Cheap 2020 BMW i3 Car 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: Jun 9, 2024

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Searching for better insurance rates for your BMW i3? Purchasing cheaper insurance might appear problematic for drivers new to comparison shopping on the internet. With literally dozens of online companies, how can drivers have time to compare every company to locate cheaper insurance rates?

The quickest method we recommend to compare car insurance company rates takes advantage of the fact most of the larger companies pay for the opportunity to give free rates quotes. All you need to do is provide the companies a bit of rating information like if it has an alarm system, whether you have decent credit, whether the vehicles are used for commuting, and distance driven. That information is then submitted to multiple car insurance providers and you get price estimates with very little delay.

Use discounts on auto insurance

Not many people think insurance is cheap, but there may be some discounts that you may not even be aware of. Some discounts will apply at the time of quoting, but some may not be applied and must be specifically requested before you get the savings.

  • Safety Restraint Discount – Requiring all passengers to buckle up before driving could cut 10% or more on medical payment and PIP coverage.
  • Responsible Driver Discount – Insureds without accidents can pay as much as 50% less on i3 coverage as compared to drivers with claims.
  • Early Payment Discounts – By making one initial payment rather than spreading payments over time you may reduce your total bill.
  • More Vehicles More Savings – Buying coverage for primary and secondary vehicles with the same company qualifies for this discount.
  • Policy Bundle Discount – If you combine your home and auto policies with the same company you may save up to 20% and get you inexpensive auto insurance.

Don’t be shocked that most discounts do not apply to the entire cost. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Even though the math looks like you could get a free auto insurance policy, auto insurance companies aren’t that generous.

A list of companies and a summarized list of policyholder discounts can be read below.

  • State Farm may have discounts that include multiple autos, passive restraint, good student, driver’s education, and anti-theft.
  • GEICO discounts include defensive driver, good student, multi-vehicle, air bags, anti-lock brakes, anti-theft, and emergency military deployment.
  • SAFECO has discounts for teen safety rewards, safe driver, anti-lock brakes, anti-theft, multi-car, and teen safe driver.
  • Farmers Insurance includes discounts for bundle discounts, early shopping, homeowner, switch companies, and good student.
  • AAA policyholders can earn discounts including anti-theft, education and occupation, multi-car, AAA membership discount, pay-in-full, multi-policy, and good student.
  • USAA offers discounts including annual mileage, driver training, family discount, loyalty savings, new vehicle, military installation, and vehicle storage.

Before buying, ask every prospective company which credits you are entitled to. Some of the discounts discussed earlier might not be offered on policies in your area. If you would like to view companies that can offer you the previously mentioned discounts, enter your zip code here.

Tailor your auto insurance coverage to you

When it comes to buying the best auto insurance coverage, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.

For instance, these questions can help discover whether or not you could use an agent’s help.

  • Which companies will insure high-risk drivers?
  • Do I need replacement cost coverage on my 2020 BMW i3?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • How can I force my company to pay a claim?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Is there coverage for injuries to my pets?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • How high should deductibles be on a 2020 BMW i3?
  • What companies insure drivers after a DUI or DWI?
  • Is my BMW i3 covered if I use it for business?

If you don’t know the answers to these questions, you may need to chat with a licensed agent. If you don’t have a local agent, take a second and enter your zip code.

What car insurance coverages do you need?

Understanding the coverages of car insurance can be of help when determining the best coverages and the correct deductibles and limits. Car insurance terms can be confusing and coverage can change by endorsement.

Collision coverage

This covers damage to your i3 from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things such as damaging your car on a curb, sideswiping another vehicle, driving through your garage door and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to bring the cost down.


This provides protection from injuries or damage you cause to other people or property by causing an accident. This coverage protects you against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability insurance covers things like loss of income, attorney fees, medical services and court costs. How much coverage you buy is up to you, but you should buy as much as you can afford.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage pay for bills such as X-ray expenses, ambulance fees, dental work and doctor visits. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.

Comprehensive auto coverage

This pays for damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like a tree branch falling on your vehicle, damage from a tornado or hurricane and hail damage. The maximum amount a car 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.

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