2006 BMW 5 Series Insurance Quotes – 7 Tips to Save

Have you had enough of not being able to afford to pay high car insurance rates every month? You’re in the same situation as many other consumers. There are many auto insurance companies to purchase coverage from, and although it’s a good thing to have a choice, lots of choices makes it harder to compare company pricing.

It’s a great practice to compare rates as often as possible because car insurance prices go up and down regularly. If you had the lowest rate for 5 Series coverage two years ago other companies may now be cheaper. Block out anything you think you know about car insurance because you’re about to find out the quickest way to buy cheaper car insurance.

Buying car insurance is not rocket science. If you have a current auto insurance policy or need a new policy, you can use this information to get lower rates and possibly find even better coverage. Drivers just need to understand the most efficient way to compare price quotes on the web.

How to find cheap insurance coverage

Shopping for lower insurance coverage rates can take time and effort if you don’t understand the best way to get rate quotes. You can spend countless hours talking to agents in your area, or you could use online quotes to get prices fast.

Many insurance companies belong to an insurance system where prospective buyers only type in their quote data once, and at least one company provides a quote based on the submitted data. This eliminates the need for repetitive form submissions to each individual insurance coverage company.

To compare rates now click here (opens in new window).

The single downside to doing it this way is you cannot specify the providers to receive prices from. So if you prefer to choose from a list of companies to receive pricing from, we have assembled a list of companies who write insurance coverage in your area. Click here for list of insurance companies.

How you compare quotes is your choice, just be certain you are entering exactly the same coverages for every company. If you use higher or lower deductibles it will be very difficult to determine the lowest rate for your BMW 5 Series.

Don’t assume everyone needs the same auto insurance coverage

When choosing coverage, there really is not a single plan that fits everyone. Every situation is different so your insurance should reflect that For instance, these questions can help discover if your situation could use an agent’s help.

• Where can I find high-risk insurance?
• Will I be non-renewed for getting a DUI or other conviction?
• Do I need special endorsements for business use of my vehicle?
• Do I need replacement cost coverage on my 2006 BMW 5 Series?
• Am I covered when driving on a suspended license?
• Is my ex-spouse still covered by my policy?
• Is business property covered if stolen from my car?
• How can I get high-risk coverage after a DUI?
• Is my vehicle covered by my employer’s policy when using it for work?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you don’t have a local agent, complete this form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.

Insurance coverages explained

Understanding the coverages of a insurance policy aids in choosing the best coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. These are typical coverages found on the average insurance policy.

Coverage for collisions

This coverage pays to fix your vehicle from damage from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like crashing into a building, damaging your car on a curb, driving through your garage door and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible to bring the cost down.

Comprehensive auto coverage

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

Comprehensive can pay for claims such as rock chips in glass, hitting a bird, damage from getting keyed, hitting a deer and damage from flooding. The highest amount a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Auto liability insurance

Liability insurance will cover damage that occurs to a person or their property by causing an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 50/100/50 that translate to a limit of $50,000 per injured person, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.

Liability coverage protects against claims such as court costs, medical expenses and pain and suffering. How much coverage you buy is up to you, but consider buying as much as you can afford.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your 2006 BMW 5 Series.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance reimburse you for bills for ambulance fees, chiropractic care, surgery and pain medications. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage