2015 BMW 5 Series Insurance Quotes

Searching for better insurance coverage rates for your BMW 5 Series? Locating better insurance prices for a BMW 5 Series can normally be an all-consuming task, but you can follow our insurance coverage buying tips to make it easier. There is a right way and a wrong way to compare insurance coverage rates so you’re going to learn the best way to get price quotes for your BMW and get the cheapest rates.

It’s a great practice to compare prices every six months because prices are variable and change quite frequently. Even if you got the best deal for 5 Series coverage on your last policy you can probably find a better price now. You can find a lot of misleading information regarding insurance coverage online but we’re going to give you some guaranteed methods to reduce your insurance coverage bill.

If you have a current auto insurance policy or need new coverage, you can follow these tips to find the best rates while maintaining coverages. Finding more affordable coverage is simple if you know the tricks. Consumers only need to know how to find the lowest price over the internet.

The fastest way that we advise to compare car insurance company rates is to realize auto insurance companies allow for online access to give you rate quotes. To start a quote, the only thing you need to do is give the companies some data such as types of safety features, driver ages, if a SR-22 is needed, and if your license is active. That rating data is then submitted to multiple different insurance companies and they respond with quotes instantly.

Don’t overlook these discounts

Auto insurance companies don’t always advertise every available discount in a way that’s easy to find, so here is a list both the well known and also the lesser-known ways to save on auto insurance. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.

  • Discount for Life Insurance – Select insurance companies reward you with a discount if you purchase life insurance from them.
  • Sign Online – A handful of insurance companies give back up to $50 for buying your policy over the internet.
  • Military Discounts – Having a deployed family member can result in better rates.
  • Auto/Home Discount – If you have multiple policies with one company you may earn 10% to 20% off each policy.
  • Own a Home – Simply owning a home may earn you a small savings because maintaining a house requires personal responsibility.
  • Low Mileage – Driving fewer miles could qualify for lower rates on the low mileage vehicles.
  • Good Student Discount – This discount can get you a discount of up to 25%. The good student discount can last well after school through age 25.

As a disclaimer on discounts, some of the credits will not apply to all coverage premiums. Most only cut the price of certain insurance coverages like collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, it just doesn’t work that way.

Car insurance companies that may offer these money-saving discounts are:

It’s a good idea to ask every prospective company what discounts are available to you. Some discounts might not be offered in every state.

Your BMW 5 Series insurance rate is a complex equation

Smart consumers have a good feel for some of the elements that go into determining the rates you pay for car insurance. Having a good understanding of what influences your rates enables informed choices that can help you get much lower annual insurance costs.

  • Lower rates with optional equipment – Driving a car with a theft deterrent system can get you a discount on your car insurance. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder car theft.
  • Younger drivers pay higher rates – Mature drivers are viewed as being more responsible, tend to cause fewer accidents and tend to be better behind the wheel. Young drivers are known to be careless and easily distracted in a vehicle therefore car insurance rates are much higher.
  • Bump up deductibles to save – Your deductibles define the amount you are required to spend before your car insurance pays a claim. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. A few examples of covered claims are running into the backend of another car, damage caused by hail, and rolling your vehicle. The more expense you have to pay, the bigger discount you will receive for 5 Series coverage.
  • Better credit scores mean better rates – Having a bad credit history is a big factor in determining your rates. So if your credit history is not that good, you could save money insuring your 2015 BMW 5 Series by spending a little time repairing your credit. Drivers with good credit tend to file fewer claims and have better driving records than those with lower credit scores.
  • Allowing your policy to lapse raises rates – Allowing your car insurance policy to lapse is a sure-fire way to trigger a rate increase. And not only will insurance be more expensive, failure to provide proof of insurance can result in a license revocation or jail time.
  • Cautious drivers pay less – A bad driving record has a big impact on rates. Even one speeding ticket can bump up the cost by twenty percent. Drivers who don’t get tickets tend to pay less for car insurance than bad drivers. If you have serious violations such as DUI or reckless driving may find they need to file a SR-22 with their state DMV in order to continue driving.

Is my situation unique?

When buying proper insurance coverage, there isn’t really a best way to insure your cars. Every situation is different.

For instance, these questions can help discover if you could use an agent’s help.

  • What if I don’t agree with a claim settlement offer?
  • Am I getting all the discounts available?
  • Do I need more liability coverage?
  • Does my policy cover my teen driver if they drive my company car?
  • When can my company non-renew my policy?
  • Am I covered when using my vehicle for business?
  • Do I pay less for low miles?
  • Does coverage extend to Mexico or Canada?

If it’s difficult to answer those questions but a few of them apply, 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. It only takes a few minutes and may give you better protection.

Car insurance coverages for a 2015 BMW 5 Series

Learning about specific coverages of car insurance can help you determine the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Liability car insurance – Liability insurance provides protection from damages or injuries you inflict on other people or property by causing an accident. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which stand for $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability insurance covers things such as repair bills for other people’s vehicles, court costs, structural damage and emergency aid. How much liability should you purchase? That is your choice, but consider buying as much as you can afford.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as falling objects, hitting a deer, vandalism, hail damage and theft. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Insurance for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for things like funeral costs, pain medications, hospital visits and EMT expenses. They can be used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible

Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage provides protection when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 5 Series.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

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

Collision coverage protects against claims like colliding with another moving vehicle, colliding with a tree, crashing into a building, crashing into a ditch and hitting a parking meter. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.

Keep this in mind

Affordable 2015 BMW 5 Series insurance can be purchased on the web and with local insurance agents, and you should compare price quotes from both to get a complete price analysis. Some insurance companies do not offer the ability to get a quote online and these smaller companies work with independent agents.

In this article, we covered many tips how you can shop for insurance online. The key thing to remember is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the biggest savings come from some of the smallest insurance companies.

Insureds switch companies for any number of reasons including delays in responding to claim requests, high prices, high rates after DUI convictions and delays in paying claims. No matter why you want to switch, finding the right auto insurance provider is easier than you think.

More information can be read at the links below