Trying to find cheaper auto insurance rates for your BMW M? No one is fond of buying auto insurance, especially when they know they are paying too much.
With so many choices, it is very difficult to find a more affordable auto insurance provider.
Finding affordable coverage is not rocket science. If you have car insurance now, you should be able to reduce your rates substantially using this information. But drivers do need to learn how big insurance companies sell insurance online.
The are a couple different ways to get quotes from companies that offer auto insurance in your state. The best method to comparison shop consists of shopping online. It’s really quite simple and can be done by using one of the methods below.
For a list of links to insurance companies in your area, click here.
It’s up to you how you get prices quotes, just ensure you are comparing identical quote information for each comparison quote. If you have different limits and deductibles on each one it’s impossible to get a fair rate comparison. Slightly different coverage limits may cause a big price difference. And when quoting auto insurance, remember that comparing all the rates in your area increases the change that you will find more affordable insurance. Some regional insurers cannot provide price estimates online, so it’s important to compare rates from those companies as well.
When it comes to choosing proper insurance coverage, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s so this has to be addressed. Here are some questions about coverages that may help highlight whether you would benefit from professional advice.
If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
Understanding the coverages of your auto insurance policy aids in choosing appropriate coverage for your vehicles. Auto insurance terms can be confusing and coverage can change by endorsement. Below you’ll find typical coverage types available from auto insurance companies.
Comprehensive insurance covers damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like vandalism, fire damage and rock chips in glass. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries sustained by your vehicle’s occupants and damage to your 2001 BMW M.
Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
This coverage provides protection from damages or injuries you inflict on other’s property or people by causing an accident. This insurance protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 which means a $100,000 limit per person for injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.
Liability can pay for claims such as medical services, legal defense fees, bail bonds, structural damage and repair costs for stationary objects. How much coverage you buy is a personal decision, but consider buying as large an amount as possible.
Collision coverage protection
This coverage pays to fix your vehicle from damage resulting from a collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like hitting a mailbox, driving through your garage door, hitting a parking meter and damaging your car on a curb. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP kick in for immediate expenses for nursing services, doctor visits and rehabilitation expenses. They are used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. It covers you and your occupants and will also cover if you are hit as a while walking down the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
I live in a small town just outside of Saint Louis, Missouri. I quoted with Nationwide, Farmers, State Farm, and Auto-Owners for my BMW and I’m now saving $13 a month. Insured with State Farm before.
Cheap is not always the best policy. From Gaithersburg, MD. Can’t remember who all I quoted but I ended up saving about $30 each month. Left AAA to switch. I have kids on my policy, too. Anyone else drop full coverage?
Just a quick comment on my experience. I’m from Denver, Colorado. Compared quite a few companies. Saved roughly $20 a month. Progressive was the cheapest for me. I don’t insure for physical damage though.
Great info, thanks for posting. I’m from Seattle, Washington. Got quotes with 21st Century, American Family, and Eastwood for my 2001 BMW M and saved $94 a year. I have several vehicles insured with them.
Cheap car insurance? What’s that? Lifelong resident of Pittsburgh, PA. Got free quotes online for a 2001 BMW M. Ended up at about $110 savings annually. Went with Progressive. Left Encompass to switch. Have a couple speeding tickets too. They have free quotes online.
Not sure if this is cheap. I live north of Honolulu, HI. Got rates from Progressive, American Family, Farmers, and GMAC for my BMW and saved just over $80 a year. Left Eastwood to switch. A clean driving record helps. When should I drop full coverage?
If you have a good history and live around Los Angeles, California, check out Progressive. I saved quite a bit. Left Liberty Mutual to switch. I have several vehicles insured with them.
Live in San Jose, CA. Got car insurance quotes from Allstate, Liberty Mutual, and Encompass for my BMW and saved just over $80 a year. It’s only liability tho.
I’m in the south part of Aurora, IL. Went online for free insurance quotes for a 2001 BMW M. Ended up at about $80 savings annually. Went with Allstate. Can still barely afford it. I don’t have comp or collision coverage.