View 2016 BMW X5 eDrive Car Insurance Rates

Searching for better insurance coverage rates for your BMW X5 eDrive? Paying for pricey BMW X5 eDrive insurance can deplete your budget and put the squeeze on your family’s finances. Comparing rate quotes can lower your rates and help to cut your insurance bill.

Big-name insurance companies like GEICO, Farmers Insurance and State Farm persitently shower you with fancy advertisements and it is challenging if not impossible to ignore the propoganda and take the time to shop coverage around.

It is always a good idea to take a look at other company’s rates every six months because prices tend to go up over time. Even if you think you had the lowest price on X5 eDrive insurance on your last policy you can probably find a lower rate today. Forget anything you know (or think you know) about insurance coverage because I’m going to teach you the tricks you need to know to find better rates and still maintain coverage.

Auto insurance quotes comparison

Lowering your 2016 BMW X5 eDrive auto insurance rates is not a difficult process. Just take a couple of minutes to get quotes from different insurance companies. It’s really simple and can be done in just a few minutes using one of these methods.

  • One of the simplest ways to get quotes for comparison would be an industry-wide quote request form click here to open form in new window. This style of form prevents you from having to do separate forms to each individual auto insurance company. Just one form will get you price quotes from many national carriers.
  • A harder way to find better pricing requires a trip to the website of each company and get a separate price quote. For example, let’s assume you want to get rates from Nationwide, Allstate and Liberty Mutual. In order to get each rate, you would have to go to each individual site and enter your information, which is why the first method is quicker.

    For a list of links to insurance companies in your area, click here.

  • The old school way to compare rates is to spend time driving to insurance agencies in your area. The ability to quote online eliminates the middleman unless you require the peace of mind that only a licensed agent can provide. Drivers can comparison shop your insurance online but still have the advice of a local agent.

The approach you take is up to you, just make sure you compare the same quote data for each quote you get. If each company quotes different limits and deductibles on each one it’s impossible to determine the lowest rate for your BMW X5 eDrive.

Don’t overlook these insurance discounts

Insurance is easily one of your largest bills, but discounts can save money and there are some available that you may not even know about. Certain discounts will be applied when you get a quote, but some discounts are required to be manually applied in order for you to get them.

  • Early Renewal Discounts – Select insurance companies give a discount for buying a new policy before your current expiration date. The savings is around 10%.
  • Multiple Vehicles – Drivers who insure all your vehicles on one policy qualifies for this discount.
  • Data Collection Discounts – Drivers who agree to allow driving data collection to track where and when they drive by using a telematic data system like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease if they are good drivers.
  • Responsible Drivers – Accident-free drivers could pay up to 40% less on X5 eDrive insurance compared to accident prone drivers.
  • Multi-policy Discount – If you combine your homeowners and auto policies and place coverage with the same company they may give you a discount of at least 10 to 15 percent or more.
  • ABS and Traction Control Discounts – Cars and trucks with ABS and/or traction control can reduce accidents and qualify for as much as a 10% discount.
  • Discounts for Government Workers – Employees or retirees of the government may reduce rates when you quote auto insurance on X5 eDrive insurance depending on your insurance provider.
  • Distant Student Discount – Older children who attend college more than 100 miles from home and won’t have access to an insured vehicle could qualify for this discount.
  • Discount for Low Mileage – Driving fewer miles could qualify for substantially lower rates.
  • Club Memberships – Joining certain professional organizations could earn you a nice discount when shopping for insurance.

It’s important to note that most of the big mark downs will not be given to the entire policy premium. Most cut individual premiums such as comp or med pay. Despite the fact that it seems like you would end up receiving a 100% discount, nobody gets a free ride.

A list of insurance companies and some of the discounts can be read below.

