Do you need a fast way to compare low-cost BMW M3 insurance in Dallas? Paying for expensive BMW M3 insurance in Dallas can draw down your savings and force you to tighten up your finances. Shopping your coverage around is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.
It’s a known fact that car insurance companies want to keep you from shopping around. Drivers who shop around for the cheapest rate will probably move their business because of the good chance of finding a policy with more affordable rates. A survey found that people who regularly shopped around saved approximately $72 a month as compared to drivers who never compared prices.
If finding the best rates on BMW M3 insurance is the reason you’re reading this, then learning about the best ways to find and compare car insurance can help you succeed in finding affordable rates.
Steps to saving money on BMW M3 insurance in Dallas
If your goal is the lowest price, then the best way to find discount BMW M3 insurance in Dallas is to compare prices annually from companies in Texas. You can compare prices by following these steps.
- Try to comprehend how car insurance works and the things you can control to drop your rates. Many factors that are responsible for high rates like tickets, at-fault accidents, and a substandard credit score can be rectified by making minor changes in your lifestyle.
- Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can quote prices from multiple sources. Begin your rate comparison
- Compare the new quotes to the price on your current policy to determine if switching companies saves money. If you can save some money and decide to switch, make sure there is no lapse in coverage.
- Notify your current company to cancel your current auto insurance policy and submit a completed policy application and payment to your new insurance company. Once the application is submitted, place your new proof of insurance paperwork above your visor, in the console, or in the glove compartment.
An important part of this process is to use identical coverages on every price quote and and to compare every insurance company. Doing this ensures a fair rate comparison and a complete price analysis.
Numerous insurers battle for your insurance dollar, and it can be difficult to compare rates to get the lowest price on BMW M3 insurance in Dallas.
Smart consumers take time to price shop coverage occasionally because prices go up and down regularly. Just because you found the best quotes on BMW M3 insurance in Dallas last year you may be paying too much now. Ignore everything you know about insurance because you’re about to learn the easiest way to save money, get proper deductibles and limits, all at the lowest rate.
Companies offering BMW M3 insurance in Dallas
The car insurance companies shown below can provide quotes in Dallas, TX. If multiple companies are shown, we recommend you visit as many as you can to find the cheapest car insurance rates.
BMW M3 insurance charts and tables
The rate information below highlights a range of insurance coverage prices for BMW M3 models. Being aware of how insurance premiums are determined can be of help when making smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $414 | $836 | $392 | $24 | $118 | $1,784 | $149 |
| M3 CI 2-Dr Coupe | $452 | $934 | $392 | $24 | $118 | $1,920 | $160 |
| M3 2-Dr Convertible | $452 | $934 | $392 | $24 | $118 | $1,920 | $160 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in your specific Dallas location which can change insurance rates significantly.
Comparison of policy deductibles
One of the hardest decisions when shopping for insurance is which deductibles should you choose. The premium rates below can help show the costs and benefits between low and high physical damage deductibles. The first price estimate table uses a $250 deductible for comprehensive and collision coverage and the second pricing table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $408 | $762 | $382 | $22 | $114 | $1,713 | $143 |
| M3 CI 2-Dr Coupe | $446 | $850 | $382 | $22 | $114 | $1,839 | $153 |
| M3 2-Dr Convertible | $446 | $850 | $382 | $22 | $114 | $1,839 | $153 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| M3 CI 2-Dr Coupe | $362 | $686 | $382 | $22 | $114 | $1,566 | $131 |
| M3 2-Dr Convertible | $362 | $686 | $382 | $22 | $114 | $1,566 | $131 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in specific zip code location which can increase or decrease insurance rates substantially.
Using the data above, we can ascertain that using a $250 deductible costs roughly $22 more each month or $264 annually than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you go more than 11 months between claims, you would save more money by selecting a higher deductible.
How to calculate when to raise deductibles
| Average monthly premium for $250 deductibles: | $150 |
| Average monthly premium for $500 deductibles (subtract): | – $128 |
| Monthly savings from raising deductible: | $22 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $22 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 11 months |
BMW M3 insurance rates by gender
The chart below illustrates the difference between BMW M3 auto insurance rates for male and female drivers. The premium estimates are based on no violations or accidents, full coverage, $100 deductibles, drivers are not married, and no discounts are applied.
Full coverage versus liability only rates
The diagram below shows the difference between BMW M3 insurance costs with full physical damage coverage compared to only buying liability only. The prices are based on no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are applied.
