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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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:
If you have a clean record and live around Hartford, CT, check out Allstate. You might save some money. Moved home policy as well. :P Liability only on my BMW.
I found pretty cheap rate quotes for a 2000 BMW 5 Series in Des Moines, IA. Ended up at darn near $70 every six months with Amica.
Anyone buy from AIG Insurance? I’m in Columbia, South Carolina.
Here’s what I found out. From a town just southwest of Green Bay, WI. I quoted with GEICO, AIG Insurance, and some I forget for my BMW and am saving around $60 a year. Good savings if you bundle. I only have liability coverage on it.
I’m just south of San Antonio, TX. Checked online prices for a 2000 BMW 5 Series. Ended up at about $90 savings annually. Went with GEICO. Switched homeowners coverage too.
Mine is so expensive. Live in Las Vegas, NV. Quoted prices online for a 2000 BMW 5 Series. Ended up at about $110 savings annually. Went with State Farm. Not sure if rates are cheaper online or through an agent.
I live on the east side of Knoxville, Tennessee. Quoted quotes with GEICO, American Family, and Encompass for my BMW and cut my rates about $60 a year. Left Auto-Owners to switch. Good multi-policy discounts. It’s too old for full coverage.
What is UM/UIM coverage?
Will 21st Century raise rates if I file a claim?
In Reno, NV try State Farm or GEICO. Both had decent prices.
I live just outside Columbus, GA. Quoted a bunch of companies. Saved roughly $20 a month. State Farm was the cheapest for me. Anyone else drop full coverage?
Located in New York City, NY. I compared lots of rates. Saved roughly $20 a month. 21st Century was the cheapest option for me. Insured with Safeco before. Ask about discounts. Did it all online.
Can I get replacement cost coverage for a 2000 BMW 5 Series?
Does Progressive offer multi-policy discounts?
From Fort Wayne, IN. Quoted prices from Allstate, Encompass, and Hanover for my BMW and saved $100 a year.
Mine is so expensive. Proud to be from Warwick, RI. Got rates from State Farm, Erie, and Hanover for my 2000 BMW 5 Series and saved $81 a year. Book value doesn’t justify full coverage anymore.
Progressive was cheapest for my 2000 BMW 5 Series in Baton Rouge, Louisiana.
Got a quote with AIG Insurance for my 2000 BMW 5 Series and am saving around $70 a year. Anyone else drop full coverage?
If you have a good history and live around Lexington, KY, check out 21st Century. They seem to be cheaper.
If you have a clean record and live near Davenport, IA, check out 21st Century. They seem to be cheaper. I increased coverages a little too. Only insure liability on my 5 Series.
Here’s what I found out. I’m in Jackson, Mississippi. Got free quotes online for a 2000 BMW 5 Series. Ended up at about $100 savings annually. Went with Progressive. BTW speeding tickets are not good. It was easy to get rates. Not worth enough to pay for comprehensive and collision.