Want to know an easy way to compare more affordable BMW M2 insurance in Denver? Having to pay for expensive auto insurance in Denver can draw down your bank account and force you to cut corners elsewhere.
Astonishing but true, over 70% of consumers have remained with the same auto insurance company for a minimum of four years, and almost half have never shopped around. With the average premium in Colorado being $1,813, drivers could cut their rates by nearly $610 a year by just shopping around, but they don’t believe the amount of savings they would get if they just switched companies.
Having so many insurance companies to choose from that have lower-cost insurance for a BMW M2 in Denver, it’s nearly impossible to pick a lower cost auto insurance company.
You should make it a habit to do rate comparisons before your next renewal because insurance prices fluctuate regularly. Despite the fact that you may have had the best deal on BMW M2 insurance in Denver a few years ago there may be better deals available now. Forget all the misinformation about auto insurance because we’re going to show you the tricks you need to know to properly buy coverages and cut your premium.
Best companies for affordable BMW M2 insurance in Colorado
The following companies provide free quotes in Denver, CO. If the list has multiple companies, we suggest you visit as many as you can to get a more complete price comparison.
Cheaper BMW M2 insurance in Denver
Insuring your fleet can be pricey, but there could be available discounts that can drop the cost substantially. A few discounts will automatically apply when you complete an application, but occasionally some discounts must be asked for prior to receiving the credit. If you do not double check each discount you qualify for, it’s possible you qualify for a lower rate.
- Switch and Save Discount – Select companies give a discount for renewing your policy before your current coverage expires. You could save around 10% when you buy Denver auto insurance online.
- Theft Prevention System – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and will qualify for a discount on a Denver auto insurance quote.
- Seat Belts Save – Drivers who require all occupants to wear their seat belts can save up to 15% on medical payment and PIP coverage.
- Active Military Service – Having a deployed family member could be rewarded with lower rates.
- Drive Safe and Save – Accident-free drivers may receive a discount up to 45% as compared to drivers with claims.
- ABS Brakes – Cars and trucks with ABS braking systems or traction control prevent accidents and earn discounts up to 10%.
A little disclaimer on discounts, most credits do not apply to your bottom line cost. Most only apply to the cost of specific coverages such as comp or med pay. Even though the math looks like all those discounts means the company will pay you, you won’t be that lucky. But all discounts should help lower your policy premiums.
A few popular companies and a selection of discounts are included below.
- Progressive may have discounts that include multi-policy, online quote discount, online signing, continuous coverage, good student, homeowner, and multi-vehicle.
- Farmers Insurance has savings for business and professional, multi-car, alternative fuel, distant student, youthful driver, switch companies, and homeowner.
- Farm Bureau policyholders can earn discounts including renewal discount, driver training, safe driver, youthful driver, 55 and retired, multi-policy, and good student.
- State Farm has discounts for multiple autos, multiple policy, defensive driving training, passive restraint, safe vehicle, and Steer Clear safe driver discount.
- GEICO may offer discounts for membership and employees, seat belt use, emergency military deployment, five-year accident-free, driver training, air bags, and defensive driver.
- SAFECO offers discounts for homeowner, safe driver, teen safe driver, anti-theft, and drive less.
- Liberty Mutual offers discounts including teen driver discount, new graduate, good student, newly retired, preferred payment discount, newly married, and hybrid vehicle.
It’s a good idea to ask every prospective company which discounts they offer. All car insurance discounts might not be offered on policies in Denver. For a list of providers who offer discounts in Colorado, follow this link.
How You Can Control BMW M2 Insurance Premiums
Many factors are used in the calculation when premium rates are determined. Some of the criteria are obvious like your driving record, although some other factors are less obvious such as your marital status or how financially stable you are. Smart consumers have a good feel for some of the things that come into play when calculating the price you pay for car insurance. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can earn you big savings.
The itemized list below are just a few of the factors utilized by car insurance companies to help set your rate level.
- Costs increase with policy add-ons – There are a lot of extra coverages that you can get tricked into buying on your car insurance policy. Coverages for rental car reimbursement, accidental death, and extra equipment coverage may be costing you every month. These coverages may sound good at first, but if you’ve never needed them in the past get rid of them and save.
- Safer vehicles means cheaper premiums – Cars with five star safety ratings tend to have lower insurance rates. These vehicles result in less severe injuries and reduced instances of injuries translates into savings for insurance companies and lower rates for you.
