No one in their right mind loves paying for car insurance, especially when they are aware that the price is too high.
We don’t have to tell you that car insurance companies don’t want you to look at other companies. People who shop around for cheaper price quotes will probably switch to a new company because there is a great chance of finding coverage at a cheaper rate. A recent survey discovered that consumers who make a habit of shopping around saved on average $3,500 over four years as compared to drivers who never compared rates.
If finding the cheapest rates on auto insurance is your target objective, then having a good understanding how to find and compare insurance premiums can help you succeed in saving money. Numerous car insurance companies battle for your insurance dollar, and it can be difficult to compare rates to find the best rates possible on BMW M2 insurance in Miami.
The quickest method we recommend to get rate comparisons for BMW M2 insurance in Miami is to understand almost all companies provide online access to compare their rates. The only thing you need to do is give the companies some data including how much coverage you want, whether the vehicles are used for commuting, what your job is, and if the car is leased. Your insurance information is submitted instantly to insurance carriers in your area and you receive quotes within a short period of time.
To get price quotes for your BMW M2 now, click here and enter the information requested.
The companies shown below provide free rate quotes in Florida. If you want cheap car insurance in FL, we suggest you get price quotes from several of them to find the most competitive car insurance rates.
Car insurance just makes sense
Despite the fact that car insurance is not cheap in Miami, buying car insurance is a good idea for several reasons.
- Almost all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability in order to license the vehicle. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your BMW M2 has a lienholder, almost all lenders will force you to have comprehensive coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank may insure your BMW at a more expensive rate and make you pay the higher price.
- Insurance protects not only your car but also your assets. It will also cover medical expenses for yourself as well as anyone injured by you. Liability insurance also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of having insurance greatly outweigh the cost, particularly when you have a large claim. The average driver in Florida is currently overpaying as much as $825 a year so compare rate quotes at every policy renewal to help ensure money is not being wasted.
How Insurers Determine BMW M2 Insurance Costs
Lots of things are considered when quoting car insurance. Most are fairly basic such as your driving record, but other criteria are not quite as obvious such as whether you are married or your commute time.
Incidental coverages are wasting money – Policies have additional coverages that can waste your money when buying insurance. Coverages for personal injury protection, high-cost glass coverage, and extra equipment coverage are some examples. They may seem good at first, but now you might not need them so eliminate them to save money.
Bad credit hurts insurance premiums – Your credit rating is a big factor in your rate calculation. Drivers who have very high credit ratings tend to be more responsible than those with bad credit. Therefore, if your credit score leaves room for improvement, you could pay less to insure your BMW M2 if you clean up your credit.
Your employer and insurance rates – Careers such as military generals, social workers, and dentists are shown to have higher rates than average in part from high stress levels and incredibly demanding work hours. Other occupations like farmers, engineers and performers have lower than average premiums.
Male premiums may be higher – Over the last 50 years, statistics have shown females are less aggressive when driving. This data doesn’t prove that men are WORSE drivers than women. Both sexes tend to get into at-fault accidents at about the same rate, but the men have accidents that have higher claims. Men also get higher numbers of serious violations like DUI and reckless driving.
Insurance is expensive for teenage drivers – Teenage drivers in Florida tend to get distracted easily with other occupants in the car so insurance rates are higher. Parents adding a beginning driver onto a policy can be quite pricey. Mature drivers have been proven to be more responsible, are lower risk to insure, and are generally more financially stable.
More people means more accidents – Choosing to live in smaller towns and rural areas of the country can be a good thing when insuring your vehicles. Fewer drivers and short commutes means reduced accidents as well as less vandalism and auto theft. City drivers tend to have more road rage incidents and a longer drive to work. More time on the road means a statistically higher chance of an accident.
Stay claim-free and reduce premiums – If you frequently file small claims, you shouldn’t be surprised to get much higher rates or policy non-renewal. Companies in Florida award the lowest premiums to insureds who are claim-free. Insurance coverage is intended to be relied upon for major claims that would cause financial hardship.
Cheaper rates with high physical damage deductibles – Physical damage protection, also known as collision and other-than-collision, covers damage that occurs to your BMW. Some instances where coverage would apply would be colliding with a building, hitting a deer, or theft. Deductibles for physical damage are how much the insured will be required to pay if a claim is determined to be covered. The more money you choose to pay out-of-pocket, the lower your rates will be.
Insurance loss data for a BMW M2 – Auto insurance companies analyze claim trends for every vehicle when setting rates for each model. Models that historically have higher losses will have higher rates.
The data below shows the insurance loss data used by companies for BMW M2 vehicles. For each policy coverage, the loss probability for all vehicles as a whole is equal to 100. Values that are under 100 suggest losses that are better than average, while numbers above 100 indicate more frequent claims or statistically larger losses.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| BMW M235 i 2dr | 155 | 277 |
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Best auto insurance company in Miami
Choosing the best company can be difficult considering how many companies are available to choose from in Florida. The company rank data shown below may help you decide which car insurance providers you want to consider purchasing from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Compare but don’t skimp
When searching for affordable Miami auto insurance quotes, you should never skimp on critical coverages to save a buck or two. In many instances, an insured cut full coverage to discover at claim time that the few dollars in savings costed them thousands. Your strategy should be to find the BEST coverage at the best possible price, but do not sacrifice coverage to save money.
We just covered a lot of ways to save on BMW M2 insurance in Miami. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even find the lowest prices are with the smaller companies. Regional companies can often provide lower rates in certain areas as compared to the big name companies such as Progressive or GEICO.
Some companies may not offer online rate quotes and many times these smaller companies sell through local independent agencies. Cost effective BMW M2 insurance can be purchased from both online companies as well as from insurance agents, so you should be comparing quotes from both to have the best rate selection.
How to buy discount BMW M2 insurance in Miami
If saving the most money is your goal, then the best way to quote cheaper auto insurance rates is to begin comparing prices regularly from providers who can sell car insurance in Miami.
- It will benefit you to learn about the different coverages in a policy and the changes you can make to prevent expensive coverage. Many factors that result in higher rates like traffic citations, accidents, and poor credit history can be eliminated by being financially responsible and driving safely.
- Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like GEICO and State Farm, while independent agencies can provide rate quotes from multiple insurance companies.
- Compare the new rate quotes to your existing rates and determine if there is any savings. If you find better rates and decide to switch, make sure coverage does not lapse between policies.
- Provide proper notification to your current company of your intention to cancel your current policy. Submit the application along with any required down payment to your new insurance company. As soon as you receive it, put the certificate verifying proof of insurance with your registration paperwork.
One key aspect when comparing rates is that you’ll want to compare the same coverage limits and deductibles on each price quote and and to get prices from as many car insurance companies as possible. Doing this helps ensure an accurate price comparison and many rates to choose from.
Additional auto insurance information is located below:
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- How Much are Car Insurance Quotes for a Jeep Wrangler in Miami? (FAQ)
- How Much are Auto Insurance Quotes with Multiple Speeding Tickets in Miami? (FAQ)
- Who Has Cheap Miami Auto Insurance Quotes for Teachers? (FAQ)
- What Auto Insurance is Cheapest for a Hyundai Santa Fe in Miami? (FAQ)
- Winter Driving (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Alcohol Impaired Driving FAQ (iihs.org)