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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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

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: Oct 6, 2015

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Trying to find lower insurance coverage rates for your BMW M6? Are you a victim of an expensive insurance coverage policy? You’re in good company because you’re not the only one. Many insurance companies compete for your business, so it’s not easy to compare every insurer to find the absolute best rate

Insurance companies offer many discounts

The cost of insuring your cars can be expensive, but you might be missing out on some discounts to help bring down the price. Larger premium reductions will be automatically applied at the time of quoting, but a few need to be asked about in order for you to get them.

  • Good Student – A discount for being a good student can get you a discount of up to 25%. The discount lasts up to age 25.
  • Anti-lock Brakes – Cars and trucks with ABS and/or traction control can stop better under adverse conditions so you can save 10 percent or more.
  • No Claims – Drivers with accident-free driving histories are rewarded with significantly better rates on auto insurance quote in comparison to insureds who have frequent claims or accidents.
  • Theft Deterent – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and qualify for as much as a 10% discount.
  • Discounts for Cautious Drivers – Drivers who don’t get into accidents can save up to 40% or more on their auto insurance quote on M6 insurance as compared to drivers with claims.
  • Data Collection Discounts – Drivers who agree to allow driving data submission to track their driving habits by using a telematics device such as State Farm’s In-Drive could save a few bucks if they are good drivers.
  • Defensive Driver – Completing a safe driver course could save 5% or more and make you a better driver.
  • Senior Citizen Rates – If you’re over the age of 55, you may receive a discount up to 10% on M6 insurance.
  • Drive Less and Save – Low mileage vehicles may allow you to get discounted premium rates on garaged vehicles.

One thing to note about discounts is that most of the big mark downs will not be given to all coverage premiums. Most only cut specific coverage prices like medical payments or collision. So despite the fact that it appears it’s possible to get free car insurance, companies wouldn’t make money that way.

To see a list of providers that offer discounts, click here to view.

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

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Eight things that impact your insurance rates

Many things are part of the calculation when you get your auto insurance bill. Most are fairly basic such as your driving record, but other criteria are not as apparent such as your credit history or your commute time.Smart consumers have a good feel for some of the elements that aid in calculating insurance rates. When you understand what impacts premium levels, this enables informed choices that will entitle you to cheaper rates.

The following are some of the items used by your company to calculate your prices.

  • High deductibles equal low rates – Insurance for physical damage to your car, also known as collision and other-than-collision, covers your vehicle from damage. Examples of covered claims could be a dented fender, flood damage, and rolling your vehicle. Deductibles for physical damage are how much you are willing to pay if the claim is covered. The more money you have to pay, the lower your rates will be on M6 insurance.
  • Premiums also based on gender – The statistics show females are less aggressive when driving. The data does not necessarily mean that females are better at driving than males. Women and men are in at-fault accidents at a similar rate, but males tend to have higher claims. In addition to higher claims, males also receive more major tickets like DUI and reckless driving.
  • Driver age impacts premiums – Older drivers have been proven to be more responsible, cost insurance companies less in claims and get fewer tickets.Youthful drivers are known to be inattentive when at the wheel of a vehicle so insurance rates are higher.
  • Save money by having excellent credit – Having a bad credit history factor in calculating your insurance rates. People with high credit scores tend to be more responsible and file fewer claims than drivers with bad credit. Therefore, if your credit score is low, you could potentially save money when insuring your 2014 BMW M6 by repairing your credit.
  • Married drivers get better prices – Your spouse helps lower the price on your insurance bill. Having a spouse is viewed as being more financially stable and it’s statistically proven that married drivers tend to have fewer serious accidents.
  • Commute or pleasure use – The more you drive your BMW in a year the higher your rates will be. A lot of companies charge rates determined by how the vehicle is used. Cars that have low annual miles qualify for better rates compared to those used for work or business. Having the wrong rating on your M6 can result in significantly higher rates. It’s a good idea to make sure your insurance policy properly reflects the proper vehicle usage, because it can save money.
  • Your stress level may be raising your prices – Careers such as real estate brokers, social workers and financial analysts tend to have higher rates than average because of stressful work requirements and lots of time spent away from family. Other careers such as farmers, engineers and retirees pay lower than average rates on M6 insurance.
  • Don’t cancel your policy without a new one in place – Not maintaining insurance is a misdemeanor and you will pay a penalty because you let your insurance lapse for non-payment. And not only will insurance be more expensive, failure to provide proof of insurance could result in fines and jail time. You may have to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.

Do I just need basic coverages?

When it comes to buying proper insurance coverage for your vehicles, there really is not a one size fits all plan. Everyone’s situation is unique and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether or not you may require specific advice.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I have coverage for damage caused while driving under the influence?
  • If my 2014 BMW M6 is totaled, can I afford another vehicle?
  • Why am I required to get a high-risk car insurance policy?
  • Should I buy full coverage?
  • Is my trailer covered?
  • Why do I need rental car insurance?
  • Can I rent a car in Mexico?
  • Are split liability limits better than a combined single limit?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier It’s fast, free and you can get the answers you need.

Auto insurance coverage specifics

Knowing the specifics of a auto insurance policy can help you determine the right coverages at the best deductibles and correct limits. Auto insurance terms can be confusing and coverage can change by endorsement. Below you’ll find the normal coverages found on the average auto insurance policy.

Collision coverage – Collision coverage pays for damage to your M6 resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as sustaining damage from a pot hole, scraping a guard rail, backing into a parked car, driving through your garage door and crashing into a building. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance kick in for bills such as ambulance fees, hospital visits, prosthetic devices and funeral costs. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Liability coverages – This coverage will cover damage that occurs to people or other property in an accident. It protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Alternatively, you may have a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as repair bills for other people’s vehicles, repair costs for stationary objects, loss of income and court costs. How much liability coverage do you need? That is a personal decision, but consider buying as much as you can afford.

Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time the UM/UIM limits are set the same as your liablity limits.

Comprehensive coverage – Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from a tornado or hurricane, hail damage, a broken windshield, damage from flooding and a tree branch falling on your vehicle. The highest amount a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

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

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Smart shoppers get results

We just covered some good ideas how you can reduce 2014 BMW M6 insurance auto insurance rates online. It’s most important to understand that the more price quotes you have, the more likely it is that you will get a better rate. You may even find the lowest auto insurance rates are with some of the smallest insurance companies. These smaller insurers often have lower premium rates on specific markets than their larger competitors like Progressive and GEICO.

Budget-friendly car insurance is available online and from local agencies, and you should compare rates from both to have the best rate selection. Some insurance companies may not have the ability to get a quote online and many times these regional carriers prefer to sell through independent insurance agents.

Even more information can be found by following these links: