Cheap 1999 BMW M3 Insurance Cost

Trying to find the cheapest auto insurance rates for your BMW M3? Finding cheap rates for auto insurance can be nearly impossible for beginners to online price comparisons. With so many insurance companies available, it can easily be a difficult mission to find the best price.

It’s a good idea to do price comparisons occasionally since prices tend to go up over time. Even if you got the lowest quotes for M3 coverage a year ago you will most likely find a better rate today. Forget anything you know (or think you know) about auto insurance because you’re about to find out the quickest way to find great coverage at a great price.

Earn discounts to get lower-cost auto insurance quotes

The price of auto insurance can be rather high, but you might already qualify for some discounts that many consumers don’t even know exist. Certain discounts will be triggered automatically at the time of quoting, but lesser-known reductions have to be requested specifically before they will apply. If you do not check that you are getting every discount you deserve, you are throwing money away.

• Pay Now and Pay Less – If you can afford to pay the entire bill instead of monthly or quarterly installments you may have a lower total premium amount.
• Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn a discounted rate on car insurance if you buy life insurance from them.
• Early Switch Discount – A few larger companies offer discounts for renewing your policy prior to the expiration date on your current policy. This can save 10% or more.
• Student Discount for Driver Training – Teen drivers should enroll in driver’s education in school.
• Senior Citizen Discount – Older drivers can get a discount up to 10% for M3 coverage.
• Discounts for Good Drivers – Insureds who avoid accidents can pay as much as 50% less for M3 coverage than drivers with accidents.
• Resident Student – Children who attend college more than 100 miles from home and do not take a car to college may qualify for this discount.
• Multi-Vehicle Discounts – Buying coverage for all your vehicles on one policy may reduce the rate for each vehicle.
• Discount for Good Grades – Performing well in school could provide a savings of up to 20% or more. This discount can apply until age 25.

Please keep in mind that most discounts do not apply to the entire cost. Most cut specific coverage prices like physical damage coverage or medical payments. Just because it seems like it’s possible to get free car insurance, it just doesn’t work that way.

Popular auto insurance companies and some of the premium reductions they offer are detailed below.

• Geico offers premium reductions for daytime running lights, driver training, membership and employees, air bags, and multi-policy.
• Travelers includes discounts for multi-car, IntelliDrive, good student, continuous insurance, payment discounts, early quote, and multi-policy.
• Nationwide discounts include family plan, good student, business or organization, multi-policy, accident-free, and easy pay.
• Farmers Insurance policyholders can earn discounts including switch companies, homeowner, pay in full, distant student, and teen driver.
• Esurance may include discounts for multi-policy, anti-lock brakes, renters, Pac-12 alumni, defensive driver, safety device, and multi-car.
• State Farm has savings for good driver, driver’s education, safe vehicle, good student, and defensive driving training.
• Progressive may offer discounts for continuous coverage, good student, online signing, multi-policy, multi-vehicle, and online quote discount.
• Mercury Insurance has discounts for accident-free, ease of repair, multi-car, good driver, good student, age of vehicle, and professional/association.

It’s a good idea to ask every prospective company how you can save money. Savings may not apply to policies in your state. To choose insurance companies with discount rates, click here.

Insurance costs are influenced by these factors

Smart consumers have a good feel for some of the elements that help determine your premiums. When you understand what determines base rates, this allows you to make good choices that can help you get lower rates.

• Never go without insurance coverage – Not maintaining insurance can get you a ticket and as a result your rates will increase for letting your insurance expire. And not only will your rates increase, failure to provide proof of insurance may earn you a revoked license or a big fine.
• Gals tend to cost less – Statistics demonstrate women tend to be less risk to insure than men. However, this does not mean females are better drivers. Both genders cause at-fault accidents at about the same rate, but the men cause more damage. Men also tend to receive more costly citations like DWI (DUI) or reckless driving.
• Insurance rates for married couples – Walking down the aisle helps lower the price on your policy. Having a significant other demonstrates that you tend to be more mature than a single person and statistics show being married results in fewer claims.
• High credit scores save money – Having a bad credit rating is a big factor in determining your rates. Insureds that have good credit tend to be more responsible and file fewer claims as compared to drivers with poor credit scores. If your credit score is low, you may save money insuring your 1999 BMW M3 by improving your rating.
• Additional coverages that may be costing you – Policies have add-on coverages that you can buy on your M3 policy. Add-on coverages like coverage for rental cars, better glass coverage, and motor club memberships are examples of these. These may sound like a good investment when talking to your agent, but now you might not need them so get rid of them and save.

Tailor your car insurance coverage to you

When it comes to buying the right insurance coverage for your personal vehicles, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For example, these questions might point out whether your personal situation will benefit from professional help.

• Do I have any recourse if my insurance company denies a claim?
• If my 1999 BMW M3 is totaled, can I afford another vehicle?
• Am I covered when driving a rental car?
• Is other people’s property covered if stolen from my vehicle?
• When would I need rental car insurance?
• Is my ex-spouse still covered by my policy?
• Are all vehicle passengers covered by medical payments coverage?
• Does insurance cover tools stolen from my truck?
• Should I have a commercial auto policy?
• Will I be non-renewed for getting a DUI or other conviction?

If you’re not sure about those questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, fill out this quick form.

Coverages available on your policy

Knowing the specifics of auto insurance aids in choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Auto liability insurance – Liability insurance protects you from damage that occurs to other’s property or people. This coverage protects you against other people’s claims. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability insurance covers claims like court costs, attorney fees and legal defense fees. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants and damage to your BMW M3.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.

Comprehensive insurance – This coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as fire damage, hail damage, theft, hitting a bird and a tree branch falling on your vehicle. The most you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for bills like prosthetic devices, hospital visits, funeral costs, X-ray expenses and dental work. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay

Collision coverages – This coverage pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims like rolling your car, scraping a guard rail and colliding with a tree. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Shop Smart and Save

We just covered many ideas to lower your 1999 BMW M3 insurance prices. It’s most important to understand that the more price quotes you have, the better your chances of lowering your rates. You may be surprised to find that the best prices are with the smaller companies.

Some companies do not provide online price quotes and many times these regional insurance providers work with independent insurance agents. Lower-priced 1999 BMW M3 insurance can be bought online in addition to local insurance agencies, and you should compare rates from both so you have a total pricing picture.

When searching for cheap car insurance quotes, never buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured cut liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. The aim is to get the best coverage possible for the lowest cost, not the least amount of coverage.

For more information, take a look at these articles:

• Child Safety Seats (Insurance Information Insitute)
• Young Drivers: The High Risk Years Video (iihs.org)
• Vehicle Insurance (Wikipedia)
• Uninsured Motorist Statistics (Insurance Information Insitute)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• Older Drivers FAQ (iihs.org)