Save on 2020 BMW 8 Series Insurance Rates in 2024

Trying to find cheaper insurance coverage rates for your BMW 8 Series? Finding cheaper auto insurance quotes online could seem overwhelming since most people haven’t used quote comparisons online. But don’t be overwhelmed because there is an easy way to compare rates.

If you are paying for car insurance now, you will be able to cut costs considerably using these techniques. This information will help you learn the best way to quote coverages and some tricks to saving. Although drivers must comprehend how companies price online insurance and take advantage of how the system works.

Save with these money-saving discounts

Insurance can be prohibitively expensive, but there are discounts available that many people don’t even know exist. Certain reductions will be credited when you quote, but less common discounts must be specifically requested before being credited. If you do not double check each discount you deserve, you’re paying more than you need to.

• Senior Citizen Rates – Drivers over the age of 55 can get a small decrease in premiums for 8 Series coverage.
• Claim Free – Claim-free drivers get the best auto insurance rates as opposed to bad drivers.
• Membership in Organizations – Affiliation with a qualifying organization could trigger savings when shopping for auto insurance.
• Multi-car Discount – Buying insurance for multiple cars with one company could earn a price break for each car.
• Federal Employees – Active or retired federal employment may reduce rates when you quote auto insurance for 8 Series coverage with select insurance companies.
• Bundle and Save – When you combine your auto and home insurance with the same insurance company they may give you a discount of nearly 15% which can help you find cheaper auto insurance.

Discounts reduce rates, but you should keep in mind that many deductions do not apply to all coverage premiums. Most only cut the cost of specific coverages such as comprehensive or collision. Just because it seems like you could get a free auto insurance policy, it doesn’t quite work that way.

Companies and some of the discounts can be read below.

• 21st Century may include discounts for early bird, teen driver, anti-lock brakes, 55 and older, defensive driver, automatic seat belts, and good student.
• Progressive offers discounts including continuous coverage, multi-vehicle, good student, homeowner, online signing, online quote discount, and multi-policy.
• State Farm discounts include multiple autos, good student, Steer Clear safe driver discount, safe vehicle, passive restraint, and accident-free.
• Nationwide may offer discounts for anti-theft, easy pay, good student, business or organization, accident-free, Farm Bureau membership, and multi-policy.
• Esurance offers premium reductions for anti-lock brakes, Switch & Save, DriveSense, good student, and Pac-12 alumni.
• The Hartford policyholders can earn discounts including good student, defensive driver, air bag, driver training, bundle, anti-theft, and vehicle fuel type.

When getting free auto insurance quotes, it’s a good idea to every prospective company which discounts they offer. A few discounts may not be available in every state. To see a list of auto insurance companies with significant discounts, enter your zip code here.

How to buy car insurance online

To find cheaper rates, there are a couple of ways to compare prices from many different insurance companies. The easiest way by far to find competitive 2020 BMW 8 Series insurance rates involves getting comparison quotes online. This is very easy and can be done by using one of the methods below.

• The simplest way to get quotes for comparison is to use a rate comparison form. This type of form eliminates the need for repetitive form submissions for each company. Just one form gets rate comparisons from many national carriers. This is perfect if you don’t have a lot of time.
• A slightly less efficient method to analyze rates requires a trip to each company’s website and complete a new quote form. For sake of this example, we’ll assume you want to compare prices for Progressive, State Farm and GEICO. You would need to visit each site to enter your coverage information, which explains why we recommend starting with the first method.
• Even if you have time, the least recommended method to quote and compare insurance rates is driving around to local insurance agencies. The ability to get quotes online reduces the need to sit down with an agent unless you’re the type of person who wants the personal advice of a local agent. Although, it is possible compare the best prices online but purchase the actual policy in an agency.

Whichever method you choose, make absolute certain that you use the exact same quote information on every quote. If you are comparing different limits and deductibles on each one then you won’t be able to get a fair rate comparison. Slightly different insurance coverages could throw off the whole comparison. And when price shopping your coverage, quoting more helps you find more affordable insurance. Some smaller insurers to not give online rate quotes, so it’s important to compare quotes from those companies as well.

How car insurance companies calculate BMW 8 Series insurance rates

Lots of things are part of the calculation when you get your auto insurance bill. Some factors are common sense like an MVR report, but other criteria are more transparent like your vehicle usage or how safe your car is.

