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...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

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.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 6, 2015

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Price shopping your Driverscar insurance can seem to be kind of frustrating for drivers who are beginners to buying insurance online. With so many companies in the marketplace, it can quickly become hard work to lower your prices.

If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using these tips. Finding cheaper coverage is quite easy. Nevertheless, drivers need to learn how big insurance companies market insurance on the web and take advantage of how the system works.

Affordable insurance coverage quotes

When shopping for low cost auto insurance quotes, there are a couple of ways to obtain and compare prices from many different insurance companies. The best way to do a complete rate comparison involves getting comparison quotes online. It’s really quite simple and can be done in a couple minutes as outlined below.

  1. The easiest and least time consuming way to get quotes for comparison is an all-inclusive rate comparison click to view form in new window. This method saves time by eliminating multiple quote forms for each price estimate. One simple form will return price quotes instantly. Just one form and you’re done.
  2. A more difficult way to find better pricing consists of visiting each individual company website and request a quote. For example, let’s assume you want to get rates from GEICO, Liberty Mutual and American Family. You would need to visit each site and repeatedly enter your information, which can get old fast. For a list of companies in your area, click here.

You can choose any of those ways to find more affodable coverage, but make darn sure you compare the exact same coverages and limits on every quote. If the quotes have higher or lower deductibles you will not be able to determine which company has the best rates. Even a minor difference in insurance coverages could throw off the whole comparison. Keep in mind that having more price comparisons increases the change that you will find more affordable rates. Not every company provides price estimates online, so it’s important to also get price estimates from those companies as well.

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

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The ad said I’d save $430 a year!

Car insurance companies such as Progressive, Allstate and GEICO consistently run ads on television and other media. They all state the claim about how much you will save just by moving your policy. How do they all offer you a better deal? This is the trick they use.

Insurance companies can use profiling for the driver that earns them the highest profit. For example, a preferred risk could be between the ages of 30 and 50, is a homeowner, and insures a new vehicle. Someone that hits that “sweet spot” receives the best rates and is almost guaranteed to save when switching.

Insureds who don’t measure up to these standards may be forced to pay higher premiums and this can result in the customer buying from someone else. The ads state “drivers that switch” but not “everyone who gets a quote” save that much when switching. This is how companies can state the savings.

Because of this risk profiling, you need to compare price quotes frequently. It’s impossible to know which car insurance company will be your best fit.

More affordable rates with these discounts

Car insurance is not cheap, but there’s a good chance there are discounts that you may not even be aware of. Larger premium reductions will be automatically applied at the time you complete a quote, but some must be manually applied before being credited.

  • Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a lower rate if you buy some life insurance too.
  • Accident Forgiveness – but companies like Libery Mutual, GEICO and Allstate permit an accident before hitting you with a surcharge if you are claim-free before the accident.
  • Active Service Discounts – Having a family member in the military could qualify you for better premium rates.
  • Discounts for Responsible Drivers – Safe drivers may save up to 50% more on 5 Series insurance as compared to drivers with claims.
  • Multi-Vehicle Discounts – Purchasing coverage when you have multiple cars with the same insurance company can reduce the rates for all insured vehicles.
  • Senior Citizen Discount – Mature drivers can get better insurance rates on 5 Series insurance.
  • Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.

You should keep in mind that many deductions do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as liability and collision coverage. So when it seems like it’s possible to get free car insurance, you aren’t that lucky.

A partial list of companies that may offer quotes with most of these discounts are:

When comparing rates, check with all the companies which credits you are entitled to. Discounts might not be available to policyholders in your area.

Auto insurance can be complex

When buying the right insurance coverage, there really is not a perfect coverage plan. Each situation is unique.

Here are some questions about coverages that can help discover whether or not you might need an agent’s assistance.

  • Does my policy pay for OEM or aftermarket parts?
  • Should I carry comprehensive and collision coverage?
  • Does my medical payments coverage pay my health insurance deductible?
  • What companies insure drivers after a DUI or DWI?
  • Can I rent a car in Mexico?
  • Does my liability insurance cover pulling a trailer or camper?
  • Does my personal policy cover me when driving out-of-state?

If it’s difficult to answer those questions then you might want to talk to a licensed agent. To find lower rates from a local agent, complete this form.

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

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Car insurance coverages for a 2002 BMW 5 Series

Having a good grasp of your auto insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy.

Medical payments and PIP coverage

Med pay and PIP coverage pay for short-term medical expenses such as funeral costs, hospital visits, dental work and ambulance fees. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not universally available but can be used in place of medical payments coverage

Liability auto insurance

This provides protection from injuries or damage you cause to people or other property that is your fault. This insurance protects YOU from legal claims by others. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers things such as court costs, bail bonds, emergency aid, attorney fees and medical expenses. How much liability should you purchase? That is your choice, but buy as high a limit as you can afford.

Comprehensive auto coverage

This will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a deer, vandalism, damage from flooding and rock chips in glass. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Collision coverage protection

This coverage will pay to fix damage to your 5 Series resulting from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like colliding with a tree, scraping a guard rail and damaging your car on a curb. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries and damage to your BMW 5 Series.

Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

In any little way, save everyday

You just read many ideas to save on 2002 BMW 5 Series insurance. The key thing to remember is the more providers you compare, the higher the chance of saving money. You may be surprised to find that the biggest savings come from a lesser-known regional company.

There are still a few companies who may not provide online rate quotes small insurance companies provide coverage only through independent agencies. Cheaper insurance can be purchased both online and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates.

People leave their current company for a number of reasons such as denial of a claim, extreme rates for teen drivers, delays in responding to claim requests and poor customer service. No matter why you want to switch, finding the right insurance provider can be less work than you think.

Much more information about insurance is located on the following sites: