Cheaper 2008 BMW 5 Series Car Insurance Quotes

I can’t think of anyone who anticipates paying for insurance, especially knowing they could find better rates elsewhere.

You have so many car insurance companies to insure vehicles with, and even though it’s nice to be able to choose, more options can take longer to find the best rates.

Buying car insurance is not that difficult. If you have car insurance now, you should be able to lower your premiums substantially using these tips. But drivers need to learn how the larger insurance companies market on the web.

Discounts can really help lower premiums

Companies that sell car insurance don’t always advertise every policy discount in an easy-to-find place, so we break down some of the more common as well as some of the hidden credits available to you. If you do not double check each discount you deserve, you’re paying more than you need to.

• Air Bag Discount – Vehicles with factory air bags or automatic seat belts may qualify for discounts of 20% or more.
• Multi-Vehicle Discounts – Having multiple cars on one policy qualifies for this discount.
• Seat Belt Usage – Using a seat belt and requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
• Renewal Discounts – Some insurance companies reward drivers for switching companies early. You can save around 10% with this discount.
• Waiver for an Accident – Not necessarily a discount, but a few companies such as Progressive and Allstate will allow you to have one accident without raising rates with the catch being you have to be claim-free before the accident.

Don’t be surprised that most credits do not apply to the overall cost of the policy. A few only apply to individual premiums such as physical damage coverage or medical payments. So when it seems like all those discounts means the company will pay you, it doesn’t quite work that way.

A few of the larger companies and the discounts they provide are included below.

• Esurance offers premium reductions for homeowner, renters, claim free, Pac-12 alumni, and multi-policy.
• The Hartford discounts include bundle, air bag, driver training, anti-theft, and good student.
• AAA may offer discounts for good driver, pay-in-full, education and occupation, good student, and multi-policy.
• Geico includes discounts for emergency military deployment, defensive driver, good student, military active duty, membership and employees, daytime running lights, and anti-lock brakes.
• State Farm may include discounts for driver’s education, Steer Clear safe driver discount, accident-free, Drive Safe & Save, good student, and multiple policy.

If you need lower rates, check with every company which credits you are entitled to. Some credits may not apply to policyholders in every state. If you would like to view companies with the best discounts, click this link.

BMW 5 Series insurance costs can be more affordable

Part of the auto insurance buying process is learning some of the things that go into determining your policy premiums. If you have some idea of what determines premiums, this allows you to make good choices that can help you get better auto insurance rates. Lots of factors are part of the calculation when you get a price on insurance. Some factors are common sense such as your driving record, but some are not as apparent like your continuous coverage or your financial responsibility.

• Increase coverage deductibles and save – Comp and collision deductibles represent how much money the insured will be required to pay if a covered claim is submitted. Physical damage insurance, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. Some examples of claims that would be covered would be rearending another vehicle, damage from fire, and damage caused by road hazards. The more money you pay before a claim is paid (deductible), the better rate you will receive for 5 Series insurance.
• Multiple policies with one company can save – Lots of insurance companies allow a discount to clients that have more than one policy such as combining an auto and homeowners policy. The discount can be ten or even up to twenty percent in some cases. Even if you qualify for this discount already, it’s still a good idea to compare rates to make sure you are getting the best deal.
• Theft deterrents save – Purchasing a vehicle with advanced anti-theft systems can save you a little every year. Anti-theft features like OnStar, LoJack tracking, and tamper alarms all help stop vehicle theft.
• How’s your driving record? – How you drive has a lot to do with how much you pay for insurance. Even one speeding ticket could increase your next policy renewal by as much as twenty percent. Good drivers receive lower rates compared to drivers with tickets. Drivers who have received dangerous violations like DUI or reckless driving may find they need to complete a SR-22 to the state department of motor vehicles in order to prevent their license from being revoked.
• Women tend to take less risk – The statistics show that women are safer drivers than men. The data does not necessarily mean that females are better drivers. Males and females have fender benders in similar numbers, but men cause more damage. Not only are claims higher, but men get cited for more serious violations like DWI (DUI) or reckless driving.
• Lower rates for safer cars – Safe vehicles tend to have lower insurance rates. Safer cars help reduce the chance of injuries in an accident and better occupant protection translates into fewer and smaller insurance claims passed on to you as lower rates. If your BMW 5 Series scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
• Costs can change based on your address – Residing in small towns and rural areas may provide you with better prices when talking about auto insurance. Lower population means reduced accidents and a lower car theft rate. Residents of big cities have traffic congestion and higher rates of accident claims. Longer commute distances statistically corresponds to a higher accident and claim rate.

Will just any policy work for me?

When buying coverage for your vehicles, there really is no single plan that fits everyone. Every situation is different so your insurance needs to address that. These are some specific questions can help discover whether you might need professional guidance.

• What discounts do I qualify for?
• Do I need an umbrella policy?
• Am I covered if my car is in a flood?
• Can I drive in Mexico and have coverage?
• Where can I get insurance after a DUI in my state?
• Do I have coverage if my license is suspended?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.

Coverage specifics

Learning about specific coverages of your insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement. Below you’ll find the normal coverages available from insurance companies.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things like damage from flooding, damage from getting keyed, hitting a bird and vandalism. The most a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries and damage to your BMW 5 Series.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.

Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for immediate expenses such as chiropractic care, EMT expenses and rehabilitation expenses. They are used in conjunction with a health insurance program or if you do not have health coverage. They cover you and your occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

Collision coverage – Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision can pay for things such as sideswiping another vehicle, hitting a parking meter and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to bump up the deductible to get cheaper collision coverage.

Liability – This provides protection from damages or injuries you inflict on other people or property in an accident. It protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/25 that means you have $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 structural damage, bail bonds and court costs. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible.

Cheaper insurance is a realistic goal

When getting auto insurance quotes online, make sure you don’t buy less coverage just to save a little money. There have been many situations where an accident victim reduced liability limits or collision coverage only to regret that it was a big error on their part. The proper strategy is to purchase a proper amount of coverage at the best cost, but do not sacrifice coverage to save money.

A few companies do not offer price quotes online and many times these small insurance companies only sell coverage through independent agencies. Discount 2008 BMW 5 Series insurance can be found both online in addition to local insurance agencies, so you need to compare both in order to have the best price selection to choose from.

Much more information about car insurance can be read at the links below

• Safe Vehicles for Teens (iihs.org)
• Car Insurance: When not to Skimp (BankRate.com)
• Understanding Limits and Deductibles (Allstate)
• Drunk Driving Statistics (Insurance Information Insitute)
• How Can I Save Money on Auto Insurance? (Insurance Information Insitute)
• Car Insurance FAQ (Trusted Choice)