Pricey car insurance in Seattle can dry up your bank account and force you to make tough financial choices. Getting a rate comparison can lower your rates and help to make sure you’re not throwing money away.
A recent survey discovered that a large majority of consumers have been with the same company for a minimum of four years, and approximately 40% of consumers have never even compared quotes to find cheaper rates. Washington drivers could save 40% every year by just comparing quotes, but they just don’t want to find cheaper rates by getting comparison quotes.
Big-name insurance companies like Progressive, GEICO and Farmers Insurance constantly blast consumers with fancy advertisements and consumers find it hard to separate fact from fiction and do the work needed to find the best deal.
It’s a good idea to quote other rates before your next renewal because car insurance prices tend to go up over time. Just because you found the best quotes on BMW X3 insurance in Seattle last year a different company probably has better rates today. Block out anything you think you know about car insurance because it’s time to teach you the easiest way to lower your annual insurance bill.
How to Lower Your Insurance Prices
Many different elements are considered when quoting car insurance. Some of the criteria are obvious such as your driving record, but others are more transparent like your continuous coverage or how financially stable you are.
The list below includes some of the most rate-impacting factors used by companies to determine your premiums.
Females tend to cost less – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that males are worse at driving than females. Women and men tend to get into auto accidents at a similar rate, but males have accidents that have higher claims. Men also have more aggressive citations like reckless driving and DUI. Males from age 16 to 21 are most likely to cause an accident and thus pay the highest rates.
Additional coverages that may be costing you – There are many additional coverages you can purchase when buying insurance. Add-on coverages like roadside assistance, accident forgiveness, and membership fees may not be needed and are just wasting money. They may sound like good ideas at first, but if you’ve never needed them in the past get rid of them and save.
Fast cars cost more to insure – The make and model of the car or truck you drive makes a huge difference in your rates. Since the BMW X3 is classified as a luxury crossover, insuring your vehicle will cost substantially more than the average rate where you live in Seattle. Smaller low performance passenger cars receive the most favorable rates, but there are many factors that impact the final cost.
What are good liability coverage limits? – Your policy’s liability coverage kicks in in the event that a jury decides you are liable for an accident. This coverage provides legal defense coverage which can cost a lot. This coverage is very inexpensive when compared to the cost of physical damage coverage, so buy as much as you can afford.
Pay more if you have a long commute – Living in smaller towns and rural areas of the country is a positive aspect when shopping for auto insurance. Urban drivers have to deal with more auto accidents and a longer drive to work. Fewer drivers on the road means reduced accidents in addition to lower liability claims
Being married can lower prices – Having a spouse actually saves money compared to being single. Marriage usually means you are more mature than a single person and it’s statistically proven that drivers who are married are more cautious.
Claims statistics for a BMW X3 – Insurance companies study historical loss data when they calculate premium prices for each model. Models that the statistics show to have a higher amount or frequency of claims will cost more for coverage.
The table below illustrates the historical insurance loss data for BMW X3 vehicles. For each insurance policy coverage type, the loss probability for all vehicles averaged together is considered to be 100. Numbers that are below 100 suggest losses that are better than average, while values that are above 100 point to more claims or tendency to have larger claims.
Insurance Loss Ratings for BMW X3 Vehicles
|Specific BMW Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|BMW X3 4dr 2WD||122||99|
|BMW X3 4dr 4WD||109||93||117||69||64||76|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When price shopping your coverage, more quotes will enable you to find the best offered rates. Not every company does price estimates online, so it’s necessary to compare price estimates from those companies as well.
The providers in the list below are ready to provide quotes in Washington. If multiple companies are shown, we suggest you visit as many as you can to find the most competitive car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|X3 3.0I xDrive AWD 4-Dr||$306||$702||$384||$22||$114||$1,528||$127|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Washington minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Prices do not factor in garaging location in Seattle which can alter price quotes considerably.
Violations and accidents raise rates
The chart below illustrates how violations and fender-benders can impact BMW X3 car insurance costs for different age groups of insureds. The premiums assume a married male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
Do you need full coverage?
The diagram below visualizes the comparison of BMW X3 yearly insurance costs with full physical damage coverage compared to only buying liability only. Data assumes no violations or accidents, $500 deductibles, married male driver, and no discounts are applied.
When to buy liability coverage only
There is no written rule for excluding physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s say your BMW X3 settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, you would only receive $5,000 after paying your policy deductible. If you are paying in excess of $500 a year for comprehensive and collision coverage, then it might be time to buy liability only.
There are some circumstances where buying only liability insurance is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.
Auto insurance advertisements
Big name companies like State Farm and Allstate regularly use television and radio advertisements. All the ads try to convey promises that drivers can save some big amount if you change your policy. How can each company give you a better price on BMW X3 insurance in Seattle? This is the way they can do it.
Companies offer their best rates for the type of driver that earns them a profit. An example of a driver they prefer may need to be over age 30, has no driving citations, and drives a vehicle with a low ISO rating. Any customer that hits that “sweet spot” gets the lowest premium rates and most likely will cut their BMW X3 insurance rates if they switch.
