The recommended way to find cheaper prices for car insurance rates is to start comparing rates regularly from insurers who sell insurance in Oakland. This can be done by following these guidelines.
First, try to learn a little about how insurance companies determine prices and the measures you can control to prevent high rates. Many rating criteria that drive up the price like speeding tickets, accidents and a poor credit score can be amended by improving your driving habits or financial responsibility. Read the full article for the details to keep prices down and earn a bigger discount.
Second, get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and Allstate, while independent agents can provide rate quotes from multiple companies.
Third, compare the price quotes to your existing policy to see if switching to a new carrier will save money. If you can save money and make a switch, make sure coverage is continuous and does not lapse.
A key point to remember is to try to use similar coverage information on each quote request and and to get rates from as many companies as feasibly possible. This ensures a fair rate comparison and a complete rate analysis.
Statistics show that a large majority of insurance policyholders have bought insurance from the same company for at least the last four years, and 38% of drivers have never shopped around. Drivers in California could save nearly 35% each year by just comparing rate quotes, but they just don’t understand how easy it is to find lower-cost insurance rates.
If you have insurance now, you will be able to reduce the price you pay using the ideas covered in this article. Locating the best rates in Oakland is actually not that difficult if you follow our advice. But California car owners can benefit from knowing how big insurance companies determine what you pay and take advantage of how the system works.
To find more affordable quotes, there are a couple of ways to obtain and compare prices from all the different companies. One of the best ways to find affordable BMW M3 insurance rates is to perform an online rate comparison.
It’s so simple to compare car insurance rate quotes online takes the place of having to waste gas driving to different Oakland agent offices. The internet eliminates the need for an insurance agent unless you require the guidance of a local agency. You can, however, comparison shop your insurance online but have a local agent actually write the policy.
When comparison shopping, comparing more prices gives you a better chance of getting the best price. Not every company allows you to get rate quotes online, so it’s recommended that you also compare quotes from those companies as well.
The providers in the list below are our best choices to provide price comparisons in Oakland, CA. If you want to find cheap car insurance in California, we recommend you visit several of them in order to find the lowest rates.
Oakland insurance discounts
Insurance is easily one of your largest bills, but there are discounts available that could drop your premiums quite a bit. Certain discounts will be applied at the time of quoting, but some must be inquired about prior to receiving the credit.
- Safe Driver Discount – Insureds who avoid accidents may save up to 50% more than drivers with accidents.
- Seat Belt Usage – Buckling up and requiring all passengers to buckle up can save up to 15% on the premium charged for medical payments and/or PIP.
- Discounts for New Vehicles – Adding a new car to your policy may earn a small discount compared to insuring an older model.
- Memberships – Being in a qualifying organization could trigger savings on insurance.
- Multiple Policy Discount – If you combine your homeowners and auto policies with one company you may save 10% to 20% off each policy.
- Good Student Discount – This discount may save you up to 25%. This discount can apply up until you turn 25.
- Data Collection Discounts – Oakland drivers who agree to allow data collection to analyze driving habits by using a telematics device in their vehicle such as Snapshot from Progressive or Drivewise from Allstate might get better premium rates if they have good driving habits.
- No Claims – Good drivers with no accidents get the best insurance rates when compared with drivers with a long claim history.
Don’t be surprised that some credits don’t apply to the overall cost of the policy. Most only reduce individual premiums such as comprehensive or collision. Despite the fact that it seems like adding up those discounts means a free policy, it doesn’t quite work that way.
The chart below compares BMW M3 car insurance rates with and without discounts applied. The premiums are based on a male driver, no tickets, no at-fault accidents, California state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, marriage, homeowner, and safe-driver discounts applied.
If you would like to view insurers that offer the discounts shown above in Oakland, follow this link.
Rate information and statistics
The price information displayed below outlines detailed analysis of prices for BMW M3 models. Learning more about how auto insurance premiums are calculated is important for making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|M3 4-Dr Sedan||$406||$866||$464||$28||$138||$1,902||$159|
|M3 CI 2-Dr Coupe||$444||$966||$464||$28||$138||$2,040||$170|
|M3 2-Dr Convertible||$444||$966||$464||$28||$138||$2,040||$170|
|Get Your Own Custom Quote Go|
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Table data does not factor in Oakland location which can modify coverage rates noticeably.
The diagram below shows how different deductible levels and can raise or lower BMW M3 insurance premiums for different age groups of insureds. The premium estimates are based on a married male driver, full coverage, and no other discounts are factored in.
Impact of speeding/accidents on car insurance rates
The example below highlights how speeding tickets and fender-benders influence BMW M3 insurance costs for different age groups. The premium estimates are based on a married female driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
Difference between liability only and full coverage rates
The example below shows the comparison of BMW M3 insurance premiums with full physical damage coverage and with liability coverage only. Data assumes a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
When to eliminate full coverage
There is no clear-cut formula for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s pretend your BMW M3 replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after paying your deductible. If you are paying more than $400 a year for your policy with full coverage, then you might want to think about dropping full coverage.
There are some conditions where buying only liability insurance is not a good plan. If you haven’t satisfied your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.
Learn How to Find Car Insurance for Less
Lots of factors are used in the calculation when you get your auto insurance bill. Some are pretty understandable such as your driving record, but other factors are less obvious such as your marital status and annual miles driven.
- Your location is a factor – Having an address in less populated areas of the country is a good thing when shopping for auto insurance. Drivers in populated areas regularly have traffic congestion and more time behind the wheel. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims.
- Do you really need the add-on coverages? – Insurance policies have a lot of additional extra coverages that may not really be needed but may not be useful. Coverage for things like coverage for rental cars, towing coverage, and Farm Bureau memberships are some examples. These may sound like a good investment when talking to your agent, but if you’ve never needed them in the past think about removing them and cutting costs.
Men drivers tend to cost more – The statistics show that females take fewer risks when driving. That doesn’t necessarily mean that women are better drivers. Females and males are in at-fault accidents at about the same rate, but the males cause more damage and cost insurance companies more money. Not only that, but men also receive more major tickets like driving under the influence (DUI). Teenage male drivers are most likely to cause an accident and therefore are the most expensive to insure.
The chart below shows the comparison of BMW M3 auto insurance rates for male and female drivers. The rate quotes are based on no claims or violations, comp and collision included, $1,000 deductibles, single status, and no discounts are taken into consideration.
- Save by driving cars with good safety ratings – Vehicles that have high safety ratings tend to be cheaper to insure. Safer cars have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims and thus lower rates. If your BMW M3 has at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.
Experienced drivers pay less – Mature drivers tend to be more responsible, are lower risk to insure, and get fewer tickets. Beginning drivers are known to be easily distracted with other occupants in the car so they pay higher car insurance rates.
The following data uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.
- Car insurance policy lapses increase prices – Driving your car without having proper coverage is illegal and as a result your rates will increase for letting your insurance lapse for non-payment. And not only will insurance be more expensive, being ticketed for driving with no insurance might get you fines or a revoked license. You will then be forced to file a SR-22 with the California motor vehicle department to get your license reinstated.
- Insurance rates for married couples – Your spouse may earn you lower rates on your car insurance bill. Having a spouse generally demonstrates drivers are more stable financially and insurance companies reward insureds because drivers who are married file infrequent claims.
Loss statistics for a BMW M3 – Insurance companies use data from past claims to help calculate premium costs. Vehicles that tend to have a trend towards higher claims will have higher rates.
The table below shows the actual insurance loss data for BMW M3 vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, is set at 100. Numbers shown that are under 100 suggest a positive loss record, while percentage values above 100 indicate frequent claims or an increased chance of larger losses than average.
Insurance Loss Ratings for BMW M3 Vehicles Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW M3 4dr 302 186BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Local Oakland insurance agents
Many drivers still like to sit down with an agent and that is OK! One of the benefits of comparing insurance prices online is you can get lower rates and still buy from a local agent. And buying from local insurance agencies is still important in Oakland.
To make it easy to find an agent, after completing this quick form, your insurance data gets sent to local insurance agents in Oakland that provide free Oakland car insurance quotes for your coverage. You never need to visit any agencies as quotes are delivered immediately to your email address. It’s the lowest rates and an insurance agent to talk to. In the event you want to get a rate quote from a particular provider, you just need to jump over to their website and submit a quote form there.
If you would like to find a good insurance agency, there are two different agency structures and how they are distinctly different. Insurance agencies are classified as either independent (non-exclusive) or exclusive.
Independent Agencies or Brokers
Agents of this type do not have single company limitations so as a result can place your coverage with any number of different companies enabling the ability to shop coverage around. To move your coverage to a new company, they can switch companies in-house and the insured can keep the same agent.
When comparing rates, you absolutely need to include independent agents for maximum quote selection.
The following is a short list of independent insurance agencies in Oakland that may be able to provide free rate quotes.
Exclusive agencies can only provide one company’s prices and examples are AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agents cannot provide other company’s prices so they have to upsell other benefits. They receive extensive training on their products and sales techniques and that allows them to sell at a higher price point.
Shown below are exclusive insurance agencies in Oakland that are able to give rate quotes.
Finding the right car insurance agent requires more thought than just the premium amount. Any good agent in Oakland should know the answers to these questions.
- Can they provide you with a list of referrals?
- Is working in the agency their full-time job?
- Which insurance companies are they affiliated with?
- How often do they review coverages?
- Will the quote change when the policy is issued?
Insurance agents can help
Always remember that when buying insurance from an agent or online for your personal vehicles, there is no one-size-fits-all type of policy. Every situation is different so your insurance needs to address that.
These are some specific questions can aid in determining whether you could use an agent’s help.
- Is my vehicle covered by my employer’s policy when using it for work?
- Are combined or split liability limits better?
- Does my BMW M3 need full coverage?
- Am I covered if I crash into my own garage door?
- Is a blown tire covered by insurance?
- Is my nanny covered when transporting my kids?
If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier
What is the best auto insurance company in California?
Buying coverage from a good quality insurance company is hard considering how many choices there are in California. The ranking data in the lists below could help you pick which coverage providers to look at purchasing coverage from.
Top 10 Oakland Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- AAA of Southern California
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Top 10 Oakland Car Insurance Companies Ranked by Claims Service
- AAA of Southern California
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
Affordable car insurance premiums are out there
Budget-conscious BMW M3 insurance can be sourced from both online companies in addition to many Oakland insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who don’t offer rate quotes online and usually these regional carriers only sell coverage through independent insurance agencies.
We’ve covered a lot of techniques to reduce BMW M3 insurance rates online in Oakland. The most important thing to understand is the more price quotes you have, the better your comparison will be. You may even find the best rates are with some of the smallest insurance companies. These companies may cover specific market segments cheaper than the large multi-state companies such as Allstate and Progressive.
- Bodily Injury Coverage (Liberty Mutual)
- Who Has Cheap Oakland Auto Insurance for Drivers Under 21? (FAQ)
- How Much is Car Insurance for Drivers with Accidents in Oakland? (FAQ)
- How Much is Auto Insurance for a Toyota Tacoma in Oakland? (FAQ)
- How Much is Auto Insurance for 4×4 Vehicles in Oakland? (FAQ)
- How Much are Car Insurance Quotes After a Speeding Ticket in Oakland? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Things to Know Before you Cancel Insurance (Allstate)