Compare 2014 BMW Z4 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 18, 2024

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Feel like you have an underperforming, overpriced insurance policy? Say no more because you’re not alone. Online insurance companies like Progressive, GEICO and Farmers Insurance all claim big savings with catchy ads and it is difficult to ignore the promise of big savings and take the time to shop coverage around.

If you have a current insurance coverage policy or are shopping for new coverage, you will benefit by learning to get lower rates and possibly find even better coverage. Finding affordable coverage is easy if you know what you’re doing. Consumers only need an understanding of the best way to shop their coverage around over the internet.

Compare insurance price quotes online

The majority of larger companies like Allstate, GEICO and Progressive provide prices for coverage on the web. This process is very simple as all you need to do is type in into the quote form. When the form is submitted, the company’s rating system gets your driving and credit reports and gives you a price quote based on many factors. Online price quotes makes comparing rates easy, but the time required to go to several different sites and complete many quote forms can be a bit repetitive. But it is imperative to do this if you are searching for the lowest possible prices on insurance.

The better way to compare rates

An easier way to find cheaper rates uses just one form to obtain quotes from a lot of companies. This type of form saves time, requires less work, and makes price shopping online much more efficient. After your information is entered, it gets priced and you are able to buy any one of the pricing results.

If the quotes result in lower rates, you can simply submit the application and purchase coverage. This process only takes a few minutes and you’ll know if lower rates are available.

To save time and fill out one form to compare multiple rates now, simply enter your zip code here and enter your vehicle and coverage information. If you have a policy now, it’s recommended you complete the form with your coverages identical to your current policy. This way, you will be getting an apples-to-apples comparison for the exact same coverage.

Tricks in car insurance advertising

Consumers can’t escape the ads that claim the cheapest auto insurance rates from the likes of Allstate, GEICO and Progressive. They all state the claim of big savings just by switching your coverage.

How is it plausible that every one can cost less than your current company? This is how they do it.

Companies offer their best rates for the type of driver that will most likely be profitable. An example of this type of risk profile may need to be between 30 and 50, has had continuous coverage, and does not commute to work. A customer getting a price quote who meets those qualifications is entitled to the best price and will save if they switch.

Potential insureds who don’t meet the requirements must pay a higher rate which usually ends up with the prospect going elsewhere. If you pay close attention to the ads, they say “customers who switch” not “everyone that quotes” save money. This is how insurance companies can make those statements.

This really illustrates why drivers should get insurance quotes as often as possible. It’s just too difficult to predict the company that will have the best rates.

Seven things that impact your insurance premiums

Multiple criteria are used when pricing auto insurance. Some of the criteria are obvious such as traffic violations, but other criteria are not quite as obvious like your continuous coverage or your commute time. Smart consumers have a good feel for some of the things that are used to determine your car insurance rates. When consumers understand what controls the rates you pay, this allows you to make educated decisions that may reward you with much lower annual insurance costs.

Shown below are some of the things car insurance companies consider when setting your rate level.

  • Single vs. married – Getting married may cut your premiums on your car insurance bill. Having a spouse demonstrates that you tend to be more mature than a single person and insurance companies like that married drivers tend to file fewer claims.
  • Maintain car insurance coverage – Driving without insurance coverage in place is a misdemeanor and as a result your rates will increase for letting your insurance lapse for non-payment. And not only will insurance be more expensive, getting caught without coverage could result in a hefty fine and possibly a revoked license. You may have to prove you have insurance by filing a SR-22 with your state motor vehicle department.
  • High physical damage deductibles reduce prices – Physical damage protection, termed comprehensive and collision coverage on your policy, covers damage that occurs to your BMW. A few examples of covered claims would be a broken windshield, hail damage, or theft. Comp and collision deductibles define the amount you are willing to pay if the claim is covered. The more of the claim you choose to pay out-of-pocket, the lower your rates will be on Z4 coverage.
  • Lower rates for vehicles with better crash test results – Vehicles with high crash test scores are cheaper to insure. The safest vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries means less money paid by your insurance company and lower rates for you. If your BMW Z4 scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
  • You may save more by bundling policies – Most major car insurance companies provide discounts to clients who carry more than one policy, otherwise known as a multi-policy discount. This can amount to ten percent or more. Even though this discount sounds good, you may still want to comparison shop to confirm you are receiving the best rates possible. Drivers may still find a better deal even if you have your coverage with different companies.
  • Certain employers raise car insurance rates – Did you know your occupation can influence how much you pay for car insurance? Jobs such as fire fighters, architects and financial analysts are shown to have the highest average rates in part from intense work situations and long work hours. On the flip side, careers such as scientists, students and performers get better rates on Z4 coverage.
  • Put fewer miles on your vehicle – The higher the miles on your BMW in a year the higher your rate. Almost all companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles that sit idle most of the time qualify for better rates than vehicles that have high annual mileage. It’s a good idea to make sure your vehicle rating properly reflects the proper vehicle usage, because improper ratings can cost you money. Having the wrong rating on your Z4 can cost quite a bit.

