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 6, 2015

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Trying to find lower insurance coverage rates for your BMW X5? Searching for low-cost insurance for a new or used BMW X5 can normally be a lot of work, but you can learn these tips to make it easier. There are more efficient ways to find insurance coverage online so we’re going to tell you the best way to compare rates for a BMW and locate the cheapest rates from both online companies and local agents.

If you are insured now or are just looking to switch companies, you can use these techniques to find the best rates while maximizing coverage. Shopping for the best insurance coverage is simple if you know the tricks. Vehicle owners only need to know the most effective way to compare prices online.

First Step: Get free insurance coverage quotes

Getting more affordable 2016 BMW X5 insurance coverage pricing can be quick and easy. All that’s required is to spend a little time to compare rate quotes from online providers. It’s really simple and can be done in just a few minutes using one of these methods.

  1. The fastest way consumers can make multiple comparisons is to use a rate comparison form (click to open form in new window). This easy form keeps you from doing separate quote forms for each company. Filling out one form compares rates from all major companies. This is perfect if you don’t have a lot of time.
  2. Another way to get comparison quotes requires you to visit each company website and complete a new quote form. For instance, let’s say you want to get rates from Nationwide, 21st Century and GMAC. To do that, you would have to navigate to each company’s site and enter your policy data, which explains why we recommend starting with the first method.

    For a handy list of car insurance company links in your area, click here.

However you get your quotes, be sure to compare apples-to-apples coverages and limits for each comparison quote. If your comparisons have differing limits it’s not possible to make an equal comparison.

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

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Car insurance policy discounts

Car insurance can cost a lot, but you might be missing out on some discounts to reduce the price significantly. Some discounts apply automatically when you purchase, but less common discounts must be asked about in order for you to get them.

  • Discount for Passive Restraints – Options like air bags can qualify for discounts of 20 to 30 percent.
  • ABS and Traction Control Discounts – Cars, trucks, and SUVs with ABS braking systems or traction control can stop better under adverse conditions so companies give up to a 10% discount.
  • Homeowners Savings – Being a homeowner can help you save on car insurance since owning and maintaining a home means you have a higher level of financial diligence.
  • Government Employees – Active or former government employment could cut as much as 10% off on X5 coverage depending on your company.
  • New Vehicle Savings – Buying car insurance coverage on a new vehicle is cheaper compared to insuring an older model.
  • Good Student – This discount may save as much as 25% on a insurance coverage quote. This discount can apply up until you turn 25.
  • Resident Student – Children who attend college more than 100 miles from home and do not take a car to college may be able to be covered for less.
  • Pay Upfront and Save – By paying your policy upfront instead of making monthly payments you could save up to 5%.

Don’t be shocked that some credits don’t apply to the entire policy premium. Most only reduce specific coverage prices like physical damage coverage or medical payments. Even though the math looks like all those discounts means the company will pay you, you aren’t that lucky.

A list of companies and a partial list of their discounts are outlined below.

  • State Farm includes discounts for student away at school, multiple autos, good student, anti-theft, good driver, and Drive Safe & Save.
  • American Family may offer discounts for air bags, Steer into Savings, mySafetyValet, multi-vehicle, good driver, and good student.
  • GEICO offers discounts for anti-lock brakes, multi-vehicle, driver training, federal employee, and daytime running lights.
  • 21st Century policyholders can earn discounts including homeowners, 55 and older, theft prevention, student driver, and anti-lock brakes.
  • Progressive offers discounts including online quote discount, online signing, continuous coverage, multi-vehicle, good student, multi-policy, and homeowner.

Check with each insurance company to apply every possible discount. Some credits may not be offered in your area. To view providers that have a full spectrum of discounts, click here to view.

Get BMW X5 insurance for less

Many different elements are considered when you quote your car insurance policy. Some are pretty understandable such as traffic violations, but other factors are more obscure like your vehicle usage or your financial responsibility.

The factors shown below are some of the items companies use to determine rates.

  • Responsible credit means lower rates – Having a bad credit score is likely to be a major factor in determining premium rates. Consumers who have excellent credit tend to be better drivers and file fewer claims as compared to drivers with worse credit. If your credit rating is lower than you’d like, you could pay less to insure your 2016 BMW X5 if you improve your credit rating.
  • Youthful drivers pay more – Older drivers tend to be more responsible, cause fewer claims and accidents , and usually have better credit.Young drivers are proven to be inattentive behind the wheel therefore insurance coverage rates are much higher.
  • Drive fewer miles and save – The more miles you rack up on your BMW annually the more you’ll pay to insure it. A lot of companies calculate prices based on their usage. Vehicles that are left in the garage get more affordable rates than vehicles that have high annual mileage. Having an incorrect usage rating on your X5 is throwing money out the window. Ask your agent if your insurance coverage declarations sheet correctly shows annual mileage, because improper ratings can cost you money.
  • Car and home together may be cheaper – Most larger insurance coverage companies provide a discount to policyholders that purchase more than one policy such as combining an auto and homeowners policy. The discount can be ten percent or more. Even if you’re getting this discount you may still want to get quotes from other companies to verify if the discount is saving money.
  • Gender and insurance costs – The statistics show that females tend to be a little less risky than males. The data does not necessarily mean that men are worse drivers. They both are in accidents in similar percentages, but the men cause more damage. Not only that, but men also receive more costly citations like DWI (DUI) or reckless driving. Young men ages 16 to 20 have the highest risk to insure and thus pay the highest rates.

How do I know if I need professional advice?

When it comes to choosing the right insurance coverage, there really is no “perfect” insurance plan. Everyone’s situation is unique.

For instance, these questions can aid in determining whether or not you might need an agent’s assistance.

  • Does coverage extend to a rental car in a foreign country?
  • Where can I get insurance after a DUI in my state?
  • Can I get a multi-policy discount?
  • What is high-risk coverage and where do I buy it?
  • Should I carry comprehensive and collision coverage?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Do I need rental car coverage?
  • Is a new car covered when I drive it off the dealer lot?

If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an agent. If you don’t have a local agent, complete this form. It is quick, free and can help protect your family.

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

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Do you really save 40% when you switch?

Consumers can’t ignore all the ads for cheaper auto insurance from companies such as Progressive, GEICO, Allstate and State Farm. All the companies make the point about saving some big amount if you move your policy.

How does every auto insurance company say the same thing? It’s all in the numbers.

All companies quote the lowest rates for the type of driver that makes them money. One example of this type of insured could possibly be over age 30, has no driving citations, and has great credit. Any person who meets those qualifications will get very good prices and have a good chance to save a lot of money.

Consumers who cannot meet these stringent criteria will have to pay higher premium rates with the end result being the customer buying from someone else. If you listen to the ad wording, they say “people who switch” not “everyone that quotes” save that kind of money. That’s why companies can advertise the savings. Because of these techniques, it is so important to get insurance coverage quotes from several different companies. It’s just not possible to know which auto insurance company will have the best prices.

Educate yourself about auto insurance coverages

Learning about specific coverages of auto insurance aids in choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be confusing and coverage can change by endorsement.

Collision coverage – This pays to fix your vehicle from damage resulting from a collision with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things such as scraping a guard rail, hitting a parking meter, crashing into a building, damaging your car on a curb and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible to save money on collision insurance.

Liability insurance – Liability insurance will cover injuries or damage you cause to people or other property by causing an accident. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 that means you have a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.

Liability can pay for things like legal defense fees, loss of income and repair bills for other people’s vehicles. How much liability coverage do you need? That is up to you, but you should buy as much as you can afford.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like damage from flooding, hail damage, theft and vandalism. The maximum payout you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Uninsured Motorist or Underinsured Motorist insurance – This coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW X5.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Insurance for medical payments – Med pay and PIP coverage pay for expenses like nursing services, X-ray expenses, chiropractic care and rehabilitation expenses. They are often used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is not universally available and gives slightly broader coverage than med pay

More effort can pay off

A few companies may not provide internet price quotes and many times these regional insurance providers sell through local independent agents. Budget-conscious 2016 BMW X5 insurance can be found on the web and from local insurance agents, and you should compare rates from both to have the best selection.

We just covered a lot of information how to reduce 2016 BMW X5 insurance prices online. It’s most important to understand that the more times you quote, the better your chances of lowering your rates. You may even find the best price on car insurance is with a lesser-known regional company.

As you quote insurance coverage, you should never reduce coverage to reduce premium. There are a lot of situations where an insured cut collision coverage only to regret they didn’t have enough coverage. Your strategy should be to find the BEST coverage for the lowest price while not skimping on critical coverages.

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