Auto Insurance Quotes for a BMW M3 in Aurora

Insurance for BMW M3Unimaginable but true, over 70% of drivers kept their policy with the same company for a minimum of four years, and practically 40% of auto insurance customers have never compared quotes from other companies. With the average premium in Colorado being $1,813, drivers could save themselves 35% a year, but they don’t understand how simple it is to do a rate comparison.

The easiest way to find lower priced BMW M3 insurance is to make a habit of comparing prices annually from companies in Aurora.

Step 1: Take a few minutes and learn about policy coverages and the factors you can control to keep rates down. Many rating factors that cause high rates such as traffic violations and a substandard credit history can be remedied by making lifestyle changes or driving safer. Keep reading for more ideas to lower rates and find missing discounts.

Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from a single company like Progressive or Allstate, while agents who are independent can provide prices for many different companies.

Step 3: Compare the price quotes to your existing rates to see if cheaper M3 coverage is available. If you find a lower rate quote and make a switch, ensure coverage does not lapse between policies.

An essential thing to point out is to make sure you enter similar coverage information on every price quote and and to get rates from as many car insurance companies as possible. Doing this helps ensure an apples-to-apples comparison and the best price selection.

Many insurance companies like Allstate and Progressive make it easy to get coverage price quotes on their websites. Getting BMW M3 insurance prices online is pretty painless as all you need to do is type in your personal and coverage information into a form. After the form is submitted, the system obtains reports for credit and driving violations and generates a price. Being able to quote online for BMW M3 insurance in Aurora simplifies rate comparisons, and it’s also necessary to have as many quotes as possible if you are searching for cheap rates.

To save time and compare pricing, compare rates from the companies below. If you have a policy now, it’s recommended that you enter coverages and limits exactly as they are listed on your policy. Doing this assures you will have rate comparison quotes based on the exact same insurance coverage.

The following companies can provide price quotes in Aurora, CO. To buy the best auto insurance in Aurora, CO, we recommend you visit as many as you can to get a more complete price comparison.

Data for BMW M3 insurance

The table shown next highlights different insurance coverage prices for BMW M3 models. Understanding more about how policy rates are formulated is important for making smart choices when selecting a coverage provider.

BMW M3 Insurance Rates in Aurora, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $362 $794 $456 $28 $136 $1,776 $148
M3 CI 2-Dr Coupe $394 $886 $456 $28 $136 $1,900 $158
M3 2-Dr Convertible $394 $886 $456 $28 $136 $1,900 $158
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Rate quotes do not factor in the specific area where the vehicle is garaged which can modify premium rates considerably.

Rate comparison for different deductibles

When shopping for insurance, a common question is how high or low should comp and collision deductibles be. The tables below illustrate the rate fluctuation between low and high comp and collision deductibles. The first set of rates uses a $100 deductible and the second set of prices uses a $500 deductible.

BMW M3 insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $420 $838 $352 $20 $106 $1,761 $147
M3 CI 2-Dr Coupe $458 $936 $352 $20 $106 $1,897 $158
M3 2-Dr Convertible $458 $936 $352 $20 $106 $1,897 $158
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BMW M3 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $306 $566 $352 $20 $106 $1,350 $113
M3 CI 2-Dr Coupe $334 $632 $352 $20 $106 $1,444 $120
M3 2-Dr Convertible $334 $632 $352 $20 $106 $1,444 $120
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Estimates do not factor in the specific area where the vehicle is garaged which can alter prices significantly.

We can estimate from the data above that using a $100 deductible would cost the average driver about $36 more each month or $432 for a full year than requesting the higher $500 deductible. Because you would be required to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you tend to go at a minimum 11 months between claim filings, you would probably come out ahead if you opt for a higher deductible.

Does full coverage make sense?

The chart below shows the comparison of BMW M3 insurance prices with and without physical damage coverage. Data assumes a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no clear-cut formula of when to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your BMW M3 replacement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after paying your policy deductible. If it’s costing in excess of $500 annually for physical damage coverage, then you might want to think about dropping full coverage.

There are some cases where only buying liability is not advised. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

Three reasons car insurance is important

Despite the potentially high cost of BMW M3 insurance, insuring your vehicle is required in Colorado but it also protects you in many ways.

The benefits of insuring your M3 more than cancel out the cost, especially when you need to use it. In a recent study of 1,000 drivers, the average customer is wasting up to $830 a year so shop around at every renewal to be sure current rates are still competitive.

How Car Insurance Companies Determine BMW M3 Insurance Premiums

Lots of factors are used when you get your auto insurance bill. Some of the criteria are obvious such as your driving history, but some are more transparent such as whether you are married or your vehicle rating.

The list below includes a partial list of the pieces used by companies to determine prices.

Which is the best auto insurance?

Always remember that when buying a policy, there really is not a best way to insure your cars. Every situation is different and your auto insurance should unique, too.Safe vehicles cost less to insure
For example, these questions might point out if your insurance needs might need professional guidance.

If you’re not sure about those questions but a few of them apply then you might want to talk to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and can help protect your family.

Don’t give up on cheap premiums

As you restructure your insurance plan, do not buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed liability coverage limits only to regret at claim time that it was a big mistake. Your aim should be to find the BEST coverage at an affordable rate while still protecting your assets.

Some car insurance companies may not provide internet price quotes and these small, regional companies prefer to sell through independent agencies. Cheaper BMW M3 insurance in Aurora can be bought on the web in addition to many Aurora insurance agents, and you should be comparing both in order to have the best chance of saving money.

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