The 2012 BMW M3 is a classy car, but may carry a higher insurance tag than you expect.

Starting at $60,000, the 2012 BMW M3 is out of the price range for most of us. But like the adage goes, “If you can afford the car, you can afford the insurance.” If you are pushing the limit of your budget just with the new car payment, you are going to want to call your insurance and get a quote to make sure that you are going to be able to pay for the insurance premium that is going to tag along.

The M3 is a high-performance vehicle that was first developed in 1986. It has a high-revving engine with 414 horsepower, and two different transmissions (a seven-speed double-clutch and a six-speed manual). The 2012 M3 is only available as a coupe or a convertible this year. The M3 sedan is not available as it is going through the process of being redesigned.

Safety Testing for the 2012 BMW M3

There was no safety testing done on the 2012 M3 by either the National Highway and Transportation Safety Administration or the Insurance Institute for Highway Safety.

The 2012 BMW M3 does have some safety equipment that is not found in other vehicles, like more airbags and headlight safety features. But most of the safety equipment found in the M3 can also be found in the newer models that many other manufacturers are putting out today.

2012 BMW M3 Safety Recalls

There are no safety recalls for this vehicle at this time.

Insurance for the 2012 BMW M3

There is no safety data to base whether the vehicle is going to protect the driver and passenger in the vehicle. However, with how many airbags that are in the M3 you are probably going to be a little bruised up, but otherwise okay.

The comprehensive and collision coverage for the vehicle is going to be on the higher side, with how much the vehicle is worth. The BMW M3 is not a super-high priced vehicle like some of the other ones we have reviewed, but it is still on the higher end of the auto price range; which makes its replacement parts more expensive.

What will help with the insurance is that it is not a large vehicle and it is not technically categorized as a sports car; both of which help to keep the liability insurance down.

Overall, the insurance on the BMW M3 for 2012 is going to be on the moderate to high side

All of us at Car Insurance Guidebook wish you a safe and Happy Halloween.

Have a Happy Halloween and Drive Safe!

Candy, costumes, and safe driving are a great combination to make every Halloween a Happy Halloween. Because Halloween has its very own set of holiday hazards to watch out for while you are out enjoying the evening, it is very important that you are extra vigilant and sober while you are driving on Halloween night.

The costumed children will thank you; their parents will thank you, and your wallet will thank you for sparing it from insane insurance costs, fines and jail time.

Don’t Drive with Halloween Masks On

I would hope that this would be a no-brainer, but you just never know with some people. So we would like to kindly remind you NOT to drive with your Halloween masks on. There are enough blind spots in your car without adding to them with a mask.

Most masks allow for minimal eyesight, so skip the mask while you’re driving and arrive safely. Besides, putting on your mask is one of the best parts of Halloween, and now you can enjoy that moment several times in the same night every time you get in and out of your vehicle.

Watch for Halloween Princess’, Zombies, and Ghosts

As darkness falls on Halloween night, the streets will come alive with little ones out in search of treats. This is the night that you need to be the most careful when you are driving through neighborhoods. These little ones have very little else on their mind other than being dressed up and what candy the next house will have.

If you are not paying attention or driving too fast, you could easily hit one of these trick-or-treaters. The aftermath of which will result in terrible guilt for the rest of your life, a huge increase in your insurance rates, and most likely jail time.

Don’t take the chance, just be careful.

Don’t Drive After Enjoying Too Many Halloween Concoctions

Drinking, costumes, and trick-or-treaters are not a good combination for a Happy Halloween. If you are going to enjoy your Halloween with a couple drinks, don’t be driving. Your reaction time to a trick-or-treater running in front of you will not be enough to prevent a tragedy.

I know that it is socially responsible for us to be putting this message out, but for me, it’s personal. My great-grandparents were killed by a drunk driver on Halloween night, so, please spare a family the pain of losing a loved one on a night that is supposed to be fun and give everyone a Happy Halloween by letting someone else drive if you have had too much.

Never settle for a claims adjuster’s first offer on the value of your vehicle.

When trying to settle on the amount of how much a vehicle is worth, never take the first offer given by a claims adjuster. They are not exactly in business to give money away, so don’t expect that this first offer is going to be fair.

First, find out how they arrived at their number. Also, be prepared with counter offers and verification (listings of the same vehicles in your area for sale) of why you are asking for the amount you are. If you feel that the adjuster is rejecting your request and verifications for unfair reasons, or they keep changing the criteria of what your verifications have to have to be valid (distance, make, year, model, etc.), ask to talk to their supervisor. If you get nowhere with that supervisor, ask to speak to the one above them.

Finally, if you still have no resolution and you aren’t getting anywhere, as long as you feel you have a reasonable amount you are asking for don’t be afraid to file a complaint with the state about the adjuster and the insurance company.

An insurance company is required by law to be on time or face penalties from the state.

Insurance companies are accountable to you to observed legal time limits.

How much forgiveness does your insurance company extend when you are late on a payment? I would imagine that, for most, the answer would be either “none at all” or “not much”.

When we are late, the insurance company cancels our insurance because they didn’t get their money in time and they no longer want to provide coverage without that money. Okay, fair enough; it’s a business and they are in it to make money, not to be a charity.

But did you know that the insurance companies are also subject to deadlines? And these deadlines are not to the government, but to you. That’s right, to you!

What Deadlines Are Insurance Companies Accountable to Me For?

When an insurance company decides to make a change to your policy, your premium or to cancel your coverage they have to send you notification of these changes. The notification has to be sent out to you within a set amount of days, so that you can prepare for the change and take action on your end if necessary.

For example, say that you live in Maryland, and your insurance company is getting ready to charge you more for your collision coverage. They are required by Maryland insurance laws that they have to send you notification of this change 45 days before it takes effect.

Of course, like with most insurance rules and regulations, the number of days that have to be given for each change to your policy does vary from state to state.

What Happens if the Insurance Company Doesn’t Give Me Enough Notice?

If an insurance company doesn’t comply with the legal timeline of notifying you of changes to your policy, most of the time nothing happens to them. This is because most insurance customers are completely in the dark about these timelines, and they don’t report the insurance companies to the Department of Insurance or the Insurance Commissioner (depending on the state). If the state doesn’t know about the infraction, they can’t investigate.

In the end, it usually takes an audit of the company by the state to catch them.

What Happens if the Insurance Company Does Get Caught?

If the state ends up catching the insurance company for not giving their clients enough notice of changes to their policies, the punishment is usually fines.

Recently, the state of Maryland fined Erie Insurance $50,000 for not giving their clients the required 45-days’ notice that their insurance premium was increasing.

On top of the fine they were handed, the Maryland Insurance Administration also ordered that they pay their clients back the extra premium they had been charged with insufficient notice, as well as 10% interest. (onlineautoinsurancenews.com)

With any of these fines, the amount and how it is handled varies from state to state. It also depends on the situation, as well as how habitual the insurance company is in violating insurance laws.

Don’t be afraid to tell the other insurance company, no, when they ask for information.

When you are in a car accident, the only entity that you are obligated to give your insurance information to is the police officer at the scene. The other person’s insurance company only needs your insurance information if you were at fault for the accident.

They need this information to know what company to send the subrogation request to, so they can get the money they paid out for their client, back. If the other driver is at fault, the insurance company doesn’t need to have this information.

If you don’t have insurance and the other person is at fault, you are in no way obligated to share that information either. They are responsible for paying the claim, if their client is at fault, whether you have insurance or not.