Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Nov 16, 2017

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Did you make the mistake of buying an overpriced insurance coverage policy? Believe me, many drivers feel the same as you.

You have so many car insurance companies to buy insurance from, and even though it’s nice to have multiple companies, having more car insurance companies makes it harder to compare rates and find the lowest cost insurance coverage.

It’s a great practice to do price comparisons before your policy renews since insurance prices are usually higher with each renewal. Even if you think you had the best quotes on M3 insurance last year the chances are good that you can find a lower rate today. You can find a lot of information about insurance coverage out there, but by reading this article, you’re going to learn some great ideas on how to find affordable insurance coverage.

Compare auto insurance rates

When looking for cheap insurance quotes, there are a couple ways to get quotes from local auto insurance companies. By far the easiest way to find the lowest BMW M3 rates involves getting comparison quotes online. It’s really quite simple and can be done in several different ways.

The best way to get quotes is to use a rate comparison form click here to open form in new window. This quick form saves time by eliminating repetitive form submissions to each individual auto insurance company. Filling out one form gets prices estimates from multiple companies.

A slightly less efficient method to shop for auto insurance online requires visiting each company’s website and complete a new quote form. For sake of this example, let’s say you want comparison quotes from State Farm, Progressive and Allstate. To do that, you would have to navigate to each company’s site to enter the same coverage data repeatedly, which is why the first method is quicker.

To view a list of companies in your area, click here.

Even if you have time, the least recommended method to shop rates is to drive around to insurance agents’ offices. Doing it all online has made agencies unnecessary unless your situation requires the personal advice that you can only get from talking to an agent. It is possible with some companies find lower rates online but still have the advice of a local agent.

It’s your choice how you get your quotes, but make sure you compare equivalent coverages and limits on every quote you get. If you have different limits and deductibles on each one you will not be able to make a fair rate comparison. Even a minor difference in limits may result in large price differences. And when price shopping your coverage, making a lot of price comparisons increases your odds of finding the best price. Some regional insurers cannot provide online price quotes, so it’s necessary to compare price estimates from them, too.

Enter your zip code below to view companies that have cheap auto insurance rates.

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More discounts mean cheaper premiums

Auto insurance is expensive, but you may find discounts to help bring down the price. Larger premium reductions will be automatically applied when you purchase, but less common discounts must be asked for prior to receiving the credit.

  • Senior Citizens – Seniors may be able to get a slight reduction on a insurance quote on M3 insurance.
  • Distant Student – who attend college more than 100 miles from home and won’t have access to an insured vehicle can receive lower rates.
  • ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can reduce accidents so you can save 10 percent or more.
  • Discounts for Federal Employees – Active or former government employment could cut as much as 10% off on M3 insurance but check with your company.
  • Multi-car Discount – Having more than one vehicle on a single policy can reduce the rates for all insured vehicles.
  • Switch and Save Discount – Select companies give a discount for renewing your policy prior to your current policy expiration. Ten percent is about the average savings.

A little note about advertised discounts, some credits don’t apply to your bottom line cost. The majority will only reduce the cost of specific coverages such as medical payments or collision. Even though it may seem like you could get a free auto insurance policy, company stockholders wouldn’t be very happy. Any amount of discount will bring down the premium cost.

A list of companies and their possible discounts are outlined below.

  • American Family has discounts for TimeAway discount, accident-free, mySafetyValet, good driver, and defensive driver.
  • State Farm offers discounts for safe vehicle, Drive Safe & Save, good driver, driver’s education, and multiple autos.
  • 21st Century includes discounts for early bird, air bags, anti-lock brakes, defensive driver, automatic seat belts, homeowners, and theft prevention.
  • Travelers offers premium reductions for new car, multi-policy, save driver, driver training, and good student.
  • GEICO may offer discounts for defensive driver, military active duty, daytime running lights, membership and employees, federal employee, emergency military deployment, and multi-vehicle.

If you need lower rates, check with each company or agent to give you their best rates. Some discounts listed above may not apply in your state. To see a list of providers that provide some of the discounts listed above, click this link.

It’s not one size fits all

When buying proper insurance coverage, there really is no “best” method to buy coverage. Every situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that can aid in determining whether or not you might need professional guidance.

  • Does insurance cover tools stolen from my truck?
  • What can I do if my company won’t pay a claim?
  • Am I covered if my car is in a flood?
  • Can I get a multi-policy discount?
  • Does my car insurance cover rental cars?
  • Is my dog or cat covered if injured in an accident?

If you’re not sure about those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.

Coverage specifics

Knowing the specifics of your insurance policy can help you determine which coverages you need for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are typical coverages found on most insurance policies.

Auto collision coverage

Collision insurance pays for damage to your M3 from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for claims like sustaining damage from a pot hole, crashing into a ditch and crashing into a building. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like hitting a deer, damage from getting keyed, a broken windshield, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum amount a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Auto liability insurance

This coverage protects you from damage or injury you incur to other people or property. This insurance protects YOU against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage protects against claims like loss of income, medical services, pain and suffering and bail bonds. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for chiropractic care, X-ray expenses, hospital visits, EMT expenses and nursing services. The coverages can be utilized in addition to your health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries and also any damage incurred to your 2013 BMW M3.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.

Enter your zip code below to view companies that have cheap auto insurance rates.

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More comparisons equals lower rates

There are still a few companies who don’t offer the ability to get a quote online and usually these regional carriers sell through independent insurance agents. Low-cost 2013 BMW M3 insurance can be found on the web and from local insurance agents, and you should compare rates from both to get a complete price analysis.

When buying insurance coverage, never sacrifice coverage to reduce premiums. There are many occasions where an insured cut liability limits or collision coverage only to find out they didn’t have enough coverage. Your objective should be to buy a smart amount of coverage at an affordable rate, but don’t skip important coverages to save money.

Additional insurance information is available below: