We don't have to point out that fact that insurance companies don't want you comparing rates. People who shop around at least once a year will probably move their business because of the high probability of finding coverage at a cheaper rate. A survey found that drivers who shopped around every year saved on average $850 each year compared to drivers who don't make a habit of comparing rates.
If finding the cheapest price for BMW X1 insurance in Tampa is the reason for your visit, then learning a little about how to get rate quotes and compare car insurance can help simplify the task of finding more affordable coverage.
To save the most money, the best way to find discount auto insurance rates is to make a habit of comparing prices annually from companies that sell auto insurance in Tampa. You can compare prices by following these steps.
- Spend some time learning about individual coverages and the things you can control to keep rates in check. Many rating criteria that cause rate increases such as at-fault accidents, speeding tickets, and a not-so-good credit score can be eliminated by being financially responsible and driving safely.
- Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like Progressive or Allstate, while agents who are independent can provide price quotes for a wide range of companies. View rates
- Compare the new quotes to the price on your current policy to see if you can save by switching companies. If you can save some money and make a switch, make sure there is no lapse in coverage.
- Notify your agent or company of your decision to cancel your current auto insurance policy. Submit a down payment and signed policy application for the new coverage. As soon as you receive it, place your new certificate of insurance somewhere easily accessible.
The key thing to remember is that you use the same physical damage deductibles and liability limits on each quote request and and to get price quotes from as many auto insurance providers as possible. This provides an accurate price comparison and a thorough price selection.
If you are insured now, you will definitely be able to buy cheaper auto insurance using these tips. Locating the best rates in Tampa is not that difficult. Although Florida drivers do need to learn the methods companies use to price insurance differently because rates are impacted by many factors.
All major car insurance companies allow you to get price estimates on their websites. Getting online rates for BMW X1 insurance in Tampa doesn't take much effort as you simply type in your required coverages on the page. Once you submit the form, the system automatically retrieves information on your driving record and credit history and returns a price based on these factors. This makes comparing rates easy, and it's very important to perform this step in order to find a lower rate.
To quickly find out what other companies charge, check out the car insurance providers below. If you have your current policy handy, we recommend you copy your coverages identical to your current policy. Using the same limits helps guarantee you will receive rate comparison quotes based on the exact same insurance coverage.
The companies in the list below provide free quotes in Florida. In order to find the best auto insurance in Florida, we suggest you visit two to three different companies to find the most affordable auto insurance rates.
Insuring your BMW vehicle just makes sense
Despite the fact that insurance is not cheap in Tampa, insurance is required for several reasons.
- Just about all states have mandatory insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage if you don't want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your BMW X1 has a loan, it's most likely the lender will make it a condition of the loan that you have insurance to guarantee payment of the loan. If you default on your policy, the bank will be required to insure your BMW at a much higher rate and make you pay the higher premium.
- Insurance protects both your vehicle and your assets. It will also cover medical bills for both you and anyone you injure as the result of an accident. Liability insurance also covers legal expenses if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance more than offset the price you pay, particularly for liability claims. On average, a vehicle owner in Tampa overpays more than $825 a year so it's important to compare rates once a year at a minimum to ensure rates are inline.
Seven factors that influence insurance costs
Lots of factors are considered when you get a price on insurance. Some are pretty understandable like an MVR report, although others are more obscure such as whether you are married or how safe your car is. An important part of buying insurance is that you know the different types of things that help calculate the level of your policy premiums. If you understand what determines base rates, this helps enable you to make changes that will entitle you to lower insurance prices.
An active insurance claims history can cost more - Car insurance companies in Florida award lower rates to people who are not frequent claim filers. If you're an insured who likes to file claims you can definitely plan on increased rates or even have your policy non-renewed. Your insurance policy is meant to be used in the event of more catastrophic claims.
Single drivers take more risk - Having a significant other can actually save you money on insurance. It translates into being less irresponsible and it's statistically proven that drivers who are married are more cautious.
Females tend to take less risk - Over the last 50 years, statistics have shown females are less aggressive when driving. The data does not necessarily mean that females are better at driving than males. Both genders cause at-fault accidents in similar percentages, but guys have costlier accidents. Not only that, but men also have more aggressive citations like DUI and reckless driving.
Deter theft and pay less - Owning a car with anti-theft technology or alarm system can help lower your premiums. Systems that thwart thieves like OnStar, LoJack tracking, and tamper alarms all aid in stopping auto theft and help lower rates.
Lower performance equals lower insurance premiums - The type of car or truck you need insurance for makes a big difference in determining your rates. The cheapest rates will normally be found when insuring lower performance four cylinder passenger cars, but the cost you end up paying is determined by many additional factors.
Tickets cost more than a fine - Whether or not you get tickets has a lot to do with how much you pay for insurance. Getting just one speeding ticket can increase the cost of insurance by twenty percent. Careful drivers receive lower rates compared to bad drivers. Drivers who get severe citations such as DUI, reckless driving or excessive speeding may face state-mandated requirements to submit a SR-22 form with their state's department of motor vehicles in order to drive a vehicle legally.
Liability - A critical coverage on your policy, liability insurance is the protection in the event that a jury decides you are liable for personal injury or accident damage. Your liability coverage provides legal defense up to the limits shown on your policy. Liability is cheap compared to physical damage coverage, so insureds should have plenty of protection for their assets.
