Cheaper 2015 BMW i8 Car Insurance Rates

Trying to find lower insurance coverage rates for your BMW i8? Are you a victim of high-priced insurance coverage? Trust us when we tell you there are a lot of people just like you who feel imprisoned by their insurance coverage policy. Insurance companies such as State Farm, Progressive and Geico persitently shower you with fancy advertisements and it can be hard to ignore the promise of big savings and take the time to shop coverage around.

Comparison of Insurance Coverage

Getting a lower price on 2015 BMW i8 insurance is not rocket science. The only thing you need to do is take the time to get quotes from different insurance companies. This is very easy and can be done in a couple of different ways.

  • One of the best ways to find low rates is a comparison rater form (click to open form in new window). This type of form eliminates the need for separate quotes for each company you want a rate for. In just a few minutes this one form gets you coverage quotes from insurance coverage companies with the best prices.
  • A more time consuming way to get comparison quotes is spending the time to visit the website of each company to complete their respective quote request forms. For examples sake, let’s assume you want to compare Progressive, Allstate and Liberty Mutual. To find out each rate you need to take the time to go to each site to input your insurance information, which is why most consumers use the first method. For a handy list of car insurance company links in your area, click here.

Which method you use is up to you, but be sure to compare apples-to-apples deductibles and coverage limits on every quote you get. If you compare different deductibles it will be impossible to find the best deal for your BMW i8.

Best discounts on 2015 BMW i8 coverage

Properly insuring your vehicles can get expensive, but companies offer discounts that can drop the cost substantially. Larger premium reductions will be automatically applied when you purchase, but some may not be applied and must be requested specifically before you get the savings. If you aren’t receiving every discount available, you’re just leaving money on the table.

  • Low Mileage Discounts – Keeping the miles down on your BMW could qualify for better rates on cars that stay parked.
  • Multi-policy Discount – If you have multiple policies with one company you could get a discount of up to 20% off your total premium.
  • E-sign – A few companies will discount your bill up to fifty bucks simply for signing digitally online.
  • Auto/Life Discount – Companies who offer life insurance give a discount if you purchase auto and life insurance together.
  • Multiple Cars – Buying coverage for all your vehicles on one policy could earn a price break for each car.
  • Clubs and Organizations – Belonging to a qualifying organization could qualify you for a break when buying auto insurance on i8 coverage.
  • Drive Safe and Save – Insureds without accidents may receive a discount up to 45% less on i8 coverage than drivers with accidents.
  • No Charge for an Accident – A few companies will forgive one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.
  • Homeowners Discount – Owning a home can help you save on auto insurance because of the fact that having a home requires personal responsibility.

Drivers should understand that most discounts do not apply to your bottom line cost. Most cut the price of certain insurance coverages like medical payments or collision. So when the math indicates all the discounts add up to a free policy, you won’t be that lucky. Any qualifying discounts will bring down the cost of coverage.

Insurance companies that possibly offer these discounts are:

Double check with every prospective company which discounts they offer. Discounts might not be offered in your state.

Tailor your coverage to you

When it comes to buying coverage, there really is not a single plan that fits everyone. Coverage needs to be tailored to your specific needs so your insurance needs to address that. Here are some questions about coverages that might point out whether your personal situation will benefit from professional help.

  • Do I need replacement cost coverage?
  • Do I need PIP (personal injury protection) coverage in my state?
  • When should I not file a claim?
  • When can my company non-renew my policy?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Can my teen driver be rated on a liability-only vehicle?
  • How high should my uninsured/underinsured coverage be in my state?
  • Should I drop comprehensive coverage on older vehicles?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier It only takes a few minutes and can help protect your family.

Specifics of your insurance policy

Learning about specific coverages of a insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Listed below are the usual coverages available from insurance companies.

UM/UIM Coverage – Your UM/UIM coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your BMW i8.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Comprehensive or Other Than Collision – This 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 protects against claims like falling objects, damage from flooding, fire damage and rock chips in glass. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability coverage – This protects you from damage that occurs to other people or property by causing an accident. This coverage protects you from legal claims by others, and does not provide coverage for 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. As an example, you may have liability limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.

Liability insurance covers things like medical expenses, funeral expenses, court costs, emergency aid and legal defense fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible.

Medical costs insurance – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like dental work, ambulance fees and prosthetic devices. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision – This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for things such as crashing into a ditch, hitting a mailbox, colliding with a tree, crashing into a building and rolling your car. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. It’s also possible to bump up the deductible to bring the cost down.

In the end, you save

As you go through the steps to switch your coverage, it’s not a good idea to buy poor coverage just to save money. There are many occasions where someone sacrificed collision coverage and learned later that the few dollars in savings costed them thousands. Your focus should be to get the best coverage possible at a price you can afford while still protecting your assets.

Throughout this article, we presented some good ideas how you can get a better price on 2015 BMW i8 insurance. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may be surprised to find that the best prices are with some of the lesser-known companies. Smaller companies may cover specific market segments cheaper than the large multi-state companies such as Allstate or State Farm.

Cost effective insurance is definitely available online and with local insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some companies do not offer you the ability to get quotes online and these regional insurance providers work with independent agents.

Additional insurance information can be found at these links: