Cheapest Insurance for a BMW 328i in Virginia Beach

It takes a few minutes, but the best way to get cheaper car insurance rates is to compare quotes annually from insurance carriers that insure vehicles in Virginia Beach. Rates can be compared by completing these steps.

1. Try to comprehend what coverages are included in your policy and the things you can control to prevent expensive coverage. Many risk factors that result in higher rates such as getting speeding tickets and poor credit history can be remedied by making minor changes to your lifestyle. Read the full article for more information to prevent expensive rate increases and find missing discounts.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like Progressive or Allstate, while agents who are independent can quote rates for a wide range of insurance providers.
3. Compare the quotes to your existing rates and determine if there is any savings. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.

A good tip to remember is to use the same physical damage deductibles and liability limits on every price quote and and to look at as many companies as possible. Doing this ensures a fair rate comparison and a good representation of prices.

It’s well known that auto insurance companies don’t want their customers to go rate shopping. Insureds who shop for lower rates will, in all likelihood, switch companies because there is a high probability of finding lower rate quotes. A study showed that consumers who compared rates regularly saved approximately $3,500 over four years as compared to drivers who never compared rates.

If finding the lowest rates on BMW 328i insurance is your ultimate goal, then having a grasp of the best way to shop and compare insurance can save money and time.

If you are insured now or want to find a cheaper company, use these cost-cutting techniques to shop for the lowest rates without reducing protection. Buying the cheapest car insurance in Virginia Beach can be easy if you know a few tricks. You just need to know the most effective way to get comparison quotes online from multiple companies.

Getting cheap insurance pricing isn’t really that difficult. You just need to invest a few minutes comparing rate quotes to discover which company has affordable Virginia Beach auto insurance quotes.

Getting free rate quotes online is quite simple, and it takes the place of having to call or drive to insurance agencies in your area. Quoting and buying BMW 328i insurance online eliminates this option unless your situation requires the professional advice that only a licensed agent can provide. Although you can price shop your coverage online but buy the policy through an agent.

The following companies provide free rate quotes in Virginia Beach, VA. To buy the best auto insurance in Virginia Beach, we suggest you visit two to three different companies to get the best price comparison.

Why you need 328i insurance in Virginia

Despite the high cost of buying insurance for a BMW 328i in Virginia Beach, maintaining insurance is most likely required but also gives you several important benefits.

• Just about all states have minimum liability requirements which means it is punishable by state law to not carry specific limits of liability insurance coverage in order to get the vehicle licensed. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
• If you bought your vehicle with a loan, more than likely the lender will stipulate that you buy insurance to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your BMW at a much higher premium rate and force you to reimburse them for it.
• Auto insurance protects both your car and your personal assets. It will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of having insurance more than offset the price you pay, especially when you need to use it. According to a recent study, the average American driver is overpaying over $810 a year so it’s recommended you shop around each time the policy renews to ensure rates are inline.

Rates and other information

The price information below outlines estimates of insurance premium costs for BMW 328i models. Having a good understanding how insurance rates are calculated helps drivers make smart policy decisions.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Rate information does not factor in vehicle location which can influence coverage rates greatly.

Deductible comparison

When comparing insurance rates, the most common question is how high should the deductibles for physical damage be. The rates shown below can help you visualize the premium difference when you buy lower versus higher policy deductibles. The first set of rates uses a $250 deductible and the second data table uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rates do not factor in your specific Virginia Beach location which can affect insurance rates considerably.

We can derive from the above data that using a $250 deductible will cost in the ballpark of $23 more each month or $276 every year across all BMW 328i models than choosing the higher $1,000 deductible. Since you would have to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you average at least 33 months between claim filings, you would probably save some money by selecting a higher deductible. The illustration below shows an example of how you can make this decision for your own policy.

Does it make sense to buy full coverage?

The illustration below illustrates the comparison of BMW 328i annual premium costs when comparing full coverage to state minimum liability only. The premiums are based on no violations or claims, $100 deductibles, single status, and no discounts are taken into consideration.

When to stop buying comprehensive and collision coverage

There is no set rule that is best for determining when to drop physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your BMW 328i settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after you pay the deductible. If you are currently paying more than $200 a year for full coverage, then you might want to consider buying only liability coverage.

There are some conditions where eliminating full coverage is not a good idea. If you still have a loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.

Car insurance policy discounts you can’t miss

Companies that sell car insurance do not list every discount available in an easy-to-find place, so we took the time to find both well-publicized and the harder-to-find discounts you could be receiving when you buy Virginia Beach auto insurance online. If you are not receiving all the discounts possible, you may be paying too high a price.

• Switch and Save Discount – Some insurance companies provide a discount for signing up prior to your current 328i insurance policy expiring. Ten percent is about the average savings.
• Organization Discounts – Being in a qualifying organization could qualify you for a break when shopping for car insurance.
• More Vehicles More Savings – Purchasing coverage when you have multiple vehicles on one policy qualifies for this discount.
• Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them enroll and complete driver’s education in school.
• Good Student Discount – Performing well in school could provide a savings of up to 20% or more. The good student discount can last well after school through age 25.
• Discount for Home Ownership – Just owning your own home can save you money since home ownership requires a higher level of personal finance.
• Pay Early and Save – If you can afford to pay the entire bill rather than spreading payments over time you may reduce your total bill.
• ABS Braking Discount – Cars that have anti-lock braking systems can stop better under adverse conditions and therefore earn up to a 10% discount.
• Anti-theft Discount – Cars, trucks, and SUVs equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10% off your Virginia Beach auto insurance quote.
• College Student Discount – Kids who are enrolled in a college that is more than 100 miles from Virginia Beach and do not have access to a covered vehicle can be insured at a reduced rate.

As a disclaimer on discounts, some credits don’t apply to all coverage premiums. Some only apply to individual premiums such as liability and collision coverage. So even though it sounds like adding up those discounts means a free policy, it’s just not the way it works.

The chart below visualizes the comparison of BMW 328i insurance prices with and without discounts applied to the policy premium. The data is based on a female driver, no accidents or driving violations, Virginia state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, homeowner, multi-car, claim-free, and multi-policy discounts applied.

Large car insurance companies and their offered discounts are outlined below.

• State Farm offers discounts for good driver, safe vehicle, good student, defensive driving training, accident-free, driver’s education, and anti-theft.
• American Family includes discounts for mySafetyValet, TimeAway discount, multi-vehicle, defensive driver, good student, good driver, and Steer into Savings.
• AAA may include discounts for pay-in-full, good driver, good student, education and occupation, and AAA membership discount.
• GEICO offers discounts including anti-theft, daytime running lights, multi-vehicle, military active duty, defensive driver, and good student.
• Mercury Insurance has discounts for ease of repair, annual mileage, accident-free, multi-car, and type of vehicle.
• Farmers Insurance may offer discounts for distant student, pay in full, bundle discounts, youthful driver, and mature driver.
• Progressive discounts include online quote discount, multi-vehicle, online signing, good student, continuous coverage, multi-policy, and homeowner.

Before buying, ask each company what discounts are available to you. Some discounts listed above might not be offered on policies in your state. To find providers who offer car insurance discounts in Virginia Beach, click here to view.

Best car insurance company in Virginia Beach

Ending up with a high-quality auto insurance company can be difficult considering how many choices there are in Virginia. The information in the lists below could help you pick which companies to look at shopping your coverage with.