  • State Farm includes discounts for good driver, safe vehicle, passive restraint, accident-free, defensive driving training, and Steer Clear safe driver discount.
  • American Family may have discounts that include multi-vehicle, defensive driver, bundled insurance, Steer into Savings, air bags, good student, and TimeAway discount.
  • AAA has discounts for anti-theft, good student, good driver, AAA membership discount, multi-policy, and education and occupation.
  • GEICO policyholders can earn discounts including military active duty, multi-policy, defensive driver, anti-lock brakes, federal employee, and good student.
  • Mercury Insurance discounts include professional/association, good driver, ease of repair, anti-theft, accident-free, type of vehicle, and multi-car.
  • Farmers Insurance may include discounts for pay in full, alternative fuel, multi-car, switch companies, youthful driver, and electronic funds transfer.
  • Progressive has savings for online signing, continuous coverage, online quote discount, multi-policy, and homeowner.

Double check with every insurance company what discounts are available to you. Depending on the company, some discounts might not be offered in every state.

Get more affordable insurance costs by understanding these factors

Smart consumers have a good feel for the different types of things that aid in calculating your policy premiums. If you understand what impacts premium levels, this allows you to make good choices that may reward you with big savings.

Shown below are some of the items companies use to determine your premiums.

  • Low credit history equals high costs – Having a good credit score is a big factor in determining premium rates. Drivers with very good credit scores tend to file fewer claims than drivers with poor credit. Therefore, if your credit rating could use some work, you may save money insuring your 2016 BMW X5 eDrive if you clean up your credit.
  • Eliminate extra coverages – Insurance companies have many add-on coverages you can purchase but may not be useful. Coverage for things like rental car coverage, towing, and extra equipment coverage may not be needed and are just wasting money. These coverages may sound good when talking to your agent, but if you’ve never needed them in the past consider taking them off your policy.
  • Costs are affected by your address – Being located in a rural area is a good thing when it comes to insurance coverage. Urban drivers have much more traffic and higher rates of accident claims. Less people corresponds to lower accident rates in addition to lower liability claims
  • Cars with good safety ratings save money – Vehicles that have high safety ratings cost less to insure. The safest vehicles reduce occupant injuries and lower injury rates means your insurance company pays less and lower rates for you. If your BMW X5 eDrive has at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.

When to get professional advice

When choosing adequate coverage, there is no “best” method to buy coverage. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that may help you determine whether you might need professional guidance.

  • Should I carry comprehensive and collision coverage?
  • Why is insurance for a teen driver so high?
  • Am I covered if I wreck a rental car?
  • I have health insurance so do I need medical payments coverage?
  • When does my teenage driver need to be added to my policy?
  • Am I getting all the discounts available?
  • Is my trailer covered?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form or you can also visit this page to select a carrier It’s fast, free and can provide invaluable advice.

Coverage specifics

Understanding the coverages of your auto insurance policy helps when choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverages offered by auto insurance companies.

UM/UIM Coverage

This protects you and your vehicle when other motorists either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries as well as damage to your BMW X5 eDrive.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.

Collision insurance

Collision coverage covers damage to your X5 eDrive resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims like colliding with another moving vehicle, hitting a mailbox and rolling your car. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to bring the cost down.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like dental work, chiropractic care and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Liability coverages

Liability coverage protects you from injuries or damage you cause to people or other property by causing an accident. It protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers things like repair costs for stationary objects, repair bills for other people’s vehicles and pain and suffering. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.

Comprehensive or Other Than Collision

Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for claims such as hitting a deer, theft, hitting a bird, fire damage and falling objects. The most your auto insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Quote often and quote early

You just read a lot of ways to compare 2016 BMW X5 eDrive insurance car insurance rates online. The most important thing to understand is the more times you quote, the higher the chance of saving money. You may be surprised to find that the lowest car insurance rates come from a lesser-known regional company. These companies may often insure only within specific states and give getter rates than their larger competitors like Progressive or GEICO.

While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many instances, an insured cut physical damage coverage and discovered at claim time that the small savings ended up costing them much more. Your goal is to buy a smart amount of coverage at the best possible price.

Additional auto insurance information is available on the following sites: