Compare BMW Z4 Insurance Rates in Durham

The best way to find more affordable BMW Z4 insurance is to compare prices once a year from companies in Durham.

Step 1: Try to learn about individual coverages and the things you can control to drop your rates. Many factors that drive up the price like your driving record and a negative credit score can be remedied by being financially responsible and driving safely.

Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or Allstate, while independent agents can provide rate quotes for many different companies. Compare rates now

Step 3: Compare the new rate quotes to your existing policy to see if cheaper Z4 coverage is available in Durham. If you can save some money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.

One bit of advice is to try to compare identical deductibles and limits on each quote request and and to get rates from as many different companies as possible. Doing this helps ensure a fair rate comparison and a good representation of prices.

It’s an obvious conclusion that auto insurance companies want to keep you from shopping around. People who shop around for a cheaper policy will most likely move their business because of the good chance of finding a lower rate. A recent survey found that people who routinely shopped around saved on average $3,450 over four years compared to those who never shopped around for cheaper prices.

If saving money on BMW Z4 insurance is your goal, then having an understanding of how to find and compare coverage rates can make it simple to find affordable coverage.

What Affects BMW Z4 Insurance Rates?

Smart consumers have a good feel for some of the elements that help determine insurance rates. If you have a feel for what controls the rates you pay, this enables informed choices that will entitle you to lower premium levels.

Shown below are most of the major factors companies use to determine your rates.

• Liability is peace of mind – A critical coverage on your policy, liability insurance kicks in if ever you are found to be at fault for physical damage or personal injury to other. It will provide legal defense coverage up to the limits shown on your policy. It is affordable coverage compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
• Uninterrupted coverage lowers insurance rates – Not having insurance is not a good idea and any future policy may cost more because you let your coverage lapse. Not only will you pay more, being ticketed for driving with no insurance could earn you a license revocation or jail time.
• Get married and get better premiums – Getting married may earn you lower rates when buying insurance. Having a significant other means you’re less irresponsible and statistics show married drivers tend to file fewer claims.

• Type of vehicle determines base prices – The make and model of the car you drive makes a big difference in your car insurance bill. The most favorable rates are usually for smaller low performance passenger vehicles, but many other things help determine your insurance rates.

  The following chart assumes a single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. It compares BMW Z4 policy rates compared to other makes and models that have different risk factors.

• Rates can drop if you have more than one policy – Most larger insurers apply discounts to buyers who consolidate policies with them such as combining an auto and homeowners policy. The discount can add up to ten or even fifteen percent. Even with this discount, drivers will still want to check prices from other companies to confirm you are receiving the best rates possible. You may still save more without the discount even if you insure with multiple companies
• Occupation can influence rates – Did you know your job can affect your rates? Occupations such as doctors, architects, and financial analysts generally pay higher average rates because of high stress levels and lots of time spent at work. On the flip side, careers such as scientists, students and retirees receive lower rates.

• Insurance loss probability for a BMW Z4 – Insurance companies use statistical claims data to help set a rate to offset losses. Vehicles that the statistics show to have a trend towards higher claims will have higher rates.

  The table below demonstrates the insurance loss data used by companies for BMW Z4 vehicles. For each policy coverage, the claim probability for all vehicles, regardless of make or model, equals 100. Numbers shown that are under 100 indicate better than average losses, while percentages above 100 indicate frequent claims or an increased chance of a larger loss.

  
  

  Insurance Loss Ratings for BMW Z4 Vehicles

  Make and 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

How much is BMW Z4 insurance in Durham?

Finding a better price on auto insurance is not rocket science. You just have to invest a little time comparing rate quotes to find the company with affordable BMW Z4 insurance quotes.

The following companies provide free quotes in Durham, NC. To locate cheap car insurance in Durham, we recommend you visit two to three different companies to get a more complete price comparison.

BMW Z4 coverage analysis

The coverage information displayed below highlights different coverage prices for BMW Z4 models. Understanding more about how insurance prices are determined is important for you to make decisions when choosing a new policy provider.

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Premium costs do not factor in Durham location which can raise or lower premium rates noticeably.

