Cheaper 2015 BMW M3 Car Insurance Rates

Scraping up a payment for overpriced BMW M3 insurance can overdraw your personal savings and make it impossible to make ends meet. Comparing price quotes is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.

Insurance companies such as State Farm and GEICO promote their brand names with ad campaigns and consumers find it hard to ignore the propoganda and take the time to shop coverage around.

Don’t overlook these discounts

Companies that sell car insurance don’t always list all their discounts very well, so we researched both the well known and also the lesser-known car insurance savings.

  • Defensive Driver – Taking part in a course teaching defensive driving skills can save you 5% or more and easily recoup the cost of the course.
  • 55 and Retired – Mature drivers may receive a small decrease in premiums on M3 coverage.
  • Organization Discounts – Being a member of a civic or occupational organization could trigger savings on your policy on M3 coverage.
  • Homeowners Discount – Owning a home can help you save on car insurance because maintaining a house shows financial diligence.
  • Distant Student – Any of your kids living away from home attending college and don’t have a car can receive lower rates.
  • E-sign – Certain companies may give you up to $50 for buying a policy and signing up over the internet.
  • Multiple Policy Discount – If you insure your home and vehicles with the same company you will save approximately 10% to 15%.
  • Discount for New Cars – Adding a new car to your policy can cost up to 25% less due to better safety requirements for new cars.

As a disclaimer on discounts, most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like comp or med pay. Just because it seems like adding up those discounts means a free policy, companies wouldn’t make money that way.

Insurance companies that may have these money-saving discounts are:

It’s a good idea to ask each insurance company which discounts they offer. All car insurance discounts may not be available everywhere.

Comparison of Auto Insurance

The are a couple different ways to get quotes from local auto insurance companies. The recommended way to find the cheapest 2015 BMW M3 insurance rates is simply to get online rate quotes. This can be accomplished in just a few minutes using one of these methods.

  1. The recommended way to compare a lot of rates at once would be an industry-wide quote request form click to view form in new window. This easy form saves time by eliminating repetitive form submissions to each individual auto insurance company. A single, simple form gets you coverage quotes direct from many companies.
  2. A less efficient way to compare rate quotes consists of visiting the website of each company to complete a price quote. For example, let’s assume you want comparison quotes from USAA, 21st Century and GEICO. To get each rate you have to go to every website and enter your policy data, which is why the first method is quicker.

    For a handy list of car insurance company links in your area, click here.

It’s up to you how you get prices quotes, just ensure you’re using apples-to-apples coverages with every price quote. If you are comparing different values for each quote then you won’t be able to determine which rate is truly the best. Having just a slight variation in coverages may result in large price differences. And when quoting auto insurance, remember that comparing a large number of companies helps locate lower pricing.

Is my situation unique?

When it comes to choosing the right insurance coverage, there isn’t really a cookie cutter policy. Each situation is unique so your insurance should reflect that Here are some questions about coverages that can help discover if you could use an agent’s help.

  • Do I need added coverage for expensive stereo equipment?
  • Where can I get insurance after a DUI in my state?
  • Is other people’s property covered if stolen from my vehicle?
  • Is extra glass coverage worth it?
  • Is my 2015 BMW M3 covered for smoke damage?
  • When does my teenage driver need to be added to my policy?
  • Should I buy more coverage than the required minimum liability coverage?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.

Insurance coverage considerations

Knowing the specifics of your policy helps when choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement. Shown next are typical coverages offered by insurance companies.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage kick in for bills such as chiropractic care, dental work and X-ray expenses. They are used to fill the gap from your health insurance plan or if there is no health insurance coverage. It covers both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Liability – Liability coverage will cover damage or injury you incur to people or other property that is your fault. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 100/300/100 which means a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims like emergency aid, medical services, court costs, attorney fees and medical expenses. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase higher limits if possible.

Collision – Collision insurance covers damage to your M3 from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as crashing into a building, colliding with another moving vehicle, backing into a parked car and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. You can also choose a higher deductible to bring the cost down.

Comprehensive coverage – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like damage from getting keyed, hitting a deer, a tree branch falling on your vehicle and vandalism. 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 not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage – This provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Smart shoppers get results

In this article, we covered some good ideas how you can get a better price on 2015 BMW M3 insurance. The key concept to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the lowest premiums are with a small local company. Smaller companies may cover specific market segments cheaper as compared to the big name companies such as Allstate and Progressive.

Cheap insurance can be found both online as well as from independent agents, so you should be comparing quotes from both to have the best rate selection. Some companies don’t offer you the ability to get quotes online and these small, regional companies work with independent agents.

For more information, take a look at the resources below: