Three Easy Steps to Lower BMW 640i Insurance Rates
If shopping for auto insurance was more enjoyable, it would get done more often. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. You probably feel the same way when trying to find cheaper coverage for your BMW 640i.
Step One: Compare Rates
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. Welcome to the 21st century!
Comparing apples-to-apples price quotes for your BMW 640i is made easy by only requiring one form to be completed. This will shop your coverage with multiple companies and allow you to easily compare rates.
To start, click the link below to begin entering your information. After you complete the form, you will receive comparison rates from different companies so you easily determine if you can save money.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your 640i.
Step Two: Tried and True Ways to Save on 640i Insurance
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 640i insurance rates.
- Since your vehicle is higher performance than average, you can expect to pay a little more for coverage. To keep your costs lower, you may consider trading for a lower performance vehicle that has more moderate rates.
- 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.
- Repairing accident damage generally costs more for the 640i because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
- 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.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- Speeding tickets and other violations can negatively impact your insurance rates for up to three years. Get too many tickets and you'll be shopping for a new car insurance company.
- If you've recently completed a driver's training or safety course, tell your insurance company. You may qualify for a 5-10% discount.
- Gaps in insurance coverage will cause problems for your insurance rates. Don't let your policy expire without having new coverage in place.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- For some reason, car theives target particular makes and models more than others. If your 640i is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- If you have any teenage drivers in your household, expect to fork out quite a bit more for insurance. Rating them on a low profile vehicle with liability only coverage is the best way to save money.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
Step Three: Purchase a New Policy
Knowing which company to insure your 640i with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
You can cancel a policy at any time, but just remember to make the effective date of the replacement policy the exact same as the date you cancel your old policy. You do not want any gaps in coverage between policies.
If you don't currently have a car insurance policy, make sure you have coverage in force before driving your BMW off the lot. But if you already have a policy, you will have coverage extended to your new car from your existing policy. 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 you finish buying your new policy, you will need to print out the proof-of-insurance card that is provided by your new company. This card is proof that you meet the state's minimum liability limits and is required to be kept in your vehicle. 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 read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.