How to Save on Insurance for your BMW 325xi
If finding the lowest rate on car insurance was easy, most people would have no trouble paying less. But more than likely, it's challenging for most people and we always end up paying more than we want. Insuring your BMW 325xi is probably no exception.
Step One: Compare Online Rate Quotes
The old way of buying car insurance was to make multiple trips to various local agents and get strong armed into a policy that didn't necessarily fit you. Now that we have the internet, shopping for car insurance online is a snap!
The first step to finding lower BMW 325xi rates is to get quotes from all the major car insurance companies. This is fast and easy and only requires you to complete one form.
To compare rates now, have your current policy handy (if you have one) and click the link below. Complete the short form and move on to step two.
Important! If you already have liability and physical damage coverage on your 325xi, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: How to Cut Costs on 325xi Insurance
How much impact insuring your BMW has on your wallet is controlled by many different factors. Here are some ways to reduce the negatives and improve the positives.
- The BMW 325xi is a high performance vehicle. Insurance rates are higher on cars that offer larger engines, more horsepower or increased risk of accident or rollover.
- You can check your credit score for free once a year, and it's a good idea to address any problems you find. Better credit results in better insurance rates.
- 325xi replacement parts are more expensive due to the quality of the parts, so you can expect your physical damage rates to be higher to reflect the higher cost of repair.
- A deductible is the amount you pay before your company pays a comprehensive or collision claim. If you increase your deductibles, you will pay less for these coverages.
- Sports cars tend to have larger engines and higher top speeds which increases the chance of an accident.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- 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.
- 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.
- Consider taking a defensive driving course. You can often make up the cost of the course in as little as a single policy renewal.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- The less chance of injury to passengers in an accident means lower insurance rates. Vehicles with safety features like side-impact airbags, head injury protection, antilock bracks and traction control generally will be cheaper to insure.
- Reduce your rates by buying a car that is not a hot model for car thieves. Certain makes and models are more tempting than others, and high-frequency stolen vehicles get charged a higher rate.
- 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.
- Homeowners often see a break on their car insurance rates because there is a correlation between owning a home and being a responsible driver.
Step Three: Choose a Company and Bind Coverage
You've compared rates and hopefully looked over the coverages for each vehicle on your policy to make sure they're adequate. Now you can make the big decision on which company will best fulfill your needs.
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.
Coverage will extend from your current policy if you're buying a BMW 325xi, but if you don't have a policy, you will need to make sure you have coverage in place before you drive it off the dealership lot. Your existing car insurance policy will give you some coverage if you buy a new or used 325xi, but unless you are already paying for full coverage, you won't have it until you add the vehicle to your policy.
Upon completion of buying your policy, you need to print out the financial responsibility card that must be kept in your vehicle at all times. Replace any old cards and promptly replace expired cards. Depending on your state's statutes, you may be required to file an SR-22 form if you've been convicted of an uninsured accident, DUI or license suspension. Make sure your new company is aware of this requirement and files it promptly.
More Educational Resources
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.