Cheap 2001 BMW 5 Series Car Insurance Quotes

Searching for lower auto insurance rates for your BMW 5 Series? Locating low-cost insurance for your BMW 5 Series can be a painful process, but you can use a few tricks to save time.

There is a better way to shop for auto insurance so you’re going to learn the proper way to compare rates for a new or used BMW and find the lowest price from local insurance agents and online providers.

Smart consumers take time to take a look at other company’s rates every six months because rates are constantly changing. Even if you got the lowest price on 5 Series coverage two years ago there is a good chance you can find better rates now. You’ll find quite a bit of inaccurate information about auto insurance online but we’re going to give you some of the best ways to quit paying high auto insurance rates.

Are you getting all your discounts?

Insurance can cost an arm and a leg, but there are discounts available that can drop the cost substantially. Some discounts apply automatically when you quote, but some may not be applied and must be specifically requested before they will apply. If you don’t get every credit possible, you’re just leaving money on the table.

  • Driver Safety – Taking a course in driver safety could cut 5% off your bill depending on where you live.
  • Seat Belts Save more than Lives – Drivers who require all occupants to use their safety belts could save 15% off your medical payments premium.
  • Auto/Life Discount – Some companies give a break if you buy life insurance from them.
  • Student Driver Training – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class if it’s offered in school.
  • Payment Method – If you pay your bill all at once rather than paying monthly you could save 5% or more.
  • Homeowners Discount – Owning a house may trigger a auto insurance policy discount due to the fact that maintaining a home is proof that your finances are in order.
  • Employee of Federal Government – Employees or retirees of the government may qualify you for a discount on 5 Series coverage with a few auto insurance companies.
  • Student in College – Children living away from home attending college without a vehicle on campus may qualify for this discount.
  • Multiple Policy Discount – When you have multiple policies with the same company you may save approximately 10% to 15%.
  • Senior Discount – If you qualify as a senior citizen, you can possibly qualify for a discount up to 10% on 5 Series coverage.

Consumers should know that most discounts do not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like all the discounts add up to a free policy, it just doesn’t work that way. But all discounts will bring down your overall premium however.

Companies who might offer these money-saving discounts may include but are not limited to:

It’s a good idea to ask all companies you are considering how you can save money. Discounts may not be available in your state.

Comprehensive Car Insurance Comparison

Cutting your car insurance rates is not rocket science. The only thing you need to do is take a few minutes to get quotes from different insurance companies. This can be accomplished using a couple different methods.

  • The first (and easiest) way consumers can analyze rates is to use a rate comparison form like this one (opens in new window). This easy form eliminates the need for separate quotation requests to each individual car insurance company. Just one form will return price quotes from several companies.It’s the quickest way to get rates.
  • A less efficient way to get quotes online requires visiting the website for every company you want to comare to complete their respective quote request forms. For instance, we’ll pretend you want to compare Liberty Mutual, Geico and Progressive. You would have to take the time to go to each site to enter your coverage information, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.
  • The least efficient way to compare rates is to spend time driving to and from local insurance agencies. The ability to buy insurance online has reduced the need for local agents unless you want the professional guidance of a local agent. Drivers can price shop online but buy from a local insurance agent. We’ll cover that shortly.

Which method you use is up to you, but ensure you are comparing exactly the same coverages on every quote. If your comparisons have different limits and deductibles on each one it will be very difficult to determine which rate is truly the best.

When might I need an agent?

When it comes to choosing coverage, there really is no best way to insure your cars. Everyone’s situation is unique.

For instance, these questions might point out if your insurance needs will benefit from professional help.

  • Is extra glass coverage worth it?
  • I have a DUI can I still get coverage?
  • Do I need PIP coverage since I have good health insurance?
  • When should I not file a claim?
  • If my pet gets injured in an accident are they covered?
  • Does coverage extend to my business vehicle?
  • Am I covered when delivering products for my home-based business?

If you can’t answer these questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, simply complete this short form. It’s fast, doesn’t cost anything and may give you better protection.

Auto insurance 101

Knowing the specifics of your policy can help you determine appropriate coverage for your vehicles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for pain medications, doctor visits, rehabilitation expenses and funeral costs. The coverages can be used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Uninsured Motorist or Underinsured Motorist insurance

This coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your BMW 5 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage should not be overlooked. Normally these coverages do not exceed the liability coverage limits.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as falling objects, hitting a deer, vandalism and hitting a bird. The most a insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Collision protection

This coverage covers damage to your 5 Series from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as hitting a mailbox, colliding with another moving vehicle and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Another option is to raise the deductible to bring the cost down.

Liability coverage

Liability coverage provides protection from injuries or damage you cause to other’s property or people that is your fault. It protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Some companies may use a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims such as funeral expenses, loss of income, court costs, bail bonds and medical expenses. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible.

Never pay more for less

In this article, we covered some good ideas how you can reduce 2001 BMW 5 Series insurance prices online. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers could even find that the lowest premiums are with an unexpected company.

As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. There are many occasions where consumers will sacrifice liability coverage limits only to regret that it was a big mistake. The ultimate goal is to buy enough coverage at an affordable rate while not skimping on critical coverages.

Drivers change insurance companies for many reasons like delays in paying claims, questionable increases in premium, policy cancellation and denial of a claim. Regardless of your reason for switching companies, choosing a new company can be easy and end up saving you some money.

More detailed insurance coverage information can be found in these articles: