2015 BMW M3 Insurance Quotes – 5 Ways to Save

Want the cheapest auto insurance rates? Drivers have many options when trying to find the best price on BMW M3 insurance. They can either waste time struggling with agents getting price quotes or utilize the internet to find the lowest rates. There are both good and bad ways to find auto insurance online and you need to know the best way to price shop coverage for your BMW and obtain the best price possible either online or from local insurance agents.

It’s a good habit to compare prices on a regular basis since insurance rates tend to go up over time. Just because you found the lowest rate on M3 coverage a couple years back you can probably find a better price now. There is a lot of wrong information about auto insurance on the web, but I’m going to show you a lot of great tips on how to find affordable auto insurance.

Low cost auto insurance

There are a variety of methods to compare auto insurance quotes, but there is one way that is less time-consuming than others. You can spend countless hours discussing policy coverages with insurance companies in your area, or you can stay home and use online quotes to accomplish the same thing much quicker.

Most of the best insurance companies are enrolled in a marketplace where prospective buyers enter their policy data once, and at least one company can provide price quotes based on that data. This eliminates the need for quote requests to each company.

To submit your quote information now, click here (opens in new window).

The only drawback to using this type of form is you are unable to specify which carriers you want to price. So if you prefer to choose from a list of companies for rate comparison, we have assembled a list of low cost auto insurance companies in your area. Click here to view list.

It doesn’t matter which method you choose, just make absolute certain that you use nearly identical quote data for every quote you compare. If you have different deductibles you can’t possibly determine the lowest rate for your BMW M3.

Discount insurance coverage quotes

Some insurance providers don’t always publicize the complete list of policy discounts very clearly, so the below list has both well-publicized as well as the least known credits available to you. If you are not receiving all the discounts you deserve, you are paying more than you should be.

  • Low Mileage Discounts – Maintaining low annual mileage can earn discounted premium rates on garaged vehicles.
  • No Claim Discounts – Drivers who don’t have accidents can earn big discounts in comparison to accident-prone drivers.
  • Safety Course Discount – Taking time to complete a course in safe driver could save 5% or more and easily recoup the cost of the course.
  • Sign Early and Save – Some insurance coverage companies provide a discount for switching companies prior to the expiration date on your current policy. You may see this discount when you get insurance coverage quotes online.
  • ABS Brakes – Anti-lock brake equipped vehicles prevent accidents and qualify for as much as a 10% discount.

As a disclaimer on discounts, most discount credits are not given to the entire cost. Most only cut individual premiums such as liability and collision coverage. So when it seems like you could get a free insurance coverage policy, companies wouldn’t make money that way. But any discount will bring down your premiums.

A list of insurance coverage companies and a partial list of their discounts can be read below.

  • 21st Century discounts include anti-lock brakes, driver training, good student, theft prevention, air bags, and student driver.
  • State Farm has discounts for accident-free, multiple autos, passive restraint, safe vehicle, defensive driving training, Drive Safe & Save, and Steer Clear safe driver discount.
  • AAA may have discounts that include good student, anti-theft, multi-car, good driver, and AAA membership discount.
  • Liberty Mutual offers premium reductions for newly married, multi-policy, new vehicle discount, new move discount, exclusive group savings, preferred payment discount, and new graduate.
  • Progressive may offer discounts for multi-vehicle, good student, online quote discount, continuous coverage, multi-policy, and online signing.

Before purchasing a policy, check with each insurance company to give you their best rates. A few discounts might not be available to policyholders in your area. If you would like to see a list of insurers that offer multiple discounts, click here to view.

Tailor your insurance coverage to you

When choosing the right insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Every insured’s situation is different.

These are some specific questions may help you determine if you may require specific advice.

  • What is covered by UM/UIM coverage?
  • Exactly who is provided coverage by my policy?
  • What is an SR-22 filing?
  • Am I covered if my car is in a flood?
  • Does my car insurance cover rental cars?
  • How can I get my company to pay me more for my totalled car?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Am I covered if I hit my neighbor’s mailbox?

If it’s difficult to answer those questions then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete this short form. It’s fast, doesn’t cost anything and can provide invaluable advice.

What auto insurance coverages do you need?

Knowing the specifics of auto insurance helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Collision coverage – This pays for damage to your M3 resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things like hitting a parking meter, colliding with another moving vehicle and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your BMW M3.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is very important.

Comprehensive auto coverage – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as hitting a deer, damage from flooding, a broken windshield and falling objects. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Auto liability insurance – Liability coverage protects you from damage that occurs to other’s property or people in an accident. This coverage protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as court costs, repair bills for other people’s vehicles and bail bonds. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as EMT expenses, surgery, ambulance fees and prosthetic devices. The coverages can be used in conjunction with a health insurance program or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Pennies from heaven

When getting insurance coverage quotes online, it’s very important that you do not buy poor coverage just to save money. In many cases, someone dropped collision coverage and discovered at claim time that it was a big mistake. Your objective should be to buy enough coverage at the best cost, but don’t skip important coverages to save money.

Cheaper 2015 BMW M3 insurance is available online as well as from independent agents, and you should be comparing both to have the best chance of lowering rates. A few companies may not have the ability to get a quote online and these regional carriers only sell coverage through local independent agencies.

Insureds switch companies for a variety of reasons including an unsatisfactory settlement offer, lack of trust in their agent, poor customer service or even delays in paying claims. No matter why you want to switch, finding a new company is pretty simple and you could end up saving a buck or two.

To learn more, take a look at the resources below: