2014 BMW X5 Car Insurance Quotes

Want cheaper car insurance rates for your BMW X5? I can’t think of anyone who likes having to buy car insurance, especially knowing they could lower their rates if they shopped around. Since you have so many car insurance companies to choose from, it’s nearly impossible to pick a more affordable company.

Verify you’re applying every discount

Auto insurance companies don’t always advertise every disount available very clearly, so the list below contains some of the best known in addition to some of the lesser obvious credits that you can use to lower your rates.

• Switch and Save Discount – Select insurance coverage companies give a discount for switching companies prior to your current policy expiration. This discount can save up to 10%.
• Accident Forgiveness – Not really a discount, but certain companies permit an accident without raising rates if you have no claims prior to being involved in the accident.
• Safety Restraint Discount – Requiring all passengers to fasten their seat belts could cut 10% or more off the personal injury premium cost.
• Home Ownership Discount – Owning your own home or condo can earn you a little savings due to the fact that maintaining a home is proof of financial responsibility.
• Save over 55 – Seniors may be able to get a small discount on rates for X5 insurance.
• Safe Driver Discounts – Drivers without accidents may receive a discount up to 45% for X5 insurance compared to rates paid by drivers with frequent claims.
• Early Payment Discounts – If paying your policy premium upfront rather than paying in monthly installments you may reduce your total bill.

As is typical with insurance, many deductions do not apply to your bottom line cost. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like you would end up receiving a 100% discount, you’re out of luck.

If you would like to view insurance companies that can offer you the previously mentioned discounts, follow this link.

The easiest way to get rate comparisons takes advantage of the fact most larger insurance companies have advanced systems to compare their rates. The only thing you need to do is give them rating details like the year, make and model of vehicles, an estimate of your credit level, how many miles driven, and driver details. The data gets sent immediately to all major companies and you should receive rate quotes immediately.

Find BMW X5 insurance at a discount

Many different elements are part of the calculation when you quote your car insurance policy. Some of the criteria are obvious like your driving record, but others are not quite as obvious such as whether you are married or your financial responsibility.The best way to find cheaper auto insurance is to take a look at the factors that help determine the level of your policy premiums. If you know what positively or negatively impacts your premiums, this helps enable you to make changes that could help you find cheaper rates.

The factors shown below are some of the major factors used by your company to calculate your rate level.

• Poor credit rating equals high rates – Having a good credit rating is likely to be a major factor in determining your rates. People that have excellent credit scores tend to be more responsible and file fewer claims as compared to drivers with lower credit ratings. If your credit rating can be improved, you could potentially save money when insuring your 2014 BMW X5 by improving your credit score.
• Continuous coverage saves money – Driving with no insurance is illegal and you will pay a penalty because you let your insurance expire. In addition to paying higher rates, being ticketed for driving with no insurance might get you a revoked license or a big fine.
• Low coverage deductibles cost more – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, covers damage that occurs to your BMW. Some coverage claims could be running into the backend of another car, hail damage, and rolling your vehicle. The deductibles state the amount of money you are required to spend before your auto insurance pays a claim. The higher the amount you have to pay, the bigger discount you will receive for X5 insurance.
• Safer cars cost less to insure – Cars with high safety ratings cost less to insure. The safest vehicles result in less severe injuries and better occupant protection means lower claim amounts passed on to you as lower rates.

When should I discuss my situation with an agent?

When buying coverage for your personal vehicles, there isn’t really a cookie cutter policy. Everyone’s situation is unique so your insurance needs to address that. For example, these questions might point out whether or not you would benefit from an agent’s advice.

• Does my policy pay for OEM or aftermarket parts?
• Can I get a multi-policy discount?
• How can I force my company to pay a claim?
• I have a DUI can I still get coverage?
• Do I need PIP coverage since I have good health insurance?
• Is motorclub coverage worth it?
• Should I drop comprehensive coverage on older vehicles?
• Does my medical payments coverage pay my health insurance deductible?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.

Insurance policy specifics

Knowing the specifics of your policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. Below you’ll find the usual coverages found on most insurance policies.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as damage to your BMW X5.

Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.

Collision coverages – This coverage pays for damage to your X5 from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as sideswiping another vehicle, colliding with another moving vehicle and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Another option is to choose a higher deductible to save money on collision insurance.

Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for things like EMT expenses, dental work and funeral costs. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states but can be used in place of medical payments coverage

Comprehensive auto coverage – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as hail damage, theft and damage from flooding. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability – Liability coverage can cover injuries or damage you cause to a person or their property in an accident. This coverage protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 50/100/50 that translate to a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.

Liability can pay for claims such as medical expenses, court costs, pain and suffering, repair bills for other people’s vehicles and emergency aid. How much coverage you buy is your choice, but you should buy as much as you can afford.

A little work can save a LOT of money

When you buy insurance online, make sure you don’t buy poor coverage just to save money. There are a lot of situations where an insured dropped full coverage only to regret that it was a big mistake. Your goal is to buy a smart amount of coverage for the lowest price.

Cheaper car insurance can be found on the web as well as from insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some car insurance companies may not provide online rate quotes and most of the time these small, regional companies provide coverage only through independent agents.

Other learning opportunities

• Vehicle Insurance in the U.S. (Wikipedia)
• Child Safety FAQ (iihs.org)
• Parking Tips to Reduce Door Dings (State Farm)
• What is a Telematics Device? (Allstate)
• What is Full Coverage? (Allstate)
• Five Mistakes to Avoid (Insurance Information Insitute)