Lower Your 2003 BMW 5 Series Car Insurance Quotes

Feel like you’re a prisoner to an underperforming, overpriced auto insurance policy? Believe me when I say there are a lot of people just like you who feel imprisoned by their auto insurance policy.

Multiple auto insurance companies compete to insure your vehicles, and because of this it can be hard to compare car insurance companies and uncover the absolute best rate

Quick Auto Insurance Quotes

Most major insurance companies such as Allstate and Progressive give coverage prices online. The process is pretty easy as you simply type in the amount of coverage you want into the quote form. After the form is submitted, the company’s rating system sends out for information on your driving record and credit history and generates a price. Quoting online makes comparing rates easy, but the process of having to visit multiple sites and fill out multiple forms can be a bit repetitive. But it’s absolutely necessary to have as many quotes as possible in order to get the best price possible.

Compare rates the easy way

A less time-consuming method to locate the lowest prices requires only one form that gets prices from several different companies. It saves time, requires less work, and makes quoting online much easier to do. As soon as the form is sent, it is rated with multiple companies and you can pick any or none of the price quotes you receive. If you find a better price it’s easy to complete the application and buy the new coverage. The whole process can be completed in less than 10 minutes and can result in significant savings.

In order to compare rates now, simply click here to open in new window and enter your information. If you have your current policy handy, we recommend you type in your coverages identical to your current policy. This helps ensure you are getting comparison quotes based on similar coverages.

Insurance coverage ads bend the truth

Insurance coverage providers like Allstate and Progressive constantly bombard you with television and radio advertisements. They all say the same thing that you can save if you switch to their company. How can each company say the same thing?

All companies can use profiling for the type of customer that earns them a profit. A good example of a driver they prefer could possibly be a mature driver, has no tickets, and drives less than 10,000 miles a year. Any new insured who matches those parameters will get the preferred rates and most likely will save when they switch companies.

Potential insureds who don’t measure up to the “perfect” profile will be quoted higher prices and ends up with business not being written. The ad wording is “people who switch” not “everyone that quotes” save that kind of money. That’s why insurance companies can confidently advertise the savings. This emphasizes why you should compare many company’s rates. Because you never know the company that will fit your personal profile best.

These factors can influence what you pay for BMW 5 Series insurance

An important part of buying insurance is that you know the different types of things that come into play when calculating car insurance rates. Understanding what determines base rates helps enable you to make changes that will entitle you to lower car insurance prices.

  • Pay less after the wedding – Getting married can get you a discount on your policy. Having a significant other is viewed as being more mature and responsible and it’s proven that married drivers get in fewer accidents.
  • Your location is important – Being located in less populated areas has it’s advantages when buying car insurance. Less people living in that area means reduced accidents and also fewer theft and vandalism claims. Drivers who live in large cities tend to have congested traffic and much longer commute distances. Longer commute distances means higher likelihood of an accident.
  • Battle of the sexes – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. They both cause accidents at a similar rate, but the men cause more damage. Men also statistically have more aggressive citations such as DWI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and therefore have the most expensive car insurance rates.
  • Lower rates come with age – More mature drivers are viewed as being more responsible, tend to file fewer claims and get fewer tickets. Youthful drivers tend to get distracted easily when driving and because of this, their car insurance rates are much higher.
  • More miles equals more premium – The higher the mileage driven in a year the higher your rates will be. Most companies price each vehicle’s coverage determined by how the vehicle is used. Cars and trucks used primarily for pleasure use receive lower rates compared to those used for work or business. An improperly rated 5 Series can cost quite a bit. Double check that your car insurance declarations sheet properly reflects the correct usage for each vehicle, because improper ratings can cost you money.
  • Your job and insurance rates – Did you know your occupation can influence how much you pay for car insurance? Jobs such as doctors, architects and stock brokers tend to have the highest rates in part from stressful work requirements and lengthy work days. On the other hand, professions such as actors, students and homemakers receive lower rates for 5 Series insurance.
  • Your car’s features help determine rates – Purchasing a vehicle that has an advanced theft prevention system can help bring down rates. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping your car from being stolen.
  • Small claims can cost you – If you are a frequent claim filer, you can look forward to higher rates. Companies generally give discounts to policyholders who do not rely on their insurance for small claims. Insurance coverage is intended for larger claims.

Are you getting all your discounts?

Auto insurance companies don’t always advertise all available discounts very well, so here is a list some of the more common and also the lesser-known ways to save on auto insurance.

  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and earn discounts up to 10%.
  • Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save 5% or more.
  • Service Members Pay Less – Having a deployed family member could be rewarded with lower premiums.
  • Multiple Cars – Insuring all your vehicles with the same company can get a discount on all vehicles.
  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less for 5 Series insurance than their less cautious counterparts.
  • New Car Discount – Adding a new car to your policy can be considerably cheaper because new vehicles have to meet stringent safety requirements.
  • Save over 55 – If you qualify as a senior citizen, you may be able to get reduced rates for 5 Series insurance.
  • No Accidents – Drivers with accident-free driving histories can save substantially compared to frequent claim filers.
  • Paperwork-free – A few companies will give a small break simply for signing digitally online.

A little note about advertised discounts, some credits don’t apply to the entire cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous.

To see a list of providers with discount auto insurance rates, follow this link.

When might I need an agent?

When buying proper insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Each situation is unique so your insurance needs to address that. For example, these questions may help highlight whether you could use an agent’s help.

  • Why do I need rental car insurance?
  • Do I need special endorsements for business use of my vehicle?
  • Are my friends covered when driving my 2003 BMW 5 Series?
  • What if I don’t agree with a claim settlement offer?
  • What vehicles should carry emergency assistance coverage?
  • Should I drop comprehensive coverage on older vehicles?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.

Educate yourself about insurance coverages

Understanding the coverages of a insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on most insurance policies.

Comprehensive (Other than Collision)

This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like hail damage, fire damage, rock chips in glass, vandalism and a broken windshield. The maximum amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Liability coverage

This protects you from injuries or damage you cause to other people or property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.

Liability insurance covers claims such as repair bills for other people’s vehicles, pain and suffering, court costs, medical expenses and funeral expenses. How much coverage you buy is a decision to put some thought into, but you should buy as high a limit as you can afford.

Collision coverage protection

This coverage covers damage to your 5 Series from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like rolling your car, colliding with another moving vehicle, scraping a guard rail, crashing into a building and backing into a parked car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for things like ambulance fees, rehabilitation expenses, nursing services and doctor visits. The coverages can be utilized in addition to your health insurance policy or if you are not covered by health insurance. 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 not universally available but can be used in place of medical payments coverage

Protection from uninsured/underinsured drivers

Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage 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. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Pennies from heaven

Discount 2003 BMW 5 Series insurance can be purchased from both online companies as well as from independent agents, so compare prices from both to have the best chance of lowering rates. Some insurance providers don’t offer online price quotes and many times these small, regional companies only sell through independent insurance agents.

We just covered many ways to reduce insurance prices online. The key thing to remember is the more price quotes you have, the better your chances of lowering your rates. Consumers may even find the lowest priced insurance coverage comes from an unexpected company. Some small companies often have lower prices on specific markets than their larger competitors like Geico and State Farm.

More tips and info about insurance coverage is available by following these links: