2023 BMW 7 Series Car Insurance Quotes in 2024 – 6 Tips to Save

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 9, 2024

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If you’re new to shopping for insurance quotes online, you can easily be baffled because of the huge number local agents and online companies all claiming to have the lowest rates.

It is always a good idea to do rate comparisons at least once a year because insurance prices are adjusted regularly by insurance companies. If you had the best rates on 7 Series insurance on your last policy you can probably find a better rate quote now. You can find a lot of wrong information about insurance out there, but we’re going to give you a bunch of ideas how to buy insurance cheaper.

This article will familiarize you with how to get online quotes and some money-saving tips. If you currently have a car insurance policy, you will most likely be able to save some money using these techniques. But drivers must comprehend the way insurance companies sell online and take advantage of how the system works.

Discount car insurance quotes

Companies that sell car insurance don’t always advertise every available discount very well, so the list below contains both the well known and the harder-to-find savings tricks you should be using when you buy insurance online.

  • Defensive Driver – Participating in a class that teaches defensive driver techniques is a good idea and can lower rates and also improve your driving technique.
  • Multi-policy Discount – If you can combine your auto and homeowners policy with one company you could earn a discount of nearly 15% which can help you find low cost insurance.
  • Active Service Discounts – Having an actively deployed family member may qualify for rate reductions.
  • Use Seat Belts – Forcing all vehicle occupants to buckle up before driving can save a little off the medical payments premium.
  • Save over 55 – If you qualify as a senior citizen, you may receive lower premium rates on 7 Series insurance.
  • Save with a New Car – Insuring a new car may earn a small discount since newer vehicles are generally safer.

A little disclaimer on discounts, most credits do not apply to the whole policy. Most only apply to specific coverage prices like collision or personal injury protection. Even though the math looks like all those discounts means the company will pay you, it just doesn’t work that way.

A few popular companies and some of the premium reductions they offer are included below.

  • State Farm may offer discounts for accident-free, driver’s education, Drive Safe & Save, defensive driving training, good driver, anti-theft, and multiple autos.
  • Esurance has savings for safety device, Pac-12 alumni, anti-theft, good driver, defensive driver, renters, and paid-in-full.
  • Progressive includes discounts for good student, continuous coverage, online signing, multi-policy, online quote discount, homeowner, and multi-vehicle.
  • Liberty Mutual has discounts for exclusive group savings, multi-policy, multi-car, hybrid vehicle, new vehicle discount, new move discount, and newly retired.
  • Auto-Owners Insurance offers discounts including multi-policy, safe driver, teen driver, air bags, anti-theft, and mature driver.
  • GEICO offers discounts for air bags, daytime running lights, membership and employees, good student, anti-theft, and defensive driver.

It’s a good idea to ask every company which discounts you may be entitled to. Some discounts might not be offered in your area. To find providers who offer discounts, enter your zip code here.

Tailor your insurance coverage to you

When it comes to choosing proper insurance coverage for your personal vehicles, there isn’t really a cookie cutter policy. Every insured’s situation is different.

For example, these questions can aid in determining whether your personal situation will benefit from professional help.

  • Am I covered if hit by an uninsured driver?
  • Do I benefit by insuring my home with the same company?
  • When does my teenage driver need to be added to my policy?
  • Should I buy more coverage than the required minimum liability coverage?
  • What is high-risk coverage and where do I buy it?
  • What vehicles should carry emergency assistance coverage?
  • Does my medical payments coverage pay my health insurance deductible?
  • Should I put collision coverage on all my vehicles?

If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, complete your zip code.

The ad said I’d save $432 a year!

Well-known insurance coverage companies like Allstate, GEICO and Progressive regularly use ads on TV and radio. All the companies make the point that drivers can save some big amount if you just switch your policy. That’s great but how can every company offer drivers better rates? It’s all in how they say it.

All the different companies quote their cheapest rates for the type of insured that is profitable for them. One example of a profitable risk profile should be between the ages of 30 and 50, has no claims, and the vehicle is rated for pleasure use. Someone who fits that profile receives the best prices and will probably save when they switch companies.

Potential insureds who don’t qualify for these stringent criteria will get a higher premium and this can result in the customer not purchasing. If you listen to the ad wording, they say “drivers who switch” but not “all drivers who get quotes” will save that much if they switch. That is how insurance companies can confidently claim big savings.

This really drives home the point why you need to compare rate quotes every year. It is just not possible to predict with any certainty which company will give you the biggest savings.

Parts of your auto insurance policy

Understanding the coverages of your auto insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Comprehensive auto coverage

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things like a broken windshield, a tree branch falling on your vehicle, hail damage, vandalism and damage from getting keyed. The most your auto insurance company will pay is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.


This will cover damage or injury you incur to other’s property or people by causing an accident. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers claims such as pain and suffering, funeral expenses, emergency aid and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for collisions

This coverage will pay to fix damage to your 7 Series from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like colliding with a tree, hitting a parking meter, sustaining damage from a pot hole, rolling your car and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from lower value vehicles. Another option is to raise the deductible to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your BMW 7 Series.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually these coverages are similar to your liability insurance amounts.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP kick in for bills for things like prosthetic devices, pain medications, funeral costs and doctor visits. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is not universally available and may carry a deductible

Have the Midas touch

As you go through the steps to switch your coverage, it’s very important that you do not buy poor coverage just to save money. Too many times, an insured dropped physical damage coverage only to find out that the small savings ended up costing them much more. The proper strategy is to buy enough coverage at an affordable rate, but do not skimp to save money.

Drivers leave their current company for a number of reasons such as an unsatisfactory settlement offer, being labeled a high risk driver, not issuing a premium refund or even extreme rates for teen drivers. Regardless of your reason, choosing a new insurance company is easier than you think.

We covered some good ideas how to reduce 2023 BMW 7 Series insurance car insurance rates online. It’s most important to understand that the more companies you get premium rates for, the higher the chance of saving money. You may even discover the lowest priced insurance comes from some of the smallest insurance companies.

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