2015 BMW 7 Series Insurance Rates in 2024 – 7 Discounts for Cheaper Quotes

Want lower car insurance rates for your BMW 7 Series? Pretty sure you bought overpriced car insurance? You’re preaching to the choir because you are not the only one feeling buyer’s remorse.

Lots of insurance companies contend for your business, and it can be difficult to compare rates and get the best coverage at the best rate

If you currently have car insurance, you will most likely be able to reduce your rates substantially using these methods. Choosing the best insurance company for you is easy if you know what you’re doing. But car owners can benefit from knowing the way insurance companies price insurance differently.

Take advantage of every insurance coverage discount

Companies do not advertise the entire discount list in a way that’s easy to find, so we break down a few of the more common as well as the least known credits available to bring down your rates.

• Good Student – Getting good grades can save 20 to 25%. The discount lasts well after school through age 25.
• Passive Restraints – Vehicles equipped with air bags or motorized seat belts may get savings of 20% or more.
• Sign Online – Many larger companies will discount your bill up to fifty bucks for signing up on your computer.
• Claim-Free Discount – Insureds with no claims or accidents have much lower rates when compared to drivers who are more careless.
• Include Life Insurance and Save – Some insurance coverage companies give a discount if you purchase auto and life insurance together.
• Lower Rates for Military – Having an actively deployed family member could trigger a small discount.
• Multiple Cars – Drivers who insure primary and secondary vehicles on the same insurance coverage policy qualifies for this discount.

As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce specific coverage prices like liability and collision coverage. So even though you would think having all the discounts means you get insurance for free, it doesn’t quite work that way.

If you would like to view insurers offering insurance coverage discounts, enter your zip code here.

How to know if you need help

When it comes to choosing the best auto insurance coverage, there really is no cookie cutter policy. Every situation is different so your insurance should reflect that For instance, these questions might help in determining whether you could use an agent’s help.

• Should I put collision coverage on all my vehicles?
• Do I pay less if my vehicle is kept in my garage?
• Are all vehicle passengers covered by medical payments coverage?
• When can I cancel my policy?
• Am I covered if I crash into my own garage door?
• Which is better, split liability limits or combined limits?
• Am I insured when driving a different vehicle?

If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and enter your zip code.

Car insurance myths debunked

Companies like State Farm, Allstate and GEICO constantly bombard you with television, radio, and online ads. They all seem to have a common claim that people will save if you change your car insurance policy to them. That’s great but how can every company give you a better price? This is the way they can do it.

Many companies have specific criteria for a prospective insured they prefer to insure. An example of a profitable risk profile might be described as over the age of 45, owns a home, and has a high credit rating. A customer getting a price quote that meets those criteria receive the lowest rate quotes and will save when they switch companies.

Insureds who do not meet those standards will get a higher rate and ends up with the customer not purchasing. If you listen to the ad wording, they say “customers who switch” not “all people who quote” can get the lowest rates when switching. That’s the way insurance companies can confidently claim big savings. Because every company is different, it’s extremely important to quote coverage with many companies. Because you never know which company will fit your personal profile best.

Auto insurance coverage basics

Having a good grasp of your auto insurance policy aids in choosing the right coverages for your vehicles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages available from auto insurance companies.

Liability car insurance – This coverage will cover damages or injuries you inflict on a person or their property in an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 that translate to $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability coverage pays for claims like attorney fees, legal defense fees and loss of income. How much coverage you buy is up to you, but buy higher limits if possible.

Collision coverages – This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like hitting a parking meter, colliding with a tree, rolling your car and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like pain medications, funeral costs and EMT expenses. They are often used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. They cover all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as a broken windshield, damage from a tornado or hurricane, falling objects, a tree branch falling on your vehicle and damage from flooding. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

A little work can save a LOT of money

Cost effective 2015 BMW 7 Series insurance can be sourced online in addition to many insurance agents, and you should be comparing both to get a complete price analysis. Some car insurance companies may not provide price quotes online and usually these small, regional companies only sell through independent agents.

As you prepare to switch companies, don’t be tempted to skimp on critical coverages to save a buck or two. In many instances, an insured cut collision coverage only to regret at claim time that it was a big error on their part. The goal is to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.