2001 BMW X5 Car Insurance Rates – 8 Tips for Best Quotes

Have you fallen victim to high-priced insurance? Don’t sweat it because there are lots of people in the same boat.

With vehicle owners having so many companies to choose from, it can be impossible to locate the most affordable insurance company.

Finding insurance

Performing a rate comparison can take time and effort if you aren’t aware of the most efficient way. You could waste a few hours talking about coverages with insurance companies in your area, or you can utilize online quotes to get prices fast.

Most of the larger companies participate in an industry program where prospective buyers enter their coverage request one time, and each participating company then returns a price quote based on the submitted data. This system prevents you from having to do quote requests for each company you want a rate for.

To compare pricing click here (opens in new window).

The only drawback to pricing coverage this way is that you can’t choose the companies you want pricing from. If you wish to select specific insurance companies for rate comparison, we have a page of the cheapest insurance companies in your area. Click here for list of insurance companies.

Which method you use is up to you, but make sure you compare nearly identical quote data on every quote you get. If you use different coverage information it will be impossible to find the best deal for your BMW X5. Even a minor difference in coverages may cause a big price difference. Just remember that making a lot of price comparisons helps you find a better price. Not every company does online quotes, so you also need to get quotes from them as well.

These eight discounts can cut car insurance rates

Companies that sell car insurance do not list every available discount in an easy-to-find place, so we researched both well-publicized and also the lesser-known savings tricks you should be using when you buy insurance online. If you check and find you aren’t receiving every discount you qualify for, you are not getting the best rate possible.

  • Discounts for Safe Drivers – Drivers without accidents may save up to 50% more for X5 insurance than less cautious drivers.
  • Accident Waiver – Not necessarily a discount, but certain companies will let one accident slide before they charge you more for coverage with the catch being you have to be claim-free for a specific time period.
  • Save with a New Car – Buying a new car instead of a used car can cost up to 25% less compared to insuring an older model.
  • Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you could save up to 5%.
  • Discount for Low Mileage – Driving fewer miles may allow you to get slightly better prices than normal.
  • Driving Data Discount – Policyholders that allow their company to look at driving patterns remotely such as Progressive’s Snapshot and State Farm’s In-Drive might get better premium rates if they exhibit good driving behavior.
  • Senior Citizen Discount – If you qualify as a senior citizen, you can possibly qualify for reduced rates for X5 insurance.
  • College Student Discount – Kids who attend college more than 100 miles from home and do not take a car to college can be insured at a reduced rate.

Please keep in mind that some of the credits will not apply to the entire cost. Some only apply to specific coverage prices like comp or med pay. Despite the appearance that you could get a free car insurance policy, that’s just not realistic.

A list of car insurance companies and a summarized list of policyholder discounts can be read below.

  • 21st Century may include discounts for driver training, theft prevention, air bags, good student, student driver, and teen driver.
  • State Farm offers discounts for safe vehicle, accident-free, passive restraint, good driver, defensive driving training, and multiple autos.
  • AAA has savings for good student, multi-policy, anti-theft, pay-in-full, and AAA membership discount.
  • Liberty Mutual offers discounts including good student, multi-policy, safety features, newly retired, hybrid vehicle, and new move discount.
  • Progressive includes discounts for online signing, homeowner, multi-policy, online quote discount, and multi-vehicle.

When getting free insurance quotes, it’s a good idea to each insurance company which discounts they offer. Some discounts might not be offered on policies in every state. If you would like to see a list of car insurance companies who offer discounts, click here.

When do I need an agent’s advice?

When choosing the right insurance coverage, there really is not a “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight if you might need an agent’s assistance.

  • Will I be non-renewed for getting a DUI or other conviction?
  • What are the financial responsibility laws in my state?
  • Is my dog or cat covered if injured in an accident?
  • Do I need added coverage for expensive stereo equipment?
  • Is my BMW X5 covered if I use it for business?
  • Am I covered if my car is in a flood?
  • Does liability extend to a camper or trailer?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Will filing a claim cost me more?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of car insurance companies in your area.

Learn about insurance coverages for a 2001 BMW X5

Understanding the coverages of a insurance policy can help you determine the best coverages and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages available from insurance companies.

Uninsured and underinsured coverage

This coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your BMW X5.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive coverages

This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like fire damage, a broken windshield and theft. The highest amount your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for bills for surgery, ambulance fees, EMT expenses and chiropractic care. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state and may carry a deductible

Liability coverages

This will cover injuries or damage you cause to other people or property. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against things like pain and suffering, funeral expenses, repair costs for stationary objects, medical expenses and repair bills for other people’s vehicles. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverage protection

Collision coverage pays to fix your vehicle from damage from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as hitting a mailbox, colliding with another moving vehicle and backing into a parked car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Saving money is sweet as honey

Throughout this article, we presented many ideas to shop for 2001 BMW X5 insurance online. It’s most important to understand that the more providers you compare, the better likelihood of getting inexpensive insurance. Consumers may even find the lowest priced auto insurance comes from a lesser-known regional company. They may have significantly lower prices on certain market segments as compared to the big name companies such as State Farm and Allstate.

As you shop your coverage around, you should never buy less coverage just to save a little money. There are a lot of situations where an insured cut physical damage coverage only to discover later that it was a big error on their part. The aim is to buy the best coverage you can find for the lowest price, but do not skimp to save money.

To learn more, take a look at the resources below: