2010 BMW 5 Series Insurance Cost – 5 Ideas for Best Prices

Want the cheapest car insurance rates? Drivers have options when trying to find low-cost BMW 5 Series insurance. They can either spend hours struggling with agents trying to get quotes or leverage the internet to get rate quotes. There is a right way and a wrong way to compare car insurance rates and you need to know the best way to price shop coverage for a BMW and get the lowest price.

Shop insurance coverage online

All the larger insurance coverage companies make it easy to get price estimates online. The process doesn’t take much effort as you simply type in the coverage amounts you desire into the form. Behind the scenes, their rating system collects your driving and credit reports and returns pricing information determined by many factors.

Online quotes streamlines rate comparisons, but the work required to visit several different sites and type in the same data can be a bit tiresome and repetitive. Unfortunately, it is important to get many rate quotes in order to find lower prices.

The preferred way to get multiple rate quotes requires only one form that gets prices from multiple companies. The form is fast, reduces the work, and makes online quotes much easier. After your information is entered, it is rated and you are able to buy any one of the price quotes you receive. If you find a better price you can click and sign and purchase coverage. The entire process just takes a couple of minutes and could lower your rates considerably.

To find out how much you’re overpaying now, click here to open in a new tab and input your coverage information. If you have coverage now, it’s recommended you copy coverages and limits as close as possible to your current policy. This guarantees you will have a rate comparison based on similar coverages.

Discount insurance rates

Some providers don’t list all their discounts very clearly, so here is a list some of the more common and also the lesser-known insurance savings.

  • No Charge for an Accident – Not necessarily a discount, but companies like State Farm and Progressive permit an accident before your rates go up with the catch being you have to be claim-free for a particular time prior to the accident.
  • Organization Discounts – Having an affiliation with a professional or civic organization can get you a small discount on your bill.
  • Anti-theft Discount – Vehicles optioned with advanced anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • Defensive Driving Course – Taking time to complete a course in driver safety could save 5% or more and also improve your driving technique.
  • Student Discounts – Being a good student can get you a discount of up to 25%. Most companies allow this discount until age 25.

One last thing about discounts, most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as medical payments or collision. Just because you may think you could get a free insurance policy, it doesn’t quite work that way. Any qualifying discounts will definitely reduce your policy cost.

Companies and some of the premium reductions they offer are outlined below.

  • Travelers offers discounts including home ownership, continuous insurance, good student, payment discounts, and hybrid/electric vehicle.
  • 21st Century offers premium reductions for teen driver, 55 and older, theft prevention, homeowners, and air bags.
  • State Farm may offer discounts for good driver, multiple policy, Steer Clear safe driver discount, student away at school, good student, and accident-free.
  • GEICO may include discounts for anti-lock brakes, air bags, seat belt use, daytime running lights, and military active duty.
  • SAFECO has discounts for anti-lock brakes, anti-theft, safe driver, homeowner, drive less, and teen safety rewards.
  • AAA policyholders can earn discounts including education and occupation, multi-car, multi-policy, AAA membership discount, and good driver.

When getting free insurance coverage quotes, it’s a good idea to every company which discounts can lower your rates. Depending on the company, some discounts might not be offered in your area. For a list of insurance companies with the best discounts, click this link.

Tailor your insurance coverage to you

When it comes to buying coverage for your vehicles, there is no cookie cutter policy. Each situation is unique.

These are some specific questions can aid in determining whether you could use an agent’s help.

  • Can I still get insurance after a DUI?
  • Can I rate high risk drivers on liability-only vehicles?
  • Am I covered when driving in Canada or Mexico?
  • Who is covered by my policy?
  • Is my teenager covered with friends in the car?
  • Why am I required to buy high-risk coverage?
  • Should I carry comprehensive and collision coverage?
  • Should I have combined single limit or split liability limits?

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 agent. To find an agent in your area, complete this form. It’s fast, free and may give you better protection.

Auto insurance coverage information

Learning about specific coverages of auto insurance can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage provides protection when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your BMW 5 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Collision insurance

This pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims such as hitting a mailbox, colliding with a tree, driving through your garage door and crashing into a building. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.

Comprehensive insurance

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as vandalism, hail damage, fire damage, damage from flooding and hitting a bird. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance reimburse you for expenses for rehabilitation expenses, doctor visits, hospital visits and pain medications. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is not universally available and gives slightly broader coverage than med pay

Liability auto insurance

This can cover damage that occurs to other’s property or people that is your fault. This insurance protects YOU from legal claims by others. 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. As an example, you may have limits of 100/300/100 that translate to $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability can pay for things such as attorney fees, pain and suffering, legal defense fees, repair bills for other people’s vehicles and repair costs for stationary objects. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

Shop smart and save

We’ve covered many ways to reduce 2010 BMW 5 Series insurance prices online. The key concept to understand is the more rate comparisons you have, the better your comparison will be. You may even find the most savings is with a small mutual company.

Insureds who switch companies do it for any number of reasons including policy non-renewal, high prices, delays in responding to claim requests or even questionable increases in premium. It doesn’t matter why you want to switch finding a new auto insurance company is pretty easy and you might even save some money in the process.

Some insurance companies do not offer online rate quotes and many times these small insurance companies work with local independent agencies. Cheaper 2010 BMW 5 Series insurance is possible from both online companies and from local insurance agents, and you need to comparison shop both so you have a total pricing picture.

Much more information about auto insurance can be read at the links below