2004 BMW M3 Insurance Rates
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UPDATED: Apr 27, 2020
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Average insurance rates for a 2004 BMW M3 are $1,110 a year with full coverage. Comprehensive insurance costs an estimated $210 a year, collision costs $282, and liability insurance costs around $460. Buying a liability-only policy costs as low as $510 a year, with high-risk insurance costing $2,382 or more. Teenage drivers receive the highest rates at $4,342 a year or more.
Annual premium for full coverage: $1,110
Rate estimates for 2004 BMW M3 Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2004 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 $510 for basic liability insurance to a high of $2,382 for a high risk driver.
These differences demonstrate why it is important for drivers to compare prices for a targeted area and risk profile, rather than relying on average rates.
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 2004 BMW M3 Insurance
Tired of not being able to afford to insure your BMW every month? Your situation is no different than the majority of other car owners. Big-name insurance companies like State Farm and GEICO continually bombard you with fancy advertisements and it is challenging if not impossible to ignore the propoganda and do the work needed to find the best deal.
Consumers need to compare prices yearly since rates fluctuate regularly. Despite the fact that you may have had the lowest price on M3 insurance a year ago other companies may now be cheaper. So just forget all the misinformation about auto insurance because I’m going to teach you the best methods to save money, get proper coverage and the best rates.
If you are insured now or need a new policy, you can use these tips to cut your premiums and still get good coverage. Finding the best rates is not that difficult. Consumers just need to know the most efficient way to get comparison rates online.
Save big with these discounts
Insuring your fleet can be pricey, buy you may qualify for discounts that you may not know about. Certain discounts will be triggered automatically at the time of purchase, but less common discounts must be specially asked for before you will receive the discount. If you’re not getting every credit possible, you’re paying more than you need to.
- More Vehicles More Savings – Buying insurance for multiple cars or trucks on one policy may reduce the rate for each vehicle.
- Sign Early and Save – A few companies offer discounts for buying a policy before your current expiration date. It can save you around 10%.
- Homeowners Pay Less – Owning a home can help you save on insurance because owning a home demonstrates responsibility.
- Save with a New Car – Insuring a new car can cost up to 25% less because new vehicles have to meet stringent safety requirements.
- Memberships – Participating in a qualifying organization could trigger savings when buying insurance on M3 insurance.
- Good Student Discount – This discount can earn a discount of 20% or more. Earning this discount can benefit you up to age 25.
- Fewer Miles Equal More Savings – Low mileage vehicles can earn better rates on cars that stay parked.
- Anti-lock Brakes – Cars that have steering control and anti-lock brakes can avoid accidents and therefore earn up to a 10% discount.
- Theft Prevention System – Vehicles with anti-theft systems can help prevent theft and therefore earn up to a 10% discount.
Keep in mind that many deductions do not apply to the entire policy premium. Most only reduce individual premiums such as collision or personal injury protection. So even though they make it sound like having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will reduce the amount you have to pay.
Insurance companies that may have these money-saving discounts include:
Check with all companies you are considering what discounts are available to you. Discounts might not apply in your area.
The method we recommend to compare rates is to know the trick most of the larger companies allow for online access to quote your coverage. The one thing you need to do is take a few minutes to give details including how much education you have, if you are currently licensed, whether or not you need a SR-22, and daily mileage. The data gets sent immediately to multiple top-rated companies and you get price estimates quickly.
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But I don’t know anything about car insurance
When buying the right insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Everyone’s situation is unique so this has to be addressed. These are some specific questions can help discover whether or not you will benefit from professional help.
- Who is covered by my policy?
- I have good health insurance, so how much medical payments coverage do I need?
- What is covered by UM/UIM coverage?
- How much liability insurance is required?
- Can I make deliveries for my home business?
- Does coverage extend to Mexico or Canada?
If you can’t answer these questions, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and you can get the answers you need.
Coverages available on your auto insurance policy
Knowing the specifics of auto insurance aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. Below you’ll find typical coverages found on the average auto insurance policy.
Liability car insurance – Liability insurance can cover damages or injuries you inflict on other’s property or people. This insurance protects YOU against other people’s claims, 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. As an example, you may have limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Another option is a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability can pay for things such as loss of income, repair costs for stationary objects and pain and suffering. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.
Collision – This pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for things such as damaging your car on a curb, sustaining damage from a pot hole, hitting a parking meter, sideswiping another vehicle and scraping a guard rail. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to increase the deductible in order to get cheaper collision rates.
Comprehensive (Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as fire damage, hail damage, vandalism and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Medical expense insurance – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like X-ray expenses, dental work, pain medications, doctor visits and prosthetic devices. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Protection from uninsured/underinsured drivers – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
And the best car insurance company is…
When shopping online for insurance coverage, don’t be tempted to buy less coverage just to save a little money. There are many occasions where an accident victim reduced physical damage coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to get the best coverage possible at the best price, not the least amount of coverage.
You just read some good ideas how to get a better price on 2004 BMW M3 insurance. It’s most important to understand that the more you quote, the better your chances of lowering your rates. Drivers may discover the most savings is with some of the lesser-known companies. Smaller companies may have significantly lower rates on certain market segments compared to the large companies like State Farm or Progressive.
To read more, feel free to browse the resources below:
- Shopping for a Safe Car (Insurance Information Insitute)
- Drunk Driving Statistics (Insurance Information Insitute)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Insurance Losses by Make and Model (iihs.org)
Rates by U.S. City
|New York City, NY||$1,755|
|Los Angeles, CA||$1,896|
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||$71|
|5-yr Claim Free||$70|
|Paid in Full/EFT||$43|
Discounts are estimated and may not be available from every company or in every state.