Affordable Insurance for a BMW 328i in Dallas

The most effective way to get cheaper BMW 328i insurance in Dallas is to start doing a yearly price comparison from different companies who can sell car insurance in Texas.

1. Get a basic knowledge of how companies price auto insurance and the changes you can make to prevent expensive coverage. Many things that cause high rates such as speeding tickets, careless driving and a bad credit rating can be improved by making minor changes to your lifestyle. Keep reading for more details to help reduce prices and get additional discounts that may be available.
2. Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO and Allstate, while independent agencies can provide prices from multiple insurance companies.
3. Compare the new rates to your existing rates and see if there is a cheaper rate. If you find a lower rate and switch companies, ensure coverage does not lapse between policies.

One thing to point out is to make sure you enter similar deductibles and liability limits on every quote and and to get price quotes from as many different insurance providers as possible. Doing this enables a level playing field and a thorough price selection.

A recent survey discovered that 70% of consumers have remained with the same car insurance company for at least four years, and practically 40% of car insurance customers have never compared rate quotes at all. With the average premium in Texas being $2,679, drivers could save an average of 70% each year, but they just assume it takes a lot of time to do a rate comparison.

Lower Insurance Rates with These Tips

When buying insurance it’s important to understand the rating factors that go into determining insurance rates. If you understand what determines base rates, this allows you to make good choices that could help you find lower rates.

The list below includes a few of the things used by insurance companies to determine premiums.

• Pleasure use saves money – The more you drive your BMW in a year’s time the more you’ll pay to insure your vehicle. Almost all companies price each vehicle’s coverage partially by how you use the vehicle. Vehicles that are left in the garage cost less to insure than cars that get driven a lot. An incorrectly rated 328i may be wasting your money. Verify your insurance policy properly reflects the correct usage for each vehicle, because improper ratings can cost you money.
• Little extras can really add up – Insurance policies have a lot of add-on coverages that can waste your money on your 328i policy. Coverages for coverage for rental cars, death and dismemberment, and Farm Bureau memberships may be wasting your money. They may seem good when deciding what coverages you need, but your money might be better spent on other coverage so get rid of them and save.
• More traffic equals higher rates – Living in a rural area has definite advantages if you are looking for the lowest rates. Lower population means reduced accidents and lower theft and vandalism rates. Drivers who live in large Texas cities tend to have more aggressive driving styles and much longer commute distances. More time behind the wheel means higher likelihood of an accident.

• Men pay higher costs – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean females are better at driving than males. Males and females are responsible for accidents in similar percentages, but males cause more damage and cost insurance companies more money. Men also get cited for more serious violations such as DWI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and therefore pay the highest rates.

  The information below compares BMW 328i insurance costs for male and female drivers. The information is based on no violations or accidents, comprehensive and collision coverage, $500 deductibles, drivers are single, and no discounts are taken into consideration.

• High credit scores equal low premiums – A driver’s credit score can be an important factor in determining what you pay. If your credit score can be improved, you could pay less to insure your BMW 328i by improving your rating. People with excellent credit scores tend to file fewer claims than drivers with lower credit scores.
• Lower rates with a multi-policy discount – Some insurers will award a discount to people who buy several policies from them. It’s known as a multi-policy discount. Discounts can be ten or even fifteen percent. Even if you already get this discount, consumers should still compare other company rates to make sure you are getting the best deal. You may still save money by splitting coverages up.

• Tickets can increase premiums – Just one speeding ticket or other violation can increase rates by twenty percent. Good drivers receive lower rates than their less careful counterparts. Drivers unfortunate enough to have flagrant violations such as DUI, reckless driving or excessive speeding are required to complete a SR-22 with the DMV in their state in order to drive a vehicle legally.

  The illustration below shows how traffic citations and accidents can influence BMW 328i annual premium costs for different age groups. The premium estimates are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied to the premium.

Insurance analysis for a BMW 328i

The price information below showcases different policy rates for BMW 328i models. Being more informed about how insurance prices are figured is important for drivers to make smart choices when comparing insurance quotes.

Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rate information does not factor in specific zip code location which can increase or decrease premium rates significantly.

Rate comparison for different deductibles

When comparing insurance rates, the most common question is the level to set your comp and collision deductibles. The comparisons below determine the differences in premium rates when you buy lower versus higher policy deductibles. The first price estimate table uses a $250 deductible for comprehensive and collision coverage and the second price grid uses a $1,000 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Premium amounts do not factor in Dallas location which can modify coverage prices greatly.

