Compare 2013 BMW X5 Insurance Quotes

Are you a victim of high-priced insurance coverage? Don’t sweat it because there are a lot of people just like you who feel imprisoned by their insurance coverage policy.

Big companies like Progressive, Geico and Farmers Insurance all claim big savings with catchy ads and consumers find it hard to sift through the bull and effectively compare rates to find the best deal.

If you are paying for car insurance now, you will be able to lower your premiums substantially using this strategy. Finding the best rates is quite easy. Nevertheless, drivers do need to know how insurance companies market insurance on the web and take advantage of how the system works.

Eight factors that affect insurance rates

Smart consumers have a good feel for the factors that play a part in calculating your policy premiums. If you have a feel for what determines base rates, this enables you to make decisions that could help you find lower rates.

The factors shown below are some of the items auto insurance companies consider when setting prices.

• Do you really need to file that policy claims? – Car insurance companies give better rates to people that do not abuse their auto insurance. If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Auto insurance is intended to be relied upon for the large, substantial claims.
• Save by driving cars with good safety ratings – Safe vehicles are cheaper to insure. Vehicles engineered for safety reduce injuries and reduced instances of injuries means lower claim amounts which can mean better rates for you. If your BMW X5 is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
• Does your vocation raise your prices? – Did you know your auto insurance rates can be affected by your occupation? Occupations such as real estate brokerspolice officers and medical professionals are shown to have higher premium rates because of high stress levels and lengthy work days. On the flip side, occupations such as professors, students and the unemployed pay the least for X5 coverage.
• Your address can push rates up or down – Choosing to live in a small town has definite advantages when it comes to auto insurance. People in densly populated areas tend to have more road rage incidents and longer commute times. Less people living in that area means reduced accidents.
• Raise physical damage deductibles and save – Insurance for physical damage, termed comprehensive and collision coverage on your policy, protects your BMW from damage. Some examples of claims that would be covered are a broken windshield, hail damage, and windstorm damage. The deductibles are the amount of money you are required to spend if a claim is determined to be covered. The more expense you choose to pay out-of-pocket, the lower your rates will be for X5 coverage.
• Do you really need roadside assistance? – Insurance companies have many extra add-on coverages that may not really be needed when buying auto insurance. Insurance for things like replacement cost coverage, accident forgiveness, and membership fees may not be needed and are just wasting money. They may seem like a good idea when deciding what coverages you need, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
• Keep the miles off and save – The higher the mileage driven every year the more you’ll pay to insure it. Most companies charge to insure your cars based upon how you use the vehicle. Cars not used for work or commuting qualify for better rates than those that get driven frequently. Incorrect rating for your X5 may be costing you higher rates. It’s always a good idea to double check that your auto insurance declarations sheet is showing annual mileage.
• Older drivers save more – Older, more experienced drivers are proven to be safer behind the wheel, tend to file fewer claims , and are generally more financially stable.Teenage drivers are statistically proven to be careless and easily distracted with other occupants in the car therefore auto insurance rates are much higher.

How to compare car insurance rate quotes

All the larger car insurance companies such as State Farm and Allstate make it easy to get prices for coverage on their websites. Comparing rates online is fairly simple because you just enter the amount of coverage you want on the page. When complete, their rating system automatically orders your driving record and credit report and generates pricing information based on these and other factors. This makes comparing rates easy, but the time it takes to visit a lot of sites and enter the same data into a form gets old quite quickly. But it’s also necessary to do this in order to get lower prices.

Online rates the easy way

The smarter way to lower your rates uses just one form to return rates from several different companies. It saves time, eliminates repetitive work, and makes online price comparison a little more enjoyable. After sending your information, it gets priced and you are able to buy any or none of the quotes returned. If you find a better price you simply finish the application and purchase coverage. This process takes 15 minutes at the most and you will know how your current rates stack up.

To save time and get comparison pricing now, simply click here to open in new window and enter your information. If you have coverage now, it’s recommended you complete the form with deductibles and limits just like they are on your policy. Doing this guarantees you will have comparison quotes for exact coverage.

Auto insurance advertising gotchas

Respected companies like State Farm and Allstate regularly use television and radio advertisements. They all advertise the message that you’ll save big after switching your coverage to them. How does each company say the same thing? This is the trick they use.

Insurance providers have a certain “appetite” for the right customer that earns them the highest profit. For instance, a profitable customer should be a mature driver, is a homeowner, and drives a vehicle with a low ISO rating. Any new insured that fits those parameters will probably get the lowest premium rates and most likely will save some money.

Consumers who fall short of those criteria will probably be forced to pay higher premiums and business not being written. The wording the ads use say “customers that switch” but not “all drivers who get quotes” save the amount stated. This is how companies can truthfully make the claims of big savings. This really illustrates why it is so important to get car insurance quotes as often as possible. Because you cannot predict which auto insurance company will have the lowest rates.

Lower-cost insurance coverage quotes with discounts

Some insurance providers don’t list every available discount very well, so we took the time to find both the well known as well as the least known insurance coverage savings.

• Data Collection Discounts – Insureds that choose to allow their company to monitor where and when they drive remotely like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if they exhibit good driving behavior.
• Safety Restraint Discount – Buckling up and requiring all passengers to buckle up can save up to 15% on the medical payments or PIP coverage costs.
• Multiple Cars – Having more than one vehicle with the same company can reduce the rates for all insured vehicles.
• Theft Prevention System – Cars that have factory anti-theft systems prevent vehicle theft and can earn a small discount on your policy.
• 55 and Retired – If you’re over the age of 55, you could receive a small discount on rates for X5 coverage.

Don’t be shocked that most of the big mark downs will not be given to the entire cost. Most cut the price of certain insurance coverages like liability and collision coverage. Despite the appearance that you can get free auto insurance, you aren’t that lucky.

Auto insurance companies that possibly offer most of these discounts include:

• American Family
• State Farm
• 21st Century
• Travelers
• Geico

Before buying, ask every company which discounts can lower your rates. Some of the earlier mentioned discounts might not apply in your area. If you would like to choose from a list of insurance coverage companies that have a full spectrum of discounts, click this link.

Tailor your insurance coverage coverage to you

When it comes to choosing the right insurance coverage, there isn’t really a best way to insure your cars. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that may help you determine whether you will benefit from professional help.

• What can I do if my company denied a claim?
• Can I afford to pay high deductible claims out of pocket?
• Do I need replacement cost coverage?
• Am I covered when pulling a rental trailer?
• What is roadside assistance coverage?
• Where can I find high-risk insurance?
• When would I need rental car insurance?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Specific coverage details

Understanding the coverages of car insurance helps when choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. These are the normal coverages available from car insurance companies.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW X5.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Collision – This covers damage to your X5 from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as hitting a mailbox, crashing into a ditch, hitting a parking meter, colliding with another moving vehicle and scraping a guard rail. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to increase the deductible to save money on collision insurance.

Comprehensive auto coverage – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like vandalism, hitting a deer and hitting a bird. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like rehabilitation expenses, funeral costs and surgery. They are used in conjunction with a health insurance plan or if you do not have health coverage. They cover 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 and may carry a deductible

Liability auto insurance – Liability insurance will cover injuries or damage you cause to people or other property that is your fault. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability can pay for things such as repair costs for stationary objects, medical services, funeral expenses and bail bonds. How much coverage you buy is a decision to put some thought into, but consider buying higher limits if possible.

More comparisons equals lower rates

We just showed you a lot of ways to shop for 2013 BMW X5 insurance online. The key thing to remember is the more companies you get rates for, the better your comparison will be. Consumers may even find the biggest savings come from an unexpected company. Regional companies may have significantly lower rates on certain market segments than the large multi-state companies such as Geico and State Farm.

As you go through the steps to switch your coverage, you should never buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed liability limits or collision coverage and learned later that the few dollars in savings costed them thousands. The aim is to find the BEST coverage for the lowest cost, but don’t skip important coverages to save money.

Additional car insurance information is located on the following sites:

• Young Drivers: The High Risk Years Video (iihs.org)
• Prom Night Tips for Teen Drivers (State Farm)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
• State Car Insurance Guides (Geico)
• Eight Auto Insurance Myths (Insurance Information Insitute)