How to Compare Madison BMW 328i Insurance

Really, the only way to find low-cost prices for BMW 328i insurance in Madison is to compare prices once a year from companies that sell auto insurance in Wisconsin.

1. Take a little time to learn about how auto insurance works and the measures you can take to keep rates low. Many rating criteria that are responsible for high rates like high-risk driving behaviors and poor credit history can be improved by improving your driving habits or financial responsibility.
2. Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive and State Farm, while independent agents can provide prices for a wide range of companies.
3. Compare the quotes to the premium of your current policy to see if you can save by switching companies. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.
4. Give proper notification to your current agent or company of your decision to cancel your current car insurance policy. Submit the required down payment along with the signed application for the new policy. Make sure you keep the new certificate verifying coverage with the vehicle registration.

The critical component of shopping around is to use the same deductibles and limits on every price quote and and to get rate quotes from as many companies as possible. Doing this helps ensure a fair price comparison and maximum price selection.

It’s shocking but the vast majority of car insurance customers renewed their policy with the same company for at least four years, and 38% of customers have never compared rates to find cheap insurance. With the average premium in Wisconsin being $1,300, drivers could save an average of 30% each year by just comparing quotes, but they just don’t want to compare other rate quotes.

Car insurance providers offering low-cost rates in Wisconsin

The companies in the list below offer free quotes in Madison, WI. To buy cheap auto insurance in Madison, it’s a good idea that you visit several of them in order to find the most affordable rates.

Analysis of BMW 328i rates

The rate information shown below outlines estimates of insurance rates for BMW 328i models. Learning as much as possible about how car insurance prices are calculated can assist in making smart choices when buying a car insurance policy.

Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Premium amounts do not factor in specific location information which can raise or lower coverage rates significantly.

Deductible comparison

When shopping for car insurance, a common question is how low should you set your deductibles. The comparisons below may help to illustrate the rate differences between low and high comp and collision deductibles. The first data set uses a $250 physical damage coverage deductible and the second data table uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate quotes do not factor in Madison location which can impact premium rates greatly.

Using the premium rates above, we can conclude that using a $250 deductible will cost in the ballpark of $12 more each month or $144 each year across all BMW 328i models than opting for the higher $500 deductible. Because you would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 21 months between claim filings, you would save more money if you decide on a higher deductible.

Insurance rates and discounts

Insurance is not an enjoyable expense, but there are discounts available that can dramatically reduce your bill. Certain credits will be shown when you get a quote, but some need to be requested specifically before you get the savings. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

• Safety Restraint Discount – Drivers who require all vehicle occupants to wear their seat belts can save up to 15% off PIP or medical payments premium.
• Home Ownership Discount – Just being a homeowner may trigger a policy discount on insurance because maintaining a house requires a higher level of personal finance.
• Senior Citizens – Mature drivers may qualify for a small decrease in premiums.
• Safe Drivers – Insureds without accidents can pay as much as 50% less than less cautious drivers.
• Multiple Cars – Insuring multiple cars on the same insurance policy can get a discount for every vehicle.
• Payment Method – By paying your policy upfront rather than paying in monthly installments you can actually save on your bill.

You can save money using discounts, but most of the big mark downs will not be given to your bottom line cost. Most only apply to the cost of specific coverages such as medical payments or collision. So when it seems like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

The example below shows the comparison of BMW 328i premium costs with and without discounts applied to the policy premium. The prices are based on a male driver, no tickets, no at-fault accidents, Wisconsin state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, marriage, homeowner, claim-free, and multi-car discounts applied.

To find companies with the best discounts in Wisconsin, click here to view.

When to have guidance from an insurance agent

Many people would prefer to have an agent’s advice and doing that can be a smart decision One of the benefits of comparing car insurance online is that you can find lower rates and still choose a local agent.

After filling out this form (opens in new window), the coverage information is submitted to participating agents in Madison that provide free Madison auto insurance quotes and help you find cheaper coverage. You never need to contact any insurance agencies due to the fact that quote results will go to you directly. It’s the lowest rates and work with a local agent. If you need to get a price quote from one company in particular, don’t hesitate to search and find their rate quote page and complete a quote there.

Selecting an company should include more criteria than just the price. Here are some questions to ask:

• What company do they have the most business with?
• Do you work with a CSR or direct with the agent?
• Will your rates increase after a single accident?
• Do you need full coverage on every vehicle?
• Who is covered by the car insurance policy?
• Are they full-time agents?
• Is there a Errors and Omissions policy in force?

Shown below is a list of insurers in Madison who can help you get price quotes for BMW 328i insurance in Madison.

More insurance agents

If you feel you receive acceptable answers to any questions you have in addition to an acceptable price estimate, it’s possible that you found a company that meets the criteria to insure your vehicles. Just understand that you are able to terminate coverage for any reason so never assume you’re contractually obligated to a specific company for any length of time.

Coverages available on your car insurance policy

Having a good grasp of car insurance helps when choosing the best coverages at the best deductibles and correct limits. Car insurance terms can be confusing and reading a policy is terribly boring. These are typical coverage types found on most car insurance policies.

Comprehensive coverage

Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like a broken windshield, rock chips in glass and hitting a deer. The highest amount a car insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for expenses such as dental work, rehabilitation expenses, hospital visits and doctor visits. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

This will pay to fix damage to your 328i resulting from a collision with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things such as damaging your car on a curb, rolling your car, scraping a guard rail, backing into a parked car and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible on your 328i to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your BMW 328i.

Since a lot of drivers have only the minimum liability required by law (25/50/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.

Liability coverages

This coverage will cover damage or injury you incur to other people or property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/10 that translate to $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged property.

Liability can pay for claims such as medical services, loss of income and pain and suffering. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible. Wisconsin requires drivers to carry at least 25/50/10 but it’s recommended drivers buy more liability than the minimum.

The next chart demonstrates why minimum state limits may not be high enough to cover claims.

Quote often and quote early

Cheaper BMW 328i insurance in Madison can be bought from both online companies and from local agencies, so get free Madison auto insurance quotes from both of them in order to have the best price selection to choose from. A few companies do not offer online rate quotes and these small, regional companies work with local independent agencies.

When shopping online for auto insurance, do not buy poor coverage just to save money. There have been many situations where an insured cut physical damage coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your strategy should be to find the BEST coverage at the lowest possible cost while not skimping on critical coverages.

Additional information can be found at these links:

• Teen Driving Statistics (GEICO)
• Who Has Cheap Auto Insurance Quotes for Inexperienced Drivers in Madison? (FAQ)
• How Much are Car Insurance Quotes for Low Credit Scores in Madison? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for Active Military in Madison? (FAQ)
• Who Has the Cheapest Auto Insurance Quotes for a Ford Focus in Madison? (FAQ)
• What Does No-Fault Insurance Cover? (Allstate)
• Your Car has been Stolen: Now What? (Allstate)