Based on this data, using a $250 deductible costs approximately $34 more each month or $408 for a full year across all BMW 328i models than selecting the higher $1,000 deductible. Since you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you go at least 22 months between claim filings, you would save more money if you choose the higher deductible.

One important caveat is that raising deductibles to get cheaper rates results in having to pay to pay more out-of-pocket when you do file a claim. You need to have enough extra money in order to pay the deductible.

The example below demonstrates how choosing different deductibles and can change BMW 328i premium costs for each age group. The information is based on a single male driver, full coverage, and no additional discounts are factored in.

Cost comparison with and without full coverage

The illustration below compares BMW 328i yearly insurance costs with liability coverage only compared to full coverage. The premiums are based on no violations or accidents, $1,000 deductibles, single status, and no discounts are applied.

When to switch to liability coverage only

There is no exact rule for dropping physical damage coverage, but there is a general school of thought. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your BMW 328i replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If premium cost is more than $700 annually for physical damage coverage, then you may want to consider only buying liability coverage.

There are a few cases where eliminating full coverage is not recommended. If you still have a loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

Discounts mean cheaper rates for BMW 328i insurance in Dallas

Properly insuring your vehicles can get expensive, but you may be missing some discounts to reduce the price significantly. A few discounts will be applied at the time of purchase, but occasionally some discounts must be requested specifically in order for you to get them.

• Anti-theft System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are less likely to be stolen so companies will give you a small discount.
• Multi-policy Discount – If you can combine your auto and home policy with the same company you could get a discount of at least 10 to 15 percent or more.
• New Vehicle Savings – Buying a new car instead of a used 328i can be considerably cheaper compared to insuring an older model.
• ABS Braking Discount – Cars and trucks with ABS braking systems or traction control are safer to drive so companies give up to a 10% discount.
• Professional Memberships – Being in a qualifying organization could qualify you for a break on car insurance.
• Distant College Student Discount – College-age children who live away from home at college and do not take a car to college may qualify for this discount.
• Safe Driver Discount – Safe drivers can save as much as half off their rates than their less cautious counterparts.
• Switch and Save Discount – Select insurance companies give a discount for switching policies early. This can save 10% or more.

You can save money using discounts, but most of the big mark downs will not be given to the entire policy premium. Some only reduce individual premiums such as liability and collision coverage. Even though it appears having all the discounts means you get insurance for free, it just doesn’t work that way.

The chart below shows the difference between BMW 328i yearly insurance costs with and without discounts applied. The premium estimates are based on a male driver, no claims or driving citations, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, claim-free, multi-car, marriage, and safe-driver discounts applied.

A list of car insurance companies and some of the premium reductions they offer are detailed below.

• State Farm discounts include Steer Clear safe driver discount, driver’s education, multiple policy, defensive driving training, safe vehicle, student away at school, and anti-theft.
• Progressive has discounts for online signing, online quote discount, homeowner, good student, continuous coverage, multi-policy, and multi-vehicle.
• Progressive has savings for online quote discount, multi-vehicle, online signing, good student, multi-policy, continuous coverage, and homeowner.
• MetLife policyholders can earn discounts including claim-free, good driver, defensive driver, accident-free, good student, and multi-policy.
• Farm Bureau may offer discounts for renewal discount, good student, multi-vehicle, 55 and retired, youthful driver, and driver training.
• GEICO offers discounts for defensive driver, daytime running lights, good student, anti-lock brakes, driver training, and membership and employees.
• SAFECO includes discounts for accident prevention training, safe driver, multi-car, bundle discounts, and drive less.

If you want the cheapest BMW 328i rate quotes, ask each company which discounts can lower your rates. Some of the discounts discussed earlier may not apply to policyholders in Dallas. To see a list of insurance companies with the best BMW 328i insurance discounts in Texas, click here.

One last thing about your coverage

While you’re price shopping online, it’s very important that you do not reduce needed coverages to save money. There have been many situations where drivers have reduced uninsured motorist or liability limits only to regret that it was a big error on their part. The goal is to buy the best coverage you can find for the lowest price, but do not sacrifice coverage to save money.

Cheap BMW 328i insurance in Dallas is available online as well as from independent agents in Dallas, and you should compare rates from both in order to have the best price selection to choose from. There are still a few companies who may not provide the ability to get quotes online and these regional carriers prefer to sell through independent agents.

For more information, link through to the resources below:

• Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
• Who Has Cheap Dallas Auto Insurance Quotes for a Dodge Journey? (FAQ)
• Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
• Cellphones, Texting and Driving (iihs.org)
• Senior Drivers (Insurance Information Institute)