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2018 BMW i8 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: May 1, 2020

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Trying to find lower insurance rates for your BMW i8? Feeling guilty for buying an underperforming, overpriced insurance policy? It’s quite common and you’re not the only one. Due to the increasing number of companies and agents to choose from, it can be diffult for drivers to choose the cheapest insurance provider.

It’s a good habit to compare rates occasionally because rates trend upward over time. Just because you had the best deal for i8 insurance on your last policy you may be paying too much now. Forget anything you know (or think you know) about insurance because you’re going to learn the tricks you need to know to find lower rates on insurance.

The quickest method we recommend to compare rates is to know all the major auto insurance companies provide online access to provide you with a free rate quote. To start a quote, the only thing you need to do is provide a little information such as what your job is, coverage limits, the ages of drivers, and types of safety features. That information is instantly sent to many highly-rated insurers and they provide comparison quotes quickly.

How do I know if I need professional advice?

When it comes to buying coverage, there really is not a cookie cutter policy. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that could help you determine whether your personal situation would benefit from professional advice.

  • Does my insurance cover a custom paint job?
  • Are rental cars covered under my policy?
  • When can I cancel my policy?
  • Is my ex-spouse still covered by my policy?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Does my policy cover my teen driver if they drive my company car?
  • Will filing a claim cost me more?
  • What is an SR-22 filing?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and enter your zip code. It only takes a few minutes and you can get the answers you need.

Car insurance coverage information

Understanding the coverages of your auto insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be confusing and reading a policy is terribly boring. Listed below are the normal coverages found on the average auto insurance policy.

Comprehensive coverages

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as vandalism, damage from getting keyed, hitting a bird and fire damage. The highest amount your auto insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for expenses such as funeral costs, rehabilitation expenses, surgery and ambulance fees. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Uninsured and underinsured coverage

Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your BMW i8.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Liability coverages

Liability coverage will cover damage or injury you incur to other people or property by causing an accident. It protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability can pay for things like loss of income, repair costs for stationary objects and funeral expenses. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.

Collision protection

This pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things such as crashing into a ditch, colliding with another moving vehicle and rolling your car. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible to bring the cost down.

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