Comparing and finding cheaper prices for BMW M2 insurance in Phoenix can be very difficult for beginners to comparison shopping online. With dozens of online companies, it can easily turn into hard work to find the best prices.
Regrettably, almost 70% of insureds have bought car insurance from the same company for at least four years, and nearly 40% of drivers have never shopped around. Many drivers in Arizona could save an average of roughly $730 each year, but they just don’t understand the big savings they would realize if they replace their high priced policy.
Consumers need to get comparison quotes quite often due to the fact that insurance rates fluctuate regularly. Just because you found the lowest premium rates on BMW M2 insurance in Phoenix two years ago there is a good chance you can find better prices now. Forget anything you know (or think you know) about car insurance because you’re going to learn the quickest way to lower your annual insurance bill.
These seven discounts can slash BMW M2 insurance rates
The price of auto insurance can be rather high, but there could be available discounts to help offset the cost. Many of these discounts will be applied automatically at the time you complete a quote, but lesser-known reductions have to be asked about before you get the savings.
- Federal Government Employee – Having worked for a branch of the government could qualify for a slight premium decrease but check with your company.
- Senior Discount – Drivers over the age of 55 can get a small decrease in premiums.
- Good Student – Getting good grades may save as much as 25% on a Phoenix auto insurance quote. Earning this discount can benefit you well after school through age 25.
- Discount for Home Ownership – Simply owning a home can save a few bucks since home ownership is proof that your finances are in order.
- No Accidents – Insureds who avoid accidents and claims have much lower rates in comparison to frequent claim filers.
- Passive Restraint Discount – Vehicles equipped with air bags and/or automatic seat belt systems can receive discounts of more than 20%.
- Discounts for New Vehicles – Adding a new car to your policy is cheaper due to better safety requirements for newer models.
Don’t be shocked that most discounts do not apply to the whole policy. A few only apply to specific coverage prices like comp or med pay. So when the math indicates you could get a free insurance policy, companies don’t profit that way.
To choose insurance companies who offer discounts in Phoenix, follow this link.
Keep in mind that getting more free quotes will improve the odds of getting a lower rate.
The companies in the list below offer comparison quotes in Phoenix, AZ. If more than one company is shown, we suggest you visit as many as you can to get the best price comparison.
Car insurance quotes from neighborhood Phoenix auto insurance agents
Many drivers still like to buy from a local agent and that is just fine! One of the benefits of getting free rate quotes online is that you can obtain cheap car insurance rates and still have a local agent. Buying from neighborhood agents is important particularly in Phoenix.
After completing this simple form, your insurance coverage information is submitted to local insurance agents in Phoenix who will give you quotes for your car insurance coverage. You won’t even need to find an agent on your own since price quotes are sent immediately to your email address. You can find lower rates without having to waste a lot of time. If for some reason you want to compare rates from one company in particular, feel free to find their quoting web page and complete a quote there.
If you’re trying to find a local insurance agency, you must know there are a couple different agency structures and how they can quote your rates. Agencies in Phoenix are considered either exclusive agents or independent agents.
Independent Car Insurance Agents (or Brokers)
Agents that choose to be independent do not sell for just one brand so they can quote policies with many different companies depending on which coverage is best. If your agent finds better pricing, your policy is moved internally and you stay with the same agent.
If you are comparing rate quotes, it’s recommended you get some free quotes from several independent insurance agents to have the best price comparison. Most also write with smaller mutual companies that may have much lower rates than larger companies.
Featured below are independent insurance agents in Phoenix who may provide pricing information.
- Travelers Insurance
22601 N 19th Ave #216 – Phoenix, AZ 85027 – (623) 572-0032 – View Map - Fasula Kaplan Insurance Agency
11022 N 28th Dr Suite 125 – Phoenix, AZ 85029 – (602) 564-0880 – View Map - Citywide Insurance
1529 W Thomas Rd – Phoenix, AZ 85015 – (602) 241-9200 – View Map
Exclusive Insurance Agencies
Exclusive insurance agents can only provide pricing for a single company like State Farm, Allstate, or Farmers Insurance. Exclusive agencies are unable to compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are well schooled on their company’s products and that allows them to sell at a higher price point. Consumers often use the same exclusive agent mostly because of high brand loyalty and solid financial strength.