Get cheaper insurance coverage rates with discounts

Insuring your fleet can be pricey, but there’s a good chance there are discounts that may help make it more affordable. Certain reductions will be credited at the time you complete a quote, but some discounts are required to be requested specifically before you get the savings.

  • Professional Memberships – Affiliation with a civic or occupational organization is a simple method to lower premiums on your bill.
  • Defensive Driver Discounts – Taking a safe driver course could cut 5% off your bill depending on where you live.
  • Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may earn rate discounts of 20 to 30 percent.
  • Theft Deterrent System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems help deter theft and will qualify for a discount on a insurance quote.
  • ABS and Traction Control Discounts – Cars, trucks, and SUVs with ABS and/or traction control can avoid accidents so companies give up to a 10% discount.

Please keep in mind that some credits don’t apply to the entire policy premium. A few only apply to individual premiums such as medical payments or collision. Despite the appearance that all those discounts means the company will pay you, nobody gets a free ride.

A few popular companies and the discounts they provide are shown below.

  • AAA includes discounts for pay-in-full, good driver, multi-policy, education and occupation, anti-theft, good student, and AAA membership discount.
  • Progressive may offer discounts for online signing, multi-policy, multi-vehicle, good student, and online quote discount.
  • State Farm discounts include Drive Safe & Save, defensive driving training, safe vehicle, passive restraint, anti-theft, and driver’s education.
  • Esurance has discounts for multi-car, good student, multi-policy, Switch & Save, and good driver.
  • Nationwide may have discounts that include multi-policy, anti-theft, business or organization, easy pay, accident-free, Farm Bureau membership, and family plan.

If you are trying to find cheap insurance quotes, ask each company or agent which discounts you may be entitled to. Some of the earlier mentioned discounts may not be available everywhere. To see a list of insurance companies with the best insurance coverage discounts, enter your zip code here.

Tailor your insurance coverage to you

When buying proper insurance coverage, there is no “best” method to buy coverage. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that can help discover if your situation would benefit from professional advice.

  • What can I do if my company denied a claim?
  • When does my teenage driver need to be added to my policy?
  • Am I insured when driving a different vehicle?
  • Do I need roadside assistance coverage?
  • Which is better, split liability limits or combined limits?
  • Is my nanny covered when driving my vehicle?
  • How does medical payments coverage work?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, fill out your zip code. It’s fast, free and you can get the answers you need.

Auto insurance coverage considerations

Knowing the specifics of your auto insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. Listed below are the normal coverages offered by auto insurance companies.

Liability car insurance

Liability coverage can cover damages or injuries you inflict on other’s property or people that is your fault. It protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.

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 policy limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount without having the split limit caps.

Liability coverage protects against claims such as court costs, emergency aid, pain and suffering and medical services. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible.

Collision insurance

This coverage pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers things such as scraping a guard rail, crashing into a ditch, damaging your car on a curb, rolling your car and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. It’s also possible to increase the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your BMW Z4.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Medical expense coverage

Med pay and PIP coverage provide coverage for expenses for things like rehabilitation expenses, X-ray expenses, hospital visits and nursing services. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive protection

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like a broken windshield, a tree branch falling on your vehicle, damage from flooding, fire damage and vandalism. The maximum amount your auto insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Power to the consumer

When buying insurance coverage, do not buy poor coverage just to save money. In many cases, an accident victim reduced liability limits or collision coverage only to regret at claim time that it was a big mistake. The goal is to buy the best coverage you can find for the lowest price and still be able to protect your assets.

In this article, we presented some good ideas how you can lower your 2014 BMW Z4 insurance auto insurance rates. The key concept to understand is the more companies you get premium rates for, the better chance you’ll have of finding cheaper insurance. You may even find the lowest auto insurance rates are with a small mutual company. Smaller companies can often provide lower premium rates in certain areas than the large multi-state companies such as State Farm or Progressive.

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