2014 BMW i3 Insurance Quotes – 10 Policy Discounts

Looking for lower insurance coverage rates for your BMW i3? Pretty sure you bought an underperforming, overpriced insurance coverage policy? You’re preaching to the choir because there are many people just like you.

Online insurance companies like Progressive, State Farm and Geico all claim big savings with ad campaigns and consumers find it hard to ignore the flying pigs and cute green geckos and take the time to shop coverage around.

How to get auto insurance price quotes

To get low cost insurance quotes, there a variety of ways to compare rate quotes from many different insurance companies. The best method to compare rates is simply to get online rate quotes. It is quite easy and can be accomplished in just a few minutes using one of these methods.

One of the fastest ways to get the best comparison quotes is an all-inclusive rate comparison like this one (opens in new window). This style of form keeps you from doing repetitive form entry for every auto insurance company. One form will return price quotes from all major companies.

A harder way to get quotes online is to manually visit each company website and complete a new quote form. For sake of this example, we’ll assume you want to compare State Farm, 21st Century and Liberty Mutual. You would need to go to each individual site to enter your coverage information, which is why the first method is more popular. For a list of companies in your area, click here.

It doesn’t matter which method you choose, just do your best to use the same coverage limits and deductibles for each quote you get. If you have different values for each quote it’s impossible to determine which rate is truly the best. Having just a slight variation in insurance coverages may result in a large different in cost. Just keep in mind that comparing more rates from different companies will increase your chances of finding a lower rate than you’re paying now.

Tailor your insurance coverage to you

When it comes to choosing the right insurance coverage, there isn’t really a “best” method to buy coverage. Everyone’s needs are different and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine if you will benefit from professional help.

• Do I pay less for low miles?
• When should I drop full coverage on my 2014 BMW i3?
• Am I covered by my spouse’s policy after a separation?
• When do I need to add a new car to my policy?
• Is business equipment covered while in my vehicle?
• What is covered by UM/UIM coverage?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier

Auto insurance coverages

Having a good grasp of car insurance aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and reading a policy is terribly boring. Shown next are typical coverage types found on most car insurance policies.

Auto liability – This coverage provides protection from damages or injuries you inflict on a person or their property by causing an accident. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Some companies may use a combined limit which limits claims to one amount without having the split limit caps.

Liability insurance covers claims such as repair costs for stationary objects, medical expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision – Collision insurance pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things like damaging your car on a curb, hitting a mailbox and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. You can also bump up the deductible to bring the cost down.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance 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 claims such as rock chips in glass, fire damage and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses for things like nursing services, surgery, X-ray expenses, ambulance fees and EMT expenses. They are often used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.