Cheap 2006 BMW 7 Series Insurance Quotes

Want the cheapest insurance rates? Drivers have a choice when trying to find affordable BMW 7 Series insurance. They can either spend hours struggling with agents to get rate comparisons or use the internet to make rate comparisons.

There is a right way and a wrong way to shop for insurance and you need to know the best way to price shop coverage for a new or used BMW and find the lowest price.

It’s a good idea to do price comparisons periodically because insurance prices trend upward over time. Even if you think you had the best rates on 7 Series insurance six months ago there is a good chance you can find better rate quotes now. There is a lot of wrong information about insurance online but in a few minutes you can learn some of the best ways to lower your insurance rates.

If you have a current car insurance policy or are shopping for new coverage, you can use these tips to find the best rates while maintaining coverages. This article will instruct you on how car insurance quotes work and some money-saving tips. Consumers only need to know the tricks to buy car insurance online.

Get lower rates by taking advantage of discounts

Some companies don’t always advertise all available discounts very clearly, so we researched a few of the more common as well as some of the hidden credits that you can use to lower your rates.

• Seat Belts Save – Drivers who require all occupants to wear their seat belts can save up to 15% off the personal injury premium cost.
• Braking Control Discount – Cars, trucks, and SUVs equipped with ABS or steering control can stop better under adverse conditions and therefore earn up to a 10% discount.
• Bundled Policy Discount – If you have multiple policies and insure them both with the same insurance company you could get a discount of up to 20% and get you cheaper insurance.
• One Accident Forgiven – Not really a discount, but a handful of insurance companies permit an accident before raising your premiums if you have no claims for a certain period of time.
• Low Mileage Discounts – Keeping the miles down on your BMW can earn lower rates on the low mileage vehicles.

You should keep in mind that most of the big mark downs will not be given the the whole policy. The majority will only reduce specific coverage prices like liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, companies don’t profit that way.

Insurance companies that possibly offer many of the previously listed discounts are:

• Geico
• Travelers
• Farm Bureau
• Liberty Mutual
• American Family
• Progressive

It’s a good idea to ask every company the best way to save money. Depending on the company, some discounts may not be offered everywhere. To see a list of companies that provide some of the discounts listed above, click here.

BMW 7 Series insurance price factors

Many things are taken into consideration when quoting car insurance. Some of the criteria are obvious such as traffic violations, but others are not quite as obvious such as your credit history or your vehicle rating.

The items below are some of the major factors used by companies to determine rates.

• Bundle and save – The majority of companies will award a discount to policyholders who carry more than one policy, otherwise known as a multi-policy discount. Discounts can amount to ten or even fifteen percent. Even with this discount applied, it’s always a smart idea to compare other insurance prices to make sure you are getting the best deal. Consumers may find better rates by splitting coverages up.
• Reduce rates by driving cars with good safety ratings – Safe vehicles tend to be cheaper to insure. Safer cars protect occupants better and reduced instances of injuries translates directly to fewer claims and lower rates for you. If your BMW 7 Series scored better than four stars on Safercar.gov you may qualify for a discount.
• Gaps in coverage mean higher insurance coverage rates – Driving without insurance can get your license suspended and as a result your rates will increase for letting your coverage lapse. In addition to paying higher premiums, being ticketed for driving with no insurance can result in fines and jail time.
• Premiums increase with policy add-ons – Insurance policies have a lot of extra add-on coverages that you can buy when buying insurance coverage. Coverages like rental car reimbursement, accidental death, and extra life insurance coverage may be wasting your money. They may seem like a good idea when you first buy your policy, but your needs may have changed so remove them and pocket the money.
• Raise your physical damage deductibles for better premiums – Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your BMW. Examples of some claims that would be covered would be running into the backend of another car, damage from fire, and having your car stolen. Comp and collision deductibles tell how much you are willing to pay if a claim is determined to be covered. The more of the claim you pay before a claim is paid (deductible), the lower your rates will be on 7 Series insurance.
• Gender and auto insurance premiums – Over the last 30 years, statistics show that females take fewer risks when driving. The data does not necessarily mean that men are worse drivers. Males and females get in at-fault accidents in similar numbers, but men tend to have more serious accidents. Men also statistically have more aggressive citations such as DWI and reckless driving.

How much auto insurance do I need?

When buying adequate coverage, there really is no cookie cutter policy. Your needs are not the same as everyone else’s.

For instance, these questions may help highlight if you could use an agent’s help.

• Does coverage extend to Mexico or Canada?
• Does having multiple vehicles earn me a discount?
• If my pet gets injured in an accident are they covered?
• I don’t drive much so do I pay less?
• If I drive on a suspended license am I covered?
• How many claims can I have before being cancelled?
• Am I getting all the discounts available?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can help protect your family.

Specific coverages for a 2006 BMW 7 Series

Having a good grasp of your car insurance policy can help you determine the right coverages for your vehicles. The terms used in a policy can be confusing and reading a policy is terribly boring.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for nursing services, doctor visits and dental work. They are used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision)

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as a broken windshield, rock chips in glass, hitting a bird and hitting a deer. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Collision coverage

Collision insurance pays for damage to your 7 Series resulting from a collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things like driving through your garage door, crashing into a building, scraping a guard rail, hitting a mailbox and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. It’s also possible to raise the deductible to save money on collision insurance.

Uninsured Motorist or Underinsured Motorist insurance

This gives you protection from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW 7 Series.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Liability auto insurance

This coverage protects you from damage that occurs to other’s property or people. This coverage protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things like repair bills for other people’s vehicles, medical services, pain and suffering and loss of income. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

One last thing

Cheaper 2006 BMW 7 Series insurance can be bought from both online companies and with local insurance agents, so get free insurance quotes from both of them so you have a total pricing picture. There are still a few companies who do not offer rates over the internet and most of the time these small, regional companies work with local independent agencies.

People switch companies for a variety of reasons including policy non-renewal, being labeled a high risk driver, questionable increases in premium or not issuing a premium refund. It doesn’t matter what your reason, finding the right insurance provider is not as hard as you think.

We just presented many tips how you can compare 2006 BMW 7 Series insurance prices online. The most important thing to understand is the more companies you get rates for, the higher your chance of finding cheaper insurance. Drivers may discover the lowest prices are with a small local company.

To read more, link through to the resources below:

• Distracted Driving Extends Beyond Texting (State Farm)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Credit and Insurance Scores (Insurance Information Insitute)
• Information for Teen Drivers (Geico)