8 Tricks to Save on BMW 545i Insurance

Are you regretting buying high-priced auto insurance? You’re preaching to the choir because many consumers are feeling buyer’s remorse and feel like there’s no way out. Many auto insurance companies vie for your insurance dollar, and it can be difficult to compare rates and uncover the absolute lowest rate possible.

It is always a good idea to take a look at other company’s rates periodically because insurance rates trend upward over time. Even if you think you had the lowest premium rates on 545i insurance a couple years back there is a good chance you can find better prices now. Block out anything you think you know about auto insurance because you’re going to learn the things you must know in order to find lower rates on auto insurance.

If you have a policy now or need a new policy, you can use these tips to cut your premiums and still get good coverage. Choosing the best insurance company for you is not that difficult. Vehicle owners just need to know the tricks to shop online.

Eight discounts for cheaper auto insurance quotes

Auto insurance companies don’t always advertise all disounts very clearly, so the below list has some of the more common and the harder-to-find savings tricks you should be using when you .

Government Employee Discount – Active or retired federal employment could provide a small rate reduction on 545i insurance depending on your company.
Multiple Policy Discount – When you combine your auto and home insurance with the same insurance company you may save 10% to 20% off each policy.
Drivers Education – Have your child take driver’s ed class if offered at their school.
Seat Belts Save more than Lives – Drivers who require all occupants to buckle up before driving can save up to 15% on medical payment and PIP coverage.
Telematics Data Discounts – Drivers who elect to allow companies to study vehicle usage by using a small device installed in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive may see discounts as long as the data is positive.
Mature Driver Discount – Drivers over the age of 55 can get lower premium rates on 545i insurance.
Club Memberships – Having an affiliation with certain professional organizations can get you a small discount on your next auto insurance statement.
Multi-car Discount – Insuring more than one vehicle on one policy can reduce the rates for all insured vehicles.

Policy discounts save money, but most discounts do not apply to the entire cost. Most only apply to specific coverage prices like comprehensive or collision. Just because you may think you would end up receiving a 100% discount, you’re out of luck.

Companies and the discounts they provide are outlined below.

Progressive may include discounts for multi-vehicle, continuous coverage, good student, online quote discount, multi-policy, online signing, and homeowner.
GEICO may offer discounts for multi-vehicle, anti-lock brakes, defensive driver, seat belt use, five-year accident-free, emergency military deployment, and good student.
State Farm policyholders can earn discounts including passive restraint, multiple autos, defensive driving training, accident-free, good driver, good student, and Drive Safe & Save.
Esurance may have discounts that include paid-in-full, online shopper, emergency road assistance, claim free, and multi-policy.
The Hartford discounts include good student, air bag, vehicle fuel type, defensive driver, bundle, and anti-theft.

If you need lower rates, check with all companies you are considering the best way to save money. Savings might not be available to policyholders in your state. To see a list of insurance companies who offer discounts, click here to view.

Brand name doesn’t guarantee savings

Consumers get pounded daily by advertisements for cheaper auto insurance from companies such as State Farm, Allstate and GEICO. All the ads advertise claims that you can save if you get a free and switch your coverage to them.

How does every company offer you a better deal? You have to listen carefully.

All the different companies have an ideal profile for the type of driver that earns them the most money. For example, a preferred risk could be over the age of 35, has a low-risk occupation, and has excellent credit. Anybody that hits that “sweet spot” will get low car insurance rates and as a result will probably save money with a new company.

Consumers who don’t qualify for the “perfect” profile may be required to pay a higher premium which leads to the prospect going elsewhere. The wording the ads use say “drivers that switch” not “everybody who quotes” save that much. This is how companies can truthfully lure you into getting a quote.<img class="alignright" style="padding-top:15px" src="http://www.quoteclickinsure.com/blog/wp-content/uploads/ci175-93.jpg" alt=" insurance quotes” />

This emphasizes why drivers must compare many company’s prices. Because without a comparison, you cannot know which auto insurance company will have the best premium rates for your profile.

You may need specialized auto insurance coverage

When it comes to choosing proper insurance coverage, there really is no “best” method to buy coverage. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions might point out if your situation could use an agent’s help.

Is my BMW 545i covered for flood damage?
When should I drop full coverage on my BMW 545i?
Does my policy cover my teen driver if they drive my company car?
Am I covered by my employer’s commercial auto policy when driving my personal car for business?
Is my custom paint covered by insurance?
Are rental cars covered under my policy?
What companies insure drivers after a DUI or DWI?
Should I file a claim if it’s only slightly more than my deductible?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can help protect your family.

Specifics of your auto insurance policy

Having a good grasp of a 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 difficult to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most auto insurance policies.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Auto liability insurance

Liability insurance protects you from damage or injury you incur to a person or their property. It protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as structural damage, pain and suffering, medical expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

Collision coverage

Collision coverage covers damage to your 545i resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like driving through your garage door, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance pay for immediate expenses like chiropractic care, X-ray expenses and dental work. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Comprehensive coverages

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like hitting a bird, falling objects, rock chips in glass and damage from getting keyed. The most a auto insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

One last thing to lower rates

Cheap BMW 545i insurance is attainable from both online companies and from local insurance agents, so you need to with both in order to have the best price selection to choose from. Some companies do not provide online price quotes and many times these small insurance companies work with local independent agencies.

In this article, we presented many ideas to get a better price on BMW 545i insurance. The most important thing to understand is the more you , the better likelihood of getting . You may be surprised to find that the lowest rates are with a lesser-known regional company. These smaller insurers can often provide lower car insurance rates in certain areas compared to the large companies like State Farm, GEICO and Nationwide.