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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Having to pay for high-priced BMW 5 Series insurance can diminish your checking account and possibly require postponing other expenditures. Performing a rate comparison is a smart way to make ends meet.

Companies like State Farm, Progressive and GEICO continually hit you with catchy ads and it can be hard to separate fact from fiction and do the work needed to find the best deal.

If you have a policy now or are shopping for new coverage, you can learn to cut your premiums and possibly find even better coverage. Buying car insurance is quite easy. Drivers just need to understand how to shop their coverage around online.

BMW 5 Series insurance premium factors

Part of the car insurance buying process is learning some of the factors that are used to determine the price you pay for car insurance. If you know what determines base rates, this enables informed choices that can help you get cheaper rates.

The itemized list below are most of the major factors used by your company to calculate premiums.

  • Choose high crash test ratings and save – Cars with high safety ratings tend to have lower insurance rates. Vehicles engineered for safety have better occupant injury protection and reduced instances of injuries means less claims paid and more competitive rates for policyholders. If your BMW scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
  • If you don’t need it don’t buy it – There are a ton of extra coverages that can waste your money if you don’t pay attention. Insurance for things like roadside assistance, accident forgiveness, and additional equipment coverage are some examples. You may think they are a good idea when you first buy your policy, but now you might not need them so eliminate them to save money.
  • Improve your credit rating and save – Your credit history will be a significant factor in calculating your car insurance rates. Drivers who have high credit ratings tend to be less risk to insure than those with lower ratings. If your credit can be improved, you could be paying less to insure your 2015 BMW 5 Series if you improve your credit rating.
  • Deter theft and lower rates – Buying a car that has a built-in theft deterrent system can help lower your rates. Theft deterrent systems like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop vehicle theft.
  • The more you drive the more you pay – Driving more miles each year the more you’ll pay to insure it. The majority of insurers calculate rates based upon how much you drive. Vehicles not used for work or commuting cost less to insure than vehicles that have high annual mileage. It’s a good idea to make sure your car insurance declarations sheet correctly shows the correct driver usage, because it can save money. Incorrect rating for your 5 Series may be wasting your money.
  • Females tend to be lower risk – The statistics show that females tend to be a little less risky than males. The data does not necessarily mean that women are better drivers. Both sexes get in at-fault accidents in similar percentages, but males cause more damage. Men also receive more costly citations like reckless driving and DUI. Males from age 16 to 21 generally have the highest accident percentage and thus pay the highest rates.

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

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Free insurance coverage rate quotes

Finding low cost 2015 BMW 5 Series insurance coverage rates is a fairly straight forward process. All you need to do is take a couple of minutes comparing rate quotes to find the company with the cheapest auto insurance quotes. Shoppers can get rates using one of these methods.

The fastest and easiest way to get the best comparison quotes is to use a rate comparison form click here to open form in new window. This type of form saves time by eliminating separate quote forms for every insurance coverage company. One form submission gets prices estimates direct from many companies.

A more difficult way to shop for insurance coverage online is spending the time to visit each company’s website to complete a price quote. For sake of this example, we’ll pretend you want to compare Progressive, Safeco and GMAC. In order to compare rates, you need to spend time on each company’s site and type in your information over and over, which can get old fast.

For a list of links to companies insuring cars in your area, click here.

Compare rates however you want, just do your best to use the same quote data with every price quote. If the quotes have unequal deductibles or liability limits you will not be able to truly determine the lowest rate.

Beware of misleading car insurance ads

Consumers can’t avoid all the ads that claim the best rates by Allstate, GEICO and Progressive. They all seem to advertise the message about savings if you just switch your policy.

That’s great but how can every company sell you cheaper insurance coverage?

Insurance companies quote the lowest rates for the type of insured that will most likely be profitable. For instance, a profitable customer could be between the ages of 30 and 50, owns their home, and chooses high deductibles. Anyone who matches those parameters will probably get cheap premium rates and therefore will save when they switch companies.

People who do not meet these stringent criteria must pay a higher rate and this can result in business not being written. If you listen closely, the ads state “people that switch” but not “everyone who gets a quote” save that much money. This is how companies can truthfully lure you into getting a quote. Because of these techniques, you should do a rate comparison at every renewal. It’s just not possible to know which car insurance company will give you the biggest savings.

Don’t overlook these insurance discounts

Companies offering auto insurance don’t necessarily list their entire list of discounts in an easy-to-find place, so below is a list some of the more common and the more hidden credits available to lower your premiums when you buy auto insurance online. If you do not double check each discount you qualify for, you could be saving more on your insurance.

  • Senior Citizen Discount – Drivers over the age of 55 are able to get reduced rates on 5 Series insurance.
  • Anti-theft System – Vehicles optioned with advanced anti-theft systems are stolen less frequently and can earn a small discount on your policy.
  • Defensive Driving Course – Taking time to complete a course that instructs on driving safety could cut 5% off your bill and also improve your driving technique.
  • Claim-Free Discount – Insureds with no claims or accidents pay much less in comparison with insureds who have frequent claims or accidents.
  • Active Service Discounts – Being on active deployment in the military could mean lower insurance rates.
  • Own a Home – Being a homeowner may earn you a small savings because owning a home means you have a higher level of financial diligence.
  • Low Mileage – Low mileage vehicles may allow you to get better prices on cars that stay parked.
  • Save with More Vehicles Insured – Drivers who insure more than one vehicle with one company can reduce the rates for all insured vehicles.
  • New Car Discount – Buying a new car model can save up to 30% because new vehicles keep occupants safer.

A quick disclaimer, some of the credits will not apply to the entire cost. Most only reduce the cost of specific coverages such as comp or med pay. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.

Some of the insurance companies that possibly offer most of these discounts may include but are not limited to:

Check with every prospective company the best way to save money. Some of the earlier mentioned discounts may not apply to policyholders in your state.

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

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When to get professional advice

When choosing adequate coverage, there really is no perfect coverage plan. Each situation is unique and a cookie cutter policy won’t apply. For instance, these questions might help in determining whether or not you could use an agent’s help.

  • What is no-fault insurance?
  • I don’t drive much so do I pay less?
  • Can I get a multi-policy discount?
  • Is my cargo covered for damage or theft?
  • Do I need more liability coverage?
  • Does coverage extend to my business vehicle?
  • Should I buy additional glass protection?
  • Is a fancy paint job covered?
  • Are rental cars covered under my policy?
  • Who is covered when they drive my 2015 BMW 5 Series?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.

The coverage is in the details

Knowing the specifics of your policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverage types found on most auto insurance policies.

Comprehensive insurance

This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things like damage from getting keyed, falling objects, hitting a bird and hitting a deer. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and damage to your BMW 5 Series.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for short-term medical expenses for things like EMT expenses, surgery, rehabilitation expenses and nursing services. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants as well as being hit by a car walking across the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Collision coverage protection

This coverage pays for damage to your 5 Series resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision can pay for things such as sideswiping another vehicle, hitting a parking meter, crashing into a ditch and backing into a parked car. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to bump up the deductible to save money on collision insurance.


This protects you from damage or injury you incur to other people or property. It protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.

Liability coverage pays for claims such as structural damage, repair bills for other people’s vehicles, pain and suffering and emergency aid. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as high a limit as you can afford.

Better coverage you can count on

As you restructure your insurance plan, you should never reduce coverage to reduce premium. There have been many situations where an insured dropped collision coverage only to discover later they didn’t purchase enough coverage. Your goal should be to find the BEST coverage at the best possible price but still have enough coverage for asset protection.

Cheaper auto insurance is possible both online in addition to local insurance agencies, so you should be comparing quotes from both in order to have the best price selection to choose from. There are still a few companies who may not offer online rate quotes and these regional insurance providers work with independent agents.

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