View 2004 BMW 5 Series Insurance Rates

Feel like you’re a prisoner to an underperforming, overpriced auto insurance policy? Believe me, there are many consumers feeling the pinch from expensive auto insurance. Because you have many different company options, it is hard for the average consumer to choose the most cost effective insurance company.

How to Get Insurance Coverage

All the larger insurance coverage companies like State Farm and Allstate give insurance quotes directly from their websites. Getting quotes is pretty painless as you simply type in your required coverages as requested by the quote form. Behind the scenes, the system obtains credit information and your driving record and returns a price quote. Being able to quote online makes it a lot easier to compare rates but the work required to visit a lot of sites and enter the same data into a form gets old quite quickly. Unfortunately, it is important to perform this step if you are searching for the lowest insurance coverage rates.

Quote rates the easy way

A quicker way to find cheaper rates uses one simple form that gets price quotes from several different companies. It’s a real time-saver, eliminates repetitive work, and makes online shopping a lot less work. After sending your information, it gets priced and you can choose any or none of the quotes that you receive. If a lower price is quoted, you simply finish the application and buy the policy. The entire process can be completed in a matter of minutes and you will find out if you’re overpaying now.

To save time and get comparison pricing now, click here and begin entering your coverage information. If you have coverage now, it’s recommended you duplicate the limits and deductibles exactly as shown on your declarations page. This ensures you will be getting rate comparison quotes using the exact same coverages.

Verify you’re getting all your discounts

Companies don’t always publicize all their discounts in an easy-to-find place, so here is a list both well-publicized as well as the least known discounts you could be receiving. If they aren’t giving you every credit you deserve, you are paying more than you should be.

  • Sign Early and Save – Some insurance companies reward drivers for buying a policy prior to your current policy expiration. It can save you around 10%.
  • Lower Rates for Military – Having a deployed family member could mean lower rates.
  • Driver’s Ed – Cut your cost by having your teen driver successfully complete driver’s ed class if it’s offered in school.
  • Auto/Life Discount – Some companies give a break if you buy life insurance.
  • Theft Prevention System – Vehicles with anti-theft systems help deter theft and will save you 10% or more.
  • Drive Safe and Save – Safe drivers may receive a discount up to 45% less for 5 Series coverage than drivers with accident claims.
  • Homeowners Discount – Simply owning a home may trigger a car insurance policy discount because of the fact that having a home demonstrates responsibility.
  • Multi-car Discount – Buying coverage for more than one vehicle on one policy may reduce the rate for each vehicle.
  • One Accident Forgiven – Some insurance companies will forgive one accident without raising rates if your claims history is clear for a certain period of time.
  • Seat Belts Save more than Lives – Drivers who require all occupants to use their safety belts can save 10% or more off your PIP or medical payments premium.

A little note about advertised discounts, most credits do not apply to the overall cost of the policy. Most only reduce individual premiums such as comprehensive or collision. So even though they make it sound like having all the discounts means you get insurance for free, companies don’t profit that way.

A partial list of companies that possibly offer these discounts include:

It’s a good idea to ask each insurance company what discounts are available to you. All car insurance discounts might not be offered in your state.

When should I talk to an agent?

When buying the best car insurance coverage, there really is no “best” method to buy coverage. Each situation is unique so your insurance should reflect that Here are some questions about coverages that may help you determine whether your personal situation would benefit from an agent’s advice.

  • Can my babysitter drive my car?
  • Do I pay less if my vehicle is kept in my garage?
  • How many claims can I have before being cancelled?
  • How much can I save by bundling my policies?
  • Should I file a claim if it’s only slightly more than my deductible?
  • Is there coverage for injuries to my pets?
  • Do I need PIP coverage since I have good health insurance?

If you can’t answer these questions, you might consider talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of car insurance companies in your area. It only takes a few minutes and may give you better protection.

Car insurance 101

Knowing the specifics of your policy can be of help when determining appropriate coverage and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are typical coverages found on the average insurance policy.

Uninsured/Underinsured Motorist coverage

This gives you protection from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your BMW 5 Series.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive coverage

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things like a broken windshield, falling objects and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Collision protection

This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as driving through your garage door, backing into a parked car, crashing into a building, scraping a guard rail and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.

Liability car insurance

This coverage provides protection from damage that occurs to people or other property that is your fault. This coverage protects you against other people’s claims, and doesn’t cover 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. You might see values of 50/100/50 which means $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for things like pain and suffering, attorney fees, funeral expenses and medical expenses. How much liability should you purchase? That is up to you, but buy as high a limit as you can afford.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like nursing services, ambulance fees, hospital visits, rehabilitation expenses and X-ray expenses. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay