Cheap 2018 BMW X1 Insurance Cost

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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: Aug 23, 2022

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Consumers have lots of choices when looking for low-cost BMW X1 insurance. You can either waste hours driving around getting price quotes or save time using the internet to compare rates.

There are more efficient ways to compare car insurance rates so you’re going to learn the absolute fastest way to quote coverages on a BMW and locate the cheapest rates from both online companies and local agents.

More affordable rates with these insurance coverage discounts

Car insurance can cost a lot, but you might find some hidden discounts that can dramatically reduce your bill. Some discounts will apply when you quote, but lesser-known reductions have to be asked for prior to getting the savings.

  • Waiver for an Accident – Not really a discount, but a few companies such as Liberty Mutual, Allstate and State Farm will turn a blind eye to one accident before your rates go up so long as you are claim-free prior to the accident.
  • ABS and Traction Control Discounts – Cars and trucks that have anti-lock braking systems are much safer to drive and qualify for as much as a 10% discount.
  • Onboard Data Collection – Insureds that choose to allow their insurance company to monitor their driving habits by using a small device installed in their vehicle like Allstate’s Drivewise might see lower rates if they show good driving skills.
  • Save with a New Car – Putting coverage on a new car may earn a small discount because newer vehicles are generally safer.
  • Multi-policy Discount – When you have multiple policies with one company you may save up to 20% off your total premium.
  • Memberships – Participating in a qualifying organization is a simple method to lower premiums when getting a insurance coverage quote.
  • Drive Safe and Save – Drivers who avoid accidents can save up to 40% or more on their insurance coverage quote for X1 coverage than drivers with accidents.

One thing to note about discounts is that most discounts do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. Despite the appearance that all those discounts means the company will pay you, insurance companies wouldn’t stay in business.

A few popular companies and a summarized list of policyholder discounts are outlined below.

  • GEICO offers premium reductions for membership and employees, anti-theft, five-year accident-free, multi-policy, daytime running lights, and air bags.
  • SAFECO has discounts for anti-lock brakes, bundle discounts, drive less, homeowner, teen safety rewards, teen safe driver, and accident prevention training.
  • State Farm policyholders can earn discounts including passive restraint, good student, anti-theft, good driver, Steer Clear safe driver discount, and student away at school.
  • MetLife includes discounts for defensive driver, claim-free, accident-free, good driver, good student, multi-policy
  • 21st Century discounts include teen driver, good student, driver training, anti-lock brakes, and 55 and older.
  • Progressive offers discounts including online quote discount, good student, multi-policy, online signing, and homeowner.

If you need lower rates, check with every company which discounts you may be entitled to. Some discounts may not apply in your area. To find insurers who offer insurance coverage discounts, click here.

Quote car insurance online

Finding cheap car insurance rates is a fairly straight forward process. Just spend a few minutes to compare rate quotes to find. Price comparisons can be done in just a few minutes using one of these methods.

  1. The easiest and least time consuming way to find low rates would be an industry-wide quote request form click here to open form in new window. This method eliminates the need for a different quote to each individual car insurance company. One form gets insurance cost estimates from several companies. Just one form and you’re done.
  2. A more difficult way to find lower rates is spending the time to visit the website for every company you want to comare to request a price quote. For example, let’s say you want to compare rates from Farmers, GEICO and State Farm. To find out each rate you need to spend time going to each site individually and repeatedly type in your coverage information, which is why first method is reommended. For a list of links to insurance companies in your area, click here.
  3. If you have time to kill, the last method to get rate quotes is driving to local insurance agencies. Quoting online has made agencies unnecessary unless you prefer the extra assistance of a local agent. It is possible with some companies obtain prices from the web but still have the advice of a local agent.

The method you choose is up to you, but try to use identical coverages and limits on every quote. If you are comparing different coverage information you will not be able to determine the lowest rate for your BMW X1.

Components of your BMW X1 insurance costs

Many things are taken into consideration when you get your auto insurance bill. Some factors are common sense such as your driving history, but others are less apparent like where you live or your financial responsibility.

The itemized list below are a few of the things car insurance companies consider when setting your rates.

