How Much Does 2012 BMW 5 Series Car Insurance Cost?

Looking for lower insurance rates? Shoppers have many options when shopping for the best price on BMW 5 Series insurance. You can either spend your time struggling with agents getting price quotes or utilize the internet to make rate comparisons.

There are more efficient ways to buy insurance and we’ll show you the best way to compare rates for a new or used BMW and obtain the lowest possible price from both online companies and local agents.

It’s important to do price comparisons before your policy renews because insurance prices are usually higher with each renewal. Just because you found the lowest quotes for 5 Series insurance two years ago a different company probably has better rates today. Don’t believe everything you read about insurance online but by reading this article, you’re going to learn some proven techniques to find cheap insurance.

The best way we recommend to compare policy rates utilizes the fact most of the larger companies pay for the opportunity to give rate comparisons. The only thing you need to do is provide a small amount of information including your credit rating estimate, if you went to college, daily mileage, and types of safety features. The rating information is automatically sent to many highly-rated insurers and you will receive price estimates instantly.

These discounts can lower your insurance coverage rates

Insurance coverage is expensive, but you may be missing some discounts that you may not even know about. Many of these discounts will be applied automatically at the time of purchase, but a few need to be specifically requested prior to getting the savings.

  • Savings for New Vehicles – Buying a new car model may earn a small discount because newer vehicles have to meet stringent safety requirements.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to buckle up can save up to 15% on the premium charged for medical payments and/or PIP.
  • Drive Less and Save – Maintaining low annual mileage can qualify you for slightly better rates than normal.
  • Multiple Cars – Having multiple cars or trucks with one company can reduce rates for all insured vehicles.
  • Accident-Free Discounts – Drivers with accident-free driving histories can save substantially compared to drivers with a long claim history.

A quick disclaimer, most credits do not apply to the entire cost. Most only reduce individual premiums such as comp or med pay. Just because it seems like you could get a free insurance coverage policy, company stockholders wouldn’t be very happy.

A list of companies and a summarized list of policyholder discounts are detailed below.

  • GEICO policyholders can earn discounts including defensive driver, five-year accident-free, air bags, good student, membership and employees, and anti-lock brakes.
  • Mercury Insurance has discounts for location of vehicle, type of vehicle, professional/association, good student, good driver, anti-theft, and age of vehicle.
  • Farmers Insurance discounts include business and professional, alternative fuel, electronic funds transfer, switch companies, and multi-car.
  • Auto-Owners Insurance may include discounts for anti-theft, paperless, teen driver, air bags, and anti-lock brakes.
  • Liberty Mutual includes discounts for teen driver discount, multi-policy, exclusive group savings, safety features, multi-car, preferred payment discount, and newly married.
  • SAFECO offers premium reductions for teen safe driver, bundle discounts, drive less, accident prevention training, teen safety rewards, and multi-car.
  • Progressive offers discounts for homeowner, continuous coverage, multi-policy, good student, online quote discount, multi-vehicle, and online signing.
  • USAA has savings for annual mileage, multi-policy, family discount, good student, loyalty savings, and safe driver.

When quoting, ask every prospective company which discounts can lower your rates. A few discounts might not apply in your area.

Different people need different car insurance coverages

When it comes to choosing coverage for your vehicles, there is no cookie cutter policy. Every insured’s situation is different.

These are some specific questions might help in determining if you would benefit from an agent’s advice.

  • Do I need replacement cost coverage?
  • If I drive on a suspended license am I covered?
  • How many claims can I have before being cancelled?
  • Does liability extend to a camper or trailer?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered when delivering products for my home-based business?
  • Why do I need rental car insurance?

If you don’t know the answers to these questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, complete this form. It is quick, free and may give you better protection.

Auto insurance policy coverages for a BMW 5 Series

Understanding the coverages of your policy helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can change by endorsement.

Comprehensive protection – This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as rock chips in glass, hitting a deer and theft. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Medical expense coverage – Med pay and PIP coverage provide coverage for bills for things like chiropractic care, EMT expenses and pain medications. They can be utilized in addition to your health insurance program or if there is no health insurance coverage. They cover 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 but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your BMW 5 Series.

Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Frequently these limits are similar to your liability insurance amounts.

Collision – This pays for damage to your 5 Series from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like damaging your car on a curb, sideswiping another vehicle, hitting a mailbox and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Liability coverage – Liability insurance provides protection from injuries or damage you cause to people or other property. This coverage protects you from claims by other people. It does not cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined limit that pays claims from the same limit without having the split limit caps.

Liability can pay for claims like emergency aid, pain and suffering and structural damage. 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.

One last thing about your coverage

We covered some good ideas how you can reduce 2012 BMW 5 Series insurance premium rates online. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even find the most savings is with a company that doesn’t do a lot of advertising.

Cheap 2012 BMW 5 Series insurance is attainable on the web as well as from insurance agents, and you should be comparing both to have the best selection. Some companies may not provide the ability to get quotes online and these smaller companies only sell through independent insurance agents.

Consumers who switch companies do it for a number of reasons such as high prices, questionable increases in premium, denial of a claim and lack of trust in their agent. Regardless of your reason for switching companies, switching insurance coverage companies is not as hard as you think.

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