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BMW BMW I3 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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UPDATED: Dec 9, 2021

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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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No car owner looks forward to paying premiums for auto insurance, especially when they are aware that the cost is way too high. With so many companies to choose from, it is very difficult to choose the most affordable insurance company.

It’s smart to compare premium rates on a regular basis because auto insurance prices change regularly. If you had the best rates for i3 coverage on your last policy the chances are good that you can find a lower premium rate today. You can find a lot of wrong information about auto insurance out there, but in this article, you’re going to get a lot of great tips on how to lower your auto insurance rates.

How much does insurance coverage cost?

Lowering your 2018 BMW i3 insurance coverage rates isn’t really that difficult. You just need to spend a few minutes on the computer to get quotes online with multiple companies. Comparing prices online can be done by following the guidelines below.

  1. If you are pressed for time, the simplest way consumers can analyze rates is an all-inclusive rate comparison. This easy form keeps you from doing repetitive form entry to each individual insurance coverage company. One form will get you rate comparisons from multiple low-cost companies.
  2. A different way to obtain and compare quotes online is to take the time to go to each company website and repeat the quote process again and again. For sake of this example, we’ll pretend you want to compare prices for Allstate, GEICO and Farmers. To get each rate you have to spend time on each company’s site to enter the same coverage data repeatedly, which is why the first method is quicker.
  3. If you have time to kill, the last method to quote and compare insurance rates is making phone calls or going to all the different insurance agencies. Comparing rate quotes online eliminates this option unless you want the advice and guidance that only an agent can give. If you prefer, some companies allow you to compare online quotes but have a local agent actually write the policy.

You can choose any of those ways to find more affodable coverage, but try to keep the same deductibles and coverage limits on every quote. If you have different liability limits it will be nearly impossible to find the best deal for your BMW i3.

Are you earning every discount?

Buying insurance coverage is not cheap, but there’s a good chance there are discounts to cut the cost considerably. Certain discounts will be applied when you purchase, but once in a while a discount must be manually applied prior to receiving the credit. If you check and find you aren’t receiving every discount you qualify for, you could be saving more on your insurance coverage.

  • Discount for Swiching Early – A few larger companies offer discounts for switching to them before your current expiration date. You may see this discount when you get insurance coverage quotes online.
  • Telematics Discount – Drivers who elect to allow data collection to analyze driving manner by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if their driving habits are good.
  • Good Grades Discount – Getting good grades can save 20 to 25%. This discount can apply up until you turn 25.
  • E-sign – Some of the larger companies provide a small discount for buying your policy on the internet.
  • Discount for New Cars – Adding a new car to your policy can get you a discount since newer vehicles have better safety ratings.

As is typical with insurance, some credits don’t apply to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, nobody gets a free ride.

A list of companies and some of the discounts can be found below.

  • State Farm discounts include driver’s education, good driver, accident-free, safe vehicle, passive restraint, and anti-theft.
  • American Family policyholders can earn discounts including bundled insurance, defensive driver, air bags, accident-free, Steer into Savings, and mySafetyValet.
  • AAA offers discounts including multi-policy, AAA membership discount, good driver, education and occupation, multi-car, and anti-theft.
  • GEICO includes discounts for good student, membership and employees, daytime running lights, emergency military deployment, air bags, multi-vehicle, and multi-policy.
  • Mercury Insurance has savings for ease of repair, age of vehicle, low natural disaster claims, multi-policy, annual mileage, and professional/association.
  • Farmers Insurance may offer discounts for early shopping, pay in full, alternative fuel, good student, and bundle discounts.
  • Progressive may have discounts that include multi-vehicle, online quote discount, good student, homeowner, continuous coverage, online signing, and multi-policy.

If you want low cost insurance coverage quotes, ask each company or agent to apply every possible discount. All car insurance discounts may not apply to policies in your area. If you would like to choose from a list of providers that offer the discounts shown above, enter your zip code here.

When in doubt talk to an agent

When choosing proper insurance coverage for your vehicles, there really is no best way to insure your cars. Every insured’s situation is different and your policy should reflect that. These are some specific questions might help in determining if your situation might need professional guidance.

  • Where can I find high-risk insurance?
  • Am I covered when delivering products for my home-based business?
  • Do I need higher collision deductibles?
  • Does coverage extend to Mexico or Canada?
  • Why is insurance for a teen driver so high?
  • What is the minimum liability in my state?
  • Should I have a commercial auto policy?
  • If my pet gets injured in an accident are they covered?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete your zip code. It only takes a few minutes and may give you better protection.

Truth in auto insurance advertising

Drivers constantly see and hear ads that claim the lowest car insurance rates by Allstate and Progressive. All the ads make an identical promise that drivers can save some big amount just by switching your auto insurance policy to them.

It sounds good, but how can they all make the same claim? This is the way they can do it.

Companies have a preferred profile for the type of insured that will most likely be profitable. For instance, a profitable customer might be described as between the ages of 40 and 55, has a low-risk occupation, and drives a lower-performance vehicle. A driver who meets those qualifications will probably get the lowest premium rates and will most likely save a lot if they switch.

Potential customers who don’t qualify for the ideal profile must pay a more expensive rate which results in business going elsewhere. The wording the ads use say “customers that switch” not “everyone who quotes” can get the lowest rates when switching. That is how insurance companies can confidently advertise the savings. Because of these techniques, drivers should compare quotes as often as possible. Because you cannot predict which company will have the best premium rates for your profile.

Learn about auto insurance coverages for a BMW i3

Having a good grasp of your policy aids in choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. These are typical coverages available from auto insurance companies.

Liability insurance – This coverage protects you from injuries or damage you cause to other people or property. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as structural damage, pain and suffering and legal defense fees. How much liability should you purchase? That is up to you, but you should buy as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM) – This provides protection from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your BMW i3.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for expenses for things like ambulance fees, dental work and surgery. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Collision – Collision insurance pays for damage to your i3 resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as scraping a guard rail, damaging your car on a curb, driving through your garage door, backing into a parked car and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. You can also choose a higher deductible to save money on collision insurance.

Comprehensive insurance – This pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like falling objects, a broken windshield and damage from flooding. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

And the best car insurance company is…

When buying insurance coverage, never buy less coverage just to save a little money. There are a lot of situations where an accident victim reduced physical damage coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to find the BEST coverage at the best cost but still have enough coverage for asset protection.

Cheaper car insurance is attainable on the web in addition to local insurance agencies, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies don’t offer rate quotes online and many times these smaller providers only sell coverage through local independent agents.

More tips and info about car insurance can be found at these sites:

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