2003 BMW X5 Car Insurance Rates

Looking for the cheapest car insurance rates for your BMW X5? Cutting costs on car insurance is always a challenge for consumers new to buying insurance online. You have so many companies to choose from that it can easily become a ton of work to compare prices.

Finding Car Insurance Deals

All the larger car insurance companies give price estimates online. The process is pretty painless as you just type in the amount of coverage you want into a form. Once you submit the form, their rating system obtains your driving and credit reports and returns pricing information based on these and other factors.

Being able to quote online makes it a lot easier to compare rates but having to visit several different sites and complete many quote forms is monotonous and tiresome. But it is imperative to perform this step in order to find the lowest car insurance rates.

A less time-consuming method to locate the lowest prices uses one simple form that analyzes rates from a lot of companies. It’s a real time-saver, reduces the work, and makes online quotes much easier to do. After sending your information, it is rated and you can select any of the price quotes you receive. If one or more price quotes are lower than your current rates, you can simply submit the application and purchase coverage. The entire process takes just a few minutes to complete and could lower your rates considerably.

In order to compare rates using this form now, click here and enter your vehicle and coverage information. If you currently have coverage, we recommend you type in the coverages identical to your current policy. Using the same limits helps guarantee you will have an apples-to-apples comparison using the same coverage and limits.

Discounts on 2003 BMW X5 insurance

Companies that sell car insurance do not list all available discounts very well, so the following is a list of both well-publicized and the more hidden insurance coverage savings.

  • Homeowners Pay Less – Being a homeowner can save you money because maintaining a house requires personal responsibility.
  • Seat Belts Save more than Lives – Requiring all passengers to use their safety belts can save 10% or more off the personal injury premium cost.
  • Life Insurance – Some companies give lower rates if you buy life insurance.
  • Multiple Cars – Buying insurance for all your vehicles on the same insurance coverage policy can get a discount on all vehicles.
  • Drive Safe and Save – Drivers who avoid accidents may receive a discount up to 45% less for X5 coverage than drivers with accidents.
  • Government Employees – Simply working for the federal government may qualify you for a discount for X5 coverage depending on your company.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you could save 5% or more.
  • Lower Rates for Military – Being deployed with a military unit could mean lower rates.

It’s important to understand that most of the big mark downs will not be given to the overall cost of the policy. Most cut individual premiums such as comprehensive or collision. Even though it may seem like you could get a free insurance coverage policy, you won’t be that lucky.

For a list of providers with discount insurance coverage rates, follow this link.

Tailor your coverage to you

When buying proper insurance coverage for your personal vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs.

For example, these questions could help you determine if your insurance needs would benefit from an agent’s advice.

  • Where can I get insurance after a DUI in my state?
  • Should I have a commercial auto policy?
  • What exactly is covered by my policy?
  • Are there companies who specialize in insuring high-risk drivers?
  • Does coverage extend to a rental car in a foreign country?
  • Are split liability limits better than a combined single limit?

If you can’t answer these questions then you might want to talk to an agent. To find an agent in your area, complete this form.

Why your BMW X5 might be costing you more

Consumers need to have an understanding of the rating factors that come into play when calculating the rates you pay for insurance. Understanding what influences your rates helps enable you to make changes that will entitle you to better insurance rates.

The list below includes some of the items that factor into prices.

  • Drive less and save money – The higher the mileage driven each year the more you will pay for insurance. Almost all companies charge to insure your cars determined by how the vehicle is used. Autos that are left in the garage receive lower rates compared to those used for work or business. If your policy improperly rates your X5 may be wasting your money. Verify your insurance declarations sheet is rated on the correct usage for each vehicle, because improper ratings can cost you money.
  • Do you need the policy add-ons? – There are many add-on coverages that you can buy on your insurance policy. Insurance for personal injury protection, towing coverage and additional equipment coverage are examples of these. They may seem good initially, but now you might not need them so eliminate the coverages to reduce your premium.
  • A clean driving record saves money – A bad driving record impacts your car insurance rates tremendously. Good drivers get better rates than their less careful counterparts. Just one speeding ticket can increase rates forty percent or more. If you have dangerous violations like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to prevent a license revocation.
  • Do you have a high stress job? – Occupations like real estate brokers, architects and financial analysts are shown to have higher average rates due to job stress and lots of time spent at work. Conversely, jobs such as pilots, engineers and retirees pay the least for X5 coverage.
  • Do you qualify for a multi-policy discount? – Many insurance companies provide better rates to people who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to ten or even up to twenty percent in some cases. Even though this discount sounds good, it’s in your best interest to compare other company rates to verify if the discount is saving money.
  • Where you live can impact rates – Being located in a rural area is a positive aspect when it comes to insurance. City drivers have to deal with more traffic problems and a longer drive to work. Lower population means a lower chance of having an accident.
  • Protect yourself with liability coverage – Liability insurance is the coverage that protects you in the event that you are found liable for damages caused by your negligence. Liability insurance provides for a legal defense up to the limits shown on your policy. Liability is cheap compared to physical damage coverage, so do not skimp.
  • Credit scores impact insurance rates – A driver’s credit score is a important factor in your rate calculation. If your credit score is lower than you’d like, you could be paying less to insure your 2003 BMW X5 by improving your rating. Drivers with high credit scores tend to file fewer claims and have better driving records than drivers with poor credit.

The coverage is in the details

Learning about specific coverages of your policy can be of help when determining appropriate coverage for your vehicles. Policy terminology can be impossible to understand and coverage can change by endorsement.

Medical costs insurance

Coverage for medical payments and/or PIP reimburse you for expenses like surgery, pain medications, ambulance fees, hospital visits and chiropractic care. They are often used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover all vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

UM/UIM Coverage

This coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Liability coverage

Liability coverage provides protection from injuries or damage you cause to other people or property. It protects YOU from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.

Liability coverage protects against claims such as legal defense fees, bail bonds and court costs. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Auto collision coverage

Collision insurance covers damage to your X5 caused by collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as crashing into a ditch, damaging your car on a curb and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are older. Drivers also have the option to increase the deductible to save money on collision insurance.

Comprehensive or Other Than Collision

This coverage will pay to fix 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 pays for claims such as hail damage, theft, falling objects and fire damage. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

One last thing about your coverage

We’ve covered some good ideas how to save on 2003 BMW X5 insurance. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. Drivers may discover the best prices are with the least-expected company.

Consumers who switch companies do it for any number of reasons including denial of a claim, delays in responding to claim requests, questionable increases in premium or even policy non-renewal. Regardless of your reason for switching companies, switching companies is pretty simple and you could end up saving a buck or two.

Lower-priced insurance is possible online and also from your neighborhood agents, so compare prices from both in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.

More detailed car insurance information is available by following these links: