1993 BMW 7 Series Car Insurance Cost – 9 Tricks for Cheaper Prices

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me when I say many consumers feel financially strained by their auto insurance policy. Multiple insurance companies compete for your insurance dollar, and because of this it can be hard to compare auto insurance companies and get the definite lowest rate

You need to shop coverage around at least once a year because prices go up and down regularly. Just because you had the best rates on 7 Series insurance a couple years back you can probably find a better price now. So just ignore everything you know about auto insurance because you’re about to learn the proper way to find better rates and still maintain coverage.

If you are insured now or are shopping for new coverage, you can learn to reduce the price you pay and still get good coverage. Choosing the best insurance company for you is not that difficult. Vehicle owners just need to learn the tricks to compare prices online.

Don’t miss these nine discounts

Companies don’t always advertise every available discount very clearly, so we researched some of the more common as well as the least known ways to save on car insurance. If you’re not getting every credit you deserve, you’re just leaving money on the table.

  • Defensive Driving Course – Successfully completing a course teaching defensive driving skills could cut 5% off your bill if your company offers it.
  • Payment Discounts – If paying your policy premium upfront rather than paying monthly you could save 5% or more.
  • Early Switch Discount – Some insurance companies reward drivers for switching to them before your current expiration date. It’s a savings of about 10%.
  • Accident Free – Drivers with accident-free driving histories can earn big discounts as compared to drivers who are more careless.
  • Sign Online – A few companies will discount your bill up to fifty bucks just for signing your application on their website.
  • Government Employees – Employees or retirees of the government can save as much as 8% on 7 Series insurance with certain companies.
  • 55 and Retired – Mature drivers may qualify for a small decrease in premiums on 7 Series insurance.
  • Auto/Home Discount – When you have multiple policies with one company you may save 10% to 20% off each policy.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.

It’s important to understand that most of the big mark downs will not be given to your bottom line cost. Most only apply to the cost of specific coverages such as medical payments or collision. Just because it seems like you would end up receiving a 100% discount, it just doesn’t work that way.

For a list of companies who offer car insurance discounts, click this link.

When might I need help?

When buying coverage, there really is not a “perfect” insurance plan. Everyone’s situation is unique and your policy should reflect that. Here are some questions about coverages that can help discover if you might need professional guidance.

  • Does my medical payments coverage pay my health insurance deductible?
  • When do I need to add a new car to my policy?
  • Am I better off with higher deductibles on my 1993 BMW 7 Series?
  • Does my insurance cover a custom paint job?
  • Should I sign the liability waiver when renting a car?
  • How can I get high-risk coverage after a DUI?
  • Do I need medical payments coverage since I have good health insurance?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • What is the rate difference between pleasure use and commuting?
  • Why am I be forced to buy a membership to get insurance from some companies?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.

Advertising myths

Consumers can’t ignore all the ads that promise big savings from companies such as 21st Century, Allstate and State Farm. They all seem to make the same claim that you’ll save big if you change your policy.

How can each company make almost identical claims? It’s all in the numbers.

Insurance companies are able to cherry pick for the right customer that is profitable for them. For instance, a desirable insured could be a mature driver, has no driving citations, and has excellent credit. A customer who meets those qualifications will get very good rates and most likely will save quite a bit of money when switching.

Drivers who don’t qualify for these standards will be charged higher premiums and ends up with the driver buying from a lower-cost company. The ads say “customers that switch” not “everybody who quotes” save that kind of money. That’s the way companies can truthfully make the claims of big savings. That is why you need to compare as many rates as you can. It is impossible to predict the company that will give you the biggest savings on BMW 7 Series insurance.

What insurance coverages do you need?

Knowing the specifics of insurance aids in choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. These are typical coverages offered by insurance companies.

Comprehensive protection

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as hitting a bird, hitting a deer and damage from getting keyed. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is very important.

Auto collision coverage

This pays for damage to your 7 Series resulting from colliding with another car or object. A deductible applies then your collision coverage will kick in.

Collision can pay for things like hitting a mailbox, driving through your garage door, scraping a guard rail and rolling your car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to increase the deductible in order to get cheaper collision rates.

Liability coverage

Liability coverage provides protection from damage that occurs to other’s property or people in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 100/300/100 that translate to $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against things like attorney fees, repair costs for stationary objects, medical services and bail bonds. How much liability coverage do you need? That is a personal decision, but buy as much as you can afford.

Medical expense coverage

Med pay and PIP coverage reimburse you for immediate expenses for things like dental work, ambulance fees and doctor visits. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Saving money makes a lot of cents

Low-cost 1993 BMW 7 Series insurance is attainable online as well as from independent agents, so compare prices from both in order to have the best price selection to choose from. Some companies don’t offer the ability to get a quote online and most of the time these smaller companies sell through independent agents.

As you prepare to switch companies, it’s not a good idea to sacrifice coverage to reduce premiums. In many instances, an accident victim reduced comprehensive coverage or liability limits only to find out they didn’t purchase enough coverage. Your goal should be to find the BEST coverage at the best price, not the least amount of coverage.

Throughout this article, we presented a lot of tips how to save on insurance. The most important thing to understand is the more you quote, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from the smaller companies. Smaller companies may only write in your state and offer lower rates than their larger competitors like State Farm or Progressive.

More information can be found on the following sites: