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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Trying to find cheaper auto insurance rates for your BMW 5 Series? No one enjoys paying for auto insurance, especially when they know they could find better rates elsewhere.

Companies like State Farm and GEICO continually bombard you with fancy advertisements and consumers find it hard to separate fact from fiction and effectively compare rates to find the best deal.

You should take the time to shop coverage around before your next renewal because auto insurance prices are usually higher with each renewal. If you had the lowest rate on 5 Series coverage a few years ago other companies may now be cheaper. Block out anything you think you know about auto insurance because you’re about to learn the right way to save money, get proper coverage and the best rates.

If you currently have a car insurance policy, you will most likely be able to cut costs considerably using these tips. Choosing the best insurance company for you is quite easy. Nevertheless, drivers must comprehend the way companies determine prices and take advantage of how the system works.

Car insurance quotes comparison

When shopping for affordable auto insurance quotes, there are a couple of ways to obtain and compare prices from lots of car insurance companies. The best method to find competitive 2011 BMW 5 Series insurance rates is to perform an online rate comparison. This can be accomplished in a couple minutes as outlined below.

  1. The simplest way to find low rates would be an industry-wide quote request form click to view form in new window. This easy form prevents you from having to do separate quotes for every car insurance company. One form gets prices estimates from all major companies.
  2. A different way to compare prices consists of visiting the website for every company you want to comare and go through the quote process again. For sake of this example, let’s assume you want comparison quotes from GEICO, Esurance and American Family. To get each rate you have to go to each individual site and punch in your information repeatedly, which is why the first method is quicker.

    To view a list of companies in your area, click here.

Whichever way you use, try to keep the same coverage limits and deductibles for each quote you get. If you are comparing differing limits it’s impossible to determine the lowest rate for your BMW 5 Series. Quoting even small variations in insurance coverages can result in a big premium difference. And when comparing car insurance rates, know that obtaining a wide range of quotes will enable you to find a better price.

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

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You may qualify for discounts

Car insurance companies do not advertise the entire discount list in an easy-to-find place, so the following list contains a few of the more common and also the more inconspicuous credits available to bring down your rates.

  • Low Mileage – Fewer annual miles on your BMW could earn lower premium rates due to less chance of an accident.
  • Passenger Safety Discount – Cars that have air bags or automatic seat belts may earn rate discounts as much as 30%.
  • Early Signing – A few car insurance companies allow discounts for switching policies prior to your current policy expiring. This discount can save up to 10%.
  • Discount for Home Ownership – Just being a homeowner can get you a discount since owning and maintaining a home is proof of financial responsibility.
  • Seat Belts Save – Using a seat belt and requiring all passengers to buckle up can save up to 15% on medical payment and PIP coverage.
  • Good Grades Discount – Being a good student may save you up to 25%. Most companies allow this discount well after school through age 25.
  • Senior Citizen Discount – If you’re over the age of 55, you may qualify for a slight reduction on a auto insurance quote on 5 Series coverage.
  • Employee of Federal Government – Federal government employees could qualify for a slight premium decrease on 5 Series coverage but check with your company.

Drivers should understand that most discount credits are not given to the overall cost of the policy. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, nobody gets a free ride.

Some of the insurance companies that possibly offer most of these discounts possibly include:

Before buying, ask all companies you are considering what discounts are available to you. Discounts may not apply to policies in your state. For a list of car insurance companies who offer free car insurance quotes, click here.

There’s no such thing as the perfect insurance coverage policy

When it comes to choosing proper insurance coverage, there isn’t really a one size fits all plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. Here are some questions about coverages that can aid in determining if you might need an agent’s assistance.

  • Should I buy full coverage?
  • What discounts do I qualify for?
  • Is extra glass coverage worth it?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Can I afford to buy a different vehicle if my 2011 BMW 5 Series is totaled?
  • What exactly is covered by my policy?
  • Which companies will insure high-risk drivers?
  • Should I get collision insurance on every vehicle?

If you can’t answer these questions, you might consider talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance coverage companies in your area.

Coverages available on your policy

Having a good grasp of a insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are the normal coverages found on most insurance policies.

Comprehensive coverages

This coverage pays for damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as vandalism, falling objects, hail damage, a tree branch falling on your vehicle and a broken windshield. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Auto liability

Liability coverage protects you from damage that occurs to a person or their property by causing an accident. This coverage protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for things like bail bonds, funeral expenses and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but buy as much as you can afford.

Auto collision coverage

Collision coverage covers damage to your 5 Series resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like crashing into a building, sideswiping another vehicle, sustaining damage from a pot hole and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. It’s also possible to raise the deductible to save money on collision insurance.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for nursing services, ambulance fees and surgery. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Uninsured and underinsured coverage

This coverage gives you protection when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as damage to your BMW 5 Series.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.