A recent insurance study discovered that almost 70% of insureds have stayed with the same insurance company for four years or more, and almost 40% of drivers have never quoted rates to find affordable coverage. Ohio drivers could save an average of as much as $700 each year by just comparing quotes, but they just don’t understand the amount of savings they would get if they replace their high priced policy.
It takes a little time, but the best way to get low-cost BMW Alpina B7 insurance is to compare prices annually from providers who sell insurance in Cleveland. You can compare prices by following these steps.
First, learn about what is in your policy and the measures you can control to lower rates. Many policy risk factors that result in higher rates like at-fault accidents, careless driving, and a bad credit score can be remedied by making minor changes to your lifestyle.
Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like Progressive or State Farm, while independent agents can provide rate quotes from multiple sources. Compare rates now
Third, compare the quotes to your current policy and see if you can save money. If you find a better price and decide to switch, make sure there is no lapse in coverage.
Fourth, notify your agent or company of your decision to cancel your current coverage and submit payment along with a signed and completed policy application to the newly selected company. Once coverage is bound, put the certificate verifying proof of insurance in your glove compartment.
The critical component of shopping around is to compare similar deductibles and liability limits on each quote and and to get rates from as many different insurance providers as possible. Doing this guarantees a level playing field and many rates to choose from.
The companies shown below provide quotes in Cleveland, OH. In order to find cheap auto insurance in Cleveland, we suggest you visit two to three different companies in order to get a fair rate comparison.
Protect your BMW Alpina B7 and other assets
Even though Cleveland Alpina B7 insurance rates can get expensive, paying for auto insurance may be mandatory for several reasons.
- Almost all states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability coverage in order to license the vehicle. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your vehicle, it’s most likely the lender will require you to have insurance to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender will be forced to insure your BMW at a much higher rate and force you to reimburse them the higher premium.
- Insurance safeguards both your assets and your BMW Alpina B7. It will also reimburse you for many types of medical costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay to defend you if someone files suit against you as the result of an accident. If your BMW gets damaged, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than offset the price you pay, especially for larger claims. On average, a vehicle owner in Cleveland overpays more than $750 every year so compare quotes from several companies each time the policy renews to help ensure money is not being wasted.
Earn discounts to get lower-cost Cleveland insurance quotes
Some insurance providers don’t always publicize their entire list of discounts in an easy-to-find place, so the list below contains both well-publicized as well as some of the hidden ways to save on insurance. If you don’t get every credit possible, you’re just leaving money on the table.
- Payment Discounts – By making one initial payment rather than paying monthly you can actually save on your bill.
- Accident-Free Discounts – Insureds who avoid accidents and claims pay much less as compared to drivers who are more careless.
- Low Miles Discount – Keeping the miles down on your BMW could earn slightly better insurance rates than normal.
- Paper-free Discount – Some of the larger companies will give a small break for buying your policy online.
- Federal Government Employee – Being employed by or retired from a federal job could provide a small rate reduction with some insurance companies.
- New Car Discount – Adding a new car to your policy can get you a discount because newer vehicles are generally safer.
- Telematics Data Discounts – Drivers that enable companies to monitor driving patterns by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system could possibly reduce rates if their driving habits are good.
A little disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Some only reduce individual premiums such as liability and collision coverage. Despite the appearance that all the discounts add up to a free policy, insurance companies aren’t that generous. But any discount will cut your insurance premiums.
The best insurance companies and a partial list of their discounts are detailed below.
- GEICO offers premium reductions for membership and employees, good student, air bags, emergency military deployment, anti-lock brakes, and military active duty.
- Travelers includes discounts for continuous insurance, student away at school, driver training, save driver, and multi-policy.
- Farm Bureau offers discounts for safe driver, youthful driver, multi-vehicle, good student, and 55 and retired.
- Liberty Mutual policyholders can earn discounts including new move discount, new graduate, multi-policy, good student, and hybrid vehicle.
- American Family may include discounts for mySafetyValet, early bird, good driver, TimeAway discount, Steer into Savings, and air bags.
- Progressive discounts include multi-vehicle, homeowner, continuous coverage, multi-policy, online signing, and good student.
Check with every insurance company which discounts they offer. Some discounts listed above might not apply in Cleveland.
