BMW X5 Owners Learn the Lowest Car Insurance Rates

Buyers have options when searching for low-cost BMW X5 insurance. They can either spend hours struggling with agents to compare prices or leverage the internet to get rate quotes. There are both good and bad ways to find car insurance online so we’re going to tell you the best way to quote coverages for a BMW and get the lowest price either online or from local insurance agents.

If you have a policy now or need new coverage, you can use these tips to cut your premiums while maintaining coverages. The purpose of this post is to instruct you on the most effective way to quote insurance and some tricks to saving. Consumers just need to learn the most effective way to shop their coverage around over the internet.

How to Compare Car Insurance Rates

Cutting your car insurance rates is not rocket science. Just invest a little time to compare rate quotes provided by online insurance companies. This can be done using a couple different methods.

  • One of the best ways to find low rates is to use a rate comparison form click here to open form in new window. This type of form keeps you from doing repetitive form submissions for each company. One form gets you coverage quotes from all major companies. It’s definitely the quickest method.
  • A slightly less efficient method to find lower rates consists of going to each company website to complete their respective quote request forms. For examples sake, let’s say you want to compare rates from Allstate, Farmers and Liberty Mutual. To find out each rate you need to visit each site and enter your information, which is why most consumers use the first method.

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

  • The most time-consuming way of getting rate comparisons is driving to and from local insurance agencies. Shopping for car insurance online eliminates the need for an insurance agent unless you have a need for the trained guidance that only a license agent can provide. You can, however, comparison shop online and still use a local agent. We’ll cover that shortly.

Whichever way you use, make sure you use identical coverages for every company. If each company quotes higher or lower deductibles it will be impossible to make an equal comparison.

Factors determining your BMW X5 insurance premium

Consumers need to have an understanding of the rating factors that help determine the rates you pay for car insurance. Knowing what impacts premium levels allows you to make educated decisions that could result in better car insurance rates.

The following are a few of the “ingredients” companies use to determine premiums.

  • Add-on coverages can add up – There are many additional coverages that you can buy on your car insurance policy. Coverages like rental car reimbursement, towing coverage and additional equipment coverage may be costing you every month. They may seem good initially, but now you might not need them so get rid of them and save.
  • Pay less after the wedding – Getting married can get you a discount on your policy. Having a spouse usually means you are more mature and it’s statistically proven that married drivers get in fewer accidents.
  • Men pay higher rates – Statistics demonstrate women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. Women and men tend to get into accidents in similar percentages, but the males tend to have more serious accidents. They also get more serious tickets like reckless driving and DUI.
  • Increase deductibles and save – Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your BMW. Some examples of claims that would be covered are colliding with a building, collision with an animal, and rolling your vehicle. The deductibles are how much you are required to spend before a claim is paid by your company. The higher the amount the insured has to pay upfront, the less your car insurance will be for X5 coverage.
  • Where you live – Choosing to live in a small town has it’s advantages when buying car insurance. City drivers tend to have congested traffic and longer commutes to work. Fewer people means fewer accidents.
  • Claim-free discounts can add up – If you tend to file frequent claims, you can pretty much guarantee either a policy non-renewal or much higher rates. Insurance companies generally give discounts to people who do not file claims often. Auto insurance is intended for the large, substantial claims.
  • Multi-policy discounts can save money – Most insurance companies give discounts to people who have multiple policies with them such as combining an auto and homeowners policy. This can amount to 10 percent or more. Even though this discount sounds good, you still need to compare other company rates to make sure you are getting the best deal.

Don’t pay full price with these discounts

Companies that sell car insurance do not advertise every discount very clearly, so we break down some of the more common and the harder-to-find discounts you could be receiving. If you’re not getting every credit available, you’re just leaving money on the table.

  • Driver’s Ed – Have your child successfully complete driver’s ed class if offered at their school.
  • Safe Driver Discount – Drivers who don’t get into accidents may save up to 50% more for X5 coverage than their less cautious counterparts.
  • Paperless Signup – Some insurance companies will discount your bill up to fifty bucks for buying a policy and signing up on their website.
  • 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums for X5 coverage.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and earn discounts up to 10%.
  • Distant Student – Any of your kids who live away from home without a vehicle on campus may be able to be covered for less.
  • Accident Free – Good drivers with no accidents pay less when compared to bad drivers.

As a disclaimer on discounts, some credits don’t apply to all coverage premiums. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. Even though it may seem like adding up those discounts means a free policy, it just doesn’t work that way.

To choose insurance companies who offer car insurance discounts, click here.

Buying car insurance from a local agent

Some people would prefer to buy from a local agent. Agents can point out coverage gaps and help submit paperwork. The biggest benefit of comparing insurance prices online is you can get the best rates and still choose a local agent.

Upon completion of this form (opens in new window), your information is emailed to companies who will battle for your insurance coverage. You won’t need to even leave your home since price quotes are sent to the email address you provide. Now that’s easy!

Picking an insurer should depend on more than just a low price. Any agent should be forthright in answering these questions:

  • Do they review policy coverages at every renewal?
  • Do they assist clients in filing claims?
  • Do they have adequate Errors and Ommissions coverage? This protects you if they make a mistake.
  • How many years of experience in personal lines insurance coverages do they have?
  • If your car is in the repair shop, do you have coverage for a rental car?
  • Do the companies they represent have a solid financial rating?
  • How much will you save each year by using a higher deductible?

Pick the best insurance agent for you

When searching for local agents, there are two types of agencies from which to choose. Agents are categorized either independent or captive. Either one can properly insure your vehicles, but it’s worth learning the differences because it can impact your selection of an agent.

Captive Agents

These agents have only one company to place business with and some examples include Allstate, State Farm and Farmers Insurance. These agents are unable to give you multiple price quotes so it’s a take it or leave it situation. These agents are trained well in insurance sales which helps them compete with independent agents. Consumers frequently buy insurance from these agents mainly due to the prominence of the brand and strong financial ratings.

Independent Agencies or Brokers

Independent agencies are not required to write business for one company so they can insure your vehicles with any number of different companies enabling the ability to shop coverage around. To move your coverage to a new company, your agent can switch companies and that require little work on your part. When shopping rates, it’s a good idea to get quotes from at least one independent agent to get the best comparison. Most have the option of insuring with smaller regional carriers which may provide better rates.

To view a full list of insurance agencies, visit this site.

quote X5 insurance

Once you have answers to your satisfaction to all your questions and an affordable coverage quote, most likely you have located an insurance agent that can insure your vehicles.

Keep this in mind

As you go through the steps to switch your coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In many instances, an insured cut comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your focus should be to buy the best coverage you can find at a price you can afford, not the least amount of coverage.

We just covered some good ideas how you can shop for BMW X5 insurance online. It’s most important to understand that the more rate quotes you have, the better your comparison will be. You may be surprised to find that the best prices are with an unexpected company.

Insureds leave their current company for a number of reasons such as extreme rates for teen drivers, questionable increases in premium, delays in responding to claim requests and delays in paying claims. It doesn’t matter why you want to switch switching car insurance companies is pretty easy and you might even save some money in the process.