Cheaper 2016 BMW 5 Series Car Insurance Cost

Looking for the cheapest auto insurance rates for your BMW 5 Series? Cutting costs on auto insurance may be frustrating for people who are beginners to online price comparisons. With dozens of insurers available, it can be a real challenge to find more affordable prices.

Choosing the best insurance company for you is easy if you know what you’re doing. If you currently have a car insurance policy, you will be able to reduce your rates substantially using these tips. Nevertheless, consumers should learn how big insurance companies market on the web and use this information to your advantage.

Ways to get car insurance quotes

There are several ways to shop for car insurance, but there is one way that is more efficient than others. You can spend your afternoon talking about coverages with insurance agencies in your area, or you can stay home and use online quotes to get rate comparisons in just a few minutes.

Most of the best insurance companies belong to an insurance system where prospective buyers enter their coverage request one time, and at least one company returns a rated price based on that information. This saves time by eliminating form submissions for every car insurance company.

To access this free quoting program, click here (opens in new window).

The one downside to using this type of form is you can’t choose which companies you want to price. If you wish to select specific insurance companies to compare rates, we have assembled a list of car insurance companies in your area. Click here for list of insurance companies.

Compare rates however you want, just try to use equivalent quote data on every quote you get. If you use differing limits then you won’t be able to truly determine the lowest rate. Slightly different insurance coverages or limits could throw off the whole comparison. And when quoting car insurance, remember that obtaining a wide range of quotes helps improve the odds of finding a better price.

When do I need an agent’s advice?

When it comes to buying proper insurance coverage, there is no cookie cutter policy. Everyone’s needs are different.

For instance, these questions may help highlight whether you could use an agent’s help.

• Will my rates increase for filing one claim?
• Am I covered if I wreck a rental car?
• When should I not file a claim?
• Does my insurance cover damage caused when ticketed for reckless driving?
• What is roadside assistance coverage?
• How can I get high-risk coverage after a DUI?
• Do all my vehicles need collision coverage?
• If my 2016 BMW 5 Series is totaled, can I afford another vehicle?
• What is covered by UM/UIM coverage?
• Am I covered when driving a rental car?

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form.

Coverage specifics

Understanding the coverages of your insurance policy aids in choosing the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and reading a policy is terribly boring.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your BMW 5 Series.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses like X-ray expenses, ambulance fees, surgery, prosthetic devices and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP is not universally available but can be used in place of medical payments coverage

Comprehensive insurance – Comprehensive insurance pays for damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like falling objects, hitting a bird and a broken windshield. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision coverages – Collision insurance covers damage to your 5 Series resulting from a collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like hitting a parking meter, backing into a parked car, crashing into a ditch, hitting a mailbox and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Liability coverage – This coverage will cover damage or injury you incur to people or other property. This coverage protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.

It consists of 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 values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability coverage pays for things like medical services, attorney fees and emergency aid. How much liability coverage do you need? That is up to you, but buy as much as you can afford.