2015 BMW M4 Car Insurance Cost

Looking for lower car insurance rates for your BMW M4? Are you overwhelmed by the number of car insurance sources that you can choose from? You have such a vast assortment of sources available that it is a lot of work to find the lowest price.

You need to take a look at other company’s rates at least once a year because car insurance prices are usually higher with each renewal. Just because you found the lowest price on M4 insurance a few years ago other companies may now be cheaper. Ignore everything you know about car insurance because you’re about to learn the things you must know in order to lower your annual insurance bill.

If you are paying for car insurance now, you stand a good chance to be able to save some money using these techniques. This article will tell you the most effective way to quote insurance. But drivers do need to learn the way companies determine prices because it can help you find the best coverage.

Get affordable insurance quotes with discounts

Not too many consumers would say insurance is affordable, but there may be some discounts that can help lower your rates. A few discounts will be applied at the time of purchase, but some need to be asked for before being credited. If they aren’t giving you every credit possible, you’re paying more than you need to.

  • Passive Restraint Discount – Factory air bags or automatic seat belts may get savings of 25 to 30%.
  • Defensive Driving Course – Completing a course teaching safe driver skills could cut 5% off your bill if your company offers it.
  • Savings for New Vehicles – Buying a new car model can cost up to 25% less because new model year vehicles have to meet stringent safety requirements.
  • Early Payment Discounts – If you pay your bill all at once as opposed to paying monthly you can avoid the installment charge.
  • One Accident Forgiven – This one is not really a discount per se, but companies like Allstate, Progressive, and GEICO will forgive one accident before hitting you with a surcharge so long as you are claim-free before the accident.
  • Good Student Discount – Excelling in school can save 20 to 25%. Many companies even apply the discount to college students well after school through age 25.
  • Homeowners Savings – Owning a home can get you a discount because owning a home demonstrates responsibility.
  • Cautious Driver Discount – Accident-free drivers may receive a discount up to 45% on M4 insurance compared to accident prone drivers.
  • Low Mileage Discounts – Maintaining low annual mileage could qualify for better premium rates on cars that stay parked.

A quick disclaimer, some of the credits will not apply to all coverage premiums. Some only reduce individual premiums such as liability, collision or medical payments. So when the math indicates all those discounts means the company will pay you, it just doesn’t work that way. But any discount will positively reduce the amount you pay for coverage.

Companies that may offer quotes with these discounts are:

Before you buy a policy, ask all the companies which credits you are entitled to. Some credits might not be offered on policies in every state. For a list of insurance companies who offer insurance discounts, click here.

How to buy insurance coverage online

To find the best insurance coverage rates, there are several ways to compare quotes from different companies. The best method to lower the rate you pay for BMW M4 insurance is simply to get online rate quotes. This is very easy and can be done in several different ways.

  1. The recommended way consumers can make multiple comparisons is to use a rate comparison form like this one (opens in new window). This easy form eliminates the need for boring form submissions for each price estimate. A single form gets coverage cost estimates direct from many companies. Recommended for those who want to invest the least amount of time.
  2. A more difficult way to compare rate quotes is to manually visit the website for each individual company to complete a price quote. For example, let’s say you want rates from GEICO, State Farm and GMAC. To do that, you would have to take the time to go to each site and enter your policy data, which explains why we recommend starting with the first method. For a list of links to companies insuring cars in your area, click here.

It doesn’t matter which method you choose, just double check that you are using the same coverage limits and deductibles with every price quote. If you are comparing different values for each quote you can’t possibly truly determine the lowest rate. Quoting even small variations in insurance coverages can result in a big premium difference. And when quoting insurance coverage, remember that getting more free quotes helps locate better pricing.

Informed drivers know how to find car insurance more affordably

Multiple criteria are part of the calculation when quoting car insurance. Some factors are common sense such as your driving record, but others are less apparent like your vehicle usage or how safe your car is.

Shown below are some of the items car insurance companies consider when setting prices.

  • Never allow your car insurance policy to lapse – Letting your insurance expire can be a fast way to pay more for car insurance. And not only will insurance be more expensive, being ticketed for driving with no insurance might get you a hefty fine and possibly a revoked license. Then you may be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.
  • Occupation reflects on rates – Do you have a high-stress occupation? Careers such as judges, architects and medical professionals tend to pay higher premium rates due to intense work requirements and long work days. On the flip side, careers such as farmers, athletes and retirees receive lower rates on M4 insurance.
  • Vehicle theft costs us all – Buying a car that has a built-in theft deterrent system can help bring down rates. Theft prevention features like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop car theft and help bring rates down.
  • How old are your drivers? – Older, more experienced drivers are proven to be safer behind the wheel, cause fewer claims and accidents and receive fewer citations.Drivers with little experience are proven to be inattentive when driving so they pay higher car insurance rates.
  • Amount of liability protection – Your car insurance policy’s liability coverage kicks in if you are determined to be liable for damages from an accident. Liability provides legal defense up to the limits shown on your policy. This coverage is relatively inexpensive compared to comp and collision, so drivers should make sure they buy enough to cover all assets.

Tailor your insurance coverage to you

When buying the best insurance coverage for your vehicles, there is no “best” method to buy coverage. Every situation is different.

These are some specific questions might help in determining if your insurance needs would benefit from professional advice.

  • Do I need roadside assistance coverage?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Which is better, split liability limits or combined limits?
  • Will my insurance pay for OEM parts?
  • Does my liability insurance cover pulling a trailer or camper?
  • Is my BMW M4 covered if I use it for business?
  • Am I covered when driving someone else’s vehicle?
  • What discounts do I qualify for?
  • Where can I find high-risk insurance?
  • Who is covered when they drive my 2015 BMW M4?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form.

Auto insurance advertisements

State Farm, GEICO and Progressive seem to constantly run ads on TV and radio. They all seem to make the point about how much you will save if you get a free insurance coverage quote and switch to their company. But how can every company offer you a better deal? This is the way they can do it.

Most companies look for specific characteristics for the type of driver that earns them a profit. An example of a preferred risk might have to be between 25 and 40, owns their home, and has a high credit rating. Anyone that matches those criteria will get low car insurance rates and therefore will save some money.

People who cannot meet these criteria will see higher premium rates and this results in the customer buying from a different company. Company advertisements say “customers who switch” not “everyone that quotes” save money. That’s the way companies can truthfully advertise the savings.

This illustrates why drivers must do a quote comparison often. It’s just too difficult to predict which auto insurance company will provide the lowest premium rates.

Car insurance 101

Knowing the specifics of car insurance can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Collision protection

Collision coverage will pay to fix damage to your M4 from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as colliding with another moving vehicle, sustaining damage from a pot hole, rolling your car and hitting a parking meter. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to raise the deductible in order to get cheaper collision rates.

Medical expense coverage

Med pay and PIP coverage reimburse you for bills like nursing services, prosthetic devices and pain medications. The coverages can be used to fill the gap from your health insurance program or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Liability

This coverage will cover damage or injury you incur to a person or their property in an accident. This coverage protects you against other people’s claims, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Another option is a combined limit which provides one coverage limit without having the split limit caps.

Liability can pay for claims like legal defense fees, funeral expenses, pain and suffering, bail bonds and structural damage. How much liability should you purchase? That is your choice, but consider buying as high a limit as you can afford.

Uninsured or underinsured coverage

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as damage to your BMW M4.

Because many people 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. Most of the time these limits do not exceed the liability coverage limits.

Comprehensive protection

This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims like hitting a deer, fire damage, a tree branch falling on your vehicle and vandalism. The maximum amount a car insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Summing up your auto insurance search

As you go through the steps to switch your coverage, don’t be tempted to buy less coverage just to save a little money. In many instances, an insured dropped comprehensive coverage or liability limits to discover at claim time that it was a big mistake. Your strategy should be to buy the best coverage you can find for the lowest cost while still protecting your assets.

In this article, we covered a lot of techniques to shop for 2015 BMW M4 insurance online. It’s most important to understand that the more price quotes you have, the better likelihood of getting the cheapest insurance coverage. You may be surprised to find that the best prices are with a company that doesn’t do a lot of advertising.

Cheap 2015 BMW M4 insurance is possible on the web and also from your neighborhood agents, and you need to price shop both in order to have the best price selection to choose from. There are still a few companies who may not provide rates over the internet and these regional carriers only sell through independent insurance agents.

Other resources