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If you’re considering purchasing a BMW 3 Series sedan, it’s important to factor in ownership costs, including the cost of insurance. BMW 3 Series insurance costs may vary depending on what state you live in and what company you purchase a policy from.
BMW 3 Series Basics
As Compare Auto Insurance notes, BMW introduced the 3 Series in 1975. The manufacturer intended the 3 Series to serve as a more fuel-efficient luxury vehicle than other luxury cars on the market. As BMW’s best-selling vehicle, the 3 Series is popular with drivers and auto industry experts alike. In 2006, the 3 Series was named “World Car of The Year” at the New York Auto Show. It also earned a spot on the 10Best list from 1992 to 2014.
Compare Auto Insurance points out that the 3 Series gives drivers several options to choose from. The standard model is available in the following trims:
Drivers who opt for the sportier M3 version can choose from three trims:
The standard models come equipped with a 328i engine capable of producing 230 horsepower. With the 328i under its hood, the 3 Series has a 28-mpg highway rating. If you go with the Sedan, Coupe, or Convertible, you can upgrade to a 300-horsepower 335i engine that also achieves a highway rating of 28 miles per gallon.
M3 models feature a 4.0-liter V-8 engine that produces 414 horsepower and has a 20-mpg highway rating. The starting price for a 3 Series sedan is $33,650, while the M3 Sedan starts at $55,400. If you’re willing to pay for more extra power, go with the M3. However, the standard model should satisfy your everyday driving needs quite nicely.
The 3 Series comes equipped with many safety features, which may help you get a discount on your insurance. These features include:
- Stability Control
- Run-Flat Tires
- Anti-Lock Brakes
- Front and Side-Curtain Air Bags
Finder notes that BMW offers a 50,000-mile or four-year bumper-to-bumper warranty covering routine maintenance, major repairs, and roadside assistance. This coverage gives BMW owners an advantage because most manufacturers don’t include regular maintenance or roadside assistance in their warranties. When you factor in the warranty and the 3 Series’ resale value, you’ll see that cost of ownership is lower than other luxury vehicles.
Drivers have the option of purchasing an extended warranty ranging from five to seven years. An extended BMW warranty covers BMW-certified services, OEM part replacement, and towing in the event of a mechanical breakdown. The BMW Ultimate Care plan is also available on several eligible 3 Series models. Under the Ultimate Care plan, your 3 Series will receive complimentary maintenance for three years or 36,000 miles.
As Allstate notes, the BMW 3 Series doesn’t just offer several money-saving safety features; it also has some impressive safety ratings. The BMW 3 Series’ 2019 federal government crash test ratings are as follows:
- Overall Rating: Five Stars
- Frontal Crash: Four Stars
- Side Crash: Five Stars
- Roll0ver: Five Stars
Finder points out that, despite being in production since 1975, there have been very few recalls in its history. These include:
- 1998-2006: BMW models featuring the Takata Airbag were recalled due to a malfunction that caused the air bag to fail to deploy or spray metal fragments when it did deploy.
- 2012-2014: Some 3 Series models had improperly lubricated vacuum pumps, causing failures in brake power assistance.
- 2012-2015: Some 3 Series models had faulty software that prevented the vehicle’s side marker lights from working when the parking lights or headlights were in use.
BMW 3 Series Car Insurance
When shopping around for insurance for your BMW 3 Series, there are a few things to consider that can help you save money. Finder suggests that you factor in the following:
- Price – When you obtain quotes from different providers, be sure to give every provider the same information. That way, you’ll get a more accurate price comparison.
- Deductible – Car insurance companies tend to offer lower rates to customers who choose to pay a higher deductible. Just make sure that you can afford to pay more out of pocket if you have to file a claim.
- Minimum Coverage – Make sure that your insurance policy meets your state’s minimum coverage requirements.
- Additional Coverage – Your state’s minimum coverage requirements may not be enough to cover your costs if you’re in an accident and the other driver is uninsured or you’re severely injured. Consider adding additional coverage such as personal injury protection and uninsured motorist coverage.
- Extras – You can save money by going with an insurance company that provides perks like accident forgiveness or a vanishing deductible.
- Restrictions – To avoid a denied claim or a gap in coverage, make sure that there aren’t any restrictions or limitations included in your insurance policy.
- Loyalty Discount – Check with your BMW dealership to see if you qualify for a loyalty discount if you purchase a policy from a specific company.
- Warranty Coverage – You can avoid paying for overlapping coverage by comparing your manufacturer warranty to your insurance policy.
Finder also notes that, while insurance companies factor in your age, gender, and where you live to calculate your rates, they also consider what kind of vehicle you drive. Here are the BMW 3 Series characteristics that could affect your rates:
- Body Type – As a four-door sedan, the 3 Series is typically used for family transportation and commuting. Insurance companies consider this use low-risk.
- Vehicle Type – Like all models in the BMW lineup the 3 Series falls under the luxury performance classification, a designation that could cause a rate increase.
- Theft – When it comes to frequently stolen vehicles, four-door sedans top the list, making them a risk for insurers.
- Repairs – Parts and maintenance for BMW vehicles tend to cost more than service for other brands, another factor that can trigger an increase in insurance rates.
- Safety Ratings – The IIHS named the 2018 BMW 3 Series a top safety pick and the vehicle consistently earns excellent crash ratings, which could earn you a discount.
According to SmartFinancial, these are the rates that the leading insurance providers charge for a 12-month premium for a 2021 3 Series 330i model:
- Direct Auto – $712
- California Capital- $1700
- Farmers – $2283
- USAA – $2373
- Georgia Farm Bureau – $2472
- 21st Century – $2492
- CSAA – $2739
- Country Financial – $2828
- Auto-Owners Insurance Co – $2864
- Alliance United – $2892
Check this out if you need additional information, resources, or guidance on car insurance.
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