The most effective way to save money on BMW X3 insurance is to start comparing rates regularly from providers who can sell car insurance in Jersey City.
- First, read and learn about policy coverages and the changes you can make to keep rates down. Many things that cause high rates such as accidents, traffic violations, and your credit history can be remedied by paying attention to minor details.
- Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while agents who are independent can give you price quotes from multiple sources.
- Third, compare the price quotes to your existing coverage and determine if cheaper X3 coverage is available. If you can save some money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide notification to your current company of your intent to cancel your current car insurance policy. Submit the signed application along with the required initial payment for the new coverage. Be sure to put the proof of insurance paperwork above your visor, in the console, or in the glove compartment.
A key point to remember is to use identical coverage information on every quote request and and to get quotes from as many companies as you can. Doing this guarantees a level playing field and a thorough selection of prices.
Amazingly, the vast majority of consumers kept their policy with the same company for well over three years, and nearly 40% of drivers have never shopped around. With the average car insurance premium being $1,847, American drivers can cut their rates by almost 46.5% a year, but they don’t invest the time required to shop their coverage around.
If you have insurance now or just want cheaper coverage, you can use these tips to reduce the price you pay and possibly find even better coverage. Choosing the best rates in Jersey City is actually not that difficult if you follow our advice. Shoppers only need to know the least time-consuming way to compare insurance rates from many different companies.
How to buy BMW X3 insurance in Jersey City, NJ
The companies shown below can provide quotes in New Jersey. If multiple companies are listed, it’s a good idea that you get rate quotes from several of them in order to find the lowest rates.
Take advantage of these discounts
Car insurance companies don’t always advertise the complete list of policy discounts very well, so the next list breaks down a few of the more common and also the more inconspicuous auto insurance savings.
- Memberships – Belonging to a professional or civic organization may earn a discount on your bill.
- Government Employees – Active or former government employment may reduce rates when you quote Jersey City car insurance with a few auto insurance companies.
- No Claims – Drivers with accident-free driving histories are rewarded with significantly better rates on Jersey City car insurance quote when compared with accident-prone drivers.
- Safe Driver Discount – Drivers without accidents may receive a discount up to 45% compared to rates paid by drivers with frequent claims.
- Auto/Life Discount – Companies who offer life insurance give a discounted price on car insurance if you buy some life insurance in addition to your auto policy.
- Drivers Ed for Students – Cut your cost by having your teen driver take driver’s ed class as it can save substantially.
- Multiple Policy Discount – If you can bundle your home and auto insurance and place coverage with the same company you could earn a discount of nearly 15% which can help you find inexpensive BMW X3 insurance in Jersey City.
- Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and can earn a small discount on your policy.
One thing to note about discounts is that most discounts do not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like liability and collision coverage. Just because it seems like all the discounts add up to a free policy, it just doesn’t work that way.
The diagram below shows the difference between BMW X3 auto insurance rates with and without discounts. The information is based on a male driver, a clean driving record, no claims, New Jersey state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, claim-free, multi-car, safe-driver, and multi-policy discounts applied.
To view insurers who offer online BMW X3 insurance quotes in Jersey City, follow this link.
BMW X3 coverage analysis
The rate information displayed below showcases detailed analysis of coverage prices for BMW X3 models. Learning how insurance prices are established can help customers make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|X3 3.0I xDrive AWD 4-Dr||$326||$706||$544||$32||$162||$1,770||$148|
|Get Your Own Custom Quote Go|
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate information does not factor in zip code location which can decrease or increase rates substantially.
The information below shows how choosing a deductible and can change BMW X3 insurance prices for different age groups. The prices are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Shop online but buy locally
Many drivers would rather buy from a licensed agent and there is nothing wrong with that. Experienced insurance agents can help determine the best coverages and help submit paperwork. The best thing about comparing rate quotes online is the fact that you can find better rates and still have a local agent.
By using this quick form, the quote information is submitted to local insurance agents who will return price quotes for your insurance coverage. You don’t have to even leave your home due to the fact that quote results will go to your email. If you want to quote rates from a specific auto insurance provider, don’t hesitate to go to their quote page and complete a quote there.
Choosing the best company is decision based upon more than just the bottom line cost. Any agent in Jersey City should have no problem answering these questions:
- Can you choose the body shop in case repairs are needed?
- Which companies can they place coverage with?
- Do they specialize in personal lines auto insurance in Jersey City?
- Are they giving you every discount you deserve?
- Do they have designations such as AIC, CPCU, or CIC?
- How long has their agency been in business in Jersey City?
- Is the agent properly licensed in New Jersey?
If you need to find a local Jersey City insurance agent, there are a couple of types of agencies and how they differ in how they can insure your vehicles. Auto insurance agents in Jersey City can be categorized as either independent agents or exclusive agents depending on their employer. Either can write policy coverage, but we need to point out the difference between them because it can impact your selection of an agent.
Exclusive Insurance Agents
Agents that elect to be exclusive can usually just insure with one company like Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents cannot provide prices from multiple companies so they have no alternatives for high prices. Exclusive agents are usually quite knowledgeable in insurance sales and that enables them to sell even at higher rates.
Below are Jersey City exclusive agents that are able to give rate quotes.
