Cheap Quotes for BMW M3 Insurance in Tampa

Insurance for BMW M3The recommended way to find cheaper auto insurance rates is to make a habit of comparing prices annually from insurers who can sell car insurance in Tampa.

A good tip to remember is that you’ll want to make sure you compare similar deductibles and liability limits on each price quote and to quote with all possible companies. Doing this guarantees a fair rate comparison and a complete price analysis.

It’s an obvious conclusion that auto insurance companies don’t want policyholders to shop around. Drivers who perform rate comparisons will probably buy a different policy because they have good chances of finding lower prices. Surprisingly, a recent survey revealed that consumers who regularly compared price quotes saved over $865 a year compared to drivers who never shopped around for lower prices.

If finding the best price on BMW M3 insurance is your ultimate target, then having an understanding of how to quote prices and compare car insurance can help you be more efficient.

If you have a current auto insurance policy, you should be able to cut your premiums using the techniques presented in this article. Buying the cheapest auto insurance in Tampa seems hard but is not really that difficult. Although Florida drivers do need to understand how companies determine how much to charge and apply this information to your search.

Affordable car insurance in Tampa, FL

The following companies can provide free rate quotes in Tampa, FL. If multiple companies are listed, we recommend you click on several of them to get a more complete price comparison.

BMW M3 insurance rate analysis

The table shown below covers a range of insurance rates for BMW M3 models. Learning a little about how insurance policy premiums are formulated can be of help when making smart choices when purchasing an insurance policy.

BMW M3 Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $344 $692 $392 $24 $118 $1,570 $131
M3 CI 2-Dr Coupe $376 $772 $392 $24 $118 $1,682 $140
M3 2-Dr Convertible $376 $772 $392 $24 $118 $1,682 $140
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Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate information does not factor in garaging location in Tampa which can influence prices greatly.

Can higher deductibles save money?

One of the more difficult decisions when buying auto insurance is at what level do you set your deductibles. The tables below may help you to understand the price difference when you select higher and lower coverage deductibles. The first data set uses a $100 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.

BMW M3 insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $498 $994 $418 $24 $124 $2,083 $174
M3 CI 2-Dr Coupe $544 $1110 $418 $24 $124 $2,245 $187
M3 2-Dr Convertible $544 $1110 $418 $24 $124 $2,245 $187
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BMW M3 insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M3 4-Dr Sedan $276 $524 $418 $24 $124 $1,366 $114
M3 CI 2-Dr Coupe $302 $586 $418 $24 $124 $1,454 $121
M3 2-Dr Convertible $302 $586 $418 $24 $124 $1,454 $121
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Premium amounts do not factor in specific zip code location which can change rates considerably.

We can derive from the above data that using a $100 deductible costs roughly $64 more each month or $768 annually than selecting the higher $1,000 deductible. Since you would have to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you average at least 14 months between claims, you would probably come out ahead if you elect the higher deductible.

Gender-based auto insurance premiums

The information below visualizes the comparison of BMW M3 insurance prices for male and female drivers. The data assumes a clean driving record, no claims, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are applied.

Does it make sense to buy full coverage?

The example below visualizes the comparison of BMW M3 insurance prices with full physical damage coverage and with liability coverage only. The rate quotes are based on no violations or claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.

When to drop comprehensive and collision

There is no set guideline to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your BMW M3 settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after the deductible is paid. If you are paying in excess of $800 annually for physical damage coverage, then you might consider buying liability only.

There are some conditions where only buying liability is not a good plan. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not buy liability only.

Score discounts on Tampa car insurance

Car insurance can be pricey, but you might already qualify for some discounts to help offset the cost. Some of these discounts will be visible when you quote, but some may not be applied and must be asked about in order for you to get them.Car insurance discounts

As a disclaimer on discounts, most discount credits are not given to the whole policy. Most only apply to individual premiums such as liability and collision coverage. So when it seems like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

The information below compares BMW M3 insurance costs with and without policy discounts. The premium estimates are based on a female driver, no violations or accidents, Florida state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-policy, multi-car, homeowner, and safe-driver discounts applied.

Larger car insurance companies and some of their more popular discounts can be read below.

Double check with each insurance company which discounts can lower your rates. Some of the earlier mentioned discounts may not be offered in Tampa. To find providers who offer car insurance discounts in Tampa, click here to view.

Insurance Premium Influencing Factors

Many different elements are considered when you quote your car insurance policy. Some are pretty understandable such as traffic violations, although some other factors are more obscure like your continuous coverage or how financially stable you are.

The list below includes some of the major factors car insurance companies consider when setting your rate level.

When to have guidance from an insurance agency

Some people prefer to sit down with an agent and that can be a great decision The biggest benefit of comparing auto insurance online is that drivers can save money and get the lowest rates and still choose a local agent.

To make it easy to find an agent, after completing this form (opens in new window), the coverage information is submitted to local insurance agents that give free quotes and help you find cheaper coverage. There is no need to contact an agency because prices are sent instantly to you. You can find the lowest rates and a licensed agent to work with. If you want to get a price quote for a specific company, you would need to search and find their rate quote page and fill out their quote form.

Finding the right company shouldn’t rely on just the bottom line cost. Any agent in Tampa should have no problem answering these questions:

Tampa car insurance agents are either independent or exclusive

If you are wanting to find a local agent, there are a couple of types of agencies and how they work. Agents in Tampa can be described as either independent agents or exclusive agents.

Exclusive Insurance Agents

Agents in the exclusive channel work for only one company like Allstate, State Farm and Farm Bureau. Exclusive agents cannot shop your coverage around so keep that in mind. These agents are very knowledgeable on their company’s products which can be an advantage.

Shown below are Tampa exclusive insurance agents that are able to give price quotes.

14940 N Florida AveTampa, FL 33613(813) 961-6661View Map

John Lang – State Farm Insurance Agent
4023 W Waters Ave #5Tampa, FL 33614(813) 885-2748View Map

4941 E Busch Blvd Ste 150Tampa, FL 33617(813) 985-3889View Map

View more Tampa agents

Independent Agents

Independent insurance agents do not sell for just one brand and that enables them to quote your coverage with many different companies and find the cheapest auto insurance rates. If prices rise, the business is moved internally which is easy for the insured. If you need lower rates, it’s a good idea to get several quotes from several independent insurance agents to ensure the widest selection of prices.

The following are independent agents in Tampa willing to provide price quote information.

4311 W El Prado BlvdTampa, FL 33629(813) 831-8889View Map

3021 W Swann AveTampa, FL 33609(813) 877-7799View Map

6601 Memorial Hwy #230Tampa, FL 33615(813) 884-7577View Map

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Lower rates by being persistent

As you prepare to switch companies, it’s a bad idea to reduce coverage to reduce premium. There are too many instances where consumers will sacrifice collision coverage and learned later that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase plenty of coverage at the lowest possible cost, but do not skimp to save money.

In this article, we covered a lot of information how to find cheaper BMW M3 insurance in Tampa. The key thing to remember is the more price quotes you have, the better likelihood of getting affordable Tampa auto insurance quotes. Drivers may even discover the lowest priced car insurance comes from a small local company. Smaller companies may have significantly lower premium rates on certain market segments as compared to the big name companies such as State Farm and Allstate.

Much more information about car insurance in Florida can be read at these links: