Compare 2014 BMW 5 Series Car Insurance Quotes

Trying to find the cheapest insurance coverage rates for your BMW 5 Series? Price shopping your Driversinsurance coverage is always hard for people who are beginners to shopping for insurance online. Drivers have so many agents and companies to choose from that it can be a real hassle to find the perfect company for you.

You need to get comparison quotes periodically because prices are usually higher with each renewal. Even if you got the best deal on 5 Series coverage a few years ago you may be paying too much now. There is a lot of bad advice regarding insurance coverage on the internet, but we’re going to give you a bunch of ideas how to reduce your insurance coverage bill.

How much is auto insurance?

There are several ways to compare auto insurance quotes, but there is one way that is more efficient than others. You can waste a few hours (or days) talking about coverages with insurance agencies in your area, or you could use online quotes to maximize your effort.

Most of the best insurance companies are enrolled in a marketplace where insurance shoppers submit their information once, and at least one company then gives them pricing based on the submitted data. This system prevents you from having to do quote forms to each company. To compare pricing click here to start a free quote.

The only downside to doing it this way is you don’t know exactly the companies to get pricing from. If you wish to select from a list of companies to compare, we have a page of auto insurance companies in your area. Click here for list of insurance companies.

Compare rates however you want, just compare exactly the same quote data on every quote you get. If each company quotes unequal deductibles or liability limits it will be next to impossible to make a fair rate comparison. Even a minor difference in insurance coverages may cause a big price difference. Just remember that comparing more quotes helps increase your odds of locating more affordable rates. Some smaller insurers to not give online quotes, so you also need to get price quotes from them as well.

Get lower rates by applying discounts

The price of auto insurance can be rather high, but you may find discounts that can help lower your rates. Some of these disounts will be visible when you get a quote, but a few must be requested specifically before you get the savings. If you check and find you aren’t receiving every discount you qualify for, you are throwing money away.

  • Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to use their safety belts could save 15% off the personal injury premium cost.
  • Pay Upfront and Save – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
  • Discount for Good Grades – This discount can be rewarded with saving of up to 25%. This discount can apply up to age 25.
  • Savings for New Vehicles – Buying insurance coverage on a new vehicle may earn a small discount because newer vehicles keep occupants safer.
  • Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease on 5 Series coverage but check with your company.
  • No Accidents – Drivers who don’t have accidents pay less when compared to policyholders that have many claims.
  • Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them sucessfully take a drivers education course if offered at their school.
  • Membership in Organizations – Participating in certain professional organizations could earn you a nice discount on your next renewal.

It’s important to understand that some credits don’t apply to the entire policy premium. Some only reduce individual premiums such as physical damage coverage or medical payments. So even though you would think all those discounts means the company will pay you, it’s just not the way it works.

To find insurers that offer discounts, click this link.

Your insurance coverage should be tailored to you

When buying the right insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Every insured’s situation is different.

For example, these questions might help in determining whether or not you would benefit from an agent’s advice.

  • Should I drop comprehensive coverage on older vehicles?
  • What is the difference between comprehensive and collision coverage?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Is my BMW 5 Series covered if I use it for business?
  • Am I covered by my spouse’s policy after a separation?
  • Will my rates increase for filing one claim?
  • If my pet gets injured in an accident are they covered?

If you’re not sure about those questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form.

Auto insurance 101

Understanding the coverages of your policy can help you determine the right coverages for your vehicles. The terms used in a policy can be impossible to understand and reading a policy is terribly boring.

Liability coverage

This can cover damage or injury you incur to people or other property. This insurance protects YOU from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 50/100/50 which stand for a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against claims such as repair costs for stationary objects, bail bonds and court costs. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Comprehensive (Other than Collision)

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like falling objects, theft and damage from getting keyed. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Collision coverage protection

Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as scraping a guard rail, sideswiping another vehicle, rolling your car, hitting a parking meter and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Another option is to bump up the deductible to save money on collision insurance.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and damage to your BMW 5 Series.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally the UM/UIM limits are set the same as your liablity limits.

Medical expense insurance

Med pay and PIP coverage reimburse you for immediate expenses for things like dental work, surgery, prosthetic devices, hospital visits and chiropractic care. They are often used in conjunction with a health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Keep this in mind

When buying insurance coverage, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where someone sacrificed full coverage and found out when filing a claim that they should have had better coverage. Your focus should be to buy enough coverage for the lowest price, not the least amount of coverage.

Insureds switch companies for a number of reasons such as unfair underwriting practices, policy non-renewal, questionable increases in premium or extreme rates for teen drivers. It doesn’t matter why you want to switch finding a new auto insurance company can be less work than you think.

Lower-priced auto insurance can be found both online in addition to local insurance agencies, so you should compare both to have the best selection. A few companies may not have internet price quotes and usually these regional carriers sell through independent agencies.

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