Best Quotes for BMW X3 Insurance in Lexington

  1. Home
  2. >
  3. Lexington Auto Insurance
  4. >
  5. BMW X3

Insurance rates BMW X3 in LexingtonIf your goal is the lowest price, then the best way to find the cheapest price for car insurance rates in Lexington is to compare prices once a year from companies who can sell car insurance in Kentucky.

First, read and learn about how your policy works and the changes you can make to prevent expensive coverage. Many risk factors that increase rates such as getting speeding tickets and an unfavorable credit rating can be controlled by improving your driving habits or financial responsibility.

Second, quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like GEICO or State Farm, while independent agencies can provide rate quotes from many different companies.

Third, compare the quotes to your existing coverage to see if a cheaper price is available. If you find a lower rate and make a switch, make sure there is no coverage gap between policies.

Fourth, tell your current company to cancel your existing policy. Submit payment and a completed application for the new coverage. As soon as coverage is bound, put the new certificate verifying coverage in an accessible location in your vehicle.

The key thing to remember is to make sure you enter the same coverage limits and deductibles on each quote and and to get rates from as many companies as feasibly possible. This enables an apples-to-apples comparison and a good representation of prices.

Amazingly, most Kentucky auto insurance customers kept their coverage with the same auto insurance company for over three years, and nearly 40% of drivers have never even compared rates from other companies. With the average premium in the United States being $1,847, drivers could cut their rates by up to $859 a year just by getting comparison quotes, but they don't believe the actual amount they would save if they changed companies.

This information will tell you how to compare rates easily and also pocket some savings If you have insurance now, you stand a good chance to be able to get lower rates using the tips covered below. Vehicle owners just have to learn the quickest way to compare rate quotes from many different companies.

Best BMW X3 insurance prices in Kentucky

The companies shown below are ready to provide comparison quotes in Lexington, KY. To buy cheap car insurance in Lexington, KY, it's a good idea that you visit as many as you can to get the most competitive price.

BMW X3 detailed coverage information

The information displayed next highlights a range of prices for BMW X3 models. Knowing how auto insurance premiums are calculated can benefit drivers when making smart choices when comparing insurance rates.

BMW X3 Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $304 $710 $368 $22 $110 $1,514 $126
Get Your Own Custom Quote Go

Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Prices do not factor in specific garaging location which can modify coverage prices noticeably.

Choosing deductibles

When shopping for insurance, a common question is where should you set your physical damage deductibles. The comparison tables below can help you understand the costs and benefits between high and low policy deductibles. The first set of rates uses a $100 deductible for physical damage and the second price chart uses a $500 deductible.

BMW X3 insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $354 $688 $326 $20 $98 $1,511 $126
Get Your Own Custom Quote Go
BMW X3 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $258 $466 $326 $20 $98 $1,168 $97
Get Your Own Custom Quote Go

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium costs do not factor in vehicle garaging location which can decrease or increase coverage rates substantially.

Based on this data, using a $100 deductible costs roughly $29 more each month or $348 annually across all BMW X3 models than quoting the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at least 14 months between claim filings, you would most likely save money by going with a higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $100 deductibles: $126
Average monthly premium for $500 deductibles (subtract): - $97
Monthly savings from raising deductible: $29
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One important issue to know is that raising deductibles to save money means you will have to cover more of the damage yourself when you have to file a claim. You should have some savings in order to pay the deductible to have repairs made.

The chart below demonstrates how deductible levels and can affect BMW X3 insurance rates for different categories of driver ages. The rates are based on a single male driver, comprehensive and collision coverage, and no discounts are applied.

Car insurance discounts are available to lower rates

Companies offering auto insurance don't always advertise every discount available in an easy-to-find place, so below is a list both the well known in addition to some of the lesser obvious credits available to bring down your rates.

  • Multi-line Discount - Select companies reward you with a discount if you purchase life insurance from them.
  • Multiple Policy Discount - If you combine your auto and homeowners policies with one company they may give you a discount of over 10 percent off each policy depending on the company.
  • 55 and Retired - Seniors may receive lower premium rates.
  • No Claims - Claim-free drivers can earn big discounts when compared to bad drivers.
  • Driver Safety - Taking part in a defensive driver course could cut 5% off your bill if you qualify.
  • Distant Student Discount - College-age children who live away from home at college and leave their car at home may qualify for this discount.
  • Discount for Low Mileage - Driving less can earn better prices on cars that stay parked.
  • Discounts for Good Drivers - Insureds who avoid accidents can get discounts for up to 45% lower rates compared to rates paid by drivers with frequent claims.

As is typical with insurance, most credits do not apply to your bottom line cost. Most cut the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears it's possible to get free car insurance, car insurance companies aren't that generous.

The information below illustrates the difference between BMW X3 auto insurance rates with and without discounts applied to the policy rates. The premium estimates are based on a male driver, no accidents, no driving violations, Kentucky state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, safe-driver, homeowner, and multi-policy discounts applied.

A list of companies and some of the discounts can be found below.

