How to Save on Lexington BMW 328i Insurance

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Insurance quote for BMW 328i in LexingtonWant lower-priced BMW 328i insurance in Lexington? Searching for better insurance prices for your BMW 328i in Kentucky can be an all-consuming task, but you can use our insurance buying tips to find lower rates. There is a better way to find insurance online so we're going to tell you the proper way to get price quotes for your BMW and find the lowest price from Lexington insurance agents and online providers.

You should make it a habit to get comparison quotes as often as possible because insurance prices are constantly changing. If you had the lowest price on BMW 328i insurance in Lexington a couple years back there is a good chance you can find better rate quotes now. Forget all the misinformation about insurance because I'm going to let you in on the secrets to one of the quickest ways to save money, get proper deductibles and limits, all at the lowest rate.

If you have coverage now or just want to reduce your rates, you can use these techniques to find the best rates and still get good coverage. Comparing rates for affordable insurance coverage in Lexington is not as time-consuming as you think. Smart shoppers just have to understand the tricks to shop for insurance online from multiple companies.

The best way we recommend to compare insurance rates from multiple companies is to realize almost all companies actually pay money for the chance to provide you with a free rate quote. All you need to do is provide information such as marital status, how many miles driven, whether your vehicle is owned or leased, and if a SR-22 is needed. That rating information is instantly provided to many highly-rated insurers and they return cost estimate within a short period of time.

To compare rates for your BMW 328i now, click here and enter the information requested.

The providers in the list below are our best choices to provide free quotes in Kentucky. To locate cheap car insurance in Kentucky, we recommend you compare several of them in order to find the lowest rates.

Verify you're getting every discount

Not too many consumers would say auto insurance is affordable, but companies offer discounts that can drop the cost substantially. Certain credits will be shown when you quote, but lesser-known reductions have to be asked about before being credited.Discount auto insurance

  • Auto/Home Discount - If you have multiple policies and insure them both with the same insurance company you will save at least 10% off all policies.
  • Active Military Service - Being on active duty in the military can result in better prices.
  • One Accident Forgiven - This one is not really a discount per se, but a few companies such as State Farm and GEICO will let one accident slide without getting socked with a rate hike with the catch being you have to be claim-free prior to the accident.
  • Senior Citizen Rates - If you qualify as a senior citizen, you are able to get a slight reduction on a Lexington auto insurance quote.
  • Multiple Vehicles - Insuring primary and secondary vehicles on a single policy can get a discount for every vehicle.
  • Early Payment Discounts - If you can afford to pay the entire bill rather than paying in monthly installments you could save 5% or more.
  • College Student Discount - College-age children who are enrolled in higher education away from home and won't have access to an insured vehicle may qualify for this discount.
  • Data Collection Discounts - Insureds that choose to allow companies to study where and when they drive remotely like Drivewise from Allstate or In-Drive from State Farm may see discounts if they are good drivers.
  • Clubs and Organizations - Participating in a civic or occupational organization in Lexington could qualify you for a break on your next auto insurance statement.

You can save money using discounts, but most credits do not apply to the entire policy premium. Most only reduce the price of certain insurance coverages like collision or personal injury protection. So even though they make it sound like you could get a free auto insurance policy, you're out of luck. Any qualifying discounts will reduce the amount you have to pay.

The chart below visualizes the comparison of BMW 328i annual premium costs with and without discounts applied to the policy rates. The premiums assume a male driver, no claims, a clean driving record, Kentucky state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, claim-free, safe-driver, marriage, and multi-policy discounts applied.

The best auto insurance companies and a summarized list of policyholder discounts are detailed below.

  • State Farm policyholders can earn discounts including defensive driving training, accident-free, Drive Safe & Save, good driver, driver's education, and student away at school.
  • Farmers Insurance may offer discounts for good student, pay in full, switch companies, mature driver, alternative fuel, business and professional, and homeowner.
  • GEICO offers discounts including federal employee, emergency military deployment, five-year accident-free, air bags, membership and employees, and anti-lock brakes.
  • American Family discounts include TimeAway discount, early bird, mySafetyValet, defensive driver, and multi-vehicle.
  • Nationwide offers discounts for anti-theft, family plan, accident-free, good student, Farm Bureau membership, and multi-policy.
  • Progressive may have discounts that include homeowner, good student, online signing, continuous coverage, and multi-policy.

