Cheap 2017 BMW M3 Car Insurance Quotes

Trying to find lower insurance rates for your BMW M3? Did you come to the realization that you have high-priced insurance? Say no more because you’re not alone. Lots of auto insurance companies contend to insure your vehicles, so it’s not easy to compare every insurance company and uncover the absolute lowest rate possible.

Verify you’re earning every discount

Auto insurance companies do not list the complete list of policy discounts very clearly, so the following is a list of some of the best known and also the more inconspicuous credits that may apply to you.

  • Safe Drivers – Drivers who avoid accidents can save up to 40% or more on their auto insurance quote for M3 coverage than drivers with accident claims.
  • Theft Prevention System – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and qualify for as much as a 10% discount.
  • No Accidents – Good drivers with no accidents are rewarded with significantly better rates on auto insurance quote compared to drivers who are more careless.
  • New Car Discount – Putting car insurance coverage on a new car is cheaper compared to insuring an older model.
  • Defensive Driver – Completing a course in driver safety could cut 5% off your bill depending on where you live.
  • Multiple Cars – Drivers who insure several vehicles on one policy qualifies for this discount.
  • Own a Home – Simply owning a home may trigger a policy discount on car insurance because owning a home requires personal responsibility.

Drivers should understand that some of the credits will not apply to your bottom line cost. Most cut the cost of specific coverages such as comprehensive or collision. Even though it appears you would end up receiving a 100% discount, it doesn’t quite work that way.

Large car insurance companies and their offered discounts are detailed below.

  • Geico discounts include anti-lock brakes, military active duty, multi-vehicle, anti-theft, and five-year accident-free.
  • SAFECO includes discounts for safe driver, teen safe driver, bundle discounts, teen safety rewards, drive less, anti-lock brakes, and anti-theft.
  • State Farm has discounts for multiple autos, safe vehicle, defensive driving training, good driver, Drive Safe & Save, and driver’s education.
  • MetLife has savings for multi-policy, claim-free, good driver, defensive driver, accident-free, and good student.
  • 21st Century may offer discounts for air bags, early bird, teen driver, homeowners, theft prevention, and anti-lock brakes.
  • Progressive offers premium reductions for continuous coverage, online quote discount, good student, online signing, and multi-vehicle.

Before you buy a policy, ask all companies you are considering which credits you are entitled to. Some of the discounts discussed earlier might not be available to policyholders in every state.

How to compare free insurance coverage quotes

There are several ways to compare insurance coverage prices but some are less time-consuming than others. You can spend your afternoon talking to agents in your area, or you could use the internet to achieve your goal.

Most of the larger companies take part in a program where prospective buyers only type in their quote data once, and each participating company returns a rated price based on the submitted data. This eliminates the need for repetitive form submissions to each individual insurance coverage company.

To find out what other companies charge click here (opens in new window).

The only downside to doing it this way is you don’t know exactly the companies you will receive quotes from. So if you want to choose specific insurance companies to compare, we have a page of companies who write insurance coverage in your area. Click here for list of insurance companies.

Whichever way you choose to compare rates, make sure you compare the exact same coverages and limits with each company. If you use different deductibles it’s not possible to find the best deal for your BMW M3.

What determines BMW M3 insurance premiums?

It’s important that you understand some of the factors that aid in calculating your policy premiums. When consumers understand what determines premiums, this allows you to make good choices that will entitle you to lower premium levels. Lots of factors are taken into consideration when you get a price on insurance. Most are fairly basic such as your driving history, although others are more transparent such as whether you are married or how safe your car is.

Listed below are some of the factors used by insurance companies to determine rates.

