How Much Does 2013 BMW 7 Series Insurance Cost in 2024?

Searching for the cheapest auto insurance rates for your BMW 7 Series? Are you burned out from paying out the nose to pay auto insurance each month? Your situation is no different than most other drivers. There is such a variety of car insurance companies to pick from, and even though it’s nice to have a selection, so many choices can make it hard to find a good deal.

Finding the best rates is not that difficult. If you have car insurance now, you will most likely be able to reduce your rates substantially using these techniques. Vehicle owners only need to know the most effective way to shop on the web.

How insurance companies calculate BMW 7 Series insurance premiums

Lots of factors are considered when you get a price on insurance. A few of the factors are predictable such as your driving record, although others are more obscure such as your credit history or how safe your car is.

The items below are some of the things used by insurance companies to determine your rate level.

• Vocation stress can affect prices – Jobs like real estate brokers, airline pilots and miners generally have higher rates than the rest of us in part from intense work requirements and long work days. Other careers such as professors, historians and the unemployed have the lowest average rates for 7 Series insurance.
• Men drivers tend to cost more – Statistics show females are less aggressive when driving. However, this does not mean men are worse drivers. Women and men tend to get into at-fault accidents in similar percentages, but the men get into accidents with more damage. They also get higher numbers of serious violations such as DWI and reckless driving.
• Know your vehicle’s crash test rating – Vehicles with high crash test scores are cheaper to insure. Highly rated vehicles reduce the chance of injuries and better occupant protection means less claims paid and lower rates for you.
• High insurance claims frequency drives up prices – If you’re an insured who likes to file claims you can expect either higher rates or even cancellation. Car insurance companies give most affordable rates to policyholders that do not abuse their auto insurance. Insurance coverage is meant to be used in the event of major claims that would cause financial hardship.
• Advanced theft deterrents – Driving a car that has a built-in theft deterrent system can help lower your rates. Theft deterrent systems such as OnStar, LoJack tracking, and tamper alarms can help prevent car theft.

You may qualify for discounts

Car insurance can cost a lot, but you may qualify for discounts that could drop your premiums quite a bit. Certain reductions will be credited when you purchase, but a few need to be specifically requested before they will apply. If you check and find you aren’t receiving every discount possible, you could be saving more on your insurance coverage.

• Policy Bundle Discount – When you combine your auto and homeowners insurance with the same insurance company you may earn nearly 15% which can help you find affordable insurance.
• Life Insurance Discount – Larger insurance carriers have lower prices if you buy some life insurance too.
• Senior Discount – If you qualify as a senior citizen, you may be able to get a discount up to 10% for 7 Series insurance.
• Air Bags and Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can get savings of 20 to 30 percent.
• Discount for Low Mileage – Fewer annual miles on your BMW may enable drivers to earn better premium rates on cars that stay parked.
• Paperwork-free – Many insurance coverage companies will give you a small discount shop insurance on the internet.

As a footnote on discounts, most of the big mark downs will not be given to your bottom line cost. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. If you do the math and it seems like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

To see a list of insurers who offer online insurance coverage quotes, enter your zip code here.

Does car insurance advertising bend the truth?

Consumers can’t avoid all the ads for cheaper car insurance from companies such as Allstate, GEICO and Progressive. All the companies make the same claim about how much you will save if you change to their company.

That’s great but how can every company charge you a lower premium? This is the trick they use.

All companies provide the lowest rates for the type of customer they prefer to insure. A good example of a desirable insured might have to be between 25 and 40, owns their home, and has excellent credit. A customer getting a price quote who fits that profile receive the lowest rate quotes and will also save quite a bit of money when switching.

Potential customers who are not a match for the requirements will probably be forced to pay higher premium rates and this can result in business not being written. The ad wording is “drivers that switch” but not “all drivers who get quotes” save money. That’s the way companies can truthfully lure you into getting a quote. Because of these techniques, you need to get insurance quotes from several different companies. It is just not possible to predict which insurance companies will have the best prices.

There’s no such thing as the perfect insurance policy

When buying the best insurance coverage, there really is not a “best” method to buy coverage. Every situation is different so your insurance needs to address that. For instance, these questions could help you determine if your insurance needs may require specific advice.

• Do I have coverage if my license is suspended?
• What vehicles should carry emergency assistance coverage?
• How do I buy GAP insurance?
• Am I covered when delivering products for my home-based business?
• Is other people’s property covered if stolen from my vehicle?
• Do I need rental car coverage?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, simply complete your zip code. It is quick, free and can help protect your family.

Insurance policy coverages for a 2013 BMW 7 Series

Having a good grasp of your insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are typical coverages found on the average insurance policy.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for expenses such as hospital visits, funeral costs and prosthetic devices. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Liability insurance

Liability coverage can cover damage or injury you incur to other people or property. This insurance protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims such as bail bonds, attorney fees, medical services and emergency aid. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Collision coverage protection

Collision insurance will pay to fix damage to your 7 Series from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like sustaining damage from a pot hole, rolling your car, crashing into a ditch, scraping a guard rail and backing into a parked car. This coverage can be expensive, so consider removing coverage from older vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as rock chips in glass, damage from flooding and vandalism. The maximum payout a insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Do the work, save more money

We just covered many tips how you can shop for 2013 BMW 7 Series insurance online. The most important thing to understand is the more you quote insurance, the higher the chance of saving money. You may even discover the lowest priced insurance coverage comes from a company that doesn’t do a lot of advertising. Smaller companies can often provide lower prices in certain areas than the large multi-state companies such as State Farm, GEICO and Nationwide.

Lower-priced insurance coverage can be sourced both online in addition to local insurance agencies, and you need to comparison shop both to have the best rate selection. Some insurance providers may not provide internet price quotes and most of the time these small, regional companies work with independent insurance agents.