2009 BMW M3 Car Insurance Rates – 5 Savings Tips

Searching for cheaper auto insurance rates for your BMW M3? If you are a novice to online auto insurance shopping, there’s a good chance you are confused by the large number of local and online companies offering coverage.

It’s smart to price shop coverage before your next renewal since rates tend to go up over time. Just because you found the best premium rates for M3 insurance last year there may be better deals available now. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to one of the best ways to buy cheaper auto insurance.

Finding affordable coverage is not that difficult. If you have car insurance now, you will be able to reduce your rates substantially using these methods. Although vehicle owners need to have an understanding of how insurance companies sell online and take advantage of how the system works.

The easiest way to compare rates takes advantage of the fact car insurance companies have advanced systems to give rate comparisons. The only thing you need to do is provide the companies a bit of rating information such as what your job is, how you use your vehicles, if the car is leased, and how many miles driven. Your information is automatically sent to many of the top insurers and you get price estimates within a short period of time.

To compare rates now, click here and complete the quick form.

More affordable rates with these five discounts

Companies offering auto insurance don’t always list every possible discount in a way that’s easy to find, so the below list has a few of the more well known in addition to some of the lesser obvious credits available to bring down your rates.

  • Federal Employees – Active or retired federal employment can save as much as 8% for M3 insurance with select insurance companies.
  • Online Discount – Certain companies will provide an incentive shop car insurance online.
  • Multiple Vehicles – Drivers who insure primary and secondary vehicles with the same company can get a discount for every vehicle.
  • Senior Discount – Drivers that qualify as senior citizens can possibly qualify for a small decrease in premiums for M3 insurance.
  • Safety Restraint Discount – Drivers who require all occupants to wear their seat belts may be able to save a few bucks off the medical payments premium.

You can save money using discounts, but most discount credits are not given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like comp or med pay. So even though they make it sound like all those discounts means the company will pay you, car insurance companies aren’t that generous.

A few of the larger companies and some of the premium reductions they offer can be found below.

  • State Farm has savings for multiple policy, accident-free, safe vehicle, student away at school, anti-theft, and multiple autos.
  • Esurance policyholders can earn discounts including online shopper, homeowner, Pac-12 alumni, multi-policy, good driver, DriveSense, and online quote.
  • Progressive may offer discounts for online quote discount, online signing, homeowner, good student, and multi-policy.
  • Liberty Mutual includes discounts for multi-policy, hybrid vehicle, good student, newly retired, multi-car, and preferred payment discount.
  • Auto-Owners Insurance offers discounts including safe vehicle, good student, safe driver, teen driver, mature driver, anti-theft, and student away at school.
  • Geico may include discounts for anti-theft, membership and employees, emergency military deployment, five-year accident-free, multi-vehicle, and good student.

When getting free car insurance quotes, it’s a good idea to each company or agent what discounts are available to you. Savings may not apply in every state. To choose companies who offer free car insurance quotes, click this link.

Insurance coverage can be complex

When it comes to buying coverage for your personal vehicles, there is no “perfect” insurance plan. Every insured’s situation is different.

For example, these questions might point out if you may require specific advice.

  • When should my teen driver be added to my policy?
  • What is medical payments coverage?
  • How can I find cheaper teen driver insurance?
  • What discounts do I qualify for?
  • What is roadside assistance coverage?
  • When should I buy a commercial auto policy?
  • Do I really need UM/UIM coverage?
  • Can I drive in Mexico and have coverage?
  • Where can I get insurance after a DUI in my state?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form.

Coverages available on your insurance policy

Having a good grasp of your policy can be of help when determining the best coverages for your vehicles. Insurance terms can be ambiguous and reading a policy is terribly boring.

Collision protection

This coverage pays for damage to your M3 resulting from a collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like sustaining damage from a pot hole, rolling your car, damaging your car on a curb, hitting a parking meter and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. You can also choose a higher deductible to save money on collision insurance.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP provide coverage for bills such as ambulance fees, pain medications and surgery. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants as well as being hit by a car walking across the street. Personal Injury Protection is not universally available and may carry a deductible

Liability coverages

This can cover injuries or damage you cause to other’s property or people that is your fault. This insurance protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 100/300/100 which means $100,000 bodily injury coverage, $300,000 for the entire accident, and property damage coverage for $100,000.

Liability coverage pays for things such as pain and suffering, structural damage, emergency aid, medical expenses and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible.

Comprehensive coverage

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims such as hitting a bird, hail damage and rock chips in glass. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants and also any damage incurred to your BMW M3.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.