Compare 2015 BMW X5 Insurance Rates

I can’t think of a single person who enjoys paying for insurance, particularly when the price is too high.

There are many auto insurance companies to choose from, and even though it’s nice to be able to choose, it makes it harder to find the lowest rates.

These discounts can lower your rates

The price of auto insurance can be rather high, but you can get discounts that you may not know about. A few discounts will automatically apply when you get a quote, but a few need to be asked for before being credited.

  • Good Student – A discount for being a good student can save 20 to 25%. The discount lasts up to age 25.
  • No Charge for an Accident – Some insurance companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a certain period of time.
  • Auto/Life Discount – Select insurance companies reward you with lower rates if you buy life insurance from them.
  • Use Seat Belts – Buckling up and requiring all passengers to use their safety belts can save 10% or more off your medical payments premium.
  • Braking Control Discount – Cars that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more.
  • Employee of Federal Government – Simply working for the federal government could cut as much as 10% off on X5 coverage depending on your company.
  • Senior Citizens – Older drivers may be able to get a small decrease in premiums on X5 coverage.
  • Passive Restraints – Vehicles with factory air bags or motorized seat belts can qualify for discounts of 20% or more.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems can help prevent theft and qualify for as much as a 10% discount.
  • Paperless Signup – A few companies give back up to $50 simply for signing digitally online.

Keep in mind that many deductions do not apply to all coverage premiums. Most cut the cost of specific coverages such as medical payments or collision. So even though they make it sound like all the discounts add up to a free policy, it doesn’t quite work that way. But all discounts will reduce your overall premium however.

To see a list of insurance companies with discount auto insurance rates, click this link.

Why your BMW X5 insurance rates may be high

Consumers need to have an understanding of the rating factors that come into play when calculating auto insurance rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that could result in lower auto insurance prices.

The list below includes some of the factors used by your company to calculate premiums.

  • Men pay higher rates – Statistics have proven that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. Men and women cause accidents in similar percentages, but men cause more damage. Men also get cited for more serious violations like reckless driving and DUI. Youthful male drivers tend to get in the most accidents and thus pay the highest rates.
  • Multiple policies with one company can save – Some auto insurance companies give discounts to insureds who consolidate policies with them, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to shop around to confirm you are receiving the best rates possible.
  • No coverage gaps is important – Having an insurance coverage lapse is a quick way to trigger a rate increase. Not only will you pay more, but being ticketed for driving with no insurance might get you a revoked license or a big fine.You may then be required to file a SR-22 with your state DMV.
  • Policy add-ons can waste money – There are many extra coverages you can purchase when buying auto insurance. Insurance for rental car reimbursement, better glass coverage and motor club memberships may be wasting your money. They may seem like a good idea when talking to your agent, but if you don’t need them eliminate the coverages to reduce your premium.
  • Rates may be higher depending on your occupation – Occupations like lawyers, executives and accountants tend to pay higher rates than average due to high stress levels and long work hours. On the flip side, professions such as actors, athletes and the unemployed have the lowest average rates on X5 coverage.

Different people need different coverages

When it comes to buying the right insurance coverage, there isn’t really a “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. Here are some questions about coverages that could help you determine whether you would benefit from an agent’s advice.

  • What is medical payments coverage?
  • Am I covered if I crash into my own garage door?
  • Is my teenager covered with friends in the car?
  • When should I buy a commercial auto policy?
  • Does liability extend to a camper or trailer?
  • Can I make deliveries for my home business?
  • Why am I required to buy high-risk coverage?

If you’re not sure about those questions then you might want to talk to a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Buyer beware of car insurance advertising tricks

Progressive, Geico, Allstate and State Farm constantly bombard you with ads on TV and radio. All the companies make the same claim that you’ll save big if you switch your policy. How does each company say the same thing?

All the different companies can use profiling for the type of driver that is profitable for them. An example of a desirable insured might be between 30 and 50, has no tickets, and has a short commute. A customer who fits that profile receives the best rates and as a result will probably save a lot of money.

Potential insureds who are not a match for the requirements must pay higher rates which leads to business not being written. The ad wording is “people who switch” not “everybody who quotes” save that much money. That’s why companies can truthfully make the claims of big savings.

This illustrates why it’s extremely important to get as many quotes as possible. It is impossible to predict which car insurance company will fit your personal profile best.

Auto insurance 101

Understanding the coverages of a car insurance policy can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are the normal coverages found on the average car insurance policy.

Comprehensive coverages – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as a broken windshield, rock chips in glass, vandalism and hitting a deer. The highest amount 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 it’s probably time to drop comprehensive insurance.

Auto liability insurance – This can cover injuries or damage you cause to a person or their property that is your fault. This coverage protects you against other people’s claims. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as repair bills for other people’s vehicles, structural damage, funeral expenses and attorney fees. How much liability should you purchase? That is up to you, but you should buy as much as you can afford.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for bills for nursing services, funeral costs, surgery, pain medications and X-ray expenses. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Collision – This will pay to fix damage to your X5 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things like sideswiping another vehicle, scraping a guard rail, sustaining damage from a pot hole, backing into a parked car and colliding with another moving vehicle. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. You can also bump up the deductible to bring the cost down.

Uninsured and underinsured coverage – This gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your BMW X5.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Frequently these coverages are set the same as your liablity limits.

At the end of the day…

Low-cost 2015 BMW X5 insurance can be purchased online and with local insurance agents, so compare prices from both in order to have the best price selection to choose from. There are still a few companies who do not offer you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.

When you buy insurance online, it’s very important that you do not buy poor coverage just to save money. In many instances, someone dropped full coverage only to regret that the small savings ended up costing them much more. Your aim should be to find the BEST coverage at a price you can afford, not the least amount of coverage.

Much more information about insurance can be found at the links below