Cheap 2000 BMW 5 Series Insurance Rates

Consumers have options when looking for the best price on BMW 5 Series insurance. They can either spend hours contacting agents getting price quotes or leverage the internet to compare rates. There is a better way to shop for auto insurance so you’re going to learn the quickest way to compare rates on a BMW and get the lowest price from local insurance agents and online providers.

Take advantage of with these discounts

Car insurance is not an enjoyable expense, but you might find some hidden discounts that could drop your premiums quite a bit. A few discounts will be applied at quote time, but a few need to be manually applied prior to getting the savings.

• College Student – College-age children who are enrolled in a college that is more than 100 miles from home and do not have a car can be insured at a reduced rate.
• Include Life Insurance and Save – Insurance companies who offer life insurance give a discounted car insurance rate on car insurance if you buy life insurance.
• Defensive Driving Course – Passing a course that instructs on driving safety can save you 5% or more and easily pay for the cost of the class.
• Accident Forgiveness – but certain companies will turn a blind eye to one accident without the usual rate increase so long as you haven’t had any claims before the accident.
• Telematics Data Discounts – Drivers who elect to allow their insurance company to analyze their driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot may get a rate reduction if their driving habits are good.
• Military Deployment Discount – Having an actively deployed family member could be rewarded with lower prices.
• More Vehicles More Savings – Buying a policy with more than one vehicle with the same car insurance company can get a discount on all vehicles.

Discounts save money, but please remember that some of the credits will not apply to your bottom line cost. Most only apply to individual premiums such as liability, collision or medical payments. Even though it may seem like you could get a free car insurance policy, you won’t be that lucky. But any discount will cut your policy cost.

A few popular companies and their possible discounts can be found below.

• Progressive offers discounts for multi-policy, homeowner, online quote discount, continuous coverage, multi-vehicle, and online signing.
• The Hartford policyholders can earn discounts including air bag, defensive driver, bundle, vehicle fuel type, anti-theft, good student, and driver training.
• Mercury Insurance may include discounts for low natural disaster claims, good driver, anti-theft, accident-free, good student, and location of vehicle.
• Geico may have discounts that include defensive driver, seat belt use, multi-policy, good student, and driver training.
• AAA has discounts for good driver, good student, education and occupation, anti-theft, multi-car, and pay-in-full.
• State Farm includes discounts for student away at school, safe vehicle, anti-theft, passive restraint, accident-free, and defensive driving training.

When quoting, ask every company to give you their best rates. Depending on the company, some discounts may not be available in every state. To locate providers with the best discounts, click here to view.

How to compare car insurance quotes

There are a variety of methods you can shop for car insurance but one way is less time-consuming than others. You can spend countless hours talking to insurance companies in your area, or you can stay home and use online quoting to achieve your goal.

All the larger companies belong to a marketplace that allows shoppers to submit their information once, and at least one company then returns a price quote for coverage. This saves time by eliminating quotation requests for each company.

To enter your information into the quoting system, click to open in new window.

The only downside to pricing coverage this way is you can’t choose the companies you want pricing from. So if you prefer to pick specific providers to compare prices, we have assembled a list of low cost car insurance companies in your area. Click here for list of insurance companies.

It doesn’t matter which method you choose, just try to use apples-to-apples quote data for each comparison quote. If you are comparing differing limits it will be impossible to make a fair comparison for your BMW 5 Series.

How do insurers determine BMW 5 Series insurance prices?

Part of the car insurance buying process is learning some of the factors that help determine your policy premiums. If you understand what determines premiums, this allows you to make educated decisions that may reward you with lower rates. Many different elements are taken into consideration when you get your auto insurance bill. Some of the criteria are obvious like your driving record, but some are more obscure such as your marital status or your vehicle rating.

The factors shown below are some of the items utilized by car insurance companies to help set premiums.

• Males are more aggressive – Statistics demonstrate that females tend to be a little less risky than males. It does not mean males are worse at driving than females. Males and females are in fender benders in similar numbers, but guys cause more damage. They also receive more major tickets like driving under the influence (DUI).
• Don’t skimp on liability protection – Liability coverage kicks in if you are responsible for damages caused by your negligence. It will provide legal defense which can be incredibly expensive. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
• More traffic equals higher costs – Being located in less populated areas is a positive aspect when talking about car insurance. Drivers who live in large cities have to deal with congested traffic and longer commute times. Lower population corresponds to lower accident rates and a lower car theft rate.
• Single drivers take more risk – Having a wife or husband can actually save you money on your car insurance bill. It translates into being more financially stable and insurance companies like that drivers who are married are more cautious.
• Only buy what you need – There are a lot of extra coverages that you can buy if you aren’t diligent. Insurance for things like rental car reimbursement, better glass coverage, and extra life insurance coverage could be just wasting money. You may think they are a good idea initially, but your money might be better spent on other coverage so remove them and pocket the money.
• Save money by staying claim free – Insurance companies provide the lowest premiums to policyholders who do not file claims often. If you frequently file small claims, you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance coverage is meant to be used in the event of major claims that would cause financial hardship.
• Car insurance rates and age – Older people are shown to be more cautious, tend to file fewer claims and are safer drivers.Inexperience drivers are statistically proven to be inattentive and easily distracted when driving with friends so they pay higher car insurance rates.

Your situation helps dictate your coverage

When choosing coverage for your personal vehicles, there really is not a “best” method to buy coverage. Your needs are not the same as everyone else’s.

For example, these questions might help in determining whether you may require specific advice.

• Why am I required to buy high-risk coverage?
• Do I have coverage when using my vehicle for my home business?
• Is my 2000 BMW 5 Series covered for flood damage?
• How do I insure my teen driver?
• How can I force my company to pay a claim?
• When can I cancel my policy?
• Are split liability limits better than a combined single limit?
• Does my policy pay for OEM or aftermarket parts?
• Are rock chip repairs covered?
• Do I need PIP coverage since I have good health insurance?

If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form. It only takes a few minutes and can help protect your family.

Truth in auto insurance advertising

Consumers can’t escape the ads that promise big savings for switching from the likes of Progressive, Geico, Allstate and State Farm. They all have a common claim that drivers will save a bundle if you switch your policy.

How is it possible that every company can say the same thing?

Different companies can use profiling for the driver that is profitable for them. An example of a profitable risk profile may be over the age of 45, has a low-risk occupation, and drives less than 10,000 miles a year. Someone who fits that profile receive the lowest rate quotes and will save a lot if they switch.

Drivers who do not meet the “perfect” profile will be charged more expensive rates with the end result being business not being written. The trick is to say “people that switch” not “everyone who quotes” save that kind of money. That’s why insurance companies can advertise the way they do. Because of this risk profiling, you really need to compare rate quotes every year. It is impossible to guess which auto insurance company will provide the lowest rates.

Auto insurance coverage information

Understanding the coverages of insurance aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy.

UM/UIM Coverage – This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family.

Liability insurance – This coverage protects you from damage or injury you incur to people or other property in an accident. It protects you from claims by other people, and does not provide coverage for damage to your own property or vehicle.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 25/50/25 which means $25,000 bodily injury coverage, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers things such as medical expenses, pain and suffering, repair costs for stationary objects and loss of income. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford.

Comprehensive or Other Than Collision – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as damage from flooding, hitting a deer, damage from getting keyed and theft. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverages – Collision insurance pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as crashing into a ditch, sustaining damage from a pot hole and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. You can also raise the deductible to save money on collision insurance.

Medical costs insurance – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as surgery, prosthetic devices, pain medications and nursing services. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Smart consumers save more

Some insurance companies may not provide internet price quotes and usually these regional carriers provide coverage only through independent insurance agencies. The cheapest 2000 BMW 5 Series insurance is possible both online and also from your neighborhood agents, and you need to price shop both so you have a total pricing picture.

Insureds switch companies for many reasons like delays in responding to claim requests, denial of a claim, delays in paying claims or lack of trust in their agent. It doesn’t matter what your reason, switching companies is easier than you think.

When shopping online for auto insurance, don’t be tempted to buy poor coverage just to save money. In many instances, someone sacrificed comprehensive coverage or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your objective should be to buy the best coverage you can find at a price you can afford, but don’t skip important coverages to save money.

More tips and info about auto insurance is available by following these links:

• Airbag FAQ (iihs.org)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Side Impact Crash Tests (iihs.org)
• Get the Right Protection (InsureUonline.org)
• If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)