How many times have you said it’s time to compare lower-priced car insurance rates in Seattle, WA? Seattle drivers have options when trying to find affordable BMW M3 insurance. They can either spend hours calling around to get rate comparisons or leverage the internet to compare rates. There are more efficient ways to compare car insurance rates and you need to know the proper way to compare rates on a BMW and get the lowest price from both online companies and Seattle agents.
Low-cost BMW insurance rate quotes in Seattle
The companies shown below have been selected to offer free rate quotes in Seattle, WA. If multiple providers are shown, we suggest you compare several of them in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|M3 4-Dr Sedan||$168||$382||$334||$20||$100||$1,004||$84|
|M3 CI 2-Dr Coupe||$394||$658||$386||$22||$116||$1,576||$131|
|M3 2-Dr Convertible||$346||$658||$294||$18||$88||$1,404||$117|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Washington minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Rates do not factor in specific garaging location which can lower or raise premium rates significantly.
Does full coverage make sense?
The example below shows the difference between BMW M3 insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no driving violations, no at-fault accidents, $100 deductibles, married male driver, and no additional discounts are factored in.
Should you pay for full coverage?
There is no set guideline for eliminating comp and collision coverage, but there is a general school of thought. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your BMW M3 claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying your policy deductible. If it’s costing in excess of $300 a year to have full coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where dropping physical damage coverage is not a good plan. If you haven’t paid off your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Why Your Insurance Prices might be higher
It’s important that you understand the different types of things that help determine the price you pay for auto insurance. When consumers understand what determines base rates, this helps enable you to make changes that may reward you with big savings. Many different elements are part of the equation when quoting car insurance. A few of the factors are predictable like an MVR report, but other factors are less obvious like your continuous coverage or your commute time.
The factors shown below are some of the things utilized by car insurance companies to help set prices.
- Tough vocation may mean higher rates – Do you work in a high-stress field? Occupations like doctors, airline pilots, and miners generally pay higher average rates in part from intense work situations and lengthy work days. On the flip side, occupations like farmers, students and performers pay the least.
- Pay more for higher performance vehicles – The performance level of the car or truck you need to insure makes a big difference in the rate you pay. The cheapest rates are generally reserved for small economy passenger models, but your final cost has many other factors. Since the BMW M3 is classified as a luxury sports car, insurance will be up to twice as much when compared to the average rates in Seattle.
- Premiums increase with policy add-ons – Insurance policies have a lot of extra add-on coverages that you can buy if you aren’t careful. Add-on coverages like roadside assistance, high-cost glass coverage, and membership fees are examples of these. The coverages may be enticing initially, but now you might not need them so eliminate the coverages to reduce your premium.
- Car features impact premiums – Buying a car with anti-theft technology or alarm system can earn a premium discount. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
- BMW M3 insurance loss probability – Car insurance companies factor in historical loss data in order to profitably underwrite each model. Vehicles that the statistics show to have high amounts or severity of claims will cost more to insure. The table below outlines the loss history for BMW M3 vehicles.
For each type of coverage, the claim probability for all vehicles averaged together is a value of 100. Percentage numbers below 100 suggest a positive loss record, while percentages above 100 indicate more frequent claims or a tendency for losses to be larger than average.
Car Insurance Loss Data for BMW M3 Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW M3 4dr 302 186
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Car insurance policy discounts for BMW M3 insurance in Seattle
Some insurers don’t always advertise all discounts in a way that’s easy to find, so the list below details both well-publicized and also the more inconspicuous car insurance savings.
- Senior Citizen Rates – Drivers over the age of 55 can possibly qualify for a discount up to 10%.
- Discount for Life Insurance – Not all companies offer life insurance, but some may give you a break if you buy some life insurance in addition to your auto policy.
- Seattle Homeowners Pay Less – Simply owning a home can save a few bucks because it demonstrates responsibility.
- Sign Early and Save – Some larger companies provide a discount for buying a new policy prior to your current M3 insurance policy expiration. It could save around 10% when you buy Seattle auto insurance online.
- Military Deployment Discount – Being deployed with a military unit may lower your car insurance rates slightly.
Keep in mind that some of the credits will not apply to the whole policy. Some only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you could get a free car insurance policy, it just doesn’t work that way. But any discount will lower the cost of your policy.
Auto insurance companies who may offer many of the previously listed discounts possibly include:
Double check with each insurance company the best way to save money. Some discounts listed above might not apply in your area. To view insurers who offer online BMW M3 insurance quotes in Washington, click here to view.
