2004 BMW 3 Series Car Insurance Cost – 10 Tricks for Cheapest Prices
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UPDATED: Apr 15, 2022
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Tired of trying to scrape together enough money to pay for your 2004 BMW 3 Series Car Insurance cost each month? Your situation is no different from many other consumers. Companies like State Farm, Allstate, GEICO and Progressive constantly bombard you with fancy advertisements, and it is difficult to see past the corporate glitz and do the work needed to find the best deal.
You should take the time to get comparison quotes once or twice a year because insurance rates are constantly changing. Just because you found the best insurance for a BMW 3 Series a couple of years back, a different company probably has better rates today. Starting right now, ignore everything you know about insurance because it’s time to teach you the only way to save on insurance.
If you have insurance now or need new coverage, you can use these tips to cut your premiums and still get good coverage. Finding affordable coverage is not that difficult. Consumers just need to know the tricks to comparing prices on the web.
Discounts are basically free money
Insurance can be prohibitively expensive, but companies offer discounts that many people don’t even know exist. Larger premium reductions will be automatically applied at the time you complete a quote, but a few must be specifically requested before they will apply. If they aren’t giving you every credit available, you’re paying more than you need to.
- College Student – Children who attend school more than 100 miles from home and don’t have a car can receive lower rates.
- Drivers Ed for Students – Cut your cost by having your teen driver take driver’s ed class in high school.
- 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for a discount of up to 10% on 3 Series insurance.
- Government Employees – Simply working for the federal government can earn a discount of up to 10% on 3 Series insurance with a few car insurance companies.
- Anti-theft Discount – Cars that have factory anti-theft systems are stolen less frequently and earn discounts up to 10%.
- Discount for New Cars – Buying coverage on a new vehicle can be considerably cheaper since new cars are generally safer.
- Discounts for Safe Drivers – Drivers who don’t get into accidents may save up to 50% more on 3 Series insurance than drivers with accident claims.
- Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
- Accident Forgiveness – A handful of insurance companies will forgive one accident before your rates go up if you are claim-free for a certain period of time.
- Seat Belts Save – Buckling up and requiring all passengers to wear their seat belts can save up to 15% off your medical payments.
It’s important to understand that many deductions do not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverage such as comp or med pay. So despite the fact that it appears all the discounts add up to a free policy, companies don’t profit that way. But any discount will help reduce the cost of coverage.
A partial list of companies that possibly offer some of the above discounts are:
- American Family
- State Farm
- 21st Century
Check with each insurance company to see how you can save money. Discounts might not be offered in every state.
Which 2004 BMW 3 Series car insurance is the “right” coverage?
When it comes to choosing the best insurance coverage for your personal vehicles, there is no perfect coverage plan. Everyone’s situation is a little different and your policy should reflect that. For example, these questions could help you determine if your situation might need professional guidance.
- What is the minimum liability in my state?
- What should my uninsured motorist coverage limits be in my state?
- What exactly is covered by my policy?
- Are all vehicle passengers covered by medical payment’s coverage?
- Does my personal policy cover me when driving out-of-state?
- When should I not file a claim?
- Does my liability insurance cover pulling a trailer or camper?
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If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an insurance agent. If you want to speak to an agent in your area, complete this form to view a list of companies. It’s fast, doesn’t cost anything, and you can get the answers you need.
Can you really save $425 a year on 2004 BMW 3 Series car insurance?
Consumers constantly see and hear ads for the lowest price auto insurance by State Farm, Allstate and GEICO. All companies make the same claim about savings after switching to their company.
How can each company make the same claim?
All companies can use profiling for the right customer they prefer to insure. An example of a driver they prefer could be a mature driver, has no driving citations, and drives newer vehicles. A customer getting a price quote who fits that profile will qualify for the lowest rates and most likely will save when they switch companies.
Consumers who don’t qualify for the requirements will be charged a higher premium and ends up with the driver buying from a lower-cost company. The ads state “drivers who switch” but not “drivers who get quotes” save that kind of money. That is how companies can truthfully claim big savings.
That is why you should compare as many rates as you can. It’s not possible to predict the company that will provide you with the cheapest BMW 3 Series insurance rates.
Insurance coverage basics
Learning about the specific coverage of a insurance policy helps when choosing the best coverage for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below is the usual coverage found on most insurance policies.
Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible, then your comprehensive coverage will be paid.
Comprehensive can pay for claims like vandalism, damage from getting keyed, hitting a deer, damage from a tornado or hurricane and fire damage. The most your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability insurance provides protection from damage that occurs to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100, which means a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Occasionally, you may see a combined single limit or CSL, which provides one coverage limit without having the split limit caps.
Liability coverage protects against things like repair bills for other people’s vehicles, emergency aid, medical expenses and medical services. How much liability should you purchase? That is a personal decision, but its cheap coverage, so purchase as large an amount as possible.
Auto collision coverage
This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims such as damaging your car on a curb, crashing into a building and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider dropping it for older vehicles. It’s also possible to bump up the deductible to bring the cost down.
Medical expense coverage
Coverage for medical payments and/or PIP provides coverage for immediate expenses like surgery, X-ray expenses, rehabilitation expenses and nursing services. They can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover all vehicle occupants as well as getting struck while being a pedestrian. PIP is not universally available and may carry a deductible.
Uninsured or underinsured coverage
Your UM/UIM coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your BMW 3 Series.
Since many drivers 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 very important. Most of the time, your uninsured/underinsured motorist coverage does not exceed the liability coverage limits.
Stretch your dollar
When trying to cut insurance costs, do not sacrifice coverage to reduce premiums. There are too many instances where someone dropped collision coverage and discovered at claim time that the few dollars in savings cost them thousands. Your goal should be to purchase plenty of coverage at a price you can afford while still protecting your assets.
You just learned some good ideas on how to shop for insurance for a BMW 3 Series online. The most important thing to understand is the more companies you get rates for, the better the likelihood of reducing your rate. You may even find the biggest savings come from a small local company. Smaller companies may cover specific market segments cheaper than their larger competitors like State Farm, GEICO and Nationwide.
Low-cost insurance can be found both online and from independent agents, and you should compare both to get a complete price analysis. Some insurance providers don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
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