1990 BMW M3 Insurance Rates
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UPDATED: Apr 27, 2020
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Average insurance rates for a 1990 BMW M3 are $1,024 a year including full coverage. Comprehensive insurance costs around $182 each year, collision costs $242, and liability coverage costs around $442. Buying a liability-only policy costs as low as $496 a year, with high-risk insurance costing $2,198 or more. Teen drivers receive the highest rates at $4,064 a year or more.
Annual premium for full coverage: $1,024
Rate estimates for 1990 BMW M3 Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 1990 BMW M3 models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a middle-aged driver, prices range go from as low as $496 for the bare minimum liability coverage to a high rate of $2,198 for a high risk driver.
These differences highlight why all drivers should compare prices for a specific zip code and risk profile, rather than using price averages.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 1990 BMW M3 Insurance
Locating cheaper insurance for a BMW M3 can turn out to be an all-consuming task, but you can follow our auto insurance buying tips to make it easier. There is a right way and a wrong way to buy auto insurance so you’re going to learn the quickest way to quote coverages for your BMW and obtain the lowest possible price.
You need to check auto insurance prices at least once a year because insurance rates tend to go up over time. Just because you found the lowest rates for M3 coverage last year you can probably find a better price now. Ignore everything you know about auto insurance because we’re going to demonstrate the only way to properly buy coverages while reducing your premium.
Companies offer discounts so take them!
Companies don’t necessarily list every available discount in an easy-to-find place, so we took the time to find both well-publicized and also the lesser-known discounts you could be receiving. If they aren’t giving you every credit available, you are paying more than you should be.
- Pay Now and Pay Less – If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.
- Memberships – Belonging to a civic or occupational organization is a good way to get lower rates when buying insurance coverage for M3 coverage.
- Fewer Miles Equal More Savings – Driving fewer miles could qualify for lower rates on the low mileage vehicles.
- Distant Student – Kids in college who are attending college and don’t have a car may qualify for this discount.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
- Save over 55 – If you’re over the age of 55, you may qualify for better insurance coverage rates for M3 coverage.
- Sign Early and Save – Some companies give discounts for signing up prior to your current policy expiring. It can save you around 10%.
As a disclaimer on discounts, most discount credits are not given to your bottom line cost. The majority will only reduce specific coverage prices like liability, collision or medical payments. So when it seems like all those discounts means the company will pay you, you won’t be that lucky.
Car insurance companies who might offer some of the above discounts are:
Check with every prospective company which discounts they offer. Some discounts may not be available in every state.
How to Compare Insurance Costs
Most major insurance companies allow you to get prices for coverage directly from their websites. The process doesn’t take much effort as you simply enter your coverage information into a form. After the form is submitted, their system requests your credit score and driving record and generates pricing information.
This makes comparing rates easy, but the work required to visit many different websites and fill out multiple forms is monotonous and tiresome. But it’s absolutely necessary to perform this step if you want to find the lowest insurance rates.
Rate comparisons made easy
The preferred way to compare rates utilizes a single form that obtains quotes from multiple companies. This type of form saves time, helps eliminate reptitive entry, and makes rate comparisons a lot less work. Immediately after you send the form, it is quoted with multiple companies and you can pick any of the pricing results. If you find a better price you can simply submit the application and buy the new coverage. It takes 15 minutes at the most and may result in a nice savings.
To find out how much you can save on insurance, simply click here to open in new window and complete the simple form. If you currently have coverage, we recommend you type in the limits and deductibles as close as possible to your current policy. This makes sure you will be getting rate quotes based on similar coverages.
Pieces of the BMW M3 insurance rate puzzle
An important part of buying insurance is that you know some of the elements that help determine the price you pay for car insurance. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that could result in lower car insurance prices.
- High numbers of claims are not good – If you frequently file small claims, you can expect either a policy non-renewal or much higher rates. Car insurance companies award cheaper rates to insureds who file claims infrequently. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
- Are you male or female? – Statistics demonstrate that women are safer drivers than men. Now that doesn’t mean men are worse drivers. Men and women have accidents at a similar rate, but the males tend to have more serious accidents. They also have more aggressive citations like reckless driving and DUI.
- Do you qualify for a multi-policy discount? – Some insurers give discounts to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can add up to five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to shop around to confirm you are receiving the best rates possible. Drivers may still find better rates by buying car insurance from a different company.
- Increase deductibles and save – The deductibles represent how much money you are willing to pay before your car insurance pays a claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. A few examples of covered claims could be colliding with a building, collision with an animal, and burglary. The more expense you have to pay, the less your company will charge you for insurance for M3 coverage.
- Rates may be lower depending on your job – Occupations like doctors, executives and financial analysts are shown to have higher average rates attributed to high stress levels and lengthy work days. Conversely, jobs such as scientists, engineers and retirees pay the least for M3 coverage.
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Do I just need basic coverages?
When buying the right insurance coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s needs are different.
These are some specific questions may help highlight whether or not you might need professional guidance.
- Am I covered when driving a rental car?
- How much can I save by bundling my policies?
- Who is covered by my policy?
- How do I buy GAP insurance?
- Am I getting all the discounts available?
- Why am I required to buy liability insurance?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form. It is quick, free and can provide invaluable advice.
Save $476 a year. For real?
Consumers constantly see and hear ads that promise big savings from the likes of Progressive, Allstate and GEICO. All the ads make an identical promise that you can save after switching your coverage to them.
How can each company make the same claim?
Different companies have a preferred profile for the type of driver that earns them a profit. An example of a preferred risk might be profiled as over the age of 40, has no driving citations, and has excellent credit. A customer getting a price quote who fits that profile will get very good rates and as a result will probably cut their rates substantially.
Potential insureds who fall outside this ideal profile must pay a more expensive rate which usually ends up with the driver buying from a lower-cost company. Company advertisements say “drivers who switch” but not “drivers who get quotes” save that much money. That’s why companies can truthfully make the claims of big savings. This illustrates why it is so important to get quotes from several different companies. It is impossible to predict which auto insurance company will provide you with the cheapest BMW M3 insurance rates.
What insurance coverages do you need?
Knowing the specifics of your policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your BMW M3.
Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like ambulance fees, prosthetic devices, funeral costs and doctor visits. They are often used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage protects against things such as backing into a parked car, damaging your car on a curb, crashing into a building and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.
This can cover damages or injuries you inflict on other’s property or people. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.
Liability coverage protects against things such as loss of income, bail bonds and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford.
Comprehensive coverage (or Other than Collision)
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like rock chips in glass, a tree branch falling on your vehicle, damage from a tornado or hurricane, vandalism and falling objects. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Take this to the bank
We just covered many ways to save on 1990 BMW M3 insurance. The key thing to remember is the more providers you compare, the more likely it is that you will get a better rate. You may even discover the lowest priced insurance comes from a small local company.
Drivers switch companies for a number of reasons such as delays in paying claims, questionable increases in premium, unfair underwriting practices and even high rates after DUI convictions. No matter why you want to switch, finding a great new company can be easy and end up saving you some money.
As you prepare to switch companies, it’s not a good idea to skimp on coverage in order to save money. There have been many cases where an insured dropped liability coverage limits and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to get the best coverage possible at a price you can afford.
Additional information can be read at the links below
- Crash Avoidance Technologies FAQ (iihs.org)
- Air Bags: Potential Dangers to Your Children (Insurance Information Insitute)
- Insuring a Leased Car (Insurance Information Insitute)
- Information for Teen Drivers (GEICO)
Rates by U.S. City
|New York City, NY||$1,620|
|Los Angeles, CA||$1,752|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$63|
|5-yr Claim Free||$64|
|Paid in Full/EFT||$38|
Discounts are estimated and may not be available from every company or in every state.