Being forced to pay for high-priced insurance premiums can consume your savings and force you to cut corners elsewhere. Comparing rates annually is free and is an excellent way to lower your bills every month.
It’s hard to fathom, but the vast majority of insurance customers in Texas kept their policy with the same company for more than four years, and about 40% of consumers have never compared rate quotes at all. U.S. drivers could save approximately $860 a year by just comparing rate quotes, but they just don’t understand how much they could save if they switched to a cheaper policy.
Vehicle owners have many insurance companies to purchase coverage from, and though it is a good thing to be able to choose, it can be more difficult to adequately compare rates for BMW X1 insurance in Austin.
You should make it a habit to do rate comparisons before your next renewal since insurance prices are rarely the same from one policy term to another. Even if you got the best deal on BMW X1 insurance in Austin six months ago a different company probably has better premium rates today. Forget all the misinformation about insurance because you’re about to learn how to use online quotes to find lower rates on insurance.
When comparison shopping, there are several ways to compare prices from lots of Texas insurance companies. The easiest way by far to do a complete rate comparison is simply to get online rate quotes.
Getting free quotes online is quite simple, and it replaces the need to drive around to and from local Austin insurance agencies. Quoting and buying BMW X1 insurance online makes this unnecessary unless you require the guidance that only an agent can give. It is possible with some companies get prices online but buy the policy through an agent.
Just keep in mind that getting more free quotes helps improve the odds of finding a better price.
The auto insurance companies shown below provide free rate quotes in Austin, TX. If multiple providers are shown, we recommend you compare several of them to get a more complete price comparison.
Insurance discounts are available to get cheap rates
Companies offering auto insurance do not advertise all their discounts very clearly, so the list below contains a few of the more well known as well as some of the hidden credits available to lower your premiums when you buy Austin car insurance online.
- Student Discounts – Excelling in school may save as much as 25% on a Austin car insurance quote. Most companies allow this discount up to age 25.
- E-sign Discounts – Some larger companies will discount your bill up to fifty bucks just for signing your application on your computer.
- Save with More Vehicles Insured – Buying insurance for multiple cars or trucks on one policy could earn a price break for each car.
- Low Mileage – Driving less could qualify for cheaper rates.
- Seat Belt Usage – Requiring all passengers to wear their seat belts can save up to 15% off PIP or medical payments premium.
- Switch and Save Discount – Select insurance companies give a discount for switching companies prior to the expiration date on your current X1 insurance policy. You can save around 10% with this discount.
- Savings for New Vehicles – Putting coverage on a new X1 can save up to 30% since new vehicles are generally safer.
- Save over 55 – Drivers that qualify as senior citizens are able to get better insurance rates.
- Passive Restraints – Cars that have air bags and/or automatic seat belt systems could see savings as much as 30%.
- Driver Training Discounts – Participating in a course in defensive driver can save you 5% or more and make you a better driver.
Discounts lower rates, but most credits do not apply to the entire policy premium. The majority will only reduce specific coverage prices like comprehensive or collision. If you do the math and it seems like all the discounts add up to a free policy, you aren’t that lucky.
Some of the insurance companies that may include these money-saving discounts include:
Check with every insurance company how many discounts you can get. Some discounts listed above may not apply to policies everywhere.
Are auto insurance agents used anymore?
Some consumers just prefer to visit with an insurance agent. The biggest benefit of comparing rate quotes online is you can get better rates and still choose a local agent. Supporting local agents is still important in Austin.
After filling out this quick form, the coverage information is instantly submitted to local insurance agents in Austin that give free quotes for your car insurance coverage. It simplifies rate comparisons since you won’t have to contact any agents since rate quotes are delivered immediately to you. You’ll get the best rates and a licensed agent to talk to. If for some reason you want to get a comparison quote from a specific company, you can always visit that company’s website and fill out the quote form the provide.
When looking for a local insurance agency, it’s helpful to know the different agency structures and how they differ in how they can insure your vehicles. Car insurance agents can be described as either independent or exclusive.
