When looking to insure your BMW car or SUV, take the time to shop around with different insurance companies. Create a checklist so that you can write their answers and prices in and compare them side-by-side before making a decision. You will generally find that the same exact coverage will vary greatly in price from provider to provider, and after only a couple of phone calls, you’ll be glad that you didn’t just insure your BMW with the first company you contacted.
The Pennsylvania Insurance Department found that of 92 insurance agents contacted in Philadelphia, less than 30% volunteered information on discounts their potential customers could have used to save up to 40% on premiums. This means that it is worthwhile to ask about discounts when you are comparing insurance providers. Keep track of this on your checklist.
Safe drivers really do get the best rates, so Otto’s BMW dealer encourages you to consider this as just one more reason to follow traffic rules, to keep your car in good working order, and to never drive impaired. A clean driving record will do wonders in lowering your premiums. Of course, that doesn’t mean that you can’t get a good deal for your certificate new or used BMW if your record isn’t spotless; it just means that you really need to focus on shopping around.
If you want to lower your premiums even more, consider raising the deductible. The safest way to do this is to have the deductible amount set aside in a special account in case you do need service. If you are unable to do this, consider raising the deductible to the highest level you could maintain without seriously causing a financial problem in case of an accident.
Finally, if you have vehicles other than the one purchased from Otto’s BMW dealer, look at the cost to insure them all with the same provider. Generally speaking, this will add up to a fairly substantial savings.