Independent Auto Insurance Agents
Independent agents are not limited to a single company so they have the ability to put coverage with an assortment of companies and find the cheapest rate. If prices rise, they simply move the coverage in-house which makes it simple for you.
When comparison shopping, you need to get rate quotes from at a minimum one independent agency in order to have the best price comparison.
Shown below are Jersey City independent agencies that can give you rate quotes.
1674 John F. Kennedy Blvd # A – Jersey City, NJ 07305 – (201) 434-4760 – View Map
GG Insurance – Independent Insurance Agent
270 Marin Boulevard, Metropolis Towers Suite #14D – Jersey City, NJ 07302 – (800) 801-0394 – View Map
Six Things That Impact Your Insurance Costs
Many factors are used when you get your auto insurance bill. Some factors are common sense such as your driving history, but some are more obscure such as whether you are married and annual miles driven. Part of the insurance buying process is learning some of the things that are used to determine the level of your policy premiums. If you know what controls the rates you pay, this allows you to make educated decisions that can earn you cheaper rates.
The itemized list below are some of the items used by companies to determine your rates.
Traffic violations mean higher premiums – Even a single citation could increase your next policy renewal substantially. Attentive drivers get better rates than their less careful counterparts. Drivers with dangerous tickets like DUI, reckless driving or excessive speeding may be required to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.
The example below demonstrates how speeding tickets and accident claims can impact BMW X3 car insurance costs for different age groups. The data assumes a married female driver, comp and collision included, $100 deductibles, and no discounts are taken into consideration.
- Deter car thieves – Selecting a car model with anti-theft technology or alarm system can get you a discount on your insurance. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms help track and prevent auto theft and help lower rates.
- Lower premiums for safer cars – Vehicles that have high safety ratings get lower rates. Safe vehicles reduce occupant injuries and lower rates of occupant injuries means less money paid by your insurance company which can result in lower premiums. If your BMW X3 is rated at a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
Teen driver insurance costs – Young drivers in New Jersey tend to be less responsible behind the wheel so they pay higher insurance rates. Older insureds are more cautious drivers, are lower risk to insure, and get fewer tickets.
The following data assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
- Don’t cut corners with liability insurance – A critical coverage on your policy, liability insurance kicks in when you are responsible for damages from an accident. Liability provides legal defense coverage which can cost thousands of dollars. This coverage is very inexpensive compared to physical damage coverage, so do not cut corners here.
- High deductibles cost less – Physical damage coverage, also known as collision and other-than-collision, insures against damage to your BMW. Examples of covered claims would be a broken side mirror, collision with an animal, and rolling your vehicle. Physical damage deductibles represent how much money you are willing to pay in the event of a claim. The more you choose to pay out-of-pocket, the bigger discount you will receive.
Loss probability for a BMW X3 – Companies analyze historical claim data when determining insurance rates. Vehicles that have higher claim frequency or loss amount will have higher premium rates. The data below shows the historical loss data for BMW X3 vehicles.
For each coverage type, the claim probability for all vehicles, as an average, is considered to be 100. Numbers that are below 100 imply a favorable loss record, while percentages above 100 point to more losses or an increased likelihood of larger losses.
BMW X3 Insurance Loss Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW X3 4dr 2WD 122 99 BMW X3 4dr 4WD 109 93 117 69 64 76BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Here’s why insurance is not optional
Even though it can be expensive, maintaining insurance may be mandatory for several reasons.
First, the majority of states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability protection if you don’t want to risk a ticket. In New Jersey 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.
Second, if you bought your vehicle with a loan, more than likely the lender will require that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the lender will be forced to insure your BMW at a significantly higher premium and force you to pay for the expensive policy.
Third, insurance safeguards both your vehicle and your personal assets. It will also cover hospital and medical expenses that are the result of an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than cancel out the cost, especially for larger claims. The average driver in New Jersey is overpaying more than $865 each year so it’s recommended you shop around at every policy renewal to save money.
The best insurance company isn’t always the cheapest
Lower-priced BMW X3 insurance in Jersey City can be found from both online companies and from local insurance agents, and you should compare rates from both to get a complete price analysis. A few companies do not provide rate quotes online and many times these small, regional companies sell through independent insurance agents.
When you buy Jersey City car insurance online, make sure you don’t skimp on critical coverages to save a buck or two. There have been many cases where an accident victim reduced collision coverage only to regret at claim time that the small savings ended up costing them much more. Your strategy should be to buy the best coverage you can find at an affordable rate, but don’t skip important coverages to save money.
We covered a lot of techniques to shop for BMW X3 insurance online. The most important thing to understand is the more price quotes you have, the better likelihood of getting affordable BMW X3 insurance quotes. You may even be surprised to find that the lowest premium rates are with a small mutual company. Some small companies may cover specific market segments cheaper than their larger competitors like Progressive or GEICO.
More detailed car insurance information can be found in the articles below:
- Comprehensive Coverage (Liberty Mutual)
- Who Has Affordable Car Insurance Rates for Ride Shares in Jersey City? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for High Mileage Drivers in Jersey City? (FAQ)
- Older Driver Statistics (Insurance Information Institute)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Keeping Children Safe in Crashes Video (iihs.org)