Truthfully, the best way to find low-cost prices for car insurance rates in Charlotte is to do a yearly price comparison from companies who provide car insurance in North Carolina. This can be done by following these steps.
First, read about how insurance companies determine prices and the measures you can control to prevent high rates. Many rating factors that are responsible for high rates such as careless driving and poor credit history can be controlled by paying attention to minor details.
Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or State Farm, while agents who are independent can give you price quotes from many different companies. View insurance agents
Third, compare the quotes to your existing coverage and determine if there is any savings. If you find a lower rate, make sure coverage does not lapse between policies.
The key aspect of shopping around is to use similar limits and deductibles on each quote and and to get rate quotes from as many different companies as possible. This provides a level playing field and the best price quote selection.
Smart shoppers know that car insurance companies don’t want policyholders to shop around. Insureds who compare other rates will, in all likelihood, move their business because they have a good chance of finding a more affordable policy. Surprisingly, a recent survey revealed that people who shopped around annually saved approximately $72 a month compared to those who never compared prices.
If finding budget-friendly BMW M6 insurance in Charlotte is your objective, then having some insight into how to get price quotes and compare coverages can save money and time.
Getting a cheap price on BMW M6 insurance can be quick and easy. All you need to do is take time comparing rate quotes to find the company with the cheapest BMW M6 rate quotes.
The providers in the list below are our best choices to provide price comparisons in North Carolina. To locate cheap car insurance in Charlotte, NC, we suggest you click on several of them to find the most competitive auto insurance rates.
Get cheaper BMW M6 insurance rates in Charlotte
Buying car insurance is not cheap, but you can get discounts that could drop your premiums quite a bit. A few discounts will automatically apply at the time of purchase, but once in a while a discount must be requested specifically before being credited. If they aren’t giving you every credit possible, you could be paying more than you need to.
- Payment Method – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- Multiple Policy Discount – If you have multiple policies and insure them with the same company you could get a discount of 10% to 20% off each policy.
- Student in College – Youth drivers who live away from home to go to college and won’t have access to an insured vehicle can receive lower rates.
- Home Ownership Discount – Just being a homeowner can save a few bucks because owning a home requires a higher level of personal finance.
- No Claims – Good drivers with no accidents can earn big discounts as compared to insureds who have frequent claims or accidents.
- Seat Belts Save more than Lives – Requiring all passengers to buckle their seat belts can save a little off the PIP or medical payment premium.
- Passenger Safety Discount – Vehicles equipped with air bags or motorized seat belts can get savings of more than 20%.
- Braking Control Discount – Cars with ABS braking systems or traction control are much safer to drive and the ABS can save up to 10%.
- Low Mileage Discounts – Driving fewer miles can earn better car insurance rates on cars that stay parked.
One thing to note about discounts is that most credits do not apply to all coverage premiums. A few only apply to individual premiums such as physical damage coverage or medical payments. Even though it appears it’s possible to get free car insurance, that’s just not realistic.
The chart below shows the difference between BMW M6 insurance costs with and without discounts applied to the premium. The costs are based on a female driver, no claims, a clean driving record, North Carolina state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, multi-policy, marriage, safe-driver, and claim-free discounts applied.
Popular car insurance companies and a selection of discounts are:
- State Farm policyholders can earn discounts including good student, safe vehicle, good driver, Steer Clear safe driver discount, accident-free, defensive driving training, and passive restraint.
- GEICO offers premium reductions for air bags, daytime running lights, emergency military deployment, multi-policy, five-year accident-free, membership and employees, and federal employee.
- SAFECO has discounts for safe driver, homeowner, anti-theft, bundle discounts, and teen safe driver.
- Farmers Insurance includes discounts for multi-car, teen driver, homeowner, pay in full, good student, and switch companies.
- AAA may include discounts for good driver, anti-theft, pay-in-full, education and occupation, AAA membership discount, and multi-car.
- USAA offers discounts including multi-vehicle, annual mileage, safe driver, new vehicle, driver training, and military installation.
Double check with each company what discounts are available to you. Some of the discounts discussed earlier might not apply in your area.
Car insurance statistics for a BMW M6
The information displayed below outlines estimates of insurance prices for BMW M6 models. Learning more about how insurance quotes are figured is important for you to make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $330 | $770 | $216 | $12 | $64 | $1,392 | $116 |
| M6 2-Dr Convertible | $354 | $714 | $318 | $18 | $96 | $1,500 | $125 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Premium costs do not factor in specific zip code location which can modify insurance rates substantially.
Where to set your deductibles
One common question asked by Charlotte drivers is how high or low should comp and collision deductibles be. The rates below sum up the price difference of buying low and high insurance deductibles. The first pricing table uses a $100 deductible for comp and collision and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $380 | $938 | $212 | $12 | $64 | $1,631 | $136 |
| M6 2-Dr Convertible | $408 | $870 | $312 | $18 | $94 | $1,727 | $144 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M6 2-Dr Coupe | $210 | $494 | $212 | $12 | $64 | $992 | $83 |
| M6 2-Dr Convertible | $226 | $458 | $312 | $18 | $94 | $1,108 | $92 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in specific location information which can revise coverage prices greatly.
