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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Are you drained from scraping nickels together to pay high insurance rates every month? You’re in the same situation as the majority of other vehicle owners.

Insurance companies such as Progressive, State Farm and GEICO persitently shower you with catchy ads and it is challenging if not impossible to not get sucked in by the cute commercials and find the best price available.

Get lower-cost car insurance with discounts

Car insurance is not an enjoyable expense, but you may find discounts that can drop the cost substantially. Many discounts should be triggered at the time of quoting, but a few must be requested specifically prior to getting the savings.

  • Discount for Multiple Policies – If you can bundle your homeowners and auto insurance and insure them both with the same insurance company they may give you a discount of up to 20% off your total premium.
  • Auto/Life Discount – Car insurance companies who offer life insurance give a lower premium rate if you buy life insurance from them.
  • No Claims – Drivers who don’t have accidents get the best car insurance rates as compared to bad drivers.
  • Onboard Data Collection – Drivers who agree to allow driving data collection to monitor where and when they drive by installing a telematics device like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if they exhibit good driving behavior.
  • Cautious Driver Discounts – Drivers without accidents could pay up to 40% less for X5 M insurance as compared to drivers with claims.
  • Multi-Vehicle Discounts – Buying a policy with all your vehicles with the same car insurance company could earn a price break for each car.
  • Anti-lock Brake System – Cars, trucks, and SUVs with ABS and/or traction control prevent accidents and qualify for as much as a 10% discount.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle up before driving can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
  • Early Switch Discount – A few companies offer discounts for signing up before your current policy expires. The savings is around 10%.

As a sidenote, most of the big mark downs will not be given to the entire policy premium. Some only apply to individual premiums such as comprehensive or collision. Just because it seems like you could get a free car insurance policy, you won’t be that lucky.

If you would like to view companies who offer cheap car insurance quotes, click here.

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

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How to compare free auto insurance quotes

There are multiple methods you can shop for auto insurance and some are less time-consuming than others. You can waste a few hours (or days) driving to agents in your area, or you could use the web to achieve your goal.

Many companies enroll in a system where prospective buyers only type in their quote data once, and at least one company can provide price quotes based on that information. This eliminates the need for form submissions for every auto insurance company.

To submit your quote information now, click here (opens in new window).

The only drawback to doing it this way is you cannot specify which insurance companies you want to price. If you prefer to choose specific insurance companies to compare, we have assembled a list of low cost auto insurance companies in your area. Click here for list of insurance companies.

Whichever method you choose, make absolute certain that you use nearly identical coverages with each company. If you have unequal deductibles or liability limits it’s not possible to find the best deal for your BMW X5 M. Quoting even small variations in limits may result in a large different in cost. And when comparison shopping, quoting more will enable you to find the best offered rates.

Tailor your insurance coverage to you

When it comes to choosing coverage for your personal vehicles, there is no single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. For example, these questions might point out if you would benefit from an agent’s advice.

  • Do all my vehicles need collision coverage?
  • Can I afford low physical damage deductibles?
  • Does my 2011 BMW X5 M need full coverage?
  • When does my teenage driver need to be added to my policy?
  • Is there coverage for injuries to my pets?
  • Can I rent a car in Mexico?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Auto insurance coverages

Understanding the coverages of your policy helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are the usual coverages found on most insurance policies.

Auto liability

This provides protection from injuries or damage you cause to other’s property or people that is your fault. It protects you from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that translate to a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability can pay for claims such as attorney fees, court costs, medical expenses and bail bonds. How much coverage you buy is your choice, but consider buying higher limits if possible.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants and damage to your BMW X5 M.

Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses like hospital visits, prosthetic devices, pain medications and surgery. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible

Auto collision coverage

Collision coverage pays to fix your vehicle from damage from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as crashing into a ditch, sustaining damage from a pot hole, driving through your garage door, damaging your car on a curb and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Comprehensive protection

This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like falling objects, damage from flooding and theft. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

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

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Better coverage you can count on

Throughout this article, we presented a lot of tips how to shop for 2011 BMW X5 M insurance online. It’s most important to understand that the more price quotes you have, the better your comparison will be. You may be surprised to find that the lowest car insurance rates are with some of the smallest insurance companies. These companies may have significantly lower premium rates on certain market segments as compared to the big name companies such as GEICO and State Farm.

When shopping online for insurance, do not reduce needed coverages to save money. In many cases, someone dropped comprehensive coverage or liability limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your objective should be to buy a smart amount of coverage at the best cost while still protecting your assets.

Lower-priced insurance is possible online in addition to local insurance agencies, and you should compare rates from both to have the best selection. Some insurance companies may not provide online quoting and many times these small, regional companies only sell through independent agents.

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