2015 BMW 5 Series Insurance Quotes – 7 Tips for Cheaper Rates

Searching for cheaper insurance coverage rates for your BMW 5 Series? Finding a different company that has cheaper auto insurance may appear to be difficult at first if you’re new to online insurance coverage quotes. But don’t be baffled because it’s actually quite easy.

How to get cheap insurance coverage

There are several ways you can shop for insurance coverage and some are less time-consuming than others. You could waste a few hours discussing policy coverages with agents in your area, or you could use the web to accomplish the same thing much quicker.

Most of the larger companies participate in an industry program where prospective buyers enter their policy data once, and each participating company can provide price quotes based on that information. This saves time by eliminating quote requests for each company you want a rate for.

To access this free quoting program, click here (opens in new window).

The only drawback to using this type of form is that you can’t choose which carriers to get quotes from. So if you want to choose specific providers to request quotes from, we put together a list of low cost insurance coverage companies in your area. Click here to view list.

Whichever way you use, ensure you’re using the exact same coverages and limits for each comparison quote. If you compare unequal deductibles or liability limits you can’t possibly determine which rate is truly the best. Slightly different limits can mean a large discrepancy in price. And when comparing insurance coverage rates, know that having more price comparisons helps locate better pricing.

Seven discounts for affordable car insurance rates

Insurance can be prohibitively expensive, but companies offer discounts that may help make it more affordable. Larger premium reductions will be automatically applied when you get a quote, but a few must be asked about in order for you to get them. If you are not receiving all the discounts available, you could be saving more on your car insurance.

Telematics Data – Policyholders that allow driving data collection to look at driving manner by using a telematic data system like Drivewise from Allstate or In-Drive from State Farm might see lower rates if they have good driving habits.
Passive Restraints and Air Bags – Factory air bags or motorized seat belts can get savings of up to 25% or more.
Homeowners Pay Less – Owning your own home or condo can earn you a little savings due to the fact that maintaining a home requires a higher level of personal finance.
Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to fasten their seat belts can save up to 15% off the medical payments premium.
Multi-line Discount – Insurance companies who offer life insurance give better car insurancerates if you take out life insurance.
Safety Course Discount – Taking time to complete a defensive driver course can save you 5% or more and easily recoup the cost of the course.
ABS Braking Discount – Cars equipped with ABS or steering control are much safer to drive and will save you 10% or more.

Discounts reduce rates, but you should keep in mind that most credits do not apply the the whole policy. Most only cut individual premiums such as comp or med pay. Despite the fact that it seems like having all the discounts means you get insurance for free, that’s just not realistic.

Popular car insurance companies and a selection of discounts are outlined below.

AAA offers premium reductions for multi-policy, good driver, pay-in-full, multi-car, and anti-theft.
Progressive includes discounts for continuous coverage, online quote discount, homeowner, multi-vehicle, multi-policy, and good student.
State Farm has savings for anti-theft, Drive Safe & Save, Steer Clear safe driver discount, good student, and passive restraint.
Esurance may offer discounts for DriveSense, anti-theft, emergency road assistance, renters, claim free, and multi-car.
Nationwide has discounts for good student, defensive driving, accident-free, anti-theft, easy pay, and business or organization.

When getting a coverage quote, ask every prospective company which discounts you may be entitled to. Some discounts listed above may not apply everywhere. To see a list of car insurance companies that offer multiple discounts, click here.

Tailor your insurance coverage coverage to you

When choosing the best insurance coverage coverage for your personal vehicles, there really is not a “perfect” insurance plan. Each situation is unique.

For example, these questions might help in determining whether or not you could use an agent’s help.

Can I afford to pay high deductible claims out of pocket?
Where can I find high-risk insurance?
Is my teen driver covered when they drive my company car?
What should my uninsured motorist coverage limits be in my state?
How does medical payments coverage work?
How many claims can I have before being cancelled?
Does my 2015 BMW 5 Series need full coverage?
Can I afford low physical damage deductibles?
Is rental equipment covered for theft or damage?
Does my car insurance cover rental cars?

If you can’t answer these questions, you might consider talking to a licensed agent. To find an agent in your area, fill out this quick form.

Detailed coverages of your insurance policy

Learning about specific coverages of insurance helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for things like ambulance fees, dental work, X-ray expenses and EMT expenses. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 5 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision coverage

Collision insurance pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like hitting a mailbox, scraping a guard rail, sustaining damage from a pot hole and driving through your garage door. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.

Liability car insurance

This can cover damage that occurs to a person or their property in an accident. This insurance protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against claims like funeral expenses, structural damage and bail bonds. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible.

Comprehensive insurance

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as damage from getting keyed, hail damage and a broken windshield. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.