When to eliminate full coverage
There isn’t a steadfast formula of when to eliminate physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s assume your BMW M3 book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after the policy deductible has been paid. If you are paying over $200 a year for full coverage, then it could be time to drop full coverage.
There are some scenarios where only buying liability is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage.
Discount Dallas auto insurance rates
Some insurers don’t list every available discount very clearly, so the list below details both well-publicized and the harder-to-find credits available to lower your premiums when you buy Dallas auto insurance online.
- ABS Brakes – Cars, trucks, and SUVs that have anti-lock braking systems are much safer to drive and the ABS can save up to 10%.
- Pay Upfront and Save – By making one initial payment rather than paying in monthly installments you may have a lower total premium amount.
- Passive Restraints and Air Bags – Vehicles equipped with air bags can qualify for discounts of 20% or more.
- Low Miles Discount – Driving fewer miles can earn substantially lower prices.
- Dallas Homeowners Pay Less – Simply owning a home can save you money due to the fact that maintaining a home is proof of financial responsibility.
- Accident Forgiveness Coverage – This one isn’t a discount, but companies like Progressive and Allstate allow you one accident without the usual rate increase if your claims history is clear for a set time period.
- Drive Safe and Save – Safe drivers may receive a discount up to 45% than drivers with accidents.
- 55 and Retired – Drivers that qualify as senior citizens are able to get lower premium rates.
- Driver Training Discounts – Taking time to complete a course in defensive driver may get you a small discount depending on where you live.
- New Car Discount – Putting coverage on a new M3 can save up to 30% because new model year vehicles keep occupants safer.
While discounts sound great, it’s important to understand that most of the big mark downs will not be given the whole policy. Some only reduce individual premiums 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.
The information below visualizes the comparison of BMW M3 annual premium costs with and without discounts applied to the policy rates. The data is based on a female driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, multi-car, homeowner, marriage, and safe-driver discounts applied.
Large auto insurance companies and some of the premium reductions they offer are outlined below.
- GEICO discounts include anti-theft, daytime running lights, five-year accident-free, good student, and membership and employees.
- Travelers offers discounts for save driver, multi-policy, good student, driver training, IntelliDrive, early quote, and payment discounts.
- Nationwide may have discounts that include anti-theft, defensive driving, business or organization, accident-free, Farm Bureau membership, good student, and family plan.
- Farmers Insurance may offer discounts for alternative fuel, distant student, youthful driver, homeowner, and early shopping.
- Esurance offers discounts including Pac-12 alumni, multi-car, DriveSense, anti-theft, homeowner, Switch & Save, and online shopper.
- State Farm has discounts for passive restraint, multiple autos, Steer Clear safe driver discount, student away at school, Drive Safe & Save, safe vehicle, and defensive driving training.
- Progressive may include discounts for continuous coverage, online signing, multi-vehicle, homeowner, multi-policy, and good student.
- Mercury Insurance offers premium reductions for good student, multi-policy, ease of repair, age of vehicle, multi-car, and good driver.
If you need affordable Dallas auto insurance quotes, ask all the companies which discounts you may be entitled to. Discounts might not be offered on policies in every state. To see providers offering auto insurance discounts in Texas, follow this link.
Why Smart Buyers Pay Less for BMW M3 Insurance
Many factors are used in the calculation when you quote your car insurance policy. A few of the factors are predictable such as your driving history, but others are not as apparent like where you live or your commute time. A large part of saving on auto insurance is knowing the different types of things that help calculate the price you pay for auto insurance. When consumers understand what controls the rates you pay, this enables informed choices that may reward you with cheaper rates.
Prevent theft and save – Choosing a vehicle that has a built-in theft deterrent system can earn a premium discount. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent car theft.
Do you need those incidental coverages? – There are quite a few optional add-on coverages that you can get tricked into buying if you don’t pay attention. Insurance for things like roadside assistance, death and dismemberment, and term life insurance are probably not needed. They may sound like good ideas when buying your policy, but your money might be better spent on other coverage so consider taking them off your policy.
How many coverages with the same company – Most insurance companies will give lower prices for people who buy several policies from them in the form of a multi-policy discount. Even with this discount applied, it’s always a smart idea to compare other Dallas M3 insurance rates to verify if the discount is saving money.
Drive a safer car and pay less – Vehicles with good safety scores get lower rates. Safer cars have better occupant injury protection and any reduction in injury severity translates directly to fewer claims and cheaper rates on your policy.
