Anyone knows that insurance companies don’t want you comparing rates. Consumers who rate shop once a year will, in all likelihood, switch companies because the odds are good of finding a lower-priced policy. A recent survey revealed that people who made a habit of comparing rate quotes saved an average of $865 annually compared to other drivers who don’t regularly compare prices.
If finding the cheapest rates on car insurance is your ultimate objective, knowing how to compare car insurance can make shopping around easier.
It takes a few minutes, but the best way to get affordable BMW Alpina B7 insurance in Virginia Beach is to regularly compare quotes from providers in Virginia.
Step 1: Get an understanding of how companies set rates and the factors you can control to prevent high rates. Many policy risk factors that cause high rates such as tickets, at-fault accidents, and an unacceptable credit rating can be eliminated by making small lifestyle or driving habit changes. Read the full article for additional tips to help reduce premium rates and find possible discounts that are available.
Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agents can provide price quotes from multiple sources. View prices
Step 3: Compare the quotes to your current policy to determine if switching companies saves money. If you can save some money and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Tell your current agent or company of your intent to cancel your current auto insurance policy. Submit payment and a signed application to your new agent or company. Immediately upon receiving it, place your new certificate of insurance in your vehicle.
The key thing to remember is that you’ll want to compare identical deductibles and limits on each price quote and and to look at as many carriers as you can. This provides an apples-to-apples comparison and a thorough selection of prices.
Finding low cost car insurance rates can be quick and easy. Just take a few minutes getting comparison quotes to find out which insurance company has affordable Virginia Beach car insurance quotes.
The companies shown below are ready to provide price quotes in Virginia Beach, VA. To locate the best car insurance in Virginia Beach, VA, we suggest you get prices from several of them in order to find the most affordable rates.
Three reasons insurance is important
Despite the fact that insurance is not cheap in Virginia Beach, insurance is required in Virginia but it also protects you in many ways.
- Just about all states have mandatory insurance requirements which means you are required to buy specific minimum amounts of liability in order to drive the car. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you took out a loan on your BMW, almost every bank will have a requirement that you buy full coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank will be required to insure your BMW at an extremely high rate and require you to reimburse them much more than you were paying before.
- Insurance protects both your BMW and your personal assets. It also can pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the damage repairs after a deductible is paid.
The benefits of insuring your car are definitely more than the cost, especially for larger claims. On average, a vehicle owner in Virginia Beach overpays as much as $800 each year so you should quote your policy with other companies at every renewal to ensure rates are inline.
Auto insurance coverages
Having a good grasp of your policy helps when choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.
Collision insurance pays for damage to your Alpina B7 resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a parking meter, hitting a mailbox, damaging your car on a curb, scraping a guard rail and crashing into a building. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible on your Alpina B7 in order to get cheaper collision rates.
Coverage for medical expenses
Coverage for medical payments and/or PIP provide coverage for bills for things like rehabilitation expenses, dental work and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Comprehensive auto insurance
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like damage from flooding, hail damage, hitting a deer and theft. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
This will cover damages or injuries you inflict on people or other property by causing an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/20 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $20,000 of coverage for damaged property.
Liability coverage protects against claims like medical services, structural damage, repair bills for other people’s vehicles, loss of income and medical expenses. How much coverage you buy is a personal decision, but you should buy as large an amount as possible. Virginia state minimum liability requirements are 25/50/20 but it’s recommended drivers buy higher limits.
The next chart demonstrates why minimum state limits may not be adequate.
Coverage for uninsured or underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as damage to your BMW Alpina B7.
Since many Virginia drivers only purchase the least amount of liability that is required (25/50/20), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.