Compare 1995 BMW 5 Series Insurance Quotes

Having to pay for overpriced BMW 5 Series insurance can diminish your family’s budget and make it hard to pay other bills. Comparing rates annually can lower your rates and help to slash your bill and have more diposable income.

Big-name insurance companies like Geico, 21st Century and Progressive constantly bombard you with ad campaigns and it is difficult to ignore the promise of big savings and effectively compare rates to find the best deal.

If you currently have a car insurance policy, you stand a good chance to be able to save some money using these methods. Buying car insurance is easy if you know what you’re doing. But car owners can benefit from knowing the methods companies use to market insurance on the web.

How your 5 Series insurance premiums are determined

Part of the car insurance buying process is learning a few of the rating criteria that go into determining the rates you pay for car insurance. If you have a feel for what impacts premium levels, this enables informed choices that can help you get big savings.

The items below are some of the most common factors that factor into prices.

• Where you reside plays a part – Choosing to live in less populated areas is a good thing if you are looking for the lowest rates. Less people living in that area corresponds to lower accident rates and also fewer theft and vandalism claims. People who live in big cities have more road rage incidents and much longer commute distances. The longer drive time translates into higher accident risk.
• Annual mileage impacts rates – The higher the mileage driven each year the more you’ll pay to insure it. Almost all companies price each vehicle’s coverage based upon how the vehicle is primarily used. Autos not used for work or commuting can be on a lower rate level compared to those used for work or business. It’s a good idea to make sure your vehicle rating shows the right rating data. An incorrectly rated 5 Series is just wasting money.
• Gender impacts rates – Statistics have proven females are less aggressive when driving. Now that doesn’t mean women are BETTER drivers than men. Females and males are in accidents at about the same rate, but the males cause more damage and cost insurance companies more money. Not only are claims higher, but men have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Young males cause the most accidents and therefore pay the highest rates.
• Lower rates with a multi-policy discount – Most companies will give lower prices to policyholders who buy several policies from them in the form of a multi-policy discount. Even though this discount sounds good, you still need to compare other insurance prices to verify if the discount is saving money. You may still find better rates by insuring with multiple companies.
• Protect yourself with liability insurance – Liability insurance kicks in if you are found liable for an accident. It provides legal defense to defend your case. It is affordable coverage compared to comp and collision, so buy as much as you can afford.
• Drivers with excellent credit save – Having a bad credit score is a big factor in determining what you pay. If your credit rating is lower than you’d like, you could pay less to insure your 1995 BMW 5 Series by repairing your credit. Insureds that have excellent credit tend to be less risk to insure than those with poor credit scores.
• Tickets and citations cost more than a fine – Even a single citation may cause rates to rise forty percent or more. Drivers who don’t get tickets tend to pay less for car insurance as compared to those with violations. Drivers who have received license-revoking tickets such as reckless driving or DUI may face state-mandated requirements to submit a SR-22 form with their state DMV in order to prevent their license from being revoked.
• Your spouse saves you money – Your spouse may earn you lower rates on car insurance. It is viewed as being more stable financially and insurance companies like that married drivers tend to have fewer serious accidents.

How to lower your insurance cost

There are several ways to shop for insurance, but some are easier and takes less work. You could waste a few hours talking to local insurance agents in your area, or you could save time and use the internet to get rates in a matter of minutes.

Many insurance companies are enrolled in a marketplace where insurance shoppers enter their coverage request one time, and each participating company then returns a price quote for coverage. This prevents consumers from doing quote forms for each company you want a rate for.

To compare rates using this form now click here to start a free quote.

The single downside to pricing coverage this way is that consumers can’t choose the companies to receive prices from. So if you prefer to pick individual companies to compare prices, we have a listing of low cost insurance companies in your area. Click here to view list.

You can choose any of those ways to find more affodable coverage, but be sure to compare the same quote information for every quote you compare. If you compare different coverage information it’s impossible to decipher which rate is best. Having just a slight variation in coverage limits could skew the results. And when comparison shopping, making a lot of price comparisons increases your odds of finding the best offered rates. Not every company provides online price quotes, so you need to compare prices from them, too.

Double check you’re getting with these discounts

Auto insurance companies don’t necessarily list the entire discount list very well, so we took the time to find some of the more common as well as some of the hidden insurance coverage savings. If you’re not getting every credit you deserve, you are throwing money away.

• Employee of Federal Government – Active or former government employment may qualify for a discount when you quote car insurance for 5 Series insurance but check with your company.
• Organization Discounts – Joining qualifying employment or professional organizations can get you a small discount on your next insurance coverage statement.
• Multiple Vehicles – Drivers who insure more than one vehicle on a single policy could earn a price break for each car.
• Theft Prevention System – Cars that have factory anti-theft systems prevent vehicle theft and will qualify for a discount on a car insurance quote.
• Multiple Policy Discount – If you can combine your homeowners and auto policy and insure them with the same company you could earn a discount of up to 20% and get you low cost car insurance.
• Switch and Save Discount – A few larger companies allow discounts for renewing your policy prior to your current policy expiring. This discount can save up to 10%.
• Defensive Driver – Passing a course teaching safe driver skills could cut 5% off your bill if your company offers it.
• Fewer Miles Equal More Savings – Fewer annual miles on your BMW could be rewarded with lower insurance coveragerates on the low mileage vehicles.
• Pay Upfront and Save – By paying your entire bill at once rather than paying monthly you may have a lower total premium amount.
• Accident-Free Discounts – Insureds with no claims or accidents get the best insurance coverage rates in comparison with frequent claim filers.

Keep in mind that most credits do not apply the the whole policy. Most only reduce individual premiums such as collision or personal injury protection. Despite the appearance that you could get a free insurance coverage policy, insurance companies wouldn’t stay in business. But all discounts will bring down your policy premium.

If you would like to view companies who offer insurance coverage discounts, follow this link.

Your situation helps dictate your coverage

When choosing adequate coverage, there is no “best” method to buy coverage. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions can aid in determining whether your personal situation might need an agent’s assistance.

• If my 1995 BMW 5 Series is totaled, can I afford another vehicle?
• Am I covered if I hit my neighbor’s mailbox?
• Can I get a multi-policy discount?
• Do I get a pro-rated refund if I cancel my policy early?
• Which is better, split liability limits or combined limits?
• Why do I only qualify for high-risk insurance?
• What is the ISO rating for a 1995 BMW 5 Series?
• Is my camper covered by my car insurance policy?

If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Car insurance 101

Knowing the specifics of a insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverage types found on the average insurance policy.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like X-ray expenses, chiropractic care, surgery and pain medications. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover both the driver and occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage provides protection when other motorists do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your 1995 BMW 5 Series.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision coverage

Collision coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims like colliding with another moving vehicle, sideswiping another vehicle, backing into a parked car and hitting a parking meter. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible to bring the cost down.

Coverage for liability

This will cover damages or injuries you inflict on people or other property by causing an accident. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things such as repair bills for other people’s vehicles, emergency aid and medical expenses. How much coverage you buy is a personal decision, but consider buying as much as you can afford.

Comprehensive auto coverage

This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like vandalism, damage from a tornado or hurricane and rock chips in glass. The maximum amount a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Make an honest buck

We just covered a lot of information how to save on 1995 BMW 5 Series insurance. The key concept to understand is the more quotes you get, the better your chances of lowering your prices. You may be surprised to find that the best premium rates are with the smaller companies. They may only write in your state and offer lower prices than the large multi-state companies such as Allstate and Progressive.

When searching for cheap car insurance quotes, it’s very important that you do not reduce needed coverages to save money. In many cases, an accident victim reduced collision coverage only to find out that it was a big mistake. The goal is to get the best coverage possible at an affordable rate.

For more information, link through to the articles below:

• Neck Injury FAQ (iihs.org)
• Comprehensive Coverage (Liberty Mutual)
• Air Bags: Potential Dangers to Your Children (Insurance Information Insitute)
• Choosing an Insurance Company (Insurance Information Insitute)
• Insuring a Leased Car (Insurance Information Insitute)