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BMW M3 Insurance Rates

There are many options when comparing insurance rates on your BMW vehicle. You can either contact an insurance agent or go online to check prices from many different auto insurance companies. Buying auto insurance through online rate quotes can be fast and easy and there is a good chance you may find lower rates.

If you're new to shopping for auto insurance online, you can be overwhelmed by the hoards of companies selling insurance. Finding a better price on auto insurance can be surprisingly simple. Consumers just need to spend a few minutes to compare quotes provided by online insurance companies. This can be accomplished by completing this short form.

Insurance premiums on a BMW M3 will vary greatly depending on several factors. Some of these factors include:

  • Higher performance M3 vehicles cost more
  • Your accident history
  • Multiple policies can save money
  • Pleasure use vs. commuting use
  • Your birth date
  • Having a spouse can save money
  • Extra coverages like towing and rental
  • Whether or not you have claims
  • Having continuous coverage saves you money
  • Whether you own your home

One important consideration that helps determine your rates is the age of the vehicle. New vehicles cost more compared to older BMW models so the cost to replace them will push premiums up. Although newer vehicles have more advanced features included like autonomous braking, automatic crash notification, sideview assist mirrors, and adaptive headlights so those may give discounted rates.

To get a better understanding how much rates will be for your vehicle, select the year of your M3 below.

Auto liability - This coverage can cover damage that occurs to people or other property in an accident. Liability insurance covers things like legal defense fees, bail bonds, and repair bills for other people's vehicles. Coverage is generally pretty cheap so buy as much as you can afford.

Collision coverages - Collision insurance covers damage to your BMW resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in. Collision coverage for your BMW M3 can be pricey, so you might think about dropping it from lower value vehicles. It's also possible to increase the deductible in order to get cheaper BMW M3 insurance rates.

Comprehensive auto coverage - This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay. The maximum amount you'll receive from a claim is the ACV or actual cash value, so if the vehicle's value is low it's probably time to drop comprehensive insurance.

Uninsured and underinsured coverage - Your UM/UIM coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Medical payments and PIP coverage - Coverage for medical payments and/or PIP pay for short-term medical expenses like nursing services, prosthetic devices, and dental work. They are used in conjunction with a health insurance plan or if you are not covered by health insurance. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage.

How Much are BMW M3 Insurance Rates?