BMW X1 historical loss data - Companies analyze past claim statistics in order to profitably underwrite each model. Vehicles that have a higher amount or frequency of claims will have higher rates for specific coverages. The next table shows the actual insurance loss data for BMW X1 vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, is equal to 100. Numbers below 100 suggest losses that are better than average, while values over 100 point to more losses or larger claims.
|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: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lower your insurance rates with discounts
Companies that sell car insurance don't list all possible discounts very well, so we took the time to find some of the more common and also the more inconspicuous discounts that you can inquire about if you buy Tampa car insurance online.
- Air Bags and Passive Restraints - Vehicles equipped with air bags could see savings of more than 20%.
- Discounts for New Vehicles - Putting insurance on a new X1 can save you some money because new vehicles keep occupants safer.
- Homeowners Savings - Being a homeowner can get you a discount since owning and maintaining a home shows financial diligence.
- Anti-theft System - Anti-theft and alarm system equipped vehicles are stolen less frequently so companies will give you a small discount.
- Accident-Free Discounts - Insureds who avoid accidents and claims pay less in comparison to bad drivers.
- Low Mileage Discounts - Driving less may allow you to get substantially lower premium rates.
- Auto/Life Discount - Companies who offer life insurance give a break if you buy life insurance from them.
- Sign Early and Save - A few insurance companies give discounts for switching to them prior to your current X1 insurance policy expiration. Ten percent is about the average savings.
- Payment Method - If you pay your bill all at once instead of paying each month you may reduce your total bill.
Discounts save money, but please remember that most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like physical damage coverage or medical payments. So when the math indicates all the discounts add up to a free policy, companies wouldn't make money that way.
To see a list of insurance companies who offer discounts in Tampa, click this link.
You may need specialized insurance coverage
Always remember that when buying proper insurance coverage, there isn't really a one size fits all plan. Everyone's situation is unique so your insurance should reflect that Here are some questions about coverages that can aid in determining whether you would benefit from professional advice.
- Is there coverage for my trailer?
- What is PIP insurance?
- What is UM/UIM insurance?
- Does my insurance cover damage caused when ticketed for reckless driving?
- How high should deductibles be on a BMW X1?
- Should I sign the liability waiver when renting a car?
- Is my business laptop covered if it gets stolen from my vehicle?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Why am I required to buy high-risk coverage?
- Can I get a multi-policy discount?
If you're not sure about those questions but a few of them apply, you may need to chat with an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.
Compare prices but still have a neighborhood Tampa auto insurance agent
A lot of people just prefer to buy from a local agent and that can be a smart move The biggest benefit of comparing insurance online is the fact that drivers can get cheap insurance quotes and also buy local.
By using this simple form, the quote information is instantly submitted to local insurance agents who want to provide quotes for your business. You won't even need to visit any agencies due to the fact that quote results will go immediately to you. You can find lower rates and work with a local agent. If for some reason you want to compare prices for a specific company, you just need to search and find their rate quote page and submit a quote form there.
Picking an insurer should depend on more than just the price. The questions below may impact your decision as well.
- Do they have 24-hour customer assistance?
- If you are a high risk driver, do they have special markets for your coverage?
- Has the agent ever had any license suspensions?
- Will your rates increase after a single accident?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Will they make sure you get an adequate claim settlement?
If you want to use a reliable insurance agency, there are two different agency structures and how they can service your needs differently. Agents in Tampa are categorized either independent (non-exclusive) or exclusive.
Exclusive Insurance Agencies
Exclusive agents have only one company to place business with such as Farmers Insurance or State Farm. Exclusive agents cannot provide other company's prices so they are skilled at selling on more than just price. Exclusive agents are well schooled on sales techniques and that enables them to sell even at higher rates.
Shown below is a short list of exclusive agencies in Tampa that can give you rate quotes.
John Lang - State Farm Insurance Agent
4023 W Waters Ave #5 - Tampa, FL 33614 - (813) 885-2748 - View Map
Independent Agencies or Brokers
Independent insurance agents are not employed by one company and that is an advantage because they can write policies through many different insurance companies and help determine which has the cheapest rates. If you are not satisfied with one company, they simply move your policy to a different company without you having to go to a different agency. When comparing rates, you will definitely want to get several quotes from several independent insurance agents to have the most options to choose from.
Listed below are Tampa independent insurance agencies that can give you price quote information.
Don't give up on cheaper rates
In this article, we covered many ways to compare BMW X1 insurance rates in Tampa. The key concept to understand is the more rate comparisons you have, the better likelihood of getting affordable Tampa car insurance quotes. Consumers could even find that the lowest rates are with the least-expected company. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like Progressive and GEICO.
Lower-priced BMW X1 insurance in Tampa is attainable both online and also from your neighborhood Tampa agents, and you need to price shop both to have the best selection. Some insurance providers may not provide online quoting and many times these small insurance companies work with local independent agencies.
For more information, take a look at the resources below:
- Collision Insurance Coverage (Nationwide)
- How Much are Auto Insurance Rates for Drivers Under 21 in Tampa? (FAQ)
- How Much is Auto Insurance for a Subaru Outback in Tampa? (FAQ)
- Distracted Driving (Insurance Information Institute)
- State Car Insurance Guides (GEICO)