2011 BMW 5 Series Insurance Cost – 9 Tricks for Best Prices

Searching for the cheapest insurance for a BMW 5 Series could be an all-consuming task, but you can learn our auto insurance buying tips to make it easier. There are both good and bad ways to compare auto insurance rates so we’re going to tell you the quickest way to price shop coverage for your BMW and obtain the best price possible either online or from local insurance agents.

You should make it a habit to compare premium rates at least once a year since rates trend upward over time. Despite the fact that you may have had the best deal on 5 Series insurance a couple years back you will most likely find a better price today. Block out anything you think you know about auto insurance because we’re going to demonstrate the right way to find great coverage at a great price.

Compare insurance price quotes online

Finding a better price on insurance is an easy way to save money. You just need to take a few minutes comparing rates to see which company has low cost auto insurance quotes. Price comparisons can be done by following the guidelines below.

The fastest way to compare a lot of rates at once is a comparison rater form click here to open form in new window. This easy form saves time by eliminating separate quotation requests for every prospective company. A single, simple form gets coverage cost estimates from multiple companies. This is by far the quickest method.
A less efficient way to get quotes online consists of visiting each company website and fill out their own quote form. For examples sake, let’s assume you want comparison quotes from Geico, Farmers and GMAC. To get each rate you have to visit each site and repeatedly enter your information, which can get rather old.
To view a list of companies in your area, click here.

Compare rates however you want, just try to keep identical information for each quote you get. If you enter different deductibles it’s impossible to find the best deal for your BMW 5 Series.

Take these nine policy discounts and save

Companies do not advertise their entire list of discounts very well, so the list below gives a summary of some of the more common in addition to some of the lesser obvious credits available to you. If you aren’t receiving every discount possible, you’re paying more than you need to.

Active Military Service – Being deployed in the military could qualify you for better prices.
ABS Brakes – Vehicles with anti-lock braking systems prevent accidents and the ABS can save up to 10%.
Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates on 5 Series insurance than drivers with accidents.
Government Employee Discount – Active or former government employment may qualify for a discount when you quote auto insurance on 5 Series insurance with some insurance coverage companies.
Multi-Vehicle Discounts – Drivers who insure multiple vehicles on the same insurance coverage policy can get a discount for every vehicle.
Fewer Miles Equal More Savings – Fewer annual miles on your BMW may enable drivers to earn discounted rates on garaged vehicles.
Driver’s Ed – Have your child take driver’s ed class as it will make them better drivers and lower rates.
Discount for Good Grades – A discount for being a good student can save 20 to 25%. Most companies allow this discount well after school through age 25.
Senior Citizen Rates – Drivers that qualify as senior citizens may be able to get a slight reduction on a auto insurance quote on 5 Series insurance.

Discounts save money, but please remember that most discount credits are not given to the entire cost. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Even though the math looks like adding up those discounts means a free policy, insurance coverage companies aren’t that generous.

Larger insurance coverage companies and some of the discounts are shown below.

Progressive offers discounts including multi-policy, online quote discount, homeowner, multi-vehicle, continuous coverage, and online signing.
AAA may have discounts that include good student, anti-theft, multi-policy, multi-car, and good driver.
Farmers Insurance may offer discounts for homeowner, multi-car, teen driver, distant student, pay in full, and bundle discounts.
Geico includes discounts for five-year accident-free, federal employee, daytime running lights, good student, multi-policy, and seat belt use.
Esurance offers discounts for good student, anti-lock brakes, emergency road assistance, multi-policy, claim free, and good driver.
SAFECO offers premium reductions for safe driver, multi-car, accident prevention training, teen safety rewards, drive less, teen safe driver, and bundle discounts.
State Farm may include discounts for defensive driving training, driver’s education, multiple policy, student away at school, and Drive Safe & Save.

Before purchasing a policy, check with each insurance company the best way to save money. Some discounts might not be offered everywhere. To choose insurance coverage companies that offer multiple discounts, click this link.

Which policy gives me the best coverage?

When choosing proper insurance coverage for your vehicles, there really is not a cookie cutter policy. Every insured’s situation is different.

These are some specific questions may help you determine whether your personal situation might need professional guidance.

Can my teen drive my company car?
What discounts do I qualify for?
What companies insure drivers after a DUI or DWI?
What is covered by UM/UIM coverage?
What if I owe more than I can insure my car for?
Is my cargo covered for damage or theft?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form. It is quick, free and can help protect your family.

Car insurance coverages for a BMW 5 Series

Having a good grasp of a auto insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

Comprehensive protection

This will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hail damage, damage from getting keyed, rock chips in glass, vandalism and theft. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family 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. This is the reason having UM/UIM coverage is important protection for you and your family.

Auto collision coverage

This coverage will pay to fix damage to your 5 Series resulting from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like sustaining damage from a pot hole, crashing into a ditch, driving through your garage door, colliding with a tree and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. You can also choose a higher deductible in order to get cheaper collision rates.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for bills for X-ray expenses, funeral costs and surgery. They can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. It covers you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Liability insurance

This coverage provides protection from damage that occurs to other people or property. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability insurance covers claims such as legal defense fees, loss of income, medical expenses and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.