- Raise your deductibles for better costs – The deductibles you choose tell how much you are required to pay if a claim is determined to be covered. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some coverage claims are collision with another vehicle, damage caused by hail, and damage from wind. The more damage repair cost you choose to pay out-of-pocket, the less your car insurance will be.
- Poor credit decisions can cost you – Credit score can be an important factor in determining what you pay for car insurance. People that have very good credit scores tend to be more responsible as compared to drivers with bad credit. So if your credit history can be improved, you could pay less to insure your BMW M2 by improving your credit score.
- BMW M2 historical loss data – Companies take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Models that have higher loss trends will have higher rates. The data below shows the historical insurance loss data for BMW M2 vehicles.
For each policy coverage type, the claim amount for all vehicles averaged together is set at 100. Percentage numbers below 100 indicate a favorable loss history, while values that are above 100 show a trend for more claims or a tendency for losses to be larger than average.
BMW M2 Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW M235 i 2dr 155 277
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
How to know if you need help
Always remember that when buying the best insurance coverage, there really is no best way to insure your cars. Everyone’s situation is unique so your insurance should reflect that
Here are some questions about coverages that may help you determine if your insurance needs might need an agent’s assistance.
- At what point should I drop full coverage?
- Will I lose any money if I cancel my policy before it expires?
- What are the best liability limits?
- Do I have coverage when pulling a U-Haul trailer?
- Is my nanny covered when transporting my kids?
- Does coverage extend to my business vehicle?
- What is an adequate liability insurance limit?
If it’s difficult to answer those questions, you might consider talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
Do I need an insurance agency?
Some consumers would rather sit down with an agent and that is OK! An additional benefit of getting free rate quotes online is that you can obtain cheap car insurance quotes and still buy from a local agent. Putting coverage with local agencies is especially important in Denver.
Once you complete this simple form, the coverage information is submitted to insurance agents in Denver who will return price quotes for your coverage. It makes it easy because there is no need to contact any insurance agencies since price quotes are sent to you. You’ll get the best rates AND a local agent. If you wish to get a rate quote from a specific company, you would need to navigate to their website and complete a quote there.
Pick the best car insurance agent in Denver for you
If you are searching for a reputable insurance agent or broker, there are a couple of types of insurance agents from which to choose. Car insurance agents are either independent (non-exclusive) or exclusive.
Independent insurance agents often have many company appointments and that enables them to quote your coverage with a variety of different insurance companies and potentially find a lower price. If premiums increase, an independent agent can move your coverage and you don’t have to do anything. When comparing rate quotes, you will want to get several quotes from multiple independent agents so that you have a good selection of quotes to compare.
The following is a list of independent agencies in Denver that may be able to give rate quotes.
Exclusive insurance agents can usually just insure with one company like American Family, State Farm, and Allstate. Exclusive agents cannot provide other company’s prices so they really need to provide good service. Exclusive agents are usually quite knowledgeable in insurance sales and that enables them to sell even at higher rates.
Shown below is a list of exclusive agencies in Denver that are able to give rate quotes.
Bao Ngoc Nguyen – State Farm Insurance Agent
1699 S Federal Blvd b – Denver, CO 80219 – (303) 975-1100 – View Map
Deciding on an insurance agent should include more criteria than just the price. These are valid questions to ask:
- Do they have designations such as AIC, CPCU, or CIC?
- Is their price quote a firm figure or are their hidden costs?
- Will a damage claim use OEM or aftermarket replacement parts?
- Does the agency support the community they serve?
- Do they offer accident forgiveness?
Quote often and quote early
Lower-priced car insurance in Denver can be purchased online and also from your neighborhood Denver agents, so you need to shop Denver auto insurance with both in order to have the best price selection to choose from. A few companies may not offer price quotes online and usually these smaller companies provide coverage only through independent agents.
In this article, we covered many tips how you can lower your BMW M2 insurance auto insurance rates in Denver. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the lowest auto insurance rates come from a company that doesn’t do a lot of advertising. They may often insure only within specific states and give better rates as compared to the big name companies such as Allstate and Progressive.
Additional information can be read on the following sites:
- Property Damage Coverage (Liberty Mutual)
- Who Has Cheap Auto Insurance Quotes for a Nissan Sentra in Denver? (FAQ)
- How Much are Denver Car Insurance Quotes for a Toyota Highlander? (FAQ)
- Who Has Cheap Denver Car Insurance for Single Moms? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)