2010 BMW 7 Series Car Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 9, 2024

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Did you make the mistake of buying an underperforming, overpriced insurance policy? Don’t feel bad because you’re not alone. Drivers have so many insurers to pick from, and though it is a good thing to have a choice, having more insurance companies makes it harder to find the lowest cost provider.

Verify you’re getting every discount

Some insurance providers do not advertise the entire discount list very clearly, so we took the time to find both well-publicized and the harder-to-find discounts you could be receiving when you buy insurance coverage online.

  • Safety Course Discount – Successfully completing a course in defensive driving could cut 5% off your bill depending on where you live.
  • Sign Early and Save – Some insurance coverage companies provide a discount for signing up prior to the expiration date on your current policy. This discount can save up to 10%.
  • Fewer Miles Equal More Savings – Keeping the miles down on your BMW can qualify you for lower insurance coverage rates on the low mileage vehicles.
  • Online Discount – Many larger companies will discount your bill up to fifty bucks for buying your policy on the web.
  • Theft Prevention System – Vehicles optioned with advanced anti-theft systems can help prevent theft and will save you 10% or more.
  • Service Members Pay Less – Being on active duty in the military could qualify you for better prices.
  • Use Seat Belts – Drivers who always wear seat belts and also require passengers to buckle their seat belts can save a little off the PIP or medical payment premium.
  • Multi-policy Discount – When you have multiple policies with the same company you could save approximately 10% to 15%.

As a footnote on discounts, most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears all the discounts add up to a free policy, companies don’t profit that way.

To find providers with the best discounts, enter your zip code here.

When should I discuss my situation with an agent?

When buying adequate coverage for your vehicles, there really is no single plan that fits everyone. Everyone’s situation is unique and a cookie cutter policy won’t apply. These are some specific questions can help discover if your situation might need an agent’s assistance.

  • Do I have coverage when using my vehicle for my home business?
  • I have health insurance so do I need medical payments coverage?
  • Where can I get insurance after a DUI in my state?
  • Can I rent a car in Mexico?
  • Exactly who is provided coverage by my policy?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Does having multiple vehicles earn me a discount?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete your zip code. It’s fast, doesn’t cost anything and may give you better protection.

Educate yourself about auto insurance coverages

Understanding the coverages of your auto insurance policy aids in choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. Shown next are the usual coverages found on the average auto insurance policy.

Liability

Liability insurance will cover damage or injury you incur to people or other property by causing an accident. It protects you against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 that means you have 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. Some companies may use one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things like funeral expenses, emergency aid and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision insurance

Collision insurance pays for damage to your 7 Series caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like backing into a parked car, sustaining damage from a pot hole, crashing into a ditch and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

This coverage provides protection when the “other guys” do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time the UM/UIM limits are set the same as your liability limits.

Comprehensive protection

This pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as hitting a deer, fire damage, damage from flooding and theft. The most your auto insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like pain medications, EMT expenses and chiropractic care. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Summing up your insurance search

When shopping online for insurance, it’s very important that you do not sacrifice coverage to reduce premiums. There are a lot of situations where an insured dropped collision coverage only to discover later that the savings was not a smart move. The proper strategy is to purchase a proper amount of coverage at an affordable rate but still have enough coverage for asset protection.

In this article, we presented many tips how you can compare 2010 BMW 7 Series insurance rates online. The key concept to understand is the more rate quotes you have, the higher the chance of saving money. Drivers may discover the biggest savings come from a smaller regional carrier. Regional companies may often insure only within specific states and give getter rates than their larger competitors like Allstate, GEICO and Progressive.

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