2022 BMW 8 Series Insurance Rates in 2024 – 7 Savings Tips

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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 5, 2024

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Searching for better car insurance rates for your BMW 8 Series? Buying cheaper car insurance on the web can appear to be overwhelming for buying their car insurance on the internet. Since there are so many companies in the marketplace, how can you have time to compare every one to find the best pricing?

Choosing the best insurance company for you is easy if you know what you’re doing. If you have car insurance now, you will be able to lower your premiums substantially using these tips. But consumers must learn how insurance companies market on the web and apply this information to your search.

Seven discounts for cheap auto insurance rates

Insuring your fleet can be pricey, but you may find discounts to help bring down the price. Some discounts apply automatically when you quote, but lesser-known reductions have to be asked for prior to receiving the credit.

  • Homeowners Pay Less – Just being a homeowner may earn you a small savings because it means you have a higher level of financial diligence.
  • Data Collection Discounts – Drivers that enable driving data submission to spy on driving patterns remotely like In-Drive from State Farm and Progressive’s Snapshot might get better premium rates as long as they are good drivers.
  • Passenger Safety Discount – Factory air bags or automatic seat belts may qualify for discounts as much as 30%.
  • Pay Now and Pay Less – If you can afford to pay the entire bill instead of making monthly payments you can avoid the installment charge.
  • Student in College – Children who are enrolled in a college that is more than 100 miles from home and won’t have access to an insured vehicle can receive lower rates.
  • Anti-theft System – Vehicles that have factory alarm systems and tracking devices help deter theft and that can save you a little bit as well.
  • E-sign Discounts – Certain auto insurance companies will give you a small discount for signing up on their website.

You can save money using discounts, but most of the big mark downs will not be given to the whole policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like it’s possible to get free car insurance, you’re out of luck.

The best auto insurance companies and a summarized list of policyholder discounts are outlined below.

  • GEICO has savings for multi-policy, air bags, anti-lock brakes, membership and employees, driver training, and seat belt use.
  • Travelers discounts include multi-car, good student, hybrid/electric vehicle, payment discounts, multi-policy, and home ownership.
  • Farm Bureau offers discounts including safe driver, youthful driver, multi-vehicle, driver training, 55 and retired, and multi-policy.
  • Liberty Mutual may have discounts that include teen driver discount, hybrid vehicle, new move discount, new graduate, new vehicle discount, newly married, and safety features.
  • American Family offers discounts for air bags, good driver, multi-vehicle, mySafetyValet, bundled insurance, Steer into Savings, and accident-free.
  • Progressive policyholders can earn discounts including multi-policy, homeowner, good student, online quote discount, continuous coverage, and online signing.

If you want cheap insurance quotes, ask every company to apply every possible discount. Some discounts may not be offered everywhere. To choose auto insurance companies that have a full spectrum of discounts, enter your zip code here.

You may need specialized insurance coverage coverage

When buying adequate coverage, there really is not a cookie cutter policy. Everyone’s situation is unique.

For instance, these questions can aid in determining whether your personal situation would benefit from an agent’s advice.

  • Is my camper covered by my car insurance policy?
  • Does insurance cover tools stolen from my truck?
  • Do I need medical payments coverage since I have good health insurance?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does my policy pay for OEM or aftermarket parts?
  • Should I have a commercial auto policy?
  • Should I drop comprehensive coverage on older vehicles?

If you don’t know the answers to these questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete your zip code.

Insurance coverage options for a BMW 8 Series

Understanding the coverages of a insurance policy can help you determine the right coverages at the best deductibles and correct limits. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording.

Liability car insurance

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

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability coverage protects against claims such as attorney fees, legal defense fees, repair costs for stationary objects and medical expenses. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.

Medical costs insurance

Medical payments and Personal Injury Protection insurance kick in for bills like ambulance fees, EMT expenses, doctor visits and prosthetic devices. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants in addition to any family member struck as a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

UM/UIM Coverage

This coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and also any damage incurred to your BMW 8 Series.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Collision protection

Collision coverage will pay to fix damage to your 8 Series resulting from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision coverage protects against claims such as rolling your car, colliding with another moving vehicle and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like fire damage, hail damage and rock chips in glass. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Don’t be a big spender

When searching for affordable insurance quotes, you should never buy poor coverage just to save money. In many cases, an accident victim reduced physical damage coverage only to find out they didn’t purchase enough coverage. The aim is to buy the best coverage you can find at the best possible price while not skimping on critical coverages.

Throughout this article, we presented some good ideas how to save on 2022 BMW 8 Series insurance. The key concept to understand is the more price quotes you have, the better likelihood of getting inexpensive insurance. You may be surprised to find that the lowest rates come from an unexpected company.

The cheapest 2022 BMW 8 Series insurance can be sourced both online in addition to local insurance agencies, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance companies do not provide online rate quotes and most of the time these smaller companies only sell through independent agents.

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