BMW BMW 3-Series Insurance Rates
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UPDATED: Jan 13, 2020
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Want lower insurance rates for your BMW 3 Series? Are you overwhelmed by the wide range of insurance companies? You’re not the only one! You have so many options that it can be a real challenge to find the perfect company for you.
It’s smart to shop coverage around before your policy renews because rates trend upward over time. Even if you think you had the best rates for 3 Series insurance on your last policy other companies may now be cheaper. Starting right now, forget all the misinformation about insurance because you’re going to get a crash course in one of the easiest ways to find lower rates on insurance.
Best discounts on BMW 3 Series coverage
Companies that sell car insurance don’t always advertise every available discount very clearly, so the following is a list of some of the best known and also the lesser-known discounts you could be receiving.
- Defensive Driving Course – Taking part in a course teaching defensive driving skills can save you 5% or more if your company offers it.
- Good Student Discount – Performing well in school can earn a discount of 20% or more. The good student discount can last up until you turn 25.
- Organization Discounts – Affiliation with a qualifying organization is a good way to get lower rates on car insurance for 3 Series insurance.
- Theft Prevention System – Vehicles with anti-theft systems can help prevent theft and will save you 10% or more.
- No Accidents – Drivers with accident-free driving histories can save substantially compared to drivers who are more careless.
- Save over 55 – Older drivers may receive better car insurance rates for 3 Series insurance.
- Homeowners Pay Less – Owning a house can save you money because of the fact that having a home is proof that your finances are in order.
- Low Mileage – Driving fewer miles can qualify you for a substantially lower rate.
- Discount for Life Insurance – Companies who offer life insurance give a discount if you purchase life insurance.
- Multi-policy Discount – When you have multiple policies with one insurance company you may earn at least 10% off all policies.
As a disclaimer on discounts, most credits do not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like liability and collision coverage. So even though it sounds like having all the discounts means you get insurance for free, it doesn’t quite work that way.
Insurance companies who might offer these discounts may include but are not limited to:
Before buying, ask all companies you are considering what discounts are available to you. Some discounts may not be available in your area.
Finding Insurance Coverage Deals
To find the best insurance coverage prices, there are several ways to compare quotes and find the best price. The easiest way by far to find competitive 2012 BMW 3 Series insurance rates is to perform an online rate comparison. It is quite easy and can be accomplished in a couple of different ways.
- The best way consumers can analyze rates would be an industry-wide quote request form click to view form in new window. This type of form prevents you from having to do multiple quote forms for every insurance coverage company. Taking the time to complete one form will return quotes instantly. This is perfect if you don’t have a lot of time.
- A harder way to get quotes online requires visiting each company website to request a price quote. For example, we’ll pretend you want to compare Nationwide, GEICO and Liberty Mutual. To find out each rate you need to spend time on each company’s site to input your insurance information, which is why the first method is quicker.
For a handy list of car insurance company links in your area, click here.
- The most time-consuming way of comparing rate quotes is driving to and from local insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you have a need for the professional advice of a licensed agent. Drivers can price shop online and still use a local agent.
It’s up to you how you get prices quotes, just compare apples-to-apples coverage information for each price quote. If your comparisons have different values for each quote it will be very difficult to determine the best price for your BMW 3 Series. Slightly different coverages can result in a big premium difference. And when comparison shopping, more quotes helps you find the best price.
BMW 3 Series rate determination is complex
Consumers need to have an understanding of some of the elements that help determine the rates you pay for car insurance. Having a good understanding of what determines base rates allows you to make educated decisions that can help you get better car insurance rates.
- An active claims history can cost you – Companies provide discounts to drivers who do not rely on their insurance for small claims. If you file claims often, you can definitely plan on either a policy non-renewal or much higher rates. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Your car insurance rates can be influenced by your job – Did you know that where you work can have an impact on rates? Careers like doctors, business owners and financial analysts have higher average rates due to high stress and long work days. Conversely, occupations like farmers, engineers and performers get better rates for 3 Series insurance.
- Marriage pays dividends – Having a spouse helps lower the price on car insurance. Having a significant other is viewed as being more mature and responsible it has been statistically shown that married couples file fewer claims.
