How Much Does 2004 BMW 5 Series Insurance Cost?

Are you sick and tired of sacrificing to make your car insurance payment? You are no different than many other drivers.

Companies like State Farm, Farmers Insurance, Geico and Allstate promote their brand names with fancy advertisements and it can be hard to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.

If you currently have a car insurance policy, you will be able to lower your premiums substantially using these methods. Choosing the best insurance company for you is not rocket science. But car owners do need to know how companies compete online.

Discounts for affordable insurance coverage quotes

Auto insurance companies do not list every discount they offer very well, so the following list contains some of the more common and the more hidden discounts that you may qualify for. If you do not check that you are getting every discount you deserve, you are just wasting money.

  • No Charge for an Accident – Not necessarily a discount, but certain companies allow you one accident before they charge you more for coverage with the catch being you have to be claim-free for a specific time period.
  • Senior Discount – Older drivers can possibly qualify for a discount up to 10% for 5 Series coverage.
  • Professional Memberships – Being in a civic or occupational organization can get you a small discount when shopping for insurance coverage.
  • Claim Free – Drivers who don’t have accidents have much lower rates as compared to accident-prone drivers.
  • Policy Bundle Discount – If you have multiple policies and insure them both with the same insurance company you may save over 10 percent off each policy depending on the company.

Please keep in mind that some of the credits will not apply to the entire policy premium. Some only apply to individual premiums such as comprehensive or collision. Even though it may seem like you can get free auto insurance, companies wouldn’t make money that way. But any discount should help lower your overall premium however.

A list of insurance coverage companies and a summarized list of policyholder discounts are:

  • Progressive policyholders can earn discounts including online signing, homeowner, online quote discount, continuous coverage, multi-vehicle, and multi-policy.
  • AAA may have discounts that include anti-theft, AAA membership discount, pay-in-full, multi-policy, good student, education and occupation, and good driver.
  • Farmers Insurance offers discounts including teen driver, multi-car, youthful driver, pay in full, good student, and mature driver.
  • Geico has savings for multi-vehicle, multi-policy, defensive driver, membership and employees, and military active duty.
  • Esurance includes discounts for Switch & Save, claim free, good driver, renters, paid-in-full, and DriveSense.
  • SAFECO may include discounts for multi-car, bundle discounts, accident prevention training, teen safety rewards, anti-lock brakes, safe driver, and homeowner.
  • State Farm has discounts for student away at school, defensive driving training, Steer Clear safe driver discount, Drive Safe & Save, and driver’s education.

If you need lower rates, check with each insurance company how many discounts you can get. Depending on the company, some discounts may not apply in your area. To view insurance companies offering insurance coverage discounts, follow this link.

You may need specialized auto insurance coverage

When buying adequate coverage for your vehicles, there isn’t really a perfect coverage plan. Every situation is different and your policy should reflect that. These are some specific questions may help you determine whether your personal situation could use an agent’s help.

  • What exactly is covered by my policy?
  • Do I need rental car coverage?
  • Where can I find DUI or SR-22 insurance?
  • Can my babysitter drive my car?
  • Is motorclub coverage worth it?
  • Will my rates increase for filing one claim?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with 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

Auto insurance coverage information

Understanding the coverages of car insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are the usual coverages found on most car insurance policies.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP kick in for expenses such as pain medications, X-ray expenses and doctor visits. They are used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover you and your occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Liability car insurance

This protects you from damage that occurs to other people or property in an accident. It protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Alternatively, you may have a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers things like loss of income, repair costs for stationary objects, medical services, structural damage and funeral expenses. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive auto coverage

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like hitting a deer, vandalism, hail damage and falling objects. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and also any damage incurred to your BMW 5 Series.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these limits are set the same as your liablity limits.

Collision coverage

This will pay to fix damage to your 5 Series from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against claims like colliding with another moving vehicle, crashing into a ditch, driving through your garage door, hitting a mailbox and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also increase the deductible to save money on collision insurance.

