Top Tips to Paying Less to Insure a BMW 760Li

Drivers have a choice when trying to find affordable BMW 760Li insurance. They can either waste time contacting agents to compare prices or use the internet to get rate quotes.

There are more efficient ways to find auto insurance online and you need to know the quickest way to compare rates for a BMW and find the best price possible from both online companies and local agents.

Auto Insurance Comparisons

There are a variety of methods to compare auto insurance quotes, but one way is less labor-intensive and much quicker. You could waste time talking about coverages with insurance companies in your area, or you could use online quoting to achieve your goal.

Many insurance companies enroll in a system that enables customers to enter their coverage request one time, and each company returns a rated price based on that data. This saves time by eliminating repetitive form submissions to each individual auto insurance company.

To compare pricing click here to open in new window.

The single downside to using this type of system is you are unable to specify which providers you want to price. If you wish to select specific insurance companies to request quotes from, we put together a list of companies who write auto insurance in your area. View list of insurance companies.

It doesn’t matter which method you choose, just make absolute certain that you use identical coverage limits and deductibles on every quote you get. If you are comparing different limits and deductibles on each one you will not be able to determine the best price for your BMW 760Li.

Discounts are available to cut your rates

The cost of insuring your cars can be expensive, but there could be available discounts to help offset the cost. Certain discounts will be triggered automatically at the time of quoting, but a few need to be specially asked for before they will apply. If they aren’t giving you every credit available, you are paying more than you should be.

  • Passive Restraints and Air Bags – Cars that have air bags or automatic seat belts can receive discounts of 20% or more.
  • Save over 55 – If you’re over the age of 55, you may be able to get a small decrease in premiums for 760Li coverage.
  • Accident Forgiveness – A few companies permit an accident without raising rates so long as you haven’t had any claims prior to the accident.
  • Drivers Ed for Students – Require your teen driver to enroll in driver’s education if offered at their school.
  • Save with a New Car – Adding a new car to your policy can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Homeowners Savings – Simply owning a home can save you money because owning a home is proof that your finances are in order.
  • Accident Free – Drivers who don’t have accidents pay much less as compared to accident-prone drivers.
  • Anti-theft System – Cars that have factory anti-theft systems help deter theft and will save you 10% or more.
  • College Student – Kids in college living away from home attending college and don’t have a car can receive lower rates.
  • Driver Safety – Taking part in a course teaching defensive driving skills could possibly earn you a 5% discount if you qualify.

Keep in mind that most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. So even though they make it sound like you could get a free auto insurance policy, you’re out of luck. But all discounts will reduce your premiums.

To see a list of providers offering auto insurance discounts, follow this link.

Everyone needs different coverages

When it comes to buying the best auto insurance coverage, there is no single plan that fits everyone. Each situation is unique.

Here are some questions about coverages that may help highlight if you might need an agent’s assistance.

  • When should I remove comp and collision on my BMW 760Li?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Can I drive in Mexico and have coverage?
  • Am I covered when driving a rental car?
  • How can I get high-risk coverage after a DUI?
  • What companies insure drivers after a DUI or DWI?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I really need UM/UIM 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 don’t have a local agent, simply complete this short form. It is quick, free and you can get the answers you need.

Some factors that can determine what BMW 760Li insurance costs

An important part of buying insurance is that you know the factors that go into determining the price you pay for auto insurance. Knowing what influences your rates empowers consumers to make smart changes that can help you get lower auto insurance prices.

Listed below are a few of the “ingredients” used by your company to calculate your rates.

  • Extra coverages can waste money – There are many add-on coverages that can waste your money on your auto insurance policy. Insurance for rental car reimbursement, accident forgiveness and additional equipment coverage are some examples. These may sound like a good investment when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
  • Higher safety ratings means cheaper insurance – Cars with high safety ratings are cheaper to insure. These vehicles reduce injuries and better occupant protection translates into fewer and smaller insurance claims passed on to you as lower rates. If your BMW 760Li earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
  • Optional equipment can affect rates – Purchasing a vehicle that has an advanced theft prevention system can help bring down rates. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your vehicle from being stolen.
  • Better credit scores mean better rates – Credit score is a big factor in your rate calculation. If your credit score is lower than you’d like, you could pay less to insure your BMW 760Li by spending a little time repairing your credit. People with good credit tend to be more responsible than drivers with poor credit.
  • Are you male or female? – The statistics show women tend to be less risk to insure than men. However, don’t assume that women are better drivers. Women and men tend to get into accidents at a similar rate, but men cause more damage and cost insurance companies more money. Men also have more aggressive citations like reckless driving and DUI.
  • Where you reside plays a part – Choosing to live in a small town is a positive aspect when it comes to auto insurance. Lower population means a lower chance of having an accident and a lower car theft rate. Drivers in populated areas have to deal with more traffic problems and longer commute times. More time on the road means more change of being in an accident.

Are you falling for claims of savings?

Consumers can’t get away from ads that promise big savings from the likes of Progressive, GEICO, Allstate and State Farm. All the companies say the same thing that you’ll save big if you switch your coverage to them.

How do they all claim to save you money? It’s all in the numbers.

Insurance companies are able to cherry pick for the type of customer that is profitable for them. A good example of a driver they prefer could possibly be between the ages of 40 and 55, insures multiple vehicles, and chooses high deductibles. Any new insured who fits that profile will get the preferred rates and as a result will probably cut their rates substantially.

Potential insureds who don’t measure up to these standards will be charged a more expensive rate and this can result in the driver buying from a lower-cost company. The ads say “customers that switch” not “everybody who quotes” save that much money. That’s why insurance companies can make those claims.

That is why you need to get as many quotes as possible. Because you never know which auto insurance company will give you the biggest savings.

In Summary

When you buy insurance online, it’s not a good idea to reduce needed coverages to save money. There are a lot of situations where consumers will sacrifice uninsured motorist or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.

Lower-priced BMW 760Li insurance can be purchased both online and also from your neighborhood agents, and you should compare price quotes from both in order to have the best chance of saving money. A few companies may not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.

We just showed you many ways to lower your BMW 760Li insurance rates. The key concept to understand is the more providers you compare, the better your comparison will be. You may even find the best prices are with the smaller companies.