Want to learn a better way to compare more affordable BMW M3 insurance in Denver? Are you irritated from sacrificing other expenses to pay your car insurance bill each month? Your situation is no different than many other people in Colorado.
Unthinkable but true, the vast majority of consumers renewed their policy with the same company for a minimum of four years, and just short of a majority have never shopped around. Denver drivers can save 35% each year just by comparing rates, but they don’t want to take the time to do a rate comparison. Lots of insurers contend to insure your vehicles, so it’s not easy to compare every insurer and get the best coverage at the lowest price on BMW M3 insurance in Denver.
If you are already insured or need new coverage, use these money-saving tips to save money and still have adequate protection. Buying the cheapest car insurance in Denver can really be easy if you know what you’re doing. Drivers only need an understanding of the quickest method to shop online.
Lower-cost BMW M3 insurance in Denver
Companies offering auto insurance don’t necessarily list every available discount very well, so the below list has both the well known and also the lesser-known discounts that you may qualify for.
- Government Employee Discount – Active or former government employment may qualify for a discount when you quote Denver auto insurance with select insurance companies.
- Discount for Low Mileage – Driving fewer miles can qualify you for lower rates due to less chance of an accident.
- Organization Discounts – Being a member of certain professional organizations could earn you a nice discount on your policy.
- Theft Prevention Discount – Anti-theft and alarm system equipped vehicles are less likely to be stolen and will save you 10% or more on M3 insurance in Denver.
- Driver Safety – Passing a course that instructs on driving safety can save you 5% or more and easily pay for the cost of the class.
- Accident Waiver – This one isn’t a discount, but companies like GEICO, Progressive, and Allstate will turn a blind eye to one accident without raising rates so long as you haven’t had any claims for a specific time period.
Discounts lower rates, but many deductions do not apply to the overall cost of the policy. The majority will only reduce specific coverage prices like liability and collision coverage. Despite the appearance that adding up those discounts means a free policy, companies wouldn’t make money that way.
If you would like to choose from a list of insurers that have a full spectrum of discounts in Colorado, follow this link.
The following companies can provide free rate quotes in Colorado. If the list has multiple companies, we recommend you click on several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|M3 4-Dr Sedan||$360||$822||$396||$24||$118||$1,720||$143|
|M3 CI 2-Dr Coupe||$288||$620||$396||$24||$118||$1,446||$121|
|M3 2-Dr Convertible||$416||$860||$362||$22||$108||$1,768||$147|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Information does not factor in specific zip code location which can increase or decrease premiums substantially.
Impact of violations and accidents on rates
The information below shows how speeding tickets and accident claims can affect BMW M3 premium costs for each age group. The price estimates are based on a single female driver, full coverage, $500 deductibles, and no discounts are factored in.
Does full coverage make sense?
The diagram below illustrates the comparison of BMW M3 yearly insurance costs when comparing full coverage to state minimum liability only. The premium estimates are based on no accidents, no driving violations, $1,000 deductibles, single male driver, and no discounts are taken into consideration.
Should you pay for full coverage or liability only?
There is no clear-cut formula for excluding full coverage, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s assume your BMW M3 book value is $6,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $5,000 after paying your policy deductible. If you are paying over $500 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are some cases where dropping physical damage coverage is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage in place.
Premiums by gender and age
The diagram below visualizes the comparison of BMW M3 car insurance costs for male and female drivers. The rates are based on no claims or driving citations, comprehensive and collision coverage, $500 deductibles, single marital status, and no discounts are factored in.
Do I need special coverages?
When quoting and choosing the best insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Every situation is different.
For instance, these questions may help you determine if your situation could use an agent’s help.
- Does my policy cover my teen driver if they drive my company car?
- Does coverage extend to my business vehicle?
- Do I have newly-aquired coverage?
- Do I need replacement cost coverage?
- Is my BMW M3 covered for smoke damage?
- What policy terms are available?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It only takes a few minutes and can help protect your family.
Local agents and insurance
Certain consumers just prefer to get professional advice from a licensed agent and we recommend doing that Experienced insurance agents are trained risk managers and give you someone to call. An additional benefit of comparing rates online is the fact that you can find cheap insurance quotes and still have a local agent.
To find an agent, once you fill out this short form, the coverage information gets sent to local insurance agents in Denver who will return price quotes for your coverage. You won’t even need to contact any insurance agencies due to the fact that quote results will go immediately to your email address. If for some reason you want to get a price quote from one company in particular, you just need to visit that company’s website and give them your coverage information.
Finding the right insurer shouldn’t rely on just the bottom line cost. The questions below may impact your decision as well.
- Can they provide you with a list of referrals?
- How are claims handled?
- Is coverage determined by price?
- How much experience to they have in personal lines coverages?
- What insurance companies do they work with in Denver?
If you need to find a good Denver insurance agent, it’s important to understand the different types of agencies and how they can quote your rates. Agents are considered either exclusive agents or independent agents. Either one can properly insure your vehicles, but it’s a good idea to understand why they differ since it could factor into the type of agent you choose.
Agents in the exclusive channel can usually just insure with one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. These agents are not able to shop your coverage around so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are well schooled on their company’s products which helps them compete with independent agents.
Listed below is a short list of exclusive insurance agencies in Denver who can help you get price quotes.
Caramel Russell-Rouse – State Farm Insurance Agent
999 S Monaco Pkwy #200 – Denver, CO 80224 – (303) 424-0420 – View Map
Independent Agents (or Brokers)
Agents of this type are not required to write business for one company so they can quote policies amongst many companies and find the cheapest rate. If you are not satisfied with one company, your agent can just switch to a different company which requires no work on your part.
If you need lower rates, we recommend you get some free quotes from at least one independent agent for the best price selection.
The following are Denver independent agents who can help you get comparison quotes.
Once you have received positive responses for all questions you ask and locked in a price quote, you have narrowed it down to an insurance agency that meets the criteria to properly service your insurance policy.
Don’t give up on affordable coverage
We covered a lot of techniques to find cheaper BMW M3 insurance in Denver. The key thing to remember is the more providers you compare, the better likelihood of getting the cheapest BMW M3 rate quotes. Drivers may even discover the best price on auto insurance is with some of the lesser-known companies.
As you prepare to switch companies, it’s very important that you do not reduce coverage to reduce premium. In too many instances, an accident victim reduced liability limits or collision coverage only to discover later that the small savings ended up costing them much more. The goal is to purchase plenty of coverage at the best cost, not the least amount of coverage.
Budget-friendly auto insurance in Denver is possible on the web and from local insurance agents, and you should compare rates from both to have the best chance of lowering rates. Some companies don’t offer price quotes online and most of the time these regional carriers only sell through local independent agencies.
For more information, link through to the following helpful articles:
- Auto Insurance 101 (About.com)
- Who Has the Cheapest Car Insurance Quotes for Drivers Over Age 50 in Denver? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Veterans in Denver? (FAQ)
- Distracted Driving Statistics (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)