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BMW 5 Series Insurance Rates

You have many choices when trying to insure your BMW vehicle. You can buy from a local agent or go online to compare insurance costs of insurance providers. Buying auto insurance by comparing rates online can be fast and easy, in addition you might just save a little.

If you're new to shopping for auto insurance online, you may be confused by the hoards of online companies vying for your business. Finding a lower price on 5 Series insurance can be quick and easy. You just have to take a little time to get quotes provided by online insurance companies. This can be accomplished by getting a quick quote here.

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Criteria which help determine car insurance premiums

Auto insurance rates paid to insure a BMW 5 Series will vary greatly depending on several factors. A few of these criteria are:

  • Higher performance 5 Series vehicles cost more
  • Your accident history
  • Multiple policies can save money
  • How you use your vehicle
  • Optional coverages like vehicle replacement
  • Claims drive up premiums
  • No coverage lapses saves money
  • Owning a home can lower rates

A final factor that helps determine 5 Series insurance rates is the model year. Models that are new cost more in comparison to later models so the cost to replace them will push premiums up. Conversely, more recent BMW vehicles may have a trim level with safety features such as dual-stage airbags, a rollover prevention system, and lane departure warning system so those may help offset higher rates.

To get a better idea how much rates will be for your vehicle, select the year of your 5 Series from the following list.

Auto liability insurance

This coverage will cover injuries or damage you cause to a person or their property in an accident. Liability insurance covers claims such as funeral expenses, loss of income, and emergency aid. Coverage is generally pretty cheap so consider buying as much as you can afford.

Collision coverage

Collision insurance will pay to fix damage to your BMW from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.

Comprehensive insurance

This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by your BMW 5 Series comprehensive insurance. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.

Uninsured Motorist or Underinsured Motorist insurance

This coverage provides protection from other drivers when they are uninsured or don't have enough coverage. Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage pay for bills (i.e. ambulance fees, surgery, and doctor visits). They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. Personal Injury Protection is only offered in select states and may carry a deductible.

How Much are BMW 5 Series Insurance Rates?