How many years has it been since you compared lower-priced BMW X1 insurance in Norfolk? Are you kicking yourself for buying an expensive car insurance policy? Believe me when I say there are many Norfolk consumers feeling the pinch from expensive car insurance.
Amazingly, a recent NerdWallet.com study showed that nearly 70% of customers have bought car insurance from the same company for four years or more, and approximately 40% of consumers have never shopped around. Norfolk insurance shoppers can save roughly 45% each year by just comparing quotes, but they feel it's too difficult to compare rates and save money. Insurance companies such as State Farm, Farmers Insurance, GEICO and Allstate increase brand awareness with TV and radio ads and it is difficult to sift through the bull and take the time to shop coverage around.
If you are insured now or just want a better rate, take advantage of these tips to reduce the price you pay and still get good coverage. Locating the best rates in Norfolk is actually very simple if you learn how to start. You just have to understand the quickest way to compare rates from multiple carriers.
Companies offering competitive BMW X1 rates in Norfolk, VA
The providers in the list below have been selected to offer price comparisons in Norfolk, VA. If several companies are displayed, we suggest you get rates from several of them to find the lowest car insurance rates.
Discounts can help save money on BMW X1 insurance in Norfolk
Not too many consumers would say car insurance is affordable, but you may qualify for discounts that may help make it more affordable. Certain credits will be shown at the time of quoting, but a few must be inquired about before you will receive the discount.
- Low Mileage Discounts - Driving fewer miles can earn cheaper car insurance rates.
- Defensive Driving Course - Passing a defensive driver class may get you a small discount and easily pay for the cost of the class.
- Save with a New Car - Insuring a new X1 can get you a discount compared to insuring an older model.
- Sign Online - Certain companies will give you a small discount shop Norfolk car insurance on their website.
- Senior Citizen Rates - Drivers over the age of 55 can get a discount up to 10%.
- Active Military Service - Having a deployed family member could be rewarded with lower premium rates.
- Smart Student Discounts - A discount for being a good student can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.
- Payment Discounts - If you can afford to pay the entire bill rather than paying in monthly installments you can avoid monthly service charges.
- Life Insurance - If the company offers life insurance, you could get a small discount if you purchase life insurance.
- Claim-Free Discount - Insureds who avoid accidents and claims pay much less as compared to drivers who are more careless.
Just know that some credits don't apply to your bottom line cost. Most cut the cost of specific coverages such as comp or med pay. So when the math indicates adding up those discounts means a free policy, company stockholders wouldn't be very happy. Any amount of discount will definitely lower your overall bill.
A list of companies and the discounts they provide are shown below.
- State Farm policyholders can earn discounts including driver's education, good student, accident-free, multiple policy, and defensive driving training.
- GEICO offers discounts for air bags, five-year accident-free, seat belt use, membership and employees, emergency military deployment, and multi-vehicle.
- SAFECO may include discounts for homeowner, anti-theft, anti-lock brakes, multi-car, and bundle discounts.
- Farmers Insurance may offer discounts for pay in full, mature driver, electronic funds transfer, business and professional, and good student.
- AAA offers premium reductions for AAA membership discount, multi-policy, good student, multi-car, and good driver.
- USAA has discounts for multi-vehicle, military installation, good student, multi-policy, and defensive driver.
Double check with each company or agent to give you their best rates. Some discounts might not apply in your state. If you would like to choose from a list of providers with the best BMW X1 insurance discounts in Virginia, follow this link.
Learn How to Buy Insurance Cheaper
Part of the insurance buying process is learning the different types of things that help calculate insurance rates. When you know what positively or negatively controls the rates you pay, this empowers consumers to make smart changes that could result in big savings.
- Single vs. married - Being married may save some money when shopping for insurance. Having a spouse demonstrates that you tend to be more mature and it's statistically proven that married couples file fewer claims.
- Insurance rates and your job - Did you know that where you work can have an impact on rates? Jobs like military personnel, architects and stock brokers usually pay higher premiums than the average policyholder attributed to intense work situations and lots of time spent at work. Other occupations like scientists, historians and performers generally pay rates lower than average.
- Costs and your address - Choosing to live in less populated areas of the country can save you money when talking about insurance. People in densely populated areas tend to have much more traffic and higher rates of accident claims. Less people living in that area corresponds to lower accident rates as well as less vandalism and auto theft.
- Commute or pleasure use - The higher the mileage driven every year the more it will cost to insure it. Almost all companies charge to insure your cars based upon how you use the vehicle. Autos not used for work or commuting receive lower rates than cars that get driven a lot. An incorrectly rated X1 may be wasting your money. Double check that your policy properly reflects the correct usage.
- More performance means more cost - The make and model of the car or truck you are insuring makes a big difference in determining your rates. Since the BMW X1 is classified as a luxury crossover, insurance will be substantially more when compared to the average rates in Norfolk. Small economy passenger cars normally have pretty low rates, but the final cost of insurance is determined by many other factors.
- Pay more by driving carelessly - Having just one ticket may increase your cost forty percent or more. Careful drivers get better prices as compared to careless drivers. Drivers who get flagrant citations like DUI, reckless driving or excessive speeding may be required to submit a SR-22 or proof of financial responsibility with their state in order to legally drive.
- Teenagers vs. older drivers - Young drivers in Virginia tend to be less responsible behind the wheel and because of this, their insurance rates are much higher. Older drivers are shown to be more cautious, cause fewer claims and accidents, and are safer drivers.
- Avoid insurance policy lapses - Driving without insurance coverage in place is illegal and you may have a hard time finding new coverage because you let your insurance expire. Not only will you pay higher rates, the inability to provide proof of insurance might get you a revoked license or a big fine.
- Loss statistics for a BMW X1 - Companies use past loss statistics for each vehicle when they file their rates in each state. Vehicles that the statistics show to have higher claim amounts or frequency will cost more for coverage.
The table below illustrates the insurance loss data used by companies for BMW X1 vehicles. For each policy coverage, the loss probablilty for all vehiclescombined as an average equals 100. Percentages below 100 suggest a better than average loss history, while values that are above 100 point to more losses or statistically larger claims.
BMW X1 Insurance Loss Statistics
Specific BMW Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW X1 4dr 2WD 99 86 113 90 95 87 BMW X1 4dr 4WD 103 96 120 73 69 82
Statistics from IIHS.org for 2013-2015 Model Years
Neighborhood insurance agents
A lot of people would rather talk to an insurance agent and often times that is recommended Good agents can help you build your policy and will help you if you have claims. The best thing about comparing rate quotes online is the fact that you can find cheap auto insurance rates but still work with a licensed agent.
To help locate an agent, after submitting this simple form, your information is instantly submitted to local insurance agents who will give you quotes to get your business. It's much easier because you don't need to do any legwork because prices are sent to your email. If you wish to quote rates from a specific insurance company, you would need to jump over to their website and submit a quote form there.
Finding the right company requires you to look at more than just the premium amount. Below are some questions you should ask.
- Do they feel the quoted coverages are adequate?
- What discounts might you be missing?
- Where would glass claims be handled in Norfolk?
- Which members of your family are coverage by the policy?
- Do they prorate repair cost based on vehicle mileage?
If you want to use a reputable agency, it's helpful to know the types of agencies and how they differ in how they quote coverages. Agents are categorized either exclusive agents or independent agents. Either type can write policy coverage, but it's a good idea to understand the subtle differences because it may have an impact on which agent you choose.
Exclusive Insurance Agencies
Exclusive insurance agents can only quote rates from one company such as State Farm, Allstate, or Farmers Insurance. These agents are unable to provide rate quotes from other companies so keep that in mind. Exclusive insurance agents are trained well on their products and sales techniques and that allows them to sell at a higher price point.
The following is a short list of exclusive insurance agents in Norfolk that can give you price quote information.
These agents are not required to write business for one company so they have the ability to put coverage through lots of different companies and find the cheapest auto insurance rates. If they find a lower price, your policy is moved internally and you don't have to find a new agent.
When searching for an agent, you will definitely want to compare prices from a few independent agents so that you can do a thorough price comparison.
Shown below are Norfolk independent insurance agents who can help you get price quotes.
6330 N Center Dr # 200 - Norfolk, VA 23502 - (757) 466-1231 - View Map
Met Life Auto and Home Insurance
Norfolk, VA 23502 - Norfolk, VA 23502 - (757) 747-2381 - View Map
If you receive reasonable responses to these questions and an affordable coverage quote, you may have found an insurance agent that is reliable enough to properly insure your vehicles.
Is there deception in advertising?
Virginia drivers can't get away from ads that promise big savings for switching by companies like State Farm, GEICO and Progressive. They all convey the message of big savings if you switch your coverage.
It sounds good, but how can they all charge you less for auto insurance?
Car insurance companies have specific guidelines for the driver that earns them the most money. For example, a profitable insured could be between the ages of 30 and 50, is a homeowner, and drives less than 7,500 miles a year. Any customer that hits that "sweet spot" receives the best auto insurance rates in Norfolk and will most likely cut their rates substantially.
Insureds who don't qualify for the requirements may receive a more expensive rate and this results in business not being written. If you pay attention, the ads say "people who switch" not "everybody who quotes" save that kind of money. That is how insurance companies can advertise the savings. This illustrates why you really should get Norfolk car insurance quotes as often as possible. You cannot predict which car insurance company will have the best auto insurance rates at this point in time.
Lower rates by being persistent
We covered quite a bit of information on how to find affordable BMW X1 insurance in Norfolk. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest prices are with a lesser-known regional company. These companies can often insure niche markets at a lower cost as compared to the big name companies such as GEICO and State Farm.
As you go through the steps to switch your coverage, never buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your aim should be to purchase plenty of coverage at the best cost and still be able to protect your assets.
More learning opportunities
- Parking Tips to Reduce Door Dings (State Farm)
- How Much are Virginia Auto Insurance Quotes for Drivers Over Age 60? (FAQ)
- What Car Insurance is Cheapest in Newport News, Virginia? (FAQ)
- Who Has Cheap Auto Insurance for a Ford Escape in Virginia? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)