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Are you the proud owner of a BMW i3 electric (or hybrid) vehicle? Well, if that’s the case, you may not be so proud of the price tag on your monthly auto insurance premiums. Unfortunately, the insurance industry has not yet caught up with technology, and still considers electric cars to be riskier than their gasoline-powered alternatives. Because of this, and the fact that BMW is a luxury brand, you may be paying a pretty high price for your coverage. But that doesn’t mean that finding an affordable rate is impossible. We’re here to help show you how you can get the lowest possible price on your BMW i3 auto insurance.
The BMW i3 b-class hatchback is a high-profile hybrid in BMWs extensive vehicle fleet. It has been in production since 2013, and first started selling its models to the public in 2014. BMW proudly boasts that this was their first zero-emissions vehicle. The i3 engine comes in a variety of battery sizes. However, some models can include an optional gasoline engine which will extend the vehicle’s range capacity, but it will come at a price – both financially, and as far as its zero mission status is concerned.
Despite winning a 10 million dollar bid to help the Los Angeles police force go green with a new fleet of i3 vehicles, there are reports that most officers choose not to drive the cars. Some blame the limited range of the vehicle, while others may have their own personal reasons and opinions of electric vehicles in general. Furthermore, rumors are swirling that BMW may choose not to develop a second generation of either the i3 or it’s big brother, the i8. However, BMW is choosing to forego a 2nd generation of these electric cars in favor of expanding their operations into new electric models, including crossover SUVs and luxury sedans.
Depending on where you live, finding a low rate on BMW i3 car insurance could be quite simple – or it could be an unfortunate nightmare. If you’re jumping on the electric car bandwagon because you live in a large city where electric cars are popular, the high population rates and higher possibility of theft maybe a sign of risk that your insurance company doesn’t like. Or you may be a pioneer living in a more rural area trying to start an electric car trend in your city. Even though you’re driving and expensive, technologically advanced vehicle, the low population density and infrequent rate of accidents could help you get a more affordable premium.
But it isn’t all about the city you live in, or the zip code where you park your vehicle on most nights. The insurance company which underwrites your coverage could mean the difference between a cheap policy and a wallet-breaking financial burden. If there are many different auto insurance companies in your area to pick from, you have more leverage when it comes to pitting them against each other to get a more competitive rate. But even in areas where there is less competition between providers, comparing quotes from at least three different insurers can help you save at least 24% or more on an annual basis.
General trends in the auto insurance industry show that electric cars are much more popular with younger drivers, as opposed to older motorists who are set in their ways and prefer to fuel their vehicle at a traditional gas station. Unfortunately, the younger you are, the more likely you are to get charged a higher rate for your premium. Even the difference between a 25 and a 35 year old driver – especially with a luxury vehicle that also runs on electric instead of gas – can mean a substantial difference in your premium costs.
Unfortunately, there are many perceived risks associated with driving both a luxury vehicle and an electric car which can prompt your insurance provider to charge you more than other drivers. This is compounded by the fact that the BMW i3 is both. But if you want to get the best deal, you have to do yourself a favor and shop around for different quotes. Not all auto insurance companies will charge you the same rate, so you have to do a little research in order to get the best deal. Fortunately, we make that work easier for you by providing drivers like you quick and easy quotes in just a matter of minutes! if you give us a chance, we can help you start saving money today.