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.
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.
For a list of companies in your area, click here.
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.
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.
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.
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:
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.
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.
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.
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 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 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.
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.
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.
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.
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
Not sure if this is cheap. From northwest of Charlotte, NC. Received quotes with Travelers, Auto-Owners, GMAC, and Nationwide for my M3 and I think I saved about $20 each month. I got prices on the web.
I got decent rates for a 1998 BMW M3 in Chesapeake, VA. Ended up at roughly $120 every six months with American Family. They offer free online rate quotes.
Liked the article. I live on the east side of Newark, DE. Got quotes from Amica, Farmers, and Nationwide for my BMW and I think I saved around $20 each month. Left Mercury to switch. Moved home policy as well. Not sure if rates are cheaper online or through an agent.
Do I have to have car insurance in Ohio?
IT’S ALL TOO EXPENSIVE! Proud to be from Seattle, WA. Got car insurance rates from AAA, Safeco, and Western Auto Insurance for my BMW and saved just over $100 a year. I just carry liability insurance.
Hope my car insurance gets cheaper. I’m in the suburbs of San Antonio, Texas. Got car insurance quotes from AAA, Erie, and Nationwide for my BMW and I think I am saving around $20 each month. Good multi-policy discounts. God forbid I actually have a claim.
From north side of Miami, Florida and for me Progressive had the lowest quote. Was with Progressive. I’m a pretty good driver though. I got a quote from their website. Full coverage costs too much.
I got quite a few price quotes for a 1998 BMW M3 in Aberdeen, SD. Ended up at right around $110 every six months with AAA.
I found pretty cheap rate quotes for a 1998 BMW M3 in Mesa, AZ. Ended up at right around $120 every six months with AIG Insurance. Left GEICO to switch. I get lower rates because of my clean driving record. :P
Will State Farm be cheaper if I raise deductibles?
Progressive and Allstate were both pretty cheap in Charleston, WV.
Corporate greed I’m telling you. Quoted with Liberty Mutual for my M3 and saved around $100 a year. Ask about discounts. I dropped full coverage awhile back.