Lower Your 2013 BMW X3 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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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 12, 2022

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Using the web to shop for auto insurance can be complicated if you’ve never compared online quotes. But don’t be discouraged because we’re going to show you how.

You need to compare rates yearly because rates are adjusted regularly by insurance companies. Even if you think you had the lowest rates on X3 insurance two years ago other companies may now be cheaper. Starting now, ignore everything you know about auto insurance because I’m going to teach you one of the easiest ways to find better rates and still maintain coverage.

Factors that might impact rates for a BMW X3

An important part of buying insurance is that you know the factors that come into play when calculating 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 big savings.

The list below includes a partial list of the pieces companies use to determine your rates.

  • Liability coverage is cheap – Liability insurance will protect you if a court rules you are at fault for causing damage or personal injury in an accident. Liability provides you with a defense in court which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so buy as much as you can afford.
  • Higher deductibles cost less – Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your BMW. Examples of covered claims are collision with another vehicle, collision with an animal, or theft. The deductibles are how much you are willing to pay if you file a covered claim. The more expense you’re willing to pay, the less your company will charge you for insurance on X3 insurance.
  • Pleasure use saves money – Driving more miles in a year’s time the more you’ll pay to insure your vehicle. Most companies price each vehicle’s coverage based on how the vehicle is used. Autos not used for work or commuting get more affordable rates than vehicles that are driven to work every day. Ask your agent if your car insurance coverage is rated on the proper vehicle usage. Incorrect usage on your X3 may be wasting your money.
  • Always keep insurance in force – Driving your car without having proper coverage is illegal and car insurance companies will penalize you for letting your coverage have a gap. And not only will your rates increase, but being ticketed for driving with no insurance can result in a steep fine or even jail time.
  • Bundling policies can get discounts – Most insurance companies provide better rates to customers who buy several policies from them. It’s known as a multi-policy discount. Discounts can add up to 10 percent or more. Even if you’re getting this discount it’s in your best interest to shop around to confirm you are receiving the best rates possible. You may still be able to find a better deal by insuring with multiple companies.
  • Do you work long hours in a high stress job? – Did you know that where you work can have an impact on rates? Jobs such as real estate brokers, executives and dentists are shown to have the highest average rates due to stressful work requirements and lengthy work days. Other professions such as pilots, historians and performers pay the least on X3 insurance.

Discounts mean cheaper BMW X3 insurance rates

The price of auto insurance can be rather high, 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 specifically requested in order for you to get them.

  • Bundle and Save – If you have multiple policies with the same insurance company you could get a discount of up to 20% off your total premium.
  • Multiple Vehicles – Buying insurance for multiple vehicles with the same company qualifies for this discount.
  • Memberships – Affiliation with a qualifying organization may earn a discount on your policy on X3 insurance.
  • No Claims – Good drivers with no accidents pay much less compared to frequent claim filers.
  • College Student – Any of your kids who live away from home and don’t have a car may be able to be covered for less.
  • Good Student – Performing well in school can get you a discount of up to 25%. The discount lasts until age 25.
  • Senior Citizens – Older drivers can possibly qualify for a small decrease in premiums on X3 insurance.
  • Accident Waiver – Certain companies will allow you to have one accident before your rates go up if your claims history is clear for a set time period.
  • Defensive Driving Course – Successfully completing a driver safety course could possibly earn you a 5% discount depending on where you live.

Drivers should understand that most credits do not apply to your bottom line cost. Some only apply to individual premiums such as liability and collision coverage. Even though it may seem like adding up those discounts means a free policy, you won’t be that lucky. Any qualifying discounts will reduce your premiums.

To see a list of companies with discount auto insurance rates, click here to view.

Buyer beware of auto insurance advertising tricks

Auto insurance companies such as State Farm and Allstate constantly bombard you with ads on TV and radio. They all seem to make an identical promise that you can save if you switch to their company. But how can every company make the same claim? It’s all in the numbers.

All the different companies have a preferred profile for the driver that is profitable for them. For example, a desirable insured could be between 30 and 50, insures multiple vehicles, and has excellent credit. Any new insured who fits that profile gets the lowest rates and as a result will probably save quite a bit of money when switching.

Drivers who do not match the requirements will be charged higher rates and this can result in the customer not buying. The ad wording is “customers that switch” not “people who quote” save money. That’s the way insurance companies can confidently make the claims of big savings.

That is why drivers must get as many quotes as possible. Because you never know which company will give you the biggest savings on BMW X3 insurance.

Tailor your coverage to you

When it comes to buying the best insurance coverage, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s.

Here are some questions about coverages that could help you determine if your situation might need professional guidance.

  • If I drive on a suspended license am I covered?
  • Does my car insurance cover rental cars?
  • Is pleasure use cheaper than using my 2013 BMW X3 to commute?
  • Does my liability insurance cover pulling a trailer or camper?
  • What should my uninsured motorist coverage limits be in my state?
  • Does my insurance cover a custom paint job?
  • Why am I required to buy liability insurance?
  • Will my vehicle be repaired with OEM or aftermarket parts?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form.

Parts of your insurance policy

Learning about specific coverages of your insurance policy can help you determine the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy.

Medical payments coverage and PIP

Med pay and PIP coverage pay for expenses such as surgery, doctor visits, funeral costs and pain medications. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Collision protection

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as backing into a parked car, colliding with a tree, driving through your garage door, sideswiping another vehicle and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also bump up the deductible in order to get cheaper collision rates.

Comprehensive coverage

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as fire damage, falling objects, a broken windshield and damage from flooding. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage

This provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently these limits are identical to your policy’s liability coverage.

Liability car insurance

Liability insurance will cover damage that occurs to people or other property. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Alternatively, you may have one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things like funeral expenses, loss of income and bail bonds. The amount of liability coverage you purchase is a personal decision, but consider buying as large an amount as possible.

Best coverage at the best price

Lower-priced 2013 BMW X3 insurance is definitely available on the web and with local insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some insurance companies do not offer online quoting and these small, regional companies work with independent agents.

We’ve covered some good ideas how to lower your insurance rates. The most important thing to understand is the more rate comparisons you have, the better your comparison will be. Consumers may even find the lowest priced insurance coverage comes from a small local company.

Insureds change insurance companies for a number of reasons such as high prices, unfair underwriting practices, extreme rates for teen drivers and policy cancellation. Regardless of your reason, finding a great new company is easier than you think.

Even more information can be found by following these links:

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