Lower Your 1999 BMW 5 Series Insurance Quotes

Want better insurance rates for your BMW 5 Series? Being forced to pay for high-priced insurance premiums can bleed your budget and force you to tighten up your finances. Doing a rate comparison can save money and help to ensure you are getting the best deal.

Drivers have so many car insurance companies to pick from, and although it’s nice to have multiple companies, it can be more challenging to find the best rates for your vehicles.

It’s smart to quote other rates as often as possible because insurance prices trend upward over time. Despite the fact that you may have had the best deal for 5 Series coverage last year the chances are good that you can find a lower rate quote today. Ignore everything you know about insurance because you’re about to learn the fastest and easiest way to get good coverage at a lower rate.

Insurance coverage companies offer lots of discounts

Car insurance can cost a lot, but you might already qualify for some discounts to help bring down the price. Most are applied when you purchase, but lesser-known reductions have to be inquired about prior to receiving the credit. If you check and find you aren’t receiving every discount you deserve, you could be getting lower rates.

• Federal Employees – Having worked for a branch of the government could cut as much as 10% off for 5 Series coverage with select insurance companies.
• No Claim Discounts – Insureds with no claims or accidents have much lower rates in comparison with drivers who are more careless.
• Driver Education Discount – Cut your cost by having your teen driver take driver’s ed class as it can save substantially.
• Defensive Driver Discounts – Taking part in a course teaching defensive driving skills could possibly earn you a 5% discount if your company offers it.
• Multi-Vehicle Discounts – Purchasing coverage when you have several vehicles on a single policy can get a discount on all vehicles.
• Discount for Life Insurance – Select insurance coverage companies reward you with a discount if you purchase a life insurance policy as well.

It’s important to note that most of the big mark downs will not be given to all coverage premiums. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears having all the discounts means you get insurance for free, you aren’t that lucky.

For a list of insurers that have a full spectrum of discounts, click here to view.

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Components of your BMW 5 Series insurance premiums

Lots of things are used in the calculation when you get your auto insurance bill. Some are pretty understandable such as traffic violations, but others are less apparent such as your marital status or how safe your car is.

• Save money with higher comp and collision deductibles – Comprehensive and collision coverage deductibles define how much you are willing to pay before your auto insurance pays a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. A few examples of covered claims are a windshield broken by a bird, fire damage, or theft of your vehicle. The more expense you are required to pay out-of-pocket, the lower your rates will be for 5 Series coverage.
• Single drivers take more risk – Walking down the aisle can get you a discount on your policy. It is viewed as being less irresponsible and statistics show drivers who are married file infrequent claims.
• Drivers with excellent credit save on auto insurance – Having a bad credit rating can be a huge factor in determining premium rates. Therefore, if your credit rating can be improved, you could potentially save money when insuring your 1999 BMW 5 Series by improving your rating. People with good credit tend to be less risk to insure than those with lower ratings.
• Gender and auto insurance prices – Statistics have proven that men are more aggressive behind the wheel. It does not mean females are better at driving than males. Both sexes are responsible for at-fault accidents at a similar rate, but men tend to have higher claims. Not only that, but men also get higher numbers of serious violations like DWI (DUI) or reckless driving. Male teenagers cause the most accidents and therefore pay the highest rates.
• Prices impacted by vehicle usage – The higher the mileage driven each year the higher your rate. A lot of insurance companies apply a rate determined by how the vehicle is used. Vehicles used primarily for pleasure use receive lower rates than vehicles that are driven to work every day. It’s a smart idea to ensure your auto insurance declarations sheet is showing the proper vehicle usage. Incorrect rating for your 5 Series may be wasting your money.
• Better drivers pay less – Drivers with clean records receive lower rates than people who have multiple driving citations. Only having one driving citation could increase your next policy renewal by as much as thirty percent. People who have serious citations such as DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to legally drive a vehicle.
• Cheaper rates using alarms and GPS tracking – Choosing to buy a car with a theft deterrent system can earn a premium discount. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder car theft.
• Premiums are high for teenagers – Youthful drivers have a tendency to be inattentive when driving with friends therefore auto insurance rates are much higher. More mature drivers are viewed as being more responsible, tend to cause fewer accidents and tend to be get fewer driving tickets.

Do I just need basic coverages?

When it comes to buying adequate coverage for your personal vehicles, there really is not a single plan that fits everyone. Every insured’s situation is different so your insurance needs to address that. For example, these questions could help you determine if your insurance needs could use an agent’s help.

• What are the financial responsibility laws in my state?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Do I have coverage when making deliveries for my home business?
• Do I have coverage when pulling a U-Haul trailer?
• Will my rates increase for filing one claim?
• Do I need roadside assistance coverage?
• Is borrowed equipment or tools covered if stolen or damaged?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier

Don’t be fooled by advertising claims

Big name companies like Geico, State Farm and Progressive constantly bombard you with ads on television and other media. All the ads make the same claim about savings just by moving to them. How does every insurance coverage company charge you a lower premium? This is the way they can do it.

All companies give the best rates for the type of driver that will most likely be profitable. For example, a profitable customer might have to be married and over the age of 30, has no prior claims, and drives a safe vehicle. Any driver who fits those characteristics will probably get cheap car insurance rates and have a good chance to save if they switch.

Insureds who are not a match for this ideal profile must pay higher premiums and this results in the customer buying from a different company. If you pay close attention to the ads, they say “drivers who switch” not “everyone that quotes” save that much money. That’s the way insurance companies can make claims like that. This emphasizes why you should compare rate quotes every year. Because you cannot predict which company will have the lowest rate quotes.

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Car insurance specifics

Knowing the specifics of your policy can help you determine appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are the usual coverages offered by car insurance companies.

Collision coverage – Collision coverage will pay to fix damage to your 5 Series from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things like sideswiping another vehicle, colliding with another moving vehicle and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible in order to get cheaper collision rates.

Auto liability – This provides protection from damage or injury you incur to other’s property or people in an accident. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability 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 a total limit of $100,000 for damage to vehicles and property.

Liability insurance covers claims like bail bonds, structural damage and funeral expenses. How much coverage you buy is up to you, but buy as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This provides protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your 1999 BMW 5 Series.

Because many people carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance pay for immediate expenses for funeral costs, nursing services and surgery. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive auto coverage – Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like hitting a bird, hitting a deer, rock chips in glass and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

A penny earned…

Affordable 1999 BMW 5 Series insurance is attainable on the web as well as from independent agents, and you should compare price quotes from both so you have a total pricing picture. Some auto insurance companies may not have rates over the internet and most of the time these regional carriers only sell through independent agents.

You just read some good ideas how to reduce 1999 BMW 5 Series insurance prices online. The most important thing to understand is the more times you quote, the higher your chance of finding low cost auto insurance. Consumers could even find that the lowest prices come from the least-expected company. Regional companies may cover specific market segments cheaper compared to the large companies like Progressive and Geico.

More tips and info about auto insurance can be found in these articles:

• Understanding your Policy (NAIC.org)
• Credit Impacts Car Insurance Rates (State Farm)
• Auto Insurance 101 (About.com)
• Driving in Bad Weather (Insurance Information Insitute)

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