2016 BMW M3 Car Insurance Quotes – 5 Ideas for Cheaper Rates

No one is fond of buying car insurance, in particular when the prices are way too high.

Big companies like Geico, Progressive and Allstate promote their brand names with catchy ads and it is difficult to see past the corporate glitz and effectively compare rates to find the best deal.

If you are paying for car insurance now, you will most likely be able to cut costs considerably using these tips. Choosing the best insurance company for you is not rocket science. But consumers can benefit by having an understanding of the way insurance companies price insurance differently and use this information to your advantage.

Where can I get low cost insurance?

Most of the larger companies like State Farm, Geico and Progressive make it easy to get insurance quotes directly from their websites. Obtaining pricing doesn’t take a lot of time as you simply enter your coverage information as requested by the quote form. When complete, their quoting system requests reports for credit and driving violations and generates pricing information based on the data you entered. Being able to quote online streamlines rate comparisons, but the time required to go to many different websites and type in your information gets old quite quickly. But it’s also necessary to perform this step if you are searching for the lowest insurance rates.

A better way to compare rates makes use of a single form to get prices from multiple companies. The form is fast, eliminates form submissions, and makes online price comparison much more enjoyable. After sending the form, your coverage is rated and you can choose any one of the price quotes you receive. If the quotes result in lower rates, you can click and sign and buy the policy. It can be completed in a matter of minutes and you’ll know if lower rates are available.

To find out what other companies charge, click here to open in a new tab and fill out the form. If you have your current policy handy, we recommend you copy deductibles and limits as shown on your current policy. This ensures you will receive rate comparison quotes based on similar coverages.

Cheaper insurance quotes with discounts

Not many people think insurance is cheap, but discounts can save money and there are some available that many people don’t even know exist. A few discounts will be applied when you quote, but a few must be asked about in order for you to get them.

  • Driver Safety – Passing a driver safety class could save 5% or more and also improve your driving technique.
  • Senior Citizen Discount – Drivers that qualify as senior citizens may receive a slight reduction on a insurance coverage quote for M3 insurance.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time rather than paying in monthly installments you can actually save on your bill.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can get savings up to 30%.
  • Discount for Multiple Policies – When you have multiple policies with one insurance company you could earn a discount of up to 20% off your total premium.

Policy discounts save money, but many deductions do not apply to your bottom line cost. Most cut individual premiums such as liability and collision coverage. So when it seems like adding up those discounts means a free policy, it’s just not the way it works.

Some companies that may offer these discounts include:

Double check with every insurance company the best way to save money. Some discounts listed above might not be offered in your area.

Tailor your car insurance coverage to you

When it comes to choosing proper insurance coverage for your personal vehicles, there is no single plan that fits everyone. Everyone’s needs are different so your insurance should reflect that For example, these questions might help in determining if you would benefit from professional advice.

  • Should I buy additional glass protection?
  • Will I lose any money if I cancel my policy before it expires?
  • Do I need to file an SR-22 for a DUI in my state?
  • When does my teenage driver need to be added to my policy?
  • What discounts do I qualify for?
  • Should I have a commercial auto policy?
  • What exactly is covered by my policy?
  • How much can I save by bundling my policies?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Auto insurance 101

Having a good grasp of your car insurance policy helps when choosing appropriate coverage at the best deductibles and correct limits. Car insurance terms can be ambiguous and reading a policy is terribly boring. Shown next are typical coverage types offered by car insurance companies.

Collision insurance

Collision insurance pays for damage to your M3 caused by collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against claims like damaging your car on a curb, scraping a guard rail, driving through your garage door and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. It’s also possible to increase the deductible in order to get cheaper collision rates.

Liability

This provides protection from damages or injuries you inflict on other’s property or people. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.

Liability can pay for things such as repair costs for stationary objects, legal defense fees and bail bonds. How much coverage you buy is your choice, but buy as much as you can afford.

Comprehensive car insurance

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like fire damage, hitting a bird, hail damage and falling objects. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Coverage for medical expenses

Med pay and PIP coverage kick in for short-term medical expenses such as hospital visits, dental work, funeral costs, EMT expenses and X-ray expenses. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Do the work, save more money

Throughout this article, we presented a lot of ways to shop for 2016 BMW M3 insurance online. The key concept to understand is the more companies you get prices for, the better likelihood of getting affordable insurance coverage. Consumers could even find that the lowest premium rates come from some of the lesser-known companies. Smaller companies may have significantly lower prices on certain market segments as compared to the big name companies such as State Farm or Progressive.

The cheapest 2016 BMW M3 insurance can be found both online in addition to many insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some insurance providers do not provide rate quotes online and most of the time these smaller providers only sell coverage through independent insurance agencies.

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