Based on these figures, using a $100 deductible could cost the average driver approximately $52 more each month or $624 for a full year than requesting the higher $1,000 deductible. Because you would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 17 months between claims, you would save money if you choose the higher deductible.
Does it make sense to buy full coverage?
The example below shows the difference between BMW M6 insurance costs when comparing full coverage to state minimum liability only. The rates are based on no tickets, no at-fault accidents, $500 deductibles, drivers are single, and no policy discounts are applied.
When to stop buying physical damage coverage
There is no set guideline to delete full coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your BMW M6 replacement cost is $4,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after you pay the deductible. If you are currently paying more than $300 annually to have full coverage, then you might want to consider buying only liability coverage.
There are some situations where only buying liability is not a good idea. If you still owe money on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Do I need an insurance agent?
Some consumers just want to talk to a local agent and that is a personal choice. Good agents can help you choose the best coverages and help in the event of a claim. The biggest benefit of comparing insurance online is that drivers can save money and get the lowest rates and also buy local.
Upon completion of this short form, your insurance coverage information is instantly submitted to companies in Charlotte who will gladly provide quotes for your insurance coverage. It makes it easy because there is no need to visit any agencies because quoted prices will be sent directly to your email. In the event you want to get a rate quote from a specific company, you would need to navigate to their website and fill out the quote form the provide.
Deciding on an provider should depend on more than just the quoted price. The answers to these questions are important, too.
- Is auto insurance their primary focus in Charlotte?
- What is the financial rating for the quoted company?
- If independent agents, which companies do they recommend?
- Does the quote include credit and driving reports?
- How long have they been in business?
Types of auto insurance agents in Charlotte
If you would like to find a local Charlotte insurance agency, it can be helpful to understand the different types of agencies to choose from. Insurance policy providers can be described as either exclusive or independent (non-exclusive). Either type can insure your vehicles properly, but it’s worth mentioning why they differ since it could factor into the type of agent you choose.
Exclusive Insurance Agents
Exclusive agents can only write with one company like Allstate, Farmers Insurance, State Farm, and AAA. They are unable to compare rates from other companies so they are skilled at selling on more than just price. These agents are very knowledgeable on the products they sell and that can be a competitive advantage. Many people use the same agent mostly because of the prominence of the brand rather than having low rates.
Below are exclusive insurance agents in Charlotte who may provide you with comparison quotes.
- George Pettice – State Farm Insurance Agent
820 Tyvola Rd #103 – Charlotte, NC 28217 – (704) 523-1717 – View Map - AAA Carolinas
6600 A A A Dr – Charlotte, NC 28212 – (704) 569-3600 – View Map - Juan Rubio – State Farm Insurance Agent
9401 Statesville Rd Ste E – Charlotte, NC 28269 – (704) 509-5854 – View Map
Independent Agents
Agents that choose to be independent are normally appointed by many insurers and that is an advantage because they can write policies with any number of different companies and get the cheapest rates. If you are not satisfied with one company, your agent can just switch to a different company and you stay with the same agent.
When comparing rates, we recommend you contact independent agents to get the most accurate price comparison. Many independent agencies also insure through additional companies that you may not be familiar with which may have better rates.
Listed below is a short list of independent agents in Charlotte that can give you rate quotes.
- Nationwide Insurance – William Laurie Agency
8820 University E Dr Ste B – Charlotte, NC 28213 – (704) 945-2331 – View Map - Pegram Insurance Agency
9010 Glenwater Dr #103 – Charlotte, NC 28262 – (704) 494-9495 – View Map - Honeycutt Insurance Agency
3121 Springbank Ln F – Charlotte, NC 28226 – (704) 752-8233 – View Map
After receiving positive responses to these questions and an affordable coverage quote, you’ve probably found an insurance agent that is reputable and can adequately provide insurance.
How to know if you need help
When it comes to buying the right insurance coverage, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that may help highlight whether you may require specific advice.
- Should I file a claim if it’s only slightly more than my deductible?
- Do I need motorclub coverage?
- Will damage be repaired with OEM parts?
- Can I afford to buy a different vehicle if my BMW M6 is totaled?
- What happens if I owe more than my BMW M6 is worth?
- Is my custom paint covered by insurance?
- Are all vehicle passengers covered by medical payments coverage?
- Am I covered if I drive in a foreign country?
If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form. It is quick, free and you can get the answers you need.
Components of Your BMW M6 Insurance Rates
Many things are used in the calculation when you quote your car insurance policy. Some are obvious like a motor vehicle report, but others are not as apparent like where you live and annual miles driven. An important part of buying insurance is that you know some of the elements that aid in calculating the level of your policy premiums. When you know what positively or negatively controls the rates you pay, this helps enable you to make changes that may reward you with lower car insurance prices.
