How Much Does 2015 BMW X5 Car Insurance Cost in 2024?

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Jeffrey Johnson

Insurance Lawyer

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...

Insurance Lawyer

UPDATED: May 27, 2024

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Searching for the cheapest auto insurance rates for your BMW X5? Are you drained from not being able to scrape enough together to buy auto insurance? You’re in the same situation as many other consumers.

Due to the fact that there are so many auto insurance companies to choose from, it is very difficult to pick a lower cost insurance company.

It’s a good idea to compare rates quite often because rates change regularly. If you had the best premium rates for X5 insurance two years ago you may be paying too much now. You can find a lot of wrong information about auto insurance online but in a few minutes you can learn some guaranteed methods to find cheap auto insurance.

The cheapest insurance coverage rate quotes

Shopping for lower insurance coverage rates can be a daunting task if you aren’t aware of the easiest way. You could waste a few hours talking about coverages with agents in your area, or you could use online quotes for quick rates.

Most major companies belong to a marketplace where insurance shoppers only type in their quote data once, and each participating company can provide price quotes for coverage. This system prevents you from having to do repetitive form submissions to each company.

To get comparison pricing now enter your zip code here.

The one downside to pricing coverage this way is you cannot specify the insurers to receive prices from. If you prefer to choose individual companies to compare rates, we put together a list of insurance coverage companies in your area. Click to enter zip code.

However you get your quotes, be sure you’re using exactly the same coverage information for each price quote. If each company quotes different coverage information it’s impossible to determine which company has the best rates. Just slight variations in limits could skew the results. Keep in mind that comparing a large number of companies increases the change that you will find the best rates. Not every company allows you to get online rate quotes, so you also need to get rates from them, too.

Save $415 a year. For real?

Companies like 21st Century, Allstate and State Farm continually stream ads in print and on television. They all make the point about saving some big amount if you move your policy. That’s great but how can every company sell you cheaper insurance coverage?

Most companies have strict underwriting profiles for the type of customer that will generate a profit. A good example of a desirable insured might be married and over the age of 30, has few claims, and drives a lower-performance vehicle. Any customer who matches that profile will most likely get cheap auto insurance rates and is almost guaranteed to save a lot of money.

Drivers who don’t measure up to the “perfect” profile will get higher premiums with the end result being the customer buying from a different company. The ad wording is “customers that switch” not “everyone who quotes” save that much money. This is how insurance companies can confidently claim big savings.

Different companies use different criteria so it is so important to get as many free insurance coverage quotes as possible. It is impossible to guess the company that will fit you best based on your risk profile.

Six tips to get cheaper insurance premiums

A large part of saving on auto insurance is knowing some of the factors that aid in calculating the level of your policy premiums. When you know what positively or negatively determines base rates, this enables you to make decisions that could result in lower premium levels.

The list below includes some of the most rate-impacting factors used by your company to calculate your premiums.

  • Increase physical damage deductibles and save – Insurance for physical damage to your car, also called ‘full coverage’, covers damage that occurs to your BMW. Examples of some claims that would be covered are a windshield shattered by a rock, damage from fire, or theft. Deductibles for physical damage are how much you are willing to pay out-of-pocket if a covered claim is submitted. The more of the claim you choose to pay out-of-pocket, the less your auto insurance will be for X5 insurance.
  • Extra policy coverages can add up – There are many extra coverages that can waste your money if you aren’t diligent. Insurance for things like rental car coverage, high-cost glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. They may seem good initially, but if you have no use for them remove them from your policy.
  • Lower prices with alarms and GPS tracking – Choosing a vehicle that has a built-in theft deterrent system can save you a little every year. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop vehicle theft.
  • Men pay more for insurance coverage – Over the last 30 years, statistics show that females take fewer risks when driving. The data does not necessarily mean that men are worse drivers. Males and females tend to get into accidents in similar numbers, but the male of the species get into accidents with more damage. In addition to higher claims, males also receive more major tickets such as reckless driving.
  • Premiums increase with driving tickets – Your driving record impacts your car insurance rates tremendously. Good drivers get better prices compared to drivers with tickets. Only having one driving citation can increase the cost of insurance by as much as twenty percent. Drivers unfortunate enough to have flagrant violations like reckless driving, hit and run or driving under the influence may find that they have to to prove financial responsibility with the DMV in their state in order to legally drive.
  • Prices and job – Occupations such as military generals, social workers and medical professionals generally pay higher average rates due to high stress levels and lengthy work days. Conversely, occupations like scientists, athletes and homemakers generally pay rates lower than average for X5 insurance.

