Cheap 2017 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 9, 2024

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Finding cheaper prices on insurance coverage could be quite difficult for drivers who are beginners to buying insurance online. Drivers have so many agents and companies to choose from that it can quickly become a ton of work to find the perfect company for you.

You should take the time to take a look at other company’s rates yearly because rates are variable and change quite frequently. Despite the fact that you may have had the best deal on 7 Series coverage six months ago other companies may now be cheaper. Forget all the misinformation about insurance coverage because you’re about to learn the easiest way to reduce your cost while increasing coverage.

If you are paying for car insurance now, you will be able to save some money using this strategy. Shopping for affordable car insurance coverage is simple if you know the tricks. Although vehicle owners must understand how big insurance companies determine prices and use this information to your advantage.

The most recommended method to compare car insurance company rates utilizes the fact all the major auto insurance companies pay for the opportunity to give you rate quotes. The only thing you need to do is give them rating details including if you went to college, if you’re married, your occupation, and if you have an active license. Your information gets sent immediately to insurance carriers in your area and they provide comparison quotes very quickly.

Lower-cost car insurance rates with discounts

Insurance can be prohibitively expensive, but companies offer discounts that many consumers don’t even know exist. Some of these discounts will be visible when you complete an application, but a few must be inquired about prior to getting the savings.

  • Paperwork-free – A few larger online companies will give you a small discount for buying your policy on your computer.
  • Smart Student Discounts – This discount may save you up to 25%. This discount can apply well after school through age 25.
  • New Car Discount – Buying insurance on a new vehicle may earn a small discount due to better safety requirements for newer models.
  • Student in College – Kids who are enrolled in higher education away from home and won’t have access to an insured vehicle can be insured at a reduced rate.
  • Defensive Driver – Successfully completing a course teaching defensive driving skills could possibly earn you a 5% discount and also improve your driving technique.
  • Onboard Data Collection – People who choose to allow companies to track their driving habits by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction as long as they are good drivers.
  • Low Miles Discount – Maintaining low annual mileage could qualify for better rates on cars that stay parked.
  • Professional Organizations – Having an affiliation with a civic or occupational organization is a simple method to lower premiums on your next car insurance statement.
  • Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a break if you buy a life insurance policy as well.
  • Sign Early and Save – Select companies give a discount for switching companies before your current expiration date. This can save 10% or more.

One last thing about discounts, some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears you could get a free car insurance policy, car insurance companies aren’t that generous. Any amount of discount will bring down the amount you pay for coverage.

Larger car insurance companies and a summarized list of policyholder discounts are outlined below.

  • GEICO may offer discounts for multi-vehicle, membership and employees, anti-lock brakes, daytime running lights, multi-policy, defensive driver, and anti-theft.
  • MetLife discounts include good driver, defensive driver, claim-free, accident-free, good student, and multi-policy.
  • State Farm may include discounts for passive restraint, good driver, multiple autos, safe vehicle, driver’s education, accident-free, and anti-theft.
  • Progressive may have discounts that include multi-vehicle, continuous coverage, multi-policy, homeowner, online signing, and online quote discount.
  • Mercury Insurance offers discounts including multi-car, annual mileage, good student, type of vehicle, anti-theft, and good driver.
  • 21st Century includes discounts for homeowners, defensive driver, automatic seat belts, good student, driver training, and anti-lock brakes.
  • Allstate policyholders can earn discounts including 55 and retired, anti-lock brakes, FullPay discount, defensive driver, teenSMART discount, economy car, and auto/life discount.

Before you buy a policy, ask every company which discounts they offer. Some of the earlier mentioned discounts may not apply to policyholders in your area. To find car insurance companies that have a full spectrum of discounts, enter your zip code here.

Tailor your auto insurance coverage to you

When buying the best auto insurance coverage for your personal vehicles, there really is not a “perfect” insurance plan. Everyone’s needs are different.

For example, these questions may help you determine whether you may require specific advice.

  • Does my liability insurance cover pulling a trailer or camper?
  • When should I not file a claim?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Does my insurance cover a custom paint job?
  • Am I covered when driving on a suspended license?
  • When would I need additional glass coverage?
  • I don’t drive much so do I pay less?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete your zip code.

Informed consumers save more

Smart consumers have a good feel for some of the factors that aid in calculating the price you pay for car insurance. If you understand what determines base rates, this enables informed choices that could help you find lower premium levels.

The items below are some of the major factors used by your company to calculate your rate level.

  • Gender and insurance rates – Over the last 30 years, statistics show that females take fewer risks when driving. That doesn’t necessarily mean that males are worse at driving than females. Both sexes have fender benders in similar numbers, but the men tend to have higher claims. Men also get more serious tickets such as reckless driving. Male teenagers have the highest risk to insure so it costs more to insure them.
  • Multi-policy discounts can save money – Some car insurance companies allow lower prices to insureds that have more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, you still need to comparison shop to guarantee you are still saving the most.
  • Low physical damage deductibles can be expensive – The deductibles represent how much money you are willing to pay out-of-pocket in the event of a claim. Protection for physical damage, aka comp and collision, insures against damage to your car. Some coverage claims are colliding with a stationary object, vandalism, or theft of your vehicle. The higher the amount you choose to pay out-of-pocket, the lower your rates will be on 7 Series coverage.
  • Cheaper premiums for prior coverage – Driving any period of time without insurance is a big no-no and companies may charge more for letting your insurance lapse for non-payment. And not only will insurance be more expensive, the inability to provide proof of insurance may result in a revoked license or a big fine.
  • Your occupation can affect rates – Occupational choices like judges, air traffic controllers and medical professionals have higher premium rates attributed to high stress levels and incredibly demanding work hours. On the other hand, jobs such as scientists, historians and retirees have the lowest average rates on 7 Series coverage.
  • Tickets will cost you – Whether or not you get tickets influences premium rates substantially. Drivers who don’t get tickets receive lower rates than their less careful counterparts. Even one moving violation could increase your next policy renewal by as much as thirty percent. Drivers who have received careless violations like DUI, reckless driving or excessive speeding may find that they have to to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive a vehicle.
  • Save money with excellent credit – Having a good credit rating is likely to be a major factor in determining what you pay for car insurance. Insureds with good credit tend to be more responsible and file fewer claims than drivers who have lower credit scores. If your credit rating can use some improvement, you may save money insuring your 2017 BMW 7 Series if you improve your credit rating.

Insurance ads are enticing

Insurance companies such as Allstate and Progressive consistently run ads on TV and radio. All the ads make the point that drivers will save a bundle just by moving your policy. That’s great but how can every company offer you a better deal? It’s all in the words they use.

Most companies have strict underwriting profiles for the type of insured that will generate a profit. One example of a profitable risk profile should be over the age of 50, has no prior claims, and drives less than 7,500 miles a year. Any customer that meets those criteria will probably get cheap prices and most likely will save when they switch companies.

Drivers who fall outside these stringent criteria will see a higher premium which usually ends up with the customer buying from someone else. The ad wording is “people that switch” not “everybody who quotes” will save that much if they switch. That’s the way companies can make claims like that. This really drives home the point why drivers must get a wide range of price quotes. Because you never know which insurance companies will have the best car insurance rates at this point in time.

What insurance coverages do you need?

Understanding the coverages of your policy aids in choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Liability insurance – Liability insurance will cover damages or injuries you inflict on a person or their property. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged property.

Liability coverage pays for claims like emergency aid, court costs, structural damage and medical services. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible.

Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your BMW 7 Series.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.

Medical expense insurance – Coverage for medical payments and/or PIP provide coverage for expenses for EMT expenses, dental work, rehabilitation expenses, X-ray expenses and surgery. The coverages can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and may carry a deductible

Collision coverages – Collision coverage covers damage to your 7 Series resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims like hitting a mailbox, crashing into a ditch, damaging your car on a curb, sustaining damage from a pot hole and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to save money on collision insurance.

Comprehensive (Other than Collision) – Comprehensive insurance coverage 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 pays for things such as rock chips in glass, hail damage, hitting a bird and damage from getting keyed. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Power to the consumer

In this article, we presented a lot of tips how to compare 2017 BMW 7 Series insurance premium rates online. The most important thing to understand is the more providers you compare, the higher the chance of saving money. Consumers may even find the most savings is with a lesser-known regional company.

Cheaper 2017 BMW 7 Series insurance can be found from both online companies as well as from insurance agents, so you should compare both to get a complete price analysis. Some companies do not provide price quotes online and these regional carriers only sell coverage through independent agents.

When shopping online for auto insurance, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are too many instances where drivers have reduced physical damage coverage only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy a smart amount of coverage at a price you can afford, but do not skimp to save money.

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