Check with every company how you can save money. A few discounts might not be available to policyholders everywhere.

Premium rates and analysis

The data table displayed below outlines detailed analysis of prices for BMW 328i models. Having a better idea how rate quotes are established is important for you to make smart choices when buying a car insurance policy.

BMW 328i Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
328I 4-Dr Sedan $256 $496 $440 $26 $132 $1,350 $113
328I 4-Dr Sedan $256 $496 $440 $26 $132 $1,350 $113
328I Station Wagon $286 $572 $374 $22 $112 $1,366 $114
328I 2-Dr Coupe $286 $572 $374 $22 $112 $1,366 $114
328I 2-Dr Coupe $286 $572 $374 $22 $112 $1,366 $114
328I xDrive 4-Dr Sedan $286 $572 $440 $26 $132 $1,456 $121
328I xDrive 4-Dr Sedan $286 $572 $440 $26 $132 $1,456 $121
328I 2-Dr Convertible $286 $572 $440 $26 $132 $1,456 $121
328I 2-Dr Convertible $286 $572 $440 $26 $132 $1,456 $121
328I 2-Dr Coupe $286 $572 $374 $22 $112 $1,366 $114
328I xDrive 2-Dr Coupe $286 $572 $374 $22 $112 $1,366 $114
328I xDrive Station Wagon $286 $572 $374 $22 $112 $1,366 $114
Get Your Own Custom Quote Go

Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium amounts do not factor in specific location which can change price quotes considerably.

The information below shows how choosing a deductible and can affect BMW 328i insurance prices for each age group. The rates are based on a single female driver, full physical damage coverage, and no policy discounts are applied.

Irresponsible driving raises your rates

The diagram below shows how speeding tickets and at-fault fender-benders can impact BMW 328i insurance prices for each different age category. The prices are based on a married female driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.

Full coverage rates compared to liability-only

The diagram below illustrates the comparison of BMW 328i auto insurance costs with full coverage compared to only the Kentucky minimum liability coverage. The premiums assume no tickets, no at-fault accidents, $100 deductibles, drivers are not married, and no policy discounts are applied.

Are you wasting money paying for full coverage?

There is no definitive formula that is best for determining when to drop physical damage coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let's pretend your BMW 328i book value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after paying your deductible. If you are paying over $300 a year for your policy with full coverage, then it could be time to drop full coverage.

There are some conditions where eliminating full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage in place.

Auto insurance is available from your local insurance agencies

A lot of people just prefer to talk to a local agent. Most agents can make sure you are properly covered and give you someone to call. One of the best bonuses of comparing auto insurance online is the fact that drivers can get lower car insurance rates and still have an agent to talk to.

Lexington insurance agentsTo help locate an agent, after submitting this quick form, your insurance data is transmitted to local insurance agents that give free quotes for your business. It simplifies rate comparisons since you won't have to drive around because quoted prices will be sent to you. In the event you want to get a comparison quote from a specific insurance company, don't hesitate to find their quoting web page and fill out their quote form.

Choosing the best insurer requires more thought than just the premium amount. Here are some questions you might want to ask.

  • Will the agent or a CSR service your policy?
  • Are there any discounts for paying up front?
  • What will you get paid if your car is a total loss? How is that amount determined?
  • If they are an independent agency in Lexington, which companies do they recommend?
  • Will the company cover a rental car if your car is getting fixed?

Is an exclusive or independent auto insurance agent right for you?

If you're trying to find a reputable insurance agent or broker, you should know the different types of agencies and how they function. Auto insurance agencies can be categorized as either independent agents or exclusive agents. Either type can write auto insurance policies, but it's good to learn the difference between them since it could factor into your selection of an agent.

Exclusive Auto Insurance Agents

Agents that choose to be exclusive can only provide one company's prices such as State Farm, Allstate, and Farm Bureau. They usually cannot compare rates from other companies so it's a take it or leave it situation. They are very knowledgeable on what they offer which helps offset the inability to provide other markets. Some insured continue to buy from exclusive agents partially due to loyalty to the company and strong financial ratings.

Below are exclusive insurance agents in Lexington willing to provide price quote information.