Independent Car Insurance Agencies
These agents are not restricted to one company and that gives them the ability to insure amongst many companies and find you the best rates. To transfer your coverage to a different company, they simply move the coverage in-house and that require little work on your part. If you are comparing car insurance prices, you will want to check rates from independent agents to maximize your price options.
Listed below is a small list of independent insurance agencies in Austin that can give you price quotes.
Exclusive Car Insurance Agents
Exclusive insurance agents write business for a single company like Farmers Insurance, State Farm, or Allstate. Exclusive agencies are unable to compare rates from other companies so keep that in mind. They are well schooled on the products they sell and that can be a competitive advantage.
Below are Austin exclusive insurance agents willing to provide comparison quotes.
Finding the right insurance agency shouldn’t rely on just a cheap price quote. Some important questions to ask are:
- Is there a 24/7 contact number?
- Will they make sure you get an adequate claim settlement?
- Will you work with the agent or an assistant?
- Do they get paid more for recommending certain coverages?
- Which company do they place the most coverage with?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- What companies can they write with?
- How will an accident affect your rates?
Three reasons to insure your BMW vehicle
Despite the potentially high cost of BMW X1 insurance, paying for auto insurance serves an important purpose.
- The majority of states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability protection if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your X1 has a loan, almost all lenders will require that you have physical damage coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank may insure your BMW at a more expensive rate and force you to reimburse them for the much more expensive policy.
- Insurance safeguards not only your car but also your assets. Insurance will pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, will also pay to defend you if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance definitely exceed the cost, especially for larger claims. Unknowingly, the average driver overpays more than $869 every year so compare rates each time the policy renews to save money.
Specifics of your auto insurance policy
Having a good grasp of a auto insurance policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Below you’ll find the usual coverages found on the average auto insurance policy.
Medical expense insurance
Coverage for medical payments and/or PIP provide coverage for bills for nursing services, surgery and rehabilitation expenses. They are used to fill the gap from your health insurance plan or if you are not covered by health insurance. It covers all vehicle occupants as well as any family member struck as a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Protection from uninsured/underinsured drivers
This protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many Texas drivers only purchase the least amount of liability that is required (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally the UM/UIM limits are set the same as your liability limits.
Comprehensive (Other than Collision)
This covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as vandalism, damage from flooding, hail damage and hitting a deer. The maximum payout you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Coverage for liability
This protects you from damage that occurs to a person or their property. It protects you from legal claims by others. It does not cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 30/60/25 that means you have $30,000 in coverage for each person’s injuries, a per accident bodily injury limit of $60,000, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage pays for claims like structural damage, emergency aid, attorney fees and loss of income. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible. Texas state law requires minimum liability limits of 30/60/25 but drivers should carry higher limits.
Collision coverage protection
Collision coverage pays to fix your vehicle from damage caused by collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like driving through your garage door, crashing into a ditch and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also raise the deductible on your X1 to bring the cost down.
Don’t give up on cheaper rates
Cost effective BMW X1 insurance can be purchased online as well as from insurance agents, so you should compare both so you have a total pricing picture. A few companies don’t offer internet price quotes and most of the time these smaller companies only sell coverage through independent insurance agencies.
As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where an insured cut comprehensive coverage or liability limits only to regret that the small savings ended up costing them much more. Your aim should be to purchase plenty of coverage at the best price, but do not sacrifice coverage to save money.
More tips and info about auto insurance can be read at these sites:
- Frontal Crash Tests (iihs.org)
- Who Has Affordable Austin Auto Insurance for Drivers with Good Credit? (FAQ)
- What Auto Insurance is Cheapest for 4×4 Vehicles in Austin? (FAQ)
- Who Has Cheap Austin Auto Insurance Quotes for a Chevrolet Silverado? (FAQ)
- Who Has Cheap Auto Insurance for Hybrid Vehicles in Austin? (FAQ)
- How Much are Car Insurance Rates for a Subaru Outback in Austin? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Chevrolet Equinox in Austin? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Vehicle Insurance in the U.S. (Wikipedia)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)