How to Insure a BMW 135i like a Tightwad
If shopping for auto insurance was more enjoyable, it would get done more often. But it's actually not a real enjoyable process for the majority of people and we always seem to end up paying too much. Finding insurance for your BMW 135i that you can actually afford is probably no different.
Step One: Compare Rates
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. But you can now comparison shop and buy direct online!
You can compare insurance rates for a BMW 135i simply and quickly just by filling out one form. This allows you to quote the same coverages with multiple companies and pick the lowest rate.
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Important Tip! In order to accurately compare rates for your 135i, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Best Ways to Lower your 135i Insurance Cost
Now that you have several rates to compare (since you did compare rates above, right?), we will now show you some additional ways you can lower your 135i insurance rates.
- The performance boost offered by your BMW 135i is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- For some reason, car theives target particular makes and models more than others. If your 135i is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- Let's face it, you aren't driving a 135i because of the fuel economy. You like the looks and performance and you'll pay a little more for insurance because you're driving a sports car.
- If you can afford to pay for small claims like a broken windshield out of pocket, it will keep small claims off your record and give you a claim-free discount.
- Renters will find they may be paying more for insurance as compared to homeowners. Owning a home can often get you a small discount on your car insurance.
- Air bags, antilock brakes, traction control, and stability control all help lower the cost of insurance due to reducing the risk of injury in an accident.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- A single speeding ticket can cost you several hundreds of dollars over the next three years thanks to increased car insurance rates. Slow down and drive safely.
- Having recently completed a class in driver's safety could earn you a discount of 5% to 10%. Check with your insurance company to see if they offer that credit.
- Car insurance rates for a teen driver on a BMW 135i will be expensive no matter what kind of coverage you have. But if you don't need comprehensive and collision, consider dropping those to save money.
- How's your credit score? If it's good you will pay a lower rate than your poor credit counterparts. Work on improving weak credit and you will eventually see your car insurance bill go down.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
Step Three: Bind Coverage and Cancel your Old Policy
Purchasing an insurance policy is more than just clicking a button. You need to have funds available to make payment and you need to be sure that the coverages are adequate for your personal situation.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
Before you drive your BMW 135i home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new 135i at risk as soon as you drive away.
At the end of buying your policy, you will be able to print out a new proof-of-insurance card to place in your vehicle. This card is required by law and must be produced if requested by law enforcement. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
The Insurance Information Institute has a great resource of car insurance articles where you can learn more about coverages and money saving tips. Visit iii.org.
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