2005 BMW 7 Series Insurance Quotes – 8 Discounts for Best Rates

Trying to find better insurance prices for your BMW 7 Series can turn out to be a painful process, but you can follow a few tricks to find lower rates. There is a right way and a wrong way to shop for car insurance and you need to know the quickest way to get price quotes for a new or used BMW and find the lowest possible price.

It’s a good habit to shop coverage around quite often because insurance rates fluctuate regularly. Even if you got the best rates for 7 Series insurance last year you can probably find a lower rate today. Starting now, forget all the misinformation about car insurance because you’re going to get a crash course in the proper way to save money, get proper coverage and the best rates.

Finding affordable coverage is not rocket science. If you have a policy now or need new coverage, you can learn to reduce the price you pay and still get good coverage. Drivers only need to know the most efficient way to find the lowest price over the internet.

Compare Quotes for Insurance Coverage

Finding lower insurance coverage rates is not rocket science. Just spend a little time comparing rates online with multiple companies. This can be accomplished in a couple of different ways.

  • The most efficient way to find the lowest comparison rates is an all-inclusive rate comparison (click to open form in new window). This method keeps you from doing multiple quote forms for each company. A single, simple form will get you price quotes from all major companies.It’s the quickest way to get rates.
  • A harder way to get comparison quotes is to manually visit the website for every company you want to comare and complete a new quote form. For example, we’ll assume you want rates from Auto-Owners, Geico and Farmers. To get each rate you have to visit each site to enter your coverage information, which is why the first method is quicker.

    To view a list of companies in your area, click here.

  • The least efficient way to get comparison rates is to spend time driving to and from local insurance agencies. The ability to buy insurance online has reduced the need for local agents unless you have a need for the trained guidance only provided by licensed agents. However, consumers can price shop your coverage online but buy from a local insurance agent and you’ll learn how to do that later.

Whichever way you use, make darn sure you compare exactly the same deductibles and coverage limits for every company. If you are comparing different values for each quote it’s not possible to make a fair comparison for your BMW 7 Series.

Companies offer discounts so take them!

Companies don’t always publicize every discount in an easy-to-find place, so we took the time to find both well-publicized as well as the least known discounts you could be receiving. If they aren’t giving you every credit you qualify for, you’re just leaving money on the table.

  • Homeowners Pay Less – Being a homeowner can save you money because maintaining a house is proof that your finances are in order.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in high school.
  • 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for reduced rates for 7 Series insurance.
  • Accident Waiver – Some insurance companies will forgive one accident before your rates go up if your claims history is clear for a set time period.
  • New Car Discount – Putting insurance coverage on a new car can save up to 30% since new cars are generally safer.
  • Bundle and Save – If you insure your home and vehicles with one insurance company you may save approximately 10% to 15%.
  • Defensive Driving Course – Completing a course in driver safety could cut 5% off your bill if your company offers it.
  • Passive Restraints and Air Bags – Factory air bags or automatic seat belts can get savings of more than 20%.

It’s important to understand that some credits don’t apply to the entire cost. A few only apply to individual premiums such as liability, collision or medical payments. Just because you may think having all the discounts means you get insurance for free, you’re out of luck.

To see a list of insurers offering insurance discounts, click this link.

Do I just need basic coverages?

When buying proper insurance coverage for your personal vehicles, there is no perfect coverage plan. Every situation is different.

For example, these questions could help you determine if your situation might need professional guidance.

  • When would I need rental car insurance?
  • Why does it cost so much to insure a teen driver?
  • What discounts do I qualify for?
  • Are there companies who specialize in insuring high-risk drivers?
  • Do I need roadside assistance coverage?
  • Is a fancy paint job covered?
  • Are all vehicle passengers covered by medical payments coverage?
  • Is business equipment covered while in my vehicle?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and may give you better protection.

Save $469 a year. For real?

Drivers get pounded daily by advertisements that promise big savings from companies such as Allstate, Geico and Progressive. They all seem to have a common claim that you’ll save big after switching your policy.

How do they all say the same thing? It’s all in the numbers.

All companies have a preferred profile for the type of customer they prefer to insure. A good example of a profitable customer might be profiled as a mature driver, has no tickets, and has a high credit rating. A customer getting a price quote who fits that profile will get the preferred rates and therefore will save when switching.

Drivers who don’t measure up to the “perfect” profile must pay a more expensive rate which leads to the driver buying from a lower-cost company. Company advertisements say “drivers who switch” but not “drivers who get quotes” save that much. That’s the way insurance companies can state the savings. This illustrates why drivers should get as many quotes as possible. It’s impossible to know which insurance companies will provide you with the cheapest BMW 7 Series insurance rates.

Insurance coverage breakdown

Knowing the specifics of insurance aids in choosing appropriate coverage and the correct deductibles and limits. Insurance terms can be impossible to understand and reading a policy is terribly boring.

Liability auto insurance – Liability insurance will cover damages or injuries you inflict on other’s property or people by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability can pay for things such as bail bonds, legal defense fees, repair costs for stationary objects, loss of income and pain and suffering. How much coverage you buy is up to you, but you should buy higher limits if possible.

Coverage for uninsured or underinsured drivers – Your UM/UIM coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your BMW 7 Series.

Because many people have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.

Collision coverages – This covers damage to your 7 Series from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims like crashing into a ditch, colliding with a tree and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive insurance – This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like hitting a bird, damage from getting keyed and hail damage. The most you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Coverage for medical expenses – Coverage for medical payments and/or PIP kick in for expenses such as surgery, nursing services, funeral costs, prosthetic devices and chiropractic care. They are used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

In conclusion

When buying insurance coverage, you should never buy lower coverage limits just to save a few bucks. There are many occasions where someone sacrificed full coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your strategy should be to get the best coverage possible at the best price while not skimping on critical coverages.

Insureds change insurance companies for a variety of reasons including denial of a claim, poor customer service, questionable increases in premium or even high rates after DUI convictions. It doesn’t matter why you want to switch switching insurance coverage companies can be easy and end up saving you some money.

In this article, we presented many ideas to reduce 2005 BMW 7 Series insurance prices online. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. Consumers could even find that the best prices are with a small mutual company.

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