• Get hitched and pay lower premiums – Having a significant other may save some money on your auto insurance bill. It may mean you are more mature than a single person and statistics prove drivers who are married are more cautious.
• Save money with higher coverage deductibles – Comprehensive and collision coverage deductibles tell how much the insured will be required to pay if a claim is determined to be covered. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of covered claims are colliding with a stationary object, fire damage, and having a roll-over accident. The more money you’re willing to pay, the lower your rates will be for 8 Series coverage.
• Do safer cars cost less to insure? – Safe vehicles tend to have lower insurance rates. Safer cars reduce injuries and reduced instances of injuries translates into savings for insurance companies which can result in lower premiums. If your BMW 8 Series has ratings of a minimum four stars on Safercar.gov you may qualify for a discount.
• Long commutes cost more – The more miles you rack up on your BMW every year the more it will cost to insure it. Most insurance companies price each vehicle’s coverage partially by how you use the vehicle. Autos that have low annual miles receive better premium rates than cars that get driven a lot. Double check that your policy is rated on the correct usage. An improperly rated 8 Series may be costing you higher rates.
• Your stress level may be raising your auto insurance rates – Did you know your occupation can influence how much you pay for auto insurance? Jobs such as military generals, business owners and financial analysts generally pay higher rates than the rest of us in part from high stress and long work days. On the flip side, careers like farmers, engineers and homemakers have lower than average premiums for 8 Series coverage.
• Liability coverage limits are a factor – Liability coverage will afford coverage if ever you are found to be at fault for an accident. This coverage provides you with a defense in court up to the limits shown on your policy. It is affordable coverage compared to physical damage coverage, so buy as much as you can afford.
• Only buy incidental coverages you need – Insurance policies have a lot of extra add-on coverages you can purchase but may not be useful. Things like personal injury protection, high-cost glass coverage, and motor club memberships are some examples. These coverages may sound good when buying your policy, but your needs may have changed so get rid of them and save.
• Your location is a factor – Being located in less populated areas of the country may provide you with better prices when buying auto insurance. Drivers who live in large cities have more aggressive driving styles and more time behind the wheel. Fewer drivers means less chance of accidents in addition to fewer liability claims.

Do I need special coverages?

When it comes to buying the right insurance coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s situation is a little different.

These are some specific questions might point out whether or not you could use an agent’s help.

• What are the financial responsibility laws in my state?
• Which companies will insure high-risk drivers?
• Do I benefit by insuring my home with the same company?
• Does car insurance cover theft of personal property?
• Does my car insurance cover rental cars?
• Do I have any recourse if my insurance company denies a claim?
• Is my ex-spouse still covered by my policy?
• Should I buy additional glass protection?
• Am I covered when delivering products for my home-based business?
• Does insurance cover damages from a DUI accident?

If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and enter your zip code.

Advertising myths

Respected companies like 21st Century, Allstate and State Farm consistently run ads on television and other media. All the ads advertise the message about saving some big amount just by switching your policy. How is it possible that every company can save you money? This is the way they can do it.

All the different companies provide the lowest rates for the type of driver they prefer to insure. A good example of a profitable risk profile may be over the age of 50, has never had a claim, and drives a lower-performance vehicle. Any customer who matches that profile receive the lowest rate quotes and will most likely save if they switch.

Insureds who don’t meet this stringent profile will have to pay more expensive rates and this results in the driver buying from a lower-cost company. The trick companies use is to say “people who switch” not “everyone that quotes” save the amount stated. This is how insurance companies can confidently make claims like that.

This really emphasizes why you absolutely need to get auto insurance quotes from several different companies. It is impossible to guess which company will be your best fit.

Auto insurance coverage information

Understanding the coverages of car insurance helps when choosing appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Coverage for liability

This coverage protects you from injuries or damage you cause to other people or property that is your fault. It protects you against claims from other people. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability can pay for claims such as repair bills for other people’s vehicles, funeral expenses, medical expenses, medical services and bail bonds. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford.

UM/UIM Coverage

This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as damage to your BMW 8 Series.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are identical to your policy’s liability coverage.

Collision insurance

Collision coverage pays for damage to your 8 Series caused by collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as sustaining damage from a pot hole, sideswiping another vehicle, scraping a guard rail and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Medical costs insurance

Coverage for medical payments and/or PIP pay for immediate expenses for hospital visits, EMT expenses, pain medications, dental work and ambulance fees. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision

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

Comprehensive can pay for things like a tree branch falling on your vehicle, rock chips in glass, damage from getting keyed and falling objects. The maximum amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Best coverage at the best price

Budget-conscious 2020 BMW 8 Series insurance can be found on the web in addition to local insurance agencies, and you need to comparison shop both to get a complete price analysis. Some insurance coverage companies do not provide online price quotes and most of the time these smaller companies only sell coverage through independent agencies.

Drivers who switch companies do it for a number of reasons such as lack of trust in their agent, denial of a claim, poor customer service or extreme rates for teen drivers. Regardless of your reason for switching companies, finding the right insurance coverage provider is less work than it seems.

We covered quite a bit of information on how to save on 2020 BMW 8 Series insurance. The key thing to remember is the more companies you get car insurance rates for, the better your comparison will be. You may be surprised to find that the lowest rates come from an unexpected company.