Insurance loss statistics a BMW M3 – Auto insurance companies use data from past claims when they file their rates in each state. Vehicles that tend to have higher losses will cost more to insure.
The next table shows the insurance loss data for BMW M3 vehicles. For each policy coverage type, the loss probability for all vehicles averaged together is considered to be 100. Values that are under 100 indicate a favorable loss history, while percentage numbers above 100 indicate more frequent losses or a tendency for losses to be larger than average.
| 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
Statistics from IIHS.org for 2013-2015 Model Years
Are insurance agencies of importance?
A lot of people just want to buy from a local agent and doing so can bring peace of mind Good agents can make sure you are properly covered and help submit paperwork. One of the great benefits of getting online price quotes is that drivers can save money and get cheap rate quotes but also keep your business local.
To help locate an agent, after submitting this short form, your insurance coverage information is emailed to insurance agents in Dallas who will return price quotes for your coverage. You won’t even need to find an agent on your own since price quotes are sent instantly to you. If you need to compare prices from a specific insurance company, you would need to find their quoting web page and fill out the quote form the provide.
Choosing the best insurer needs to be determined by more than just the premium amount. These are some questions you should get answers to.
- Which companies can they place coverage with?
- Does the company have a solid financial rating?
- How would your car be valued if totaled?
- Will they give you a referral list?
- Are claims handled at the agent’s location?
- Will the agent or a CSR service your policy?
- Do they make recommendations based only on price?
- Are they in the agency full-time?
Listed below is a list of insurers in Dallas that are able to give rate quotes for BMW M3 insurance in Dallas.
Rodriguez Insurance Agency LLC
13111 N Central Expy Suite 8001 – Dallas, TX 75243 – (888) 797-1924 – View Map
Linda Horton State Farm Insurance Agency
8150 N Central Expy #735 – Dallas, TX 75206 – (214) 363-4563 – View Map
State Farm: Dwight Hill
10300 N Central Expy #296 – Dallas, TX 75231 – (469) 232-2396 – View Map
Sheaner Insurance, LLP
2501 Abrams Rd – Dallas, TX 75214 – (214) 823-3003 – View Map
Compare. Compare. Compare.
Lower-priced BMW M3 insurance in Dallas is available both online in addition to local insurance agencies, and you should be comparing both to get a complete price analysis. Some companies may not offer online rate quotes and usually these regional carriers provide coverage only through independent agencies.
While you’re price shopping online, it’s very important that you do not reduce coverage to reduce premium. In many cases, someone sacrificed full coverage to discover at claim time that they should have had better coverage. The aim is to purchase a proper amount of coverage at the best possible price, but don’t skip important coverages to save money.
Steps to finding better rates for BMW M3 insurance in Dallas
If saving money is your primary concern, then the best way to get the cheapest BMW M3 insurance is to compare prices at least once a year from companies in Dallas.
- First, try to learn about how auto insurance works and the modifications you can make to prevent rate increases. Many rating criteria that cause high rates such as accidents, careless driving, and a not-so-good credit rating can be improved by improving your driving habits or financial responsibility.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from one company like Progressive and State Farm, while agents who are independent can quote rates for a wide range of insurance providers.
- Third, compare the price quotes to the price on your current policy to see if you can save by switching companies. If you find a better price, make sure there is no lapse in coverage.
- Fourth, notify your agent or company of your intent to cancel your current policy and submit a down payment and signed policy application to the new company. Once the paperwork is finalized, put the new certificate verifying proof of insurance in your glove compartment.
An important bit of advice to remember is to try to compare the same level of coverage on each quote and and to get prices from as many companies as possible. Doing this ensures a fair rate comparison and a complete rate analysis.
Other learning opportunities
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- How Much are Auto Insurance Rates for a Nissan Rogue in Dallas? (FAQ)
- How Much are Dallas Auto Insurance Rates for a Toyota Highlander? (FAQ)
- Who Has Cheap Dallas Auto Insurance Rates for Good Students? (FAQ)
- How Much is Car Insurance for Uninsured Drivers in Dallas? (FAQ)
- Who Has Affordable Auto Insurance Rates for Used Cars in Dallas? (FAQ)
- How Much are Auto Insurance Quotes for Drivers Requiring a SR22 in Dallas? (FAQ)
- Teen Driving Statistics (iihs.org)
- Teen Driving and Texting (State Farm)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- How to shop for a safer car (Insurance Institute for Highway Safety)