Lower Your 2014 BMW 7 Series Car Insurance Rates in 2024

Looking for cheaper insurance rates for your BMW 7 Series? If you’re new to shopping for car insurance quotes online, by this point your are probably baffled by the large number of insurance companies vying for business.

It’s a great practice to take a look at other company’s rates quite often because insurance prices go up and down regularly. Even if you got the lowest rates for 7 Series coverage a few years ago you may be paying too much now. You can find a lot of wrong information about insurance out there, but in this article, you’re going to get some solid techniques on how to stop overpaying for insurance.

How to compare insurance quotes

Comparing insurance rates can be a daunting task if you don’t know the best way to get rate quotes. You could waste time driving to local insurance agents in your area, or you can stay home and use the internet to accomplish the same thing much quicker.

Many of the larger companies belong to a marketplace that enables customers to enter their coverage request one time, and at least one company can give them a price. This prevents consumers from doing repetitive form submissions to each company.

To compare pricing enter your zip code here.

One minor caveat to using this type of system is you can’t choose which companies to get quotes from. So if you want to select specific providers to compare, we put together a list of insurance companies in your area. Click to enter zip code.

Whichever way you use, double check that you are using the same coverage limits and deductibles on every price quote you get. If your comparisons have different deductibles it’s not possible to find the best deal for your BMW 7 Series. Just a small difference in coverage limits may result in a large different in cost. And when comparing insurance rates, know that comparing all the rates in your area will improve the odds of getting a lower rate. Some insurance companies are not set up to provide online quotes, so it’s necessary to compare price quotes from them, too.

Can you really save $484 a year?

Companies like State Farm, GEICO and Progressive continually stream ads in print and on television. All the ads advertise claims that people will save if you get a free car insurance quote and switch your coverage. How do they all offer you a better deal? Here is the trick they use.

Insurance companies quote their cheapest rates for the type of customer that will most likely be profitable. For example, a desirable risk might be a married female, carries high limits, and the vehicle is rated for pleasure use. Someone that fits those parameters will get the preferred prices and will save a lot of money.

Consumers who may not quite match the “perfect” profile will have to pay a higher rate and ends up with business going elsewhere. The ad wording is “customers who switch” not “everybody who quotes” save that much when switching. That is how insurance companies can claim big savings.

That is why you really should compare quotes as often as possible. It’s impossible to know which company will have the lowest rate quotes.

Find hidden discounts to get affordable insurance coverage rates

Not too many consumers would say insurance coverage is affordable, but you may qualify for discounts that could drop your premiums quite a bit. A few discounts will automatically apply at the time you complete a quote, but some discounts are required to be specifically requested prior to receiving the credit.

• Drivers Education – It’s a good idea to have your young drivers enroll and complete driver’s education if offered at their school.
• Discount for Life Insurance – If the company offers life insurance, you could get a break if you buy a life policy as well.
• Seat Belt Discounts – Using a seat belt and requiring all passengers to buckle up before driving can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
• New Vehicle Savings – Insuring a new car can save you some money because newer vehicles have to meet stringent safety requirements.
• Low Mileage Discounts – Keeping the miles down on your BMW may allow you to get substantially lower prices.
• Good Driver Discounts – Drivers who don’t get into accidents can save up to 40% or more on their car insurance quote for 7 Series coverage as compared to drivers with claims.
• Organization Discounts – Being in qualifying clubs or civic groups can get you a small discount on your next insurance coverage statement.

You should keep in mind that many deductions do not apply to the entire cost. Most only cut the price of certain insurance coverages like liability, collision or medical payments. Even though it appears all those discounts means the company will pay you, company stockholders wouldn’t be very happy.

A few popular companies and the discounts they provide are outlined below.

• American Family discounts include air bags, TimeAway discount, accident-free, bundled insurance, and Steer into Savings.
• State Farm policyholders can earn discounts including Steer Clear safe driver discount, good driver, safe vehicle, accident-free, multiple policy, and multiple autos.
• 21st Century offers discounts including air bags, 55 and older, theft prevention, homeowners, and automatic seat belts.
• Travelers has savings for multi-policy, continuous insurance, student away at school, save driver, and good student.
• GEICO includes discounts for federal employee, anti-lock brakes, defensive driver, anti-theft, and five-year accident-free.

If you want inexpensive car insurance quotes, ask every prospective company which credits you are entitled to. Some discounts listed above might not be offered on policies in your area. To choose insurers offering insurance coverage discounts, enter your zip code here.

Tailor your insurance coverage to you

When it comes to buying coverage, there is no perfect coverage plan. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that might help in determining whether you would benefit from professional advice.

• Why do I need rental car insurance?
• Does my insurance cover a custom paint job?
• How do I insure my teen driver?
• Is my trailer covered?
• What are the financial responsibility laws in my state?
• What companies insure drivers after a DUI or DWI?
• Do I pay less for low miles?

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, take a second and enter your zip code.

Auto insurance coverages

Learning about specific coverages of auto insurance can help you determine the right coverages for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Liability coverages

Liability insurance provides protection from damages or injuries you inflict on a person or their property by causing an accident. It protects you from claims by other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 which means $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability coverage pays for claims such as medical services, emergency aid, funeral expenses, repair bills for other people’s vehicles and attorney fees. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like hitting a deer, falling objects, fire damage, a tree branch falling on your vehicle and a broken windshield. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

UM/UIM Coverage

This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your BMW 7 Series.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually the UM/UIM limits are similar to your liability insurance amounts.

Collision protection

Collision coverage will pay to fix damage to your 7 Series from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as colliding with a tree, sideswiping another vehicle, rolling your car, damaging your car on a curb and driving through your garage door. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Medical costs insurance

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for things like prosthetic devices, EMT expenses, nursing services, dental work and funeral costs. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Take this to the bank

Drivers who switch companies do it for a number of reasons such as denial of a claim, lack of trust in their agent, delays in paying claims and even extreme rates for teen drivers. Regardless of your reason for switching companies, switching companies is pretty simple and you could end up saving a buck or two.

Discount 2014 BMW 7 Series insurance can be sourced online and with local insurance agents, and you need to comparison shop both to have the best rate selection. A few companies don’t offer online quoting and many times these smaller providers only sell coverage through local independent agents.

You just learned many ideas to compare 2014 BMW 7 Series insurance prices online. It’s most important to understand that the more companies you get rates for, the better likelihood of getting cheaper car insurance. Consumers may even find the best price on insurance coverage is with a smaller regional carrier.