2015 BMW X5 Insurance Cost – 6 Ways to Save

Searching for better auto insurance rates for your BMW X5? Finding the cheapest auto insurance can be impossible for drivers new to quoting and buying insurance on the internet. With so many options of companies, how are we expected to effectively compare every one to find the best pricing?

Ways to get car insurance quotes

There are several ways of comparing rates from car insurance companies in your area. The fastest way to find the lowest 2015 BMW X5 rates consists of obtaining rate quotes online. It’s really quite simple and can be done in a couple of different ways.

  1. The fastest way consumers can make multiple comparisons is to use a rate comparison form (click to open form in new window). This style of form eliminates the need for repetitive form entry for each price estimate. Just one form will get you rate comparisons from several companies. This is by far the quickest method.
  2. Another way to compare rate quotes requires a trip to the website of each company and fill out a new quote form. For example, let’s assume you want comparison quotes from USAA, Safeco and Farmers. You would have to go to every website and repeatedly type in your coverage information, which is why first method is reommended. For a list of links to insurance companies in your area, click here.

The method you choose is up to you, but make sure you are using nearly identical coverages and limits for each quote you get. If you are comparing higher or lower deductibles it’s impossible to determine the best price for your BMW X5. Slightly different coverage limits can make a big difference in price. And when comparison shopping, getting more free quotes gives you a better chance of getting a better price.

Can you really save that much by switching?

State Farm, Geico and Progressive continually stream ads on television and other media. They all seem to say the same thing about saving some big amount if you move your coverage to them. Is it even possible that every company can charge you a lower premium? It’s all in how they say it.

Many companies quote the lowest rates for the type of insured that will not have excessive claims. One example of a profitable customer might have to be a married male, has never had a policy lapse, and drives newer vehicles. Someone that meets those criteria will most likely get cheap prices and will probably save a lot if they switch.

People who don’t measure up to the requirements will have to pay a higher rate and ends up with the customer not purchasing. The trick companies use is to say “people that switch” not “all people who quote” can get the lowest rates when switching. That’s why companies can state the savings.

This really illustrates why it is so important to get as many free insurance coverage quotes as possible. It’s impossible to know with any certainty which company will fit your personal profile best.

Get cheaper insurance coverage with discounts

Insurance coverage is neither fun to buy or cheap, but you might be missing out on some discounts that you may not even be aware of. A few discounts will automatically apply when you purchase, but occassionally some discounts must be manually applied before you get the savings. If you don’t get every credit possible, you could be saving more on your insurance coverage.

  • Good Student Discount – Excelling in school could provide a savings of up to 20% or more. Many companies even apply the discount to college students up to age 25.
  • Pay Early and Save – By paying your policy upfront instead of making monthly payments you can actually save on your bill.
  • Bundled Policy Discount – When you have multiple policies and insure them both with the same insurance company you could earn a discount of up to 20% and get you cheap insurance coverage.
  • Drivers Ed for Students – Teen drivers should successfully complete driver’s ed class in school or through a local driver safety program.
  • Save with a New Car – Insuring a vehicle that is new can cost up to 25% less compared to insuring an older model.
  • Homeowners Savings – Being a homeowner can save you money because it means you have a higher level of financial diligence.

Drivers should understand that many deductions do not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like comprehensive or collision. So even though you would think you could get a free insurance coverage policy, it doesn’t quite work that way.

Large insurance coverage companies and some of the premium reductions they offer are outlined below.

  • State Farm policyholders can earn discounts including multiple policy, good student, good driver, accident-free, and safe vehicle.
  • Farmers Insurance may offer discounts for bundle discounts, switch companies, teen driver, early shopping, homeowner, alternative fuel, and mature driver.
  • Geico offers discounts for military active duty, membership and employees, multi-policy, seat belt use, and defensive driver.
  • American Family offers discounts including multi-vehicle, early bird, air bags, good driver, and accident-free.
  • Nationwide has discounts for family plan, good student, anti-theft, accident-free, business or organization, Farm Bureau membership, and easy pay.
  • Progressive has savings for homeowner, multi-vehicle, continuous coverage, multi-policy, online signing, online quote discount, and good student.

When getting free insurance coverage quotes, it’s a good idea to every insurance company which discounts can lower your rates. Some discounts might not be offered everywhere. If you would like to choose from a list of providers with discount rates, click this link.

Tailor your insurance coverage to you

When it comes to choosing proper insurance coverage, there really is no “perfect” insurance plan. Everyone’s situation is a little different.

Here are some questions about coverages that can aid in determining if your insurance needs would benefit from professional advice.

  • Do I need PIP (personal injury protection) coverage in my state?
  • Can I make deliveries for my home business?
  • Should I drop comprehensive coverage on older vehicles?
  • What exactly is covered by my policy?
  • Am I getting all the discounts available?
  • Can I afford to pay high deductible claims out of pocket?
  • Does insurance cover damages from a DUI accident?
  • Is my dog or cat covered if injured in an accident?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form.

Insurance coverage basics

Understanding the coverages of your policy aids in choosing the best coverages for your vehicles. Insurance terms can be difficult to understand and coverage can change by endorsement.

Collision coverage – Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims like sustaining damage from a pot hole, backing into a parked car, crashing into a building, crashing into a ditch and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family and damage to your 2015 BMW X5.

Due to the fact that many 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 should not be overlooked. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for immediate expenses such as EMT expenses, dental work and ambulance fees. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay

Coverage for liability – This coverage provides protection from injuries or damage you cause to other’s property or people by causing an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Some companies may use a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things like legal defense fees, pain and suffering, attorney fees and repair costs for stationary objects. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.

Comprehensive insurance – This coverage will pay to fix 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 can pay for claims such as a broken windshield, damage from getting keyed, damage from flooding and vandalism. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Don’t be a big spender

Cheap 2015 BMW X5 insurance can be sourced both online and with local insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies may not have online price quotes and usually these regional carriers prefer to sell through independent insurance agencies.

People change insurance companies for any number of reasons including questionable increases in premium, high rates after DUI convictions, delays in responding to claim requests and extreme rates for teen drivers. Whatever your reason, finding a new company is actually quite simple.

When searching for affordable insurance coverage quotes, it’s not a good idea to reduce coverage to reduce premium. There have been many cases where an insured dropped collision coverage only to discover later that it was a big error on their part. Your strategy should be to buy enough coverage for the lowest price.

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