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1991 BMW 8 Series Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Mar 31, 2020

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Nobody looks forward to paying for insurance coverage, in particular when the cost is too high.

Lots of auto insurance companies contend for your business, so it can be very hard to choose a provider and uncover the absolute best rate

It’s a good idea to shop coverage around before your policy renews because prices are variable and change quite frequently. Just because you had the best rates on 8 Series coverage two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance coverage because you’re about to learn the only way to properly buy coverages while reducing your premium.

Verify you’re getting all your discounts

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to cut the cost considerably. Larger premium reductions will be automatically applied at the time of quoting, but some must be manually applied before they will apply.

  • Organization Discounts – Affiliation with certain professional organizations is a good way to get lower rates on your policy on 8 Series coverage.
  • Auto/Home Discount – If you insure your home and vehicles with the same insurance company you will save 10% to 20% off each policy.
  • Driver’s Ed – Cut your cost by having your teen driver successfully complete driver’s ed class if it’s offered in school.
  • Low Mileage Discounts – Fewer annual miles on your BMW can qualify you for better rates on cars that stay parked.
  • Life Insurance Discount – Select insurance companies reward you with a break if you buy a life insurance policy as well.
  • Lower Rates for Military – Being on active duty in the military may qualify for rate reductions.
  • Homeowners Discount – Being a homeowner may trigger a insurance coverage policy discount because of the fact that having a home demonstrates responsibility.

As a disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. Most only cut the price of certain insurance coverages like medical payments or collision. So even though it sounds like adding up those discounts means a free policy, it doesn’t quite work that way. Any amount of discount will bring down your overall premium however.

A partial list of companies that may offer these benefits include:

It’s a good idea to ask all companies you are considering how you can save money. Savings may not apply in your state.

When should I talk to an agent?

When it comes to choosing coverage, there is no single plan that fits everyone. Everyone’s situation is a little different so this has to be addressed. For instance, these questions may help you determine if your insurance needs might need an agent’s assistance.

  • Is pleasure use cheaper than using my 1991 BMW 8 Series to commute?
  • Do I need replacement cost coverage?
  • Where can I find high-risk insurance?
  • Can I drive in Mexico and have coverage?
  • Do I need more liability coverage?
  • Should I waive the damage coverage when renting a car?
  • Am I better off with higher deductibles on my 1991 BMW 8 Series?
  • Am I covered when using my vehicle for business?

If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier

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Car insurance coverages for a 1991 BMW 8 Series

Having a good grasp of insurance helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are typical coverage types available from insurance companies.

Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your 1991 BMW 8 Series.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked. Frequently the UM/UIM limits are set the same as your liablity limits.

Insurance for medical payments – Medical payments and Personal Injury Protection insurance kick in for bills such as surgery, pain medications, hospital visits, EMT expenses and funeral costs. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. It covers you and your occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Collision – This pays to fix your vehicle from damage 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 pays for claims like rolling your car, sideswiping another vehicle, driving through your garage door and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible to get cheaper collision coverage.

Auto liability insurance – Liability insurance protects you from damage or injury you incur to other people or property in an accident. It protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 50/100/50 which means a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability insurance covers claims like repair costs for stationary objects, loss of income, medical expenses, funeral expenses and court costs. The amount of liability coverage you purchase is up to you, but buy as large an amount as possible.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance coverage 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 coverage protects against claims like a tree branch falling on your vehicle, hail damage, theft, damage from a tornado or hurricane and a broken windshield. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

More choices the merrier

We just presented some good ideas how to lower your 1991 BMW 8 Series insurance rates. The key thing to remember is the more quotes you get, the higher your chance of finding lower rates. Drivers may discover the most savings is with an unexpected company. Some small companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm, GEICO and Nationwide.

As you restructure your insurance plan, don’t be tempted to buy poor coverage just to save money. In too many instances, an accident victim reduced liability coverage limits and found out when filing a claim that the small savings ended up costing them much more. The aim is to get the best coverage possible at an affordable rate while still protecting your assets.

To learn more, take a look at the resources below:

Use our FREE quote tool to compare rates now!

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