Cheapest 2018 BMW M4 Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2023

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Looking for the cheapest car insurance rates in your state for your BMW M4? Buying the best coverage is simple if you know the tricks.

Basically, anyone who buys car insurance should be able to find lower rates. Although car owners should learn the methods companies use to sell insurance online and take advantage of how the system works.

BMW M4 Auto Insurance Coverage

Understanding the coverages of your policy aids in choosing appropriate coverage with the best deductibles and correct limits to save on your M4 insurance cost. The terms used in a policy can be confusing and nobody wants to actually read their policy. But understanding what types of coverage is available, and only buying what you need, can help you find an affordable BMW M4 insurance price.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as damage to your BMW M4.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Usually, your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Auto liability insurance

Liability insurance provides protection from damage or injury you incur to a person or their property in an accident. It protects you against claims from other people and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident, and property damage. You might see liability limits of 100/300/100 that translate to $100,000 bodily injury coverage, $300,000 for the entire accident, and property damage coverage for $100,000.

Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims like funeral expenses, attorney fees, loss of income, and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a personal decision, but you should buy as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for short-term medical expenses for dental work, chiropractic care, and hospital visits. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage.

It covers both the driver and occupants and also covers being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

Auto collision coverage

This coverage covers damage to your M4 from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as hitting a mailbox, crashing into a ditch, backing into a parked car, sustaining damage from a pothole, and scraping a guard rail. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible in order to get cheaper collision rates.

Comprehensive insurance

This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as hitting a bird, theft, damage from a tornado or hurricane, and fire damage. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Tailor Car Insurance Coverage to Your Needs

When choosing proper insurance coverage, there is no best way to insure your cars. Everyone’s needs are different.

Here are some questions about coverages that might point out if your insurance needs might need an agent’s assistance.

  • Can I afford low physical damage deductibles?
  • How can I get high-risk coverage after a DUI?
  • What if I owe more than I can insure my car for?
  • Is my trailer covered?
  • Am I covered if my car is in a flood?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Should I buy full coverage?
  • Why do I only qualify for high-risk insurance?
  • How can I find cheaper teen driver insurance?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent.

BMW M4 Car Insurance Discounts

Car insurance for a BMW M4 is easily one of your largest bills, but there could be significant discounts to help offset the cost. Some discounts apply automatically when you complete an application, but occasionally some discounts must be asked about before you get the savings.

  • Seat Belt Usage — Requiring all passengers to use their safety belts could cut 10% or more off the PIP or medical payment premium.
  • Government Employees — Active or retired federal employment could cut as much as 10% off on M4 coverage with some car insurance companies.
  • Drive Safe and Save — Drivers who don’t get into accidents can save as much as half off their rates on M4 coverage compared to accident-prone drivers.
  • Driver Education Discount — Teen drivers should participate in a local driver’s education class if offered at their school.
  • Discounts for New Vehicles — Buying a new car model is cheaper because newer models have to meet stringent safety requirements.
  • Distant Student — Older children who live away from home at college and won’t have access to an insured vehicle may be insured at a cheaper rate.
  • Home Ownership Discount — Simply owning a home may trigger a policy discount on car insurance since owning and maintaining a home demonstrates responsibility.

Discounts lower rates, but some of the credits will not apply to your bottom line cost. Most only apply to specific coverage prices like collision or personal injury protection. Despite the fact that it seems like having all the discounts means you get insurance for free, you aren’t that lucky.

A few of the larger companies and their offered discounts are outlined below.

  • Esurance has discounts for homeowners, anti-theft, multi-car, good driver, claim-free, good student, and multi-policy.
  • The Hartford may have discounts that include defensive driver, anti-theft, vehicle fuel type, good student, bundle, and driver training.
  • AAA policyholders can earn discounts including pay-in-full, anti-theft, good driver, education and occupation, multi-car, good student, and multi-policy.
  • GEICO has savings for emergency military deployment, anti-lock brakes, five-year accident-free, multi-vehicle, defensive driver, anti-theft, and driver training.
  • State Farm offers discounts for multiple autos, good driver, passive restraint, Steer Clear safe driver discount, and students away at school.

