How Much Does 2007 BMW 5 Series Car Insurance Cost?

Shoppers have many options when shopping for low-cost BMW 5 Series insurance. You can either spend your time contacting agents getting price quotes or utilize the internet to make rate comparisons.

There is a better way to compare auto insurance rates and we’ll show you the quickest way to quote coverages for a new or used BMW and obtain the lowest possible price from local insurance agents and online providers.

Consumers should take time to take a look at other company’s rates before your policy renews because auto insurance prices are adjusted regularly by insurance companies. If you had the lowest price on 5 Series coverage two years ago you can probably find a better rate now. Forget all the misinformation about auto insurance because I’m going to teach you the easiest way to save money, get proper coverage and the best rates.

How to shop auto insurance online

There are a variety of methods to shop for auto insurance, but some are less time-consuming than others. You can waste a few hours (or days) talking to insurance agencies in your area, or you could save time and use the internet to get rate comparisons in just a few minutes.

Many insurance companies participate in an industry program that allows shoppers to only type in their quote data once, and every company then gives them pricing based on that data. This prevents consumers from doing quotation requests for each company.

To fill out one form to compare multiple rates now click to open in new window.

The only downside to using this type of form is you cannot specify which insurance companies you want to price. So if you want to select individual companies to compare rates, we have assembled a list of auto insurance companies in your area. Click to view list.

You can use whichever method you prefer to find lower rates, just ensure you’re using exactly the same quote information with every price quote. If you compare different limits and deductibles on each one you will not be able to decipher which rate is best.

Insurance coverage rates and discounts

Companies that sell car insurance don’t always list all available discounts very well, so we break down a few of the more well known and the more hidden savings tricks you should be using when you buy car insurance online.

  • Seat Belts Save – Drivers who always wear seat belts and also require passengers to use a seat belt could save 15% off the PIP or medical payment premium.
  • Life Insurance Discount – Larger companies have lower rates if you buy life insurance from them.
  • Sign Online – Some of the larger companies give back up to $50 simply for signing on your computer.
  • Drivers Education – It’s a good idea to have your young drivers successfully complete driver’s ed class if offered at their school.
  • Save with a New Car – Buying a new car model is cheaper since new model year vehicles have better safety ratings.

One thing to note about discounts is that most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like medical payments or collision. So even though you would think it’s possible to get free car insurance, it’s just not the way it works.

Popular insurance coverage companies and a summarized list of policyholder discounts are:

  • GEICO has savings for multi-policy, five-year accident-free, membership and employees, federal employee, multi-vehicle, driver training, and anti-lock brakes.
  • Travelers may offer discounts for payment discounts, home ownership, continuous insurance, hybrid/electric vehicle, and save driver.
  • Farm Bureau may include discounts for driver training, safe driver, good student, 55 and retired, multi-vehicle, and multi-policy.
  • Liberty Mutual includes discounts for new move discount, safety features, preferred payment discount, good student, and teen driver discount.
  • American Family offers discounts including early bird, defensive driver, TimeAway discount, mySafetyValet, Steer into Savings, and good driver.
  • Progressive policyholders can earn discounts including good student, multi-policy, continuous coverage, multi-vehicle, online signing, and online quote discount.

Before purchasing a policy, check with each insurance company what discounts are available to you. Some credits might not be offered on policies in your area. To see providers who offer cheap insurance coverage quotes, click this link.

Situations that may require an agent’s advice

When it comes to buying the best car insurance coverage for your vehicles, there really is not a perfect coverage plan. Everyone’s situation is a little different.

These are some specific questions might point out if your insurance needs will benefit from professional help.

  • Does insurance cover damages from a DUI accident?
  • When should I buy a commercial auto policy?
  • Do all my vehicles need collision coverage?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I have coverage for damage caused while driving under the influence?
  • How high should my medical payments coverage be?
  • How high should deductibles be on a 2007 BMW 5 Series?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, fill out this quick form. It’s fast, doesn’t cost anything and can provide invaluable advice.

Auto insurance coverage specifics

Knowing the specifics of auto insurance can help you determine appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and even agents have difficulty translating policy wording.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 5 Series.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Comprehensive coverages – Comprehensive insurance covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as hitting a deer, a broken windshield, hitting a bird and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision coverages – Collision coverage pays for damage to your 5 Series caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like sideswiping another vehicle, driving through your garage door, rolling your car and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from older vehicles. You can also bump up the deductible to bring the cost down.

Coverage for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for things like surgery, X-ray expenses and funeral costs. They are often utilized in addition to your health insurance plan or if you lack health insurance entirely. It covers all vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible

Liability coverage – Liability insurance can cover injuries or damage you cause to other’s property or people by causing an accident. It protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability insurance covers things such as emergency aid, court costs and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.

Keep this in mind

We covered some good ideas how to save on 2007 BMW 5 Series insurance. The key concept to understand is the more price quotes you have, the higher your chance of finding cheap car insurance. You may be surprised to find that the best price on auto insurance is with some of the lesser-known companies.

Budget-conscious 2007 BMW 5 Series insurance is definitely available on the web in addition to many insurance agents, and you should be comparing both to have the best selection. Some auto insurance companies don’t offer online price quotes and usually these smaller companies prefer to sell through local independent agencies.

People who switch companies do it for a variety of reasons including policy non-renewal, delays in paying claims, not issuing a premium refund or even lack of trust in their agent. Whatever your reason, finding a great new company can be easier than you think.

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