2007 BMW 5 Series Car Insurance Cost – 5 Tips to Save

Want better auto insurance rates for your BMW 5 Series? Trying to find better insurance prices for a BMW 5 Series can turn out to be a lot of work, but you can use these tips to find lower rates. There is a better way to compare auto insurance rates and you need to know the proper way to get price quotes for a BMW and get the best price possible from local insurance agents and online providers.

If you have insurance now or are looking for a new policy, you will benefit by learning to get lower rates and possibly find even better coverage. Pricing the best insurance can be fairly easy. Consumers just need to know the best way to find the lowest price online.

Are you getting all your discounts?

Auto insurance companies don’t always list all their discounts in an easy-to-find place, so we break down some of the best known and the harder-to-find discounts you could be receiving. If they aren’t giving you every credit available, you’re paying more than you need to.

  • Seat Belts Save – Requiring all passengers to buckle their seat belts can save up to 15% off the personal injury premium cost.
  • Air Bag Discount – Cars that have air bags or automatic seat belts may earn rate discounts up to 30%.
  • Fewer Miles Equal More Savings – Fewer annual miles on your BMW can earn better rates on cars that stay parked.
  • Employee of Federal Government – Employees or retirees of the government can save as much as 8% for 5 Series insurance with certain companies.
  • One Accident Forgiven – A few companies allow you one accident before hitting you with a surcharge if your claims history is clear for a set time period.

Keep in mind that some credits don’t apply to the entire policy premium. Some only reduce specific coverage prices like collision or personal injury protection. So even though they make it sound like having all the discounts means you get insurance for free, companies don’t profit that way.

A partial list of companies who might offer these discounts are:

Before buying, ask each insurance company what discounts are available to you. Some discounts may not apply in your area.

When might I need an agent?

When it comes to choosing adequate coverage for your personal vehicles, there is no single plan that fits everyone. Your needs are not the same as everyone else’s.

For example, these questions may help highlight if your situation will benefit from professional help.

  • Do I have any recourse if my insurance company denies a claim?
  • What is an SR-22 filing?
  • How much liability coverage do I need in my state?
  • Is my teen driver covered when they drive my company car?
  • Should I put collision coverage on all my vehicles?
  • Which companies will insure high-risk drivers?
  • Do I really need UM/UIM coverage?
  • What is the ISO rating for a 2007 BMW 5 Series?
  • How high should deductibles be on a 2007 BMW 5 Series?
  • What can I do if my company won’t pay a claim?

If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you don’t have a local agent, simply complete this short form. It only takes a few minutes and can help protect your family.

Save $485 a year. For real?

Drivers get pounded daily by advertisements that promise big savings by companies like 21st Century, Allstate and State Farm. They all make the same claim about savings if you change to them.

How do they all say the same thing?

Different companies have a certain “appetite” for the type of driver that earns them a profit. An example of a profitable customer might be over the age of 40, owns a home, and drives newer vehicles. A driver that hits that “sweet spot” is entitled to the best price and most likely will save a lot of money.

Consumers who are not a match for these standards will be quoted more money which usually ends up with business not being written. The ads state “customers who switch” but not “drivers who get quotes” save that much money. That is how insurance companies can confidently claim big savings. This emphasizes why drivers should get quotes from several different companies. It’s not possible to predict which insurance coverage company will have the lowest BMW 5 Series insurance rates.

Car insurance coverage specifics

Having a good grasp of car insurance aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be difficult to understand and reading a policy is terribly boring.

Uninsured or underinsured coverage

This protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW 5 Series.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for bills such as EMT expenses, funeral costs, rehabilitation expenses, prosthetic devices and dental work. They are often used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Comprehensive protection

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

Comprehensive can pay for things such as hitting a bird, vandalism and fire damage. The highest amount a car insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.


Liability insurance can cover damage or injury you incur to a person or their property by causing an accident. 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. You commonly see limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.

Liability coverage protects against claims like repair bills for other people’s vehicles, bail bonds and emergency aid. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.

Coverage for collisions

This coverage will pay to fix damage to your 5 Series from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like backing into a parked car, damaging your car on a curb and crashing into a building. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. You can also bump up the deductible in order to get cheaper collision rates.

Be a Smart Shopper

People who switch companies do it for a number of reasons such as questionable increases in premium, being labeled a high risk driver, poor customer service or even denial of a claim. Regardless of your reason for switching companies, finding a great new company can be pretty painless.

While you’re price shopping online, it’s very important that you do not reduce coverage to reduce premium. In many cases, someone sacrificed liability limits or collision coverage only to find out that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to find the BEST coverage for the lowest price.

We’ve covered a lot of techniques to reduce 2007 BMW 5 Series insurance prices online. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. You may be surprised to find that the best prices are with a company that doesn’t do a lot of advertising.

Additional information can be read at the links below