Save on 2014 BMW 7 Series Insurance Quotes 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 8, 2024

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It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

When shopping for cheaper insurance, are you intimidated by the number of insurance coverage choices? You have so many choices that it is a ton of work to find the lowest price.

Smart consumers take time to shop coverage around yearly due to the fact that insurance prices are rarely the same from one policy term to another. Despite the fact that you may have had the best price on 7 Series coverage on your last policy there is a good chance you can find better rates now. Ignore everything you know about insurance coverage because you’re about to learn the fastest way to properly buy coverages and cut your premium.

Choosing the best insurance company for you is easy if you know what you’re doing. If you are paying for car insurance now, you should be able to reduce your rates substantially using this strategy. Nevertheless, car owners can benefit from knowing how companies compete online and use this information to your advantage.

The cheapest insurance coverage

There are a variety of methods you can shop for insurance coverage but there is one way that is easier and takes less work. You can waste a lot of time talking to local insurance agents in your area, or you can utilize online quotes to get prices fast.

All the larger companies participate in a marketplace that enables customers to enter their policy data once, and every company can give them a price determined by their information. This saves time by eliminating quote forms to each individual insurance coverage company.

To participate in this free quote system, enter your zip code here.

The one disadvantage to using this type of system is you don’t know exactly the insurers to get pricing from. If you prefer to choose from a list of companies to receive pricing from, we have assembled a list of the cheapest insurance coverage companies in your area. Click to enter zip code for insurance companies.

Whichever way you choose to compare rates, make absolute certain that you use the same coverages and limits for each quote you get. If each company quotes different coverage information then you won’t be able to make a fair comparison for your BMW 7 Series. Having just a slight variation in insurance coverages could throw off the whole comparison. Just keep in mind that comparing more rates from different companies increases the change that you will find lower pricing. Some companies don’t provide price estimates online, so you also need to get rates from them as well.

Save money with discounts

Insurance coverage is not an enjoyable expense, but companies offer discounts that can help lower your rates. Certain reductions will be credited when you purchase, but occasionally some discounts must be specifically requested before you will receive the discount. If you check and find you aren’t receiving every discount you qualify for, you could be paying more than you need to.

  • Online Discount – Many insurance companies will discount your bill up to fifty bucks for buying your policy on the web.
  • Full Payment Discount – By paying your entire bill at once instead of monthly or quarterly installments you could save 5% or more.
  • Own a Home and Save – Owning a home can help you save on insurance coverage because it requires a higher level of personal finance.
  • Anti-lock Brakes – Anti-lock brake equipped vehicles have fewer accidents and earn discounts up to 10%.
  • More Vehicles More Savings – Buying a policy with all your vehicles on one policy could earn a price break for each car.
  • Government Employees – Simply working for the federal government could cut as much as 10% off on 7 Series coverage depending on your insurance coverage provider.

We need to note that most of the big mark downs will not be given to the whole policy. Most cut individual premiums such as medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, insurance coverage companies aren’t that generous.

Car insurance companies that may have most of these discounts include:

  • Farm Bureau
  • Liberty Mutual
  • State Farm
  • Auto-Owners Insurance
  • GEICO
  • SAFECO

When getting free auto insurance quotes, it’s a good idea to each company or agent which discounts they offer. Depending on the company, some discounts might not be available to policyholders in your area. If you would like to view companies with significant discounts, enter your zip code here.

What is the best car insurance coverage?

When it comes to buying the best car insurance coverage, there really is no “best” method to buy coverage. Everyone’s needs are different.

Here are some questions about coverages that might point out whether you would benefit from professional advice.

  • Is pleasure use cheaper than using my 2014 BMW 7 Series to commute?
  • Are my friends covered when driving my 2014 BMW 7 Series?
  • What is UM/UIM insurance?
  • How much underlying liability do I need for an umbrella policy?
  • Should I put collision coverage on all my vehicles?
  • Do I have newly-acquired coverage?

If you’re not sure about those questions but you know they apply to you then you might want to talk to an insurance agent. To find lower rates from a local agent, simply complete your zip code.

Informed consumers know how to get car insurance at a discount

When buying car insurance it’s important to understand some of the elements that go into determining your premiums. If you have some idea of what determines premiums, this helps enable you to make changes that could result in cheaper rates.