If you want affordable car insurance quotes, ask all companies you are considering to apply every possible discount. Discounts might not be offered on policies in your area.

Compare Rates to Save on BMW M4 Car Insurance

A few companies may not offer rates over the internet and these regional insurance providers prefer to sell through independent agents. The cheapest 2018 BMW M4 insurance can be purchased online and also from your neighborhood agents, and you should compare rates from both to have the best rate selection.

Drivers leave their current company for a variety of reasons including policy cancellation, unfair underwriting practices, delays in responding to claim requests, and even a lack of trust in their agent. No matter why you want to switch, choosing a new insurance company can be easier than you think.

We just presented some good ideas on how you can shop for 2018 BMW M4 insurance online. It’s most important to understand that the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. Drivers may discover the lowest rates are with some of the lesser-known companies.

Evaluating the Major Insurance Companies

Wich of the major car insurance companies come out on top? State Farm vs. Allstate, Geico, or Progressive, which is best?

Big-name companies like Progressive, GEICO, Allstate, and State Farm regularly use ads on television and other media. They all say the same thing about how much you will save just by moving your coverage. Is it even possible that every company can save you money? Here is how they do it.

Companies have a certain “appetite” for the type of driver that will most likely be profitable. An example of a desirable insured could possibly be over the age of 35, has had continuous coverage, and chooses high deductibles. A customer getting a price quote who matches those parameters is entitled to the best price as well as cut their rates if they switch.

Insureds who are not a match for this ideal profile will see a higher rate with the end result being business going elsewhere. The wording the ads use says “customers that switch” not “everyone who quotes” which can save as much as they claim. That is how insurance companies can state the savings.

Because of the profiling, it’s extremely important to get as many free car insurance quotes as possible. It is impossible to guess which company will have the lowest rate quotes.

Use our free quote tool to get BMW m4 insurance quotes from insurance companies near you.

Frequently Asked Questions

How can I find cheaper car insurance for a teen driver, especially for my BMW M4?

Insuring a teen driver, especially for a high-performance vehicle like a BMW M4, can be expensive. To find cheaper car insurance for a teen driver, consider adding them to your existing policy, as this may offer multi-driver discounts. Encourage your teen to maintain good grades, as some insurance providers offer discounts for students with high academic achievements. Additionally, defensive driving courses or driver education programs may qualify them for additional discounts. Shopping around and comparing quotes from different insurance providers is crucial to finding the most affordable coverage.

Why do I only qualify for high-risk insurance?

Insurance companies classify drivers as high-risk based on factors such as a history of accidents, traffic violations, DUI convictions, or poor credit history. High-risk insurance generally comes with higher premiums. Improving your driving record, maintaining a good credit score, and avoiding further violations can help you qualify for standard insurance rates over time.

Should I buy full coverage for my 2018 BMW M4?

The decision to purchase full coverage, which includes both comprehensive and collision coverage, depends on various factors. Full coverage offers more extensive protection for your vehicle but comes at a higher cost. Consider factors such as the value of your BMW M4, your budget, and your personal risk tolerance when deciding whether to purchase full coverage. Additionally, if your vehicle is financed or leased, full coverage may be required by the lender or leasing company.

Are borrowed equipment or tools covered if they are stolen or damaged from my BMW M4?

The coverage for borrowed equipment or tools would depend on the specific terms of your insurance policy. In some cases, comprehensive coverage may extend to cover the theft or damage of borrowed items from your vehicle. However, it’s recommended to review your policy or consult with your insurance provider to confirm the extent of coverage for borrowed items.

Will my car insurance cover damage if my BMW M4 is involved in a flood?

Comprehensive insurance typically covers damage to your vehicle caused by natural disasters, including floods. However, it’s important to review your insurance policy and verify the coverage details. If you live in an area prone to flooding, it’s advisable to ensure you have comprehensive coverage to protect against such incidents.

Can I insure my 2018 BMW M4 for a higher amount than its market value?

Generally, insurance coverage is based on the actual cash value of the vehicle. Insuring a vehicle for an amount higher than its market value may not be possible or practical. It’s recommended to consult with your insurance provider to understand the options available for insuring your BMW M4.

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