Cheapest BMW X3 Insurance in Lubbock

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Insurance rates BMW X3 in LubbockWant lower-priced insurance rates in Lubbock, TX? Lubbock consumers have many options when looking for the lowest priced BMW X3 insurance. You can either waste hours contacting agents to get rate comparisons or utilize the internet to compare rates. There is a better way to compare insurance rates so you're going to learn the quickest way to compare rates on a BMW and obtain the cheapest rates from Lubbock insurance agents and online providers.

If you have coverage now or just want cheaper coverage, use these money-saving tips to find the best rates and possibly find even better coverage. The purpose of this post is to introduce you to how auto insurance companies operate and how you can save the most money. Smart buyers just need to understand the most efficient way to compare company rates from many different companies.

Smart Consumers Can Reduce Insurance Rates

Many different elements are part of the calculation when quoting car insurance. Some factors are common sense such as your driving record, but other factors are more transparent like your continuous coverage or your commute time.

  • Safer vehicles save money - Cars with high safety ratings tend to have lower insurance rates. These vehicles protect occupants better and fewer serious injuries means less claims paid and cheaper rates on your policy.
  • When should you file insurance claims? - Companies in Texas award cheaper rates to policyholders who are not frequent claim filers. If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Insurance coverage is intended for claims that pose a financial burden.
  • High premiums for youthful drivers - More experienced drivers are shown to be more cautious, tend to cause fewer accidents, and tend to be get fewer driving tickets. Youthful drivers are proven to be inattentive when at the wheel of a vehicle so auto insurance rates are higher.

    The chart below is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.

  • Deter vehicle theft - Owning a car with a theft deterrent system can save you some money. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all help stop auto theft.
  • Job can influence prices - Did you know your job can affect your rates? Jobs such as fire fighters, police officers, and financial analysts generally have higher premium rates due to job stress and long work hours. Other careers such as actors, athletes and homemakers have the lowest average rates.
  • Never let your policy expire - Having a gap between insurance policy dates is a guaranteed way to pay more for auto insurance. In addition to paying higher rates, being ticketed for driving with no insurance can result in a revoked license or a big fine.
  • More traffic equals higher premiums - Being located in a small town has definite advantages when buying auto insurance. Drivers who live in large cities regularly have more aggressive driving styles and more time behind the wheel. Fewer drivers on the road means fewer accidents and also fewer theft and vandalism claims.
  • Better credit means lower premiums - Credit history can be an important factor in calculating your auto insurance rates. Therefore, if your credit rating leaves room for improvement, you may save money insuring your BMW X3 by improving your rating. Insureds that have good credit tend to be less risk to insure than drivers who have lower ratings.
  • Insurance losses for a BMW X3 - Auto insurance companies include the past claim trends for vehicles when setting rates for each model. Vehicles that have high amounts or severity of claims will cost more to insure.

    The table shown below demonstrates the loss history for BMW X3 vehicles. For each coverage type, the loss probability for all vehicles compiled together is represented as 100. Percentages below 100 suggest a positive loss record, while numbers above 100 indicate higher probability of having a loss or an increased probability of a larger loss.

    Insurance Loss Ratings for BMW X3 Vehicles
    Vehicle 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

Cutting your insurance rates is a great way to save money. Consumers just need to spend a few minutes on the computer to compare rate quotes to find the company with cheaper Lubbock car insurance quotes.

The companies in the list below can provide quotes in Texas. To get the best auto insurance in Lubbock, we recommend you compare several of them to get the most competitive price.

Analysis of coverages

The premium information displayed next highlights detailed analysis of rate quotes for BMW X3 models. Understanding more about how car insurance premiums are calculated helps drivers make smart choices when purchasing an insurance policy.

BMW X3 Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $208 $390 $392 $24 $118 $1,132 $94
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Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Table data does not factor in specific Lubbock garaging location which can lower or raise premiums substantially.

An analysis of deductible level

One frequently asked question is which deductible level should you buy. The following insurance rates can help illustrate the differences in premium rates of buying low and high physical damage deductibles. The first set of prices uses a $100 comprehensive and collision deductible and the second data table uses a $1,000 deductible.

BMW X3 insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $412 $804 $382 $22 $114 $1,759 $147
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BMW X3 insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $228 $424 $382 $22 $114 $1,170 $98
Get Your Own Custom Quote Go

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Estimates do not factor in your specific Lubbock location which can increase or decrease premiums significantly.

We can derive from the above data that using a $100 deductible could cost the average driver approximately $49 more each month or $588 annually across all BMW X3 models than buying the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 18 months between claims, you would probably come out ahead if you elect the higher deductible.

Insurance rate increases from tickets or accidents

The diagram below highlights how speeding tickets and accident claims can drive up BMW X3 insurance rates for each age group. Data assumes a married female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.

BMW X3 insurance costs by gender and age in Lubbock

The diagram below shows the comparison of BMW X3 insurance costs for male and female drivers. Data assumes no claims or driving citations, comprehensive and collision coverage, $500 deductibles, single marital status, and no other discounts are factored in.

Should you buy full coverage?

The illustration below illustrates the comparison of BMW X3 yearly insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no tickets, no at-fault accidents, $1,000 deductibles, single status, and no policy discounts are applied.

When to eliminate full coverage

There is no clear-cut rule of when to drop physical damage insurance, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let's assume your BMW X3 replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $7,000 after the policy deductible has been paid. If premium cost is more than $700 a year for your policy with full coverage, then it could be time to drop full coverage.

There are a few cases where eliminating full coverage is not a good idea. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not opt for liability only.

Buying the right vehicle insurance in Texas is an important decision

Even though it's not necessarily cheap to insure a BMW in Lubbock, insurance is required by state law in Texas and it also provides benefits you may not be aware of.

  • Almost all states have mandatory insurance requirements which means the state requires a specific level of liability insurance if you want to drive legally. In Texas 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 bought your BMW X3 with a loan, almost all lenders will have a requirement that you carry insurance to guarantee payment of the loan. If coverage lapses or is canceled, the lender will be forced to insure your BMW at an extremely high rate and require you to reimburse them a much higher amount than you were paying before.
  • Insurance safeguards both your assets and your vehicle. It will also pay for many types of medical costs that are the result of an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, your auto insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car outweigh the cost, especially with large liability claims. But the average driver in Texas is wasting up to $850 per year so compare rate quotes each time the policy renews to make sure the price is not too high.

Don't neglect these discounts on BMW X3 insurance in Lubbock

Insurance can cost an arm and a leg, but there's a good chance there are discounts that you may not know about. Many of these discounts will be applied automatically when you get a quote, but once in a while a discount must be asked about prior to receiving the credit.Auto insurance discounts

  • Passive Restraint Discount - Vehicles with factory air bags or motorized seat belts may get savings of 25 to 30%.
  • Save over 55 - Drivers over the age of 55 could receive lower premium rates.
  • Anti-lock Brakes - Vehicles equipped with ABS or steering control can avoid accidents so you can save 10 percent or more.
  • No Claim Discounts - Insureds who avoid accidents and claims get the best auto insurance rates compared to frequent claim filers.
  • Student Discounts - Performing well in school can save 20 to 25%. Many companies even apply the discount to college students up to age 25.

A little disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Some only reduce the cost of specific coverages such as liability, collision or medical payments. So despite the fact that it appears it's possible to get free car insurance, insurance companies wouldn't stay in business.

The illustration below shows the comparison of BMW X3 yearly insurance costs with and without discounts applied. The rate quotes are based on a female driver, no driving violations, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, marriage, homeowner, and multi-car discounts applied.

A list of companies and a summarized list of policyholder discounts are shown below.

  • AAA has discounts for pay-in-full, anti-theft, good student, AAA membership discount, multi-car, education and occupation, and multi-policy.
  • Progressive has savings for multi-policy, good student, multi-vehicle, online signing, continuous coverage, and online quote discount.
  • State Farm offers premium reductions for anti-theft, defensive driving training, good student, driver's education, and student away at school.
  • Esurance offers discounts including good student, good driver, multi-policy, DriveSense, and safety device.
  • Nationwide may offer discounts for easy pay, good student, family plan, business or organization, and defensive driving.

If you are trying to find affordable Lubbock car insurance quotes, ask every company how you can save money. Some of the earlier mentioned discounts may not apply to policyholders in your area.

Local Lubbock auto insurance agents and auto insurance

Certain consumers prefer to go talk to an agent and that is just fine! Most agents are highly skilled in risk management and give you someone to call. One of the best bonuses of comparing insurance prices online is that you can obtain the lowest rates and still choose a local agent.

Insurance agency in LubbockTo help locate an agent, after submitting this quick form, the coverage information gets sent to agents in your area who will gladly provide quotes for your business. You won't need to find an agent on your own as quotes are delivered to the email address you provide. If you want to get a rate quote from a specific insurance company, just visit that company's website and complete a quote there.

Choosing the best insurance company should include more criteria than just a cheap quote. The questions below may impact your decision as well.

  • How does the company pay claims for a total loss?
  • Do they receive special compensation for putting your coverage with one company over another?
  • Do they regularly work with personal auto policies in Lubbock?
  • What is their Better Business Bureau rating?
  • Are aftermarket or OEM parts used to repair vehicles?
  • How much will you save each year by using a higher deductible?
  • Will the agent or a CSR service your policy?
  • Will you get a loaner vehicle if you car is being repaired?

Listed below are Lubbock insurance companies who can help you get price quote information for BMW X3 insurance in Lubbock.

More insurance agents

What insurance coverages do I need?

Always remember that when buying the right insurance coverage, there isn't really a one size fits all plan. Your financial needs are unique so this has to be addressed.Car insurance savings For example, these questions might help in determining if you will benefit from professional help.

  • Is a driver training discount available?
  • Am I covered if I wreck a rental car?
  • Am I missing any policy discounts?
  • What vehicles should carry emergency assistance coverage?
  • How can I force my company to pay a claim?
  • How do I insure my teen driver?
  • Is my teen driver covered when they drive my company car?
  • Does my liability insurance cover pulling a trailer or camper?

If you don't know the answers to these questions but a few of them apply, then you may want to think about talking to an agent. If you don't have a local agent, simply complete this short form or click here for a list of car insurance companies in your area. It's fast, doesn't cost anything and you can get the answers you need.

In Summary

While you're price shopping online, never skimp on critical coverages to save a buck or two. There are many occasions where an insured cut uninsured motorist or liability limits and learned later they didn't have enough coverage. Your aim should be to find the BEST coverage for the lowest price, but do not skimp to save money.

The cheapest BMW X3 insurance in Lubbock is possible from both online companies as well as from insurance agents, so you need to shop Lubbock car insurance with both to have the best selection. There are still a few companies who do not offer the ability to get quotes online and these regional carriers provide coverage only through independent insurance agents.

In this article, we covered many ideas to shop for BMW X3 insurance online. It's most important to understand that the more providers you compare, the better your comparison will be. Consumers may even find the biggest savings come from an unexpected company. They may only write in your state and offer lower car insurance rates than the large multi-state companies such as Allstate or State Farm.

How to buy lower priced BMW X3 insurance in Lubbock

Truthfully, the best way to get low-cost auto insurance rates is to regularly compare price quotes from providers who provide car insurance in Lubbock. You can compare rates by completing these steps.

  • Step 1: Try to understand car insurance and the things you can control to keep rates low. Many rating criteria that increase rates such as accidents, traffic violations, and an imperfect credit history can be improved by making minor changes to your lifestyle.
  • Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO and State Farm, while agents who are independent can quote prices from multiple sources.
  • Step 3: Compare the new rate quotes to your existing policy and see if there is a cheaper rate. If you can save money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

The key aspect of shopping around is that you'll want to make sure you compare identical limits and deductibles on every quote request and to quote with as many auto insurance providers as possible. Doing this guarantees a level playing field and the best price selection.

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