Local insurance agents
Many people still prefer to have an agent’s advice and doing that can be a smart decision Experienced insurance agents can point out coverage gaps and help submit paperwork. One of the benefits of comparing rate quotes online is the fact that you can find lower premium rates and still have a local agent.
After filling out this quick form, the quote information is sent to companies in Cleveland who will give you quotes for your insurance coverage. You don’t have to contact an agency as quotes are delivered to the email address you provide. If for some reason you want to get a rate quote from a specific insurance provider, you just need to visit that company’s website and give them your coverage information.
Picking an company is decision based upon more than just the bottom line cost. These are some valid questions you should ask.
- Which insurance company do they prefer to write with?
- Does their agency support local causes in Cleveland?
- Are they full-time agents?
- Is there a Errors and Omissions policy in force?
- Do they make recommendations based only on price?
- Will their companies depreciate repairs to your car based on the mileage?
- Does the agent recommend any additional coverage?
If you want to buy insurance from a local Cleveland insurance agent, there are a couple of different types of agents and how they differ in how they can insure your vehicles. Insurance agents are considered either independent (non-exclusive) or exclusive. Either type can insure your vehicles, but it is a good idea to know how they are different since it can impact the kind of agent you use.
Exclusive Insurance Agencies
Agents that choose to be exclusive can only provide one company’s prices such as American Family, State Farm, and Allstate. Exclusive agents are unable to provide other company’s prices so they really need to provide good service. Exclusive agents are well trained on their company’s products which helps offset the inability to provide other markets.
Listed below are exclusive agents in Cleveland willing to provide price quotes.
Allstate Insurance: Eslick Insurance and Financial Services
2775 S Moreland Blvd Ste 203 – Cleveland, OH 44120 – (216) 283-5570 – View Map
Independent Insurance Agencies
Agents that elect to be independent are not employed by one company and that allows them to write policies through many companies depending on which coverage is best. If prices rise, they simply switch companies in-house and you don’t have to find a new agent. If you need cheaper insurance rates, we highly recommend that you compare prices from a couple of independent agencies to have the most options to choose from.
Listed below are Cleveland independent insurance agents that can give you rate quotes.
Auto insurance coverage breakdown
Having a good grasp of a auto insurance policy can help you determine the right coverages for your vehicles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. These are the usual coverages found on the average auto insurance policy.
Liability insurance provides protection from damage or injury you incur to other people or property in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.
Liability coverage pays for things such as medical services, pain and suffering, court costs, emergency aid and funeral expenses. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford. Ohio state law requires minimum liability limits of 25/50/25 but you should consider buying more coverage.
The chart below shows why buying minimum limits may not be enough.
Auto collision coverage
Collision coverage covers damage to your Alpina B7 caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like sideswiping another vehicle, backing into a parked car, scraping a guard rail, crashing into a building and colliding with a tree. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible on your Alpina B7 in order to get cheaper collision rates.
Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your BMW Alpina B7.
Since a lot of drivers only carry the minimum required liability limits (25/50/25), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses such as EMT expenses, pain medications, rehabilitation expenses, X-ray expenses and hospital visits. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Comprehensive or Other Than Collision
Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as rock chips in glass, damage from flooding, fire damage and theft. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
The best insurance company isn’t always the cheapest
Cheaper insurance in Cleveland can be purchased on the web and from local agencies, and you should be comparing both to have the best rate selection. A few companies do not provide the ability to get quotes online and most of the time these regional insurance providers prefer to sell through local independent agencies.
As you prepare to switch companies, do not skimp on coverage in order to save money. There are a lot of situations where drivers have reduced liability coverage limits and discovered at claim time they didn’t purchase enough coverage. Your objective should be to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.
More learning opportunities
- Avoiding Deer Collisions (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a School Permit in Cleveland? (FAQ)
- Who Has the Cheapest Cleveland Car Insurance Quotes for Teachers? (FAQ)
- Who Has Affordable Cleveland Auto Insurance Rates for Teenage Males? (FAQ)
- Who Has Affordable Auto Insurance for Veterans in Cleveland? (FAQ)
- How Much is Cleveland Auto Insurance for a Dodge Journey? (FAQ)
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)