2018 BMW 5 Series Insurance Rates – 9 Discounts for Best Quotes

Searching for lower auto insurance rates? Consumers have lots of choices when looking for affordable BMW 5 Series insurance. You can either waste hours struggling with agents getting price quotes or save time using the internet to compare rates. There is a right way and a wrong way to shop for auto insurance so you’re going to learn the best way to compare rates on a BMW and locate the cheapest rates.

The quickest method we recommend to compare insurance rates from multiple companies is to realize car insurance companies pay for the opportunity to compare rate quotes. The only thing you need to do is provide details like if you have an active license, coverage limits, if a SR-22 is needed, and marital status. Your details is then submitted to multiple top-rated companies and they provide comparison quotes almost instantly.

To start a rate quote now, click here and complete the quick form.

Insurance coverage quotes and discounts

Companies don’t necessarily list all their discounts in a way that’s easy to find, so the list below contains a few of the more common as well as the least known insurance coverage savings.

  • Drivers Education – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education as it will make them better drivers and lower rates.
  • Discount for Life Insurance – Select insurance companies reward you with a break if you buy life insurance from them.
  • Government Employee Discount – Employees or retirees of the government could provide a small rate reduction for 5 Series insurance with a few insurance coverage companies.
  • Onboard Data Collection – Insureds that choose to allow driving data collection to look at driving patterns by using a small device installed in their vehicle like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates if their driving habits are good.
  • Good Student Discount – Performing well in school can earn a discount of 20% or more. Earning this discount can benefit you up until you turn 25.
  • Military Rewards – Having a family member in the military could qualify you for better prices.
  • Passive Restraint Discount – Factory options such as air bags can receive discounts of up to 25% or more.
  • Distant Student Discount – Kids who live away from home at college and do not have access to a covered vehicle could get you a discount.
  • Own a Home – Simply owning a home can save a few bucks since owning and maintaining a home means you have a higher level of financial diligence.

A little note about advertised discounts, most of the big mark downs will not be given to the overall cost of the policy. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. So when it seems like all the discounts add up to a free policy, it’s just not the way it works. But any discount will reduce your policy premiums.

Car insurance companies that possibly offer these discounts may include but are not limited to:

Before you buy a policy, ask every company which discounts they offer. Some of the discounts discussed earlier may not apply everywhere. If you would like to view providers with discount rates, click this link.

Situations that may require an agent’s advice

When choosing adequate coverage for your vehicles, there isn’t really a perfect coverage plan. Your needs are not the same as everyone else’s.

These are some specific questions can help discover whether or not you would benefit from an agent’s advice.

  • Do I have any recourse if my insurance company denies a claim?
  • Can I afford low physical damage deductibles?
  • What is the minimum liability in my state?
  • Where can I find DUI or SR-22 insurance?
  • Does my 2018 BMW 5 Series qualify for pleasure use?
  • What is high-risk coverage and where do I buy it?

If you can’t answer these questions but you know they apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form. It’s fast, doesn’t cost anything and can help protect your family.

Car insurance coverages and their meanings

Knowing the specifics of a car insurance policy aids in choosing the best coverages at the best deductibles and correct limits. Car insurance terms can be ambiguous and coverage can change by endorsement.

Collision coverages – Collision insurance pays for damage to your 5 Series caused by collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage protects against things like rolling your car, crashing into a building, colliding with another moving vehicle, colliding with a tree and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. You can also raise the deductible to get cheaper collision coverage.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses like rehabilitation expenses, chiropractic care and EMT expenses. They are used in conjunction with a health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist coverage – This coverage provides protection when the “other guys” either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked.

Comprehensive coverage – This coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for things like theft, a broken windshield, vandalism and hitting a bird. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability car insurance – Liability coverage will cover damages or injuries you inflict on a person or their property in an accident. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.

Liability coverage protects against claims such as bail bonds, repair bills for other people’s vehicles, attorney fees and funeral expenses. How much coverage you buy is up to you, but it’s cheap coverage so purchase higher limits if possible.