Lower Your 2016 BMW M2 Car Insurance Rates

Looking for better insurance coverage rates? Shoppers have options when shopping for the best price on BMW M2 insurance. They can either waste time calling around getting price quotes or leverage the internet to compare rates.

There are both good and bad ways to find insurance coverage online and we’ll show you the proper way to get price quotes on a BMW and get the best price possible either online or from local insurance agents.

Take advantage of these discounts

Auto insurance companies don’t list every disount available very clearly, so the list below contains a few of the more well known and also the lesser-known ways to save on auto insurance. If you do not check that you are getting every discount you qualify for, you are just wasting money.

  • Early Payment Discounts – By making one initial payment rather than spreading payments over time you can avoid monthly service charges.
  • Multiple Cars – Buying a policy with all your vehicles with the same auto insurance company can reduce rates for all insured vehicles.
  • Air Bags and Passive Restraints – Vehicles equipped with air bags may earn rate discounts of up to 25% or more.
  • Claim-Free Discount – Insureds who avoid accidents and claims pay less compared to frequent claim filers.
  • Military Rewards – Having a deployed family member can result in better auto insurance rates.
  • Switch and Save Discount – Some larger companies give discounts for renewing your policy prior to your current policy expiration. The savings is around 10%.
  • Auto/Home Discount – When you have multiple policies and insure them both with the same insurance company you may earn 10% to 20% off each policy.
  • Anti-lock Brake Discount – Cars and trucks with anti-lock braking systems are safer to drive and earn discounts up to 10%.
  • Low Mileage Discounts – Maintaining low annual mileage may allow you to get lower prices due to less chance of an accident.

While discounts sound great, it’s important to understand that most of the big mark downs will not be given to your bottom line cost. Most only cut individual premiums such as liability, collision or medical payments. So even though you would think all the discounts add up to a free policy, it doesn’t quite work that way. But all discounts will help lower the premium cost.

Some companies that have some of the discounts shown above possibly include:

If you want cheaper insurance quotes, ask each company or agent which credits you are entitled to. A few discounts may not apply to policyholders everywhere. To see a list of auto insurance companies with the best auto insurance discounts, click here to view.

Special considerations

When it comes to choosing the best auto insurance coverage, there is no “perfect” insurance plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that can aid in determining if your situation might need professional guidance.

  • Is pleasure use cheaper than using my 2016 BMW M2 to commute?
  • What if I owe more than I can insure my car for?
  • Can I drive in Mexico and have coverage?
  • Does liability extend to a camper or trailer?
  • Am I covered when driving someone else’s vehicle?
  • Who is covered when they drive my 2016 BMW M2?
  • Is my trailer covered?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. If you don’t have a local agent, fill out this quick form. It’s fast, doesn’t cost anything and may give you better protection.

Big brands don’t always mean big savings

Drivers can’t avoid all the ads that claim the lowest rates by State Farm, Allstate and Geico. They all seem to make the same claim about saving some big amount after switching your coverage.

But how can every company give you a better price? It’s all in how they say it.

All companies have strict underwriting profiles for the type of customer that is profitable for them. For instance, a desirable risk could be between the ages of 30 and 50, has other policies, and has excellent credit. A customer that hits that “sweet spot” will get very good premium rates and will probably save a lot of money.

People who do not match this ideal profile will be quoted higher premiums and this results in business going elsewhere. The trick is to say “people who switch” not “everyone who quotes” save that kind of money. That is how insurance companies can confidently advertise the savings.

Because of this risk profiling, you really need to quote coverage with many companies. It is impossible to predict the company that will have the lowest premium rates for your situation.

Coverage specifics

Learning about specific coverages of your policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Uninsured and underinsured coverage

This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW M2.

Due to the fact that many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Normally the UM/UIM limits are set the same as your liablity limits.

Collision protection

Collision coverage pays for damage to your M2 caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as hitting a parking meter, colliding with another moving vehicle and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses such as rehabilitation expenses, dental work, ambulance fees, pain medications and prosthetic devices. They are used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers you and your occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Liability coverages

This coverage will cover injuries or damage you cause to other people or property. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims like emergency aid, pain and suffering, court costs and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but buy higher limits if possible.

Comprehensive coverages

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like hail damage, damage from getting keyed, fire damage, a tree branch falling on your vehicle and damage from flooding. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

What is YOUR best insurance company?

You just learned a lot of ways to compare 2016 BMW M2 insurance prices online. The most important thing to understand is the more you quote insurance, the better chance you’ll have of finding affordable insurance. Consumers may even find the most savings is with some of the smallest insurance companies.

Consumers change insurance companies for a number of reasons such as being labeled a high risk driver, questionable increases in premium, policy cancellation and even denial of a claim. Regardless of your reason, switching insurance coverage companies is pretty simple and you could end up saving a buck or two.

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. There are a lot of situations where an insured cut collision coverage only to regret that the savings was not a smart move. Your goal is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.

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