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Independent Agents

Agents of this type do not write with just one company so as a result can place your coverage with any number of different companies and potentially find a lower price. If premiums increase, an independent agent can move your coverage and you don't have to switch agencies. When comparing auto insurance rates, you need to include rate quotes from at least one independent agent to get the most accurate price comparison. A lot of them also have access to mutual insurance companies who may have lower rates.

Below is a short list of independent agents in Lexington that are able to give price quotes.

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Insurance can be complex

When quoting and choosing your policy for your personal vehicles, there really is not a one size fits all plan. Your needs are not the same as everyone else's.Safe vehicles cost less to insure

For example, these questions can help discover whether or not you might need professional guidance.

  • Does every company file a SR-22 automatically?
  • If my BMW 328i is totaled, can I afford another vehicle?
  • What are the best liability limits?
  • What is medical payments coverage?
  • Am I covered if I break a side mirror?
  • Do I pay less for low miles?
  • How much cheaper are high deductibles?

If it's difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you don't have a local agent, simply complete this short form. It's fast, doesn't cost anything and may give you better protection.

Learn about car insurance coverages for a BMW 328i

Learning about specific coverages of your policy helps when choosing the best coverages and proper limits and deductibles. Car insurance terms can be confusing and nobody wants to actually read their policy.

Coverage for medical payments

Coverage for medical payments and/or PIP kick in for bills like chiropractic care, nursing services, ambulance fees, EMT expenses and funeral costs. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive coverages

Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as damage from getting keyed, falling objects, fire damage, a tree branch falling on your vehicle and rock chips in glass. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle's value it's probably time to drop comprehensive insurance.

Liability auto insurance

This can cover injuries or damage you cause to people or other property by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/10 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $10,000 for damage to vehicles and property.

Liability insurance covers claims like structural damage, medical expenses, funeral expenses and emergency aid. How much coverage you buy is your choice, but buy higher limits if possible. Kentucky state minimum liability requirements are 25/50/10 but you should consider buying more liability than the minimum.

The illustration below demonstrates why buying the state minimum limits may not be enough coverage.

Coverage for collisions

Collision coverage pays to fix your vehicle from damage caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims like scraping a guard rail, sideswiping another vehicle, hitting a mailbox, hitting a parking meter and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible on your 328i to bring the cost down.

Uninsured and underinsured coverage

Your UM/UIM coverage protects you and your vehicle's occupants when the "other guys" are uninsured or don't have enough coverage. It can pay for injuries sustained by your vehicle's occupants as well as your vehicle's damage.

Because many people carry very low liability coverage limits (Kentucky limits are 25/50/10), their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Cover all your bases

Consumers leave their current company for a number of reasons such as policy cancellation, policy non-renewal, not issuing a premium refund or delays in responding to claim requests. Whatever your reason, choosing a new insurance company can be easy and end up saving you some money.

As you quote Lexington auto insurance, do not reduce needed coverages to save money. There are too many instances where an insured dropped physical damage coverage only to discover later that they should have had better coverage. Your strategy should be to buy enough coverage for the lowest price, but do not skimp to save money.

Some insurance companies do not provide the ability to get quotes online and these regional carriers only sell through independent insurance agencies. Cheap BMW 328i insurance in Lexington is attainable online as well as from insurance agents, so you should be comparing quotes from both so you have a total pricing picture.

How to find cheaper rates for BMW 328i insurance in Lexington

If you want to save the most money, the best way to get more affordable car insurance rates in Lexington is to compare prices regularly from different companies in Kentucky.

Step 1: Take a few minutes and learn about individual coverages and the things you can control to keep rates down. Many rating factors that result in higher rates such as speeding tickets, accidents and poor credit rating can be controlled by making minor driving habit or lifestyle changes.

Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agencies can give you price quotes from many different companies. View prices

Step 3: Compare the quotes to your existing rates to see if switching to a new carrier will save money. If you can save money, verify that coverage does not lapse between policies.

Step 4: Tell your current agent or company to cancel your current auto insurance policy. Submit the signed application along with the required initial payment to the new company. Be sure to keep the new certificate verifying coverage along with your vehicle registration.

A valuable tip to remember is that you'll want to make sure you compare the same physical damage deductibles and liability limits on each price quote and to quote with every company you can. Doing this provides a fair rate comparison and a better comparison of the market.

Additional information can be found at the links below