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: Oct 5, 2015

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Shoppers have lots of choices when shopping for low-cost BMW M3 insurance. You can either spend your time contacting agents trying to get quotes or save time using the internet to compare rates. There is a right way and a wrong way to compare insurance coverage rates and we’ll show you the quickest way to quote coverages on a BMW and locate the lowest possible price.

Finding the best rates is not that difficult. If you currently have car insurance, you stand a good chance to be able to reduce your rates substantially using these tips. Drivers just need to know how to buy insurance over the internet.

How much is auto insurance?

Most major insurance companies such as Allstate, GEICO and Progressive allow you to get prices direct online. Obtaining pricing doesn’t take much effort as you just enter the coverage amounts you desire into the form. After you complete the form, the system makes automated requests for reports for credit and driving violations and gives you a price quote based on these and other factors.

This helps simplify price comparisons, but having to visit several different sites and type in the same information is a big time waster. But it’s very important to perform this step if you want to get the best price on auto insurance.

A less time-consuming method to find lower prices uses one form to get prices from several companies at one time. This type of form saves time, eliminates form submissions, and makes online quotes a lot less work. After sending the form, it gets priced and you can select your choice of the returned quotes. If a lower price is quoted, you can simply submit the application and purchase coverage. The whole process only takes a few minutes and may save quite a bit of money.

If you want to find out what other companies charge, click here to open in new window and enter your information. If you have a policy now, it’s recommended you duplicate deductibles and limits as close as possible to your current policy. This guarantees you will get rate quotes for exact coverage.

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

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Discount auto insurance rates

Some insurers do not list every possible discount very clearly, so below is a list some of the best known and also the lesser-known discounts that may be available.

  • Anti-lock Brake Discount – Vehicles with ABS and/or traction control have fewer accidents and earn discounts up to 10%.
  • E-sign Discounts – Certain insurance companies will give you a small discount for completing your application on the internet.
  • Save over 55 – Mature drivers may qualify for lower premium rates for M3 insurance.
  • Accident Waiver – This one is not really a discount per se, but a handful of insurance companies permit an accident before hitting you with a surcharge if you are claim-free for a certain period of time.
  • Savings for New Vehicles – Buying coverage on a new vehicle can save up to 30% due to better safety requirements for newer vehicles.
  • Bundle and Save – If you insure your home and vehicles with the same insurance company they may give you a discount of over 10 percent off each policy depending on the company.

As a footnote on discounts, most credits do not apply to all coverage premiums. Most only apply to individual premiums such as collision or personal injury protection. Just because it seems like you can get free auto insurance, you won’t be that lucky.

Popular auto insurance companies and some of their more popular discounts can be found below.

  • Esurance offers premium reductions for safety device, multi-car, Switch & Save, defensive driver, online shopper, and claim free.
  • The Hartford may include discounts for vehicle fuel type, driver training, anti-theft, good student, defensive driver, and bundle.
  • AAA offers discounts including multi-policy, education and occupation, anti-theft, good student, and pay-in-full.
  • GEICO offers discounts for five-year accident-free, federal employee, daytime running lights, anti-theft, air bags, good student, and multi-vehicle.
  • State Farm includes discounts for safe vehicle, multiple autos, multiple policy, accident-free, driver’s education, good driver, and good student.

If you want the cheapest auto insurance quotes, ask every prospective company how many discounts you can get. A few discounts might not be offered in your state.

Tailor your insurance coverage coverage to you

When choosing proper insurance coverage, there isn’t really a “perfect” insurance plan. Every situation is different.

For instance, these questions may help you determine whether you might need an agent’s assistance.

  • How much liability insurance is required?
  • Are my tools covered if they get stolen from my vehicle?
  • Are rock chip repairs covered?
  • Do I have coverage when making deliveries for my home business?
  • Should I buy full coverage?
  • Does liability extend to a camper or trailer?

If you don’t know the answers to these questions but a few of them apply then you might want to talk to an agent. To find an agent in your area, simply complete this short form. It’s fast, free and can help protect your family.

Auto insurance coverages

Understanding the coverages of a car insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Collision – This pays for damage to your M3 resulting from a collision with an object or car. A deductible applies then your collision coverage will kick in.

Collision can pay for things like damaging your car on a curb, rolling your car, hitting a parking meter, crashing into a building and hitting a mailbox. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to bring the cost down.

Comprehensive insurance – Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like rock chips in glass, falling objects and a broken windshield. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your 2015 BMW M3.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Coverage for liability – This can cover damages or injuries you inflict on other’s property or people by causing an accident. It protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 50/100/50 which means a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for things like bail bonds, attorney fees, structural damage and court costs. How much liability coverage do you need? That is up to you, but consider buying higher limits if possible.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for short-term medical expenses such as X-ray expenses, prosthetic devices, nursing services and chiropractic care. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage