Cheaper 2008 BMW M3 Insurance Quotes

Want lower car insurance rates for your BMW M3? Are you regretting the purchase of overpriced car insurance? You’re preaching to the choir because many drivers feel the same as you. Popular companies such as Geico, Progressive and Allstate promote their brand names with catchy ads and it is difficult to ignore the promise of big savings and take the time to shop coverage around.

It’s important to do rate comparisons every six months due to the fact that insurance rates are rarely the same from one policy term to another. If you had the lowest premium rates for M3 insurance a couple years back there may be better deals available now. Block out anything you think you know about car insurance because you’re about to learn the things you must know in order to find better rates and still maintain coverage.

Insurance quotes comparison

Most companies allow you to get insurance quotes on the web. Comparing prices online is quite simple as you simply type in your personal and coverage information on the page. Once entered, their quoting system automatically retrieves information on your driving record and credit history and gives you a price quote based on the data you entered. Online quotes simplifies rate comparisons, but having to visit a lot of sites and type in the same information gets old quite quickly. Unfortunately, it is important to perform this step if you want to get the lowest insurance rates.

There is an easier way to compare rates

The quickest way to lower your insurance bill is to use a quote form to return rates from several different companies. This type of form saves time, helps eliminate reptitive entry, and makes quoting online much more enjoyable. Immediately after you send the form, it gets priced and you can select your choice of the quote results. If the quotes result in lower rates, it’s easy to complete the application and buy the new coverage. It takes just a few minutes to complete and can result in significant savings.

To get comparison pricing now, simply click here to open in new window and submit your coverage information. If you currently have coverage, we recommend you replicate coverages and limits just like they are on your policy. This ensures you will be getting a fair comparison for exact coverage.

Cheap auto insurance rates with discounts

Not many people think insurance is cheap, but discounts can save money and there are some available that can dramatically reduce your bill. Some of these disounts will be visible at the time you complete a quote, but less common discounts must be inquired about before being credited. If you do not check that you are getting every discount possible, you could be paying more than you need to.

• Cautious Driver Discounts – Insureds without accidents could pay up to 40% less for M3 insurance than less cautious drivers.
• Pay Now and Pay Less – If paying your policy premium upfront instead of paying each month you may reduce your total bill.
• Discount for New Cars – Adding a new car to your policy is cheaper because new model year vehicles have to meet stringent safety requirements.
• Driver’s Ed – Require your teen driver to enroll in driver’s education as it will make them better drivers and lower rates.
• Passive Restraints and Air Bags – Options like air bags or motorized seat belts can qualify for discounts of 20% or more.
• Data Collection Discounts – Insureds that choose to allow their company to scrutinize their driving habits by using a small device installed in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive may get a rate reduction if they are good drivers.
• Government Employee Discount – Employees or retirees of the government can save as much as 8% for M3 insurance depending on your auto insurance provider.
• Anti-lock Brake Discount – Cars and trucks with ABS and/or traction control are safer to drive and therefore earn up to a 10% discount.

Discounts reduce rates, but you should keep in mind that many deductions do not apply the the whole policy. The majority will only reduce individual premiums such as liability, collision or medical payments. Even though it appears having all the discounts means you get insurance for free, you aren’t that lucky.

Some companies that have most of these discounts include:

• Geico
• USAA
• Progressive
• American Family
• Esurance
• Farmers Insurance
• State Farm

Check with every company to give you their best rates. A few discounts may not be available in your area. If you would like to see a list of auto insurance companies with discount auto insurance rates, follow this link.

Tailor your auto insurance coverage to you

When buying coverage, there is no “perfect” insurance plan. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that may help highlight whether your personal situation may require specific advice.

• Am I covered when driving someone else’s vehicle?
• Are there companies who specialize in insuring high-risk drivers?
• How high should my uninsured/underinsured coverage be in my state?
• Am I covered if I hit my neighbor’s mailbox?
• Why am I required to get a high-risk car insurance policy?
• Can I rent a car in Mexico?
• Does my policy pay for OEM or aftermarket parts?

If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies. It’s fast, free and can help protect your family.

BMW M3 insurance prices can be reduced

The best way to find cheaper insurance is to take a look at the factors that help calculate the price you pay for insurance. When you know what positively or negatively controls the rates you pay, this allows you to make good choices that will entitle you to much lower annual insurance costs. Lots of factors are taken into consideration when pricing auto insurance. Most are fairly basic such as traffic violations, although some other factors are more obscure like your vehicle usage or your commute time.

• Too many insurance claims will drive prices up – Auto insurance companies award most affordable rates to drivers who do not file claims often. If you file claims often, you can definitely plan on increased rates or even have your policy non-renewed. Your car insurance is intended to be relied upon for claims that pose a financial burden.
• Cheaper premiums for prior coverage – Driving without insurance coverage in place is a misdemeanor and any future policy may cost more because you let your insurance coverage expire. Not only will you pay more, being ticketed for driving with no insurance could result in a fine, jail time, or a revoked license. You may need to file a SR-22 with your state department of motor vehicles.
• Don’t skimp on liability protection – The liability coverage on your policy will afford coverage if you are ruled to be at fault for damages from an accident. This coverage provides legal defense coverage which can cost thousands of dollars. It is affordable coverage compared to other policy coverages, so insureds should have plenty of protection for their assets.
• Marriage is a factor – Getting married helps lower the price when shopping for insurance. Having a significant other may mean you are more financially stable and statistics prove drivers who are married are more cautious.
• Discounts for auto and home policies – Most major companies provide lower prices to people that have more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to check prices from other companies to help ensure you have the lowest rates. It’s possible to still find better rates by buying from different companies
• Big cities have higher prices – Residing in a rural area can save you money when it comes to insurance. Urban drivers have traffic congestion and much longer commute distances. Lower population corresponds to lower accident rates and a lower car theft rate.
• Remove unneeded add-on coverages – Insurance policies have a lot of extra add-on coverages that you can buy when buying insurance. Insurance for rental car coverage, better glass coverage, and motor club memberships may be wasting your money. These coverages may sound good when you first buy your policy, but if you have no use for them eliminate the coverages to reduce your premium.

Detailed coverages of your insurance policy

Having a good grasp of insurance helps when choosing the right coverages and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement. Below you’ll find the usual coverages available from insurance companies.

Liability car insurance

This provides protection from injuries or damage you cause to other’s property or people by causing an accident. It protects YOU from claims by other people. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see limits of 50/100/50 which means a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability can pay for things such as court costs, structural damage and bail bonds. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance provide coverage for bills for dental work, doctor visits and prosthetic devices. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as getting struck while a pedestrian. PIP is not universally available and may carry a deductible

Auto collision coverage

Collision insurance pays for damage to your M3 resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things like hitting a mailbox, colliding with another moving vehicle, rolling your car, sideswiping another vehicle and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants and damage to your BMW M3.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Comprehensive auto coverage

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like hitting a deer, a tree branch falling on your vehicle, damage from a tornado or hurricane and fire damage. The highest amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

You can do this!

When getting car insurance quotes online, it’s very important that you do not reduce coverage to reduce premium. There have been many cases where an insured dropped full coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to get the best coverage possible for the lowest price, but do not sacrifice coverage to save money.

You just read many ideas to save on 2008 BMW M3 insurance. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding cheaper car insurance. Consumers could even find that the biggest savings come from some of the smallest insurance companies. They often have lower prices on specific markets than their larger competitors like State Farm and Allstate.

More tips and info about auto insurance can be found in the articles below:

• Distracted Driving Extends Beyond Texting (State Farm)
• Credit and Insurance Scores (Insurance Information Insitute)
• Vehicle Size and Weight FAQ (iihs.org)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Choosing an Insurance Company (Insurance Information Insitute)
• Comprehensive Coverage (Liberty Mutual)