Have you fallen victim to an under-performing, overpriced insurance policy? Don’t feel bad because there are many people just like you.
It’s hard to believe, but most insurance policyholders kept their coverage with the same insurance company for well over three years, and practically 40% of insurance customers have never even compared rates from other companies. The average driver in El Paso could save themselves 70% a year by just shopping around, but they don’t understand how simple it is to compare rates.
How to find cheaper BMW X1 insurance in El Paso
The preferred way to get the cheapest BMW X1 insurance is to compare prices regularly from insurance carriers who provide car insurance in El Paso.
First, gain an understanding of how car insurance works and the measures you can take to drop your rates. Many risk factors that increase rates such as accidents, careless driving, and a not-so-good credit history can be improved by making lifestyle changes or driving safer.
Second, quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive and State Farm, while agents who are independent can give you price quotes for a wide range of companies.
Third, compare the new rates to your current policy premium to determine if you can save on X1 insurance. If you find a better price and buy the policy, ensure coverage does not lapse between policies.
Fourth, provide notification to your current agent or company to cancel your current car insurance policy. Submit a down payment and signed policy application to your new company or agent. Immediately place your new certificate verifying coverage in your vehicle.
A good tip to remember is to make sure you enter the same physical damage deductibles and liability limits on each quote request and and to get rates from every insurance company. Doing this helps ensure a fair rate comparison and a thorough selection of prices.
Lots of insurance companies contend for your insurance dollar, so it can be very hard to choose a insurer to discover the definitive cheapest price on BMW X1 insurance in El Paso.
You should make it a habit to compare rates on a regular basis since insurance prices change quite often. If you had the lowest quotes on BMW X1 insurance in El Paso six months ago you will most likely find a better rate today. Don’t believe everything you read about X1 insurance on the web, but you can learn some excellent ideas to put money back in your pocket.
If you are already insured or want to find a cheaper company, follow these tips to cut your premiums while maximizing coverage. Locating the best insurance company for you in El Paso is actually quite simple. You just need to learn the most time-saving way to buy auto insurance online from multiple companies.
Decisions You Make Can Impact Your Insurance Costs
Smart consumers have a good feel for the rating factors that play a part in calculating your policy premiums. If you have some idea of what impacts premium levels, this enables informed choices that will entitle you to lower insurance prices.
The factors shown below are some of the most rate-impacting factors utilized by car insurance companies to help set your rates.
Higher physical damage deductibles cost less – Coverage for physical damage, termed comprehensive and collision coverage on your policy, covers your vehicle from damage. Examples of some claims that would be covered are a dented fender, hail damage, and having your car stolen. Comprehensive and collision coverage deductibles are how much you are willing to pay before your insurance pays a claim. The more expense you pay before a claim is paid (deductible), the better rate you will receive.
Safer vehicles save money – Cars with five star safety ratings get lower rates. Safe vehicles reduce occupant injuries and fewer serious injuries means lower claim amounts and thus lower rates.
Is your vehicle theft-ready? – Buying a car with a theft deterrent system can save you some money. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent car theft.
Bad credit hurts insurance costs – Having a bad credit score is a large factor in determining what you pay for insurance. People with high credit ratings tend to file fewer claims than those with bad credit. If your credit rating is lower than you’d like, you could pay less to insure your BMW X1 by taking the time to improve your credit score.
Defend yourself with liability insurance – Liability coverage will provide protection if ever you are responsible for causing damage or personal injury in an accident. Liability insurance provides you with a defense in court to defend your case. Liability is cheap when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
Youthful drivers cost more – Youthful drivers in Texas are statistically proven to be more careless when at the wheel of a vehicle and because of this, their insurance rates are much higher. Older people tend to be more responsible, are lower risk to insure, and receive fewer citations.
BMW X1 claim data – Insurers take into consideration historical loss data for every vehicle to calculate a price that offsets possible losses. Vehicles that historically have higher loss trends will have higher rates. The table below shows the compiled insurance loss statistics for BMW X1 vehicles.
For each type of coverage, the statistical loss for all vehicles compiled together is equal to 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while percentage values above 100 point to more frequent losses or tendency to have higher losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW X1 4dr 2WD | 99 | 86 | 113 | 90 | 95 | 87 |
| BMW X1 4dr 4WD | 103 | 96 | 120 | 73 | 69 | 82 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Discounts mean cheaper rates for BMW X1 insurance in El Paso
Auto insurance is easily one of your largest bills, but there’s a good chance there are discounts that can help lower your rates. Certain reductions will be credited when you quote, but occasionally some discounts must be requested specifically before you will receive the discount.
- More Vehicles More Savings – Buying coverage for multiple cars on one policy can reduce the rates for all insured vehicles.
- Federal Employees – Active or former government employment can earn a discount up to 10% depending on your auto insurance provider.
- Telematics Data – Policyholders that allow companies to scrutinize when and where they use their vehicle by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if their driving habits are good.
- Low Miles Discount – Low annual miles could be rewarded with slightly better auto insurance rates than normal.
- Membership in Organizations – Being in qualifying employment or professional organizations can get you a small discount on your bill.
- Safe Drivers – Safe drivers may receive a discount up to 45% compared to accident prone drivers.
- Driver Safety – Taking a course that instructs on driving safety is a good idea and can lower rates if your company offers it.
- Discount for Life Insurance – Larger insurance companies have a discounted rate on car insurance if you buy some life insurance too.
- Early Renewal Discounts – Select insurance companies give a discount for switching to them prior to the expiration date on your current X1 insurance policy. It’s a savings of about 10%.
As a footnote on discounts, most credits do not apply to all coverage premiums. Most only apply to the price of certain insurance coverages like comp or med pay. Even though it appears all the discounts add up to a free policy, that’s just not realistic.
To view insurance companies that offer many of these discounts in El Paso, click here to view.
Cheaper insurance rates are possible
In this article, we presented some good ideas how you can compare BMW X1 insurance prices in El Paso. It’s most important to understand that the more providers you compare, the higher the chance of saving money. You may even be surprised to find that the most savings is with an unexpected company.
When buying insurance coverage, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are many occasions where an accident victim reduced liability coverage limits and learned later that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy enough coverage at a price you can afford and still be able to protect your assets.
People leave their current company for a number of reasons such as poor customer service, delays in responding to claim requests, policy non-renewal and denial of a claim. It doesn’t matter what your reason, choosing a new insurance company can be less work than you think.
How to find better rates for BMW X1 insurance in El Paso
The preferred way to find low-cost BMW X1 insurance in El Paso is to start doing an annual price comparison from insurance carriers who sell insurance in Texas. This can be done by completing these steps.
- Step 1: It will benefit you to learn about how companies price auto insurance and the measures you can control to drop your rates. Many risk factors that result in higher rates such as traffic violations and a poor credit rating can be improved by paying attention to minor details.
- Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or State Farm, while independent agents can quote prices from multiple insurance companies. Click to view companies
- Step 3: Compare the price quotes to your existing rates and determine if cheaper X1 coverage is available in El Paso. If you find a lower rate and change companies, make sure coverage does not lapse between policies.
- Step 4: Provide notification to your current company of your decision to cancel your existing policy. Submit a down payment along with a completed application for the new policy. Be sure to put the certificate of insurance with the vehicle registration.
A key point to remember is to use identical limits and deductibles on every quote and and to get rates from as many companies as possible. Doing this enables an apples-to-apples comparison and a good representation of prices.
Even more information is located by following these links:
- Rollover Crash FAQ (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)