- Raise coverage deductibles and save – Insurance for physical damage to your car, also known as collision and other-than-collision, covers your vehicle from damage. Examples of covered claims are colliding with a building, flood damage, and rolling your vehicle. Your deductibles define the amount you are required to pay before your car insurance pays a claim. The higher the amount you are required to pay out-of-pocket, the less your car insurance will be.
- Pay less with a high crash test rating – Safer cars tend to have lower insurance rates. Safe vehicles reduce injuries and reduced instances of injuries translates into fewer and smaller insurance claims and lower rates for you. If your BMW M6 is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
- Allowing your coverage to lapse raises prices – Driving without insurance coverage in place is a misdemeanor and as a result your rates will increase for letting your insurance expire. Not only will you pay higher rates, being ticketed for driving with no insurance can result in fines or a revoked license. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the North Carolina DMV.
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The type of car you drive affects your premiums – The performance level of the car, truck or SUV you own makes a significant difference in determining your rates. Economy passenger models usually are quite affordable to insure, but there are many factors that impact the final cost.
The following chart uses these assumptions: single male driver age 40, full coverage with $100 deductibles, and no discounts or violations. The data compares BMW M6 car insurance rates compared to other models that have a range of performances.
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With age comes responsibility – More experienced drivers tend to be more responsible, file fewer claims, and tend to be get fewer driving tickets. Drivers with little experience are statistically proven to be inattentive and easily distracted in a vehicle so they pay higher car insurance rates.
The next chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
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Battle of the sexes – Over time, data shows that females tend to be a little less risky than males. However, don’t assume that women are better drivers. Females and males are responsible for at-fault accidents in similar percentages, but males tend to have higher claims. Men also tend to get higher numbers of serious violations such as DWI and reckless driving. Teenage male drivers have the highest risk to insure so it costs more to insure them.
The example below shows the difference between BMW M6 premium costs for male and female drivers. The price estimates are based on no claims, a clean driving record, full coverage, $250 deductibles, drivers are single, and no discounts are applied.
- Drivers with excellent credit save on car insurance – An insured’s credit history can be an important factor in calculating your car insurance rates. Drivers with very high credit ratings tend to be more responsible and file fewer claims than drivers who have worse credit. So if your credit score could use some work, you could potentially save money when insuring your BMW M6 if you clean up your credit.
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Claims statistics for a BMW M6 – Insurance companies analyze historical claim data when they calculate premium rates for each model. Vehicles that the statistics show to have increased losses will have increased rates.
The next table shows the compiled insurance loss statistics for BMW M6 vehicles. For each policy coverage, the claim amount for all vehicles compiled together is equal to 100. Numbers shown that are under 100 indicate a favorable loss history, while percentage values above 100 indicate frequent claims or tendency to have larger claims.
Insurance Loss Ratings for BMW M6 Vehicles Specific BMW Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW M6 2dr 387 339 BMW M6 4dr 288 439 BMW M6 Convertible 349 512 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance is not optional but you don’t have to overpay
Despite the high cost of buying insurance for a BMW M6 in Charlotte, maintaining insurance is required for several reasons.
- The majority of states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability 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.
- If your vehicle has a loan, almost all lenders will make it a condition of the loan that you have full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank may insure your BMW at a significantly higher premium and force you to pay much more than you were paying before.
- Insurance safeguards both your vehicle and your personal assets. Insurance will also pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance more than offset the price you pay, especially for larger claims. Unknowingly, the average driver is overpaying over $825 a year so you should quote and compare rates each time the policy renews to make sure the price is not too high.
More effort can pay off
Consumers leave their current company for a variety of reasons including extreme rates for teen drivers, denial of a claim, delays in paying claims and not issuing a premium refund. Regardless of your reason for switching companies, switching insurance companies can be easier than you think.
Affordable BMW M6 insurance in Charlotte can be bought online and with local Charlotte insurance agents, so get free Charlotte auto insurance quotes from both of them to get a complete price analysis. A few companies do not provide online quoting and usually these regional carriers only sell coverage through independent insurance agents.
We just presented quite a bit of information on how to find cheaper BMW M6 insurance in Charlotte. The key concept to understand is the more rate quotes you have, the higher the chance of saving money. You may even discover the lowest car insurance rates are with a smaller regional carrier.
More information is located at the links below
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Affordable Car Insurance Quotes for Used Cars in Charlotte? (FAQ)
- What Insurance is Cheapest for a Hyundai Elantra in Charlotte? (FAQ)
- What Auto Insurance is Cheapest for a Learners Permit in Charlotte? (FAQ)
- How Much are Car Insurance Quotes for a Toyota Corolla in Charlotte? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Toyota Tundra in Charlotte? (FAQ)
- Who Has the Cheapest Car Insurance Rates for a Jeep Grand Cherokee in Charlotte? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Parking Tips to Reduce Door Dings (State Farm)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)