1998 BMW M3 Insurance Quotes

Want the cheapest car insurance rates for your BMW M3? Are you drained from not being able to scrape enough together each month for car insurance? Your situation is no different than many other drivers.

Big-name insurance companies like Progressive, Geico and Farmers Insurance all promote huge savings with fancy advertisements and it is challenging if not impossible to see past the corporate glitz and find the best price available.

You need to take a look at other company’s rates periodically since prices tend to go up over time. Even if you got the best rates on M3 coverage last year you will most likely find a better rate quote today. Ignore everything you know about car insurance because I’m going to teach you how to quote online to lower your annual insurance bill.

How to get auto insurance price quotes

To find the best auto insurance rates, there are several ways to obtain and compare prices from companies that offer auto insurance in your state. The easiest way to find the lowest 1998 BMW M3 rates consists of obtaining rate quotes online. This can be done using a couple different methods.

• The fastest and easiest way to compare a lot of rates at once would be an industry-wide quote request form (click to open form in new window). This style of form prevents you from having to do repetitive form entry for every prospective company. One quote request gets you price quotes from multiple companies.
• Another way to compare prices requires visiting the website for every company you want to comare and get a separate price quote. For examples sake, let’s assume you need rates from Allstate, Farmers and Liberty Mutual. To do that, you would have to spend time on each company’s site to enter your coverage information, which can get rather old.

  For a list of companies in your area, click here.

• The hardest way to get price estimates is driving around to local insurance agencies. Comparing rate quotes online makes this unnecessary unless you have a complicated situation and need the trained guidance of a local agent. It is possible with some companies price shop your coverage online but purchase the actual policy in an agency.

It’s up to you which method you use, but make sure you compare the exact same coverage information for each price quote. If the quotes have different data it will be next to impossible to determine the best price for your BMW M3. Having just a slight variation in limits can mean a large discrepancy in price. It’s important to know that comparing more quotes provides better odds of finding a lower rate. Not every company does quotes online, so you also need to get rates on coverage from those companies, too.

Smaller companies may have the best rates

Auto insurance providers like State Farm and Allstate consistently run ads in print and on television. All the companies make the point that people will save if you just switch your auto insurance coverage to their company. How does each company give you a better price? It’s all in the words they use.

Different companies can use profiling for the type of customer that will not have excessive claims. One example of this type of risk profile may need to be between the ages of 30 and 50, is a homeowner, and drives less than 5,000 miles a year. A customer who fits that profile will get a cheap rate quote and is almost guaranteed to cut their rates if they switch.

People who do not meet those criteria will be charged higher premium rates which usually ends up with the customer buying from someone else. The wording the ads use say “drivers who switch” but not “all drivers who get quotes” save that much money. This is how companies can state the savings. This illustrates why it’s extremely important to compare many company’s car insurance rates. It’s not possible to predict which auto insurance company will have better rates than you’re paying now.

Insurance discounts are available to cut your rates

Car insurance companies don’t always list every discount very clearly, so the list below details some of the more common and the more hidden discounts that may be available.

• Low Miles Discount – Fewer annual miles on your BMW may allow you to get better insurancerates on cars that stay parked.
• Bundled Policy Discount – If you can bundle your auto and home insurance and insure them with the same company you may earn over 10 percent off each policy depending on the company.
• Club Memberships – Having an affiliation with specific professional or occupational memberships or organizations may earn a discount on your policy.
• Defensive Driving Course – Completing a course in defensive driver could save 5% or more and make you a better driver.
• Student Discounts – This discount can save 20 to 25%. Earning this discount can benefit you until age 25.

You should keep in mind that some of the credits will not apply to the entire cost. Some only apply to individual premiums such as physical damage coverage or medical payments. Despite the appearance that having all the discounts means you get insurance for free, it doesn’t quite work that way.

A few popular companies and some of their more popular discounts are:

• Esurance offers premium reductions for anti-theft, online shopper, multi-policy, Switch & Save, and renters.
• The Hartford has discounts for air bag, good student, anti-theft, vehicle fuel type, defensive driver, and driver training.
• AAA has savings for AAA membership discount, pay-in-full, anti-theft, good student, and multi-policy.
• Geico discounts include anti-lock brakes, five-year accident-free, daytime running lights, good student, anti-theft, membership and employees, and defensive driver.
• State Farm offers discounts for multiple autos, defensive driving training, good student, anti-theft, Steer Clear safe driver discount, good driver, and accident-free.

When quoting, ask every company which credits you are entitled to. Some discounts may not apply to policies everywhere. To see a list of insurers with significant discounts, click here to view.

Everyone needs different insurance coverages

When choosing coverage for your vehicles, there is no “perfect” insurance plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions can help discover if your situation would benefit from an agent’s advice.

• Am I covered if I break a side mirror?
• Where can I get insurance after a DUI in my state?
• Do I need roadside assistance coverage?
• Is my state a no-fault state?
• Am I covered by my spouse’s policy after a separation?
• Can I drive in Mexico and have coverage?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Auto insurance coverages

Knowing the specifics of your insurance policy can help you determine the best coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Below you’ll find the usual coverages found on the average insurance policy.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for chiropractic care, doctor visits and EMT expenses. They can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Liability car insurance

Liability insurance can cover injuries or damage you cause to other’s property or people in an accident. This insurance protects YOU against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 50/100/50 that means you have a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.

Liability can pay for claims such as pain and suffering, medical services, structural damage, repair costs for stationary objects and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible.

Comprehensive auto coverage

This will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like a broken windshield, hitting a bird and hail damage. The highest amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants as well as damage to your BMW M3.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Auto collision coverage

Collision insurance pays to fix your vehicle from damage resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims such as crashing into a building, backing into a parked car and driving through your garage door. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible to bring the cost down.

Smart shoppers get results

We just presented some good ideas how you can lower your 1998 BMW M3 insurance prices. The key thing to remember is the more providers you compare, the higher the chance of saving money. Consumers may even find the lowest prices come from some of the lesser-known companies. These companies may only write in your state and offer lower rates than their larger competitors like State Farm and Allstate.

Some insurance companies do not offer the ability to get a quote online regional insurance providers provide coverage only through independent agencies. More affordable auto insurance can be purchased on the web as well as from independent agents, and you should compare rates from both to have the best selection.

Much more information about auto insurance can be found at the links below

• Information for Teen Drivers (Geico)
• Understanding your Policy (NAIC.org)
• How to Avoid Staged Accidents (State Farm)
• Distracted Driving Extends Beyond Texting (State Farm)