Lower Your 2018 BMW 5 Series Insurance Quotes

Searching for lower insurance rates for your BMW 5 Series? If you’re shopping for lower-cost insurance online, are you intimidated by the sheer number of insurance sources? Lot’s of other drivers are too. There are so many choices that it can quickly become a chore to find lower rates.

Smart consumers can cut insurance costs

Many factors are considered when pricing auto insurance. Some are pretty understandable such as your driving record, but other criteria are not as apparent such as whether you are married or your financial responsibility.

  • Low mileage costs less – The more you drive annually the more you will pay for car insurance. Many insurance companies apply a rate based upon how the vehicle is primarily used. Vehicles used primarily for pleasure use qualify for better rates than those that get driven frequently. Having the wrong rating on your 5 Series may be costing you. It’s a smart idea to ensure your vehicle rating correctly shows the correct usage for each vehicle, because it can save money.
  • Insurance companies don’t like frequent car insurance claims – If you file claims often, you can expect higher rates. Auto insurance companies provide cheaper rates to insureds who file claims infrequently. Auto insurance is intended for more catestrophic claims.
  • Car insurance liability protection limits – The liability section of your policy is the protection if you are responsible for causing damage or personal injury in an accident. Your policy’s liability insurance provides legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable as compared to coverage for physical damage, so buy as much as you can afford.
  • Cheaper rates by bundling – Many car insurance companies allow better rates to people that buy multiple policies. It’s known as a multi-policy discount. The discount can be anywhere from five to ten percent in most cases. Even if you qualify for this discount already, you still need to compare rates to help ensure you have the lowest rates.
  • Being married can lower prices – Having a spouse actually saves money on your car insurance bill. Marriage may mean you are more mature than a single person and it’s proven that married drivers get in fewer accidents.
  • Lower rates by increasing comp and collision deductibles – The deductibles you choose state the amount of money you are willing to pay if you file a covered claim. Physical damage insurance, aka comp and collision, covers damage that occurs to your car. Examples of covered claims are a windshield broken by a bird, animal collisions, and damage caused by road hazards. The more the insured is willing to pay, the lower your rates will be for 5 Series insurance.

The method we recommend to get policy rate comparisons is to know auto insurance companies participate in a system to give rate comparisons. The only thing you need to do is provide information including if you have a valid license, if the car is leased, level of coverage desired, and whether you have decent credit. The rating information is sent automatically to many different companies and they respond with quotes instantly.

To compare multiple company rates now, click here and find out if lower rates are available.

Save $399 a year! What?

Respected companies like Allstate, Geico and Progressive constantly bombard you with television, radio, and online ads. They all seem to advertise claims that you’ll save big just by switching your policy. How is it plausible that every one can give you a better price? Just pay attention to how they say it.

All the different companies give the cheapest rates for the type of driver that earns them the most money. An example of this type of risk profile might be over the age of 40, has a low-risk occupation, and has a high credit rating. Any customer that fits those parameters will get low auto insurance rates and will most likely save some money.

Consumers who fall short of those criteria will probably be forced to pay more expensive rates and this can result in business going elsewhere. The ads state “people who switch” not “everyone that quotes” save that much when switching. This is how insurance companies can lure you into getting a quote. Because every company is different, you should get a wide range of price quotes. You cannot predict with any certainty which company will give you the biggest savings.

Discounts for lower-cost insurance coverage rates

Companies offering auto insurance don’t always advertise all available discounts in a way that’s easy to find, so below is a list some of the best known and also the lesser-known ways to save on insurance coverage.

  • Senior Citizen Rates – Drivers that qualify as senior citizens may be able to get a small discount on rates for 5 Series insurance.
  • Early Switch Discount – Select companies give a discount for switching companies prior to your current policy expiration. This can save 10% or more.
  • Savings for New Vehicles – Adding a new car to your policy can save up to 30% because newer models are generally safer.
  • Low Mileage Discounts – Driving fewer miles can earn cheaper rates.
  • Accident Waiver – Not necessarily a discount, but some insurance companies will forgive one accident before raising your premiums if you have no claims for a particular time prior to the accident.
  • Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn lower insurance coveragerates if you buy some life insurance too.

Remember that most of the big mark downs will not be given to the entire policy premium. Some only apply to specific coverage prices like comp or med pay. Even though it appears all the discounts add up to a free policy, it just doesn’t work that way.

A list of insurance coverage companies and some of their more popular discounts are detailed below.

  • State Farm may have discounts that include defensive driving training, multiple policy, safe vehicle, Steer Clear safe driver discount, Drive Safe & Save, and good student.
  • Progressive offers premium reductions for good student, online signing, multi-policy, multi-vehicle, and homeowner.
  • Travelers may include discounts for IntelliDrive, continuous insurance, multi-policy, home ownership, driver training, student away at school, and early quote.
  • American Family discounts include early bird, accident-free, mySafetyValet, air bags, bundled insurance, Steer into Savings, and good driver.
  • Liberty Mutual offers discounts for newly retired, new vehicle discount, teen driver discount, preferred payment discount, hybrid vehicle, and new move discount.

It’s a good idea to ask every prospective company which discounts they offer. Some of the earlier mentioned discounts may not be available in your area. To view providers that offer the discounts shown above, click here.

You may need specialized insurance coverage

When it comes to choosing coverage, there is no best way to insure your cars. Every insured’s situation is different.

For instance, these questions may help highlight whether you will benefit from professional help.

  • Can I get a multi-policy discount?
  • Does coverage extend to Mexico or Canada?
  • Do I need an umbrella policy?
  • Do all my vehicles need collision coverage?
  • Why do I only qualify for high-risk insurance?
  • Should I waive the damage coverage when renting a car?
  • Can I afford low physical damage deductibles?

If you’re not sure about those questions, you may need to chat with an insurance agent. If you don’t have a local agent, take a second and complete this form.

Coverage specifics

Knowing the specifics of insurance can help you determine which coverages you need for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Liability auto insurance

Liability coverage can cover injuries or damage you cause to other’s property or people in an accident. This insurance protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability can pay for claims such as attorney fees, medical services, funeral expenses and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but buy higher limits if possible.

Coverage for collisions

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision can pay for claims like scraping a guard rail, driving through your garage door, sustaining damage from a pot hole, colliding with a tree and crashing into a building. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Comprehensive insurance

This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as damage from flooding, damage from a tornado or hurricane, hitting a bird, a tree branch falling on your vehicle and hitting a deer. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Coverage for uninsured or underinsured drivers

This provides protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 5 Series.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Coverage for medical expenses

Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for hospital visits, ambulance fees, rehabilitation expenses and X-ray expenses. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants as well as being hit by a car walking across the street. PIP is not available in all states but can be used in place of medical payments coverage

Saving money is sweet as honey

When shopping online for auto insurance, it’s a bad idea to skimp on critical coverages to save a buck or two. There are many occasions where someone sacrificed liability coverage limits and found out when filing a claim that they should have had better coverage. Your aim should be to buy a smart amount of coverage at an affordable rate, but do not sacrifice coverage to save money.

Consumers change insurance companies for any number of reasons including policy cancellation, unfair underwriting practices, being labeled a high risk driver and an unsatisfactory settlement offer. Regardless of your reason for switching companies, choosing a new insurance company can be pretty painless.

Budget-conscious 2018 BMW 5 Series insurance is definitely available online in addition to many insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. There are still a few companies who may not have the ability to get quotes online and usually these smaller companies only sell through local independent agents.

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