BMW M2 Car Insurance
BMW M2 Car Insurance
Introduced in January 2016 at the North American International Auto Show, the BMW M2 is a subcompact sports coupe known for its high performance. The second generation of BMW M2 was launched in 2023 and featured a new S58 twin-turbocharged inline-six engine. The M2 comes in a standard version called the M2 Coupe and a track-focused super sporty version called the M2 Coupe CS.
With a cost of over ₹1 crore, the BMW M2 is a super-expensive sports car that requires a high-value car insurance plan to secure. A BMW M2 insurance plan from TATA AIG protects you financially by covering third-party liabilities and major risks like accidents, fire, theft, and disasters, depending on your chosen plan. Explore the available plans.
Key Highlights - BMW M2 Cars
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Recent Risks Around BMW M2 Cars & Why Insurance Is a Must in India?
- Covers Third-Party Liabilities: The minimum liability for a vehicle owner for causing an accidental death in India is ₹5 lakhs. However, compensation awarded by a court can go up to tens of lakhs or crores of rupees, making third-party car insurance necessary.
- Legal Mandate in India: Under the Motor Vehicles Act, third-party insurance cover is mandatory for every motor vehicle driven on public roads. This makes it necessary to get either a third-party or a comprehensive plan to drive your BMW car.
- Covers High Repair Costs: A BMW M2 can cost as much as ₹1.9 crores, making repair costs and spare parts quite expensive, especially if you want genuine parts. To cover repairs at an authorised service centre, a BMW M2 insurance plan is crucial.
- Theft and Vandalism Coverage: Car thefts have become more common across India and are a massive threat to owners of expensive cars. A BMW car insurance plan covers replacement for stolen cars and damage from vandalism, riots and strikes.
- Prevalence of Road Accidents: Road accidents are a leading cause of death in India, with 1.68 lakh fatalities in 2022. Since accident-related injuries and fatalities are rising, having car insurance with personal accident cover is more important than ever.
Features & Benefits of TATA AIG BMW M2 Car Insurance
- Personalised Coverage Options: Pay for only the actual distance you drive with usage-based BMW M2 car insurance. You can also customise your plan with 8+ add-ons, including Zero Depreciation, Tyre Secure and Consumable Expenses.
- Hassle-Free Cashless Repairs: We offer an extensive cashless garage network of 6301+ garages, including BMW authorised service centres and multi-brand garages. Multiple garages are located in every major Indian city for your convenience.
- Easy Instant Purchases: Buy BMW M2 insurance online in just a few steps with minimal documentation. You only need to enter your BMW car registration number and some basic details to buy car insurance online and get instant policy issuance.
- Reliable and Trustworthy Insurer: Partner with a trusted insurance provider with 25+ years of experience serving 5+ crore Indian customers. Backed by the TATA Group, we maintain our reputation with timely claim settlements and high-quality services.
- Affordable Premiums: Get the most competitive BMW M2 insurance prices for any TATA AIG plan. We also offer up to 85% discounts on online purchases, including discounts for safety devices, automobile association membership, etc.
- No Claim Bonus for Renewals: For every year of not filing claims, you can get a No Claim Bonus that lowers your cost. The NCB starts at 20% for the first claim-free year, up to 50% in five years.
- Smooth Digital Processes: We ensure quick and seamless digital processes for everything from car insurance renewals to verification and policy management. You can also initiate and track claims via multiple online channels.
- Access to Comparison Tools: Before making a purchase decision, you can compare car insurance plans using our comparison tool to view the cost breakdown and benefits. Our online calculators also let you view premium quotes and compare the cost of multiple plans.
Coverage Under BMW M2 Insurance Plans
Policy Inclusions
- Reimbursement of the BMW M2’s Insured Declared Value if your ride is stolen
- Damage from hurricanes, typhoons, hailstorms, frost, earthquakes, landslides, and other natural calamities
- Damage from vandalism, strikes, riots, terrorist acts, housebreaking, and other malicious acts
- Loss or damage from accidents caused by external means
- Third-party bodily injuries, death, property damage and legal defence expenses
- Fixed compensation up to ₹15 lakhs for the owner-driver's death or severe injuries
- Damages while your BMW car is in transit via air, road, rail and waterways
- Loss or damage from fire, self-ignition, lightning and explosions
Policy Exclusions
- Damage caused by improper use or wilful negligence
- Any damage from speed racing, crash testing and other risky activities
- Ordinary wear and tear, regular depreciation and ageing-related breakdowns
- Damage to tyres and tubes without any damage to the car
- Damage suffered while the vehicle is driven without a valid driving licence
- Loss or damage caused by war, war-like operations and nuclear perils
Add-ons for BMW M2 Car Insurance by TATA AIG
At TATA AIG, we offer 8+ car insurance add-ons allowing you to enhance your chosen plan. The full list is available on our add-on covers page. Check some useful add-ons for the BMW M2:
- No Claim Bonus Protection: The NCB Protection Cover lets you retain your accumulated bonuses after filing an own damage claim in the policy period. You must have at least 2 claim-free years.
- Loss of Personal Belongings: This add-on covers the cost of clothing and other personal-use items lost or damaged during an accident. Valuables like cash or jewellery are excluded.
- Daily Allowance Plus: With this add-on, you get either a hire car or a daily cash allowance for up to 15 days while the insured car is being repaired for an own damage claim.
- Misfuelling Cover: The Misfuelling Cover pays for cleaning and repairing the fuel system if you accidentally fill in the wrong or adulterated fuel. It also covers fuel cost up to ₹2000 per claim.
- Emergency Transport and Hotel Expenses: This add-on covers the cost of an overnight hotel stay and emergency transport to the nearest city or your residence when your BMW M2 is disabled.
How to Buy BMW M2 Car Insurance Online?
