2020 BMW 2 Series Car Insurance Cost in 2024 – 10 Tips to Save

Searching for lower auto insurance rates for your BMW 2 Series? Locating low-cost insurance for your BMW 2 Series can be a painful process, but you can follow a few tricks to save time. There is a right way and a wrong way to buy auto insurance so you’re going to learn the best way to compare rates for a new or used BMW and find the best price possible.

You should make it a habit to do rate comparisons before your policy renews because auto insurance rates are constantly changing. Despite the fact that you may have had the lowest premium rates on 2 Series insurance a year ago a different company probably has better prices today. Forget anything you know (or think you know) about auto insurance because you’re going to get a crash course in one of the quickest ways to remove unneeded coverages and save money.

Are you earning every discount?

Car insurance can cost a lot, but you might be missing out on some discounts to help offset the cost. Certain credits will be shown when you complete an application, but a few need to be specially asked for before you get the savings.

• Membership in Organizations – Belonging to qualifying clubs or civic groups could earn you a nice discount on your next renewal.
• Distant College Student Discount – Kids who are enrolled in higher education away from home and leave their car at home may be insured at a cheaper rate.
• Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education as it will make them better drivers and lower rates.
• Good Students Pay Less – Maintaining excellent grades can save 20 to 25%. Most companies allow this discount well after school through age 25.
• Defensive Driver Discounts – Passing a safe driver course could earn you a small percentage discount and easily pay for the cost of the class.
• Military Rewards – Being deployed with a military unit can result in better prices.
• Multi-policy Discount – If you can bundle your auto and homeowners insurance with one insurance company you may save approximately 10% to 15%.
• Discounts for New Vehicles – Insuring a new car may earn a small discount since new model year vehicles are generally safer.
• Federal Government Employee – Active or former government employment could qualify for a slight premium decrease on 2 Series insurance but check with your company.
• Accident Forgiveness Coverage – This isn’t a discount exactly, but some companies like Progressive, State Farm and GEICO will turn a blind eye to one accident without raising rates with the catch being you have to be claim-free before the accident.

Discounts save money, but please remember that most discounts do not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as comprehensive or collision. Just because you may think it’s possible to get free car insurance, it just doesn’t work that way.

A list of insurance companies and the discounts they provide include:

• Progressive may include discounts for multi-vehicle, online signing, good student, multi-policy, homeowner, continuous coverage, and online quote discount.
• SAFECO may offer discounts for teen safety rewards, anti-theft, anti-lock brakes, multi-car, and bundle discounts.
• American Family offers premium reductions for multi-vehicle, good driver, good student, accident-free, and defensive driver.
• MetLife offers discounts including multi-policy, defensive driver, good driver, good student, and claim-free.
• GEICO includes discounts for five-year accident-free, membership and employees, anti-lock brakes, defensive driver, and federal employee.
• The Hartford may have discounts that include driver training, vehicle fuel type, air bag, bundle, good student, anti-theft, and defensive driver.

It’s a good idea to ask each company which discounts you may be entitled to. Some discounts listed above might not be offered in your state.

When in doubt talk to an agent

When choosing the right insurance coverage for your vehicles, there is no best way to insure your cars. Coverage needs to be tailored to your specific needs.

These are some specific questions may help you determine if your insurance needs would benefit from an agent’s advice.

• Do I need an umbrella policy?
• Does coverage extend to Mexico or Canada?
• What can I do if my company won’t pay a claim?
• Are there companies who specialize in insuring high-risk drivers?
• Do I need rental car coverage?
• Should I drop comprehensive coverage on older vehicles?
• Can I get a multi-policy discount for packaging my home and auto coverage?

If you can’t answer these questions, you may need to chat with a licensed agent. If you want to speak to an agent in your area, fill out your zip code. It’s fast, free and can provide invaluable advice.

Well known brands might not be cheapest

Consumers can’t ignore all the ads for cheaper insurance by Progressive, GEICO, Allstate and State Farm. All the ads have a common claim about savings if you get a free insurance coverage quote and switch your policy.

It sounds good, but how can they all charge lower premium rates?

Insurance providers can use profiling for the right customer that earns them the highest profit. An example of a desirable insured might be a married female, has no prior claims, and drives less than 5,000 miles a year. Someone that hits that “sweet spot” will get low rates and will probably pay quite a bit less when switching companies.

People who don’t qualify for these criteria will be charged higher rates with the end result being business going elsewhere. If you pay attention, the ads say “drivers that switch” not “everyone who quotes” save the amount stated. That’s why companies can advertise the way they do. This emphasizes why you need to get price quotes at each policy renewal. You cannot predict which insurance company will have the lowest premium rates for your situation.

Car insurance coverage breakdown

Having a good grasp of car insurance can be of help when determining appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like funeral costs, EMT expenses and hospital visits. The coverages can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.

Coverage for collisions

This coverage pays to fix your vehicle from damage caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things like damaging your car on a curb, crashing into a building, driving through your garage door, hitting a mailbox and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Liability coverage

This provides protection from damages or injuries you inflict on other’s property or people that is your fault. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property.

Liability coverage pays for claims such as funeral expenses, attorney fees and loss of income. How much liability should you purchase? That is up to you, but buy as much as you can afford.

Comprehensive protection

Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

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

Stretch your dollar

When you buy insurance coverage online, it’s not a good idea to skimp on coverage in order to save money. There are a lot of situations where an insured cut full coverage only to regret that the small savings ended up costing them much more. The aim is to buy a smart amount of coverage at the best price and still be able to protect your assets.

You just learned a lot of information how to lower your 2020 BMW 2 Series insurance rates. The most important thing to understand is the more quotes you get, the better your comparison will be. You may even discover the best price on car insurance is with the least-expected company.

Some car insurance companies may not have online price quotes and many times these regional carriers provide coverage only through local independent agents. Cost effective 2020 BMW 2 Series insurance can be bought online as well as from insurance agents, and you should compare rates from both to have the best chance of lowering rates.