Truthfully, the best way to find low-cost prices for BMW M2 insurance in Charlotte is to compare prices once a year from providers in North Carolina.
- First, learn about coverages and the things you can change to prevent expensive coverage. Many risk factors that cause high rates such as speeding tickets, accidents and a not-so-good credit rating can be remedied by making minor driving habit or lifestyle changes.
- Second, quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO and Allstate, while agents who are independent can provide price quotes from multiple sources. Select a company
- Third, compare the new rates to your current policy and see if there is a cheaper rate in Charlotte. If you find better rates and buy the policy, ensure coverage does not lapse between policies.
- Fourth, notify your company or agent of your intention to cancel your current policy. Submit the application along with any required down payment for your new policy. As soon as you can, store the certificate of insurance in your vehicle’s glove compartment or console.
One tip to remember is to make sure you’re comparing the same level of coverage on each price quote and and to get prices from as many companies as feasibly possible. This helps ensure a fair price comparison and the best price quote selection.
Sad but true, the vast majority of consumers have purchased from the same company for at least four years, and almost half have never taken the time to shop around. Consumers in North Carolina could save roughly 10% each year, but they don’t want to take the time to shop their coverage around.
If you have insurance now, you stand a good chance to be able to find the best rates using the tips covered below. Comparing rates for the lowest cost auto insurance policy in Charlotte is easy if you know what you’re doing. Although North Carolina consumers must learn how insurance companies set your policy premium.
To find inexpensive Charlotte car insurance quotes, there are several ways of comparing price quotes from many car insurance companies in North Carolina. The easiest way to find the lowest BMW M2 rates consists of obtaining rate quotes online. When comparing car insurance rates, know that comparing more rates from different companies helps you find a lower rate than you’re paying now. Some insurance companies are not set up to provide online rate quotes, so you need to compare rates from them as well.
The companies shown below have been selected to offer price quotes in Charlotte, NC. If your goal is to find the best auto insurance in North Carolina, we suggest you get prices from several of them in order to get a fair rate comparison.
Why do I need car insurance?
Despite the high insurance cost for a BMW M2 in Charlotte, maintaining insurance is a good idea for several reasons.
First, just about all states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability insurance coverage if you don’t want to risk a ticket. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your M2, it’s most likely the lender will force you to have physical damage coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your BMW at a more expensive rate and force you to pay the higher price.
Third, auto insurance preserves both your BMW and your assets. It also can pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability insurance will also pay to defend you if you cause an accident and are sued. If mother nature or an accident damages your car, your auto insurance policy will pay to restore your vehicle to like-new condition.
The benefits of having insurance are without a doubt worth the cost, particularly if you ever have a claim. An average driver in America is currently overpaying as much as $865 each year so compare rates at least once a year to ensure rates are inline.
Lower-cost BMW M2 insurance in Charlotte
Car insurance is easily one of your largest bills, but you may find discounts that could drop your premiums quite a bit. Some of these discounts will be visible when you purchase, but occasionally some discounts must be asked for before being credited.
- Discounts for Multiple Vehicles – Buying insurance for multiple vehicles with the same car insurance company may reduce the rate for each vehicle.
- Own a Home – Just owning your own home can earn you a little savings because it shows financial diligence.
- Anti-theft Discount – Cars equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and can earn a small discount on your policy.
- Senior Discount – Drivers over the age of 55 may be able to get better car insurance rates.
- Driver Safety – Taking time to complete a course that instructs on driving safety can save you 5% or more and also improve your driving technique.
- Safe Driver Discount – Safe drivers may save up to 50% more than drivers with accidents.
- Discount for Passive Restraints – Factory air bags and/or automatic seat belt systems can receive discounts as much as 30%.
- Full Payment Discount – If paying your policy premium upfront rather than spreading payments over time you can avoid the installment charge.
As a sidenote, some of the credits will not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, companies wouldn’t make money that way.
Insurance companies that possibly offer most of these discounts may include but are not limited to:
Before purchasing a policy, check with each company or agent which discounts you may be entitled to. Depending on the company, some discounts might not apply in every state. If you would like to choose from a list of companies that offer some of these discounts in North Carolina, click here.
Insurance agent or online?
Many people still like to buy from a licensed agent and that is recommended in a lot of cases A nice benefit of price shopping on the web is you can get lower premium rates but still work with a licensed agent. And buying from local insurance agents is important particularly in Charlotte.
To help locate an agent, after submitting this quick form, your information is emailed to insurance agents in Charlotte that can give you free Charlotte car insurance quotes for your insurance coverage. You never need to search for any insurance agencies because prices are sent immediately to you. You can find better rates without having to waste a lot of time. If you want to get a price quote from one company in particular, you can always navigate to their website to submit a rate quote request.
