Searching for cheaper insurance for your BMW M3 in Arizona could be difficult, but you can learn the following methods to make it easier. There are both good and bad ways to find car insurance online so we’re going to tell you the absolute fastest way to quote coverages on a BMW and find the cheapest rates either online or from Chandler insurance agents.
Unimaginable but true, over 70% of consumers kept their coverage with the same car insurance company for at least four years, and roughly 40% of drivers have never compared rates with other companies. The average driver in Arizona could save roughly $730 every year just by getting comparison quotes, but they mistakenly think it’s difficult to find affordable car insurance rates.
If you have a current auto insurance policy or just want to save money, you can use these tips to shop for the lowest rates without having to cut coverage. Buying the best-priced protection in Chandler can be fairly easy. Consumers just need to know the least time-consuming way to compare price quotes using one simple form.
The quickest way to compare car insurance company rates for BMW M3 insurance in Chandler is to realize car insurance companies will pay a fee to quote your coverage. All consumers are required to do is give the companies some data like what your job is, driver ages, deductibles desired, and whether the vehicles are used for commuting. Your rating data is submitted instantly to insurance carriers in your area and they return quotes quickly.
To start a rate quote now, click here and see if a lower rate is available in Chandler.
The following companies are our best choices to provide free rate quotes in Arizona. To buy cheap auto insurance in AZ, it’s highly recommended you compare several of them to get the best price comparison.
Insurance rate breakdown
The price information displayed next showcases different policy rates for BMW M3 models. Having knowledge of how insurance policy premiums are formulated can help guide drivers when making smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $276 | $618 | $338 | $20 | $102 | $1,354 | $113 |
| M3 CI 2-Dr Coupe | $302 | $688 | $338 | $20 | $102 | $1,450 | $121 |
| M3 2-Dr Convertible | $302 | $688 | $338 | $20 | $102 | $1,450 | $121 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Price information does not factor in vehicle location which can lower or raise coverage prices greatly.
Where to set your deductibles
One of the most common insurance questions is where to set your physical damage deductibles. The figures shown below may help to conceptualize the rate difference when you buy lower versus higher physical damage deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $358 | $716 | $300 | $18 | $90 | $1,507 | $126 |
| M3 CI 2-Dr Coupe | $390 | $798 | $300 | $18 | $90 | $1,621 | $135 |
| M3 2-Dr Convertible | $390 | $798 | $300 | $18 | $90 | $1,621 | $135 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $198 | $376 | $300 | $18 | $90 | $982 | $82 |
| M3 CI 2-Dr Coupe | $216 | $420 | $300 | $18 | $90 | $1,044 | $87 |
| M3 2-Dr Convertible | $216 | $420 | $300 | $18 | $90 | $1,044 | $87 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Premium amounts do not factor in Chandler location which can increase or decrease insurance rates greatly.
We can estimate from the data above that using a $100 deductible costs an average of $47 more each month or $564 annually than selecting the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 19 months between claims, you would come out ahead if you opt for a higher deductible.
Three reasons to not skimp on car insurance
Despite the high cost, insuring your vehicle is mandatory in Arizona but it also protects more than you think.
First, most states have mandatory liability insurance requirements which means state laws require a minimum amount of liability insurance coverage if you don’t want to risk a ticket. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a loan on your vehicle, it’s most likely the lender will have a requirement that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the bank will be required to insure your BMW for a much higher rate and force you to reimburse them the higher premium.
Third, car insurance preserves your car and your assets. It will also reimburse you for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay to defend you if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of buying enough insurance more than offset the price you pay, particularly for liability claims. The average driver in America is overpaying over $850 per year so you should quote rates at least once a year to save money.
Why Smart Consumers Pay Less for BMW M3 Insurance
The best way to find cheaper auto insurance is to take a look at the factors that aid in calculating your premiums. When consumers understand what controls the rates you pay, this enables informed choices that can help you get better auto insurance rates. Many things are part of the calculation when quoting car insurance. Some are obvious such as traffic violations, but others are less obvious like your vehicle usage or your commute time.
Rural areas have lower prices – Living in a small town may provide you with better prices when insuring your vehicles. Less people living in that area translates into fewer accidents and a lower car theft rate. People in densely populated areas have to deal with traffic congestion and much longer commute distances. The longer drive time means higher likelihood of an accident.
Lower comp and collision deductibles cost more – Protection for physical damage, aka comp and collision, is used to repair damage to your vehicle. Examples of covered claims are collision with another vehicle, damage from fire, and windstorm damage. Comprehensive and collision coverage deductibles are the amount of money you are required to spend out-of-pocket if you file a covered claim. The higher the amount the insured is willing to pay, the less your auto insurance will be.
Do you really need the extra coverages? – Insurance policies have a lot of add-on coverages that sound like a good idea at the time on your M3 policy. Coverages like coverage for rental cars, accident forgiveness, and motor club memberships may be wasting your money. You may think they are a good idea at first, but if they’re wasting money remove them and pocket the money.
Vocation reflects on rates – Did you know your auto insurance rates can be affected by your occupation? Careers such as lawyers, police officers, and financial analysts generally pay higher premiums than the average policyholder due to intense work requirements and long work days. On the other hand, careers like actors, engineers and retirees receive lower rates.
Know your credit rating – Your credit score can be an important factor in determining premium rates. If your credit history is lower than you’d like, you could be paying less to insure your BMW M3 by repairing your credit. People with high credit scores tend to be less risk to insure than drivers with lower credit scores.
Can a thief steal your car? – Driving a car with a theft deterrent system can help lower your premiums. Anti-theft features such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder vehicle theft.
Claims statistics for a BMW M3 – Insurers analyze claim trends for every vehicle when setting rates for each model. Vehicles that historically have increased claim numbers or amounts will cost more for coverage.
The data below shows the compiled insurance loss statistics for BMW M3 vehicles. For each coverage type, the claim amount for all vehicles, as a total average, is equal to 100. Numbers under 100 suggest a positive loss record, while values over 100 point to more frequent losses or statistically larger losses.
| Specific BMW 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
Auto insurance rates and discounts
Some companies don’t list every discount they offer in an easy-to-find place, so the list below details both the well known and also the more inconspicuous discounts that you can inquire about if you buy Chandler auto insurance online.
- Homeowners Savings – Just owning your own home can get you a discount due to the fact that maintaining a home shows financial diligence.
- Distant College Student Discount – Older children who attend college more than 100 miles from Chandler without a vehicle on campus may qualify for this discount.
- Drive Safe and Save – Drivers who don’t get into accidents can save as much as half off their rates than drivers with accidents.
- New Car Discount – Buying auto insurance coverage on a new vehicle is cheaper since newer models have better safety ratings.
- Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to buckle their seat belts can save up to 15% off the medical payments premium.
- Senior Citizen Discount – If you’re over the age of 55, you could receive a small decrease in premiums.
- Air Bag Discount – Vehicles equipped with air bags could see savings of 20% or more.
- Defensive Driver Discount – Taking time to complete a safe driver course could possibly earn you a 5% discount depending on where you live.
As a disclaimer on discounts, some of the credits will not apply to the entire cost. Most only cut the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think you would end up receiving a 100% discount, it doesn’t quite work that way.
The example below illustrates the difference between BMW M3 insurance prices with and without discounts applied. The premium estimates are based on a female driver, no violations or claims, Arizona state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, safe-driver, homeowner, and multi-policy discounts applied.
A list of auto insurance companies and their offered discounts include:
- State Farm offers premium reductions for passive restraint, Steer Clear safe driver discount, driver’s education, good student, safe vehicle, defensive driving training, and multiple autos.
- Progressive has savings for online quote discount, continuous coverage, homeowner, online signing, and multi-vehicle.
- Travelers offers discounts including new car, multi-policy, driver training, early quote, IntelliDrive, and save driver.
- American Family discounts include good student, defensive driver, bundled insurance, early bird, Steer into Savings, air bags, and mySafetyValet.
- Liberty Mutual offers discounts for newly retired, multi-policy, new move discount, preferred payment discount, and hybrid vehicle.
Double check with all the companies the best way to save money. Some of the discounts discussed earlier might not be available to policyholders in Chandler. If you would like to see a list of insurance companies who offer discounts in Arizona, click here.
Situations that may require an agent’s advice
Keep in mind that when it comes to choosing coverage online or from an agent, there isn’t really a one size fits all plan. Everyone’s needs are different.
These are some specific questions can aid in determining if your insurance needs would benefit from professional advice.
- Do I have ACV or replacement cost coverage?
- Who sells insurance for high-risk drivers?
- Will damage be repaired with OEM parts?
- Are rock chip repairs covered?
- Is pleasure use cheaper than using my BMW M3 to commute?
- Why am I required to get a high-risk car insurance policy?
- Do I need added coverage for expensive stereo equipment?
- Can I afford to buy a different vehicle if my BMW M3 is totaled?
- What happens if I owe more than my BMW M3 is worth?
If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form. It is quick, free and can provide invaluable advice.
Insurance agent or online?
A small number of people still prefer to sit down and talk to an agent and doing that can be a smart decision Experienced insurance agents are highly skilled in risk management and help in the event of a claim. A good thing about getting free rate quotes online is the fact that drivers can get the best rates and still buy from a local agent.
Once you complete this simple form, your insurance data is immediately sent to participating agents in Chandler who will give competitive quotes and help you find cheaper coverage. You don’t have to find an agent since price quotes are sent immediately to your email address. If for some reason you want to get a comparison quote for a specific company, just visit that company’s website to submit a rate quote request.
Picking the best insurer shouldn’t rely on just the bottom line cost. Here are some questions you might want to ask.
