Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

Full Bio →

Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 6, 2015

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.

Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Using the web to shop for insurance coverage quotes online can seem difficult if you are a beginner to online auto insurance quotes. Don’t worry though because comparing rates is actually very simple.

How to buy auto insurance

Shopping for lower auto insurance rates can take time and effort if you don’t understand the most efficient way. You could waste time discussing policy coverages with agents in your area, or you could save time and use online quoting to get the quickest rates.

Many popular insurance companies are enrolled in a marketplace that enables customers to submit their information once, and each participating company then returns a price quote for coverage. This eliminates the need for quote forms for each company you want a rate for.

To use this form to compare rates click here to open in new window.

The one downside to using this type of system is you can’t choose which companies you want pricing from. If you prefer to choose specific insurance companies to compare, we have a page of auto insurance companies in your area. Click here to view list.

It’s up to you how you get prices quotes, just try to keep identical quote data on every quote you get. If you are comparing different limits and deductibles on each one it will be impossible to make an equal comparison. Just a small difference in insurance coverages may result in large price differences. And when quoting auto insurance, remember that comparing a wide range of rates helps locate a better price. Some smaller insurers to not give price estimates online, so you should also compare prices from the smaller companies as well.

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

Switch companies and save? Really?

21st Century, Allstate and State Farm seem to constantly run television, radio, and online ads. All the ads advertise claims about saving some big amount if you change your policy. How does each company charge you a lower premium? It’s all in the numbers.

Different companies quote their best rates for a prospective insured that will most likely be profitable. A good example of a desirable risk may be over the age of 50, has a low-risk occupation, and has excellent credit. Anyone that meets those criteria will probably get the lowest prices and most likely will save money with a new company.

Consumers who do not meet the ideal profile will probably be forced to pay a higher premium which usually ends up with business going elsewhere. The wording the ads use say “drivers that switch” not “everybody who quotes” will save that much if they switch. That’s the way insurance companies can confidently make it sound like they have such great premium rates. This really drives home the point why you should compare free insurance coverage quotes often. You cannot predict which company will give you the biggest savings.

Insurance companies offer money-saving discounts

Companies offering auto insurance do not advertise all disounts in an easy-to-find place, so the next list breaks down both the well known in addition to some of the lesser obvious insurance savings. If you do not check that you are getting every discount you deserve, you’re paying more than you need to.

  • Multiple Vehicles – Buying coverage for multiple cars or trucks on a single policy can get a discount for every vehicle.
  • Discounts for Government Workers – Active or retired federal employment could qualify for a slight premium decrease on M5 coverage depending on your insurance provider.
  • Paperwork-free – Many insurance companies provide a small discount for buying your policy on the internet.
  • Active Military Service – Being deployed with a military unit may qualify for rate reductions.
  • Theft Prevention Discount – Cars and trucks equipped with anti-theft or alarm systems have a lower chance of being stolen and earn discounts up to 10% off your insurance coverage quote.
  • Driver’s Education for Students – Teen drivers should complete a driver education course in school.

Please keep in mind that many deductions do not apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. Despite the fact that it seems like you would end up receiving a 100% discount, you’re out of luck.

To find companies that offer many of these discounts, click this link.

Do I just need basic coverages?

When it comes to buying the right insurance coverage, there really is no “best” method to buy coverage. Each situation is unique.

For instance, these questions can help discover if you would benefit from an agent’s advice.

  • If my pet gets injured in an accident are they covered?
  • Do I need PIP coverage since I have good health insurance?
  • What if I don’t agree with a claim settlement offer?
  • Can I still get insurance after a DUI?
  • Do all my vehicles need collision coverage?
  • Does my liability insurance cover pulling a trailer or camper?

If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form.

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

Coverages available on your policy

Learning about specific coverages of insurance aids in choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as damage to your BMW M5.

Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Liability insurance – This coverage can cover damage or injury you incur to other’s property or people. This coverage protects you from claims by other people. Liability doesn’t 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. Your policy might show liability limits of 50/100/50 that translate to $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for things such as attorney fees, structural damage, bail bonds, pain and suffering and legal defense fees. How much liability coverage do you need? That is a decision to put some thought into, but buy higher limits if possible.

Collision coverage – This coverage pays for damage to your M5 resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims like sideswiping another vehicle, hitting a mailbox, driving through your garage door and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.

Comprehensive coverage – This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like hitting a deer, damage from flooding and a tree branch falling on your vehicle. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills for things like chiropractic care, funeral costs, X-ray expenses and EMT expenses. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

A little work can save a LOT of money

You just learned many tips how you can get a better price on 1991 BMW M5 insurance. The key concept to understand is the more you quote insurance coverage, the better your chances of lowering your premium rates. Consumers may even find the lowest car insurance rates come from an unexpected company.

As you prepare to switch companies, it’s not a good idea to buy poor coverage just to save money. There have been many cases where someone dropped collision coverage and learned later that the few dollars in savings costed them thousands. The goal is to purchase plenty of coverage at the lowest possible cost, but don’t skip important coverages to save money.

Drivers leave their current company for many reasons like delays in responding to claim requests, an unsatisfactory settlement offer, being labeled a high risk driver and high prices. It doesn’t matter why you want to switch choosing a new insurance company is less work than it seems.

Other articles