Cheap BMW Z4 Insurance in Phoenix

Finding cheaper BMW Z4 insurance in Phoenix may be hard for drivers who have little experience buying insurance online. With so many insurance agents and companies, it can quickly become a real difficult job to find better rates on BMW Z4 insurance.

A recent NerdWallet.com study revealed that most auto insurance policyholders renewed their policy with the same company for a minimum of four years, and approximately 40% of consumers have never compared rate quotes at all. Many drivers in Phoenix could save themselves $700 a year by just shopping around, but they don’t want to spend time to save money by comparing rate quotes.

Smart consumers take time to compare rates occasionally due to the fact that insurance rates are adjusted regularly by insurance companies. Even if you think you had the best premium rates on BMW Z4 insurance in Phoenix a couple years back there may be better deals available now. Forget anything you know (or think you know) about auto insurance because you’re about to find out the easiest way to find the best coverage while lowering your premiums.

If you have a policy now, you will surely be able to get lower rates using the concepts covered in this article. The goal of this article is to teach you a little about the most effective ways to compare rates and also pocket some savings But Arizona car owners should learn the methods companies use to determine prices and apply this information to your search.

When comparison shopping, there are several ways of comparing rates from companies that offer auto insurance in Arizona. The best method to comparison shop is to get quotes online. When quoting auto insurance, remember that quoting more helps increase your odds of locating more affordable insurance.

The providers in the list below can provide free rate quotes in Phoenix, AZ. If more than one company is shown, it’s highly recommended you visit two to three different companies to get a more complete price comparison.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Premium amounts do not factor in specific location which can raise or lower price quotes substantially.

Driving violations and accidents

The diagram below highlights how speeding tickets and at-fault claims increase BMW Z4 premium costs for different age categories. The information is based on a single female driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

Analysis of deductible levels

When shopping for auto insurance, a common question is where should you set your physical damage deductibles. The premium rates below outline the rate fluctuation between low and high insurance deductibles. The first rate comparisons uses a $100 comprehensive and collision deductible and the second price table uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium costs do not factor in Phoenix location which can increase or decrease premiums noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you roughly $27 more each month or $324 every year than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 15 months between claim filings, you would save money going with the higher deductible.

Get cheaper BMW Z4 insurance in Phoenix with discounts

Auto insurance companies do not advertise every discount they offer very clearly, so we researched a few of the more well known as well as some of the hidden credits available to lower your premiums when you buy Phoenix auto insurance online.

• Senior Citizen Rates – Older drivers could receive a small decrease in premiums.
• Full Payment Discount – If you pay your entire premium ahead of time rather than paying in monthly installments you may have a lower total premium amount.
• College Student – College-age children who are enrolled in higher education away from home and do not take a car to college could get you a discount.
• Defensive Driver – Successfully completing a safe driver course can save you 5% or more and easily recoup the cost of the course.
• Professional Organizations – Affiliation with qualifying employment or professional organizations could earn you a nice discount on your policy.
• Accident Forgiveness – Not really a discount, but some insurance companies will turn a blind eye to one accident without getting socked with a rate hike so long as you are claim-free prior to being involved in the accident.
• Policy Bundle Discount – When you combine your auto and homeowners insurance with one company you may save as much as 10 to 15 percent.

Don’t be surprised that most discount credits are not given to the entire policy premium. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. Just because it seems like having all the discounts means you get insurance for free, companies wouldn’t make money that way.

A list of companies and a selection of discounts can be found below.

• Farmers Insurance includes discounts for homeowner, electronic funds transfer, early shopping, good student, switch companies, mature driver, and youthful driver.
• Esurance may have discounts that include homeowner, good student, defensive driver, claim free, safety device, multi-policy, and DriveSense.
• State Farm has savings for student away at school, driver’s education, anti-theft, multiple autos, and accident-free.
• GEICO has discounts for anti-lock brakes, seat belt use, federal employee, membership and employees, and good student.
• Allstate may include discounts for eSmart discount, utility vehicle, senior citizen, good student, EZ pay plan discount, economy car, and anti-theft.

It’s a good idea to ask every prospective company to apply every possible discount. Savings might not be offered on policies everywhere. If you would like to view companies offering insurance discounts in Phoenix, click this link.

Insurance agent or online?

A small number of people would prefer to sit down with an agent and often times that is recommended The best thing about comparing rate quotes online is the fact that drivers can get the best rates and still buy from a local agent. Buying from neighborhood insurance agencies is definitely important in Phoenix.

After completing this quick form, the quote information is submitted to agents in your area that can provide free Phoenix auto insurance quotes for your coverage. There is no reason to search for an agent because prices are sent to you directly. You’ll get the best rates and work with a local agent. If you want to quote rates for a specific company, don’t hesitate to navigate to their website and fill out their quote form.

Finding a good company requires you to look at more than just a cheap price. These are some questions you should get answers to.

• Do they make recommendations based only on price?
• Do the companies they represent have a solid financial rating?
• Is there a 24/7 contact number?
• Is vehicle damage repaired with OEM or aftermarket parts?
• Where would glass claims be handled in Phoenix?
• Are they properly licensed to sell insurance in Arizona?
• Are there any extra charges for paying monthly?
• Does the agency have a positive business rating?

Smart Consumers Save Money

A large part of saving on insurance is knowing the different types of things that help determine the price you pay for insurance. When you know what positively or negatively positively or negatively impacts your premiums, this enables you to make decisions that can help you get lower premium levels.

Shown below are some of the factors used by companies to determine your prices.

• Safer occupants lowers insurance rates – Vehicles that have high safety ratings are cheaper to insure. Highly rated vehicles reduce occupant injuries and fewer serious injuries translates into fewer and smaller insurance claims and cheaper rates on your policy.
• Insurance is expensive for teenage drivers – Teenage drivers in Arizona have a tendency to be inattentive and easily distracted when driving with friends so they pay higher insurance rates. Adding a inexperienced driver onto a policy can break the bank. Older people have been proven to be more responsible, cause fewer claims and accidents, and are safer drivers.
• GPS tracking and theft deterrents lower premiums – Owning a car with a theft deterrent system can help lower your premiums. Advanced theft deterrents like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft and help lower rates.
• Employer stress can affect prices – Occupational choices like military generals, airline pilots, and stock brokers usually pay higher premiums than the average policyholder attributed to intense work requirements and lengthy work days. Other professions such as actors, students and the unemployed have the lowest average rates.
• Raise coverage deductibles and save – Physical damage protection, aka comp and collision, is used to repair damage to your vehicle. Some instances where coverage would apply are a broken windshield, hail damage, and windstorm damage. Comprehensive and collision coverage deductibles state the amount of money you are required to spend in the event of a claim. The more you are required to pay out-of-pocket, the bigger discount you will receive.
• Is your vehicle built for speed? – The performance level of the vehicle you are trying to find cheaper insurance for makes a big difference in the rate you pay. The most favorable rates are usually for economy passenger cars, but many other things help determine your insurance rates. Since the BMW Z4 falls in the luxury sports car class, insuring your vehicle will cost up to twice as much compared to average rates in Phoenix.
• Limits of liability insurance – The liability coverage on your policy will provide protection when a court rules you are at fault for causing personal injury or damage in an accident. This coverage provides legal defense coverage to defend your case. This coverage is relatively inexpensive compared to comp and collision, so drivers should buy more than the minimum limits required by law.
• Your address can affect price – Being located in areas with lower population may provide you with better prices if you are looking for the lowest rates. City drivers have to deal with congested traffic and longer commutes to work. Fewer drivers and short commutes means fewer accidents in addition to lower liability claims
• Insurance loss data for a BMW Z4 – Companies factor in historical loss data to help set a rate to offset losses. Models that statistically have higher prevalence or dollar amount of losses will have increased rates.

  The table below demonstrates the collected loss data for BMW Z4 vehicles. For each coverage category, the loss probability for all vehicles, regardless of make, model or trim level, equals 100. Values below 100 suggest a positive loss record, while percentage values above 100 indicate more frequent claims or tendency to have higher losses.

  Insurance Loss Ratings for BMW Z4 Vehicles

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  BMW Z4 Convertible	131	67	78

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Insurance is not optional in Arizona

Despite the high insurance cost for a BMW Z4 in Phoenix, maintaining insurance may be required and benefits you in several ways.

First, most states have mandatory insurance requirements which means you are required to carry a specific level of liability protection in order to drive the car. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you have a lien on your BMW Z4, most lenders will make it a condition of the loan that you have comprehensive coverage to ensure loan repayment if the vehicle is totalled. If the policy lapses, the bank or lender will purchase a policy for your BMW at a much higher premium rate and require you to pay for the expensive policy.

Third, insurance protects not only your BMW Z4 but also your assets. It also can pay for medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to repair the damage.

The benefits of carrying adequate insurance definitely exceed the cost, specifically if you ever have a liability claim. An average driver in America is wasting up to $825 a year so it’s important to compare rates each time the policy renews to ensure rates are competitive.

Compare but don’t skimp

When searching for affordable Phoenix auto insurance quotes, it’s a bad idea to buy less coverage just to save a little money. There are many occasions where consumers will sacrifice physical damage coverage only to find out that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy the best coverage you can find for the lowest cost while not skimping on critical coverages.

Consumers who switch companies do it for a variety of reasons including lack of trust in their agent, questionable increases in premium, extreme rates for teen drivers and even policy non-renewal. It doesn’t matter why you want to switch choosing a new insurance company can be easy and end up saving you some money.

Cheaper BMW Z4 insurance in Phoenix can be found on the web and with local Phoenix insurance agents, so you need to shop Phoenix auto insurance with both in order to have the best chance of saving money. Some insurance providers do not provide the ability to get quotes online and most of the time these small insurance companies prefer to sell through local independent agencies.

To read more, feel free to visit the following helpful articles:

• Vehicle Insurance in the U.S. (Wikipedia)
• Who Has the Cheapest Car Insurance Quotes for Unemployed Drivers in Phoenix? (FAQ)
• What Insurance is Cheapest for Infrequent Drivers in Phoenix? (FAQ)
• How Much is Phoenix Auto Insurance for Drivers with a DUI? (FAQ)
• What Auto Insurance is Cheapest for Teenage Females in Phoenix? (FAQ)
• Who Has the Cheapest Car Insurance Rates for Teenage Males in Phoenix? (FAQ)
• Determing Auto Insurance Rates (GEICO)
• Protecting Teens from Drunk Driving (Insurance Information Institute)