2015 BMW 5 Series Insurance Quotes

Looking for cheaper auto insurance rates for your BMW 5 Series? Finding cheaper insurance for your BMW 5 Series can turn out to be an all-consuming task, but you can use our auto insurance buying tips to make it easier. There is a better way to compare auto insurance rates and we’ll show you the proper way to quote coverages for your BMW and find the best price possible from local insurance agents and online providers.

It’s a good habit to do rate comparisons once or twice a year since insurance rates change frequently. Just because you had the best deal on 5 Series coverage two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about auto insurance because you’re about to find out the best way to properly buy coverages while reducing your premium.

Finding Insurance Deals

Getting better 2015 BMW 5 Series insurance pricing can be surprisingly simple. Drivers just need to take time comparing rate quotes online with multiple companies. This can be done in a couple of different ways.

  1. The recommended way consumers can make multiple comparisons is to use a rate comparison form like this one (opens in new window). This form prevents you from having to do separate quotes for each company. In just a few minutes this one form gets you price quotes from many national carriers. Recommended for those who want to invest the least amount of time.
  2. A different way to get quotes online requires a trip to the website for every company you want to comare and request a quote. For example, let’s say you want to compare Liberty Mutual, Safeco and Allstate. You would have to spend time on each company’s site to input your insurance information, which is why the first method is quicker.

    To view a list of companies in your area, click here.

  3. The most time-consuming method of getting rate comparisons is driving around to local insurance agencies. Shopping for insurance online makes this process obsolete unless you want the personal advice of a local agent. It is possible to obtain prices from the web and still use a local agent and you’ll learn how to do that later.

It’s your choice how you get your quotes, but compare exactly the same coverage information for each comparison quote. If you enter different values for each quote it’s impossible to make an equal comparison.

Policy discounts you shouldn’t miss

Companies offering auto insurance don’t always publicize every discount in an easy-to-find place, so the following is a list of both well-publicized and the more hidden savings tricks you should be using. If they aren’t giving you every credit you deserve, you are throwing money away.

  • College Student – Any of your kids living away from home attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles prevent accidents and will save you 10% or more.
  • No Claims – Claim-free drivers pay less compared to frequent claim filers.
  • Employee of Federal Government – Employees or retirees of the government could cut as much as 10% off on 5 Series coverage with select insurance companies.
  • Pay Upfront and Save – If you pay your entire premium ahead of time instead of making monthly payments you could save up to 5%.
  • Multiple Vehicles – Insuring multiple vehicles on the same car insurance policy could earn a price break for each car.
  • Save over 55 – Older drivers can possibly qualify for reduced rates on 5 Series coverage.
  • Seat Belts Save – Requiring all passengers to wear their seat belts can save 10% or more off the personal injury premium cost.
  • Early Switch Discount – Some insurance companies reward drivers for switching to them before your current policy expires. It’s a savings of about 10%.

It’s important to note that most credits do not apply the the whole policy. Most only cut the price of certain insurance coverages like comp or med pay. So even though it sounds like all those discounts means the company will pay you, companies don’t profit that way.

To see a list of companies with the best car insurance discounts, click here.

Why you might be paying too much to insure your BMW 5 Series

An important part of buying insurance is that you know some of the elements that play a part in calculating insurance rates. Having a good understanding of what determines base rates allows you to make educated decisions that could result in better insurance rates.

  • Liability coverage is peace of mind – Your policy’s liability coverage is the protection if ever a jury decides you are liable for causing damage or personal injury in an accident. It will provide legal defense coverage which can be incredibly expensive. This coverage is very inexpensive as compared to coverage for physical damage, so drivers should carry high limits.
  • Lower miles equals lower premium – The higher the mileage driven in a year’s time the higher your rates will be. Most companies rate vehicles based on how the vehicle is used. Cars not used for work or commuting receive lower rates than those used for commuting. An improperly rated 5 Series can cost quite a bit. Ask your agent if your insurance declarations sheet properly reflects the correct usage for each vehicle, because improper ratings can cost you money.
  • Where you live can impact rates – Choosing to live in a small town has it’s advantages when buying insurance. Urban drivers tend to have congested traffic and longer commutes to work. Fewer drivers means reduced accidents and a lower car theft rate.
  • Males pay more for insurance – The statistics show women are more cautious behind the wheel. However, this does not mean men are worse drivers. They both have accidents in similar numbers, but men have costlier accidents. Men also get more serious tickets like reckless driving and DUI. Youthful male drivers are the most expensive to insure and therefore are the most expensive to insure.

Insurance agents can help

When it comes to choosing adequate coverage for your personal vehicles, there is no cookie cutter policy. Everyone’s situation is unique.

For example, these questions can help discover if your situation could use an agent’s help.

  • Why am I required to get a high-risk car insurance policy?
  • Do I need motorclub coverage?
  • What if I owe more than I can insure my car for?
  • Am I covered when driving on a suspended license?
  • Where can I get insurance after a DUI in my state?
  • Are all vehicle passengers covered by medical payments coverage?
  • Is my camper covered by my car insurance policy?
  • Can my teen drive my company car?
  • Should I put collision coverage on all my vehicles?
  • I don’t drive much so do I pay less?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form. It’s fast, doesn’t cost anything and you can get the answers you need.

Insurance coverage considerations

Understanding the coverages of your insurance policy can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring.

Comprehensive insurance

Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from getting keyed, a broken windshield, fire damage and hitting a deer. The maximum amount your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability insurance

This will cover damage that occurs to other’s property or people that is your fault. It protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against things like repair costs for stationary objects, bail bonds and attorney fees. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.

Coverage for uninsured or underinsured drivers

This gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Collision insurance

This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as driving through your garage door, rolling your car, crashing into a ditch and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for things like doctor visits, dental work and surgery. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay

A penny saved is a penny earned

Insureds leave their current company for many reasons like extreme rates for teen drivers, questionable increases in premium, high prices or delays in responding to claim requests. It doesn’t matter why you want to switch finding a great new company is not as hard as you think.

Discount 2015 BMW 5 Series insurance is possible both online as well as from independent agents, so compare prices from both in order to have the best price selection to choose from. There are still a few companies who don’t offer online price quotes and most of the time these small, regional companies sell through independent agents.

We’ve covered a lot of ways to compare insurance prices online. It’s most important to understand that the more providers you compare, the higher the chance of saving money. Consumers may even find the best price on car insurance is with a company that doesn’t do a lot of advertising.

For more information, feel free to browse the following helpful articles: