Cheap 2006 BMW 5 Series Car Insurance Cost

Trying to find cheaper auto insurance rates for your BMW 5 Series? Nobody I know enjoys paying for auto insurance, especially knowing the price is too high.

Insurance companies such as Allstate, Progressive and GEICO persitently shower you with advertising and it can be hard to ignore the promise of big savings and do the work needed to find the best deal.

If you currently have car insurance, you should be able to cut costs considerably using this strategy. Buying car insurance is not rocket science. Although drivers do need to learn how the larger insurance companies price online insurance and take advantage of how the system works.

Fast and Easy Insurance Coverage Quotes

Most companies allow you to get price estimates on the web. Getting online quotes doesn’t take much effort as you simply enter the coverage amounts you desire into the quote form. After you submit the form their system collects credit information and your driving record and generates a price based on many factors. Online quotes helps simplify price comparisons, but the work required to visit a lot of sites and enter the same data into a form can get tiresome after awhile. Unfortunately, it is important to perform this step if you want to find the lowest insurance coverage rates.

The better way to compare rates

The easiest way to compare insurance coverage pricing makes use of a single form that obtains quotes from a lot of companies. The form is fast, requires much less work on your part, and makes quoting online much more efficient. Immediately after you send the form, your coverage is rated and you can choose any or none of the returned quotes.

If a lower price is quoted, it’s easy to complete the application and purchase the new policy. This process only takes a few minutes and you will know how your current rates stack up.

In order to compare pricing, click here and submit your coverage information. If you have a policy now, it’s recommended you copy the coverages exactly as shown on your declarations page. This ensures you are getting a price comparison based on identical coverages.

Save big with these discounts

The price of auto insurance can be rather high, but discounts can save money and there are some available that you may not know about. Some discounts apply automatically when you quote, but a few must be specifically requested prior to getting the savings.

  • Safety Course Discount – Successfully completing a driver safety course could save 5% or more if your company offers it.
  • Life Insurance – Companies who offer life insurance give a discount if you purchase a life insurance policy as well.
  • Low Mileage Discounts – Driving fewer miles can qualify you for better rates on cars that stay parked.
  • Use Seat Belts – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% off your medical payments premium.
  • Sign Early and Save – Some insurance companies reward drivers for switching policies before your current expiration date. It can save you around 10%.
  • More Vehicles More Savings – Buying coverage for multiple cars or trucks on one policy qualifies for this discount.

It’s important to note that most discounts do not apply the the whole policy. A few only apply to specific coverage prices like comprehensive or collision. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way. Any qualifying discounts will cut your premiums.

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

Double check with all companies you are considering how you can save money. Savings may not apply in your state.

But I don’t know anything about car insurance

When it comes to buying adequate coverage for your personal vehicles, there is no perfect coverage plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For example, these questions might help in determining whether your personal situation would benefit from an agent’s advice.

  • Can I get a multi-policy discount?
  • Does my car insurance cover rental cars?
  • Am I missing any policy discounts?
  • If my pet gets injured in an accident are they covered?
  • Does my 2006 BMW 5 Series qualify for pleasure use?
  • Am I covered if I hit a deer?

If it’s difficult to answer those questions, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.

Insurance policy specifics

Learning about specific coverages of your insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Listed below are the usual coverages found on most insurance policies.

Auto collision coverage

Collision insurance covers damage to your 5 Series resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as crashing into a building, scraping a guard rail and crashing into a ditch. This coverage can be expensive, so consider dropping it from older vehicles. Another option is to bump up the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for immediate expenses for ambulance fees, X-ray expenses, EMT expenses and chiropractic care. They can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to getting struck while a pedestrian. PIP is not universally available and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your BMW 5 Series.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Comprehensive insurance

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like theft, rock chips in glass and falling objects. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability

This coverage will cover damage that occurs to a person or their property by causing an accident. It protects you from claims by other people, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 50/100/50 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage pays for things like medical expenses, attorney fees and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford.