BMW X3 insurance cost image courtesy of QuoteInspector.com
There isn't anyone who likes having to buy car insurance, especially when they could find better prices if they shop around.
Sadly, 70% of consumers kept their policy with the same company for a minimum of four years, and practically 40% of car insurance customers have never compared rates from other carriers. The average driver in the U.S. can save hundreds of dollars each year, but they just assume it takes a lot of time to find cheaper insurance by shopping around.
Companies like State Farm, Progressive and GEICO constantly blast consumers with TV and radio ads and it can be hard to see through the deception and find the best price available.
It's a great practice to do price comparisons every six months because rates change quite often. Despite the fact that you may have had the lowest premium rates on BMW X3 insurance in Houston a couple years back there is a good chance you can find better prices now. There is a lot of wrong information about X3 insurance on the web, but in a few minutes you can learn the easiest ways to save money.
How to buy BMW X3 insurance online
Keep in mind that making a lot of price comparisons increases the chance that you will find lower pricing. Not every company allows you to get Houston X3 insurance quotes online, so it's necessary to compare prices from them, too.
The companies shown below are our best choices to provide quotes in Houston, TX. If more than one company is shown, it's highly recommended you visit as many as you can to get the most affordable price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|X3 3.0I xDrive AWD 4-Dr||$318||$660||$430||$26||$128||$1,562||$130|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Table data does not factor in Houston location which can modify coverage rates considerably.
Bad driving habits will cost you more
The illustration below demonstrates how traffic citations and at-fault claims can drive up BMW X3 auto insurance costs for different categories of driver ages. Data assumes a married male driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.
Full coverage or liability only
The illustration below shows the difference between BMW X3 auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The data assumes no accidents, no driving violations, $250 deductibles, married male driver, and no discounts are applied to the premium.
Are you wasting money paying for full coverage?
There is no definitive guideline for dropping comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let's pretend your BMW X3 replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after paying your deductible. If it's costing you more than $600 a year to have full coverage, then it may be the right time to buy liability only.
There are a few cases where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not opt for liability only.
Protect more than your BMW X3
Despite the high cost of buying insurance for a BMW X3 in Houston, insuring your vehicle may be required and benefits you in several ways.
- The majority of states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability insurance coverage in order to license the vehicle. 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 have a loan on your X3, it's most likely the lender will require that you have insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank may buy a policy for your BMW at a more expensive rate and force you to reimburse them for the much more expensive policy.
- Auto insurance protects both your car and your assets. Insurance will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of insuring your car more than offset the price you pay, specifically if you ever have a liability claim. Unknowingly, the average driver is overpaying more than $830 a year so compare rates at every renewal to ensure rates are competitive.
Houston Insurance Rates are Influenced by These Factors
Many factors are part of the equation when you quote your car insurance policy. Some factors are common sense like your driving record, but other factors are less apparent such as whether you are married or your vehicle rating.
Shown below are a few of the things used by companies to determine prices.
Reserve policy claims for larger damages - If you are a frequent claim filer, you can definitely plan on increased rates or even have your policy non-renewed. Car insurance companies in Texas give cheaper rates to people who are claim-free. Auto insurance is intended to be relied upon for major claims that would cause financial hardship.
Your career may increase prices - Did you know your job can affect your rates? Jobs like fire fighters, air traffic controllers, and accountants tend to pay higher premiums than the average policyholder due to job stress and long work days. On the other hand, jobs such as actors, historians and homemakers pay the least.
Raise your comp and collision deductibles for better rates - The deductibles define how much the insured will be required to pay if a covered claim is submitted. Physical damage protection, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Examples of some claims that would be covered are collision with another vehicle, hail damage, and damage caused by road hazards. The more of the claim you are required to pay out-of-pocket, the lower your rates will be.
Pleasure use or commuting - Driving more miles in a year's time the more you'll pay to insure your vehicle. Most companies calculate prices based on their usage. Cars used primarily for pleasure use cost less to insure compared to those used for work or business. Incorrect rating for your X3 is throwing money out the window. Verify your car insurance policy states the correct driver usage.
Policy add-ons could be costing you - Insurance companies have many extra add-on coverages that you can get tricked into buying on your X3 policy. Add-on coverages like personal injury protection, better glass coverage, and Farm Bureau memberships could be just wasting money. You may think they are a good idea when buying your policy, but your needs may have changed so get rid of them and save.
Insurance loss data for BMW X3 vehicles - Companies use statistical claims data when they set coverage costs for each model. Vehicles that the data determines to have a trend towards higher claim severity or frequency will have higher premium rates. The table below shows the historical insurance loss data for BMW X3 vehicles.
For each type of coverage, the loss probability for all vehicles combined as an average is equal to 100. Values that are 100 or less represent a good loss history, while numbers that are greater than 100 indicate more frequent claims or larger claims.
BMW X3 Insurance Claim Statistics
|Make and 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
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Save a ton on BMW X3 insurance in Houston with these insurance discounts
Companies that sell car insurance don't always list the entire discount list in an easy-to-find place, so the next list breaks down a few of the more well known as well as the least known discounts you could be receiving when you buy Houston car insurance online.
- Air Bags and Passive Restraints - Vehicles equipped with air bags may earn rate discounts of 20% or more.
- Discounts for Seat Belt Usage - Drivers who require all vehicle occupants to wear their seat belts can save a little off the personal injury premium cost.
- Discounts for Government Workers - Having worked for a branch of the government could cut as much as 10% off depending on your company.
- Policy Bundle Discount - If you combine your auto and home policies with the same insurance company they may give you a discount of up to 20% and get you the cheapest BMW X3 insurance in Houston.
- Multi-line Discount - Insurance carriers who offer life insurance give better insurance rates if you take out some life insurance in addition to your auto policy.
- Good Student - Getting good grades may save as much as 25% on a Houston car insurance quote. Many companies even apply the discount to college students until age 25.
- Buy New and Save - Insuring a new X3 can be considerably cheaper since newer models have better safety ratings.
- Payment Discounts - By paying your entire bill at once rather than paying in monthly installments you can avoid the installment charge.
- Resident Student - Older children who live away from home at college and don't have a car could qualify for this discount.
As is typical with insurance, most discounts do not apply to the overall cost of the policy. Some only apply to individual premiums such as comprehensive or collision. Despite the fact that it seems like all the discounts add up to a free policy, it just doesn't work that way. Any amount of discount will positively reduce your policy premium.
Some companies that may have some of the above discounts include:
Before purchasing a policy, check with each insurance company which credits you are entitled to. Some discounts may not be available in Houston.
Buying from car insurance agents
Many people still like to buy from a licensed agent and that is a smart decision A nice benefit of getting online price quotes is you may find lower rates and still buy from a local agent.
After completing this quick form, your coverage information is immediately sent to insurance agents in Houston who will give you bids for your business. There is no need to contact any agents since rate quotes are delivered immediately to your email address. You can find better rates without requiring a lot of work. If you need to compare rates from a specific insurance company, you can always search and find their rate quote page to submit a rate quote request.
Choosing an insurance company should include more criteria than just a low price. A good agent in Houston will have answers to these questions.
- Can they help ensure a fair claim settlement?
- Does their agency support local causes in Houston?
- Can you choose the body shop in case repairs are needed?
- Is the agent properly licensed in Texas?
- Will a damage claim use OEM or aftermarket replacement parts?
Exclusive agents vs. Independent agents
If you need to find a reputable agency, you should know the types of insurance agents that you can choose from. Insurance agencies in Houston can be described as either independent agents or exclusive agents.
Exclusive Insurance Agents
These agents write business for a single company and examples are Farmers Insurance or State Farm. They generally cannot provide other company's prices so always compare other rates. They are usually well trained in insurance sales which helps them sell on service rather than price.
Shown below are Houston exclusive agencies willing to provide rate quotes.
Lucrecia Jasminoy - State Farm Insurance Agent
223 Cavalcade St - Houston, TX 77009 - (713) 884-1442 - View Map
Independent Agents (or Brokers)
Agents that choose to be independent are not limited to a single company so they have the ability to put coverage with a variety of different insurance companies depending on which coverage is best. To move your coverage to a new company, they simply switch companies in-house and you won't have to switch agencies.
When comparing car insurance prices, we highly recommend that you compare prices from independent agents to ensure the widest selection of prices.
Shown below is a list of independent agencies in Houston that can give you rate quotes.
After getting good answers to any questions you have and an affordable coverage quote, you may have just found an auto insurance agent that is reputable and can adequately provide car insurance. But keep in mind you can terminate your policy any time you want so don't assume you're contractually obligated to any specific agency indefinitely.
Persistent drivers can save
Affordable BMW X3 insurance in Houston can be purchased both online and also from your neighborhood Houston agents, so you should compare both in order to have the best chance of saving money. Some insurance companies do not offer price quotes online and these small insurance companies sell through independent agents.
When buying insurance coverage, don't be tempted to reduce coverage to reduce premium. In many instances, consumers will sacrifice full coverage and found out when filing a claim that it was a big mistake. Your objective should be to purchase plenty of coverage for the lowest cost but still have enough coverage for asset protection.
Even more information can be found at these sites:
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- What Auto Insurance is Cheapest for a Jeep Wrangler in Houston? (FAQ)
- Who Has Cheap Car Insurance Quotes for a 20 Year Old Male in Houston? (FAQ)
- Who Has the Cheapest Car Insurance for College Students in Houston? (FAQ)
- Neck Injury FAQ (iihs.org)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Bodily Injury Coverage (Liberty Mutual)