Potential customers who do not fit these criteria will have to pay higher rates which results in the customer buying from someone else. Company advertisements say “drivers who switch” not “everybody who quotes” can save as much as they claim. This is how insurance companies can make claims that they all have the best premium rates. Because of this risk profiling, you really need to get Seattle auto insurance quotes from several different companies. It is impossible to guess with any certainty which company will have better car insurance rates than you’re paying now.
Car insurance is not optional in Washington
Despite the high cost of buying insurance for a BMW X3 in Seattle, car insurance may not be optional for several reasons.
- Just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection in order to drive the car legally. In Washington 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 took out a loan on your vehicle, more than likely the lender will force you to have insurance to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may insure your BMW at a much higher rate and require you to pay a much higher amount than you were paying before.
- Car insurance preserves both your assets and your BMW. It will also pay for medical bills for both you and anyone you injure as the result of an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than cancel out the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is wasting up to $830 a year so we recommend shopping around once a year at a minimum to help ensure money is not being wasted.
Save a ton on BMW X3 insurance in Seattle with these discounts
Buying car insurance is not cheap, but you might already qualify for some discounts that could help you make your next renewal payment. Some discounts apply automatically at the time of quoting, but some discounts are required to be requested specifically prior to getting the savings.
- New Car Discount – Insuring a new X3 can save up to 30% due to better safety requirements for new model year vehicles.
- Driver Education Discount – Make teen driver coverage more affordable by requiring them to successfully take a driver’s education course in school.
- Discount for Multiple Policies – If you insure your home and vehicles with the same company you may save approximately 10% to 15%.
- Defensive Driver – Successfully completing a defensive driving class could earn you a small percentage discount and easily recoup the cost of the course.
- Theft Prevention System – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
It’s important to note that some credits don’t apply to the entire cost. Most only reduce individual premiums such as medical payments or collision. Despite the fact that it seems like it’s possible to get free car insurance, you aren’t that lucky.
Car insurance companies that may offer most of the discounts above possibly include:
Double check with every prospective company which discounts can lower your rates. Depending on the company, some discounts might not be available to policyholders in Seattle. If you would like to choose from a list of insurance companies that can offer you the previously mentioned discounts in Seattle, click here to view.
When to get advice from an insurance agency
A small number of people just want to talk to a local agent and that is recommended in a lot of cases A good thing about comparing rate quotes online is the fact that you can find lower rates and still buy from a local agent.
For easy comparison, once you complete this short form, your insurance coverage information is sent to insurance agents in Seattle that provide free Seattle auto insurance quotes to get your business. You don’t have to find an agent since rate quotes are delivered immediately to your email address. You can get cheaper car insurance rates without a big time investment. If you have a need to compare rates from a specific insurance company, you can always find their quoting web page and fill out the quote form the provide.
Selecting a company requires you to look at more than just the premium amount. You should also get answers to these questions.
- How would your car be valued if totalled?
- Are there any extra charges for paying monthly?
- Are all drivers listed on the coverage quote?
- Does the agent recommend any additional coverage?
- How are they compensated?
- Will the company cover a rental car if your car is getting fixed?
- Does their agency support local causes in Seattle?
- Are they in the agency full-time?
Below is a list of insurers in Seattle that may be willing to give price quotes for BMW X3 insurance in Seattle.
What is the best car insurance coverage?
When it comes to buying proper insurance coverage for your personal vehicles, there is no one size fits all plan. Your financial needs are unique.
For instance, these questions may help you determine if your situation may require specific advice.
- Is there coverage for my trailer?
- I don’t drive much so do I pay less?
- Which companies will insure me after a DUI?
- Is borrowed equipment or tools covered if stolen or damaged?
- Am I covered if I hit my neighbor’s mailbox?
- Are split liability limits better than a combined single limit?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form.
Be persistent to save money
Insureds switch companies for many reasons like poor customer service, delays in paying claims, being labeled a high risk driver and even policy non-renewal. It doesn’t matter what your reason, switching auto insurance companies can be pretty painless.
Lower-priced BMW X3 insurance in Seattle is attainable both online and with local Seattle insurance agents, so you need to shop Seattle auto insurance with both to have the best chance of lowering rates. Some insurance providers may not provide online rate quotes and many times these smaller companies sell through independent insurance agents.
When buying insurance coverage, make sure you don’t skimp on critical coverages to save a buck or two. There have been many situations where someone sacrificed comprehensive coverage or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to find the BEST coverage for the lowest price while still protecting your assets.
To read more, feel free to browse the resources below:
- Winter Driving (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a Jeep Grand Cherokee in Seattle? (FAQ)
- Who Has the Cheapest Auto Insurance for a Nissan Sentra in Seattle? (FAQ)
- Who Has Cheap Seattle Auto Insurance for Inexperienced Drivers? (FAQ)
- Understanding Limits and Deductibles (Allstate)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)