- Which members of your family are coverage by the policy?
- Does the company allow you to choose your own collision repair facility?
- Has the agent ever had any license suspensions?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Will your rates increase after a single accident?
What type of Chandler car insurance agent is right for you?
If you want to buy car insurance from a reliable insurance agency, it helps to know the two different types of agents that you can choose from. Agencies in Chandler are either independent or exclusive depending on the company they work for. Either type can sell and service car insurance coverage, but it’s worth mentioning the difference in the companies they write for since it can affect which type of agent you select.
Exclusive Car Insurance Agents
Exclusive agencies can only provide one company’s prices and some examples include Farmers Insurance, State Farm, or Allstate. They generally cannot give you multiple price quotes so they really need to provide good service. Exclusive agents are trained well on sales techniques and that can be a competitive advantage. A lot of people buy from exclusive agents mostly because of the brand legacy instead of buying on price only.
Below is a list of exclusive insurance agents in Chandler willing to provide rate quotes.
- Allstate Insurance: Robert Gallego
3175 S Price Rd Ste 142 – Chandler, AZ 85248 – (480) 820-0808 – View Map - Stacy Beatty – State Farm Insurance Agent
3165 S Alma School Rd Ste 27 – Chandler, AZ 85248 – (480) 855-0665 – View Map - Farmers Insurance – Joe Baselice
5355 W Chandler Blvd #8 – Chandler, AZ 85226 – (480) 940-0909 – View Map
Independent Car Insurance Agents
Agents in the independent channel do not work for one specific company so they have the ability to put coverage with many different companies and get you the best rates possible. If they find a lower price, they simply switch companies in-house and the insured can keep the same agent.
If you are comparing car insurance prices, it’s recommended you get some free quotes from multiple independent agents in order to compare the most rates. Most can insure with companies you’ve never heard of which may have better rates.
Shown below is a list of independent agencies in Chandler that are able to give price quotes.
- Arizona Insurance Guys
3414 W Oakland St – Chandler, AZ 85226 – (480) 331-6408 – View Map - Nationwide – Daniel McLean Kendree AGENCY
1005 S Arizona Ave – Chandler, AZ 85286 – (480) 857-0056 – View Map - Southwind Ins Agency, Inc.
2169 E Warner Rd Suite 103 – Tempe, AZ 85284 – (480) 543-1797 – View Map
Compare but don’t skimp
We just showed you some good ideas how to shop for BMW M3 insurance online. 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. You may even find the best premium rates are with a small local company.
Lower-priced BMW M3 insurance in Chandler is available from both online companies in addition to local insurance agencies, and you need to price shop both to have the best rate selection. Some companies may not offer internet price quotes and many times these regional carriers provide coverage only through local independent agents.
While you’re price shopping online, do not sacrifice coverage to reduce premiums. Too many times, an insured cut liability coverage limits and discovered at claim time that it was a big error on their part. Your strategy should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.
Steps to buying low-cost BMW M3 insurance in Chandler
If your goal is the lowest price, then the best way to find affordable quotes for auto insurance rates in Chandler is to start comparing prices regularly from providers that sell auto insurance in Arizona. Prices can be compared by following these steps.
- First, get a basic knowledge of how insurance companies determine prices and the things you can change to prevent expensive coverage. Many rating factors that are responsible for high rates such as at-fault accidents, speeding tickets, and an imperfect credit score can be remedied by making minor driving habit or lifestyle changes.
- Second, compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO or Farmers Insurance, while independent agents can provide prices for a wide range of insurance providers.
- Third, compare the new rate quotes to your current policy premium and see if there is a cheaper rate. If you find a lower rate quote and decide to switch, make sure there is no coverage gap between policies.
- Fourth, notify your agent or company of your intent to cancel your existing policy. Submit payment and a completed application for your new policy. Immediately upon receiving it, put the certificate verifying proof of insurance with the vehicle registration.
An essential thing to point out is to make sure you enter similar coverage information on every quote and and to get price estimates from as many companies as possible. Doing this provides a fair rate comparison and a complete selection of prices.
To read more, feel free to browse the resources below:
- Your Car has been Stolen: Now What? (Allstate)
- Who Has Cheap Car Insurance Rates for Drivers with Accidents in Chandler? (FAQ)
- Who Has the Cheapest Chandler Car Insurance Quotes for Electric Cars? (FAQ)
- Who Has Cheap Chandler Auto Insurance for Seniors? (FAQ)
- What Auto Insurance is Cheapest for Drivers Under 21 in Chandler? (FAQ)
- What Car Insurance is Cheapest for Good Students in Chandler? (FAQ)
- Teen Driving Statistics (GEICO)
- Safety Features for Your New Car (State Farm)
- Shopping for a Safe Car (Insurance Information Institute)
- Where can I buy Insurance? (Insurance Information Institute)