2018 BMW i3 Insurance Quotes – 10 Savings Tips

Trying to find lower insurance rates for your BMW i3? Feel like you have an overpriced insurance policy? It’s a common feeling and many drivers have buyer’s remorse.

Popular companies such as Allstate and Progressive increase brand awareness with catchy ads and it is challenging if not impossible to see through the cute green geckos and mayhem and effectively compare rates to find the best deal.

It’s smart to get comparison quotes on a regular basis because insurance prices are variable and change quite frequently. If you had the best rate for i3 insurance at your last renewal you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because we’re going to demonstrate the things you must know in order to lower your rates without sacrificing coverage.

More discounts mean affordable premiums

Insurance coverage can be pricey, but you may find discounts that many people don’t even know exist. Certain reductions will be credited at the time of purchase, but some need to be asked about in order for you to get them.

• Accident-Free Discounts – Insureds who avoid accidents and claims can earn big discounts in comparison to policyholders that have many claims.
• Driving Data Discount – Insureds that choose to allow companies to look at where and when they drive by using a telematic data system such as Progressive’s Snapshot could see a rate decrease if they have good driving habits.
• Auto/Life Discount – Not all insurance companies offer life insurance, but some may give you a discount if you purchase life insurance.
• Waiver for an Accident – This one isn’t a discount, but certain companies allow you one accident before your rates go up so long as you haven’t had any claims for a particular time prior to the accident.
• Low Mileage – Low mileage vehicles could qualify for cheaper insurance coveragerates.
• Discount for Multiple Policies – If you insure your home and vehicles with the same insurance company you could earn a discount of as much as 10 to 15 percent.
• Passive Restraints and Air Bags – Factory options such as air bags and/or automatic seat belt systems may qualify for discounts of up to 25% or more.
• Active Military Service – Being deployed with a military unit could qualify you for better prices.
• Early Payment Discounts – If you can afford to pay the entire bill as opposed to paying monthly you can actually save on your bill.
• Government Employees – Active or retired federal employment could cut as much as 10% off for i3 insurance with some insurance coverage companies.

Drivers should understand that most credits do not apply to your bottom line cost. Some only apply to specific coverage prices like physical damage coverage or medical payments. Even though the math looks like it’s possible to get free car insurance, it just doesn’t work that way.

The best insurance coverage companies and a partial list of their discounts are detailed below.

• Farm Bureau discounts include multi-policy, good student, 55 and retired, renewal discount, and safe driver.
• Liberty Mutual offers discounts for newly retired, teen driver discount, new graduate, multi-car, good student, and new move discount.
• State Farm policyholders can earn discounts including anti-theft, multiple policy, safe vehicle, defensive driving training, Drive Safe & Save, student away at school, and passive restraint.
• Auto-Owners Insurance has savings for air bags, good student, group or association, paid in full, and company car.
• Geico may offer discounts for good student, multi-vehicle, multi-policy, federal employee, defensive driver, and membership and employees.
• SAFECO includes discounts for anti-theft, accident prevention training, teen safe driver, multi-car, safe driver, and drive less.

It’s a good idea to ask each company how many discounts you can get. Some discounts listed above might not be offered in every state. If you would like to choose from a list of companies who offer cheap insurance coverage quotes, click here to view.

The quickest method we recommend to compare policy rates is to take advantage of the fact most insurance companies allow for online access to give free rates quotes. The only thing you need to do is provide the companies a bit of rating information such as if it has an anti-theft system, how many miles driven, marital status, and the year, make and model of vehicles. Your insurance information gets sent immediately to multiple insurance coverage providers and they return quotes quickly.

It’s not one size fits all

When choosing proper insurance coverage for your personal vehicles, there isn’t really a one size fits all plan. Every situation is different so this has to be addressed. For example, these questions can help discover if you might need an agent’s assistance.

• Is pleasure use cheaper than using my 2018 BMW i3 to commute?
• Is upholstery damage covered by car insurance?
• Should I put collision coverage on all my vehicles?
• Do I need PIP coverage since I have good health insurance?
• Is business equipment covered while in my vehicle?
• Should I buy more coverage than the required minimum liability coverage?
• Is my custom paint covered by insurance?
• How much liability do I need to cover my assets?
• Am I getting all the discounts available?
• What is an SR-22 filing?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area.

Specific coverages for a BMW i3

Understanding the coverages of a insurance policy aids in choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverage types found on the average insurance policy.

Collision protection

This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things such as sustaining damage from a pot hole, colliding with a tree and crashing into a building. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.

Protection from uninsured/underinsured drivers

This protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these coverages are set the same as your liablity limits.

Medical expense insurance

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for pain medications, X-ray expenses, chiropractic care, hospital visits and EMT expenses. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Auto liability

This can cover damages or injuries you inflict on people or other property by causing an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Another option is a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against things like loss of income, medical expenses and bail bonds. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive (Other than Collision)

This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as hail damage, hitting a bird, damage from a tornado or hurricane and rock chips in glass. The highest amount your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

At the end of the day…

While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced liability limits or collision coverage and discovered at claim time that the savings was not a smart move. The ultimate goal is to find the BEST coverage for the lowest price while still protecting your assets.

Cheap 2018 BMW i3 insurance is attainable from both online companies and from local insurance agents, so you need to shop insurance with both in order to have the best chance of saving money. Some companies don’t offer online quoting and these regional carriers work with local independent agencies.

We’ve covered a lot of tips how to save on 2018 BMW i3 insurance. The key thing to remember is the more rate comparisons you have, the better chance you’ll have of finding affordable insurance. You may even discover the best prices are with some of the smallest insurance companies. Regional companies may cover specific market segments cheaper as compared to the big name companies such as Allstate and Progressive.

Much more information about insurance can be read at the links below

• State Car Insurance Guides (Geico)
• Prom Night Tips for Teen Drivers (State Farm)
• Distracted Driving (Insurance Information Insitute)
• Should I Buy a New or Used Car? (Allstate)