Are you at wits end from being strong-armed to buy auto insurance? You are no different than many other Ohio consumers.
Astonishing but true, nearly 70% of consumers have bought auto insurance from the same company for at least the last four years, and nearly 40% of drivers have never compared rates with other companies. American drivers could save nearly $860 each year by just comparing quotes, but they underestimate the actual amount they would save if they replace their high priced policy.
You have so many auto insurance companies to insure vehicles with, and even though it's nice to have a selection, more choices can make it harder to adequately compare rates for BMW M3 insurance in Columbus.
Consumers should take time to do rate comparisons quite often because auto insurance prices are adjusted regularly by insurance companies. Despite the fact that you may have had the best deal on BMW M3 insurance in Columbus six months ago there is a good chance you can find better premium rates now. Ignore everything you know about auto insurance because it's time to teach you the only way to lower your annual insurance bill.
Best companies for low-cost BMW M3 insurance in Ohio
The providers in the list below are our best choices to provide comparison quotes in Columbus, OH. If multiple companies are shown, we suggest you visit as many as you can in order to get a fair rate comparison.
The data table displayed next highlights estimates of rate quotes for BMW M3 models. Learning how rates are figured can help you make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|M3 4-Dr Sedan||$232||$558||$256||$16||$76||$1,138||$95|
|M3 CI 2-Dr Coupe||$254||$622||$256||$16||$76||$1,224||$102|
|M3 2-Dr Convertible||$254||$622||$256||$16||$76||$1,224||$102|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Price estimates do not factor in specific zip code location which can increase or decrease coverage prices considerably.
The diagram below demonstrates how choosing different deductibles and can influence BMW M3 annual premium costs for different age groups of insureds. The premium estimates are based on a single male driver, full coverage, and no discounts are factored in.
Comparison of car insurance rates by gender
The example below shows the difference between BMW M3 insurance prices for male and female drivers. The rates are based on no claims or violations, full coverage, $500 deductibles, single marital status, and no policy discounts are applied.
Cheap Columbus car insurance rates with discounts
Some insurers don't necessarily list every discount in an easy-to-find place, so the following is a list of some of the more common as well as the least known discounts you could be receiving when you buy Columbus car insurance online.
- Federal Employees - Having worked for a branch of the government could qualify for a slight premium decrease with certain companies.
- Policy Bundle Discount - If you insure your home and vehicles and insure them both with the same insurance company you will save at least 10 to 15 percent or more.
- 55 and Retired - Drivers over the age of 55 are able to get a small decrease in premiums.
- Fewer Miles Equal More Savings - Fewer annual miles on your BMW may allow you to get substantially lower car insurance rates.
- Discount for New Cars - Buying a new car model is cheaper since newer models are generally safer.
- Waiver for an Accident - This one is not really a discount per se, but some companies like Liberty Mutual, GEICO and Allstate may permit one accident before raising your premiums with the catch being you have to be claim-free prior to the accident.
- Payment Discounts - By paying your policy upfront rather than paying in monthly installments you could save 5% or more.
- Use Seat Belts - Drivers who require all vehicle occupants to buckle up before driving may be able to save a few bucks off PIP or medical payments premium.
- Life Insurance - Larger car insurance companies have a lower price if you buy auto and life insurance together.
A little note about advertised discounts, many deductions do not apply to the entire cost. Some only apply to specific coverage prices like physical damage coverage or medical payments. Despite the appearance that all the discounts add up to a free policy, companies wouldn't make money that way.
The diagram below shows the comparison of BMW M3 insurance costs with and without discounts applied to the policy rates. The prices are based on a female driver, no claims or driving citations, Ohio 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 safe-driver, multi-car, claim-free, marriage, multi-policy, and homeowner discounts applied.
A list of companies and their offered discounts are included below.
- GEICO discounts include air bags, multi-vehicle, membership and employees, military active duty, good student, defensive driver, and multi-policy.
- Travelers includes discounts for continuous insurance, save driver, hybrid/electric vehicle, new car, driver training, and student away at school.
- Nationwide has savings for good student, accident-free, family plan, easy pay, multi-policy, and anti-theft.
- Farmers Insurance may offer discounts for switch companies, alternative fuel, homeowner, youthful driver, and electronic funds transfer.
- Esurance may include discounts for renters, multi-policy, online quote, paid-in-full, emergency road assistance, and online shopper.
- State Farm offers premium reductions for safe vehicle, passive restraint, driver's education, anti-theft, good student, multiple policy, and good driver.
- Progressive policyholders can earn discounts including continuous coverage, online signing, homeowner, multi-policy, multi-vehicle, and online quote discount.
- Mercury Insurance has discounts for annual mileage, anti-theft, ease of repair, accident-free, and multi-policy.
It's a good idea to ask all companies you are considering which discounts you may be entitled to. Some of the discounts discussed earlier might not be offered on policies in every state. To find companies that offer the discounts shown above in Ohio, follow this link.
How to know if you need help
Keep in mind that when it comes to choosing the best car insurance coverage for your vehicles, there really is no cookie cutter policy. Your needs are unique to you.
For example, these questions may help you determine if your insurance needs would benefit from professional advice.
- Do I need rental car coverage?
- Do I have coverage when making deliveries for my home business?
- Is my state a no-fault state?
- Do I need higher collision deductibles?
- Am I covered if I back into my garage door?
- Will my BMW M3 be repaired with OEM or aftermarket parts?
- How much can I save by bundling my policies?
