Buyers have a choice when searching for affordable BMW 5 Series insurance. They can either spend hours driving around to get rate comparisons or use the internet to compare rates. There is a better way to buy insurance so we’re going to tell you the absolute fastest way to get price quotes on a BMW and find the lowest price from local insurance agents and online providers.
There are a variety of methods to shop for 2011 BMW 5 Series insurance, but one way is less time-consuming than others. You can waste a few hours (or days) talking about coverages with insurance companies in your area, or you could save time and use online quoting to get prices fast.
Most major companies participate in an industry program where prospective buyers enter their policy data once, and at least one company can provide price quotes based on the submitted data. This prevents consumers from doing quote requests for each company you want a rate for.
To submit your quote information now, click here (opens in new window).
One minor caviat to pricing coverage this way is that you can’t choose which insurance companies you will receive quotes from. So if you prefer to pick individual companies to compare prices, we put together a list of low cost insurance companies in your area. Click here to view list.
Which method you use is up to you, but ensure you are comparing identical coverages on every quote you get. If you are comparing different limits and deductibles on each one you will not be able to decipher which rate is best.
Consumers can’t ignore all the ads for the lowest price auto insurance by State Farm, GEICO and Progressive. All the ads make an identical promise that you’ll save big if you switch to their company.
But how can every company claim to save you money?
Different companies have a preferred profile for the driver that makes them money. For example, a preferred risk might be over the age of 50, has no tickets, and has a high credit rating. A customer getting a price quote who fits that profile will get the preferred rates and most likely will save a lot of money.
Consumers who are not a match for the requirements will have to pay higher premiums and ends up with the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save that much. That is how companies can make those claims. Because of the profiling, it’s extremely important to compare many company’s rates. It’s just too difficult to predict which insurance companies will give you the biggest savings on BMW 5 Series insurance.
Companies offering auto insurance don’t always list every available discount in a way that’s easy to find, so we researched some of the more common and the harder-to-find discounts you could be receiving. If you aren’t receiving every discount you deserve, you’re just leaving money on the table.
Keep in mind that most discounts do not apply the the whole policy. Some only reduce specific coverage prices like comp or med pay. So when the math indicates all those discounts means the company will pay you, it just doesn’t work that way.
To see a list of companies with discount car insurance rates, follow this link.
When it comes to buying adequate coverage, there really is no perfect coverage plan. Your needs are not the same as everyone else’s.
Here are some questions about coverages that may help highlight if your situation might need an agent’s assistance.
If you’re not sure about those questions but you know they apply to you, you may need to chat with an insurance agent. To find an agent in your area, simply complete this short form. It is quick, free and may give you better protection.
Knowing the specifics of a insurance policy helps when choosing which coverages you need for your vehicles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as hitting a bird, damage from a tornado or hurricane, a tree branch falling on your vehicle, hail damage and damage from getting keyed. The most a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.
Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage reimburse you for bills such as EMT expenses, X-ray expenses and rehabilitation expenses. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims such as crashing into a ditch, sideswiping another vehicle, damaging your car on a curb, rolling your car and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Drivers also have the option to bump up the deductible to bring the cost down.
Liability insurance protects you from damages or injuries you inflict on a person or their property that is your fault. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 50/100/50 which stand for a $50,000 limit per person for injuries, $100,000 for the entire accident, and property damage coverage for $50,000.
Liability can pay for things such as loss of income, repair bills for other people’s vehicles and legal defense fees. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase higher limits if possible.
Consumers who switch companies do it for a variety of reasons including delays in paying claims, lack of trust in their agent, policy cancellation or poor customer service. Whatever your reason, finding a great new company can be easier than you think.
When buying insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There have been many situations where someone sacrificed comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to find the BEST coverage at a price you can afford while not skimping on critical coverages.
The cheapest 2011 BMW 5 Series insurance can be sourced from both online companies in addition to many insurance agents, and you need to comparison shop both to have the best selection. Some car insurance companies do not provide online price quotes and these smaller companies work with independent agents.