Affordable Insurance for a BMW Z4 in Plano

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If you want to save money, the best way to get affordable BMW Z4 insurance is to compare quotes once a year from insurance carriers that insure vehicles in Plano. You can shop around by following these steps.

  • First, get a basic knowledge of how auto insurance works and the measures you can control to prevent expensive coverage. Many things that drive up the price like accidents, careless driving, and a negative credit history can be improved by improving your driving habits or financial responsibility.
  • Second, quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agents can give you price quotes from multiple companies.
  • Third, compare the price quotes to the price on your current policy to see if a cheaper rate is available in Plano. If you find a better price and decide to switch, ensure coverage does not lapse between policies.
  • Fourth, give notification to your agent or company to cancel your current policy. Submit a signed application and payment to your new agent or company. As soon as you can, put the certificate verifying proof of insurance in an easily accessible location.

One key aspect of rate comparisons is that you use similar coverage information on every quote and and to compare as many auto insurance providers as possible. This ensures the most accurate price comparison and the best price quote selection.

Insurance quote for BMW Z4 in PlanoIt's an obvious statement that car insurance companies want to keep your business as long as possible. People who shop around for cheaper rates are highly likely to switch companies because they have good chances of finding a more affordable policy premium. Surprisingly, a recent survey revealed that people who compared rates once a year saved on average $72 a month as compared to drivers who never shopped around for lower prices.

If saving money on insurance is your intention, then having an understanding of the best way to shop and compare insurance rates can make the process more efficient.

If you're already insured, you will surely be able to find better prices using these methods. The goal of this article is to let you in on the best ways to compare prices and how you can save the most money. But Texas consumers need to have an understanding of how the larger insurance companies calculate your policy premium because it can help you find the best coverage.

Low cost Plano BMW Z4 insurance quotes

When comparison shopping, comparing all the rates in your area provides better odds of finding lower pricing. Not every company provides online rate quotes, so you need to compare price quotes from them, too.

The companies shown below can provide quotes in Texas. To find the best auto insurance in TX, we suggest you visit several of them in order to get a fair rate comparison.

Detailed insurance information

The information shown below outlines a range of insurance premium costs for BMW Z4 models. Understanding more about how auto insurance policy rates are formulated can help guide drivers when making informed purchases.

BMW Z4 Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $258 $532 $366 $22 $110 $1,288 $107
Z4 3.5I SDRIVE 2-Dr Roadster $258 $532 $366 $22 $110 $1,288 $107
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Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Rate quotes do not factor in specific location which can change premiums greatly.

Higher deductibles save money

One of the more difficult decisions when buying car insurance is which comprehensive and collision deductibles to buy. The rates shown below highlight the rate difference of buying low and high coverage deductibles. The first set of prices uses a $250 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

BMW Z4 insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $370 $672 $324 $20 $96 $1,507 $126
Z4 3.5I SDRIVE 2-Dr Roadster $370 $672 $324 $20 $96 $1,507 $126
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BMW Z4 insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $300 $542 $324 $20 $96 $1,282 $107
Z4 3.5I SDRIVE 2-Dr Roadster $300 $542 $324 $20 $96 $1,282 $107
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Information does not factor in specific garaging location which can change coverage rates significantly.

Using the data above, we can ascertain that using a $250 deductible costs approximately $19 more each month or $228 a year than buying the higher $500 deductible. Because you would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you average more than 13 months between claim filings, you would probably save some money if you choose the higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $126
Average monthly premium for $500 deductibles (subtract): - $107
Monthly savings from raising deductible: $19
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

The information below illustrates how your deductible choice and can impact BMW Z4 insurance prices for different age groups. The rate quotes are based on a married female driver, comp and collision included, and no discounts are applied.

Careless driving habits raise Plano car insurance rates

The diagram below illustrates how traffic citations and accident claims drive up BMW Z4 annual premium costs for each different age group. The information is based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.

Discounts mean cheaper rates for BMW Z4 insurance in Plano

Insurance is not inexpensive, but you might find some hidden discounts that can help lower your rates. Certain reductions will be credited when you purchase, but some must be requested specifically before being credited.Insurance discounts

  • Driver Safety - Participating in a course that instructs on driving safety could possibly earn you a 5% discount if your company offers it.
  • Professional Organizations - Participating in qualifying clubs or civic groups is a simple method to lower premiums on your bill.
  • Multi-policy Discount - If you have multiple policies with the same company you could earn a discount of approximately 10% to 15%.
  • Discounts for Seat Belt Usage - Buckling up and requiring all passengers to buckle their seat belts may be able to save a few bucks on the medical payments or PIP coverage costs.
  • Driving Data Discount - Insureds who allow driving data collection to spy on where and when they drive by using a telematic data system such as Allstate's Drivewise and State Farm's In-Drive system could save a few bucks as long as they are good drivers.
  • Discounts for Cautious Drivers - Safe drivers can get discounts for up to 45% lower rates as compared to drivers with claims.
  • Discount for Good Grades - Excelling in school can be rewarded with saving of up to 25%. You can use this discount normally up to age 25.
  • Distant Student Discount - Youth drivers who are enrolled in a college that is more than 100 miles from Plano and won't have access to an insured vehicle may qualify for this discount.

We need to note that most credits do not apply to your bottom line cost. The majority will only reduce the price of certain insurance coverages like medical payments or collision. Despite the fact that it seems like all those discounts means the company will pay you, that's just not realistic.

The example below shows the comparison of BMW Z4 auto insurance rates with and without discounts applied to the policy rates. The costs are based on a female driver, no claims or driving citations, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-car, safe-driver, claim-free, and multi-policy discounts applied.

A list of insurance companies and some of the premium reductions they offer are included below.

  • State Farm may include discounts for passive restraint, student away at school, multiple autos, good driver, and good student.
  • American Family offers discounts including multi-vehicle, accident-free, good student, defensive driver, and TimeAway discount.
  • AAA offers premium reductions for multi-policy, anti-theft, good driver, education and occupation, good student, multi-car, and AAA membership discount.
  • GEICO discounts include defensive driver, multi-policy, daytime running lights, anti-theft, and military active duty.
  • Mercury Insurance has discounts for professional/association, multi-policy, type of vehicle, good student, low natural disaster claims, anti-theft, and accident-free.
  • Farmers Insurance includes discounts for bundle discounts, teen driver, pay in full, business and professional, electronic funds transfer, switch companies, and good student.
  • Progressive may have discounts that include online quote discount, online signing, continuous coverage, multi-policy, and multi-vehicle.

If you want inexpensive Plano car insurance quotes, ask all companies you are considering which discounts can lower your rates. All car insurance discounts may not be offered in Plano. To find companies with discount insurance rates in Plano, click here.

Insurance is not optional but you don't have to overpay

Even though it's not necessarily cheap to insure a BMW in Plano, insuring your vehicle is most likely required but also gives you several important benefits.

  • Almost all states have compulsory liability insurance requirements which means you are required to buy specific limits of liability in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your Z4 has a lienholder, more than likely the lender will stipulate that you carry insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender may insure your BMW at a significantly higher premium and require you to pay a much higher amount than you were paying before.
  • Insurance safeguards both your assets and your BMW. It will also cover many types of medical costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you cause an accident and are sued. If you have damage to your BMW as the result of the weather or an accident, collision and comprehensive coverages will pay to have it repaired.

The benefits of insuring your Z4 are definitely more than the cost, especially when you need to use it. Unknowingly, the average driver is overpaying more than $810 a year so you should quote rates at least once a year to save money.

Don't I need to talk to a local insurance agent?

Many people prefer to talk to a local agent and that is OK! The biggest benefit of getting online price quotes is you may find cheap rate quotes and still buy from a local agent.

Plano insurance agentsOnce you complete this simple form, the quote information is immediately sent to local insurance agents who will give you bids to get your business. You won't even need to leave your computer since price quotes are sent immediately to your email address. Get lower rates AND an agent nearby. In the event you want to compare prices from a particular provider, just search and find their rate quote page to submit a rate quote request.

Picking the best insurer is decision based upon more than just a cheap quote. These are some questions you should get answers to.

  • Does the company have a local claim office in Plano?
  • What company do they have the most business with?
  • Does the agent have a valid license to sell insurance in Texas?
  • Is vehicle damage repaired with OEM or aftermarket parts?
  • Can you choose the body shop in case repairs are needed?
  • Will the company cover a rental car if your car is getting fixed?
  • Do the companies they represent have a solid financial rating?
  • How often do they review coverages?

Car insurance policy specifics

Having a good grasp of a car insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can change by endorsement.

Collision protection

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as scraping a guard rail, crashing into a ditch, driving through your garage door, hitting a parking meter and colliding with a tree. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. Drivers also have the option to raise the deductible on your Z4 to save money on collision insurance.

Comprehensive (Other than Collision)

This pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as falling objects, hitting a deer, rock chips in glass, damage from flooding and a broken windshield. The maximum amount you'll receive from a claim is the ACV or actual cash value, so if it's not worth much more than your deductible consider dropping full coverage.

Medical expense insurance

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses such as ambulance fees, pain medications, doctor visits and hospital visits. The coverages can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover all vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Auto liability insurance

Liability insurance will cover damage that occurs to other people or property. This insurance protects YOU from legal claims by others. Liability doesn't cover your injuries or vehicle damage.

Coverage consists of three different 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 30/60/25 which stand for a limit of $30,000 per injured person, $60,000 for the entire accident, and property damage coverage for $25,000.

Liability coverage protects against claims like medical expenses, bail bonds, funeral expenses, emergency aid and attorney fees. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but you should think about purchasing more coverage.

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

Protection from uninsured/underinsured drivers

This protects you and your vehicle's occupants when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your BMW Z4.

Because many people only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.