View 2021 BMW 5 Series 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: May 8, 2024

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Looking for the cheapest insurance rates for your BMW 5 Series? Finding cheaper premium rates for insurance could be challenging for people not familiar with quoting coverage prices online. With such a large choice of companies in the marketplace, it can quickly become a difficult situation to locate the lowest price.

It’s a good habit to take a look at other company’s rates as often as possible since prices go up and down regularly. Even if you got the lowest price on 5 Series insurance at your last renewal there is a good chance you can find better rate quotes now. Forget anything you know (or think you know) about insurance because it’s time to teach you the quickest way to save money, get proper coverage and the best rates.

If you are paying for car insurance now, you will most likely be able to save some money using these tips. Pricing more affordable auto insurance can be fairly easy. Although drivers do need to learn how insurance companies compete online and take advantage of how the system works.

How to get free car insurance quotes online

When shopping for car insurance there are multiple ways of comparing price quotes from many available car insurance companies in your state. The simplest method to compare BMW 5 Series insurance prices is to jump online and get quotes. It is quite easy and can be accomplished in a couple of different ways.

  • Without a doubt, the easiest way to find low rates is to use a rate comparison form. This type of form keeps you from doing repetitive form entry for every company. Taking the time to complete one form will return price quotes from all major companies. This is perfect if you don’t have a lot of time.
  • A more difficult way to compare prices requires a trip to each company website to request a price quote. For example, let’s say you want to compare GEICO, Progressive and American Family. You would need to spend time on each company’s site and punch in your information repeatedly, which is why the first method is quicker.

It doesn’t matter which method you choose, just make sure you are using equivalent quote data on every quote you get. If each company quotes unequal deductibles or liability limits it will be nearly impossible to determine the best price for your BMW 5 Series. Quoting even small variations in insurance coverages or limits could mean much higher rates. It’s important to know that quoting more provides better odds of finding more affordable rates.

Find discounts on auto insurance

Car insurance is not cheap, but you might find some hidden discounts that can help lower your rates. Some discounts apply automatically when you purchase, but occasionally some discounts must be asked for in order for you to get them.

  • Multiple Policy Discount – If you can combine your auto and homeowners policy and place coverage with the same company you may earn nearly 15% which can help you find cheap auto insurance.
  • Claim-Free Discount – Drivers who stay claim-free can save substantially when compared to accident-prone drivers.
  • Use Seat Belts – Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 15% on the medical payments or PIP coverage costs.
  • Passive Restraints – Cars that have air bags or automatic seat belts can receive discounts up to 30%.
  • Paperwork-free – A few larger online companies will give a small break get auto insurance on your computer.
  • Full Payment Discount – If you pay your entire premium ahead of time rather than paying in monthly installments you may reduce your total bill.
  • Low Miles Discount – Fewer annual miles on your BMW may allow you to get lower prices due to less chance of an accident.
  • Homeowners Pay Less – Owning your own home or condo may earn you a small savings because maintaining a house demonstrates responsibility.
  • Organization Discounts – Affiliation with qualifying clubs or civic groups could trigger savings on your next renewal.

It’s important to understand that some of the credits will not apply to the overall cost of the policy. A few only apply to individual premiums such as liability and collision coverage. So despite the fact that it appears you could get a free auto insurance policy, you won’t be that lucky.

To see auto insurance companies who offer free auto insurance quotes, enter your zip code here.

Tailor your insurance coverage coverage to you

When it comes to buying the right insurance coverage, there is no “best” method to buy coverage. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that can aid in determining if your insurance needs may require specific advice.

  • Should I sign the liability waiver when renting a car?
  • When should I remove comp and collision on my 2021 BMW 5 Series?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • What is covered by UM/UIM coverage?
  • What are the financial responsibility laws in my state?
  • Does my medical payments coverage pay my health insurance deductible?
  • Am I covered when driving in Canada or Mexico?
  • How much underlying liability do I need for an umbrella policy?

If you can’t answer these questions but a few of them apply then you might want to talk to an agent. To find an agent in your area, complete your zip code.

Insurance policy coverages for a 2021 BMW 5 Series

Having a good grasp of a insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement.

Liability insurance – Liability insurance 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, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things such as loss of income, court costs, repair costs for stationary objects and bail bonds. The amount of liability coverage you purchase is your choice, but buy as large an amount as possible.

Collision – Collision coverage will pay to fix damage to your 5 Series caused by collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as sustaining damage from a pot hole, colliding with another moving vehicle, driving through your garage door, crashing into a ditch and scraping a guard rail. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible to bring the cost down.

Protection from uninsured/underinsured drivers – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and also any damage incurred to your BMW 5 Series.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these coverages do not exceed the liability coverage limits.

Comprehensive (Other than Collision) – Comprehensive insurance pays for 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 coverage pays for claims like damage from flooding, hitting a deer, vandalism and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Medical expense insurance – Coverage for medical payments and/or PIP pay for expenses such as doctor visits, surgery, EMT expenses, rehabilitation expenses and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers being hit by a car walking across the street. PIP is only offered in select states and gives slightly broader coverage than med pay

Shop smart and save

Consumers switch companies for many reasons like not issuing a premium refund, high prices, denial of a claim and being labeled a high risk driver. It doesn’t matter why you want to switch finding a great new company can be pretty painless.

Discount 2021 BMW 5 Series insurance can be purchased from both online companies as well as from insurance agents, and you should compare rates from both to have the best rate selection. Some companies do not offer price quotes online and these smaller companies sell through independent agents.

We’ve covered some good ideas how you can reduce 2021 BMW 5 Series insurance premium rates online. The key thing to remember is the more rate quotes you have, the better your chances of lowering your prices. You may even find the most savings is with a smaller regional carrier.

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