Locating better insurance prices for a BMW Z4 in Illinois can normally be an all-consuming task, but you can use our insurance buying tips to make it easier. There is a better way to compare insurance rates so you’re going to learn the absolute fastest way to get price quotes for your BMW and obtain the lowest price from Chicago insurance agents and online providers.
It’s amazing but most insurance buyers have remained with the same insurance company for well over three years, and almost half have never compared rates with other companies. Most drivers in Illinois could save themselves about $600 a year by just comparing rate quotes, but they underestimate the benefits if they swap their current policy for a cheaper one.
It’s a great practice to do rate comparisons occasionally due to the fact that insurance prices are constantly changing. If you had the best rates on BMW Z4 insurance in Chicago a few years ago you will most likely find a better rate quote today. There is a lot of wrong information about Z4 insurance on the internet, but we’re going to give you some great ways to quit paying high insurance rates in Chicago.
Choosing the best rates in Chicago is much easier if you have a good place to start. If you are already insured or are shopping for new coverage, you can use these tips to get lower rates and still have adequate protection. Comparison shoppers only have to learn the quickest method to compare price quotes using one simple form.
The car insurance companies shown below offer quotes in Illinois. If several companies are displayed, it’s a good idea that you get rates from several of them to get the most competitive price.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $290 | $462 | $290 | $18 | $88 | $1,148 | $96 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $188 | $342 | $228 | $14 | $68 | $840 | $70 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Rate information does not factor in specific Chicago garaging location which can alter price quotes substantially.
Where to set your deductibles
When buying auto insurance, a common question is how high should the physical damage deductibles be. The premium rates below may aid in understanding the cost difference of buying low and high policy deductibles. The first table uses a $100 physical damage deductible and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $282 | $550 | $222 | $14 | $66 | $1,159 | $97 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $282 | $550 | $222 | $14 | $66 | $1,159 | $97 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $206 | $372 | $222 | $14 | $66 | $880 | $73 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $206 | $372 | $222 | $14 | $66 | $880 | $73 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Illinois minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Prices do not factor in specific location information which can influence prices considerably.
Based on this data, using a $100 deductible will cost you approximately $24 more each month or $288 for a full year than choosing the higher $500 deductible. Since you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average more than 17 months between claim filings, you would save more money if you elect the higher deductible.
How to determine when to raise your deductibles
| Average monthly premium for $100 deductibles: | $97 |
| Average monthly premium for $500 deductibles (subtract): | – $73 |
| Monthly savings from raising deductible: | $24 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $24 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 17 months |
One important caveat is that a higher deductible level means you will have to pay more when you have a comprehensive or collision claim. That will require access to more funds in order to pay the deductible for vehicle repair.
Rate comparison of males versus females
The illustration below visualizes the comparison of BMW Z4 insurance prices for male and female drivers. The costs are based on no violations or claims, full coverage, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Insurance does more than just repair your car
Despite the high insurance cost for a BMW Z4 in Chicago, insuring your vehicle may be required for several reasons.
- Most states have mandatory insurance requirements which means it is punishable by state law to not carry a minimum amount of liability protection if you drive a vehicle. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a loan on your BMW, it’s most likely the lender will make it mandatory that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may insure your BMW at a much higher premium rate and require you to reimburse them for the much more expensive policy.
- Insurance preserves both your BMW Z4 and your personal assets. Insurance will also pay for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability insurance also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of insuring your Z4 more than offset the price you pay, particularly if you ever have a claim. On average, a vehicle owner in Chicago is currently overpaying as much as $750 every year so compare quotes from several companies at least once a year to save money.
Will you really save $453 on insurance?
Consumers can’t avoid all the ads that promise big savings by GEICO, State Farm and Progressive. They all seem to tend to make the same promise that people will save if you get a free Chicago auto insurance quote and switch your policy.
How is it plausible that every one can sell you cheaper insurance coverage?
Most companies have an ideal profile for the type of customer that earns them the highest profit. For instance, a profitable insured might have to be over age 30, has no driving citations, and chooses high deductibles. Any customer who fits that profile will get a cheap rate quote in Chicago and most likely will save quite a bit of money when switching.
Insureds who fall outside this stringent profile will have to pay more expensive rates and this results in the customer buying from someone else. If you listen to the ad wording, they say “customers who switch” not “everybody who quotes” can get the lowest rates when switching. That is how companies can truthfully make claims like that. Because every company is different, you really need to compare many company’s premium rates. It’s just too difficult to predict which insurance company will provide you with the cheapest BMW Z4 insurance in Chicago.
Lower rates by qualifying for discounts
Auto insurance companies don’t list every possible discount in an easy-to-find place, so here is a list some of the more common in addition to some of the lesser obvious savings tricks you should be using when you buy Chicago auto insurance online.
- Discounts for New Vehicles – Buying a new car model can be considerably cheaper since newer models have better safety ratings.
- Payment Discounts – By making one initial payment instead of making monthly payments you can avoid monthly service charges.
- Save over 55 – Older drivers are able to get a small discount on rates.
- Accident Forgiveness – This isn’t a discount exactly, but companies like GEICO, Allstate and Liberty Mutual will allow you to have one accident without getting socked with a rate hike if you are claim-free prior to the accident.
- Good Drivers – Drivers without accidents may save up to 50% more than their less cautious counterparts.
- Bundle and Save – If you insure your home and vehicles with one company you may earn nearly 15% which can help you find low cost BMW Z4 insurance.
- Include Life Insurance and Save – Select car insurance companies reward you with a discounted price on car insurance if you buy life insurance.
- Discounts for Seat Belt Usage – Requiring all passengers to buckle up could cut 10% or more on the medical payments or PIP coverage costs.
- Air Bag Discount – Factory options such as air bags or motorized seat belts can qualify for discounts of 20% or more.
- Good Grades Discount – This discount can get you a discount of up to 25%. The discount lasts up until you turn 25.
As is typical with insurance, some credits don’t apply to the entire policy premium. Most only apply to individual premiums such as medical payments or collision. So despite the fact that it appears it’s possible to get free car insurance, insurance companies wouldn’t stay in business. Any qualifying discounts should definitely cut the cost of coverage.
A list of companies and their offered discounts are detailed below.
- State Farm may have discounts that include Drive Safe & Save, good driver, multiple autos, student away at school, safe vehicle, and passive restraint.
- GEICO discounts include air bags, multi-vehicle, good student, emergency military deployment, driver training, and daytime running lights.
- Allstate offers discounts for premier plus, good payer, farm vehicle, good student, FullPay discount, and new car.
- SAFECO has discounts for drive less, anti-theft, multi-car, teen safe driver, teen safety rewards, and homeowner.
- Farm Bureau includes discounts for driver training, youthful driver, safe driver, good student, and 55 and retired.
- Progressive may offer discounts for online quote discount, homeowner, online signing, good student, and multi-policy.
- AAA offers discounts including good driver, multi-car, pay-in-full, multi-policy, and education and occupation.
When getting free Chicago auto insurance quotes, it’s a good idea to each company or agent how you can save money. All car insurance discounts might not be offered on policies in every state. For a list of insurance companies who offer discounts in Illinois, follow this link.
Get rate quotes but buy from a neighborhood Chicago auto insurance agent
Many people would prefer to talk to an insurance agent and that is a smart decision Good insurance agents can help you choose the best coverages and help you file claims. A good thing about price shopping on the web is that you can find the best rates and still choose a local agent.
To find an agent, once you fill out this short form, your insurance coverage information is emailed to insurance agents in Chicago that give free quotes for your insurance coverage. You don’t have to leave your computer because prices are sent to you. If you wish to quote rates from a specific insurance provider, just jump over to their website to submit a rate quote request.
Finding a good provider should include more criteria than just a cheap quote. Some important questions to ask are:
- Do they specialize in personal lines coverage in Chicago?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Is coverage determined by price?
- Can they provide you with a list of referrals?
- How much training do they have in personal risk management?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
The following is a short list of insurers in Chicago that may be willing to give rate quotes for BMW Z4 insurance in Chicago.
- ABI Insurance Agency
4806 N Milwaukee Ave – Chicago, IL 60630 – (773) 202-9666 – View Map - Judith Gleason – State Farm Insurance Agent
2643 N Harlem Ave – Chicago, IL 60707 – (773) 637-8547 – View Map - American Auto Insurance
3201 N Harlem Ave #1 – Chicago, IL 60634 – (773) 286-3500 – View Map - Illinois Vehicle Auto Insurance
100 W. Randolph, Suite C14 – Chicago, IL 60601 – (312) 201-9111 – View Map
Do the work, save more money
Affordable BMW Z4 insurance in Chicago can be sourced online in addition to local insurance agencies, so you should compare both so you have a total pricing picture. Some car insurance companies do not offer online price quotes and usually these smaller companies prefer to sell through independent agencies.
In this article, we covered quite a bit of information on how to lower your BMW Z4 insurance premium rates in Chicago. It’s most important to understand that the more rate quotes you have, the better chance you’ll have of finding inexpensive Chicago auto insurance quotes. You may even be surprised to find that the lowest premium rates are with some of the lesser-known companies.
When searching for affordable Chicago auto insurance quotes, it’s very important that you do not sacrifice coverage to reduce premiums. There are too many instances where drivers have reduced uninsured motorist or liability limits only to discover later they didn’t have enough coverage. Your aim should be to buy the best coverage you can find for the lowest price.
Helpful articles
- Insurance Losses by Make and Model (iihs.org)
- Who Has Affordable Car Insurance Rates for a Hyundai Elantra in Chicago? (FAQ)
- What is the Best Car Insurance in Chicago, IL? (FAQ)
- Who Has Affordable Car Insurance for Drivers Over Age 70 in Chicago? (FAQ)
- Who Has Affordable Car Insurance Quotes for a GMC Sierra in Chicago? (FAQ)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Car Insurance: When not to Skimp (BankRate.com)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Understanding Limits and Deductibles (Allstate)