Cheaper BMW 850i Insurance in Five Minutes or Less
If finding affordable car insurance was easy, most of us would take the time to do it. But unfortunately, it's difficult for a lot of people and we always seem to pay more than we should. Insuring your BMW 850i is probably no exception.
Step One: Shop Around
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. Thanks to the internet, insurance shopping is a whole lot easier!
The best car insurance companies offer online quoting for a BMW 850i and it's very easy to compare different rates by only using one form.
To start saving, have your current policy handy and click the link below. Our short form makes it easy to enter your information and compare rates.
Quote Tip! When doing car insurance quotes for your 850i, make sure you use the exact same values for coverages and deductibles. If you use different limits, you will not be able to fairly compare rates between different companies.
Step Two: How to Save on 850i Insurance
After step one is complete, it's now time to analyze some of the other factors that can negatively impact car insurance rates for a 850i.
- The BMW 850i is a high performance vehicle. Insurance rates are higher on cars that offer larger engines, more horsepower or increased risk of accident or rollover.
- Insurance companies often give discounts to senior citizens and professional organizations, so if you're one of those, check to see if you qualify.
- Repairing accident damage generally costs more for the 850i because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- One of the easiest ways to cut your rates is to increase your comprehensive and collision deductibles. By having a higher deductible like $500 or even $1,000, you can save 30% or more on physical damage coverage.
- Sporty cars are fun to drive, and that's why you'll pay more for insurance. The tendancy to put the pedal down a little harder means a higher insurance rate for the 850i.
- 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.
- A lead foot will result in higher insurance rates. Slow down, don't get tickets and you'll pay less.
- If your BMW is equipped with safety features such as airbags, anti-lock brakes or a security system, insurance companies will often give a minor discount for those.
- If you have tended to file small claims with your car insurance company in the past, you're most likely going to pay higher premiums in the future. Consider paying minor claims out-of-pocket instead of blemishing your claim history.
- Vehicle thefts drive up the cost of everyone's insurance, but if your 850i is on the list of the most frequently stolen cars, you might be paying just a little extra.
- Check your credit rating each year and address any problem areas. Higher credit scores mean lower car insurance rates.
- 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%.
- It's very important that you allows keep coverage effective on your vehicles. Having even a one-day lapse in coverage can make your premiums jump higher.
- Bundling your auto and home insurance with the same company can often get you a discount, and just being a homeowner in itself will get you a lower rate.
Step Three: Choose a Company and Bind Coverage
If you have found a good price by comparing quotes and also made informed decisions regarding policy limits, deductibles and other policy options that are available, you can now purchase the policy and bind coverage.
The key thing to keep in mind when buying a new policy is you do not want your old policy to lapse. Make sure the effective date of the new policy is on or before the expiration date of your current policy.
If you already have a car insurance policy, then your BMW 850i will be covered as soon as your purchase it. If this is your first vehicle, you will want to make sure you have coverage in place as soon as your purchase it. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
Once your new policy has been purchased, you are required to keep the proof-of-insurance card in your vehicle at all times. This is required by state law and you can receive a citation if you cannot provide it. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
To find out more information such as auto insurance myths, rental car insurance and how to file a claim, visit the Insurance Information Institute website.
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