2016 BMW 5 Series Insurance Cost – 6 Ways to Save

Want the cheapest car insurance rates? Drivers have a choice when trying to find affordable BMW 5 Series insurance. You can either waste hours calling around trying to get quotes or use the internet to find the lowest rates. There is a better way to compare car insurance rates and you need to know the proper way to price shop coverage for your BMW and find the cheapest rates from local insurance agents and online providers.

It’s a good habit to check car insurance prices occasionally because prices are usually higher with each renewal. Even if you think you had the best rates for 5 Series coverage last year a different company probably has better premium rates today. You can find a lot of information about car insurance out there, but by reading this article, you’re going to learn some proven techniques to slash your car insurance rates.

Choosing the best insurance company for you is not that difficult. If you currently have a car insurance policy, you should be able to reduce your rates substantially using these tips. Consumers just need to learn the tricks to get comparison rates online.

Finding car insurance

The majority of larger companies allow you to get coverage price quotes on their websites. Getting prices online doesn’t take much effort because you just enter your coverage information as requested by the quote form. After you submit the form the company’s rating system collects your driving and credit reports and generates a price.

Quoting online makes comparing rates easy, but the time required to go to several different sites and fill out multiple forms gets old quite quickly. But it’s necessary to compare as many rates as possible in order to get the lowest price.

The quickest way to lower your rates uses just one form that gets price quotes from several different companies. The form is fast, helps eliminate reptitive entry, and makes online quotes much simpler. Immediately after you send the form, it gets priced with multiple companies and you can pick your choice of the quotes returned. If the quotes result in lower rates, you can simply submit the application and buy the policy. It only takes a few minutes and may result in a nice savings.

To save time and find out if lower rates are available, click here to open in new window and enter your vehicle and coverage information. If you have your current policy handy, we recommend you complete the form with exactly as they are listed on your policy. This makes sure you will have a rate comparison based on identical coverages.

Tailor your insurance coverage to you

When buying the right insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Each situation is unique.

For example, these questions can help discover if your insurance needs might need professional guidance.

  • What is the rate difference between pleasure use and commuting?
  • Can I afford to pay high deductible claims out of pocket?
  • Does my car insurance cover rental cars?
  • Is my 2016 BMW 5 Series covered for flood damage?
  • What companies insure drivers after a DUI or DWI?
  • What if I owe more than I can insure my car for?
  • Am I covered if I break a side mirror?
  • Is my teenager covered with friends in the car?
  • Should I buy full coverage?
  • How do I insure my teen driver?

If you can’t answer these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and you can get the answers you need.

Car insurance policy coverages for a 2016 BMW 5 Series

Learning about specific coverages of your car insurance policy can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for short-term medical expenses such as doctor visits, hospital visits, X-ray expenses and pain medications. They are used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover you and your occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage

Comprehensive insurance – This will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as falling objects, damage from getting keyed, damage from flooding, fire damage and hail damage. The highest amount your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Collision coverage – This covers damage to your 5 Series resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as driving through your garage door, scraping a guard rail, sustaining damage from a pot hole and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also bump up the deductible to bring the cost down.

Liability auto insurance – This coverage will cover injuries or damage you cause to a person or their property by causing an accident. This coverage protects you against claims from other people, and doesn’t cover 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. As an example, you may have policy limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims like repair bills for other people’s vehicles, attorney fees, emergency aid, bail bonds and medical services. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants and damage to your 2016 BMW 5 Series.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.