Sick and tired of scraping the payment together to keep your car insured? You're in the same situation as most other people in California.
It's an obvious statement that car insurance companies don't want you shop around. People who shop around for better prices are very likely to buy a new policy because they have a good chance of finding a lower-cost company. A recent auto insurance study discovered that people who shopped around saved $72 a month compared to other drivers who don't make a habit of comparing rates.
If finding budget-friendly insurance in San Jose is your goal, then learning about the best way to quote and compare cheaper coverage can make it easier to shop your coverage around.
Steps to saving on BMW Z4 insurance in San Jose
The preferred way to find cheaper prices for BMW Z4 insurance in San Jose is to compare quotes once a year from companies who sell auto insurance in California. Rate comparisons can be done by following these guidelines.
- First, gain an understanding of what coverages are included in your policy and the steps you can take to keep rates low. Many rating criteria that increase rates such as your driving record and poor credit history can be improved by making minor changes to your lifestyle. Later in this article we will cover the details to get better rates and find available discounts that you may qualify for.
- Second, request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from one company like Progressive or Farmers Insurance, while agents who are independent can quote rates for a wide range of companies.
- Third, compare the new rates to your current policy to see if a cheaper price is available. If you can save money and switch companies, verify that coverage does not lapse between policies.
An essential thing to point out is that you'll want to compare the same coverage limits and deductibles on every price quote and and to get price estimates from every insurance company. This enables an apples-to-apples comparison and a complete price analysis.
People have many auto insurance companies to purchase coverage from, and even though it's nice to have multiple companies, too many choices makes it more difficult to find a good deal for BMW Z4 insurance in San Jose.
Why Your Insurance Rates might be higher
When buying car insurance it's important to understand some of the things that aid in calculating your policy premiums. When you know what positively or negatively determines base rates, this allows you to make good choices that could help you find much lower annual insurance costs. Multiple criteria are taken into consideration when premium rates are determined. Most are fairly basic such as traffic violations, but other factors are less obvious like your continuous coverage or your financial responsibility.
The itemized list below are a few of the things used by insurance companies to determine rates.
Lower premiums for vehicles with better crash test results - Cars with five star safety ratings tend to have better insurance rates. Safer cars reduce occupant injuries and lower rates of occupant injuries translates into fewer and smaller insurance claims and cheaper rates on your policy. If your BMW Z4 has at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
Alarm systems systems cut rates - Driving a car with anti-theft technology or alarm system can help lower your rates. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems help track and prevent car theft and help bring rates down.
Claims cost money - If you file a lot of claims you can expect either policy cancellation or increased premiums. Companies in California give cheaper rates to drivers that do not abuse their auto insurance. Auto insurance is intended for claims that you cannot pay yourself.
If you don't need it don't buy it - Insurance policies have a lot of additional extra coverages that sound like a good idea at the time but may not be useful. Things like vanishing deductibles, better glass coverage, and extra life insurance coverage are examples of these. They may seem good when talking to your agent, but your money might be better spent on other coverage so remove them and pocket the money.
Good credit scores equal low prices - Having a bad credit score is likely to be a major factor in determining what you pay. If your credit score is low, you could pay less to insure your BMW Z4 by improving your rating. Insureds that have excellent credit tend to be more responsible and file fewer claims than drivers with lower ratings.
Higher comp and collision deductibles reduce costs - Comprehensive and collision coverage deductibles define how much you are required to pay before your car insurance pays a claim. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some examples of claims that would be covered are colliding with a stationary object, collision with a deer, and damage from wind. The more of the claim the insured is willing to pay, the lower your rates will be.
BMW Z4 insurance loss data - Insurers use data from past claims when they calculate premium costs for each model. Models that statistically have higher number or severity of losses will be charged more to insure.
The next table shows the actual insurance loss data for BMW Z4 vehicles. For each policy coverage type, the loss probability for all vehicles combined as an average equals 100. Values below 100 indicate better than average losses, while numbers above 100 point to more losses or a tendency for claims to be larger.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|BMW Z4 Convertible||131||67||78|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The are a couple different ways to obtain and compare prices from all the different companies. By far the easiest way to compare rates is to use the internet to compare rates.
Online shopping is fast and free, and it replaces the need to drive around to local insurance agencies. Comparing online rate quotes makes this unnecessary unless you want the trained advice only provided by licensed agents. Although you can get prices online but purchase the actual policy in an agency. Keep in mind that obtaining a wide range of quotes will enable you to find the best offered rates.
The companies in the list below are our best choices to provide free quotes in San Jose, CA. If multiple providers are shown, we recommend you get rate quotes from several of them to get a more complete price comparison.
Data for BMW Z4 insurance
The information displayed below highlights a range of insurance coverage prices for BMW Z4 models. Having a better idea how insurance policy rates are determined can aid in making decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Z4 3.0I SDRIVE 2-Dr Roadster||$390||$718||$386||$22||$116||$1,632||$136|
|Z4 3.5I SDRIVE 2-Dr Roadster||$390||$718||$386||$22||$116||$1,632||$136|
|Get Your Own Custom Quote Go|
Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Price information does not factor in specific location which can modify prices significantly.
The information below highlights how deductible selection and can change BMW Z4 insurance premiums for different age groups. The price estimates are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
BMW Z4 insurance premiums by gender and age
The example below shows the comparison of BMW Z4 insurance costs for male and female drivers. The data is based on no accidents, no driving violations, full physical damage coverage, $100 deductibles, drivers are single, and no discounts are taken into consideration.
Difference between full coverage and liability only rates
The chart below illustrates the difference between BMW Z4 yearly insurance costs with full physical damage coverage and with liability coverage only. The prices are based on no claims or driving violations, $250 deductibles, marital status is single, and no additional discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no written rule to delete physical damage insurance, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let's pretend your BMW Z4 book value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $2,000 after the deductible is paid. If you are currently paying more than $200 annually for your policy with full coverage, then you may want to consider only buying liability coverage.
There are some cases where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage in order to keep the loan. Also, if you can't afford to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.
Why do I need car insurance?
Even though it can be expensive, paying for insurance may not be optional for several reasons.
- Almost all states have mandatory insurance requirements which means it is punishable by state law to not carry a specific level of liability in order to drive the car legally. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you have a loan on your Z4, most lenders will have a requirement that you buy full coverage to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender will be forced to insure your BMW for a much higher rate and make you pay much more than you were paying before.
- Insurance protects both your assets and your car. It will also cover medical transport and hospital expenses incurred in an accident. Liability insurance will also pay to defend you if you are sued as the result of an accident. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance definitely exceed the price paid, especially for larger claims. In a recent study of 1,000 drivers, the average customer is overpaying over $700 annually so compare quotes from several companies at every policy renewal to be sure current rates are still competitive.
Lower-cost San Jose insurance rates with discounts
Insurance is easily one of your largest bills, but discounts can save money and there are some available that can help lower your rates. Certain discounts will be applied at the time of quoting, but occasionally some discounts must be asked for prior to getting the savings.
- Passive Restraints and Air Bags - Factory air bags can receive discounts of 25 to 30%.
- Bundle and Save - If you insure your home and vehicles with the same company you may earn up to 20% off your total Z4 insurance premium.
- Memberships - Joining certain professional organizations can get you a small discount when shopping for insurance.
- Anti-theft System - Cars and trucks equipped with anti-theft or alarm systems are stolen less frequently and qualify for as much as a 10% discount.
- Lower Rates for Military - Being deployed in the military can result in better prices.
- Senior Discount - Drivers over the age of 55 can possibly qualify for lower premium rates.
- Telematics Data - Drivers that enable companies to study driving manner through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates if they have good driving habits.
- Early Signing - Some larger companies give discounts for signing up before your current expiration date. It could save around 10% when you buy San Jose car insurance online.
- Federal Employees - Active or former government employment could cut as much as 10% off but check with your company.
- Save with a New Car - Putting insurance on a new Z4 is cheaper because new vehicles keep occupants safer.
Drivers should understand that most of the big mark downs will not be given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears you would end up receiving a 100% discount, nobody gets a free ride. But any discount will cut the premium cost.
The chart below shows the comparison of BMW Z4 car insurance costs with and without discounts applied. The premium estimates are based on a male driver, no accidents or driving violations, California 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 multi-car, multi-policy, safe-driver, claim-free, homeowner, and marriage discounts applied.
Companies that have many of the previously listed discounts include:
When getting a coverage quote, ask each company or agent the best way to save money. Some of the discounts discussed earlier may not apply to policyholders in San Jose. To see a list of insurance companies that offer some of these discounts in San Jose, click this link.
Get rate quotes but still have a local San Jose insurance agency
Many people still like to get advice from a local agent and there is nothing wrong with that. One of the benefits of comparing insurance online is the fact that you can find cheap insurance rates but also keep your business local. Supporting neighborhood agents is definitely important in San Jose.
After filling out this simple form, your insurance data is instantly submitted to insurance agents in San Jose who will return price quotes for your business. You never need to contact any agents because prices are sent to your email. It's the lowest rates without the usual hassles of price shopping. If you want to quote rates for a specific company, just jump over to their website to submit a rate quote request.
When searching for a local agent, it can be helpful to understand the types of insurance agents and how they can quote your rates. San Jose agents can either be exclusive or independent (non-exclusive).
Independent Agents (or Brokers)
Agents that elect to be independent are not locked into one company and that gives them the ability to insure with many different companies depending on which coverage is best. If your agent finds better pricing, an independent agent can move your coverage and you can keep the same agent.
When comparing insurance prices, it's a good idea to compare prices from a few independent agents to ensure the widest selection of prices.
Listed below is a short list of independent agents in San Jose that can possibly get you competitive price quotes.
Exclusive Insurance Agents
Exclusive agents have only one company to place business with such as Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot provide prices from multiple companies so if the price isn't competitive there isn't much they can do. Exclusive agencies are well trained on what they offer and that allows them to sell at a higher price point.
Listed below is a short list of exclusive insurance agents in San Jose willing to provide comparison quotes.
Deciding on a insurance agency should depend on more than just a cheap price. Agents should be asked these questions:
- Will your rates increase after a single accident?
- Do they get paid more for recommending certain coverages?
- Do they assist clients in filing claims?
- Does the agency provide any after hours assistance?
- Is the coverage adequate for your vehicle?
- How experienced are they in personal risk management?
- Is vehicle mileage a factor when determining depreciation for repairs?
The best insurance company isn't always the cheapest
When searching for inexpensive San Jose car insurance quotes, do not buy less coverage just to save a little money. There have been many cases where someone sacrificed uninsured motorist or liability limits only to discover later they didn't have enough coverage. The ultimate goal is to find the BEST coverage at a price you can afford and still be able to protect your assets.
Affordable BMW Z4 insurance in San Jose can be sourced online and from local insurance agents, so you need to shop San Jose car insurance with both so you have a total pricing picture. Some insurance companies may not provide the ability to get quotes online and these regional insurance providers only sell through independent agents.
Steps to finding low-cost BMW Z4 insurance in San Jose
To save the most money, the best way to get budget car insurance rates is to do a yearly price comparison from insurers who can sell car insurance in San Jose.
- Try to comprehend the coverage provided by your policy and the factors you can control to keep rates down. Many policy risk factors that cause high rates like speeding tickets, careless driving and poor credit history can be amended by making lifestyle changes or driving safer.
- Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and State Farm, while independent agencies can give you price quotes for many different companies. Find a San Jose insurance agent
- Compare the new rate quotes to your current policy premium to see if switching to a new carrier will save money. If you find a better price, verify that coverage does not lapse between policies.
One bit of advice is that you'll want to compare identical limits and deductibles on every price quote and and to get quotes from as many companies as you can. Doing this ensures a fair rate comparison and a good representation of prices.
More tips and info about car insurance can be found in these articles:
- Information for Teen Drivers (GEICO)
- Who Has the Cheapest Car Insurance Rates for a Learners Permit in San Jose? (FAQ)
- Who Has Affordable Auto Insurance for Active Military in San Jose? (FAQ)
- Who Has Affordable Auto Insurance Rates for a Nissan Altima in San Jose? (FAQ)
- Who Has Affordable Auto Insurance for a Ford Escape in San Jose? (FAQ)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Electronic Stability Control FAQ (iihs.org)
- Auto Insurance 101 (About.com)