  • State Farm offers discounts for passive restraint, Steer Clear safe driver discount, anti-theft, good driver, multiple autos, and student away at school.
  • GEICO offers premium reductions for emergency military deployment, air bags, defensive driver, seat belt use, military active duty, and driver training.
  • SAFECO has savings for anti-lock brakes, accident prevention training, safe driver, teen safety rewards, and multi-car.
  • Farmers Insurance may offer discounts for pay in full, electronic funds transfer, switch companies, early shopping, homeowner, mature driver, and teen driver.
  • AAA policyholders can earn discounts including good driver, multi-policy, pay-in-full, good student, multi-car, and AAA membership discount.
  • USAA has discounts for annual mileage, driver training, good student, military installation, defensive driver, and multi-vehicle.

If you need lower rates, check with all the companies the best way to save money. Some credits might not be available to policyholders in every state.

When should I talk to an agent?

A lot of people still like to have an agent's advice and that can be a great decision Agents can help you choose the best coverages and help in the event of a claim. A nice benefit of price shopping on the web is that you can obtain cheap car insurance rates and still have an agent to talk to. Buying from local agents is important particularly in Lexington.

Lexington insurance agentsTo make it easy to find an agent, after completing this simple form, the coverage information gets sent to participating agents in Lexington who will return price quotes for your coverage. You don't have to leave your house as quotes are delivered to you directly. If you wish to get a rate quote from a specific car insurance provider, just find their quoting web page and fill out their quote form.

How to choose the best auto insurance agent in Lexington

If you would like to find a good insurance agency, it can be helpful to understand the different types of agencies and how they are distinctly different. Agents are classified as either independent or exclusive. Both can sell and service car insurance coverage, but it is a good idea to know how they differ because it can influence the type of agent you choose.

Independent Car Insurance Agents

These type of agents do not write with just one company so they can write business through many companies depending on which coverage is best. If your premiums go up, the business is moved internally which requires no work on your part.

When comparing car insurance prices, it's recommended you include rate quotes from a few independent agents to have the most options to choose from. Most independent agents also contract with different regional companies that may provide cheaper car insurance rates.

Shown below are Lexington independent insurance agencies who may be able to give you cheap rate quotes.

View more agents

Exclusive Insurance Agents

Agents that choose to be exclusive can only quote rates from one company like American Family, State Farm, and Allstate. Exclusive agents are unable to give you multiple price quotes so they have no alternatives for high prices. These agents receive extensive training on the products they sell which helps them compete with independent agents. A lot of people purchase coverage from exclusives mostly because of high brand loyalty and strong financial ratings.

Listed below is a short list of exclusive insurance agencies in Lexington that can give you rate quotes.

View more agents

Choosing a insurance agency requires more thought than just the price. Here are some questions you should ask.

  • Is the coverage adequate for your vehicle?
  • Are claim adjusters local or do you have to take your car somewhere else?
  • How long has their agency been in business in Lexington?
  • Does the agency have a good rating with the Better Business Bureau?
  • Is the agent CPCU or CIC certified?
  • Will they take your side in the event of a claim?
  • Do they have cheaper tiers of coverage?

After getting satisfactory answers to these questions as well as an affordable premium quote, most likely you have located an insurance agency that is a good match to properly insure your vehicles.

Detailed coverages of your car insurance policy

Understanding the coverages of car insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Liability insurance

Liability coverage provides protection from damages or injuries you inflict on other's property or people by causing an accident. It protects YOU from legal claims by others, and doesn't cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 25/50/10 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $10,000. Occasionally you may see one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers claims such as loss of income, repair costs for stationary objects, funeral expenses, medical services and emergency aid. How much coverage you buy is a decision to put some thought into, but buy higher limits if possible. Kentucky state law requires minimum liability limits of 25/50/10 but you should consider buying more liability than the minimum.

The chart below demonstrates why buying low liability limits may not be enough.

Coverage for collisions

Collision coverage pays for damage to your X3 resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims like colliding with another moving vehicle, colliding with a tree and hitting a mailbox. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to increase the deductible on your X3 in order to get cheaper collision rates.

Comprehensive coverage (or Other than Collision)

This covers damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a deer, theft, fire damage and a tree branch falling on your vehicle. The most you'll receive from a claim is the actual cash value, so if it's not worth much more than your deductible consider dropping full coverage.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance kick in for bills such as funeral costs, rehabilitation expenses and X-ray expenses. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Uninsured Motorist or Underinsured Motorist insurance

This provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as damage to your BMW X3.

Since a lot of drivers have only the minimum liability required by law (25/50/10), it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Cheaper coverage is out there

Consumers leave their current company for many reasons like high prices, high rates after DUI convictions, poor customer service or even extreme rates for teen drivers. It doesn't matter what your reason, finding the right car insurance provider is not as difficult as it may seem.

Cheaper BMW X3 insurance in Lexington is possible online as well as from independent agents in Lexington, and you should be comparing both in order to have the best price selection to choose from. Some insurance companies may not provide internet price quotes and most of the time these smaller companies only sell through independent insurance agencies.

In this article, we covered a lot of ways to get a better price on BMW X3 insurance in Lexington. The most important thing to understand is the more quotes you get, the higher your chance of finding low cost Lexington car insurance quotes. You may even be surprised to find that the best prices are with an unexpected company.

Additional car insurance information is located on the following sites: