2013 BMW 5 Series Insurance Rates

Looking for better insurance rates for your BMW 5 Series? Having to pay for overpriced BMW 5 Series insurance can take a big chunk out of your bank account and force you to make sacrifices. Comparing price quotes is free and is an excellent way to help make ends meet.

With consumers having so many options, it can be hard to pick the lowest cost insurer.

Get lower rates on 2013 BMW 5 Series insurance

The price of auto insurance can be rather high, but there could be available discounts that many people don’t even know exist. Some discounts apply automatically when you complete an application, but a few need to be specially asked for before you get the savings.

  • Anti-theft Discount – Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • Seat Belt Usage – Buckling up and requiring all passengers to buckle their seat belts can save up to 15% off the personal injury premium cost.
  • Defensive Driving Course – Taking a driver safety course could save 5% or more if you qualify.
  • Memberships – Being a member of a qualifying organization may earn a discount on auto insurance on 5 Series insurance.
  • Auto/Home Discount – If you insure your home and vehicles with one insurance company you may earn at least 10% off all policies.
  • Good Students Pay Less – Performing well in school can be rewarded with saving of up to 25%. The discount lasts up until you turn 25.
  • Fewer Miles Equal More Savings – Driving fewer miles can earn a substantially lower rate.
  • Federal Government Employee – Employees or retirees of the government can earn a discount up to 10% on 5 Series insurance with select insurance companies.
  • Auto/Life Discount – Companies who offer life insurance give better rates if you take out life insurance from them.

It’s important to note that some credits don’t apply to your bottom line cost. Most cut specific coverage prices like medical payments or collision. So when the math indicates it’s possible to get free car insurance, it doesn’t quite work that way. Any qualifying discounts will bring down your premiums.

A partial list of companies that possibly offer some of the above discounts are:

Before buying, ask all companies you are considering how you can save money. All car insurance discounts may not be available in your area.

Finding Car Insurance

Effectively comparing car insurance prices can take time and effort if you aren’t aware of the best way to get rate quotes. You can waste a lot of time driving to insurance agencies in your area, or you could use online quotes to accomplish the same thing much quicker.

The majority of car insurance companies are enrolled in a marketplace that allows shoppers to enter their policy data once, and every company returns a rated price. This eliminates the need for form submissions for every car insurance company.

To compare 2013 BMW 5 Series rates now click to open in new window.

The one disadvantage to doing it this way is that consumers can’t choose which companies you want to price. If you wish to select from a list of companies to compare prices, we have a page of companies who write car insurance in your area. Click here to view list.

It’s your choice how you get your quotes, but ensure you are comparing identical quote information with every price quote. If your comparisons have differing limits it will be impossible to decipher which rate is best. Just a small difference in coverage limits can result in a big premium difference. And when price shopping your coverage, having more price comparisons helps you find the best price.

Why you might be paying too much to insure your BMW 5 Series

Smart consumers have a good feel for the different types of things that come into play when calculating your insurance rates. Having a good understanding of what influences your rates empowers consumers to make smart changes that can help you get big savings.

