, funeral costs, surgery and rehabilitation expenses. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. It covers both the driver and occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Comprehensive coverage

Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like hitting a deer, damage from a tornado or hurricane, hail damage, fire damage and theft. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto collision coverage

This coverage pays for damage to your i8 caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things such as scraping a guard rail, sideswiping another vehicle and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. You can also bump up the deductible to bring the cost down.

Liability insurance

This will cover damage that occurs to other’s property or people. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage protects against claims such as medical expenses, loss of income, court costs, structural damage and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford.

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Smart consumers save more

As you shop your coverage around, do not skimp on critical coverages to save a buck or two. In many cases, an accident victim reduced liability coverage limits only to discover later that the few dollars in savings costed them thousands. Your aim should be to purchase plenty of coverage at an affordable rate but still have enough coverage for asset protection.

You just read some good ideas how you can compare 2016 BMW i8 insurance auto insurance rates online. The key thing to remember is the more you quote car insurance, the better chance you’ll have of finding inexpensive car insurance. You may even find the biggest savings come from an unexpected company.

Budget-friendly car insurance is available online in addition to many insurance agents, and you should be comparing both to have the best selection. Some insurance providers may not offer rates over the internet and these small, regional companies only sell coverage through independent insurance agents.

Additional detailed information can be read at these sites:

• Auto Crash Statistics (Insurance Information Insitute)
• A Tree Fell on Your Car: Now What? (Allstate)
• Medical Payments Coverage (Liberty Mutual)
• Rental Car Insurance Tips (Insurance Information Insitute)
• Liability Insurance Coverage (Nationwide)

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