2016 BMW 3 Series Insurance Rates in 2024

When trying to find cheaper insurance, do you get frustrated by the number of insurance coverage sources available to you? Many other drivers are as well. There are so many sources available that it can easily become a real difficult job to find better insurance coverage rates.

You need to check insurance coverage prices quite often due to the fact that insurance prices are usually higher with each renewal. Despite the fact that you may have had the best rate on 3 Series insurance at your last renewal a different company probably has better premium rates today. You can find a lot of wrong information about insurance coverage out there, but I’m going to show you some solid techniques on how to find affordable insurance coverage.

Finding affordable coverage is not that difficult. Just about anyone who has to buy insurance will more than likely be able to find lower rates. But consumers must know how the larger insurance companies price insurance differently.

Take advantage of with these discounts

Some insurers do not advertise every discount available in a way that’s easy to find, so the next list breaks down a few of the more well known in addition to some of the lesser obvious discounts that you can inquire about if you buy auto insurance online.

• Student Discount for Driver Training – Teen drivers should take driver’s ed class if it’s offered in school.
• Own a Home – Just being a homeowner can save you money since owning and maintaining a home requires personal responsibility.
• Discount for Low Mileage – Low annual miles may allow you to get better rates on cars that stay parked.
• E-sign – Many companies will provide an incentive simply for signing on the web.
• Savings for New Vehicles – Buying insurance on a new vehicle is cheaper since new model year vehicles are generally safer.
• Policy Bundle Discount – If you insure your home and vehicles with one company you could earn a discount of 10% to 20% off each policy.
• Renewal Discounts – A few larger companies offer discounts for switching to them prior to the expiration date on your current policy. You could save around 10% when you buy auto insurance online.
• Multi-line Discount – Companies who offer life insurance give a break if you buy life insurance.
• Telematics Data Discounts – Drivers that enable driving data submission to look at driving habits by using a telematic data system such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates if they show good driving skills.
• Multiple Vehicles – Purchasing coverage when you have multiple cars or trucks on one policy can reduce the rates for all insured vehicles.

Discounts reduce rates, but you should keep in mind that most discounts do not apply to your bottom line cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. Even though it appears adding up those discounts means a free policy, company stockholders wouldn’t be very happy.

Larger insurance coverage companies and some of the discounts are detailed below.

• Mercury Insurance discounts include low natural disaster claims, good driver, annual mileage, multi-policy, multi-car, type of vehicle, and anti-theft.
• Farmers Insurance offers discounts including electronic funds transfer, teen driver, mature driver, distant student, business and professional, and early shopping.
• Farm Bureau may include discounts for safe driver, youthful driver, driver training, good student, and 55 and retired.
• State Farm policyholders can earn discounts including Drive Safe & Save, good driver, good student, multiple autos, and passive restraint.
• Allstate has savings for EZ pay plan discount, anti-theft, safe driver, teenSMART discount, premier discount, and good payer.
• GEICO has discounts for air bags, daytime running lights, defensive driver, membership and employees, and five-year accident-free.

If you need lower rates, check with each insurance company which discounts you may be entitled to. Some of the discounts discussed earlier may not be offered in your area. To find insurance coverage companies who offer discounts, enter your zip code here.

Your situation helps dictate your coverage

When buying the best auto insurance coverage for your personal vehicles, there is no best way to insure your cars. Everyone’s situation is unique.

For example, these questions may help highlight whether you may require specific advice.

• Do I need PIP coverage since I have good health insurance?
• Will my insurance pay for OEM parts?
• Can I drive in Mexico and have coverage?
• Is my cargo covered for damage or theft?
• Is my camper covered by my car insurance policy?
• Do I have coverage for damage caused while driving under the influence?
• What discounts do I qualify for?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an insurance agent. If you don’t have a local agent, simply complete your zip code.

Insurance coverages explained

Understanding the coverages of your policy can be of help when determining the right coverages for your vehicles. Insurance terms can be confusing and coverage can change by endorsement.

Liability insurance

Liability insurance protects you from injuries or damage you cause to other people or property. 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 commonly see limits of 25/50/25 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.

Liability insurance covers claims such as repair costs for stationary objects, loss of income and emergency aid. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Comprehensive coverages

This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things like vandalism, damage from flooding, fire damage, damage from getting keyed and theft. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like prosthetic devices, surgery and doctor visits. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible

Uninsured and underinsured coverage

This coverage provides protection from other drivers when they either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your 2016 BMW 3 Series.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Collision insurance

Collision insurance will pay to fix damage to your 3 Series caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like colliding with another moving vehicle, sideswiping another vehicle and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. You can also bump up the deductible to get cheaper collision coverage.

Cheaper insurance is a realistic goal

Lower-priced 2016 BMW 3 Series insurance is attainable both online and from local agencies, so you need to shop auto insurance with both to have the best chance of lowering rates. There are still a few companies who may not offer the ability to get a quote online and many times these smaller companies work with independent agents.

In this article, we presented some good ideas how to lower your 2016 BMW 3 Series insurance prices. It’s most important to understand that the more times you quote, the better your chances of lowering your rates. You may be surprised to find that the best price on insurance coverage is with a company that doesn’t do a lot of advertising.

Drivers leave their current company for a variety of reasons including questionable increases in premium, delays in paying claims, policy non-renewal and even high prices. Regardless of your reason for switching companies, finding the right insurance coverage provider is actually quite simple.