Want to save money and find more competitive BMW M3 insurance in Jersey City? Did a good deal turn out to be an expensive auto insurance policy? Believe me when I say there are many people just like you.
We don’t have to point out that fact that car insurance companies want to keep you from comparing rates. Consumers who shop for lower prices will presumably switch auto insurance companies because there is a great chance of finding lower prices. A study discovered that consumers who routinely compared rates saved approximately $860 a year as compared to drivers who never compared prices.
If finding the best price on BMW M3 insurance is your objective, then knowing how to compare insurance coverage can make it simple to find affordable coverage. Companies like GEICO, Farmers Insurance and State Farm continually bombard you with catchy ads and consumers find it hard to ignore the promise of big savings and do the work needed to find the best deal.
Affordable Jersey City insurance quotes with discounts
The price of auto insurance can be rather high, but you might find some hidden discounts that you may not even be aware of. Some trigger automatically when you purchase, but a few need to be inquired about prior to receiving the credit. If you don’t get every credit possible, you could be saving more on your insurance.
- Discounts for New Vehicles – Buying a new car instead of a used M3 can get you a discount because new vehicles have to meet stringent safety requirements.
- Telematics Devices – Insureds who allow companies to spy on where and when they drive through the use of a telematics system like Allstate’s Drivewise might see lower rates if their driving habits are good.
- Sign Early and Save – A few insurance companies offer discounts for buying a new policy prior to the expiration date on your current M3 insurance policy. It could save around 10% when you buy Jersey City car insurance online.
- Passive Restraint Discount – Factory options such as air bags or automatic seat belts may get savings of up to 25% or more.
- Organization Discounts – Belonging to specific professional or occupational memberships or organizations may earn a discount on your policy.
- Good Students Pay Less – Being a good student can be rewarded with saving of up to 25%. The good student discount can last up to age 25.
- Bundle and Save – If you can bundle your home and auto insurance and insure them both with the same insurance company you could get a discount of up to 20% and get you the cheapest BMW M3 insurance in Jersey City.
- Defensive Driver – Taking a class that teaches safe driver techniques could possibly earn you a 5% discount if your company offers it.
You can save money using discounts, but most credits do not apply to your bottom line cost. Most only cut specific coverage prices like liability and collision coverage. So even though you would think adding up those discounts means a free policy, company stockholders wouldn’t be very happy.
The information below visualizes the comparison of BMW M3 auto insurance costs with and without discounts applied to the premium. The premiums assume a female driver, no accidents or driving violations, New Jersey state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, marriage, multi-policy, and safe-driver discounts applied.
Some companies that may offer quotes with these discounts include:
Double check with each company or agent which credits you are entitled to. Some of the discounts discussed earlier may not be available everywhere. If you would like to view insurance companies that offer discounts in New Jersey, click here.
How to get Jersey City BMW M3 insurance price quotes
Finding more affordable Jersey City car insurance rates can be relatively painless. The only requirement is to invest a little time comparing rate quotes from some recommended companies.
Comparing free quotes online is easy and it, takes the place of having to drive around to insurance agencies in your area. Comparing BMW M3 insurance rate quotes online makes this process obsolete unless you have a need for the extra assistance of a local agency. Although, it is possible compare online quotes and have a local agent actually service the policy.
The providers in the list below are ready to provide free quotes in Jersey City, NJ. If multiple companies are listed, we recommend you visit two to three different companies to find the lowest car insurance rates.
BMW M3 insurance charts and tables
The table shown below outlines different insurance premium costs for BMW M3 models. Understanding more about how insurance premiums are figured is important for you to make smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $468 | $884 | $496 | $30 | $148 | $2,026 | $169 |
| M3 CI 2-Dr Coupe | $512 | $986 | $496 | $30 | $148 | $2,172 | $181 |
| M3 2-Dr Convertible | $512 | $986 | $496 | $30 | $148 | $2,172 | $181 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Table data does not factor in your specific Jersey City location which can influence coverage rates significantly.
Should you raise deductibles?
One frequently asked question is how high should your deductibles be. The following tables may help to illustrate the price difference when you buy lower versus higher physical damage deductibles. The first pricing table uses a $100 deductible for comp and collision and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $574 | $1146 | $480 | $28 | $144 | $2,397 | $200 |
| M3 CI 2-Dr Coupe | $626 | $1280 | $480 | $28 | $144 | $2,583 | $215 |
| M3 2-Dr Convertible | $626 | $1280 | $480 | $28 | $144 | $2,583 | $215 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M3 4-Dr Sedan | $318 | $604 | $480 | $28 | $144 | $1,574 | $131 |
| M3 CI 2-Dr Coupe | $348 | $674 | $480 | $28 | $144 | $1,674 | $140 |
| M3 2-Dr Convertible | $348 | $674 | $480 | $28 | $144 | $1,674 | $140 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price estimates do not factor in specific Jersey City garaging location which can influence rates greatly.
Based on the figures above, using a $100 deductible will cost in the ballpark of $73 more each month or $876 each year than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at a minimum 12 months between claim filings, you would save money if you choose the higher deductible.
The chart below demonstrates how choosing different deductibles and can raise or lower BMW M3 insurance rates for each age group. The rates are based on a married female driver, full physical damage coverage, and no discounts are factored in.
Safe drivers pay less for auto insurance
The example below demonstrates how citations and at-fault collisions can increase BMW M3 insurance premiums for different ages of insureds. The rate quotes are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.
Difference between full coverage and liability only rates
The information below illustrates the difference between BMW M3 car insurance rates with full coverage and liability only. The prices are based on no claims, a clean driving record, $250 deductibles, single marital status, and no discounts are applied to the premium.
Are you wasting money on full coverage?
There is no set guideline of when to exclude comp and collision coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
For example, let’s assume your BMW M3 settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after paying your deductible. If you are paying over $500 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some situations where dropping physical damage coverage is not a good plan. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
When in doubt talk to an agent
When it comes to coverage, there is no “best” method to buy coverage. Your financial needs are unique.
For instance, these questions can aid in determining whether your personal situation would benefit from an agent’s advice.
- I have good health insurance, so how much medical payments coverage do I need?
- Do I have coverage when pulling a U-Haul trailer?
- How do I buy GAP insurance?
- Are my friends covered when driving my car?
- When can I cancel my policy?
- Should I buy full coverage?
- Can I rate high risk drivers on liability-only vehicles?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete this form. It’s fast, doesn’t cost anything and may give you better protection.
Local Jersey City insurance agencies
Certain consumers just prefer to have an agent’s advice and doing so can bring peace of mind Good agents can answer important questions and help file insurance claims. A nice benefit of comparing rate quotes online is that drivers can save money and get lower rates but also keep your business local. Buying from local insurance agencies is still important in Jersey City.
After completing this quick form, your insurance coverage information is emailed to local insurance agents that can give you free Jersey City car insurance quotes for your business. There is no reason to leave your computer due to the fact that quote results will go instantly to you. If you wish to compare prices from one company in particular, you would need to go to their quote page and complete a quote there.
What type of Jersey City car insurance agent is right for you?
When narrowing the list to find a local Jersey City insurance agency, it can be helpful to understand the different types of agents that you can select. Auto insurance agents can be classified as either exclusive or independent agents depending on their company appointments. Both can handle auto insurance, but it’s worth mentioning the differences since it can impact the kind of agent you use.
Independent Agents
Agents of this type are not employed by one company so they can insure your vehicles with an assortment of companies and find the cheapest rate. If prices rise, they simply switch companies in-house and that require little work on your part.
When comparing auto insurance prices, you should always contact multiple independent agents so that you have a good selection of quotes to compare.
Featured below is a partial list of independent agents in Jersey City that can possibly get you cheap rate quotes.
MHM Insurance
243 Central Ave # 1 – Jersey City, NJ 07307 – (201) 721-6081 – View Map
ABL Insurance Services
910 Bergen Ave # 307 – Jersey City, NJ 07306 – (201) 222-1314 – View Map
Royale Insurance Agency
2184 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 656-1800 – View Map
Exclusive Auto Insurance Agencies
These type of agents can only quote rates from one company like Allstate, State Farm and Farmers Insurance. Exclusive agents are unable to provide prices from multiple companies so you need to shop around if the rates are high. They receive a lot of sales training on sales techniques which helps them compete with independent agents.
Shown below is a list of exclusive insurance agencies in Jersey City who can help you get price quote information.
Jared Bush – State Farm® Insurance Agent
725 John F. Kennedy Blvd – North Bergen, NJ 07047 – (201) 325-8880 – View Map
Farmers Insurance – Mofalc Meinga
447 Central Ave – Jersey City, NJ 07307 – (201) 435-1616 – View Map
Alberto Santana – State Farm Insurance Agent
1755 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 332-3344 – View Map
Finding the right insurance agency requires you to look at more than just a low price. These questions are important to ask:
- Are they properly licensed to sell insurance in New Jersey?
- Are they paid to recommend certain coverages?
- Do they make recommendations based only on price?
- Are they primarily personal or commercial lines agents in Jersey City?
- Will you work with the agent or an assistant?
- Does the agency support the community they serve?
- Can you use your own choice of collision repair facility?
- Will you get a loaner vehicle if you car is being repaired?
Don’t give up on cheap coverage
We covered a lot of information how to find affordable BMW M3 insurance in Jersey City. The key concept to understand is the more you quote Jersey City car insurance, the better likelihood of getting affordable BMW M3 insurance quotes. Consumers could even find that the most savings is with a small mutual company.
Cheaper BMW M3 insurance in Jersey City is possible online in addition to many Jersey City insurance agents, and you need to price shop both to have the best chance of lowering rates. Some insurance companies do not offer internet price quotes and most of the time these small insurance companies prefer to sell through independent insurance agents.
When shopping online for auto insurance, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are many occasions where an insured dropped collision coverage only to regret that the few dollars in savings costed them thousands. Your strategy should be to buy the best coverage you can find at a price you can afford, but don’t skip important coverages to save money.
Steps to saving money on BMW M3 insurance in Jersey City
The best way to get discount car insurance rates in Jersey City is to compare prices at least once a year from providers who sell insurance in New Jersey. Drivers can shop around by completing these steps.
- Get an understanding of auto insurance and the changes you can make to keep rates low. Many risk factors that are responsible for high rates such as at-fault accidents, careless driving, and a negative credit score can be remedied by making minor changes to your lifestyle.
- Obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO or State Farm, while independent agencies can quote rates for a wide range of insurance providers.
- Compare the new quotes to the premium of your current policy and determine if cheaper M3 coverage is available in Jersey City. If you find a lower rate quote and make a switch, ensure there is no coverage lapse between policies.
- Notify your current company of your intent to cancel your current policy. Submit the completed application along with a down payment to the new insurer. Once the application is submitted, keep your new proof of insurance paperwork in your vehicle.
A good piece of advice is to make sure you’re comparing the same deductibles and limits on every price quote and and to get price estimates from every insurance company. This provides a level playing field and a good representation of prices.
Additional information is located on the following sites:
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Who Has Affordable Jersey City Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- Who Has Cheap Car Insurance for Homeowners in Jersey City? (FAQ)
- Who Has Cheap Car Insurance Quotes for Teenage Males in Jersey City? (FAQ)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Older Driver Statistics (Insurance Information Institute)
- Information for Teen Drivers (GEICO)
- Safety Tips for Teen Drivers (Insurance Information Institute)