- Is my BMW M3 covered if I use it for business?
- What if I don't agree with a claim settlement offer?
- How can I force my company to pay a claim?
If it's difficult to answer those questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form.
Do I need a local insurance agent?
A small number of people still prefer to sit down with an agent and that is OK! The biggest benefit of getting free rate quotes online is that drivers can save money and get the best rates and still buy from a local agent. Buying from local insurance agencies is still important in Columbus.
By using this form (opens in new window), your information is transmitted to agents in your area that can provide free Columbus car insurance quotes for your coverage. There is no need to search for any insurance agencies because quoted prices will be sent directly to you. You can find lower rates AND an agent nearby. If you wish to compare rates from a specific insurance company, don't hesitate to search and find their rate quote page and submit a quote form there.
If you are searching for a local agent, you must know there are a couple different types of agents and how they are distinctly different. Insurance policy providers may be either exclusive agents or independent agents.
Independent Insurance Agencies
These agents are not required to write business for one company and that allows them to write policies through many different insurance companies and get you the best rates possible. If they find a cheaper price, your agent can switch companies and you don't have to find a new agent.
When comparison shopping, you will want to get some free quotes from at a minimum one independent agency to maximize your price options.
The following is a list of independent agents in Columbus that may be able to give you cheap rate quotes.
Exclusive Insurance Agents
Exclusive agents can only write with one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. They usually cannot compare rates from other companies so keep that in mind. They receive a lot of sales training on their products and sales techniques and that enables them to sell even at higher rates.
Listed below are Columbus exclusive agencies willing to provide comparison quotes.
Finding the right insurance agency should depend on more than just the quoted price. These are some valid questions you should ask.
- Can you choose the body shop in case repairs are needed?
- Does the agent help file claims?
- Does the quote include credit and driving reports?
- Which members of your family are coverage by the policy?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Do they have a Better Business Bureau rating in Columbus?
Auto insurance specifics
Knowing the specifics of a auto insurance policy can help you determine which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Liability car insurance
This will cover damage or injury you incur to other people or property. This insurance protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/25 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Another option is a combined single limit or CSL which provides one coverage limit with no separate limits for injury or property damage.
Liability can pay for claims like funeral expenses, pain and suffering, bail bonds, emergency aid and structural damage. How much liability coverage do you need? That is up to you, but consider buying as high a limit as you can afford. Ohio requires minimum liability limits of 25/50/25 but drivers should carry more liability than the minimum.
The next chart demonstrates why the minimum limit may not be enough.
Your UM/UIM coverage gives you protection when other motorists are uninsured or don't have enough coverage. Covered losses include medical payments for you and your occupants and also any damage incurred to your BMW M3.
Since many Ohio drivers carry very low liability coverage limits (Ohio limits are 25/50/25), it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Medical costs insurance
Medical payments and Personal Injury Protection insurance pay for expenses for funeral costs, pain medications, hospital visits, EMT expenses and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible
Comprehensive or Other Than Collision
This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as falling objects, a broken windshield, fire damage, hitting a bird and damage from getting keyed. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle's value consider removing comprehensive coverage.
Coverage for collisions
Collision coverage pays for damage to your M3 from colliding with another car or object. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims like sustaining damage from a pot hole, driving through your garage door, backing into a parked car, crashing into a ditch and damaging your car on a curb. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It's also possible to increase the deductible on your M3 to get cheaper collision coverage.
You can find affordable coverage
Some companies don't offer the ability to get a quote online and most of the time these smaller companies work with local independent agents. Budget-conscious BMW M3 insurance is attainable online in addition to many Columbus insurance agents, so you should compare both to have the best selection.
As you quote Columbus car insurance, you should never sacrifice coverage to reduce premiums. Too many times, someone dropped liability coverage limits only to find out they didn't have enough coverage. The goal is to buy the best coverage you can find at the best price but still have enough coverage for asset protection.
We just covered many ways to reduce BMW M3 insurance prices online in Columbus. The key concept to understand is the more companies you get rates for, the better chance you'll have of finding affordable Columbus car insurance quotes. You may even be surprised to find that the lowest priced auto insurance comes from an unexpected company.
How to save money on BMW M3 insurance in Columbus
Truthfully, the best way to find cheaper quotes for car insurance rates in Columbus is to begin comparing prices regularly from providers in Ohio. Rates can be compared by following these steps.
- First, read and learn about individual coverages and the modifications you can make to keep rates down. Many rating factors that cause rate increases like careless driving and an imperfect credit score can be amended by being financially responsible and driving safely.
- Second, quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agents can give you price quotes from many different companies.
- Third, compare the new rate quotes to your existing coverage to see if a cheaper rate is available. If you find better rates and buy the policy, make sure coverage is continuous and does not lapse.
- Fourth, give notification to your agent or company to cancel your current auto insurance policy. Submit the required down payment along with the signed application to the new company. Once the application is submitted, place the new proof of insurance certificate with the vehicle registration.
A tip to remember is to try to compare similar limits and deductibles on every quote and and to get rate quotes from all possible companies. Doing this helps ensure an accurate price comparison and a complete selection of prices.
Even more information can be read in these articles:
- What is Full Coverage? (Allstate)
- Who Has Affordable Auto Insurance for Teenagers in Columbus? (FAQ)
- How Much is Auto Insurance for High Risk Drivers in Columbus? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Drivers Over Age 70 in Columbus? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- What is a Telematics Device? (Allstate)
- Frontal Crash Tests (iihs.org)