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BMW M3 Insurance Rates

There are many options when buying insurance for your BMW vehicle. You can buy from your neighborhood insurance agent or go online to compare pricing from many different companies. Buying car insurance from online companies can be fast and easy and there is a good chance you will probably save money.

If you're new to shopping for car insurance online, you can be overwhelmed by the hoards of companies competing for your business. To find the best car insurance prices, there are several ways to compare rate quotes from local car insurance companies. The recommended way to find the lowest BMW M3 insurance cost is to get quotes online. This can be accomplished by visiting this page.

Insurance rates on a BMW M3 can vary widely depending on several factors. Some of these factors include:

  • Higher performance M3 vehicles cost more
  • Any accidents you may have
  • Multiple policies can save money
  • Pleasure use vs. commuting use
  • Extra coverages like towing and rental
  • Your profession
  • Your coverage level
  • Whether you own your home

One last important factor that helps determine the rate you pay on your BMW is the year of manufacture. Older models cost less so the cost to replace them may result in lower rates. On the flip side, new BMW models may have options like lane departure warning system, dual-stage airbags, and pedestrian detection which can provide discounts that lower premiums.

For you to have a better understanding of how much rates will be for your vehicle, select the year of your M3 below.

Liability coverage - This coverage provides protection from damage that occurs to people or other property in an accident. Liability coverage pays for things like legal defense fees, bail bonds, and repair bills for other people's vehicles. Coverage is generally pretty cheap so purchase higher limits if possible.

Collision coverage - Collision insurance pays to fix your vehicle from damage resulting from a collision with another car or object. You will need to pay your 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 vehicles that are 8 years or older. Another option is to choose a higher deductible to get cheaper BMW M3 insurance rates.

Comprehensive coverage - This coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage. The maximum payout you'll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage - Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Since many drivers only purchase the least amount of liability that is required, it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage is very important.

Medical payments coverage and PIP - Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like nursing services, prosthetic devices, and dental work. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Personal Injury Protection is not universally available but can be used in place of medical payments coverage.

How Much are BMW M3 Insurance Rates?