How to Obtain Cheap BMW Car Insurance

What Factors Affect A Driver’s Ability to Obtain Cheap BMW Car Insurance?

The main reason BMWs are expensive to insure is because of their high price. The average new BMW has a MSRP from $32,851 to $57,027. Because BMWs are so expensive, the cost to replace these cars and their parts is also expensive. Particularly for U.S. drivers, repairing a BMW after an accident can be quite costly because the parts are not as widely available in the United States. This is changing in recent years, as the prevalence of BMWs in the United States has increased. Insurance companies are generally forced to pay much more to repair a BMW, compared to fixing comparable damage on a less expensive or more common vehicle.

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Another reason why it can be difficult to find cheap BMW insurance is because certain BMW models are a frequent target for auto theft. In fact, according to the Civilian Conservative Corps, the 2002 BMW Roadster was the second most frequently stolen car in 2004. The high theft rate makes insuring these vehicles risky for insurance agencies, which increases the cost to drivers.

Another reason why BMWs are expensive to insure is because of the power behind their engines. Their powerful engines make it possible for drivers to reach very high speeds, which increases the risk of an accident. The high cost of replacement parts, combined with the ability to reach excessively high speeds, means that drivers have more difficulty finding affordable BMW insurance, than when insuring a non-luxury vehicle.

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How to Obtain Affordable BMW Car Insurance

Drivers can expect to pay more when insuring a very expensive BMW, like the M6 convertible, than when insuring a more moderately priced model, like the X3 xDrive30i. Additionally, how old the vehicle is, as well as its mileage and overall worth will play a part in the price of insurance. If a driver is set on obtaining cheap BMW insurance, than he or she should consider purchasing a used BMW, rather than a pricey, brand new model.

A customer’s driving history also has a huge effect on their eligibility for affordable BMW insurance. If a driver has a history of speeding, insurance companies will view them at an increased risk of getting in an accident, which will be expensive to the company due to the high cost of parts. Also, if a driver has made a lot of insurance claims in the past, an insurance company will assume that they will continue to make frequent claims when insuring their BMW. Therefore, it is important for BMW owners to maintain a responsible driving record if they want to be eligible for affordable insurance.

How far a driver commutes on a daily basis will also have an effect on their ability to receive cheap BMW insurance. When applying for car insurance, it is important to carefully consider how frequently the car will be driven. Certain safety features that are often included in BMWs, like air bags, anti-theft alarms, and anti-lock brakes will also be taken into consideration by insurance companies. Customers that do not frequently drive their BMW long distances, have important safety features, and keep their car in a garage overnight will be eligible to receive the best prices on BMW car insurance.

BMW owners that also own a home, insure other vehicles, and have life insurance, may want to check if they can possibly combine their insurance policies. Many companies offer multi policy discounts that can help lower the cost of car insurance, simply by combining policies. Additionally, even though it may seem beneficial to only obtain the state required minimum insurance, drivers should consider how costly this could be if their vehicle were to become damaged. While drivers may want to obtain cheap BMW insurance, it is more important to obtain great overall coverage, than to only seek out the most inexpensive policies.