Save Money on BMW M3 Insurance in Anchorage

How many times have you put off comparing quotes for low-cost BMW M3 insurance in Anchorage? Finding affordable Anchorage BMW M3 insurance quotes on the web can be intimidating for beginners to comparing prices online. Because there are so many companies competing online, how can Anchorage drivers possibly compare every insurance company to find the lowest rates?

Insurance quote for BMW M3 in AnchorageUnbelievable but true, the vast majority of consumers kept their coverage with the same insurance company for at least the last four years, and just short of a majority have never compared rates from other carriers. Many consumers in Anchorage could save themselves 35% a year just by shopping around, but they think it’s difficult to compare rates.

Consumers need to get comparison quotes periodically because insurance prices change frequently. Even if you think you had the lowest price on BMW M3 insurance in Anchorage at your last renewal you can probably find a lower rate today. You can find a lot of misleading information regarding M3 insurance online, but in this article, you’re going to get a bunch of ideas how to put money back in your pocket.

If you currently have auto insurance, you will definitely be able to find better prices using these techniques. The purpose of this article is to tell you how car insurance quotes work and some tips to save money. Although Alaska consumers do need to learn how insurance companies calculate your auto insurance rates.

The are a couple different ways of comparing price quotes from car insurance companies in your area. One of the best ways to compare BMW M3 insurance prices is to get quotes online. Just keep in mind that getting more free quotes increases the chance that you will find the best price.

The auto insurance companies shown below are our best choices to provide free rate quotes in Alaska. To locate cheap car insurance in Anchorage, it’s a good idea that you visit several of them to get a more complete price comparison.

Insurance statistics and figures

The rate information displayed below showcases estimates of insurance premium costs for BMW M3 models. Being able to understand how auto insurance policy rates are established can be valuable when making informed purchases.

BMW M3 Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $154 $336 $286 $16 $86 $878 $73
M3 CI 2-Dr Coupe $170 $374 $286 $16 $86 $932 $78
M3 2-Dr Convertible $170 $374 $286 $16 $86 $932 $78
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Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Premium amounts do not factor in zip code location which can impact premium rates significantly.

Physical damage deductibles

When buying insurance, a common question is what deductibles to buy. The following insurance rates may help you to understand the rate differences when you buy lower versus higher insurance deductibles. The first table uses a $100 physical damage deductible and the second set of rates uses a $1,000 deductible.

BMW M3 insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $324 $648 $272 $16 $82 $1,367 $114
M3 CI 2-Dr Coupe $354 $724 $272 $16 $82 $1,473 $123
M3 2-Dr Convertible $354 $724 $272 $16 $82 $1,473 $123
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BMW M3 insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $180 $342 $272 $16 $82 $892 $74
M3 CI 2-Dr Coupe $196 $382 $272 $16 $82 $948 $79
M3 2-Dr Convertible $196 $382 $272 $16 $82 $948 $79
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can decrease or increase premium rates greatly.

Based on the data above, we can derive that using a $100 deductible costs an average of $43 more each month or $516 for a full year across all BMW M3 models than buying the higher $1,000 deductible. Because you would pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to average at least 21 months between claim filings, you would probably be better off if you choose the higher deductible. The numbers below show a better example of how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $120
Average monthly premium for $1,000 deductibles (subtract): – $77
Monthly savings from raising deductible: $43
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $43
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

An important thing to remember is that a higher deductible level results in more money out-of-pocket when you do file a claim. That will necessitate enough disposable income in the event you need to pay the deductible for vehicle repair.

The example below illustrates how your deductible choice and can raise or lower BMW M3 premium costs for different age groups. The premium estimates are based on a married male driver, full coverage, and no discounts are applied to the premium.

Three reasons to not skimp on insurance

Despite the high insurance cost for a BMW M3 in Anchorage, insurance serves a purpose in several ways.

First, the majority of states have compulsory liability insurance requirements which means state laws require a specific level of liability insurance coverage in order to license the vehicle. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if your M3 has a lienholder, most banks will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you let the policy lapse, the lender may insure your BMW at an extremely high rate and force you to pay a much higher amount than you were paying before.

Third, insurance protects not only your car but also your financial assets. It will also pay for hospital and medical expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, will also pay to defend you in the event you are sued. If you have damage to your BMW as the result of the weather or an accident, your policy will cover the repair costs.

The benefits of having insurance are definitely more than the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying more than $869 every year so you should quote and compare rates at least once a year to make sure the price is not too high.

How You Can Control BMW M3 Insurance Premiums

Lots of things are used when quoting car insurance. Some of the criteria are obvious like your driving record, although some other factors are not quite as obvious like where you live and annual miles driven. Part of the insurance buying process is learning some of the things that aid in calculating the level of your policy premiums. When you understand what positively or negatively impacts your premiums, this enables informed choices that may result in much lower annual insurance costs.

Will just any policy work for me?

When buying the right insurance coverage for your vehicles, there is no one-size-fits-all type of policy. Everyone’s situation is a little different and your auto insurance should unique, too.Higher deductibles save money
For instance, these questions can aid in determining whether you might need professional guidance.

If you’re not sure about those questions but one or more may apply to you, you may need to chat with a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier

Alaska auto insurance companies ranked

Ending up with the top auto insurance provider can be challenging considering how many companies sell insurance in Anchorage. The company ratings shown next can help you decide which auto insurance companies you want to consider buying from.

Top 10 Anchorage Car Insurance Companies by A.M. Best Rank

  1. USAA – A++
  2. State Farm – A++
  3. GEICO – A++
  4. Esurance – A+
  5. Allstate – A+
  6. Progressive – A+
  7. The Hartford – A+
  8. The General – A-
  9. AAA Insurance – A
  10. Liberty Mutual – A

Top 10 Anchorage Car Insurance Companies Overall

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. The General
  8. Progressive
  9. Allstate
  10. Liberty Mutual

Smart shoppers get results

When you buy Anchorage car insurance online, you should never buy less coverage just to save a little money. In too many instances, an insured cut liability coverage limits and found out when filing a claim that it was a big mistake. Your goal is to purchase plenty of coverage at a price you can afford, but don’t skip important coverages to save money.

Cost effective BMW M3 insurance can be bought both online in addition to local insurance agencies, and you should be comparing both to have the best selection. Some insurance companies may not offer price quotes online and usually these small insurance companies prefer to sell through independent agents.

In this article, we covered some good ideas how to shop for BMW M3 insurance online. The key thing to remember is the more quotes you get, the higher the chance of saving money. You may even be surprised to find that the best premium rates are with a smaller regional carrier. These companies may only write in your state and offer lower prices compared to the large companies like GEICO and State Farm.

Steps to finding more affordable BMW M3 insurance in Anchorage

If you want to save the most money, the best way to find low-cost prices for BMW M3 insurance is to regularly compare price quotes from insurers that insure vehicles in Anchorage.

One bit of advice is to try to use the same liability limits and deductibles on every quote request and and to look at every insurance company. This guarantees a level playing field and maximum price selection.

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