View 2011 BMW 5 Series Insurance Quotes

Finding lower rates for auto insurance can be a challenge for consumers not familiar with comparison shopping online. People have so many options that it can turn into a ton of work to locate the lowest price.

Where Can I Get Cheap Insurance?

When shopping for insurance there are multiple ways of comparing rate quotes and find the best price. The best method to find the lowest 2011 BMW 5 Series rates is to perform an online rate comparison. This can be done in just a few minutes using one of these methods.

  1. One of the simplest ways to get quotes is an all-inclusive rate comparison like this one (opens in new window). This type of form keeps you from doing repetitive form entry to each individual insurance company. One form submission gets you coverage quotes direct from many companies. It’s definitely the quickest method.
  2. A slightly less efficient method to analyze rates is spending the time to visit the website of each company and request a quote. For instance, we’ll pretend you want rates from USAA, Liberty Mutual and State Farm. You would have to visit each site and enter your policy data, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.
  3. The least recommended way of comparing rate quotes is to drive around to different agent offices. The internet eliminates the need for an insurance agent unless you want the professional advice of a local agent. However, consumers can price shop online but still have the advice of a local agent.

Which method you use is up to you, but double check that you are using exactly the same deductibles and coverage limits for each price quote. If you enter differing limits it will be very difficult to determine the best price for your BMW 5 Series. Just a small difference in coverages can mean a large discrepancy in price. Keep in mind that getting more free quotes helps you find better pricing.

Is there deception in advertising?

Progressive, Allstate and Geico consistently run ads on TV and radio. All the companies say the same thing that you’ll save big if you change to them. How do they all say the same thing?

Different companies have a certain “appetite” for the type of customer they prefer to insure. A good example of a profitable customer could be between 30 and 50, insures multiple vehicles, and chooses high deductibles. A propective insured who fits that profile is entitled to the best price and therefore will pay quite a bit less when switching companies.

Drivers who don’t measure up to the “perfect” profile will be charged a more expensive rate and this can result in business going elsewhere. The ads state “people who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can make the claims of big savings.

That is why drivers should compare many company’s rates. You cannot predict the company that will fit your personal profile best.

BMW 5 Series insurance premiums are calculated by many factors

An important part of buying insurance is that you know the factors that play a part in calculating your car insurance rates. Understanding what influences your rates helps enable you to make changes that can help you get much lower annual insurance costs.

  • Your car insurance rates can be influenced by your job – Did you know your car insurance rates can be affected by your occupation? Occupations such as doctors, social workers and dentists have the highest average rates because of high stress levels and long work days. Other occupations such as scientists, historians and homemakers get better rates for 5 Series coverage.
  • Claim-free discounts can add up – If you are a frequent claim filer, you can look forward to higher rates. Auto insurance companies award discounts to drivers who do not rely on their insurance for small claims. Insurance coverage is meant to be used in the event of larger claims.
  • Men pay higher rates – Statistics have proven women tend to be less risk to insure than men. However, this does not mean women are BETTER drivers than men. They both have accidents at a similar rate, but men have costlier accidents. Men also receive more costly citations like DUI and reckless driving. Teenage male drivers tend to get in the most accidents and are penalized with high car insurance rates.
  • Higher safety ratings means cheaper insurance – Vehicles with good safety scores are cheaper to insure. These vehicles have better occupant injury protection and fewer injuries translates into fewer and smaller insurance claims and thus lower rates. If your BMW 5 Series earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • Add-on coverages can add up – There are quite a few extra coverages that you can get tricked into buying when buying car insurance. Coverages like roadside assistance, accidental death and term life insurance are examples of these. They may seem good at first, but if they’re wasting money get rid of them and save.

Lower rates by qualifying for discounts

Properly insuring your vehicles can get expensive, but you may find discounts that you may not even be aware of. Certain discounts will be triggered automatically when you complete an application, but some may not be applied and must be specially asked for prior to getting the savings.

  • Homeowners Savings – Owning a house may trigger a auto insurance policy discount because of the fact that having a home demonstrates responsibility.
  • Paperless Signup – A few companies will give a small break just for signing your application online.
  • Senior Citizens – Mature drivers may receive reduced rates for 5 Series coverage.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems prevent accidents and therefore earn up to a 10% discount.
  • Auto/Home Discount – When you have multiple policies with one company you will save at least 10% off all policies.
  • Payment Discounts – If paying your policy premium upfront instead of paying each month you can actually save on your bill.
  • Auto/Life Discount – Companies who offer life insurance give lower rates if you buy life insurance.
  • Discount for Swiching Early – Some insurance companies reward drivers for signing up before your current expiration date. The savings is around 10%.
  • Student in College – Children who live away from home without a vehicle on campus can receive lower rates.

As a disclaimer on discounts, some of the credits will not apply to your bottom line cost. Most only reduce specific coverage prices like comp or med pay. Just because you may think you can get free auto insurance, you won’t be that lucky. But all discounts will reduce the cost of coverage.

For a list of insurers with discount auto insurance rates, click this link.

Car insurance is unique, just like you

When choosing the right insurance coverage, there is no single plan that fits everyone. Every situation is different.

Here are some questions about coverages that can aid in determining whether you might need professional guidance.

  • Does car insurance cover theft of personal property?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need more liability coverage?
  • Will my insurance pay for OEM parts?
  • When should I remove comp and collision on my 2011 BMW 5 Series?
  • When can my company non-renew my policy?
  • Is my camper covered by my car insurance policy?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • When should I buy a commercial auto policy?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Specifics of your car insurance policy

Understanding the coverages of car insurance aids in choosing which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and even agents have difficulty translating policy wording.

Collision coverage protection

Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for claims like crashing into a building, colliding with a tree, sideswiping another vehicle, backing into a parked car and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

Comprehensive coverage (or Other than Collision)

This pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like falling objects, damage from flooding, damage from a tornado or hurricane and hitting a bird. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Insurance for medical payments

Med pay and PIP coverage provide coverage for immediate expenses for things like doctor visits, hospital visits, pain medications, chiropractic care and funeral costs. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not universally available but can be used in place of medical payments coverage

Liability auto insurance

Liability insurance provides protection from injuries or damage you cause to people or other property. This insurance protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 50/100/50 which stand for a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Another option is a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims such as loss of income, bail bonds and medical services. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they 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.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.

Saving money makes a lot of cents

Consumers change insurance companies for a number of reasons such as unfair underwriting practices, delays in responding to claim requests, extreme rates for teen drivers and denial of a claim. Regardless of your reason for switching companies, switching companies is not as hard as you think.

In this article, we covered some good ideas how you can compare 2011 BMW 5 Series insurance prices online. It’s most important to understand that the more quotes you get, the better your comparison will be. You may even discover the lowest premiums are with the smaller companies.

Discount insurance can be bought from both online companies in addition to many insurance agents, and you need to price shop both so you have a total pricing picture. Some insurance companies do not provide online price quotes and many times these small, regional companies only sell through independent insurance agents.

Helpful articles