Lower Your 1998 BMW M3 Insurance Quotes

Want cheaper auto insurance rates for your BMW M3? Nobody I know cherishes buying auto insurance, especially knowing the price is too high.

Multiple insurers compete for your hard-earned dollar, so it can be very hard to choose a insurer to get the best rate

Discounts to lower 1998 BMW M3 insurance rates

Auto insurance companies do not list all available discounts very clearly, so we took the time to find some of the more common and also the lesser-known savings tricks you should be using.

  • Driver Safety – Taking part in a defensive driving course could cut 5% off your bill if you qualify.
  • Passive Restraints – Factory air bags or motorized seat belts can qualify for discounts of up to 25% or more.
  • Accident Forgiveness – Some insurance companies permit an accident before hitting you with a surcharge if your claims history is clear for a particular time prior to the accident.
  • Safe Driver Discount – Insureds without accidents may save up to 50% more for M3 coverage than drivers with accident claims.
  • Drive Less and Save – Fewer annual miles on your BMW can earn discounted rates on garaged vehicles.
  • 55 and Retired – If you qualify as a senior citizen, you may be able to get reduced rates for M3 coverage.
  • Good Student Discount – Getting good grades can save 20 to 25%. This discount can apply well after school through age 25.

As a disclaimer on discounts, some credits don’t apply to your bottom line cost. Some only apply to individual premiums such as comprehensive or collision. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck.

Car insurance companies who might offer some of the above discounts are:

Before buying, ask each company what discounts are available to you. Savings might not apply in every state.

How to Compare Auto Insurance Costs

Comparing auto insurance rates can take time and effort if you don’t understand the fastest way to get free quotes. You could waste time discussing policy coverages with local insurance agents in your area, or you could use the web for quick rates.

The majority of car insurance companies enroll in a system where insurance shoppers enter their policy data once, and at least one company can give them a price based on that information. This saves time by eliminating quotation requests for each company you want a rate for.

To submit your quote information now, click here to start a free quote.

The only downside to using this type of form is that you can’t choose the companies to get pricing from. So if you prefer to choose individual companies to compare rates, we put together a list of companies who write auto insurance in your area. Click here for list of insurance companies.

It’s your choice how you get your quotes, but make darn sure you compare the exact same coverages and limits with each company. If the quotes have higher or lower deductibles then you won’t be able to determine the best price for your BMW M3. Just a small difference in insurance coverages can make a big difference in price. Keep in mind that more quotes will increase your chances of finding the best price.

Impacting insurance rates for a BMW M3

It’s important that you understand some of the elements that help determine the price you pay for auto insurance. Understanding what controls the rates you pay allows you to make educated decisions that will entitle you to lower auto insurance prices.

  • Tickets mean higher rates – Only having one citation may increase your cost forty percent or more. Drivers with clean records tend to pay less for car insurance than people who have multiple driving citations. Drivers with severe tickets like hit and run, DWI or reckless driving convictions are required to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to drive a vehicle legally.
  • Don’t get talked into coverage you don’t need – There are a ton of additional coverages that you can get tricked into buying when buying auto insurance. Coverages like vanishing deductibles, accidental death and membership fees may be costing you every month. These may sound like a good investment initially, but your needs may have changed so get rid of them and save.
  • Younger drivers pay higher rates – Older insureds are more cautious drivers, statistically cause fewer accidents and are safer drivers. Teenage drivers tend to be less responsible when behind the wheel therefore auto insurance rates are much higher.
  • Safer cars are cheaper to insure – Vehicles with high crash test scores tend to have better insurance rates. The safest vehicles result in less severe injuries and lower injury rates means lower claim amounts and more competitive rates for policyholders. If your BMW scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Big city or small town – Being located in a rural area has it’s advantages when insuring your vehicles. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft. Drivers who live in large cities regularly have congested traffic and longer commute times. Higher commute times means higher likelihood of an accident.
  • Bundling policies can get discounts – The majority of insurance companies will award you with lower prices to people who buy several policies from them, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to compare rates to confirm you are receiving the best rates possible.

Tailor your coverage to you

When it comes to choosing adequate coverage, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s so your insurance needs to address that. For instance, these questions can aid in determining if your insurance needs may require specific advice.

  • Will I lose any money if I cancel my policy before it expires?
  • Do I pay less if my vehicle is kept in my garage?
  • Should I put collision coverage on all my vehicles?
  • Does my 1998 BMW M3 need full coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • Am I covered when pulling a rental trailer?
  • If my 1998 BMW M3 is totaled, can I afford another vehicle?
  • How do I file an SR-22 for a DUI in my state?
  • Do I benefit by insuring my home with the same company?

If you can’t answer these questions, you might consider talking to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier

Coverage specifics

Knowing the specifics of your car insurance policy aids in choosing which coverages you need for your vehicles. Policy terminology can be impossible to understand and nobody wants to actually read their policy. These are typical coverages offered by car insurance companies.

Auto liability insurance

Liability insurance will cover injuries or damage you cause to people or other property that is your fault. This insurance protects YOU against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability insurance covers claims such as emergency aid, pain and suffering, funeral expenses and repair bills for other people’s vehicles. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Protection from uninsured/underinsured drivers

This protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

Medical expense insurance

Med pay and PIP coverage reimburse you for expenses for dental work, hospital visits, prosthetic devices and nursing services. The coverages can be used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Coverage for collisions

Collision insurance pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision coverage protects against claims such as rolling your car, backing into a parked car, sustaining damage from a pot hole, crashing into a building and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Comprehensive (Other than Collision)

This covers 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 insurance covers things like hail damage, vandalism, a tree branch falling on your vehicle, falling objects and damage from flooding. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

More choices the merrier

As you restructure your insurance plan, it’s a bad idea to reduce needed coverages to save money. There are too many instances where someone sacrificed liability coverage limits only to regret that it was a big mistake. Your strategy should be to buy a smart amount of coverage at a price you can afford while still protecting your assets.

The cheapest 1998 BMW M3 insurance is possible from both online companies and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates. Some companies may not provide online quoting and many times these smaller companies only sell through independent insurance agents.

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