2013 BMW 5 Series Insurance Rates

Trying to find lower auto insurance rates for your BMW 5 Series? Wish you could get a refund on an overpriced auto insurance policy? Trust us, you’re not the only one. You have so many insurance companies to purchase coverage from, and although it’s a good thing to have a choice, it can be more challenging to locate the cheapest rates.

It’s a good habit to do rate comparisons on a regular basis since insurance prices are variable and change quite frequently. Even if you think you had the best quotes for 5 Series insurance six months ago you can probably find a lower rate today. Forget all the misinformation about auto insurance because we’re going to demonstrate the only way to find the best coverage while lowering your premiums.

First Step: Get free car insurance quotes

There are several ways to shop for car insurance, and some are easier and takes less work. You could spend your day talking about coverages with agents in your area, or you can stay home and use the web to quickly compare rates.

The majority of car insurance companies enroll in a system where prospective buyers enter their coverage request one time, and every company then returns a price quote for coverage. This eliminates the need for form submissions for each company.

To fill out one form to compare multiple rates now click here (opens in new window).

The single downside to doing it this way is that consumers can’t choose which providers you want to price. If you would rather choose individual companies for rate comparison, we have assembled a list of car insurance companies in your area. Click here for list of insurance companies.

It’s up to you which method you use, but try to keep equivalent coverage limits and deductibles on every quote. If you are comparing different coverage information you will not be able to decipher which rate is best.

Cut your insurance rates with discounts

Companies do not list every policy discount in a way that’s easy to find, so the list below gives a summary of a few of the more common and also the lesser-known credits that may apply to you.

  • Good Grades Discount – This discount can save 20 to 25%. Many companies even apply the discount to college students until age 25.
  • Discounts for Government Workers – Simply working for the federal government may reduce rates when you quote car insurance for 5 Series insurance with some insurance companies.
  • Discounts for Safe Drivers – Insureds who avoid accidents can get discounts for up to 45% lower rates for 5 Series insurance than drivers with accidents.
  • Accident Free – Drivers with accident-free driving histories can save substantially when compared to drivers who are more careless.
  • Air Bags and Passive Restraints – Options like air bags may earn rate discounts of 25 to 30%.
  • Multi-policy Discount – If you insure your home and vehicles and insure them both with the same insurance company you could earn a discount of up to 20% off your total premium.
  • Full Payment Discount – By paying your entire bill at once rather than paying in monthly installments you can actually save on your bill.
  • Membership in Organizations – Having an affiliation with a qualifying organization can get you a small discount on your next insurance statement.

Please keep in mind that some credits don’t apply to the overall cost of the policy. Most only apply to specific coverage prices like physical damage coverage or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, insurance companies aren’t that generous.

The best insurance companies and the discounts they provide can be found below.

  • GEICO may have discounts that include membership and employees, federal employee, multi-policy, multi-vehicle, military active duty, and anti-lock brakes.
  • Mercury Insurance offers discounts for ease of repair, type of vehicle, annual mileage, multi-car, professional/association, anti-theft, and good student.
  • Farmers Insurance discounts include electronic funds transfer, alternative fuel, business and professional, teen driver, mature driver, youthful driver, and distant student.
  • Auto-Owners Insurance policyholders can earn discounts including paid in full, company car, multi-policy, mature driver, good student, student away at school, and anti-theft.
  • Liberty Mutual has discounts for newly married, teen driver discount, new vehicle discount, exclusive group savings, hybrid vehicle, preferred payment discount, and multi-policy.
  • SAFECO may include discounts for bundle discounts, anti-lock brakes, safe driver, multi-car, homeowner, and accident prevention training.
  • Progressive offers discounts including multi-vehicle, online quote discount, good student, multi-policy, and continuous coverage.
  • USAA has savings for family discount, annual mileage, multi-policy, safe driver, new vehicle, and defensive driver.

Before purchasing a policy, check with each insurance company which discounts you qualify for. A few discounts might not be offered in your area. To see insurers with the best insurance discounts, click here to view.

You are unique and your insurance coverage should be too

When buying adequate coverage, there isn’t really a best way to insure your cars. Everyone’s needs are different so this has to be addressed. Here are some questions about coverages that might point out whether you would benefit from professional advice.

  • Should I drop comprehensive coverage on older vehicles?
  • I have a DUI can I still get coverage?
  • Do I really need UM/UIM coverage?
  • Is a fancy paint job covered?
  • Is motorclub coverage worth it?
  • What vehicles should carry emergency assistance coverage?
  • What is UM/UIM insurance?
  • Can I afford low physical damage deductibles?
  • What is the ISO rating for a 2013 BMW 5 Series?

If it’s difficult to answer those questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.

Car insurance coverage specifics

Learning about specific coverages of your policy can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and coverage can change by endorsement. Shown next are the normal coverages available from car insurance companies.

Comprehensive or Other Than Collision

This covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like a tree branch falling on your vehicle, rock chips in glass, fire damage, hitting a deer and damage from flooding. The highest amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Auto collision coverage

This coverage pays for damage to your 5 Series resulting from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like sideswiping another vehicle, crashing into a ditch, crashing into a building and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible in order to get cheaper collision rates.

Medical costs insurance

Med pay and PIP coverage kick in for short-term medical expenses like dental work, rehabilitation expenses, doctor visits, ambulance fees and pain medications. They are often utilized in addition to your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family as well as damage to your BMW 5 Series.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these limits are similar to your liability insurance amounts.

Coverage for liability

Liability coverage can cover damage that occurs to other’s property or people in an accident. It protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for things like medical services, legal defense fees, medical expenses, funeral expenses and attorney fees. The amount of liability coverage you purchase is your choice, but you should buy as high a limit as you can afford.

Be Smart and Buy Smart

When searching for cheaper car insurance quotes, you should never buy poor coverage just to save money. Too many times, an insured dropped uninsured motorist or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase a proper amount of coverage at the best cost while still protecting your assets.

Cheaper insurance is attainable online and with local insurance agents, and you should be comparing both to get a complete price analysis. Some companies may not have online quoting and usually these small, regional companies work with independent agents.

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