Are Your BMW M3 Auto Insurance Rates Too High?

Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Believe me when I say there are many consumers feeling the pinch from expensive auto insurance. Multiple car insurance companies compete to insure your vehicles, so it’s not easy to compare every provider to find the absolute best price available.

It’s a good idea to price shop coverage yearly because prices change regularly. If you had the best deal on M3 insurance six months ago a different company probably has better rates today. Starting right now, block out anything you think you know about auto insurance because you’re about to learn how to use online quotes to reduce your cost while increasing coverage.

If you are insured now or are just looking to switch companies, you can use this information to cut your premiums and possibly find even better coverage. Choosing the best insurance company for you is not rocket science. Drivers just need to learn the most efficient way to get comparison quotes online.

Take discounts and save

Auto insurance companies don’t always advertise every available discount in an easy-to-find place, so here is a list some of the more common and also the lesser-known auto insurance savings. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

• Anti-lock Brakes – Vehicles equipped with ABS or steering control are safer to drive and will save you 10% or more.
• No Charge for an Accident – Certain companies will allow you to have one accident before your rates go up so long as you haven’t had any claims for a particular time prior to the accident.
• Good Students Pay Less – Performing well in school can get you a discount of up to 25%. The good student discount can last well after school through age 25.
• New Car Discount – Insuring a new car is cheaper compared to insuring an older model.
• Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates on M3 insurance than their less cautious counterparts.
• Multiple Cars – Buying coverage for all your vehicles on one policy can get a discount on all vehicles.

It’s important to note that most discounts do not apply to your bottom line cost. Most only cut individual premiums such as medical payments or collision. So even though it sounds like all those discounts means the company will pay you, you’re out of luck.

How to Compare Auto Insurance Rates

Shopping for lower auto insurance rates can take hours if you don’t know the easiest way. You can waste hours discussing policy coverages with agents in your area, or you can stay home and use the internet to accomplish the same thing much quicker.

Many insurance companies belong to an insurance system where insurance shoppers enter their policy data once, and each company can provide price quotes based on that data. This system prevents you from having to do quote forms for each company.

To find out how much you can save on auto insurance click here to start a free quote.

The only downside to using this type of system is that you can’t choose which companies you will receive quotes from. So if you prefer to pick specific providers to compare, we put together a list of the cheapest auto insurance companies in your area. View list of insurance companies.

Which method you use is up to you, but double check that you are using apples-to-apples coverage limits on every quote you get. If you compare different values for each quote it’s impossible to determine the lowest rate for your BMW M3.

Some factors that can determine what BMW M3 insurance costs

Smart consumers have a good feel for the different types of things that go into determining auto insurance rates. When you know what positively or negatively controls the rates you pay enables informed choices that can help you get much lower annual insurance costs.

• Don’t skimp on liability – The liability section of your policy will protect you if you are found liable for damages caused by your negligence. Liability provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.
• Your credit rating is important – Credit score is a huge factor in calculating your auto insurance rates. If your credit score is lower than you’d like, you could save money insuring your BMW M3 by improving your rating. Consumers who have high credit ratings tend to be less risk to insure as compared to drivers with poor credit.
• Your location is important – Being located in small towns and rural areas has it’s advantages when insuring your vehicles. Drivers who live in large cities tend to have congested traffic and longer commutes to work. Fewer drivers translates into fewer accidents and also fewer theft and vandalism claims.
• Your occupation can affect rates – Did you know that where you work can have an impact on rates? Occupations like judges, executives and dentists tend to pay the highest average rates due to high stress levels and lots of time spent at work. Other occupations such as scientists, historians and homemakers have the lowest average rates on M3 insurance.

Best coverage at the best price

We just presented some good ideas how to compare BMW M3 insurance prices online. It’s most important to understand that the more rate comparisons you have, the higher your chance of finding lower rates. Consumers could even find that the best prices are with some of the lesser-known companies. These companies may have significantly lower rates on certain market segments as compared to the big name companies such as Allstate or State Farm.

Discount BMW M3 insurance can be bought on the web as well as from independent agents, so you should be comparing quotes from both to get a complete price analysis. A few companies don’t offer online price quotes and these small, regional companies work with independent agents.