It’s easy to assume that auto insurance companies don’t want policyholders to shop around. Consumers who shop around for the cheapest price will probably switch auto insurance companies because there is a high probability of finding discount prices. A recent survey found that drivers who shopped around annually saved over $70 a month as compared to drivers who never shopped for cheaper rates.
If finding the most affordable insurance is the reason for your visit, then knowing the best way to quote and compare coverage rates can make the process more efficient.
The best way we recommend to get discount BMW M2 insurance in Detroit is to regularly compare quotes from providers who provide car insurance in Michigan.
- Gain an understanding of how companies price auto insurance and the factors you can control to keep rates in check. Many rating criteria that are responsible for high rates like accidents, traffic tickets, and a low credit score can be amended by being financially responsible and driving safely.
- Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from many different companies. View insurance agents
- Compare the new rate quotes to the price on your current policy to see if switching to a new carrier will save money. If you can save some money, verify that coverage does not lapse between policies.
- Provide notification to your current agent or company of your intent to cancel your current car insurance policy and submit the completed application along with a down payment to the newly selected company. Make sure you place the new certificate verifying coverage above your visor, in the console, or in the glove compartment.
One key aspect of rate comparisons is to make sure you enter identical limits and deductibles on every quote and and to compare as many car insurance companies as possible. Doing this guarantees a fair price comparison and maximum price selection.
The companies shown below have been selected to offer free rate quotes in Michigan. To find cheaper auto insurance in Detroit, MI, we recommend you compare several of them to get the lowest price.
Get cheaper rates by earning discounts
Auto insurance companies don’t necessarily list the entire discount list in a way that’s easy to find, so we took the time to find both well-publicized in addition to some of the lesser obvious credits that you can use to lower your rates.
- Multiple Policy Discount – If you insure your home and vehicles with the same insurance company you could earn a discount of up to 20% and get you low cost BMW M2 insurance.
- Multiple Cars – Purchasing coverage when you have multiple vehicles with the same company may reduce the rate for each vehicle.
- Telematics Data Discounts – People who choose to allow their insurance company to track where and when they drive by using a small device installed in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates if they show good driving skills.
- No Claims – Drivers with accident-free driving histories pay less as compared to drivers with a long claim history.
- 55 and Retired – If you qualify as a senior citizen, you may qualify for lower premium rates.
Consumers should know that most of the big mark downs will not be given to your bottom line cost. Some only reduce the cost of specific coverages such as liability and collision coverage. Despite the appearance that you could get a free insurance policy, that’s just not realistic.
A list of companies and a partial list of their discounts can be read below.
- State Farm has discounts for Steer Clear safe driver discount, anti-theft, multiple policy, passive restraint, Drive Safe & Save, safe vehicle, and driver’s education.
- Progressive may offer discounts for multi-vehicle, homeowner, continuous coverage, online signing, multi-policy, online quote discount, and good student.
- Travelers offers premium reductions for IntelliDrive, multi-car, early quote, multi-policy, student away at school, and continuous insurance.
- American Family has savings for TimeAway discount, good driver, bundled insurance, accident-free, air bags, defensive driver, and multi-vehicle.
- Liberty Mutual offers discounts for new vehicle discount, multi-car, newly retired, exclusive group savings, teen driver discount, preferred payment discount, and good student.
Before buying, ask each company or agent which discounts can lower your rates. Discounts may not be offered in Detroit. To locate companies with significant discounts in Michigan, click here.
Here’s why car insurance is not optional
Despite the high insurance cost for a BMW M2 in Detroit, paying for car insurance may be mandatory for several reasons.
- Almost all states have minimum liability requirements which means state laws require specific limits of liability insurance in order to drive the car. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your BMW M2 has a lienholder, more than likely the lender will stipulate that you have full coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender will be forced to insure your BMW at a much higher premium rate and force you to pay the higher premium.
- Insurance protects both your assets and your car. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense in the event you are sued. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.
The benefits of buying enough insurance outweigh the cost, specifically if you ever have a liability claim. But the average driver in Michigan overpays as much as $865 each year so compare rates every year to make sure the price is not too high.
It’s not one size fits all
Always remember that when buying your policy, there is no one size fits all plan. Each situation is unique.
Here are some questions about coverages that may help you determine if your insurance needs will benefit from professional help.
- Does my medical payments coverage pay my health insurance deductible?
- Is rental equipment covered for theft or damage?
- What if I owe more than I can insure my car for?
- Am I covered if I hit my neighbor’s mailbox?
- What if a claim settlement is too low?
- When do I need to add a new car to my policy?
- How high should my medical payments coverage be?
- When can I cancel my policy?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, complete this form. It is quick, free and may give you better protection.
Getting quotes from local Detroit insurance agents
A lot of people would rather sit down with an agent and there is nothing wrong with that. Experienced insurance agents are highly skilled in risk management and help submit paperwork. An additional benefit of getting free rate quotes online is you can get cheap insurance quotes and still have a local agent. Buying insurance from local insurance agents is still important in Detroit.
By using this form (opens in new window), the quote information is instantly submitted to local insurance agents who want to provide quotes for your insurance coverage. You won’t need to leave your computer because quoted prices will be sent straight to your inbox. If you wish to compare rates for a specific company, you would need to go to their quote page and fill out the quote form the provide.
Listed below are Detroit insurance companies that can give you price quotes for BMW M2 insurance in Detroit.
- Look! Insurance
11324 W Jefferson Ave # 1 – River Rouge, MI 48218 – (888) 566-5467 – View Map
- Charlotte Knight – State Farm Insurance Agent
7100 W Seven Mile Rd – Detroit, MI 48221 – (313) 340-9000 – View Map
- State Farm – Eric Huffman
3031 W Grand Blvd #568 – Detroit, MI 48202 – (313) 875-3172 – View Map
- Anthony Jackson – State Farm Insurance Agent
23221 Plymouth Rd – Detroit, MI 48239 – (313) 533-2440 – View Map
Choosing the best insurer shouldn’t rely on just the price. Some important questions to ask are:
- Can they provide you with a list of referrals?
- Will the quote change when the policy is issued?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Will the company cover a rental car if your car is getting fixed?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Do they reduce claim amounts on high mileage vehicles?
- What companies can they write with?
- Does the agent help file claims?
If you receive good answers for all questions you ask and an acceptable price quote, chances are good that you have found a company that will properly service your insurance policy.