Auto insurance deductibles

When shopping for auto insurance, a common question is how low should you set your deductibles. The following tables highlight the differences in price when you select higher and lower policy deductibles. The first table uses a $250 physical damage deductible and the second rate chart uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Table data does not factor in your specific Durham location which can impact coverage rates considerably.

Based on this data, using a $250 deductible will cost you about $13 more each month or $156 each year than buying the higher $500 deductible. Because you would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you usually have more than 19 months between claims, you would more than likely save some money if you decide on a higher deductible. Here is an example of how we made this calculation.

How accidents and tickets impact rates

The information below highlights how speeding tickets and accidents can influence BMW Z4 car insurance costs for different age categories. The premiums assume a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.

BMW Z4 insurance premiums by gender and age

The information below compares BMW Z4 yearly insurance costs for male and female drivers. The data assumes no violations or claims, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no discounts are applied to the premium.

Full coverage rates vs. liability-only

The illustration below shows the comparison of BMW Z4 yearly insurance costs with liability coverage only compared to full coverage. The price estimates are based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are taken into consideration.

Should you pay for full coverage?

There is no clear-cut rule that is best for determining when to drop full coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your BMW Z4 replacement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after the deductible is paid. If you are paying in excess of $700 annually for physical damage coverage, then you may want to consider only buying liability coverage.

There are some circumstances where only buying liability is not advised. If you haven’t paid off your loan, you have to keep full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Why you need quality insurance for your vehicle

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

• Just about all states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to drive the car. In North Carolina 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 you have a loan on your vehicle, most lenders will make it mandatory that you have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may insure your BMW at an extremely high rate and require you to reimburse them the higher price.
• Auto insurance protects both your BMW and your assets. Insurance will pay for all forms of medical expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also covers legal expenses if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of carrying enough insurance are without a doubt worth the cost, especially when you need to use it. In a recent study of 1,000 drivers, the average customer is overpaying over $865 each year so we recommend shopping around at every renewal to be sure current rates are still competitive.

Affordable rates by taking advantage of discounts

Companies do not list their entire list of discounts in a way that’s easy to find, so the list below gives a summary of both well-publicized in addition to some of the lesser obvious insurance savings. If you do not double check each discount possible, you are paying more than you should be.

• Drivers Education – Reduce the cost of insurance for teen drivers by having them take driver’s ed class as it can save substantially.
• Passive Restraint Discount – Factory options such as air bags or automatic seat belts could see savings of 20% or more.
• Smart Student Discounts – Excelling in school may save you up to 25%. This discount can apply up to age 25.
• Safe Driver Discount – Drivers who don’t get into accidents may save up to 50% more as compared to drivers with claims.
• Professional Memberships – Participating in a civic or occupational organization in Durham could trigger savings on insurance.
• Multi-car Discount – Drivers who insure multiple cars or trucks on one policy can reduce rates for all insured vehicles.

It’s important to note that most discount credits are not given to the overall cost of the policy. Most only apply to the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that it’s possible to get free car insurance, it’s just not the way it works.

The information below shows the difference between BMW Z4 insurance rates with and without discounts being applied to the rates. The premiums are based on a female driver, no claims, a clean driving record, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, marriage, multi-car, and homeowner discounts applied.

Insurance companies that may include most of the discounts above possibly include:

• State Farm
• American Family
• AAA
• GEICO
• Mercury Insurance
• Farmers Insurance
• Progressive

If you need low cost Durham car insurance quotes, ask all companies you are considering to give you their best rates. A few discounts may not apply to policies in Durham.

Are car insurance agents of importance?

Many people still like to talk to a local agent and that is a smart decision Most agents can help determine the best coverages and will help you if you have claims. One of the best bonuses of getting free rate quotes online is you can get the lowest rates and still have a local agent.

After completing this form (opens in new window), the coverage information is instantly submitted to agents in your area who will give you bids to get your business. There is no need to leave your computer as quotes are delivered to you directly. In the event you want to get a price quote from a specific company, just jump over to their website and give them your coverage information.

