Searching for the cheapest car insurance rates for your BMW 5 Series? Are you sick and tired of wondering where the money will come from to pay car insurance each month? You are no different than many other consumers. You have so many auto insurance companies to purchase coverage from, and although it’s nice to have a choice, it can be more difficult to compare rates and cut insurance costs.
Car insurance is easily one of your largest bills, but there could be significant discounts that many consumers don’t even know exist. Most are applied at the time you complete a quote, but some may not be applied and must be inquired about before you get the savings. If you check and find you aren’t receiving every discount you deserve, you are throwing money away.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to the entire policy premium. The majority will only reduce individual premiums such as physical damage coverage or medical payments. If you do the math and it seems like you could get a free car insurance policy, insurance companies wouldn’t stay in business. Any qualifying discounts will definitely reduce your car insurance premiums.
A few companies that may offer policyholders some of the discounts shown above include:
Double check with each company or agent what discounts are available to you. Some of the discounts discussed earlier may not be available in your area. To view providers that can offer you the previously mentioned discounts, click here.
When buying the right insurance coverage for your personal vehicles, there really is no single plan that fits everyone. Every insured’s situation is different so your insurance should reflect that For example, these questions can help discover whether or not you may require specific advice.
If you can’t answer these questions, then you may want to think about talking to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.
Consumers can’t ignore all the ads for auto insurance savings by companies like State Farm, Allstate and Geico. They all seem to advertise claims that drivers will save a bundle just by switching to their company.
How can each company say the same thing? It’s all in the words they use.
Companies have specific characteristics for a prospective insured that is profitable for them. An example of a profitable risk profile could be a female over age 40, owns their home, and has excellent credit. Someone who matches that profile gets the lowest premium rates and most likely will save a lot of money.
Drivers who do not match those standards will see more expensive rates which translates to the prospect going elsewhere. If you pay close attention to the ads, they say “drivers who switch” not “all people who quote” can get the lowest rates when switching. That is how companies can truthfully claim big savings. Because of this risk profiling, you absolutely need to compare as many free insurance quotes as you can. Because you never know the company that will have the lowest car insurance rates for your situation.
Knowing the specifics of your policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Below you’ll find typical coverage types available from car insurance companies.
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as vandalism, falling objects, rock chips in glass, theft and hitting a deer. The highest amount your car insurance company will pay is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Uninsured/Underinsured Motorist (UM/UIM)
This provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as damage to your BMW 5 Series.
Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for prosthetic devices, nursing services and chiropractic care. They are often utilized in addition to your health insurance program or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
Liability insurance can cover injuries or damage you cause to people or other property. This coverage protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.
Liability insurance covers things such as repair costs for stationary objects, loss of income, pain and suffering, bail bonds and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but consider buying as much as you can afford.
Collision coverage protection
Collision insurance covers damage to your 5 Series from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as crashing into a ditch, rolling your car, driving through your garage door and damaging your car on a curb. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.
When buying insurance coverage, it’s very important that you do not buy poor coverage just to save money. There are a lot of situations where consumers will sacrifice full coverage only to regret at claim time that it was a big mistake. Your goal is to buy the best coverage you can find at a price you can afford and still be able to protect your assets.
We covered some good ideas how to compare 2011 BMW 5 Series insurance rates online. It’s most important to understand that the more rate quotes you have, the better likelihood of getting low cost insurance. You may even discover the lowest priced insurance coverage comes from the smaller companies. Some small companies may only write in your state and offer lower car insurance rates than the large multi-state companies such as Allstate, Geico and Progressive.
Additional insurance coverage information can be found below:
Does State Farm do SR22s in Oklahoma?
I found cheap 2011 BMW 5 Series insurance in Springfield, MA with Progressive.
Well-written and thought out article. I’m from Baltimore, Maryland. I got free prices from Amica, Farmers, and Sentry for my 5 Series and am saving around $430 a year. Teenage drivers are expensive!
Live in the northern part of Columbus, OH and for me GEICO had the lowest quote.
In Rockford, IL, State Farm auto insurance rates for my 2011 BMW 5 Series were good.
Hope my car insurance gets cheaper. I live just to the north of San Jose, CA. Received prices from State Farm, Erie, and Liberty Mutual for my 2011 BMW 5 Series and am saving around $510 a year. Left Nationwide to switch. I have a couple other vehicles on the policy. You can get a rate quote online.
I switched to GEICO. Quoted good rates in Spokane, WA. Insured with Sentry before. I get a discount for insuring multiple vehicles.
I got decent rates for a 2011 BMW 5 Series in Virginia Beach, VA. Ended up at right around $170 every six months with Amica.
Where can I find cheaper car insurance in Reno, Nevada?
Affordable car insurance is a myth. Lifelong resident of Bellevue, NE. Quoted quotes from Sentry, Farmers, GEICO, and American Family for my 2011 BMW 5 Series and saved just over $360 a year.
Hope my rates come down. I live just to the west of Oklahoma City, Oklahoma. Quoted quotes from AAA, MetLife, and USAA for my 5 Series and saved about $340 a year. Not sure if rates are cheaper online or not.
IT’S ALL TOO EXPENSIVE! I live east of Honolulu, HI. Not sure of all the companies but I ended up saving about $60 each month.
Here’s my quote info. I live on the south side of Augusta, GA. Quoted with American Family, Safeco, and some smaller one I can’t remember the name of for my 2011 BMW 5 Series and I think I cut my rates about $30 each month. Insured with Sentry before. Even increased coverage a bit. I used their online quote form to compare rates.
Liked the article. From Springfield, Missouri. Quoted prices online for a 2011 BMW 5 Series. Ended up at about $370 savings annually. Went with State Farm. I get lower rates because of my clean driving record.