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  • Insurance rates for married couples – Your spouse may save some money on your policy. Marriage is viewed as being less irresponsible and it’s proven that married drivers get in fewer accidents.
  • Low credit score equals high prices – An insured’s credit rating is likely to be a major factor in your rate calculation. Therefore, if your credit history can use some improvement, you could save money insuring your 2018 BMW X1 if you improve your credit rating. People that have good credit tend to be more responsible and file fewer claims than those with lower credit ratings.
  • Car insurance rates and your employer – Did you know your job can affect your rates? Jobs such as lawyers, executives and miners tend to pay higher premiums than the average policyholder attributed to intense work requirements and lots of time spent at work. Conversely, jobs like scientists, historians and the unemployed generally pay rates lower than average for X1 coverage.
  • City traffic equals higher rates – Having an address in less populated areas of the country may provide you with better prices if you are looking for the lowest rates. Fewer drivers on the road translates into fewer accident claims and a lower car theft rate. Residents of big cities have more aggressive driving styles and more severe claims. The longer drive time means more chances of being involved in an auto accident.
  • Liability insurance risk factors in – Your car insurance policy’s liability coverage provides coverage if you are responsible for causing personal injury or damage in an accident. Your liability coverage provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so buy as much as you can afford.
  • Consolidate home and auto and save – Some insurance companies will give better rates to people that buy multiple policies in the form of a multi-policy discount. Even if you’re getting this discount it’s still a good idea to check prices from other companies to ensure the best deal.There is a good possibility that you can find better rates by splitting coverages up.

Auto insurance can get complicated

When it comes to buying proper insurance coverage for your personal vehicles, there isn’t really a cookie cutter policy. Each situation is unique.

For example, these questions can aid in determining if you will benefit from professional help.

  • Are all vehicle passengers covered by medical payments coverage?
  • What if I owe more than I can insure my car for?
  • Does my medical payments coverage pay my health insurance deductible?
  • Is my 2018 BMW X1 covered for flood damage?
  • Do I need special endorsements for business use of my vehicle?
  • When can my company non-renew my policy?
  • Can I afford to pay high deductible claims out of pocket?
  • Do I need an umbrella policy?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Does my policy cover me when driving someone else’s vehicle?

If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. If you don’t have a local agent, complete this form. It only takes a few minutes and can help protect your family.

Advertising and insurance coverage

Consumers can’t escape the ads for the lowest price insurance coverage by companies like State Farm and Allstate. They all seem to tend to make the same promise that drivers will save a bundle if you just switch your coverage to them.

How can each company sell you cheaper insurance coverage? You have to listen carefully.

All the different companies have underwriting criteria for the type of customer that earns them the most money. A good example of a profitable customer may be married and over the age of 30, has a low-risk occupation, and drives newer vehicles. Someone who matches that profile will qualify for the lowest premium rates and therefore will save when switching.

Potential insureds who do not meet those standards may be forced to pay a higher premium and ends up with the customer buying from a different company. If you listen to the ad wording, they say “people that switch” but not “all drivers who get quotes” save the amount stated. That’s why companies can make those statements.

Because each company has a different risk profile, you absolutely need to do a price quote comparison at every renewal. It’s just too difficult to predict which insurance coverage company will give you lower rates than your current company.

Specifics of your car insurance policy

Having a good grasp of car insurance can help you determine which coverages you need and proper limits and deductibles. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage kick in for expenses for things like doctor visits, ambulance fees, funeral costs, pain medications and prosthetic devices. They are often utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your BMW X1.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision protection

This coverage will pay to fix damage to your X1 resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like backing into a parked car, damaging your car on a curb and crashing into a ditch. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to get cheaper collision coverage.

Comprehensive insurance

Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as hitting a bird, a broken windshield, falling objects, hitting a deer and vandalism. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Auto liability insurance

This coverage protects you from injuries or damage you cause to a person or their property by causing an accident. It protects YOU against other people’s claims. It does not 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 liability limits of 50/100/50 which means a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000. Occasionally you may see a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against things such as repair costs for stationary objects, medical services and loss of income. How much coverage you buy is your choice, but consider buying as much as you can afford.

A fool and his money are soon parted

People switch companies for any number of reasons including high prices, policy cancellation, extreme rates for teen drivers or even poor customer service. Whatever your reason, choosing a new insurance company is easier than you think.

As you restructure your insurance plan, it’s a bad idea to reduce coverage to reduce premium. In too many instances, drivers have reduced liability coverage limits and found out when filing a claim that the few dollars in savings costed them thousands. The goal is to buy a smart amount of coverage at a price you can afford, but don’t skip important coverages to save money.

Some insurance companies may not offer online rate quotes smaller providers only sell through independent agencies. Lower-priced 2018 BMW X1 insurance can be bought on the web and from local agencies, so you should compare both so you have a total pricing picture.

Much more information about insurance is available below:

Use our FREE quote tool to compare rates now!

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