- Protect your assets with liability insurance – Your policy’s liability coverage is the protection in the event that a court rules you are at fault for damages caused by your negligence. It provides for a legal defense starting from day one. Liability is cheap as compared to coverage for physical damage, so do not skimp.
- Multi-policy discounts can save money – Some companies will give a discount to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can be anywhere from five to ten percent in most cases. Even if you’re getting this discount you still need to comparison shop to verify if the discount is saving money.
- Older drivers pay less – Youthful drivers tend to be more careless when behind the wheel so car insurance rates are higher. Older insureds are viewed as being more responsible, statistically cause fewer accidents and receive fewer citations.
- Poor credit can mean higher rates – A driver’s credit score is a huge factor in determining what you pay for car insurance. If your credit rating is lower than you’d like, you could pay less to insure your 2012 BMW 3 Series by spending a little time repairing your credit. Consumers who have high credit ratings tend to be less risk to insure than drivers with poor credit.
- Lower rates with optional equipment – Purchasing a vehicle with anti-theft technology or alarm system can help lower your rates. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping car theft.
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Tailor your coverage to you
When it comes to buying the best auto insurance coverage for your vehicles, there really is not a one size fits all plan. Everyone’s situation is a little different.
These are some specific questions might help in determining whether or not you might need an agent’s assistance.
- Is upholstery damage covered by car insurance?
- What discounts do I qualify for?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Do I need motorclub coverage?
- Can I make deliveries for my home business?
- Should I buy full coverage?
- Do all my vehicles need collision coverage?
- Should I bundle my homeowners policy with my auto?
- Will filing a claim cost me more?
- Why do I need rental car insurance?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, complete this form.
Do drivers who switch really save $455 a year?
Insurance coverage companies such as State Farm, Allstate and GEICO continually stream ads on television and other media. They all seem to say the same thing of big savings after switching to them. How do they all make the same claim? This is how they do it.
Different companies can use profiling for the type of customer they prefer to insure. An example of a driver they prefer could possibly be between the ages of 40 and 55, has no tickets, and drives less than 10,000 miles a year. A driver who meets those qualifications will get the preferred rates and as a result will probably save when switching.
Consumers who don’t measure up to the requirements will be charged more money which usually ends up with the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save money. That is how insurance companies can confidently make those claims. That is why you absolutely need to get a wide range of price quotes. It’s just too difficult to predict which company will give you the biggest savings on BMW 3 Series insurance.
Having a good grasp of a car insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring.
Collision – This coverage covers damage to your 3 Series caused by collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims like hitting a parking meter, driving through your garage door, crashing into a building and hitting a mailbox. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. It’s also possible to raise the deductible to save money on collision insurance.
Liability – Liability insurance protects you from injuries or damage you cause to people or other property by causing an accident. This insurance protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which stand for a $25,000 limit per person for injuries, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage protects against claims such as medical expenses, repair costs for stationary objects, emergency aid, repair bills for other people’s vehicles and attorney fees. How much coverage you buy is your choice, but consider buying higher limits if possible.
Medical expense coverage – Coverage for medical payments and/or PIP kick in for short-term medical expenses for EMT expenses, prosthetic devices, nursing services and dental work. They are used in conjunction with a health insurance plan or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your BMW 3 Series.
Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Comprehensive protection – This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as damage from flooding, damage from getting keyed, fire damage, a tree branch falling on your vehicle and hitting a bird. The most you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Don’t throw your cash in the trash
The cheapest 2012 BMW 3 Series insurance can be bought both online in addition to many insurance agents, so you should be comparing quotes from both to get a complete price analysis. There are still a few companies who do not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.
We’ve covered some good ideas how you can reduce insurance prices online. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. You may even find the most savings is with a small mutual company.
As you go through the steps to switch your coverage, it’s a bad idea to sacrifice coverage to reduce premiums. There are a lot of situations where someone sacrificed liability coverage limits to discover at claim time that the small savings ended up costing them much more. Your aim should be to purchase plenty of coverage for the lowest price.
Additional detailed information is located in the articles below:
- Drunk Driving Statistics (Insurance Information Insitute)
- Rollover Crash FAQ (iihs.org)
- Teen Driver Statistics (Insurance Information Insitute)
- Shopping for a Safe Car (Insurance Information Insitute)
- Your Car has been Stolen: Now What? (Allstate)
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