BMW 328i Insurance Quotes in Lubbock

Want to learn a better way to compare more competitive BMW 328i insurance in Lubbock? Trying to find low-cost insurance for a new or used BMW 328i in Texas can be difficult, but you can learn the following methods to save time. There are more efficient ways to buy auto insurance and you need to know the best way to compare rates on a BMW and locate the best price possible from both online companies and Lubbock agents.

Finding cheaper Lubbock insurance rates can be surprisingly simple. Drivers just need to take a couple of minutes to get quotes to find out which insurance company has affordable Lubbock auto insurance quotes.

The companies in the list below are ready to provide price comparisons in Lubbock, TX. If your goal is to find cheap car insurance in Lubbock, we suggest you compare several of them to find the cheapest auto insurance rates.

Auto insurance statistics for a BMW 328i

The rate table displayed below showcases detailed analysis of insurance costs for BMW 328i models. Being more informed about how auto insurance premiums are figured can assist in making smart choices when comparing insurance quotes.

Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rates do not factor in vehicle garaging location which can alter rates substantially.

Can higher deductibles save money?

One frequently asked question is how high should the physical damage coverage deductibles be. The following insurance rates can help you understand how much more you’ll pay when you select higher and lower policy deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second price grid uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Prices do not factor in garaging location in Lubbock which can change coverage rates substantially.

Based on these figures, using a $100 deductible would cost the average driver about $32 more each month or $384 each year averaged for all 328i models than buying the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 13 months between claim filings, you would probably save some money if you decide on a higher deductible.

The example below demonstrates how choosing different deductibles and can increase or decrease BMW 328i insurance rates for different categories of driver ages. The information is based on a married female driver, comp and collision included, and no discounts are applied.

BMW 328i liability-only versus full coverage

The chart below visualizes the comparison of BMW 328i auto insurance rates with and without full coverage. The data assumes no tickets, no at-fault accidents, $500 deductibles, drivers are single, and no policy discounts are applied.

Guidelines for eliminating full coverage

There is no clear-cut rule to stop paying for full coverage on your policy, but there is a general guideline you can use. If the annual cost of your full coverage insurance is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

For example, let’s pretend your BMW 328i replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $8,000 after the policy deductible has been paid. If you are paying over $800 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where buying only liability insurance is not in your best interest. If you haven’t paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.

Car insurance protects more than just your car

Despite the potentially high cost of BMW 328i insurance, buying car insurance serves an important purpose.

• Almost all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability insurance coverage in order to get the vehicle licensed. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a lien on your vehicle, more than likely the lender will force you to buy full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your BMW for a lot more money and force you to pay a much higher amount than you were paying before.
• Car insurance preserves not only your vehicle but also your financial assets. It will also reimburse you for all forms of medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of your driving. If you have damage to your BMW as the result of the weather or an accident, comprehensive and/or collision insurance will pay to repair the damage.

The benefits of buying enough insurance definitely exceed the price paid, especially if you ever need it. Despite what companies tell you, the average driver is currently overpaying as much as $865 each year so compare rate quotes at every renewal to make sure the price is not too high.

Smart Choices Result in Lower Insurance Rates

Lots of things are taken into consideration when quoting car insurance. Some of the criteria are obvious such as your driving record, but other factors are more obscure like where you live or your vehicle rating. When buying insurance it’s important to understand some of the elements that help determine the price you pay for insurance. When you understand what determines premiums, this allows you to make good choices that may result in better insurance rates.

Shown below are some of the things used by companies to determine your rate level.

Drive less and pay lower prices – The more miles you rack up on your BMW in a year’s time the more you’ll pay to insure it. A lot of companies price each vehicle’s coverage based on their usage. Autos used primarily for pleasure use can be on a lower rate level than those used for commuting. Having the wrong rating on your 328i can result in significantly higher rates. Verify your insurance coverage states the proper vehicle usage.

Liability protection limits on your policy – Liability insurance kicks in when you are ruled to be at fault for causing personal injury or damage in an accident. It will provide for a legal defense up to the limits shown on your policy. Liability insurance is quite affordable compared to other policy coverages, so buy as much as you can afford.

Pay less if you’re married – Getting married can actually save you money on your insurance bill. Having a significant other translates into being more mature than a single person and statistics prove married drivers tend to file fewer claims.

Do you have a tough vocation? – Do you have a high-stress occupation? Occupations such as military generals, airline pilots, and emergency personnel tend to have higher premium rates attributed to intense work situations and extremely grueling work hours. On the other hand, careers like actors, students and retirees pay lower than average rates.

Alarm systems save money – Purchasing a vehicle with advanced anti-theft systems can help lower your rates. Advanced theft deterrents such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent vehicle theft.

Avoid unnecessary extra policy coverages – Insurance companies have many additional extra coverages that can waste your money when buying insurance. Coverage for things like vanishing deductibles, death and dismemberment, and additional equipment coverage may not be needed and are just wasting money. The coverages may be enticing when deciding what coverages you need, but if you have no use for them remove them from your policy.

Consider raising deductibles – Physical damage deductibles define how much you are willing to pay if the claim is covered. Protection for physical damage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. Some examples of claims that would be covered would be collision with another vehicle, animal collisions, and having a roll-over accident. The larger the amount the insured has to pay upfront, the lower your rates will be.

Safer the car lower the rate – Safer cars tend to have lower insurance rates. Safer cars reduce occupant injuries and fewer serious injuries means less claims paid which can result in lower premiums. If your BMW is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may pay a lower rate.

Insurance savings summarized

Cost effective BMW 328i insurance can be sourced online as well as from insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who may not provide the ability to get quotes online and these small insurance companies work with independent agencies.

As you go through the steps to switch your coverage, it’s not a good idea to reduce coverage to reduce premium. There have been many cases where drivers have reduced full coverage only to find out that the small savings ended up costing them much more. Your objective should be to get the best coverage possible at the best possible price, but do not sacrifice coverage to save money.

You just read a lot of ways to find cheap BMW 328i insurance in Lubbock. The key concept to understand is the more rate quotes you have, the higher the chance of saving money. Consumers may even find the lowest priced insurance comes from an unexpected company.

Steps to buying lower priced BMW 328i insurance in Lubbock

If you want to save the most money, the best way to get more affordable BMW 328i insurance is to compare quotes annually from insurers in Lubbock.

1. Take a little time to learn about car insurance and the modifications you can make to prevent expensive coverage. Many things that are responsible for high rates like tickets, at-fault accidents, and a negative credit history can be amended by making minor driving habit or lifestyle changes.
2. Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Allstate, while independent agents can quote rates from many different companies.
3. Compare the new rate quotes to your existing rates and determine if there is any savings. If you can save money, ensure there is no coverage lapse between policies.
4. Tell your current agent or company of your decision to cancel the current policy. Submit a completed application and payment to your new company or agent. Immediately place your new certificate verifying coverage along with the vehicle’s registration papers.

The most important part of shopping around is that you’ll want to make sure you compare identical coverages on each quote and and to get quotes from as many auto insurance providers as possible. This guarantees a fair price comparison and a complete price analysis.

Much more information about insurance in Texas can be found below:

• Understanding Your Insurance Deductible (Insurance Information Institute)
• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
• What is a Telematics Device? (Allstate)
• Think You’re a Safe Driver? (State Farm)
• Liability Insurance Coverage (Nationwide)