The following are some of the most rate-impacting factors used by companies to determine your rates.

  • Drive a safer car and pay less – Cars with high safety ratings cost less to insure. The safest vehicles reduce injuries and any reduction in injury severity means less claims paid and lower rates for you.
  • Bundle policies with the same company – Most major insurers will award lower prices to people that have more than one policy in the form of a multi-policy discount. The discount can add up to ten or even fifteen percent. Even though this discount sounds good, it’s in your best interest to compare rates to confirm you are receiving the best rates possible. You may still be able to save money even if you insure with multiple companies.
  • Occupation and insurance rates – Careers such as military generals, air traffic controllers and stock brokers usually pay higher average rates in part from job stress and lengthy work days. On the flip side, jobs like farmers, historians and the unemployed pay the least on 7 Series coverage.
  • Credit rating impacts premium rates – Having a good credit rating is likely to be a major factor in determining premium rates. If your credit score is not that good, you could be paying less to insure your 2014 BMW 7 Series by improving your credit score. People that have excellent credit scores tend to file fewer claims and have better driving records as compared to drivers with lower credit ratings.
  • Annual mileage impacts costs – The higher the mileage driven in a year the more you’ll pay to insure your vehicle. Most companies rate vehicles based on their usage. Cars that have low annual miles qualify for better rates than vehicles that are driven to work every day. Having the wrong rating on your 7 Series may be costing you. It’s always a good idea to double check that your car insurance policy states annual mileage.
  • Age of drivers – Older drivers tend to be more responsible, file fewer claims , and usually have better credit. Young drivers are statistically proven to get distracted easily when driving with friends therefore car insurance rates are much higher.
  • Responsible drivers pay less – Whether or not you get tickets has a big impact on rates. Drivers who don’t get tickets get better prices compared to bad drivers. Just one ticket can boost insurance rates by twenty percent. Drivers with dangerous violations such as hit and run, DWI or reckless driving convictions are required to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to legally drive.

Car insurance companies are expert advertisers

Big name companies like Progressive, GEICO, Allstate and State Farm consistently run television and radio advertisements. They all seem to try to convey promises that you can save if you switch your coverage. It sounds good, but how can they all claim to save you money? It’s all in how they say it.

Many companies are able to cherry pick for the type of driver that will most likely be profitable. For instance, a preferred risk may need to be a female over age 40, has a clear driving record, and the vehicle is rated for pleasure use. Anyone who matches those parameters is entitled to the best price and most likely will save when they switch companies.

Consumers who fall short of those standards must pay higher premiums which usually ends up with the customer not buying. The trick is to say “people that switch” not “everybody who quotes” save that kind of money. That’s why companies can truthfully make those claims. Different companies use different criteria so it’s extremely important to get auto insurance quotes from several different companies. It is impossible to guess the company that will be your best fit.

Auto insurance coverage information

Having a good grasp of a auto insurance policy can be of help when determining which coverages you need for your vehicles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Collision coverage – Collision insurance pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as damaging your car on a curb, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to choose a higher deductible to get cheaper collision coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your BMW 7 Series.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Auto liability – This coverage will cover injuries or damage you cause to other people or property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against claims such as legal defense fees, loss of income and emergency aid. How much coverage you buy is up to you, but consider buying as high a limit as you can afford.

Comprehensive auto coverage – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for things like damage from getting keyed, vandalism, a tree branch falling on your vehicle, falling objects and hitting a deer. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance provide coverage for expenses such as pain medications, EMT expenses, chiropractic care and surgery. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. They cover you and your occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

You can do this!

More affordable auto insurance can be found both online and from local agencies, and you should compare price quotes from both in order to have the best chance of saving money. Some companies do not provide rates over the internet and many times these smaller companies only sell through independent agents.

We covered some good ideas how you can get a better price on 2014 BMW 7 Series insurance. The most important thing to understand is the more times you quote, the better your comparison will be. Consumers could even find that the best price on auto insurance is with a small mutual company.

Consumers change insurance companies for any number of reasons including denial of a claim, not issuing a premium refund, unfair underwriting practices and delays in responding to claim requests. No matter why you want to switch, finding a great new company can be pretty painless.

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