Cheaper 2012 BMW 7 Series 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: May 9, 2024

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Paying for pricey BMW 7 Series insurance can dry up your personal savings and force you to tighten up your finances. Comparing cost estimates is a fast and free way to reduce premiums and put more money in your pocket.

Drivers have so many insurers to buy insurance from, and although it’s nice to have a choice, it can be more challenging to find the lowest rates.

You can change your insurance rates

It’s important that you understand some of the elements that are used to determine the rates you pay for car insurance. If you know what determines base rates, this allows you to make educated decisions that could help you find better car insurance rates.

The list below includes some of the most common factors companies use to determine premiums.

  • Always have car insurance – Driving without insurance coverage in place is a misdemeanor and as a result your rates will increase for letting your insurance coverage expire. Not only will rates go up, the inability to provide proof of insurance may result in a license revocation or jail time.
  • Get married and get better prices – Walking down the aisle can get you a discount on your car insurance policy. It is viewed as being less irresponsible and it’s statistically proven that married drivers get in fewer accidents.
  • How much liability insurance – Your car insurance policy’s liability coverage will provide protection when you are ruled to be at fault for physical damage or personal injury to other. It will provide you with a defense in court which can cost a lot. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
  • Save by driving less – The higher the mileage driven every year the higher the price you pay to insure it. Most companies charge to insure your cars based upon how you use the vehicle. Vehicles that are left in the garage receive lower rates than cars that get driven a lot. Double check that your car insurance coverage shows annual mileage, because it can save money. Having the wrong rating on your 7 Series is just wasting money.
  • A good credit score can save money – A driver’s credit score will be a significant factor in determining your rates. If your credit is low, you could save money insuring your 2012 BMW 7 Series by spending a little time repairing your credit. Insureds that have high credit ratings tend to file fewer claims and have better driving records than those with poor credit.

Use discounts to get cheaper auto insurance quotes

Car insurance companies do not list every discount very well, so the following list contains a few of the more well known as well as the least known credits that may apply to you.

  • Paperless Signup – Many insurance companies will provide an incentive shop car insurance on the internet.
  • Discount for New Cars – Buying a new car model is cheaper due to better safety requirements for newer models.
  • No Accidents – Insureds with no claims or accidents can earn big discounts as compared to policyholders that have many claims.
  • Multiple Cars – Having multiple cars or trucks with the same auto insurance company may reduce the rate for each vehicle.
  • Drivers Education – Require your teen driver to enroll and complete driver’s education in high school.
  • Passive Restraints – Options like air bags and/or automatic seat belt systems could see savings of up to 25% or more.
  • Anti-lock Brakes – Anti-lock brake equipped vehicles are safer to drive so companies give up to a 10% discount.

Remember that many deductions do not apply to the entire policy premium. Most only reduce specific coverage prices like medical payments or collision. So even though they make it sound like you could get a free auto insurance policy, company stockholders wouldn’t be very happy.

Car insurance companies that may offer policyholders some of the discounts shown above include:

  • State Farm
  • Liberty Mutual
  • The Hartford
  • MetLife
  • Progressive

If you need the cheapest car insurance quotes, ask each company or agent what discounts are available to you. Savings may not be available in your area. If you would like to view insurers that offer some of these discounts, enter your zip code here.

Will you really save $396 on auto insurance?

Companies like State Farm, Allstate and GEICO constantly bombard you with ads on television and other media. They all seem to state the claim that drivers can save some big amount just by switching to their company. How do they all make almost identical claims? You have to listen carefully.

Most companies require specific criteria for a prospective insured that will generate a profit. An example of this type of insured might be described as between the ages of 30 and 50, has no prior claims, and the vehicle is rated for pleasure use. A customer who fits those characteristics will get very good car insurance rates and most likely will cut their rates substantially.

Potential customers who are not a match for the ideal profile must pay a higher rate which leads to the prospect going elsewhere. If you pay attention, the ads say “drivers who switch” not “everyone who quotes” save that much when switching. That’s why companies can lure you into getting a quote. This emphasizes why you really should do a quote comparison often. It is impossible to guess with any certainty which company will have better car insurance rates than you’re paying now.

Tailor your insurance coverage coverage to you

When choosing proper insurance coverage for your vehicles, there is no “best” method to buy coverage. Everyone’s situation is unique and your policy should reflect that. These are some specific questions can aid in determining whether or not you would benefit from professional advice.

  • Do I need Motor Club coverage?
  • Do I really need UM/UIM coverage?
  • Can my teen drive my company car?
  • Do I need PIP coverage since I have good health insurance?
  • Why am I required to get a high-risk car insurance policy?
  • Is my state a no-fault state?
  • When can my company non-renew my policy?
  • Who is covered by my policy?
  • Which is better, split liability limits or combined limits?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and enter your zip code.

Information about specific coverages

Understanding the coverages of your insurance policy can help you determine the right coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and coverage can change by endorsement. Listed below are the normal coverages available from insurance companies.

Uninsured Motorist or Underinsured Motorist insurance

This gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Insurance for medical payments

Med pay and PIP coverage provide coverage for immediate expenses like chiropractic care, funeral costs, doctor visits, EMT expenses and nursing services. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision)

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like hail damage, fire damage, damage from a tornado or hurricane, a broken windshield and falling objects. The maximum payout your insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability coverage

Liability coverage can cover damage that occurs to a person or their property by causing an accident. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for things like emergency aid, attorney fees, medical services, medical expenses and legal defense fees. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Coverage for collisions

This will pay to fix damage to your 7 Series caused by collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like crashing into a building, rolling your car, colliding with a tree and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. You can also choose a higher deductible in order to get cheaper collision rates.

Power to the consumer

Low-cost 2012 BMW 7 Series insurance can be sourced both online in addition to local insurance agencies, and you should compare price quotes from both to have the best selection. A few companies may not have online quoting and many times these small insurance companies sell through independent insurance agents.

Throughout this article, we presented quite a bit of information on how to reduce 2012 BMW 7 Series insurance prices online. The most important thing to understand is the more you quote car insurance, the more likely it is that you will get a better rate. You may even find the best prices are with a lesser-known regional company. These companies may often insure only within specific states and give getter rates than the large multi-state companies such as GEICO and State Farm.

As you shop your coverage around, do not buy poor coverage just to save money. There have been many cases where drivers have reduced physical damage coverage only to regret that the few dollars in savings costed them thousands. Your strategy should be to buy enough coverage at the best possible price, not the least amount of coverage.

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