Shown below are exclusive insurance agents in Phoenix willing to provide price quotes.
- Andra Jeffress – State Farm Insurance Agent
1704 W Bethany Home Rd – Phoenix, AZ 85015 – (602) 249-1037 – View Map - American Family Insurance – Jennifer Swenson
4731 N Central Ave – Phoenix, AZ 85012 – (602) 995-9334 – View Map - Douglas Cheung – State Farm Insurance Agent
2600 N 44th St #110 – Phoenix, AZ 85008 – (602) 840-6655 – View Map
Deciding on a auto insurance agent is decision based upon more than just the bottom line cost. Below are some questions you should ask.
- What is their Better Business Bureau rating?
- Are claim adjusters local or do you have to take your car somewhere else?
- How long have they worked with personal auto insurance coverage?
- Are they involved in claim handling?
- Do they have 24-hour customer assistance?
- Are there any extra charges for paying monthly?
- Can they give you a list of client referrals?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
Protect your BMW M2 and other assets
Despite the fact that insurance is not cheap in Phoenix, paying for insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means state laws require specific limits of liability insurance coverage in order to be legal. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your BMW M2, most lenders will require you to carry insurance to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your BMW for a lot more money and make you pay for the expensive policy.
- Insurance safeguards not only your BMW but also your assets. It will also provide coverage for many types of medical costs incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, your policy will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance are definitely more than the cost, especially if you ever need it. The average driver in America is overpaying over $750 every year so it’s important to compare rates at every renewal to help ensure money is not being wasted.
Information about specific coverages
Having a good grasp of your insurance policy can be of help when determining the right coverages for your vehicles. Policy terminology can be confusing and coverage can change by endorsement.
Collision coverage
Collision insurance covers damage to your M2 caused by collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things like sideswiping another vehicle, rolling your car and hitting a parking meter. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also bump up the deductible on your M2 to bring the cost down.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW M2.
Because many people carry very low liability coverage limits (which is 15/30/10), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally the UM/UIM limits are set the same as your liability limits.
Liability
Liability insurance can cover damages or injuries you inflict on other people or property that is your fault. This coverage protects you against claims from other people, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 15/30/10 that translate to a $15,000 limit per person for injuries, $30,000 for the entire accident, and a total limit of $10,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against things such as legal defense fees, structural damage, repair costs for stationary objects and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible. Arizona requires minimum liability limits of 15/30/10 but you should think about purchasing better liability coverage.
Comprehensive (Other than Collision)
This will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like hitting a deer, rock chips in glass, damage from a tornado or hurricane, vandalism and hail damage. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Medical expense insurance
Coverage for medical payments and/or PIP pay for immediate expenses for things like surgery, dental work, rehabilitation expenses, doctor visits and ambulance fees. The coverages can be used in conjunction with a health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is only offered in select states and gives slightly broader coverage than med pay
Don’t give up on affordable coverage
Some insurance providers may not have online rate quotes and many times these regional carriers provide coverage only through local independent agencies. Budget-friendly auto insurance in Phoenix is definitely available from both online companies and also from your neighborhood Phoenix agents, so you need to compare both so you have a total pricing picture.
When buying insurance coverage, do not skimp on critical coverages to save a buck or two. In many instances, an insured cut full coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your goal should be to purchase plenty of coverage for the lowest cost while not skimping on critical coverages.
Drivers who switch companies do it for many reasons like unfair underwriting practices, policy cancellation, lack of trust in their agent or even policy non-renewal. Regardless of your reason, choosing a new insurance company is not as difficult as it may seem.
More information is located on the following sites:
- What is Covered by GAP Insurance? (Allstate)
- Who Has Affordable Phoenix Car Insurance Quotes for a 20 Year Old Male? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Unemployed Drivers in Phoenix? (FAQ)
- How Much are Phoenix Car Insurance Quotes for Teachers? (FAQ)
- What Auto Insurance is Cheapest for Welfare Recipients in Phoenix? (FAQ)
- Child Safety FAQ (iihs.org)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)