Secure Your Vehicle in Minutes
Get instant quotes and complete your purchase with a few clicks
1. Enter Car Registration Number: Scroll up to find the premium quote tool. Enter your BMW car registration number to get started.
2. Provide a Few Details: Enter the model and variant details, date of purchase, policy details and contact number.
3. Choose Your Coverage: Pick a plan from the chosen options, modify the coverage terms and include add-ons as needed.
4. Pay the Premium Amount: Check our premium quotes and, if acceptable, pay the required premium to buy a car insurance plan.
How to Download BMW M2 car Insurance Policy?
1. Go to My Policy: Find the ‘My Policy’ menu at the top right corner of the TATA AIG portal. 2. Log in to TATA AIG: Click on the ‘Login’ button and sign in to your TATA AIG account using your registered mobile number and OTP (one-time password). 3. Go to Policy Download: Navigate to the ‘Policy Download’ section, enter either your car registration number or existing policy number and confirm. 4. Save the Policy Document: Click on the download button to save a PDF copy or select the option to send policy documents to your email.
How to Raise a Claim for BMW M2 Car Insurance
How to File a Claim
1: Report the incident as soon as possible by calling the helpline (0422-6489-8282). Then, file a claim for BMW M2 insurance online via our claim portal or the TATA AIG App.
2: Upload photos and videos of your damaged BMW M2 on the link sent to your phone to complete the self-inspection process. A TATA AIG surveyor may visit your location for damage assessment.
3: For cashless claims, take your car to a network garage for repairs. If you cannot find a network garage, you can get repairs at a non-network garage and pay for it yourself. Then, you can file a reimbursement claim.
4: Collect all relevant documents, including garage repair estimates, invoices and payment receipts, FIR, etc. Submit the required documents along with evidence of damage.
5: After approval, we will either settle your bills directly with the network garage or reimburse the applicable expenses for non-network garages.
Documents Required
- Car registration certificate (RC)
- The driving licence of the person driving your BMW M2
- Proof of damage (photos and video)
- Original repair invoices and payment receipts
- Duly filled claim form
- Car insurance policy documents
- Proof of identity and address
- FIR for major damage, theft and third-party claims
- No Trace Certificate and police report for theft
- Medical bills for third-party and personal accident claims
- Court summons or notice (if applicable)
- NOC from the lender for loaned vehicles
- Additional documents as required
How Do You Calculate Your BMW M2 Car Insurance Premium?
BMW M2 insurance costs depend on a range of factors, including the car’s Insured Declared Value (IDV), registration location, chosen plan terms and add-ons. Know the cost of your chosen plan by using our car insurance calculator. This free online tool lets you estimate the premium by entering your BMW M2 registration number and a few basic details.
Here’s what you need to enter to calculate the premium:
- Car registration number
- Make and model name
- Year of manufacture
- Car insurance policy type
- Policy number and other details
- Optional add-on covers
BMW M2 Car Insurance Overview
| Name of the Variant | Ex-Showroom Price | Insured Declared Value of a New Car | Third-Party Premium Price |
|---|---|---|---|
| BMW M2 Coupe- Petrol- Automatic | ₹1,02,50,000 | ₹97,37,500 | ₹7,897/year |
| BMW M2 Coupe- Petrol- Manual | ₹1,03,55,000 | ₹98,37,250 | ₹7,897/year |
| BMW M2 CS- Petrol- Automatic | ₹1,66,00,000 | ₹1,57,70,000 | ₹7,897/year |
Disclaimer: The ex-showroom price can vary with location and time. The third-party premium rates are fixed as per IRDAI and based on the car variant’s engine capacity and fuel type.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.
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Frequently Asked Questions
1. Is the BMW M2 an expensive car to maintain?
Yes, the BMW M2 is quite expensive to maintain since it’s a luxury sports car with expensive parts and requires specially trained technicians to service. For the BMW M2 CS, the average maintenance cost is ₹58,955 per year as per the brand’s service estimator. However, it excludes wear and tear, brake pads, inflation and other factors.
2. How much is insurance for a BMW M2 driver?
BMW M2 insurance premium depends on the type of insurance policy you have chosen, the price of add-on covers, discounts and other factors. The important factors that affect the premium rates include the car’s age, registration location, owner’s claim history, etc. The third-party premium rates are fixed at ₹7,897 for all insurers by IRDAI based on its engine capacity.
3. Does the BMW M2’s performance affect insurance rates?
Your BMW M2’s performance does not directly affect its insurance premium rates. However, high-performance vehicles like the M2 have larger engine capacities, which carry higher premium rates for both third-party and own damage plans. The higher cost of high-performance vehicles and higher perceived risk also increase insurance rates.
4. Can I get discounts on my BMW M2 insurance?
Yes, you can get discounts of up to 85% on online purchases with TATA AIG. Special discounts are also available for membership in recognised automobile associations, installation of ARAI-approved anti-theft devices, vehicle modifications for disability, and certified vintage cars. Our No Claim Bonus also provides discounts upon renewals.
5. What should I consider to choose the best insurance for a BMW M2?
First, find out the right type of car insurance for your driving needs and risks. Then, compare your options based on their features, benefits and costs to determine the best value for money plan. Before selecting a plan, evaluate your options based on network coverage, policy inclusions and exclusions, add-on availability, and discounts and bonuses.
6. Does the BMW M2’s safety rating affect its insurance costs?
Yes, a vehicle’s safety rating affects its perceived risk for insurers, thus affecting its insurance costs. Vehicles with more sophisticated safety systems and a more durable build are considered less risky, lowering costs. However, not all insurance companies have the same safety metrics for determining their premium rates. Adding certified safety systems like anti-theft alarms and vehicle immobilisers may lower your insurance costs.
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