More affordable rates by getting discounts

Auto insurance companies do not list all available discounts in an easy-to-find place, so the following list contains some of the more common in addition to some of the lesser obvious credits available to lower your premiums when you buy insurance coverage online. If you do not double check each discount possible, you may be paying too high a price.

  • Anti-lock Brake Discount – Cars, trucks, and SUVs that have steering control and anti-lock brakes are much safer to drive and therefore earn up to a 10% discount.
  • Good Student – Excelling in school may save as much as 25% on a insurance coverage quote. The discount lasts up until you turn 25.
  • Drive Safe and Save – Insureds who avoid accidents can save as much as half off their rates for X5 insurance than less cautious drivers.
  • Organization Discounts – Joining a professional or civic organization could qualify you for a break on your next car insurance statement.
  • Federal Government Employee – Active or retired federal employment can save as much as 8% for X5 insurance depending on your car insurance provider.
  • Accident Forgiveness Coverage – Not necessarily a discount, but some companies like Liberty Mutual and GEICO will turn a blind eye to one accident without the usual rate increase if you have no claims before the accident.

As is typical with insurance, some credits don’t apply to the entire cost. A few only apply to individual premiums such as comprehensive or collision. So even though it sounds like all those discounts means the company will pay you, you won’t be that lucky.

A few of the larger companies and a partial list of their discounts are detailed below.

  • Progressive may offer discounts for homeowner, online quote discount, continuous coverage, good student, and online signing.
  • SAFECO policyholders can earn discounts including anti-lock brakes, safe driver, teen safety rewards, anti-theft, multi-car, accident prevention training, and drive less.
  • American Family discounts include Steer into Savings, defensive driver, good student, bundled insurance, and TimeAway discount.
  • MetLife offers discounts for good student, defensive driver, claim-free, good driver, multi-policy, and accident-free.
  • GEICO offers discounts including anti-theft, federal employee, multi-policy, emergency military deployment, multi-vehicle, and membership and employees.
  • The Hartford may include discounts for anti-theft, driver training, air bag, defensive driver, bundle, good student, and vehicle fuel type.

Before purchasing a policy, check with all companies you are considering to apply every possible discount. Some of the earlier mentioned discounts may not apply to policyholders in your area. For a list of companies that can offer you the previously mentioned discounts, enter your zip code here.

Your insurance coverage coverage should be tailored to you

When buying proper insurance coverage for your personal vehicles, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. For example, these questions might help in determining whether you might need professional guidance.

  • Who is covered by my policy?
  • Is upholstery damage covered by car insurance?
  • Can my teen driver be rated on a liability-only vehicle?
  • Are my friends covered when driving my 2015 BMW X5?
  • When would I need rental car insurance?
  • Which companies will insure high-risk drivers?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. To find an agent in your area, take a second and enter your zip code.

Car insurance policy coverages for a BMW X5

Learning about specific coverages of your car insurance policy helps when choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types found on most car insurance policies.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for bills such as X-ray expenses, ambulance fees, chiropractic care, prosthetic devices and nursing services. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Liability – This coverage provides protection from injuries or damage you cause to other people or property in an accident. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Some companies may use one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.

Liability insurance covers claims like repair bills for other people’s vehicles, repair costs for stationary objects, court costs and bail bonds. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Comprehensive insurance – This pays for damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hitting a deer, hitting a bird, damage from a tornado or hurricane, damage from getting keyed and damage from flooding. The highest amount a car 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 it’s not worth carrying full coverage.

Collision – This coverage covers damage to your X5 resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like hitting a parking meter, driving through your garage door, backing into a parked car, crashing into a building and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to choose a higher deductible to bring the cost down.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family and damage to your BMW X5.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Have the Midas touch

We just showed you quite a bit of information on how to save on 2015 BMW X5 insurance. It’s most important to understand that the more rate quotes you have, the better your chances of lowering your prices. Drivers may discover the best premium rates are with some of the smallest insurance companies. These smaller insurers can often provide lower prices in certain areas than the large multi-state companies such as Allstate and Progressive.

Cheaper auto insurance is attainable on the web as well as from independent agents, so you need to shop insurance coverage with both to have the best selection. Some auto insurance companies may not have rate quotes online and usually these small, regional companies only sell coverage through independent agents.

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