2016 BMW M3 Car Insurance Cost – 9 Ideas for Cheapest Prices

Searching for affordable insurance coverage can appear to be overwhelming for people not familiar with buying their insurance coverage online. With dozens of companies competing online, how can anyone be able to compare every insurance coverage company to find the lowest price?

If you currently have car insurance, you should be able to cut costs considerably using these methods. Shopping for cheaper protection can be fairly easy. But drivers must comprehend the way insurance companies sell online and take advantage of how the system works.

Reduce your insurance rates with these nine discounts

Insurance is neither fun to buy or cheap, but you may qualify for discounts that you may not even be aware of. Some discounts will apply at quote time, but some may not be applied and must be asked for before you get the savings.

  • Senior Citizen Rates – If you’re over the age of 55, you could receive a small decrease in premiums on M3 coverage.
  • Multi-car Discount – Having more than one vehicle with the same insurance company qualifies for this discount.
  • Defensive Driver Discount – Successfully completing a course teaching safe driver skills is a good idea and can lower rates if your company offers it.
  • Sign Online – Many insurance companies will provide an incentive simply for signing on the internet.
  • Life Insurance – Larger insurance carriers have a discounted premium rate on car insurance if you buy auto and life insurance together.
  • Passenger Safety Discount – Vehicles equipped with air bags can get savings of 25 to 30%.
  • Cautious Driver Discount – Drivers without accidents can pay as much as 50% less on M3 coverage compared to rates paid by drivers with frequent claims.
  • Military Deployment Discount – Being on active duty in the military could qualify you for better premium rates.
  • Data Collection Discounts – Drivers that enable companies to monitor when and where they use their vehicle through the use of a telematics system such as Snapshot from Progressive or Drivewise from Allstate might get better premium rates as long as the data is positive.

A quick disclaimer, most credits do not apply the the whole policy. Most cut the cost of specific coverages such as medical payments or collision. So even though they make it sound like it’s possible to get free car insurance, companies wouldn’t make money that way. But all discounts will reduce your overall bill.

A list of insurance companies and their possible discounts are shown below.

  • State Farm has discounts for safe vehicle, multiple autos, defensive driving training, good driver, anti-theft, good student, and student away at school.
  • Progressive offers discounts for online quote discount, online signing, continuous coverage, good student, and multi-vehicle.
  • Travelers offers premium reductions for IntelliDrive, multi-policy, multi-car, driver training, payment discounts, and early quote.
  • American Family may have discounts that include early bird, bundled insurance, good student, multi-vehicle, defensive driver, good driver, and air bags.
  • Liberty Mutual policyholders can earn discounts including good student, new vehicle discount, safety features, newly retired, multi-car, and preferred payment discount.

Check with each company or agent which discounts you may be entitled to. All car insurance discounts might not be offered on policies everywhere.

The quickest way to get rate comparisons is to realize auto insurance companies pay for the opportunity to quote your coverage. To begin a comparison, all you need to do is provide a small amount of information including whether you are married, if you went to college, whether you have decent credit, and whether the vehicles are used for commuting. That rating data is automatically sent to multiple top-rated companies and they respond with quotes quickly.

To find the cheapest 2016 BMW M3 insurance rates, click here and enter your coverage details.

You are unique and your car insurance should be too

When it comes to buying proper insurance coverage, there really is not a single plan that fits everyone. Each situation is unique.

Here are some questions about coverages that might help in determining if your situation would benefit from professional advice.

  • Do I get a pro-rated refund if I cancel my policy early?
  • Are rental cars covered under my policy?
  • Do I need to file an SR-22 for a DUI in my state?
  • Can my teen driver be rated on a liability-only vehicle?
  • Do I have coverage if my license is suspended?
  • Will my rates increase for filing one claim?
  • Does medical payments coverage apply to all occupants?
  • Can I afford low physical damage deductibles?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Does my medical payments coverage pay my health insurance deductible?

If you don’t know the answers to these questions, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form.

Car insurance coverages for a 2016 BMW M3

Having a good grasp of your insurance policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.

Comprehensive protection

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

Comprehensive coverage protects against claims such as falling objects, vandalism and fire damage. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like rehabilitation expenses, surgery, EMT expenses and nursing services. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Liability coverages

Liability insurance will cover damage or injury you incur to other people or property that is your fault. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $50,000.

Liability can pay for things such as emergency aid, pain and suffering and medical expenses. How much liability coverage do you need? That is a personal decision, but you should buy higher limits if possible.

Collision insurance

This pays for damage to your M3 resulting from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as colliding with another moving vehicle, crashing into a building and driving through your garage door. This coverage can be expensive, so you might think about dropping it from older vehicles. You can also bump up the deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Make an honest buck

When you buy car insurance online, make sure you don’t skimp on coverage in order to save money. Too many times, consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim they didn’t have enough coverage. Your objective should be to buy enough coverage at the lowest possible cost while still protecting your assets.

We just covered many tips how you can get a better price on 2016 BMW M3 insurance. It’s most important to understand that the more you quote car insurance, the better your chances of lowering your prices. Consumers may even find the best premium rates are with some of the lesser-known companies.

Consumers leave their current company for any number of reasons including lack of trust in their agent, being labeled a high risk driver, high prices and delays in paying claims. No matter why you want to switch, switching companies is easier than you think.

More information is available at these links:

Comments About 2016 BMW M3 Insurance

  1. Carley Romero

    From a town just southwest of Boston, Massachusetts. I don’t recall every quote but I ended up saving about $40 each month. Highly recommended.

  2. Alta Bartlett

    Cheap car insurance? What’s that? From Juneau, Alaska. Checked online prices for a 2016 BMW M3. Ended up at about $320 savings annually. Went with State Farm. Good savings if you bundle. :)

  3. Ammie Burks

    Does Mississippi require a SR-22 after a DUI?

  4. Theresa Lott

    Will 21st Century raise rates for a rock chip claim?

  5. Santos Knight

    Just a quick comment on my experience. I’m just west of Phoenix, AZ. Quoted with Amica, MetLife, and a few others for my 2016 BMW M3 and saved $354 a year. Insured with Allstate before.

  6. Eulalia Turner

    Progressive is decent in Portland, OR.

  7. Lia Sykes

    Will Allstate insure with a DUI in Idaho Falls, Idaho?

  8. Lincoln Tate

    I got quite a few price quotes for a 2016 BMW M3 in Mobile, AL. Ended up at roughly $150 every six months with American Family. Was with USAA. Have a couple speeding tickets too. I used their website to get prices.

  9. Johnie Hayes

    Are Allstate or Allstate rates cheaper in Tennessee?

  10. Olen Mcfadden

    Anyone try to read their policy?

  11. Emmitt Mills

    I live just to the west of Gaithersburg, MD. Got rates from 21st Century, AAA, Farmers, and Hartford for my 2016 BMW M3 and saved $241 a year. :)

  12. Pearlie Jacobson

    I’m in Virginia Beach, VA. Compared quite a few companies. Saved roughly $40 a month. State Farm was the cheapest for me. Left Liberty Mutual to switch. Good savings if you bundle. Hardly afford to drive anymore.