Insurance groups are one way to judge the potential price. The lower the group, typically the lower the insurance premium. However this can be complicated. The new 3 Series Coupe alone spans insurance groups 21-42, so choose your model and engine size wisely if you are worried about the price of insurance. Your car’s age will also affect the cost, as older cars might be cheaper to buy, but they may actually cost more to insure as their safety features and economic performance might be worse than a more modern BMW.
Another way to help find the cheapest deal is to tweak your voluntary excess. If you increase your excess your insurance premium is likely to reduce. You already have a compulsory excess on your policy so just make sure you can afford the total policy excess should you need to make a claim for your BMW.
Will you be sharing your BMW with an experienced driver? This could also help reduce your premium. That’s because adding an experienced named driver to your policy tells insurers that the driving will be shared and that the additional driver’s risk profile could reduce the overall risk. Just make sure that the named driver actually is going to use the car, but isn’t the person who drives it most. It’s illegal to misrepresent who is the main driver of the car and is called ‘fronting’.
You can get a fair price on the right level of cover for you by comparing leading providers with our comparison service. In just a few minutes, we will be able to provide you with personalised quotes that will help you assess the right options for you. You may very well find that you could save a lot of money on your car insurance premium.