1997 BMW 5 Series Insurance Rates – 7 Tips for Best Quotes

Searching for cheaper auto insurance rates? Consumers have lots of choices when looking for the lowest priced BMW 5 Series insurance. They can either spend hours calling around to get rate comparisons or save time using the internet to make rate comparisons.

There is a better way to find auto insurance online so you’re going to learn the proper way to quote coverages for a new or used BMW and locate the lowest price from local insurance agents and online providers.

You should make it a habit to shop coverage around as often as possible because prices change regularly. If you had the best deal on 5 Series insurance a year ago there may be better deals available now. Forget all the misinformation about auto insurance because we’re going to demonstrate the things you must know in order to find the best coverage while lowering your premiums.

If you have a policy now or are looking for a new policy, you can use this information to cut your premiums and possibly find even better coverage. The purpose of this article is to instruct you on the most effective way to quote insurance and some tips to save money. Drivers just need to learn how to compare company rates online.

Low cost insurance coverage price quotes online

Most of the larger companies like Progressive, Allstate and GEICO provide coverage price quotes on their websites. Getting online rates doesn’t take much effort as you simply enter your coverage information as requested by the quote form. Once you submit the form, the quote system automatically orders your driving and credit reports and gives you a price quote based on the data you entered.

Online price quotes simplifies rate comparisons, but having to visit multiple sites and type in the same information can be a bit repetitive. But it’s also necessary to do this if you want to find lower prices.

A better way to lower your insurance coverage bill uses one simple form to obtain quotes from a bunch of companies at once. It’s a real time-saver, requires less work, and makes quoting online much easier to do. As soon as the form is sent, it is quoted and you can select any or none of the quotes that you receive.

If the quotes result in lower rates, you simply finish the application and buy the policy. It can be completed in a matter of minutes and can result in significant savings.

In order to compare rates now, click here to open in a new tab and complete the simple form. If you have coverage now, it’s recommended you replicate the limits and deductibles just like they are on your policy. Doing this assures you’re receiving a fair comparison for the exact same coverage.

Car insurance advertisements

Consumers constantly see and hear ads for car insurance savings by companies like Progressive, Allstate and GEICO. All the companies convey the message about savings if you just switch your coverage.

How does every car insurance company cost less than your current company?

Insurance companies give the cheapest rates for the type of driver that will most likely be profitable. For instance, a desirable insured could possibly be between 25 and 40, has never had a claim, and has a high credit rating. Any new insured who fits those characteristics will get low rates and will save when switching.

Drivers who may not quite match those standards will see higher prices and this results in the customer buying from a different company. The ad wording is “drivers that switch” but not “all drivers who get quotes” save that much money. That is how companies can make those statements.

Because of this risk profiling, drivers should compare many company’s auto insurance rates. You cannot predict the company that will provide you with the cheapest rates.

Do you qualify for discount car insurance?

Companies that sell car insurance don’t always publicize every available discount very clearly, so here is a list a few of the more common and the harder-to-find credits available to lower your premiums when you buy insurance online.

  • Discount for Multiple Policies – If you have multiple policies and insure them both with the same insurance company you will save at least 10% off all policies.
  • Include Life Insurance and Save – Companies who offer life insurance give a small discount if you purchase auto and life insurance together.
  • Own a Home – Just owning your own home can earn you a little savings because maintaining a house is proof that your finances are in order.
  • Senior Citizen Rates – Drivers over the age of 55 may qualify for a slight reduction on a insurance quote on 5 Series insurance.
  • Anti-lock Brakes – Cars, trucks, and SUVs equipped with ABS or steering control prevent accidents and will save you 10% or more.
  • Theft Deterent – Cars, trucks, and SUVs equipped with anti-theft or alarm systems help deter theft and earn discounts up to 10% off your insurance quote.
  • Distant College Student Discount – living away from home attending college and don’t have a car can receive lower rates.

As is typical with insurance, most discounts do not apply the the whole policy. Some only reduce the price of certain insurance coverages like comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, nobody gets a free ride.

A list of companies and some of the discounts are detailed below.

  • GEICO has savings for anti-lock brakes, multi-vehicle, defensive driver, seat belt use, driver training, and anti-theft.
  • Travelers offers discounts for student away at school, driver training, home ownership, hybrid/electric vehicle, and early quote.
  • Farm Bureau offers premium reductions for renewal discount, safe driver, good student, multi-policy, youthful driver, and multi-vehicle.
  • Liberty Mutual discounts include good student, exclusive group savings, new vehicle discount, multi-policy, hybrid vehicle, teen driver discount, and safety features.
  • American Family may offer discounts for defensive driver, early bird, multi-vehicle, Steer into Savings, TimeAway discount, good student, and air bags.
  • Progressive has discounts for good student, multi-policy, multi-vehicle, online signing, online quote discount, homeowner, and continuous coverage.

Before buying, ask each insurance company which discounts you qualify for. A few discounts may not be offered in your state. To view car insurance companies with discount car insurance rates, follow this link.

What insurance coverages do I need?

When it comes to buying the best auto insurance coverage for your vehicles, there really is no one size fits all plan. Your needs are not the same as everyone else’s.

These are some specific questions can help discover whether or not you will benefit from professional help.

  • Is a new car covered when I drive it off the dealer lot?
  • Do I need higher collision deductibles?
  • Do all my vehicles need collision coverage?
  • Am I covered if I drive in a foreign country?
  • Am I covered when using my vehicle for business?
  • Can I rate high risk drivers on liability-only vehicles?
  • Do I need motorclub coverage?

If you can’t answer these questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find an agent in your area, simply complete this short form. It’s fast, doesn’t cost anything and may give you better protection.

Auto insurance coverages

Learning about specific coverages of insurance can help you determine which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Uninsured and underinsured coverage

Your UM/UIM coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and damage to your BMW 5 Series.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Usually these limits are set the same as your liablity limits.

Collision coverage protection

Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things such as damaging your car on a curb, driving through your garage door and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.

Auto liability

This coverage provides protection from damage that occurs to a person or their property. It protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Occasionally you may see a combined limit which provides one coverage limit without having the split limit caps.

Liability insurance covers claims like attorney fees, court costs and bail bonds. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford.

Coverage for medical payments

Med pay and PIP coverage reimburse you for short-term medical expenses for doctor visits, surgery, X-ray expenses, chiropractic care and dental work. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to if you are hit as a while walking down the street. PIP coverage is not universally available and may carry a deductible

Comprehensive coverages

This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as a tree branch falling on your vehicle, vandalism, hitting a deer, theft and a broken windshield. The highest amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

What is YOUR best insurance company?

Insureds switch companies for many reasons like delays in paying claims, poor customer service, high prices or policy cancellation. Whatever your reason, choosing a new company can be pretty painless.

As you restructure your insurance plan, it’s a bad idea to buy lower coverage limits just to save a few bucks. In too many instances, an insured cut physical damage coverage only to discover later that the savings was not a smart move. Your objective should be to buy enough coverage at an affordable rate, not the least amount of coverage.

We just covered many tips how you can get a better price on 1997 BMW 5 Series insurance. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even discover the lowest priced insurance comes from some of the smallest insurance companies.

Much more information about insurance is available on the following sites: