2003 BMW 5 Series Car Insurance Rates

Consumers who are new to buying insurance online may find buying affordable insurance nearly impossible.

The purpose of this post is to let you in on how car insurance quotes work and some tips to save money. If you are paying for car insurance now, you stand a good chance to be able to reduce your rates substantially using this strategy. But vehicle owners can benefit by having an understanding of how big insurance companies sell insurance online.

How to Get Auto Insurance Comparison Quotes

Most companies give price estimates online. This process is quite easy as you just enter your personal and coverage information into a form. After you submit the form their system will obtain credit information and your driving record and quotes a price.

Online quotes simplifies rate comparisons, but having to visit multiple sites and type in the same information can be a bit repetitive. Unfortunately, it is important to do this in order to find better auto insurance pricing.

A less time-consuming method to find cheaper rates utilizes a single form to get prices from multiple companies. The form is fast, requires much less work on your part, and makes comparison shopping much simpler. After sending the form, it is rated and you can select your choice of the price quotes you receive.

If a lower price is quoted, you can click and sign and buy the new coverage. The whole process only takes a few minutes and may save quite a bit of money.

If you want to fill out one form to compare multiple rates now, simply click here to open in new window and submit the form. To compare your current rates, we recommend you input your coverages identical to your current policy. Using the same limits helps guarantee you are getting comparison quotes for similar insurance coverage.

You are unique and your insurance coverage should be too

When choosing adequate coverage, there really is no single plan that fits everyone. Your needs are not the same as everyone else’s.

Here are some questions about coverages that may help highlight whether your personal situation could use an agent’s help.

  • Does medical payments coverage apply to all occupants?
  • Is a fancy paint job covered?
  • Should I have a commercial auto policy?
  • Do I need rental car coverage?
  • Am I missing any policy discounts?
  • What should my uninsured motorist coverage limits be in my state?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, complete this form.

Car insurance coverages for a 2003 BMW 5 Series

Understanding the coverages of car insurance can be of help when determining which coverages you need and proper limits and deductibles. Car insurance terms can be impossible to understand and coverage can change by endorsement.

Liability coverage

This provides protection from damage or injury you incur to other people or property. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.

Liability insurance covers claims like pain and suffering, repair costs for stationary objects and bail bonds. How much liability should you purchase? That is your choice, but you should buy as much as you can afford.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your BMW 5 Series.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Coverage for collisions

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

Collision insurance covers claims like damaging your car on a curb, backing into a parked car, crashing into a building and crashing into a ditch. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also increase the deductible in order to get cheaper collision rates.

Comprehensive coverage

This will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like damage from getting keyed, rock chips in glass and theft. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like hospital visits, ambulance fees and doctor visits. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible