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

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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.

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Using the web to shop for insurance coverage quotes online can be a challenge since most people haven’t used online insurance coverage quotes. But don’t be confused because it’s actually quite easy.

Drivers save money with with these ten discounts

Companies offering auto insurance don’t necessarily list all their discounts very well, so we took the time to find some of the more common and the harder-to-find credits that may apply to you.

  • Discounts for Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle their seat belts could save 15% on medical payment and PIP coverage.
  • E-sign – A few insurance companies give back up to $50 shop insurance coverage digitally online.
  • Senior Citizen Rates – Mature drivers may receive better insurance rates for 5 Series coverage.
  • Save with More Vehicles Insured – Having more than one vehicle with the same company can reduce the rates for all insured vehicles.
  • Military Deployment Discount – Having a deployed family member could mean lower prices.
  • Good Student – Performing well in school can get you a discount of up to 25%. The discount lasts up until you turn 25.
  • Safe Driver Discounts – Drivers who avoid accidents can save as much as half off their rates for 5 Series coverage compared to rates paid by drivers with frequent claims.
  • Air Bags and Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can qualify for discounts as much as 30%.
  • Anti-theft System – Anti-theft and alarm system equipped vehicles prevent vehicle theft so companies will give you a small discount.
  • Distant College Student Discount – Kids who are enrolled in higher education away from home without a vehicle on campus can be insured at a reduced rate.

A little disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Most cut the cost of specific coverages such as liability, collision or medical payments. Just because you may think adding up those discounts means a free policy, companies don’t profit that way.

Larger insurance companies and their offered discounts include:

  • State Farm may offer discounts for safe vehicle, good driver, student away at school, good student, Steer Clear safe driver discount, and multiple autos.
  • GEICO may include discounts for air bags, seat belt use, federal employee, defensive driver, emergency military deployment, anti-theft, and multi-vehicle.
  • SAFECO offers discounts including accident prevention training, drive less, multi-car, safe driver, and teen safe driver.
  • Farmers Insurance discounts include business and professional, multi-car, distant student, teen driver, bundle discounts, and mature driver.
  • AAA has discounts for good student, good driver, multi-policy, AAA membership discount, anti-theft, and education and occupation.
  • USAA policyholders can earn discounts including good student, multi-vehicle, multi-policy, safe driver, driver training, and loyalty savings.

If you want inexpensive insurance coverage quotes, ask all companies you are considering which credits you are entitled to. Some of the discounts discussed earlier might not be offered in your state.

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

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Your situation helps dictate your coverage

When it comes to choosing the right insurance coverage, there isn’t really a best way to insure your cars. Your needs are not the same as everyone else’s.

For instance, these questions can aid in determining whether or not you might need professional guidance.

  • What is high-risk coverage and where do I buy it?
  • How much liability insurance is required?
  • Is my babysitter covered when using my vehicle?
  • Do I need medical payments coverage since I have good health insurance?
  • Is my 2008 BMW 5 Series covered for flood damage?
  • Do I need rental car coverage?
  • Am I insured when driving a different vehicle?
  • Is my trailer covered?
  • Am I missing any policy discounts?

If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form.

Insurance specifics

Having a good grasp of insurance aids in choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring.

Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your BMW 5 Series.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea. Frequently these limits do not exceed the liability coverage limits.

Collision coverage – Collision coverage covers damage to your 5 Series resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as damaging your car on a curb, colliding with a tree, hitting a parking meter, crashing into a building and driving through your garage door. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

Insurance for medical payments – Med pay and PIP coverage reimburse you for immediate expenses such as chiropractic care, nursing services and rehabilitation expenses. They can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Auto liability – This coverage can cover damage that occurs to a person or their property. 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 might see values of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things like pain and suffering, repair bills for other people’s vehicles and attorney fees. How much coverage you buy is a personal decision, but you should buy as large an amount as possible.

Comprehensive coverage (or Other than Collision) – This coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like hail damage, vandalism and rock chips in glass. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Knowledge is power

Insureds who switch companies do it for a number of reasons such as not issuing a premium refund, being labeled a high risk driver, delays in paying claims and even high rates after DUI convictions. It doesn’t matter why you want to switch choosing a new company can be less work than you think.

Cheaper 2008 BMW 5 Series insurance is available from both online companies as well as from independent agents, and you should compare rates from both so you have a total pricing picture. Some insurance companies may not offer online quoting and usually these regional carriers prefer to sell through local independent agencies.

Throughout this article, we presented a lot of techniques to compare 2008 BMW 5 Series insurance car insurance rates online. The key concept to understand is the more companies you get premium rates for, the higher the chance of saving money. Consumers could even find that the lowest car insurance rates come from a small local company.

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