2006 BMW 5 Series Insurance Cost – 7 Tips for Best Prices

Are you kicking yourself for buying an overpriced insurance coverage policy? Trust us, many consumers feel financially strained by their insurance coverage policy. Because there are so many options when it comes to insurance coverage, it’s difficult to find a lower cost insurance coverage company.

Consumers should take time to shop coverage around quite often because prices are variable and change quite frequently. Despite the fact that you may have had the lowest price on 5 Series insurance a few years ago the chances are good that you can find a lower rate quote today. There are lots of tips to save on insurance coverage out there, but in just a couple of minutes you can learn some great ways to reduce your insurance coverage bill.

Choosing the best insurance company for you is not rocket science. If you have a current auto insurance policy or need a new policy, you can use these tips to find better prices and still get good coverage. Consumers only need to know the tricks to get comparison quotes online.

Insurance coverage discounts help cut rates

Car insurance companies don’t necessarily list every possible discount very well, so the list below gives a summary of some of the more common in addition to some of the lesser obvious savings tricks you should be using when you buy auto insurance online.

  • Discounts for Federal Employees – Being employed by or retired from a federal job could qualify for a slight premium decrease on 5 Series insurance depending on your company.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags or automatic seat belts can receive discounts of more than 20%.
  • Bundle and Save – If you can combine your auto and homeowners policy and insure them both with the same insurance company you could save nearly 15% which can help you find low cost auto insurance.
  • Auto/Life Discount – Insurance carriers who offer life insurance give a lower price if you buy a life insurance policy as well.
  • Drivers Education – Require your teen driver to enroll in driver’s education in high school.
  • Paper-free Discount – Some insurance companies will give a small break just for signing your application digitally online.
  • Low Mileage Discounts – Low annual miles may allow you to get slightly better insurance coveragerates than normal.

Just know that most of the big mark downs will not be given to the entire policy premium. Some only apply to specific coverage prices like liability and collision coverage. So despite the fact that it appears you could get a free insurance coverage policy, company stockholders wouldn’t be very happy.

Large insurance coverage companies and some of the premium reductions they offer can be found below.

  • GEICO includes discounts for federal employee, defensive driver, five-year accident-free, military active duty, good student, emergency military deployment, and air bags.
  • SAFECO policyholders can earn discounts including anti-lock brakes, anti-theft, teen safety rewards, multi-car, drive less, and teen safe driver.
  • State Farm may offer discounts for multiple policy, safe vehicle, accident-free, good driver, multiple autos, driver’s education, and student away at school.
  • MetLife offers discounts for claim-free, multi-policy, defensive driver, good driver, and good student.
  • 21st Century may include discounts for teen driver, good student, homeowners, theft prevention, defensive driver, and student driver.
  • Progressive has savings for multi-vehicle, online quote discount, online signing, homeowner, and continuous coverage.

If you need lower rates, check with all the companies the best way to save money. Some discounts may not apply to policyholders in your area. To choose insurers that have a full spectrum of discounts, click here to view.

Where can I get cheap insurance coverage?

Getting cheaper 2006 BMW 5 Series insurance coverage pricing is a fairly straight forward process. Just take the time comparing price quotes to find. It is quite easy and can be accomplished using a couple different methods.

  1. The simplest way to find the lowest comparison rates would be an industry-wide quote request form (click to open form in new window). This type of form prevents you from having to do repetitive form submissions for every prospective company. One quote request will get you price quotes direct from many companies.
  2. Another way to compare prices requires a visit to the website for each individual company to complete their respective quote request forms. For instance, we’ll pretend you want rates from Farmers, State Farm and Allstate. To get rate quotes you would need to go to every website and punch in your information repeatedly, and that’s why the first method is more popular.

    For a list of links to companies insuring cars in your area, click here.

It’s your choice how you get your quotes, but make sure you compare exactly the same coverage information on every quote you get. If each company quotes different deductibles it will be next to impossible to decipher which rate is best.

Which is the best insurance?

When it comes to buying the best insurance coverage for your personal vehicles, there is no one size fits all plan. Every situation is different and your policy should reflect that. For example, these questions can aid in determining if your situation might need professional guidance.

  • Do I have newly-aquired coverage?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Does my insurance cover a custom paint job?
  • What is UM/UIM insurance?
  • Should I get collision insurance on every vehicle?
  • Who is covered when they drive my 2006 BMW 5 Series?
  • Am I insured when driving a different vehicle?
  • Which is better, split liability limits or combined limits?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and you can get the answers you need.

Car insurance coverage options for a 2006 BMW 5 Series

Learning about specific coverages of a car insurance policy can help you determine the best coverages and proper limits and deductibles. Policy terminology can be ambiguous and coverage can change by endorsement. Shown next are the usual coverages found on the average car insurance policy.

Collision coverage protection

Collision insurance pays to fix your vehicle from damage caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like hitting a mailbox, damaging your car on a curb and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive protection

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as fire damage, damage from getting keyed, hitting a deer and hail damage. The highest amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Uninsured or underinsured 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 hospital bills for your injuries as well as 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. This is the reason having UM/UIM coverage should not be overlooked.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like hospital visits, pain medications and funeral costs. They are often utilized in addition to your health insurance program or if you are not covered by health insurance. Coverage applies to you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Liability auto insurance

Liability coverage will cover damages or injuries you inflict on people or other property in an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see 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 total limit of $50,000 for damage to vehicles and property.

Liability insurance covers things like funeral expenses, legal defense fees, structural damage and bail bonds. How much liability coverage do you need? That is your choice, but buy as large an amount as possible.

Smart shoppers get results

When buying insurance coverage, don’t be tempted to buy poor coverage just to save money. There have been many cases where an accident victim reduced liability coverage limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The aim is to get the best coverage possible at the best cost.

We just covered many ideas to shop for 2006 BMW 5 Series insurance online. It’s most important to understand that the more quotes you get, the higher the chance of saving money. You may be surprised to find that the best price on auto insurance is with a small mutual company. These companies may have significantly lower premium rates on certain market segments as compared to the big name companies such as Progressive and GEICO.

Additional auto insurance information can be found on the following sites: