Three Steps to Paying Less for BMW 528i Insurance
If shopping your car insurance around was fun, we'd do it much more often. Unfortunately, it's not always as easy as it sounds to get the best rate. Finding insurance for your BMW 528i that you can actually afford is probably no different.
Step One: Insurance Rate Comparison Quotes
Years ago, your local insurance agent was the only way to quote a buy a car insurance policy. Life has gotten easier!
Getting online rate quotes for a BMW 528i from all the major insurance companies is very easy and only requires you to enter your information once.
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.
Use the Same Coverages! It's really important that when doing multiple quotes for your 528i that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: Tricks to Saving Money on 528i Insurance
There are many contributing factors that determine what you pay to insure your BMW. You can help yourself (and your wallet) by paying attention to the following rate factors.
- The performance boost offered by your BMW 528i is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- Particular years and models of cars tend to be frequently stolen, and if your 528i is on that list, chances are your insurance company knows it and will ding you a little extra because of it.
- The cost to repair luxury vehicles is generally more than the cost to repair your average domestic family sedan. Everything from paint to bumpers to windshields costs more for the 528i so expect to pay more for insurance.
- Insurance companies often give discounts to senior citizens and professional organizations, so if you're one of those, check to see if you qualify.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- Most insurance companies will give you a discount on your car insurance if you also own a home. Some go even farther and give you discounts if you package your homeowners and auto insurance with them.
- 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.
- Minor driving violations such as speeding tickets can cause your rates to go up. Too many violations in a short period of time will cause your policy to be non-renewed.
- If your city or county offers a driver's safety course, find out if your insurance company will give you a discount to complete it. It could save you up to 10%.
- Teenage drivers can be very expensive to insure on newer vehicles will full coverage. You may be better off purchasing an older vehicle for your teenager and only insure it for liability.
- 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.
- If you're willing to shoulder more of the cost at claim time, consider raising your comprehensive and collision deductibles. This can easily cut 30% or more from your policy premium.
Step Three: Bind Coverage and Cancel your Old Policy
It's time to make a purchase decision based on your rate comparisions and and any policy coverage changes you wish to make. Once you are comfortable with the cost and coverages, you can finalize your purchase by paying your premium down payment.
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.
When buying a new vehicle, coverage will extend from your existing policy. But if you don't have a car insurance policy, you will want to make sure you have coverage BEFORE you drive off the lot. Comprehensive (or Other than Collision) and collision coverage will extend to your new 528i if you current have a vehicle insured with those coverages. If you aren't insured or only carry basic liability coverage, then you will be inadequately insured until you add the vehicle to your policy with full coverage.
The proof-of-insurance card that is required by state law to be carried in your vehicle can be printed out upon completion of your car insurance policy. If you're considered a high-risk driver, having been convicted of a DUI, DWI, reckless driving or had your license suspended, you may need to file a SR-22. Be sure your new company files this form with your state DMV. Failure to do so can result in losing your right to drive.
Consumer Insurance Information
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.
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