Best Insurance for a BMW Z4 in Portland

Online price comparisons for inexpensive BMW Z4 insurance in Portland probably sounds like a formidable task if you’re new to rate quotes online. But keep reading because finding affordable coverage for BMW Z4 insurance in Portland is easier than you think.

Unimaginable but true, nearly 70% of customers kept their policy with the same company for at least the last four years, and almost 40% of drivers have never compared rate quotes at all. Drivers in America could pocket roughly $850 a year just by comparing rates, but they think it’s difficult to find cheap auto insurance rates.

It’s a great practice to take a look at other company’s rates occasionally since insurance rates tend to go up over time. Despite the fact that you may have had the best deal on BMW Z4 insurance in Portland a couple years back there is a good chance you can find better prices now. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the best methods to find better coverage on BMW Z4 insurance in Portland at a better price.

Companies offering BMW Z4 insurance in Portland

The following companies can provide free rate quotes in Portland, OR. To get cheaper auto insurance in Portland, OR, it’s highly recommended you click on several of them to find the most competitive auto insurance rates.

BMW Z4 coverage analysis

The coverage table shown next covers detailed analysis of insurance policy prices for BMW Z4 models. Being more informed about how insurance rates are figured can help drivers make smart choices when choosing a car insurance company.

Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Rate quotes do not factor in zip code location which can change price quotes noticeably.

Higher deductibles save money

One of the most common auto insurance questions is which deductible level should you buy. The following tables approximate the cost difference between high and low deductibles. The first rate comparisons uses a $100 deductible for comprehensive and collision coverage and the second price chart uses a $500 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Rate quotes do not factor in Portland location which can decrease or increase coverage rates significantly.

Using the premium rates above, we can conclude that using a $100 deductible could cost the average driver approximately $28 more each month or $336 a year than choosing the higher $500 deductible. Since you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you normally go at least 14 months between claim filings, you would more than likely save some money if you choose the higher deductible.

The example below illustrates how choosing a deductible and can increase or decrease BMW Z4 annual premium costs for each different age category. The prices are based on a single female driver, full coverage, and no additional discounts are factored in.

Violations and accidents raise rates

The diagram below demonstrates how speeding tickets and at-fault accidents drive up BMW Z4 car insurance rates for each different age category. The premiums are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.

Annual premiums comparing men and women in Portland

The example below shows the difference between BMW Z4 auto insurance costs for male and female drivers. Data assumes no claims or violations, full physical damage coverage, $100 deductibles, single marital status, and no other discounts are factored in.

BMW Z4 full coverage rates compared to liability only

The example below compares BMW Z4 insurance costs with and without physical damage coverage. The data assumes no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.

When to drop comprehensive and collision coverage

There is no exact formula to stop buying comp and collision coverage, but there is a general convention. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s pretend your BMW Z4 settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after paying your policy deductible. If it’s costing in excess of $800 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are some situations where eliminating full coverage is not advised. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

These seven discounts can lower your auto insurance quotes

Companies don’t list their entire list of discounts in a way that’s easy to find, so we took the time to find both well-publicized as well as the least known discounts that you can inquire about if you buy Portland auto insurance online. If they aren’t giving you every credit available, you’re just leaving money on the table.

• Discounts for Multiple Vehicles – Buying insurance for primary and secondary vehicles with the same auto insurance company qualifies for this discount.
• One Accident Forgiven – Not necessarily a discount, but some insurance companies allow you one accident before hitting you with a surcharge if your claims history is clear prior to being involved in the accident.
• Drive Less and Save – Maintaining low annual mileage can qualify you for lower auto insurance rates on the low mileage vehicles.
• Seat Belts Save more than Lives – Drivers who require all occupants to buckle up before driving could cut 10% or more off the medical payments premium.
• Discount for Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may get savings of up to 25% or more.
• Theft Deterrent System – Anti-theft and alarm system equipped vehicles are stolen less frequently and therefore earn up to a 10% discount.
• Paperwork-free – A few companies give back up to $50 for buying your policy on the web.

A quick disclaimer, most discounts do not apply to the entire cost. Most only reduce the price of certain insurance coverages like collision or personal injury protection. Just because it seems like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

The illustration below compares BMW Z4 insurance costs with and without some available policy discounts. The premiums assume a female driver, no violations or claims, Oregon state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, claim-free, homeowner, and multi-policy discounts applied.

A list of auto insurance companies and their offered discounts are:

• Farm Bureau may offer discounts for multi-vehicle, 55 and retired, youthful driver, safe driver, good student, and renewal discount.
• Liberty Mutual policyholders can earn discounts including preferred payment discount, hybrid vehicle, exclusive group savings, new move discount, and new graduate.
• State Farm discounts include passive restraint, Drive Safe & Save, accident-free, multiple policy, driver’s education, and good driver.
• Auto-Owners Insurance has discounts for anti-theft, paperless, safe vehicle, air bags, and mature driver.
• GEICO offers discounts for anti-lock brakes, air bags, anti-theft, membership and employees, defensive driver, and five-year accident-free.
• SAFECO includes discounts for multi-car, teen safe driver, anti-theft, drive less, and teen safety rewards.

Double check with each company or agent to apply every possible discount. All car insurance discounts may not be available everywhere. To view insurance companies that offer the discounts shown above in Portland, click here.

Local Portland insurance agencies

Certain consumers just prefer to get advice from a local agent and we recommend doing that A good thing about getting online price quotes is that drivers can save money and get the lowest rates and still have a local agent. Buying from small agencies is important particularly in Portland.

For easy comparison, once you complete this simple form, your information is immediately sent to agents in your area who will gladly provide quotes for your coverage. There is no reason to visit any agencies because quoted prices will be sent instantly to you. You can find the lowest rates and a licensed agent to work with. If for some reason you want to get a comparison quote from a specific insurance company, just jump over to their website and give them your coverage information.

Shown below are Portland auto insurance companies willing to provide price quote information for BMW Z4 insurance in Portland.

• Stamm Stuart Bybee Insurance
  16455 SE Division St – Portland, OR 97236 – (971) 254-1148 – View Map
• Ernest J Hill Jr – State Farm Insurance Agent
  4946 N Vancouver Ave – Portland, OR 97217 – (503) 286-1103 – View Map
• Reggie Guyton – State Farm Insurance Agent
  8180 N Lombard St – Portland, OR 97203 – (503) 289-3601 – View Map
• Darrell Grenz Insurance Agency
  5651 N Lombard St – Portland, OR 97203 – (503) 206-6736 – View Map

More insurance agents

Picking an insurer shouldn’t rely on just a cheap price quote. The questions below may impact your decision as well.

• Do they specialize in personal lines auto insurance in Portland?
• How are claims handled?
• Is every driver in your family covered?
• Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
• Do they offer accident forgiveness?
• Is the agent CPCU or CIC certified?
• Will they take your side in the event of a claim?
• How much training do they have in personal risk management?

What is the best auto insurance company in Portland?

Selecting the right auto insurance company can be difficult considering how many companies sell coverage in Oregon. The rank data displayed below could help you decide which auto insurers to look at purchasing a policy from.

Top 10 Portland Car Insurance Companies Overall

1. USAA
2. American Family
3. State Farm
4. The Hartford
5. AAA Insurance
6. GEICO
7. The General
8. Titan Insurance
9. Progressive
10. Mercury Insurance

Car insurance coverage information

Understanding the coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Coverage for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for bills for chiropractic care, hospital visits and dental work. They are utilized in addition to your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Auto liability – Liability insurance provides protection from damages or injuries you inflict on other’s property or people that is your fault. It protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/20 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and $20,000 of coverage for damaged property. Some companies may use a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things like loss of income, repair costs for stationary objects, funeral expenses, attorney fees and emergency aid. How much liability coverage do you need? That is up to you, but you should buy as large an amount as possible. Oregon state law requires minimum liability limits of 25/50/20 but it’s recommended drivers buy more coverage.

The chart below shows why buying minimum limits may not be high enough to adequately cover claims.

Uninsured and underinsured coverage – This protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for hospital bills for your injuries and damage to your BMW Z4.

Since many Oregon drivers have only the minimum liability required by law (Oregon limits are 25/50/20), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family. Most of the time these limits do not exceed the liability coverage limits.

Comprehensive coverages – This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like falling objects, a broken windshield, damage from getting keyed, vandalism and hitting a bird. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Collision coverage – This coverage pays for damage to your Z4 resulting from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as backing into a parked car, crashing into a building, hitting a mailbox and rolling your car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to increase the deductible on your Z4 in order to get cheaper collision rates.

Shop around and save

We’ve covered some good ideas how you can shop for BMW Z4 insurance online. It’s most important to understand that the more times you quote, the higher the chance of saving money. Consumers may even find the best price on car insurance is with a small mutual company.

As you quote Portland auto insurance, don’t be tempted to reduce needed coverages to save money. There have been many cases where drivers have reduced uninsured motorist or liability limits only to discover later they didn’t purchase enough coverage. Your aim should be to purchase a proper amount of coverage at an affordable rate.

Some companies may not have the ability to get quotes online and usually these regional insurance providers provide coverage only through independent agents. Lower-priced BMW Z4 insurance in Portland can be sourced online and also from your neighborhood Portland agents, so you should compare both to get a complete price analysis.

Steps to quoting cheaper BMW Z4 insurance in Portland

The best way we recommend to get the cheapest BMW Z4 insurance in Portland is to start comparing rates regularly from different companies in Oregon.

1. Try to learn a little about auto insurance and the modifications you can make to prevent rate increases. Many factors that drive up the price such as distracted driving and an imperfect credit history can be improved by being financially responsible and driving safely.
2. Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from one company like GEICO and State Farm, while independent agents can give you price quotes from multiple sources.
3. Compare the quotes to your existing rates to determine if switching companies saves money. If you can save some money, make sure coverage is continuous and does not lapse.
4. Give notification to your current company of your intention to cancel your current policy and submit the signed application along with the required initial payment for your new coverage. Immediately upon receiving it, put the new certificate of insurance in your vehicle.

The key thing to remember is to compare similar deductibles and liability limits on every quote and and to look at all possible companies. This enables an accurate price comparison and a complete price analysis.

Additional car insurance information is available below:

• Safety Belts FAQ (iihs.org)
• What Auto Insurance is Cheapest for Homeowners in Portland? (FAQ)
• How Much is Auto Insurance for Drivers Requiring a SR22 in Portland? (FAQ)
• How Much Auto Coverage do I Need? (Insurance Information Institute)
• Vehicle Insurance in the U.S. (Wikipedia)