Cheap 2008 BMW 1 Series Car Insurance Rates

Searching for the cheapest insurance rates for your BMW 1 Series? Saving money on insurance is difficult for consumers not familiar with shopping for insurance online. People have so many choices that it can be a real challenge to find lower rates.

Cut your insurance rates with discounts

Companies offering auto insurance don’t always advertise every available discount very clearly, so we break down both well-publicized and the harder-to-find savings tricks you should be using.

  • Multiple Vehicles – Buying coverage for multiple vehicles on the same insurance policy qualifies for this discount.
  • Discount for New Cars – Insuring a new car can be considerably cheaper since new cars are generally safer.
  • 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for reduced rates on 1 Series insurance.
  • Anti-lock Brakes – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.
  • Auto/Home Discount – When you combine your home and auto insurance with the same company you will save at least 10% off all policies.
  • Paperless Signup – A few companies will give a small break for buying your policy digitally online.
  • Own a Home – Being a homeowner may earn you a small savings because owning a home demonstrates responsibility.
  • Distant Student – Kids in college who live away from home without a vehicle on campus may be able to be covered for less.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to complete a driver education course in school.

Consumers should know that most credits do not apply to all coverage premiums. Most only cut specific coverage prices like liability, collision or medical payments. So when the math indicates you can get free auto insurance, companies don’t profit that way.

Car insurance companies that may offer these discounts are:

Check with each insurance company which discounts they offer. Some discounts may not apply everywhere.

BMW 1 Series insurance rates have many determining factors

It’s important that you understand the factors that play a part in calculating your car insurance rates. When you know what positively or negatively determines base rates enables informed choices that could result in big savings.

  • Men pay higher rates – The statistics show women are more cautious behind the wheel. However, don’t assume that men are worse drivers. Both sexes are in accidents at about the same rate, but the men cause more damage and cost insurance companies more money. Men also statistically get cited for more serious violations such as DWI and reckless driving.
  • Your location is important – Choosing to live in small towns and rural areas is a positive aspect when buying car insurance. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft. Drivers in populated areas tend to have more traffic problems and longer commute times. Longer commute distances translates into higher accident risk.
  • Liability insurance protects assets – The liability section of your policy is the coverage that protects you if ever you are found liable for personal injury or accident damage. Liability insurance provides legal defense which can cost thousands of dollars. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not cut corners here.
  • Do you work long hours in a high stress job? – Did you know your job can affect your rates? Occupations like real estate brokers, social workers and accountants have higher rates than average because of job stress and long work days. On the flip side, occupations like farmers, athletes and homemakers get better rates on 1 Series insurance.
  • Credit scores impact car insurance rates – Your credit history is a huge factor in calculating your car insurance rates. Therefore, if your credit rating is not that good, you could be paying less to insure your 2008 BMW 1 Series by improving your rating. Drivers with high credit ratings tend to file fewer claims and have better driving records than those with lower credit scores.

You are unique and your auto insurance should be too

When choosing coverage, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs.

For instance, these questions may help you determine whether or not you might need an agent’s assistance.

  • Am I covered when using my vehicle for business?
  • Do I really need UM/UIM coverage?
  • Is my teen driver covered when they drive my company car?
  • Do I have coverage when using my vehicle for my home business?
  • Does my car insurance cover rental cars?
  • I don’t drive much so do I pay less?

If you’re not sure about those questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form.

Auto insurance policy specifics

Having a good grasp of a auto insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement.

Liability

Liability insurance will cover injuries or damage you cause to other people or property by causing an accident. This coverage protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 which means a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.

Liability coverage protects against claims such as funeral expenses, medical services and pain and suffering. How much liability should you purchase? That is your choice, but buy as large an amount as possible.

Comprehensive or Other Than Collision

This will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as vandalism, fire damage, damage from getting keyed and a tree branch falling on your vehicle. The maximum payout your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

UM/UIM Coverage

This protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your BMW 1 Series.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for surgery, pain medications and funeral costs. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision protection

This covers damage to your 1 Series resulting from a collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for things like hitting a parking meter, sideswiping another vehicle and rolling your car. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to increase the deductible to bring the cost down.

Shop Smart and Save

We’ve covered many ways to get a better price on 2008 BMW 1 Series insurance. The most important thing to understand is the more rate comparisons you have, the better your comparison will be. You may be surprised to find that the lowest priced car insurance comes from a lesser-known regional company.

Discount insurance can be bought online and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies do not offer you the ability to get quotes online and these small, regional companies work with independent agents.

As you prepare to switch companies, you should never buy poor coverage just to save money. There are many occasions where someone sacrificed liability coverage limits and discovered at claim time that the few dollars in savings costed them thousands. Your strategy should be to buy enough coverage at the best price.

Additional car insurance information is located below: