2014 BMW X5 Car Insurance Quotes

Searching for cheaper insurance rates for your BMW X5? Nobody I know cherishes buying insurance, in particular when they are paying too much.

Multiple auto insurance companies compete for your insurance dollar, and it can be difficult to compare rates to find the lowest rate

If you have car insurance now, you will most likely be able to reduce your rates substantially using these methods. Finding affordable coverage is quite easy. Nevertheless, car owners need to learn the methods companies use to compete online because it can help you find the best coverage.

Finding Auto Insurance

All the larger auto insurance companies allow you to get price estimates online. The process is pretty easy as you simply enter your personal and coverage information as detailed in the form. Once entered, the system collects information on your driving record and credit history and generates a price based on many factors. This streamlines rate comparisons, but the work required to visit each company’s website and repetitively complete many quote forms is repetitive and time-consuming. But it’s very important to do this in order to find the lowest price.

Compare rates the easy way

The quickest way to lower your auto insurance bill uses one simple form that gets prices from many companies. It’s a real time-saver, reduces the work, and makes online price comparison a little more enjoyable. As soon as the form is sent, it is quoted and you can choose any of the quotes that you receive. If a lower price is quoted, you can simply submit the application and buy the policy. It just takes a couple of minutes and you’ll know if lower rates are available.

To find out if lower rates are available, click here to open in a new tab and enter your vehicle and coverage information. If you have your current policy handy, we recommend that you enter the coverage information just like they are on your policy. This ensures you will have rate quotes based on similar coverages.

Do you qualify for discounts?

Auto insurance companies do not list all their discounts very well, so we researched some of the more common and the harder-to-find savings tricks you should be using.

  • Air Bag Discount – Cars that have air bags or motorized seat belts may earn rate discounts of 20% or more.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school.
  • Use Seat Belts – Drivers who require all occupants to wear their seat belts can save up to 15% off your medical payments premium.
  • Accident Waiver – A few companies will allow you to have one accident before your rates go up if you are claim-free for a certain period of time.
  • Good Student Discount – A discount for being a good student can earn a discount of 20% or more. The discount lasts well after school through age 25.
  • Memberships – Belonging to a professional or civic organization may earn a discount on your policy on X5 insurance.
  • Safe Drivers – Drivers who avoid accidents may save up to 50% more on X5 insurance than drivers with accident claims.
  • Employee of Federal Government – Active or retired federal employment may qualify you for a discount on X5 insurance with certain companies.
  • Save with a New Car – Buying coverage on a new vehicle can cost up to 25% less due to better safety requirements for new cars.
  • Life Insurance Discount – Some companies give better rates if you take out auto and life insurance together.

Drivers should understand that some credits don’t apply the the whole policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think all those discounts means the company will pay you, companies wouldn’t make money that way.

For a list of companies who offer car insurance discounts, follow this link.

Don’t assume everyone needs the same coverage

When it comes to buying coverage, there really is no one size fits all plan. Every situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that might point out if your insurance needs would benefit from an agent’s advice.

  • Am I covered when using my vehicle for business?
  • Do I need an umbrella policy?
  • If my 2014 BMW X5 is totaled, can I afford another vehicle?
  • What is covered by UM/UIM coverage?
  • Am I covered if I hit a deer?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Does my personal policy cover me when driving out-of-state?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • How do I buy GAP insurance?

If it’s difficult to answer those questions, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier

Why your BMW X5 insurance rates may be high

Consumers need to have an understanding of some of the elements that go into determining your auto insurance rates. When you know what positively or negatively controls the rates you pay helps enable you to make changes that could result in better auto insurance rates.

  • Liability coverage is peace of mind – Liability insurance is the coverage that protects you in the event that you are found to be at fault for causing damage or personal injury in an accident. Liability insurance provides you with a defense in court which can be incredibly expensive. Liability is cheap compared to physical damage coverage, so drivers should carry high limits.
  • Your occupation can affect rates – Occupations like lawyers, architects and stock brokers tend to have the highest rates in part from stressful work requirements and long work days. On the other hand, jobs such as actors, students and retirees receive lower rates on X5 insurance.
  • Cautious drivers pay less – Even a single ticket can increase rates forty percent or more. Good drivers have lower premiums than their less careful counterparts. Drivers who get dangerous violations such as DWI, reckless driving or hit and run convictions may be required to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.
  • Bundling policies can get discounts – Many companies will award you with lower prices to customers who consolidate policies with them. It’s known as a multi-policy discount. Discounts can be anywhere from five to ten percent in most cases. If you currently are using one company, it’s in your best interest to comparison shop to verify if the discount is saving money. You may still find better rates by buying auto insurance from a different company.
  • Extra coverages can waste money – There are many extra coverages that you can buy if you aren’t careful. Coverages like personal injury protection, towing coverage and additional equipment coverage may be wasting your money. They may seem good initially, but now you might not need them so get rid of them and save.

Ads can be misleading

Car insurance companies such as Progressive, Allstate and Geico regularly use television and radio advertisements. They all seem to make an identical promise that you’ll save big if you move to them. But how can every company make the same claim?

All the different companies are able to cherry pick for the right customer that earns them a profit. For example, a profitable customer could be over the age of 40, a clean driving record, and drives less than 10,000 miles a year. A driver who fits that profile gets the lowest rates and as a result will probably cut their rates substantially.

Potential insureds who don’t measure up to this ideal profile must pay higher premiums which usually ends up with business going elsewhere. The ads say “customers who switch” not “people who quote” save that kind of money. That’s why companies can make those claims. This illustrates why you need to quote coverage with many companies. Because you never know the company that will have the lowest BMW X5 insurance rates.

Insurance coverage specifics

Having a good grasp of insurance can be of help when determining the best coverages and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverage types offered by insurance companies.

Medical expense insurance

Medical payments and Personal Injury Protection insurance pay for bills like funeral costs, X-ray expenses and ambulance fees. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your 2014 BMW X5.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Collision coverage protection

Collision insurance pays for damage to your X5 resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for things such as backing into a parked car, rolling your car, sustaining damage from a pot hole, driving through your garage door and hitting a mailbox. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to increase the deductible to save money on collision insurance.

Liability coverages

This provides protection from damage or injury you incur to people or other property that is your fault. This insurance protects YOU against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against claims like bail bonds, repair bills for other people’s vehicles, medical expenses, attorney fees and medical services. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive (Other than Collision)

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like hitting a deer, falling objects, damage from flooding, hail damage and fire damage. The most you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

In Summary

When trying to cut insurance costs, it’s a bad idea to sacrifice coverage to reduce premiums. There are a lot of situations where someone sacrificed liability limits or collision coverage and discovered at claim time that it was a big mistake. Your focus should be to purchase plenty of coverage at the best price.

Cheaper 2014 BMW X5 insurance can be bought from both online companies as well as from independent agents, so compare prices from both in order to have the best price selection to choose from. Some insurance companies don’t offer the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

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