Affordable Rate Quotes for BMW X3 Insurance in Oakland

  1. Home
  2. >
  3. Oakland Auto Insurance
  4. >
  5. BMW X3

Insurance for BMW X3Shockingly, most drivers have been with the same company for over three years, and roughly 40% of drivers have never compared rates to find lower-cost insurance. California insurance shoppers could pocket nearly $469 a year just by getting comparison quotes, but most tend to underestimate the big savings they would realize if they bought a different policy.

The best way we recommend to save on car insurance rates in Oakland is to regularly compare prices from companies who sell auto insurance in California.

Step 1: Spend some time learning about how car insurance works and the modifications you can make to keep rates in check. Many rating factors that result in higher prices such as traffic violations and a low credit rating can be remedied by improving your driving habits or financial responsibility. Later in this article we will cover additional tips to find cheap rates and find additional discounts.

Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like Progressive or Allstate, while independent agents can provide rate quotes from multiple insurance companies.

Step 3: Compare the new rates to your existing policy to determine if switching companies saves money. If you can save some money and change companies, ensure there is no coverage lapse between policies.

Step 4: Notify your company or agent of your decision to cancel the current policy and submit a down payment along with a signed application for the new coverage. Once coverage is bound, place your new proof of insurance certificate somewhere easily accessible.

A crucial key to this process is to try to compare the same coverage limits and deductibles on every price quote and and to get rate quotes from as many companies as you can. Doing this provides an apples-to-apples comparison and the best price selection.

What Determines BMW X3 Insurance Prices?

Lots of factors are part of the equation when you get a price on insurance. Some factors are common sense such as your driving history, but other factors are less apparent like your vehicle usage or your vehicle rating.

The list below includes most of the major factors utilized by car insurance companies to help set rates.

Performance makes a difference - The performance of the car or truck you are buying insurance for makes a big difference in your auto insurance rates. Economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.

The next chart is based on a single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It compares BMW X3 policy rates compared to other models that have a range of risk factors.

Youthful drivers cost more - More mature drivers tend to be more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets. Inexperience drivers are statistically shown to be careless and easily distracted in a vehicle so they pay higher car insurance rates.

The next chart uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

Add-on coverages you don't use - Policies have extra coverages that sound like a good idea at the time on your car insurance policy. Coverages for rental car reimbursement, high-cost glass coverage, and extra life insurance coverage are some examples. They may sound like good ideas initially, but if you have no use for them consider taking them off your policy.

Commute or pleasure use - The more miles you rack up on your BMW annually the higher your rate. Almost all companies calculate rates partially by how you use the vehicle. Autos not used for work or commuting get more affordable rates than those used for commuting. Double check that your car insurance coverage reflects the correct usage for each vehicle. Incorrect rating for your X3 is just wasting money.

Driving citations drive up premiums - Drivers with clean records tend to pay less for car insurance as compared to those with violations. Having a single chargeable violation may increase your cost forty percent or more. Drivers with dangerous citations like DUI or willful reckless driving may face state-mandated requirements to submit a SR-22 form with their state's department of motor vehicles in order to prevent their license from being revoked.

The illustration below highlights how traffic violations and at-fault claims can increase BMW X3 annual premium costs for different categories of driver ages. The premium estimates are based on a single female driver, comp and collision included, $100 deductibles, and no other discounts are factored in.

Gaps in coverage mean higher prices - Driving with no insurance can get your license suspended and you may have a hard time finding new coverage because you let your insurance lapse. And not only will insurance be more expensive, the inability to provide proof of insurance can result in fines or a revoked license. You will then be forced to file a SR-22 with the California motor vehicle department.

Lower rates with a multi-policy discount - Most larger companies provide a discount to clients who consolidate policies with them, otherwise known as a multi-policy discount. Even with this discount applied, it's still a good idea to check prices from other companies to confirm you are receiving the best rates possible.There is a chance you can save more without the discount by splitting coverages up.

Loss statistics for a BMW X3 - Insurers study historical loss data when they set coverage costs for each model. Vehicles that statistically have a trend towards higher claim severity or frequency will cost more to insure.

The table below shows the insurance loss data used by companies for BMW X3 vehicles. For each type of coverage, the statistical loss for all vehicles as a whole is represented as 100. Percentage numbers below 100 indicate a favorable loss history, while numbers above 100 show a trend for more claims or tendency to have larger claims.

Auto Insurance Loss Data for BMW X3 Models
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
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Insurance coverage details

The premium information shown next outlines estimates of insurance rates for BMW X3 models. Learning more about how insurance prices are established can help drivers make smart choices when purchasing an insurance policy.

BMW X3 Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $398 $630 $578 $34 $174 $1,814 $151
Get Your Own Custom Quote Go

Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Rate quotes do not factor in vehicle location which can impact price quotes greatly.

Physical damage deductibles

When buying car insurance, a common question is how high should the physical damage coverage deductibles be. The rates below lay out the cost difference when you buy lower versus higher insurance deductibles. The first data set uses a $250 deductible and the second rate chart uses a $500 deductible.

BMW X3 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $430 $780 $442 $26 $132 $1,835 $153
Get Your Own Custom Quote Go
BMW X3 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X3 3.0I xDrive AWD 4-Dr $348 $630 $442 $26 $132 $1,578 $132
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Rates do not factor in vehicle garaging location which can affect premiums noticeably.

We can estimate from the data above that using a $250 deductible costs roughly $21 more each month or $252 each year than selecting the higher $500 deductible. Because you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you usually have at least 12 months between claims, you would probably save some money going with the higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $153
Average monthly premium for $500 deductibles (subtract): - $132
Monthly savings from raising deductible: $21
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One thing to be aware of is that a higher deductible level means you will have to pay more of your own money when you have to file a claim. You will want to have access to more funds in the event you have to pay the higher deductible in order to repair your vehicle.

Full coverage versus liability-only in Oakland

The chart below shows the comparison of BMW X3 auto insurance rates with full physical damage coverage and with liability coverage only. The costs are based on a clean driving record, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are taken into consideration.

Guidelines for dropping full coverage

There isn't a written rule that is best for determining when to drop comp and collision coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let's pretend your BMW X3 replacement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $2,000 after paying your deductible. If you are paying in excess of $200 annually to have full coverage, then it might be time to consider dropping full coverage.

There are some situations where dropping physical damage coverage is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage.

Verify you're earning every discount

Some companies don't list every discount available in an easy-to-find place, so we break down some of the more common in addition to some of the lesser obvious discounts that you can inquire about if you buy Oakland car insurance online.Discount insurance

  • Passive Restraint Discount - Options like air bags may earn rate discounts of more than 20%.
  • Defensive Driver - Taking time to complete a course in driver safety is a good idea and can lower rates and easily pay for the cost of the class.
  • Professional Memberships - Being in qualifying clubs or civic groups can get you a small discount when getting a Oakland car insurance quote.
  • Good Student Discount - Excelling in school can get you a discount of up to 25%. Earning this discount can benefit you until age 25.
  • Own a Home and Save - Owning your own home or condo can save a few bucks due to the fact that maintaining a home demonstrates responsibility.
  • Anti-lock Brakes - Anti-lock brake equipped vehicles can stop better under adverse conditions and will save you 10% or more on X3 insurance in Oakland.
  • Discount for Life Insurance - Insurance carriers who offer life insurance give a small discount if you purchase auto and life insurance together.
  • Low Mileage - Driving less can qualify you for slightly better insurance rates than normal.
  • Sign Online - Some insurance companies provide a small discount for completing your application on the internet.
  • Distant Student Discount - Older children living away from Oakland attending college and leave their car at home can receive lower rates.

It's important to note that some credits don't apply to your bottom line cost. Some only apply to individual premiums such as collision or personal injury protection. So even though you would think you could get a free insurance policy, it doesn't quite work that way.

The chart below illustrates the comparison of BMW X3 annual premium costs with and without some available policy discounts. The costs are based on a female driver, no claims, a clean driving record, California state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, safe-driver, homeowner, marriage, and multi-car discounts applied.

Large insurance companies and a partial list of their discounts can be found below.

  • The Hartford includes discounts for vehicle fuel type, good student, anti-theft, defensive driver, air bag, bundle, and driver training.
  • American Family offers premium reductions for Steer into Savings, defensive driver, good driver, good student, air bags, and bundled insurance.
  • Progressive offers discounts including continuous coverage, online quote discount, multi-policy, multi-vehicle, and good student.
  • Travelers may offer discounts for early quote, payment discounts, new car, continuous insurance, and student away at school.
  • Farmers Insurance may include discounts for multi-car, switch companies, alternative fuel, good student, distant student, early shopping, and mature driver.
  • USAA discounts include loyalty savings, good student, vehicle storage, annual mileage, safe driver, family discount, and defensive driver.
  • Liberty Mutual has discounts for newly retired, teen driver discount, preferred payment discount, exclusive group savings, and good student.

Double check with each company or agent which credits you are entitled to. Some credits might not be available to policyholders in your state. To see companies that offer multiple discounts in California, click here.

You can find cheaper coverage

Consumers switch companies for any number of reasons including high rates after DUI convictions, extreme rates for teen drivers, lack of trust in their agent or high prices. Whatever your reason, switching auto insurance companies is less work than it seems.

As you quote Oakland car insurance, it's a bad idea to sacrifice coverage to reduce premiums. Too many times, drivers have reduced liability coverage limits and learned later that the few dollars in savings costed them thousands. The proper strategy is to purchase a proper amount of coverage at the best cost while not skimping on critical coverages.

We just presented some good ideas how to lower your BMW X3 insurance car insurance rates in Oakland. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. You may even be surprised to find that the best car insurance rates are with a small mutual company.

Helpful resources