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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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: Nov 11, 2017

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Want the cheapest insurance rates for your BMW X5? Comparing and finding cheaper rates for insurance can be challenging for drivers who are new to comparison shopping online. With such a large choice of insurers to choose from, it can easily be more work than you anticipated to find more affordable insurance rates.

Discounts for cheap insurance coverage rates

Companies offering auto insurance do not advertise all possible discounts very well, so below is a list both the well known and the more hidden credits that may apply to you.

  • Drive Safe and Save – Safe drivers may save up to 50% more on X5 insurance than less cautious drivers.
  • Early Renewal Discounts – Some insurance companies give discounts for signing up before your current expiration date. You could save around 10% when you buy car insurance online.
  • Federal Employees – Employees or retirees of the government could qualify for a slight premium decrease on X5 insurance with some insurance coverage companies.
  • College Student Discount – Youth drivers who live away from home to go to college and do not take a car to college can receive lower rates.
  • Defensive Driver Discounts – Completing a course that instructs on driving safety may get you a small discount and also improve your driving technique.
  • No Charge for an Accident – Not necessarily a discount, but some companies like Progressive, State Farm and GEICO allow you one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.

A quick disclaimer, most discount credits are not given to the entire policy premium. Most cut the price of certain insurance coverages like comprehensive or collision. So when it seems like you can get free auto insurance, companies don’t profit that way.

Car insurance companies that may offer most of these discounts include:

When getting free car insurance quotes, it’s a good idea to each company or agent to give you their best rates. Some discounts listed above may not be offered in every state. To find insurers with the best insurance coverage discounts, follow this link.

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

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You may need specialized insurance coverage

When choosing adequate coverage for your vehicles, there really is no “best” method to buy coverage. Every insured’s situation is different.

These are some specific questions could help you determine if your insurance needs might need professional guidance.

  • Is my state a no-fault state?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I have coverage when using my vehicle for my home business?
  • Will I lose any money if I cancel my policy before it expires?
  • Am I covered if I crash into my own garage door?
  • Is my 2008 BMW X5 covered for smoke damage?
  • How does medical payments coverage work?
  • Does my car insurance cover rental cars?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form.

Ads can be misleading

Respected companies like Allstate, GEICO and Progressive endlessly run television, radio, and online ads. They all have a common claim about how much you will save if you switch to their company. How does each company offer drivers better rates? Here is the trick they use.

All companies have underwriting criteria for the driver that makes them money. For instance, a driver they prefer could possibly be between 30 and 50, has never had a claim, and drives a car with an anti-theft system. A customer who fits that profile gets the lowest rates and as a result will probably cut their rates substantially.

Drivers who fall outside the ideal profile may be required to pay a higher premium which results in the customer not buying. The trick is to say “drivers who switch” not “everybody who quotes” save that much money. That is how insurance companies can confidently make claims like that.

Different companies use different criteria so drivers must get as many free car insurance quotes as possible. It’s just not possible to know the company that will have the lowest rates.

Detailed coverages of your car insurance policy

Understanding the coverages of a car insurance policy helps when choosing the right coverages and the correct deductibles and limits. Car insurance terms can be confusing and reading a policy is terribly boring.

Liability car insurance – This coverage protects you from damage or injury you incur to other people or property by causing an accident. This insurance protects YOU from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 which stand for a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Occasionally you may see a combined single limit or CSL that pays claims from the same limit without having the split limit caps.

Liability can pay for things like repair bills for other people’s vehicles, bail bonds and court costs. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.

Protection from uninsured/underinsured drivers – This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as damage to your BMW X5.

Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as surgery, X-ray expenses and prosthetic devices. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Collision – This coverage will pay to fix damage to your X5 from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as scraping a guard rail, damaging your car on a curb, colliding with another moving vehicle, crashing into a ditch and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to bump up the deductible to bring the cost down.

Comprehensive (Other than Collision) – This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like falling objects, hitting a deer, theft, damage from getting keyed and rock chips in glass. The maximum payout your car insurance company will pay 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.

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

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More choices the merrier

As you prepare to switch companies, it’s a bad idea to skimp on critical coverages to save a buck or two. In many instances, drivers have reduced physical damage coverage only to find out that a couple dollars of savings turned into a financial nightmare. Your objective should be to buy a smart amount of coverage at an affordable rate, but do not skimp to save money.

People leave their current company for many reasons like denial of a claim, poor customer service, high rates after DUI convictions and not issuing a premium refund. Regardless of your reason, switching auto insurance companies is less work than it seems.

We’ve covered some good ideas how you can shop for 2008 BMW X5 insurance online. It’s most important to understand that the more companies you get premium rates for, the more likely it is that you will get a better rate. You may even find the best price on auto insurance is with a smaller regional carrier.

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