  • Get a ticket, pay higher rates – Being a careful driver has a huge affect on how much you pay. Even one citation may increase your cost substantially. Attentive drivers get better prices compared to drivers with tickets. Drivers who have gotten serious tickets like DUI, reckless driving or excessive speeding may find they need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to prevent their license from being revoked.
  • No policy lapses saves money – Going without insurance can be a sure-fire way to bump up your insurance costs. Not only will you pay higher rates, not being able to provide proof of insurance could earn you a revoked license or a big fine.
  • Gender impacts prices – Statistics have proven that females take fewer risks when driving. That doesn’t necessarily mean that women are better drivers. Both genders have accidents at a similar rate, but the males have costlier accidents. Men also statistically get cited for more serious violations like reckless driving and DUI.
  • High physical damage deductibles reduce prices – Physical damage insurance, also known as collision and other-than-collision, insures against damage to your BMW. Some examples of claims that would be covered would be running into the backend of another car, hitting a deer, and damage from a fallen tree branch. Your deductibles define the amount the insured will be required to pay before a claim is paid by your company. The larger the amount the insured is willing to pay, the better rate you will receive for M3 coverage.
  • Do you really need the add-on coverages? – Insurance companies have many additional coverages you can purchase if you aren’t careful. Coverages like rental car coverage, accidental death, and term life insurance may not be needed and are just wasting money. These coverages may sound good when buying your policy, but your money might be better spent on other coverage so eliminate them to save money.
  • Teenagers are high risk – More experienced drivers are more responsible, cause fewer claims and accidents and are safer drivers.Teen drivers are known to be easily distracted with other occupants in the car so insurance rates are higher.

When should I discuss my situation with an agent?

When it comes to buying the right insurance coverage, there really is no cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine whether your personal situation might need professional guidance.

  • Can my teen driver be rated on a liability-only vehicle?
  • Is a fancy paint job covered?
  • Will my insurance pay for OEM parts?
  • What should my uninsured motorist coverage limits be in my state?
  • Am I covered when pulling a rental trailer?
  • Who is covered when they drive my 2017 BMW M3?
  • Do I have coverage when making deliveries for my home business?

If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area. It is quick, free and you can get the answers you need.

Ads can be misleading

Consumers constantly see and hear ads that claim the best prices from companies such as State Farm and Allstate. All the ads have a common claim about saving some big amount if you change your policy.

How is it plausible that every one can charge lower premium rates? It’s all in how they say it.

All the different companies have a preferred profile for the type of driver that earns them the most money. One example of a desirable insured should be between 30 and 50, insures multiple vehicles, and drives a safe vehicle. Anybody that hits that “sweet spot” will most likely get cheap prices and most likely will save when switching.

People who do not fit these stringent criteria will be quoted higher premiums and ends up with the driver buying from a lower-cost company. The trick companies use is to say “drivers that switch” but not “everyone who gets a quote” save that much when switching. This is how insurance companies can confidently lure you into getting a quote.

Because of this risk profiling, you need to get as many free auto insurance quotes as possible. Because you cannot predict which company will be your best fit.

Auto insurance coverage considerations

Having a good grasp of your auto insurance policy aids in choosing the right coverages and proper limits and deductibles. Policy terminology can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages found on the average auto insurance policy.

Collision protection

This pays for damage to your M3 from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like scraping a guard rail, crashing into a building and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to increase the deductible to get cheaper collision coverage.

Protection from uninsured/underinsured drivers

This gives you protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is very important. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Liability coverage

Liability coverage will cover damages or injuries you inflict on other’s property or people. It protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 100/300/100 which means a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is 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 things like court costs, repair bills for other people’s vehicles, medical expenses and bail bonds. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.

Comprehensive (Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as a broken windshield, a tree branch falling on your vehicle, hitting a bird and hail damage. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Medical expense insurance

Medical payments and Personal Injury Protection insurance pay for bills for things like surgery, hospital visits, ambulance fees, funeral costs and chiropractic care. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Save your hard earned cash

As you restructure your insurance plan, don’t be tempted to skimp on coverage in order to save money. In many cases, someone sacrificed comprehensive coverage or liability limits and discovered at claim time that the savings was not a smart move. The goal is to find the BEST coverage for the lowest cost and still be able to protect your assets.

The cheapest 2017 BMW M3 insurance can be bought from both online companies and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies may not have online rate quotes and these smaller companies sell through local independent agents.

We just presented many tips how you can lower your 2017 BMW M3 insurance rates. It’s most important to understand that the more times you quote, the higher the chance of saving money. Consumers may even find the best rates are with a lesser-known regional company. These companies may often insure only within specific states and give getter rates compared to the large companies like State Farm or Progressive.

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