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: Sep 3, 2018

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Searching for better insurance coverage rates for your BMW 5 Series? Locating better insurance prices for a BMW 5 Series could be a lot of work, but you can use these tips to make it easier. There is a better way to shop for insurance coverage so you’re going to learn the proper way to get price quotes for a BMW and get the cheapest rates from local insurance agents and online providers.

If you have insurance now or need a new policy, you can learn to find better prices while maintaining coverages. Finding the best coverage is easy if you know what you’re doing. Drivers only need to know the tricks to get comparison rates online.

Choices you make can impact your insurance rates

Many different elements are part of the calculation when pricing auto insurance. Some factors are common sense such as your driving record, but others are not as apparent like your vehicle usage or your commute time.One of the most helpful ways to save on auto insurance is to to have a grasp of a few of the rating criteria that are used to determine your policy premiums. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can earn you lower auto insurance prices.

  • Don’t cut corners with liability protection – Your auto insurance policy’s liability coverage is the coverage that protects you if you are found to be at fault for an accident. It will provide you with a defense in court to defend your case. This coverage is very inexpensive compared to other policy coverages, so do not skimp.
  • Youthful drivers cost more – Young drivers have been known to be inattentive behind the wheel so auto insurance rates are higher. Mature drivers are viewed as being more responsible, statistically cause fewer accidents and get fewer tickets.
  • Compare rates if you bundle your policies – Many companies afford lower prices to clients that buy multiple policies such as combining an auto and homeowners policy. Even if you qualify for this discount already, drivers will still want to comparison shop to ensure the best deal. You may still be able to save even more than the discount even if you insure with multiple companies
  • lapses raise rates – Having an insurance coverage lapse can be a sure-fire way to bump up your auto insurance costs. And not only will your rates increase, the inability to provide proof of insurance may result in a steep fine or even jail time.
  • Where you reside is a factor – Choosing to live in smaller towns and rural areas of the country has definite advantages when shopping for auto insurance. Fewer people means less chance of accidents and also fewer theft and vandalism claims. Drivers in populated areas tend to have more aggressive driving styles and longer commutes to work. Higher commute times translates into higher accident risk.
  • How credit history affects auto insurance prices – Having a bad credit score will be a significant factor in determining premium rates. Insureds that have excellent credit scores tend to file fewer claims than drivers who have poor credit. If your credit rating could use some work, you could pay less to insure your 2009 BMW 5 Series if you improve your credit rating.

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Get cheap insurance quotes with discounts

Not many people think insurance is cheap, but you may be missing some discounts to cut the cost considerably. Many of these discounts will be applied automatically at the time of quoting, but less common discounts must be asked for in order for you to get them.

  • Seat Belt Discounts – Drivers who require all vehicle occupants to buckle their seat belts could cut 10% or more on medical payment and PIP coverage.
  • Buy New and Save – Buying a new car model can cost up to 25% less since newer models have better safety ratings.
  • Mature Driver Discount – Mature drivers can get a discount up to 10% on 5 Series insurance.
  • Good Grades Discount – Maintaining excellent grades can earn a discount of 20% or more. The good student discount can last until age 25.
  • Air Bags and Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may get savings of 25 to 30%.
  • Discounts for Cautious Drivers – Drivers without accidents may save up to 50% more on 5 Series insurance than drivers with accident claims.
  • Anti-theft Discount – Anti-theft and alarm system equipped vehicles prevent vehicle theft and that can save you a little bit as well.

Drivers should understand that most discounts do not apply to your bottom line cost. Most only cut individual premiums such as liability, collision or medical payments. So when the math indicates you would end up receiving a 100% discount, you’re out of luck. But all discounts will help reduce your policy premium.

A few of the larger companies and their offered discounts are outlined below.

  • Mercury Insurance may offer discounts for multi-car, anti-theft, ease of repair, type of vehicle, location of vehicle, and annual mileage.
  • Farmers Insurance policyholders can earn discounts including mature driver, bundle discounts, alternative fuel, multi-car, teen driver, and good student.
  • Farm Bureau discounts include driver training, good student, 55 and retired, multi-vehicle, and renewal discount.
  • State Farm may have discounts that include accident-free, good student, student away at school, good driver, and defensive driving training.
  • Allstate offers premium reductions for good payer, 55 and retired, passive restraint, economy car, resident student, and multi-policy.
  • GEICO has discounts for multi-policy, defensive driver, air bags, emergency military deployment, anti-theft, military active duty, and membership and employees.

Before you buy a policy, ask every prospective company how you can save money. Some of the earlier mentioned discounts may not apply to policies in every state. To find insurance companies that offer multiple discounts, follow this link.

Tailor your insurance coverage coverage to you

When it comes to choosing the best insurance coverage coverage for your personal vehicles, there really is not a best way to insure your cars. Everyone’s needs are different.

For example, these questions may help highlight whether your personal situation might need professional guidance.

  • What is UM/UIM insurance?
  • How can I force my company to pay a claim?
  • Am I insured when driving a different vehicle?
  • Will my insurance pay for OEM parts?
  • Does medical payments coverage apply to all occupants?
  • Is my BMW 5 Series covered if I use it for business?
  • What is roadside assistance coverage?

If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form. It is quick, free and may give you better protection.

Insurance coverages 101

Knowing the specifics of your policy helps when choosing the right coverages at the best deductibles and correct limits. Insurance terms can be difficult to understand and nobody wants to actually read their policy.

Liability insurance

Liability insurance protects you from injuries or damage you cause to other people or property by causing an accident. This insurance protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 50/100/50 that means you have a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things such as medical services, repair bills for other people’s vehicles, pain and suffering and court costs. How much coverage you buy is a personal decision, but buy higher limits if possible.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries and damage to your 2009 BMW 5 Series.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays for damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things such as damage from a tornado or hurricane, fire damage, damage from flooding, vandalism and theft. The most your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical costs insurance

Med pay and PIP coverage pay for immediate expenses such as surgery, rehabilitation expenses and chiropractic care. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Collision protection

Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like backing into a parked car, colliding with another moving vehicle and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. You can also choose a higher deductible to get cheaper collision coverage.

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More choices the merrier

As you shop your coverage around, you should never skimp on coverage in order to save money. Too many times, someone dropped full coverage only to regret that they should have had better coverage. Your goal is to get the best coverage possible for the lowest price, not the least amount of coverage.

You just read some good ideas how to get a better price on 2009 BMW 5 Series insurance. The most important thing to understand is the more providers you compare, the better your chances of lowering your rates. You may even discover the most savings is with a small local company.

A few companies may not offer rate quotes online and most of the time these small, regional companies provide coverage only through local independent agents. Cheap 2009 BMW 5 Series insurance can be sourced both online as well as from insurance agents, and you should compare price quotes from both in order to have the best chance of saving money.

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