Amazingly, a recent NerdWallet.com study showed that the vast majority of consumers in Florida have remained with the same auto insurance company for well over three years, and just under half have never even shopped around for lower-cost coverage. Consumers in the United States could save 47% every year just by getting comparison quotes, but they just assume it takes a lot of time to find lower-cost auto insurance rates.
It takes a few minutes, but the best way to get budget BMW 328i insurance in Miami is to do a yearly price comparison from providers in Florida. You can shop around by following these steps.
Step 1: Gain an understanding of individual coverages and the changes you can make to keep rates low. Many things that are responsible for high rates such as accidents, careless driving, and a less-than-favorable credit rating can be amended by making lifestyle changes or driving safer.
Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like Progressive and State Farm, while independent agents can provide rate quotes from multiple sources. View insurance agents
Step 3: Compare the new quotes to your current policy premium to see if a cheaper price is available. If you find a lower rate quote and change companies, verify that coverage does not lapse between policies.
Step 4: Notify your current company of your intent to cancel your current coverage and submit payment and a signed application to the new company. Once the paperwork is finalized, place your new certificate of insurance in an accessible location in your vehicle.
An important part of this process is to use the same liability limits and deductibles on each quote and and to get price estimates from as many auto insurance providers as possible. This provides a level playing field and plenty of rates choose from.
To get cheaper Miami auto insurance quotes, there a variety of ways to compare prices from all the different companies. One of the best ways to find affordable BMW 328i insurance rates is simply to get online rate quotes.
Comparing free rates online is easy and it, replaces the need to go to insurance agents’ offices. Shopping for auto insurance online has made agencies unnecessary unless you’re the type of person who wants the professional guidance that only an agent can give. You can, however, get prices online but buy from a local insurance agent. When price shopping your coverage, comparing a wide range of rates helps improve the odds of finding a lower rate than you’re paying now.
The companies shown below are our best choices to provide free quotes in Florida. To buy the best auto insurance in FL, we suggest you visit several of them to get the most competitive price.
Why you need 328i insurance in Florida
Despite the potentially high cost of BMW 328i insurance, buying auto insurance serves several important purposes.
- Almost all states have compulsory liability insurance requirements which means you are required to carry specific limits of liability protection in order to license the vehicle. 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 you have a lien on your vehicle, it’s guaranteed your bank will make it a condition of the loan that you have full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender may insure your BMW at an extremely high rate and require you to pay for the expensive policy.
- Auto insurance preserves both your assets and your car. It will also cover medical transport and hospital expenses for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having insurance are without a doubt worth the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver overpays as much as $700 annually so it’s very important to do a rate comparison at least once a year to be sure current rates are still competitive.
Rates and other information
The price information displayed next outlines estimates of insurance coverage prices for BMW 328i models. Having insight into how auto insurance premiums are formulated can help you make smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 328I 4-Dr Sedan | $312 | $660 | $472 | $28 | $142 | $1,614 | $135 |
| 328I 4-Dr Sedan | $312 | $660 | $472 | $28 | $142 | $1,614 | $135 |
| 328I Station Wagon | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| 328I 2-Dr Coupe | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| 328I 2-Dr Coupe | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| 328I xDrive 4-Dr Sedan | $348 | $758 | $472 | $28 | $142 | $1,748 | $146 |
| 328I xDrive 4-Dr Sedan | $348 | $758 | $472 | $28 | $142 | $1,748 | $146 |
| 328I 2-Dr Convertible | $348 | $758 | $472 | $28 | $142 | $1,748 | $146 |
| 328I 2-Dr Convertible | $348 | $758 | $472 | $28 | $142 | $1,748 | $146 |
| 328I 2-Dr Coupe | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| 328I xDrive 2-Dr Coupe | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| 328I xDrive Station Wagon | $348 | $758 | $400 | $24 | $120 | $1,650 | $138 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Premium costs do not factor in specific zip code location which can revise insurance rates substantially.
The illustration below highlights how deductible choice and can affect BMW 328i annual premium costs for different ages of insureds. The premiums are based on a single female driver, comp and collision included, and no other discounts are factored in.
How accidents and violations affect rates
The chart below illustrates how violations and fender-benders drive up BMW 328i car insurance rates for different insured age categories. The premiums assume a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
Difference between liability only and full coverage rates
The chart below shows the difference between BMW 328i annual premium costs with full coverage and liability only. The premiums are based on no claims, a clean driving record, $100 deductibles, drivers are single, and no additional discounts are factored in.
Should you be buying full coverage?
There is no written rule of when to eliminate physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s say your BMW 328i replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after the deductible is paid. If you are currently paying more than $400 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.
There are some scenarios where dropping full coverage is not advised. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Do you qualify for discounts on BMW 328i insurance in Miami?
Some companies don’t always list every available discount very clearly, so the following list contains both well-publicized in addition to some of the lesser obvious discounts you could be receiving when you buy Miami auto insurance online. If you do not double check each discount possible, you could be saving more on your car insurance.
- Drivers Education – Teen drivers should enroll in driver’s education in high school.
- Data Collection Discounts – Insureds who allow companies to look at driving manner by using a telematics device in their vehicle like Allstate’s Drivewise may get a rate reduction if they are good drivers.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn lower rates if you buy auto and life insurance together.
- Discounts for Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 15% off PIP or medical payments premium.
- Good Student Discount – Maintaining excellent grades can save 20 to 25%. You can use this discount normally until age 25.
A quick disclaimer, some credits don’t apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So even though you would think you would end up receiving a 100% discount, nobody gets a free ride.
The chart below compares BMW 328i insurance costs with and without discounts. The information is based on a male driver, no claims, a clean driving record, Florida state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, safe-driver, multi-policy, homeowner, and claim-free discounts applied.
For a list of insurance companies that offer the discounts shown above in Miami, click here.