Deciding on an insurance company requires you to look at more than just a cheap price. The answers to these questions are important, too.

• Do they reduce claim amounts on high mileage vehicles?
• Do you have coverage for a rental car if your vehicle is in the repair shop?
• Do they offer claims assistance after hours?
• Where are claims handled?
• Do they have a Better Business Bureau rating in Durham?
• How much experience to they have in personal lines coverages?
• What discounts might you be missing?

The different types of car insurance agents

When finding local Durham agents, you need to know there are two different agency structures and how they operate. Agents in Durham are classified as either exclusive or independent (non-exclusive). Either one can sell auto insurance policies, but it’s a good idea to understand why they differ since it can impact buying decisions.

Exclusive Auto Insurance Agencies

These agents can only provide pricing for a single company such as State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide prices from multiple companies so they really need to provide good service. They are very knowledgeable on what they offer and that allows them to sell at a higher price point. Consumers often purchase coverage from exclusives mainly due to the brand legacy rather than having low rates.

The following are Durham exclusive insurance agencies that can give you rate quotes.

• Nationwide Insurance: Andrew F Jones
  5242 Roxboro Rd Ste C – Durham, NC 27712 – (919) 477-7666 – View Map
• Allstate Insurance Agent: Tae Kim
  4837 Hwy Nc 55 10B – Durham, NC 27713 – (919) 560-9000 – View Map
• Nationwide Insurance: M A Mansour
  1209 University Dr – Durham, NC 27705 – (919) 797-0135 – View Map

View more Durham agents

Independent Auto Insurance Agents

Independent agents are normally appointed by many insurers and that enables them to quote your coverage with a variety of different insurance companies and find you cheaper rates. If you are not satisfied with one company, your policy is moved internally without you having to go to a different agency.

If you need cheaper auto insurance rates, you definitely need to get insurance quotes from independent agents to ensure the widest selection of prices. They often place coverage with smaller regional carriers which can be an advantage.

The following are Durham independent insurance agencies that are able to give rate quotes.

• The Sorgi Insurance Agency
  16 Consultant Pl Suite 102 – Durham, NC 27707 – (919) 682-4814 – View Map
• Bowen Agency, Inc.
  4905 Pine Cone Dr Suite 5 – Durham, NC 27707 – (919) 929-4222 – View Map
• Herring and Bickers Insurance
  2344 Operations Dr Suite 101 – Durham, NC 27705 – (919) 479-9900 – View Map

View more Durham agents

Best car insurance in Durham

Ending up with the right car insurance company is difficult considering how many different insurance companies sell coverage in Durham. The ranking data listed below may help you pick which auto insurers you want to consider purchasing coverage from.

Top 10 Durham Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. AAA Insurance
4. Nationwide
5. Safeco Insurance
6. Progressive
7. State Farm
8. The Hartford
9. The General
10. Esurance

Be persistent and save

Throughout this article, we presented a lot of ways to shop for BMW Z4 insurance online. The key thing to remember is the more companies you get auto insurance rates for, the higher the chance of saving money. You may even discover the biggest savings come from a smaller regional carrier.

As you go through the steps to switch your coverage, do not sacrifice coverage to reduce premiums. There are too many instances where an insured dropped full coverage only to find out that it was a big error on their part. Your objective should be to purchase plenty of coverage for the lowest price, but do not sacrifice coverage to save money.

Cheaper car insurance in Durham can be bought both online in addition to many Durham insurance agents, so you should compare both to get a complete price analysis. Some insurance companies do not offer price quotes online and usually these small, regional companies prefer to sell through local independent agencies.

For more information, feel free to visit these articles:

• What is Covered by GAP Insurance? (Allstate)
• Who Has the Cheapest Auto Insurance for a Dodge Ram in Durham? (FAQ)
• Who Has Affordable Auto Insurance Rates for a Hyundai Santa Fe in Durham? (FAQ)
• Frontal Crash Tests (iihs.org)
• Determining Auto Insurance Rates (GEICO)
• Five Mistakes to Avoid (Insurance Information Institute)