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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I can’t think of anyone who loves paying for auto insurance, especially knowing the cost is too high.

Big companies like State Farm, Farmers Insurance, GEICO and Allstate constantly blast consumers with catchy ads and consumers find it hard to avoid their marketing magic and effectively compare rates to find the best deal.

Consumers should take time to check auto insurance prices before your next renewal because auto insurance prices are variable and change quite frequently. Even if you got the lowest quotes for 5 Series insurance a few years ago other companies may now be cheaper. You can find a lot of wrong information about auto insurance on the internet, but in a few minutes you can learn some tested techniques to lower your auto insurance bill.

More affordable rates by taking advantage of discounts

Insuring your fleet can be pricey, but you might already qualify for some discounts that could help you make your next renewal payment. A few discounts will be applied at the time of quoting, but some need to be asked for before you will receive the discount.

  • Paperless Signup – Certain auto insurance companies will give you a small discount for buying your policy over the internet.
  • New Car Discount – Buying a new car model can be considerably cheaper due to better safety requirements for newer vehicles.
  • Drivers Education – It’s a good idea to have your young drivers take driver’s ed class in high school.
  • Switch and Save Discount – A few larger companies give discounts for switching to them before your current coverage expires. This can save 10% or more.
  • ABS Brakes – Cars and trucks with anti-lock braking systems can avoid accidents and will save you 10% or more.

A little note about advertised discounts, most discount credits are not given the the whole policy. Some only apply to the price of certain insurance coverages like liability and collision coverage. Even though it may seem like you can get free auto insurance, companies don’t profit that way.

A few of the larger companies and some of the premium reductions they offer are included below.

  • GEICO offers premium reductions for driver training, membership and employees, air bags, good student, defensive driver, and anti-theft.
  • MetLife may have discounts that include good driver, good student, multi-policy, accident-free, defensive driver, and claim-free.
  • Progressive may offer discounts for homeowner, continuous coverage, good student, multi-vehicle, multi-policy, online quote discount, and online signing.
  • Travelers has savings for hybrid/electric vehicle, student away at school, driver training, continuous insurance, and multi-car.
  • SAFECO has discounts for anti-lock brakes, teen safety rewards, accident prevention training, homeowner, drive less, and safe driver.
  • AAA policyholders can earn discounts including anti-theft, multi-policy, pay-in-full, education and occupation, and good student.

If you need cheaper insurance coverage quotes, ask all companies you are considering which discounts they offer. A few discounts may not be available in your area. To see auto insurance companies with the best discounts, click here.

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

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How much car insurance do I need?

When choosing adequate coverage for your vehicles, there really is no “best” method to buy coverage. Every insured’s situation is different so your insurance should reflect that These are some specific questions might help in determining if your situation might need professional guidance.

  • Am I covered when delivering products for my home-based business?
  • Am I covered when driving in Canada or Mexico?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Should I buy more coverage than the required minimum liability coverage?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Is upholstery damage covered by car insurance?
  • How much liability insurance is required?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area.

Save $383 a year? Really?

Respected companies like Allstate and Progressive constantly bombard you with ads on television and other media. They all seem to say the same thing that you’ll save big if you change your insurance coverage to their company. That’s great but how can every company give you a lower rate?

Insurance companies quote the lowest rates for the type of customer that makes them money. For instance, a profitable risk profile might be described as between 25 and 40, has never had a policy lapse, and drives a safe vehicle. Any driver who meets those qualifications will qualify for the lowest prices and will most likely save quite a bit of money when switching.

Insureds who do not match this stringent profile must pay more expensive rates with the end result being the driver buying from a lower-cost company. The ads state “customers that switch” not “everyone who quotes” save that much money. That is how insurance companies can advertise the way they do. Because each company has a different risk profile, drivers should get insurance coverage quotes as often as possible. It is impossible to guess which insurance companies will fit you best based on your risk profile.

Car insurance policy specifics

Learning about specific coverages of car insurance aids in choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages available from car insurance companies.

Collision coverages – Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as hitting a mailbox, hitting a parking meter, sustaining damage from a pot hole, colliding with another moving vehicle and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

UM/UIM Coverage – Your UM/UIM coverage provides protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your 2012 BMW 5 Series.

Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Comprehensive or Other Than Collision – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as rock chips in glass, hail damage, theft, falling objects and a broken windshield. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Medical costs insurance – Med pay and PIP coverage provide coverage for bills such as nursing services, dental work and doctor visits. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Liability – This protects you from damage or injury you incur to other’s property or people. This coverage protects you from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 which means 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.

Liability coverage pays for claims like funeral expenses, legal defense fees, repair costs for stationary objects, structural damage and bail bonds. How much coverage you buy is your choice, but you should buy as much as you can afford.

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

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Save your hard earned cash

Affordable 2012 BMW 5 Series insurance can be found both online as well as from insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance companies may not have price quotes online and these regional insurance providers prefer to sell through independent insurance agencies.

Throughout this article, we presented many ideas to compare 2012 BMW 5 Series insurance premium rates online. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding cheap insurance coverage. Consumers could even find that the biggest savings come from some of the smallest insurance companies. Some small companies can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.

Additional insurance information can be found at the links below