Compare 2017 BMW X5 M Insurance Quotes 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: Apr 4, 2024

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Want better insurance rates for your BMW X5 M? Searching for low-cost insurance on the internet can be challenging for drivers that are not comfortable with quoting and price shopping on the internet. With so many insurers to choose from, how are we expected to be able to compare every insurance company to find better prices?

More discounts mean cheaper premiums

Car insurance is not cheap, but you may be missing some discounts that many people don’t even know exist. Certain reductions will be credited at the time of purchase, but some must be asked about before you get the savings.

  • Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase life insurance.
  • Onboard Data Collection – Policyholders that allow data collection to track where and when they drive remotely like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if they show good driving skills.
  • Theft Deterrent Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen less frequently and will save you 10% or more.
  • Distant College Student Discount – Kids who live away from home at college and do not have a car could qualify for this discount.
  • Savings for New Vehicles – Putting insurance coverage on a new car can save up to 30% since new vehicles are generally safer.
  • Bundled Policy Discount – When you combine your auto and homeowners insurance and insure them with the same company you could get a discount of as much as 10 to 15 percent.
  • Discount for Passive Restraints – Cars that have air bags and/or automatic seat belt systems could see savings as much as 30%.
  • Switch and Save Discount – A few larger companies allow discounts for switching to them before your current policy expires. You can save around 10% with this discount.
  • Discounts for Cautious Drivers – Drivers who don’t get into accidents may save up to 50% more for X5 M coverage than drivers with accidents.
  • Government Employee Discount – Being employed by or retired from a federal job may qualify for a discount when you quote auto insurance for X5 M coverage with select insurance companies.

You should keep in mind that some of the credits will not apply to all coverage premiums. A few only apply to the price of certain insurance coverages like comprehensive or collision. Just because you may think you could get a free car insurance policy, it doesn’t quite work that way.

To find insurance companies who offer discounts, enter your zip code here.

How to compare insurance coverage rate quotes

Shopping for lower insurance coverage rates can be a lot of work if you aren’t aware of the best way to get rate quotes. You can spend countless hours driving to agents in your area, or you can stay home and use online quotes to get rates in a matter of minutes.

Most of the larger companies take part in a program that allows shoppers to complete one form, and each company provides a quote for coverage. This system prevents you from having to do quote forms to each company.

To submit your quote information now, enter your zip code here.

The one downside to using this type of system is you can’t choose the companies to get quotes from. So if you prefer to pick individual companies to receive pricing from, we have a listing of the cheapest insurance coverage companies in your area. Click to enter zip code.

Which method you use is up to you, but make sure you are using apples-to-apples information on every price quote you get. If your comparisons have different liability limits it’s impossible to determine which company has the best rates. Slightly different insurance coverages can make a big difference in price. And when comparing insurance coverage rates, know that quoting more helps increase your odds of locating a better price. Not every company provides online quotes, so it’s important to compare rates from those companies as well.

How your X5 M insurance costs are determined

Consumers need to have an understanding of some of the factors that go into determining insurance coverage rates. If you have some idea of what controls the rates you pay, this allows you to make good choices that could help you find much lower annual insurance costs.

The factors shown below are most of the major factors utilized by car insurance companies to help set prices.

  • Can a thief steal your car? – Owning a car with anti-theft technology or alarm system can help lower your rates. Systems that thwart theives such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent car theft and help bring rates down.
  • Higher insurance coverage rates for specific occupations – Did you know your job can affect your rates? Occupations such as real estate brokers, air traffic controllers and medical professionals tend to have higher average rates attributed to high stress and lots of time spent away from family. On the flip side, careers such as professors, engineers and homemakers generally pay rates lower than average for X5 M coverage.
  • Add-on coverages you don’t need – There are a ton of optional add-on coverages that sound like a good idea at the time if you aren’t careful. Add-on coverages like replacement cost coverage, better glass coverage, and motor club memberships may not be needed and are just wasting money. These coverages may sound good when buying your policy, but your money might be better spent on other coverage so eliminate them to save money.
  • No coverage gaps is important – Driving any period of time without insurance is not a good idea and insurance coverage companies will penalize you for letting your coverage cancel without a new policy in place. In addition to paying higher premiums, the inability to provide proof of insurance may earn you fines or a revoked license. You could then be forced to provide proof of insurance in the form of an SR-22 filing with your state motor vehicle department to get your license reinstated.
  • Are women or men drivers cheaper? – Over the last 30 years, statistics show that men are more aggressive behind the wheel. This data doesn’t prove that women are better drivers. Both sexes are in accidents in similar percentages, but males cause more damage and cost insurance companies more money. Men also statistically get ticketed for serious violations like DWI (DUI) or reckless driving. Young men ages 16 to 20 tend to get in the most accidents so they pay the highest premiums.
  • Lower rates come with age – Older, more experienced drivers are proven to be safer behind the wheel, cause fewer claims and accidents . Beginning drivers are statistically proven to be inattentive and easily distracted behind the wheel and because of this, their insurance coverage rates are much higher.
  • Multiple policies with one company – Most larger insurers give lower prices to clients that purchase more than one policy. It’s known as a multi-policy discount. If you currently are using one company, it’s still a good idea to compare other company rates to help guarantee you have the best rates. It’s possible to still find lower rates by buying insurance from more than one company.
  • Increase deductibles and save – Deductibles for physical damage tell how much you are willing to pay out-of-pocket before your insurance coverage pays a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some instances where coverage would apply would be collision with another vehicle, fire damage, and damage from wind. The higher the amount you have to pay, the bigger discount you will receive for X5 M coverage.

It’s not one size fits all

When it comes to choosing proper insurance coverage for your personal vehicles, there is no cookie cutter policy. Every insured’s situation is different.

For example, these questions can aid in determining whether or not you would benefit from an agent’s advice.

  • Do I need special endorsements for business use of my vehicle?
  • Why do I only qualify for high-risk insurance?
  • Am I insured when driving a different vehicle?
  • When should I not file a claim?
  • Are my tools covered if they get stolen from my vehicle?
  • Where can I find high-risk insurance?
  • Am I covered if hit by an uninsured driver?
  • How much liability do I need to cover my assets?
  • Does my medical payments coverage pay my health insurance deductible?
  • Is my dog or cat covered if injured in an accident?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with an agent. If you don’t have a local agent, fill out your zip code.

Car insurance coverages and their meanings

Having a good grasp of a car insurance policy aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Collision coverage – This coverage covers damage to your X5 M from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as crashing into a building, sideswiping another vehicle, colliding with another moving vehicle and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.

Medical payments and PIP coverage – Med pay and PIP coverage reimburse you for bills like EMT expenses, nursing services, pain medications and prosthetic devices. The coverages can be used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states and may carry a deductible

Auto liability insurance – This provides protection from damage or injury you incur to people or other property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Another option is one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability can pay for claims such as attorney fees, structural damage, bail bonds, emergency aid and funeral expenses. How much coverage you buy is up to you, but buy as high a limit as you can afford.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually these coverages do not exceed the liability coverage limits.

Comprehensive auto coverage – This will pay to fix damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as fire damage, damage from a tornado or hurricane and a tree branch falling on your vehicle. The highest amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Don’t throw your cash in the trash

We’ve covered many tips how you can reduce 2017 BMW X5 M insurance premium rates online. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding cheap auto insurance. You may be surprised to find that the best price on auto insurance is with a small local company.

When searching for low cost auto insurance quotes, never skimp on coverage in order to save money. In many instances, consumers will sacrifice comprehensive coverage or liability limits only to regret that the small savings ended up costing them much more. The proper strategy is to purchase a proper amount of coverage at the best price, but do not skimp to save money.

Drivers change insurance companies for a number of reasons such as lack of trust in their agent, unfair underwriting practices, delays in paying claims and policy non-renewal. It doesn’t matter why you want to switch switching auto insurance companies is easier than you think.

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