Guide to Buying BMW 128i Insurance for Less
If searching for lower car insurance rates was a good time, we'd have no problem finding the best rate. But the reality is, it's a chore for most people and we seem to always end up paying more than we want to. Finding insurance for your BMW 128i that you can actually afford is probably no different.
Step One: Compare Rates from Multiple Companies
If it's been a few years since you shopped for car insurance, you might still think the only way to buy is from a local agent. Life has gotten easier!
Comparing insurance rates for a BMW 128i only require you to enter your information once. You'll receive multiple quotes and can easily compare rates.
Start a free rate quote comparison now by clicking the link below. Once you complete the short form, you'll be able to compare rates and then move on to our next section on how to lower rates even further.
Use the Same Coverages! It's really important that when doing multiple quotes for your 128i 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: How to Insure your 128i for Less
What you actually pay to insure your BMW is determined by many factors, some of which you have no control over.
- The performance boost offered by your BMW 128i is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- If you belong to a professional organization, check to see if that can earn you a discount. If you're over the age of 55, check to see if they have a senior citizen discount as well.
- Owning a luxury vehicle like your 128i means you'll pay a little more for insurance due to the higher cost of repair parts.
- 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.
- Even if you don't take advantage of the sporty nature of the 128i, other people will and you'll pay more for insurance based on the higher rating class of the vehicle.
- The easiest way to INCREASE your car insurance rates is to add a teenage driver to your policy. There aren't many ways to prevent a rate increase, but if you can rate them on an older vehicle, it can help.
- If you have a speeding ticket or other moving violation, you could be charged more for insurance. If you get a ticket, find out if your county or state offers a defensive driving course that will void the ticket upon completion.
- 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.
- 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.
- Particular years and models of cars tend to be frequently stolen, and if your 128i is on that list, chances are your insurance company knows it and will ding you a little extra because of it.
- Good credit will get you lower car insurance rates. Evidence correlates good credit with low claims, so the better you maintain your credit level, the less risk you are to your company.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- 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.
- 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.
Step Three: Bind Coverage and Cancel your Old Policy
Once you have compared identical rate quotes for your 128i and made a decision on deductibles, coverages and other policy options, you are ready to buy your policy with the new company.
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. If your current policy has any vehicle with full coverage (comprehensive and collision), then your new 128i will have that coverage extended to it. If you only have liability coverage on your policy, then you have no physical damage coverage on your new purchase.
All states require you to keep the proof-of-insurance or financial responsibility card in your vehicle at all times. Failure to produce this document can result in a citation. If an SR-22 is required due to a reckless driving conviction, DUI or conviction of driving without insurance, make sure your new company is aware of that. Not filing a court-ordered SR-22 can result in suspension of your driver's license.
Additional 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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