In any little way, save everyday

Lower-priced auto insurance can be bought from both online companies as well as from insurance agents, so you should be comparing quotes from both to have the best selection. Some companies do not provide online quoting and most of the time these smaller providers work with local independent agents.

When shopping online for auto insurance, it’s not a good idea to reduce coverage to reduce premium. In many instances, drivers have reduced liability limits or collision coverage only to regret that the savings was not a smart move. The goal is to purchase a proper amount of coverage at the best possible price and still be able to protect your assets.

Additional information is located on the following sites:

Comments About 2004 BMW 5 Series Insurance

  1. Junie Solis

    I found pretty cheap rate quotes for a 2004 BMW 5 Series in Madison, WI. Ended up at roughly $80 every six months with AIG Insurance. I just carry liability insurance.

  2. Joel Harrison

    Well-written and thought out article. I live on the west side of Biloxi, MS. I quoted with State Farm, AIG Insurance, Farmers, and GMAC for my BMW and I think I saved around $20 each month. Insured with Erie before. A clean driving record helps. Not sure if rates are cheaper online or through an agent.

  3. Nisha Irwin

    GEICO and Allstate were both pretty cheap in Henderson, Nevada.

  4. Shaneka House

    I got quite a few price quotes for a 2004 BMW 5 Series in Boise, Idaho. Ended up at roughly $100 every six months with American Family. It’s only liability tho.

  5. Leanora Barker

    Not sure what I should be paying. I’m just north of Rochester, Minnesota. Received quotes from AIG Insurance, Nationwide, and some smaller one I can’t remember the name of for my 2004 BMW 5 Series and I’m now saving $12 a month. Left Encompass to switch. BTW speeding tickets are not good. Just go online and compare their rates. I don’t put full coverage on it.

  6. Sylvia Padilla

    This is too expensive. I’m in the east part of Charleston, SC. Got prices from GMAC, American Family, Nationwide, and a couple others for my 2004 BMW 5 Series and saved $115 a year. Left GMAC to switch. A clean driving record helps. I think I’ll get rid of full coverage next time.

  7. Debbi Carter

    I found pretty cheap rate quotes for a 2004 BMW 5 Series in Fort Smith, AR. Ended up at darn near $70 every six months with Auto-Owners. Left Liberty Mutual to switch. Bought it from an online quote. Anyone else drop full coverage?

  8. Majorie Richards

    IT’S ALL TOO EXPENSIVE! I’m in the suburbs of Knoxville, Tennessee. I don’t recall every quote but I ended up saving about $20 each month. Good savings if you bundle.

  9. Albertha Mcguire

    Live in the northern part of Phoenix, AZ. Don’t remember every company but I ended up saving about $20 each month. Was with USAA. I’m a pretty low risk driver. I don’t put full coverage on it.

  10. Luetta Myers

    I found pretty cheap rate quotes for a 2004 BMW 5 Series in South Burlington, VT. Ended up at darn near $90 every six months with Auto-Owners. My new agent seems to be really good. I just quoted rates online.

  11. Raquel Myers

    Just my two cents. Located in Juneau, Alaska. I got free quotes with 21st Century, Eastwood, and Liberty Mutual for my BMW and I think I cut my rates about $20 each month. Was with Amica. Might find lower rates online. Next renewal I’ll just do liability.

  12. Lizeth Bullock

    Thought I’d throw in my experience. From northwest of Indianapolis, IN. Got car insurance prices from Amica, Eastwood, and Safeco for my BMW and I’m now saving $10 a month. Was with Safeco. Hopefully won’t need it. I don’t insure for physical damage though.

  13. Rachele Sellers

    I’m in the suburbs of Atlanta, GA. Got car insurance quotes with State Farm, American Family, and Farmers for my BMW and saved just over $60 a year. I recommend comparing lots of rates. I dropped full coverage awhile back.

  14. Theron Estrada

    Here’s my info. Checking in from Frederick, Maryland. Quoted prices online for a 2004 BMW 5 Series. Ended up at about $70 savings annually. Went with Progressive. LOL Liability only on my BMW.