Local neighborhood agents and insurance
Many people still prefer to get advice from a local agent and that can be a great decision Insurance agents can make sure you are properly covered and help file insurance claims. A nice benefit of price shopping on the web is you can get better rates and still choose a local agent.
To make it easy to find an agent, after completing this quick form, your insurance data is immediately sent to agents in your area who will give you bids to get your business. It’s much easier because you don’t need to drive around since price quotes are sent instantly to you. If you have a need to get a price quote from a specific company, feel free to search and find their rate quote page and fill out the quote form the provide.
Choosing the best provider shouldn’t rely on just the price. These are some valid questions you should ask.
- Can you choose the body shop in case repairs are needed?
- Will high miles depreciate repair valuations?
- Do they offer rental car reimbursement?
- Are they giving you every discount you deserve?
- Where are claims handled?
- Is the quote a firm price?
- Is coverage determined by price?
Shown below is a list of car insurance companies in Seattle who can help you get price quote information for BMW M3 insurance in Seattle.
- Luan Vu – State Farm Insurance Agent
6951 Martin Luther King Jr Way S #224 – Seattle, WA 98118 – (206) 243-3041 – View Map
- Allstate Insurance: Carmelita Strong
5959 Martin Luther King Jr Way S – Seattle, WA 98118 – (206) 725-8969 – View Map
- Melinda Elkin – State Farm Insurance Agent
7104 Greenwood Ave N – Seattle, WA 98103 – (206) 784-6560 – View Map
- Brent Amacher – State Farm Insurance Agent
2319 California Ave SW Ste A – Seattle, WA 98116 – (206) 935-0499 – View Map
The auto insurance bait and switch
Consumers in Washington can’t avoid all the ads for auto insurance savings from companies such as Progressive, GEICO, Allstate and State Farm. They all seem to advertise claims that you’ll save big after switching your coverage to them.
But how can every company offer you a better deal on BMW M3 insurance in Seattle? You have to listen carefully.
Many companies give the best rates for the type of driver that will add to their bottom line. One example of this type of driver could be a married male, has never had a policy lapse, and has great credit. Any person who matches those parameters will get very good Seattle car insurance rates and will also save when switching.
Potential insureds who are not a match for the ideal profile must pay higher premiums and this can result in business going elsewhere. The wording the ads use say “drivers who switch” not “everyone who quotes” can get the lowest rates when switching. That’s why companies can truthfully lure you into getting a quote. Because of the profiling, you really need to get price quotes at each policy renewal. You cannot predict with any certainty which company will have the best rates at this point in time.
Do I need special coverages?
When it comes to buying your policy for your personal vehicles, there isn’t really a best way to insure your cars. Everyone’s needs are different and a cookie cutter policy won’t apply.
Here are some questions about coverages that can help discover whether you may require specific advice.
- Can I drive in Mexico and have coverage?
- Do I need replacement cost coverage?
- Does insurance cover damages from a DUI accident?
- How high should deductibles be on a BMW M3?
- Can I still get insurance after a DUI?
- What is an umbrella policy?
If it’s difficult to answer those questions then you might want to talk to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.
Persistence is the key to cheaper rates
You just read a lot of ways to reduce BMW M3 insurance car insurance rates online in Seattle. The key thing to remember is the more you quote Seattle auto insurance, the more likely it is that you will get a better rate. Consumers could even find that the biggest savings come from some of the lesser-known companies. These companies may only write in your state and offer lower premium rates than their larger competitors like Progressive or GEICO.
Budget-friendly auto insurance in Seattle is definitely available from both online companies and with local Seattle insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance providers do not offer internet price quotes and most of the time these smaller companies work with local independent agents.
As you go through the steps to switch your coverage, it’s very important that you do not skimp on coverage in order to save money. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits only to regret at claim time that it was a big error on their part. Your goal is to buy a smart amount of coverage at the lowest possible cost, but do not skimp to save money.
More information is located at these links:
- A Tree Fell on Your Car: Now What? (Allstate)
- Who Has Affordable Seattle Auto Insurance Quotes for Drivers Requiring a SR22? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Seattle? (FAQ)
- Who Has Affordable Seattle Car Insurance Quotes for Lyft Drivers? (FAQ)
- Event Data Recorders FAQ (iihs.org)
- Teen Driving Statistics (iihs.org)