Choose an insurance agent wisely
If you want a reliable agent, it’s helpful to know the types of insurance agents to choose from. Agents in Charlotte can be categorized as either exclusive agents or independent agents.
Independent insurance agents can quote rates with many companies so they can insure your vehicles amongst many companies and possibly get better coverage at lower prices. If they find a lower price, an independent agent can move your coverage and you won’t have to switch agencies. When comparing auto insurance rates, you will want to get insurance quotes from at least one independent agent to get the best comparison. They also have the ability to place coverage with small mutual carriers which can be an advantage.
Below is a short list of independent insurance agents in Charlotte that may be able to give pricing information.
- Nationwide Insurance: Michael Bare Agency
2300 Sardis Rd N a – Charlotte, NC 28227 – (704) 248-8000 – View Map
- Craig and Preston Insurance Agency
2210 Coronation Blvd Suite A – Charlotte, NC 28227 – (704) 321-2900 – View Map
- Nationwide Insurance: Ed Cantey Insurance Agency Inc
5534 Albemarle Rd Ste 105 – Charlotte, NC 28212 – (704) 563-7777 – View Map
Exclusive Insurance Agents
Exclusive agents can only provide one company’s prices like Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agencies are unable to place coverage with different providers so keep that in mind. Exclusive agents are highly trained on sales techniques which helps overcome the inability to quote other rates. Drivers often buy from exclusive agents mainly due to the brand name and solid financial strength.
Listed below are Charlotte exclusive agencies who can help you get price quotes.
- Juan Rubio – State Farm Insurance Agent
9401 Statesville Rd Ste E – Charlotte, NC 28269 – (704) 509-5854 – View Map
- Joe Pomykacz – State Farm Insurance Agent
2730 E W.T. Harris Blvd #202 – Charlotte, NC 28213 – (704) 535-3700 – View Map
- Michael Pritchard – State Farm Insurance Agent
8633 Monroe Rd d – Charlotte, NC 28212 – (704) 535-2292 – View Map
Choosing an auto insurance agent requires more thought than just the price. Before buying a policy in Charlotte, get answers to these questions.
- Is the agency covered by Errors and Omissions coverage?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Is the agency active in community causes in Charlotte?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
After talking to the agent and getting good answers to these questions as well as an affordable premium quote, you may have found an auto insurance agent that is reputable and can properly insure your vehicles. Just be aware that you are entitled to cancel coverage for any reason so never assume that you are permanently stuck with a specific company for a certain time period.
Having a good grasp of a auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement.
Liability car insurance
Liability coverage protects you from damage that occurs to people or other property by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 30/60/25 which means $30,000 bodily injury coverage, a limit of $60,000 in injury protection per accident, and property damage coverage for $25,000. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.
Liability can pay for claims like attorney fees, repair costs for stationary objects, structural damage and legal defense fees. How much coverage you buy is your choice, but you should buy as much as you can afford. North Carolina requires minimum liability limits of 30/60/25 but you should consider buying more coverage.
The next chart shows why minimum state limits may not be enough coverage.
Collision coverage protection
Collision coverage will pay to fix damage to your M2 from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sideswiping another vehicle, rolling your car, hitting a mailbox and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible on your M2 to save money on collision insurance.
Coverage for medical payments
Med pay and PIP coverage kick in for bills for ambulance fees, rehabilitation expenses, nursing services, surgery and doctor visits. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not an option in every state but can be used in place of medical payments coverage
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like damage from flooding, hail damage, falling objects, theft and vandalism. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Uninsured and underinsured coverage
This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as damage to your BMW M2.
Since many North Carolina drivers have only the minimum liability required by law (30/60/25), their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Normally these coverages do not exceed the liability coverage limits.
Persistent drivers can save
We’ve covered a lot of information how to shop for BMW M2 insurance online. It’s most important to understand that the more you quote Charlotte car insurance, the higher the chance of saving money. Consumers may even find the lowest premium rates come from a company that doesn’t do a lot of advertising.
Lower-priced car insurance in Charlotte is attainable from both online companies as well as from independent agents in Charlotte, so you need to shop Charlotte car insurance with both so you have a total pricing picture. Some insurance companies do not provide online rate quotes and many times these small, regional companies prefer to sell through local independent agents.
Insureds change insurance companies for any number of reasons including extreme rates for teen drivers, not issuing a premium refund, policy non-renewal or high rates after DUI convictions. Whatever your reason, choosing a new company can be easy and end up saving you some money.
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Who Has the Cheapest Charlotte Car Insurance Rates for Handicapped Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Tacoma in Charlotte? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a 20 Year Old Female in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Jeep Wrangler in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance for a Nissan Altima in Charlotte? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Insuring a Leased Car (Insurance Information Institute)
- Keeping Children Safe in Crashes Video (iihs.org)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)