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: Oct 21, 2017

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Searching for lower auto insurance rates for your BMW X5? Feeling guilty for buying overpriced auto insurance? You’re in good company because there are many consumers feeling the pinch from expensive auto insurance. Insurance companies such as GEICO, Progressive and Allstate persitently shower you with fancy advertisements and it is difficult to ignore the promise of big savings and effectively compare rates to find the best deal.

You need to shop coverage around yearly due to the fact that insurance prices fluctuate regularly. Even if you think you had the best rates on X5 insurance at your last renewal the chances are good that you can find a lower rate quote today. You’ll find a ton of advice on auto insurance out there, but I’m going to show you a lot of great tips on how to lower your auto insurance rates.

How much does car insurance cost?

Performing a rate comparison can be a lot of work if you don’t know the best way to get rate quotes. You could spend your day talking about coverages with insurance companies in your area, or you could use online quoting to get rates in a matter of minutes.

Many of the larger companies belong to a marketplace where insurance shoppers only type in their quote data once, and at least one company returns a rated price. This saves time by eliminating quotation requests for each company.

To access this free quoting program, click here to start a free quote.

The one downside to using this type of form is that you can’t choose which providers to receive prices from. So if you want to choose individual companies to receive pricing from, we have assembled a list of the cheapest car insurance companies in your area. Click to view list.

It’s up to you which method you use, but do your best to use the exact same coverage limits and deductibles for every company. If you enter higher or lower deductibles it will be next to impossible to decipher which rate is best.

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

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Discounts to earn cheaper insurance rates

Some insurance providers do not list their entire list of discounts in a way that’s easy to find, so below is a list a few of the more common as well as some of the hidden credits available to bring down your rates.

  • Payment Method – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
  • One Accident Forgiven – This one is not really a discount per se, but companies like Allstate and State Farm may permit one accident before hitting you with a surcharge so long as you haven’t had any claims for a certain period of time.
  • 55 and Retired – Drivers that qualify as senior citizens could receive better insurance rates on X5 insurance.
  • Defensive Driver – Passing a course in defensive driver could possibly earn you a 5% discount and easily recoup the cost of the course.
  • Homeowners Discount – Just being a homeowner may trigger a policy discount on insurance since owning and maintaining a home means you have a higher level of financial diligence.
  • Multiple Cars – Having multiple cars with the same insurance company can reduce the rates for all insured vehicles.
  • Seat Belt Discounts – Buckling up and requiring all passengers to buckle up before driving could save 15% off the medical payments premium.
  • Professional Organizations – Having an affiliation with specific professional or occupational memberships or organizations may earn a discount when shopping for insurance.

Policy discounts save money, but most discounts do not apply to the entire policy premium. Most only apply to individual premiums such as liability and collision coverage. So even though it sounds like adding up those discounts means a free policy, it’s just not the way it works.

Some of the insurance companies who might offer these discounts are:

When getting free car insurance quotes, it’s a good idea to all companies you are considering which credits you are entitled to. Discounts may not be available in your area. To choose insurance companies who offer insurance discounts, click this link.

Learn how to lower your insurance premiums

When buying auto insurance it’s important to understand the rating factors that come into play when calculating your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can earn you lower auto insurance prices.

  • Prevent auto insurance lapses – Allowing your auto insurance policy to lapse will be a guaranteed way to trigger a rate increase. In addition to paying higher premiums, the inability to provide proof of insurance could earn you a steep fine or even jail time. You may need to prove you have insurance by filing a SR-22 with your state DMV.
  • Bundling policies can get discounts – Most insurance companies will award lower prices for people that have more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount it’s always a smart idea to comparison shop to verify if the discount is saving money.
  • When should you file a policy claims? – If you frequently file small claims, you can look forward to either policy cancellation or increased premiums. Car insurance companies give the best rates to people who are claim-free. Insurance coverage is intended to be relied upon for claims that you cannot pay yourself.
  • Liability protection – Liability insurance is the coverage that protects you in the event that a jury decides you are liable for personal injury or accident damage. It provides legal defense to defend your case. Liability is cheap compared to other policy coverages, so do not skimp.
  • With age comes responsibility – Young drivers are proven to be easily distracted behind the wheel so auto insurance rates are higher. Adding a teenage driver to your auto insurance policy can increase premiums substantially. More mature drivers have been proven to be more responsible, tend to file fewer claims and get fewer tickets.
  • Drivers with responsible credit save on auto insurance – Credit score is a large factor in calculating your premium rate. If your credit rating is not that good, you could save money insuring your 2012 BMW X5 by improving your credit score. Drivers with very high credit ratings tend to be less risk to insure as compared to drivers with lower credit ratings.
  • Physical damage deductibles – Comp and collision deductibles define the amount you are willing to pay out-of-pocket if you file a covered claim. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Examples of some claims that would be covered are rearending another vehicle, animal collisions, and having a roll-over accident. The more of the claim you pay before a claim is paid (deductible), the less your company will charge you for insurance on X5 insurance.
  • Tickets mean higher rates – A bad driving record has a lot to do with how much you pay for insurance. Having just one citation can bump up the cost forty percent or more. Drivers who don’t get tickets pay less for auto insurance compared to bad drivers. Drivers who have gotten license-revoking violations such as reckless driving or DUI may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to drive a vehicle legally.

Tailor your car insurance coverage to you

When it comes to buying adequate coverage for your vehicles, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. These are some specific questions can aid in determining if your insurance needs could use an agent’s help.

  • Is other people’s property covered if stolen from my vehicle?
  • When does my teenage driver need to be added to my policy?
  • Do I have coverage for damage caused while driving under the influence?
  • Why does it cost so much to insure a teen driver?
  • Should I waive the damage coverage when renting a car?
  • How can I get my company to pay me more for my totalled car?
  • Are there companies who specialize in insuring high-risk drivers?

If it’s difficult to answer those questions, you may need to chat with a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and may give you better protection.

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

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Coverages available on your insurance policy

Understanding the coverages of a insurance policy can be of help when determining which coverages you need and proper limits and deductibles. Insurance terms can be confusing and nobody wants to actually read their policy. Shown next are typical coverages available from insurance companies.

Comprehensive protection – This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims like a broken windshield, rock chips in glass and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

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

Collision insurance covers things such as damaging your car on a curb, hitting a parking meter, crashing into a building, rolling your car and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Auto liability insurance – Liability insurance can cover damage that occurs to other people or property. It protects YOU from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three 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, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability coverage pays for things such as court costs, bail bonds, repair bills for other people’s vehicles and attorney fees. How much coverage you buy is your choice, but consider buying higher limits if possible.

Medical expense coverage – Med pay and PIP coverage kick in for immediate expenses for things like hospital visits, X-ray expenses and ambulance fees. They can be used in conjunction with a 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 if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.

Due to the fact that many 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.

Save for a rainy day

When you buy car insurance online, never skimp on coverage in order to save money. In too many instances, someone sacrificed uninsured motorist or liability limits only to regret that the small savings ended up costing them much more. Your aim should be to buy enough coverage for the lowest price, but do not skimp to save money.

Throughout this article, we presented some good ideas how to reduce 2012 BMW X5 insurance rates online. The key thing to remember is the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. You may even discover the lowest rates are with a small local company. Smaller companies can often provide lower car insurance rates in certain areas than the large multi-state companies such as State Farm or Progressive.

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