The easiest way to get discount BMW X1 insurance is to start doing a yearly price comparison from companies who provide auto insurance in Louisville. Drivers can shop around by following these steps.
Step 1: Try to understand car insurance and the measures you can take to prevent rate increases. Many rating criteria that are responsible for high rates such as tickets, at-fault accidents, and an imperfect credit score can be improved by making minor changes to your lifestyle.
Step 2: Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or State Farm, while agents who are independent can quote rates from many different companies. Compare rates now
Step 3: Compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you can save some money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
The key aspect of shopping around is to use identical limits and deductibles on each quote request and and to analyze as many car insurance companies as possible. This provides a fair rate comparison and maximum price selection.
It’s a fact that insurance companies want to keep your business as long as possible. Drivers who shop around for cheaper rates are highly likely to move their business because they stand a good chance of finding a policy with better rates. A recent auto insurance study discovered that people who compared prices regularly saved approximately $3,450 over four years compared to those who don’t regularly compare prices.
If finding the most affordable auto insurance is why you’re reading this, knowing how to choose a company and compare coverage rates can save time and make the process easier.
When comparison shopping, getting more free quotes helps increase your odds of locating the best offered rates.
The following companies are our best choices to provide comparison quotes in Kentucky. To buy cheap auto insurance in Louisville, KY, it’s a good idea that you visit two to three different companies in order to get a fair rate comparison.
Protect more than your X1
Despite the high cost of buying insurance for a BMW X1 in Louisville, auto insurance is required for several reasons.
- Most states have minimum mandated liability insurance limits which means the state requires specific limits of liability coverage if you drive a vehicle. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your X1 with a loan, most banks will make it a condition of the loan that you carry insurance to protect their interest in the vehicle. If you default on your policy, the lender may insure your BMW at an extremely high rate and force you to reimburse them a much higher amount than you were paying before.
- Auto insurance protects both your car and your personal assets. It will also cover hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage also pays expenses related to your legal defense if anyone sues you for causing an accident. If your BMW gets damaged, your auto insurance policy will pay to repair the damage minus the deductible amount.
The benefits of having auto insurance more than offset the price you pay, especially for larger claims. Despite what companies tell you, the average driver is overpaying more than $800 each year so you should quote your policy with other companies once a year at a minimum to save money.
Cheaper rates with these six premium slashing discounts
Insurance can be prohibitively expensive, but there are discounts available that may help make it more affordable. Certain discounts will be applied when you get a quote, but once in a while a discount must be specially asked for prior to getting the savings.
- Safe Drivers – Insureds who avoid accidents may receive a discount up to 45% compared to accident prone drivers.
- Defensive Driving Course – Participating in a course teaching driver safety skills could cut 5% off your bill and make you a better driver.
- Claim Free – Drivers who don’t have accidents can save substantially when compared to drivers with a long claim history.
- Student in College – Older children who live away from home to go to college and do not have access to a covered vehicle could qualify for this discount.
- Driver’s Ed – Require your teen driver to successfully take a driver’s education course as it will make them better drivers and lower rates.
- Sign Early and Save – Some larger companies reward drivers for switching to them before your current coverage expires. It can save you around 10%.
Don’t be surprised that many deductions do not apply to the overall cost of the policy. Most cut specific coverage prices like liability and collision coverage. Just because you may think all the discounts add up to a free policy, company stockholders wouldn’t be very happy.
Auto insurance companies that may include these discounts include:
Before purchasing a policy, check with all the companies how you can save money. All car insurance discounts may not apply to policies in your state.
Compare rate quotes but work with a local Louisville insurance agent
Some people would rather talk to a local agent and that is not a bad decision One of the best bonuses of getting online price quotes is that you can obtain lower premium rates and also buy local.
After filling out this short form, your insurance data gets sent to agents in your area who will give you bids to get your business. You don’t have to contact any agents as quotes are delivered to you. You can most likely find cheaper rates and an insurance agent to talk to. If for some reason you want to quote rates from a particular provider, you would need to find their quoting web page and complete a quote there.
Choosing the best insurer requires you to look at more than just the price. You should also get answers to these questions.
- Does the company have a local claim office in Louisville?
- Do they carry Errors and Omissions coverage?
- Do they feel the quoted coverages are adequate?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Can you get a list of referrals?
- How long has the business existed?
- What insurance companies do they work with in Louisville?
- Do they specialize in personal lines coverage in Louisville?
If you are searching for a local agent, it’s helpful to know the different types of agencies and how they differ in how they quote coverages. Agencies in Louisville are considered either independent or exclusive.
Exclusive Insurance Agencies
These agents generally can only insure with one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents cannot provide rate quotes from other companies so you might not find the best rates. Exclusive agents are highly trained on their company’s products which helps them sell insurance even at higher premiums. Consumers frequently choose to use a exclusive agent partially due to high brand loyalty rather than having the cheapest rates.
Listed below are Louisville exclusive agencies that can give you comparison quotes.
- Sam Wheeler – State Farm Insurance Agent
2902 Bardstown Rd – Louisville, KY 40205 – (502) 459-9700 – View Map - Rudy Scheynost – State Farm Insurance Agent
7619 Dixie Hwy – Louisville, KY 40258 – (502) 937-5256 – View Map - Richard White – State Farm Insurance Agent
2420 Lime Kiln Ln Ste E – Louisville, KY 40222 – (502) 326-9800 – View Map
Independent Car Insurance Agents
Independent agents do not sell for just one brand and that enables them to quote your coverage through lots of different companies depending on which coverage is best. If your premiums go up, your agent can just switch to a different company and you stay with the same agent.
When comparing car insurance rates, you definitely need to get quotes from multiple independent agents so that you have a good selection of quotes to compare. Most have the option of insuring with companies you’ve never heard of which can save you money.
Listed below is a short list of independent insurance agencies in Louisville that can give you price quote information.
- Dolack Insurance Agency Inc.
4050 Westport Rd – Louisville, KY 40207 – (502) 333-0577 – View Map - Phil Brown Insurance Agency, Inc.
9300 Shelbyville Rd #1004 – Louisville, KY 40222 – (502) 327-6966 – View Map - Corey Insurance Agency
3832 Taylorsville Rd #1 – Louisville, KY 40220 – (502) 473-7910 – View Map
Information about specific coverages
Knowing the specifics of your policy can help you determine the best coverages at the best deductibles and correct limits. Car insurance terms can be confusing and coverage can change by endorsement.
Coverage for medical payments
Med pay and PIP coverage pay for short-term medical expenses like chiropractic care, rehabilitation expenses, prosthetic devices and pain medications. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible
Collision coverage protection
This coverage covers damage to your X1 from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims like hitting a parking meter, crashing into a building, crashing into a ditch, driving through your garage door and scraping a guard rail. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to increase the deductible on your X1 in order to get cheaper collision rates.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for injuries to you and your family and damage to your BMW X1.
Since many Kentucky drivers have only the minimum liability required by law (25/50/10), it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.
Comprehensive coverages
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like damage from a tornado or hurricane, a tree branch falling on your vehicle, damage from getting keyed and falling objects. The highest amount a car insurance company will pay at claim time 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.
Coverage for liability
Liability coverage can cover damage that occurs to other people or property in an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/10 which stand for $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged property.
Liability can pay for claims such as loss of income, attorney fees and bail bonds. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying higher limits if possible. Kentucky state minimum liability requirements are 25/50/10 but drivers should carry more coverage.
The chart below shows why the minimum limit may not be enough.
The best insurance company isn’t always the cheapest
We just showed you some good ideas how you can shop for BMW X1 insurance online. It’s most important to understand that the more rate quotes you have, the better chance you’ll have of finding affordable Louisville auto insurance quotes. You may even find the best prices are with a small local company.
Affordable BMW X1 insurance in Louisville is possible on the web and also from your neighborhood Louisville agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some companies do not provide price quotes online and usually these smaller companies prefer to sell through independent agencies.
As you prepare to switch companies, make sure you don’t buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced liability coverage limits and found out when filing a claim that it was a big mistake. The aim is to buy enough coverage at a price you can afford and still be able to protect your assets.
Additional information is located at these links:
- Steps to Take After an Auto Accident (Insurance Information Institute)
- What Insurance is Cheapest for a Honda Civic in Louisville? (FAQ)
- How Much are Auto Insurance Rates for Lyft Drivers in Louisville? (FAQ)
- Who Has Cheap Louisville Car Insurance for Veterans? (FAQ)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)