  • Little extras can really add up – There are quite a few extra bells and whistles that you can buy on your insurance policy. Things like roadside assistance, towing coverage and additional equipment coverage may be wasting your money. They may seem good at first, but now you might not need them so remove them from your policy.
  • How’s your driving record? – Your driving record impacts your car insurance rates tremendously. Even a single moving violation can increase rates twenty percent or more. Good drivers tend to pay less for car insurance than their less careful counterparts. Drivers who get dangerous violations like DWI, reckless driving or hit and run convictions may be required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to prevent a license revocation.
  • Sex matters – The statistics show that women are safer drivers than men. Now that doesn’t mean women are BETTER drivers than men. Both sexes tend to get into accidents in similar percentages, but the men tend to have more serious accidents. Men also statistically get cited for more serious violations such as DWI and reckless driving.
  • Adjust deductibles and save – The deductibles define the amount you are willing to pay if you file a covered claim. Insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your car. Some examples of claims that would be covered are running into the backend of another car, collision with an animal, and rolling your vehicle. The more expense the insured has to pay upfront, the lower your rates will be on 5 Series insurance.
  • Don’t let your coverage lapse – Having an insurance coverage lapse is a sure-fire way to bump up your insurance costs. And not only will insurance be more expensive, but not being able to provide proof of insurance will get you a hefty fine and possibly a revoked license.You may need to file a SR-22 with your state motor vehicle department.
  • Your insurance rates can be influenced by your job – Jobs such as judges, business owners and stock brokers tend to have the highest rates because of stressful work requirements and lots of time spent at work. On the other hand, professions such as scientists, students and the unemployed receive lower rates on 5 Series insurance.
  • Protect yourself with liability coverage – Liability coverage will protect you when you are found to be at fault for damages from an accident. Liability provides you with a defense in court up to the limits shown on your policy. Liability insurance is quite affordable when compared with rates for comp and collision, so do not cut corners here.
  • Do you know you’re credit rating? – Credit rating is a important factor in determining your rates. People with high credit ratings tend to be more responsible than drivers with lower ratings. If your credit rating can use some improvement, you could pay less to insure your 2013 BMW 5 Series by improving your credit score.

Tailor your coverage to you

When buying proper insurance coverage, there is no “perfect” insurance plan. Every insured’s situation is different and your policy should reflect that. For instance, these questions might point out whether or not you might need professional guidance.

  • Should I buy only the required minimum liability coverage?
  • How do I buy GAP insurance?
  • How much underlying liability do I need for an umbrella policy?
  • Do I need to file an SR-22 for a DUI in my state?
  • What happens if I owe more than my 2013 BMW 5 Series is worth?
  • Is motorclub coverage worth it?
  • Is my camper covered by my car insurance policy?
  • Am I covered by my spouse’s policy after a separation?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.

Slick advertising tricks that work

Companies like Allstate and Progressive regularly use television and radio advertisements. All the ads make the same claim that you’ll save big if you move to their company. How does each company say the same thing? It’s all in the numbers.

All the different companies have a certain “appetite” for the type of customer that earns them a profit. For instance, a profitable customer might be profiled as between the ages of 40 and 55, a clean driving record, and has great credit. Any new insured who meets those qualifications is entitled to the best price and is almost guaranteed to cut their rates substantially.

Consumers who are not a match for the requirements will be charged higher premiums and ends up with business going elsewhere. The ad wording is “customers who switch” not “people who quote” save that much money. That is how insurance companies can make the claims of big savings.

That is why it’s extremely important to quote coverage with many companies. It’s impossible to know which car insurance company will have the lowest BMW 5 Series insurance rates.

Auto insurance coverage specifics

Having a good grasp of your auto insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. Below you’ll find typical coverage types found on most auto insurance policies.

Coverage for medical payments – Medical payments and Personal Injury Protection insurance pay for bills for things like pain medications, chiropractic care, nursing services and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto liability – Liability insurance can cover damage that occurs to other people or property in an accident. This coverage protects you against other people’s claims. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers things like attorney fees, pain and suffering, repair costs for stationary objects, medical expenses and legal defense fees. How much liability should you purchase? That is your choice, but consider buying as much as you can afford.

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

Comprehensive can pay for things such as hitting a deer, fire damage, vandalism, damage from flooding and a broken windshield. The most 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 not worth carrying full coverage.

Collision coverages – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims such as damaging your car on a curb, hitting a parking meter, crashing into a building and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. You can also bump up the deductible to bring the cost down.

Uninsured and underinsured coverage – This gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your BMW 5 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently these coverages are similar to your liability insurance amounts.

You can do this!

You just read many tips how you can save on 2013 BMW 5 Series insurance. The key thing to remember is the more rate quotes you have, the better chance you’ll have of finding lower rates. Consumers could even find that the lowest rates come from a smaller regional carrier. These companies often have lower prices on specific markets than the large multi-state companies such as State Farm, GEICO and Nationwide.

Cheaper insurance can be found from both online companies as well as from independent agents, so compare prices from both to have the best rate selection. Some insurance companies don’t offer you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

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