Cheap 1994 BMW 5 Series Insurance Quotes

Locating better insurance prices for a BMW 5 Series can be a lot of work, but you can learn these tips to save time.

There are more efficient ways to buy insurance coverage so you’re going to learn the quickest way to get price quotes for a BMW and obtain the lowest price from both online companies and local agents.

If you have a policy now or need new coverage, you can follow these tips to reduce the price you pay while maximizing coverage. Buying more affordable coverage is easy if you know what you’re doing. Consumers just need to understand the tricks to compare prices over the internet.

Which insurance is cheapest?

Effectively comparing insurance prices can be a daunting task if you don’t utilize the easiest way. You could waste a few hours discussing policy coverages with insurance agencies in your area, or you can stay home and use the web to achieve your goal.

Most car insurance companies participate in an industry program that allows shoppers to enter their coverage request one time, and each company can provide price quotes determined by their information. This saves time by eliminating quotation requests for each company.

To compare rates using this form now click to open in new window.

The one downside to comparing rates this way is that you can’t choose which companies to get pricing from. If you prefer to choose specific insurance companies to compare rates, we have assembled a list of low cost insurance companies in your area. Click to view list.

It’s up to you how you get prices quotes, just make sure you are using the exact same coverage limits for each price quote. If your comparisons have different limits and deductibles on each one you will not be able to truly determine the lowest rate.

Reduce your insurance rates with discounts

Insurance is neither fun to buy or cheap, but you may be missing some discounts to help bring down the price. Some trigger automatically at the time of quoting, but some must be specially asked for in order for you to get them.

55 and Retired – Older drivers can get a discount up to 10% for 5 Series coverage.
Seat Belts Save – Requiring all passengers to wear their seat belts could save 15% off the PIP or medical payment premium.
Drive Safe and Save – Drivers who don’t get into accidents may save up to 50% more for 5 Series coverage compared to rates paid by drivers with frequent claims.
Federal Employees – Active or retired federal employment could qualify for a slight premium decrease for 5 Series coverage with a few insurance companies.
Bundle and Save – When you have multiple policies with the same company you will save at least 10 to 15 percent or more.
Theft Deterent System – Cars and trucks that have factory anti-theft systems are stolen less frequently and will save you 10% or more.
Own a Home and Save – Owning a house can save you money because of the fact that having a home is proof of financial responsibility.
Data Collection Discounts – Drivers who elect to allow data collection to look at driving manner by using a small device installed in their vehicle like Allstate’s Drivewise may see discounts if they show good driving skills.

Consumers should know that some credits don’t apply to the overall cost of the policy. Most only apply to individual premiums such as liability and collision coverage. So even though they make it sound like adding up those discounts means a free policy, that’s just not realistic.

Larger insurance companies and a selection of discounts are outlined below.

Esurance offers discounts for good driver, multi-car, online shopper, Switch & Save, Pac-12 alumni, DriveSense, and defensive driver.
The Hartford has savings for bundle, driver training, air bag, good student, defensive driver, and anti-theft.
AAA offers discounts including pay-in-full, multi-policy, good student, AAA membership discount, education and occupation, and good driver.
GEICO may include discounts for military active duty, seat belt use, anti-theft, emergency military deployment, federal employee, daytime running lights, and driver training.
State Farm includes discounts for multiple autos, anti-theft, Steer Clear safe driver discount, multiple policy, and good driver.

Before you buy a policy, ask all companies you are considering which discounts can lower your rates. Depending on the company, some discounts might not be available to policyholders in your state.

You are unique and your auto insurance should be too

When buying coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Each situation is unique.

For example, these questions could help you determine if you may require specific advice.

Does my liability insurance cover pulling a trailer or camper?
Is my BMW 5 Series covered if I use it for business?
How much underlying liability do I need for an umbrella policy?
Are my tools covered if they get stolen from my vehicle?
Is there coverage for injuries to my pets?
Should I have a commercial auto policy?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, simply complete this short form. It’s fast, free and can provide invaluable advice.

Auto insurance coverage information

Knowing the specifics of your policy can help you determine the right coverages and proper limits and deductibles. Insurance terms can be difficult to understand and reading a policy is terribly boring.

Liability insurance

Liability coverage can cover damage that occurs to people or other property. This coverage protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as structural damage, pain and suffering and attorney fees. The amount of liability coverage you purchase is up to you, but consider buying as large an amount as possible.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance kick in for immediate expenses like EMT expenses, prosthetic devices, X-ray expenses and nursing services. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover being hit by a car walking across the street. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Auto collision coverage

Collision insurance pays to fix your vehicle from damage resulting from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like hitting a mailbox, crashing into a ditch, backing into a parked car, sustaining damage from a pot hole and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Another option is to raise the deductible to save money on collision insurance.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your BMW 5 Series.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these coverages are similar to your liability insurance amounts.

Comprehensive coverage (or Other than Collision)

This pays for 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 can pay for claims like hitting a bird, fire damage, damage from getting keyed, damage from flooding and hitting a deer. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.