2012 BMW 5 Series Car Insurance Quotes in 2024 – 8 Ideas for Cheaper Rates

Want lower car insurance rates for your BMW 5 Series? If you’re trying to find lower-cost insurance online, are you confused by the sheer number of car insurance sources? There are so many sources to choose from that it can be a challenge to find the best car insurance rates.

If you currently have car insurance, you stand a good chance to be able to reduce your rates substantially using these techniques. Shopping for affordable coverage is not that difficult. But drivers must know the methods companies use to price insurance differently and apply this information to your search.

Compare free insurance coverage rate quotes

Effectively comparing insurance coverage prices can be a lot of work if you don’t understand the best way to get rate quotes. You could waste a few hours talking about coverages with insurance agencies in your area, or you could save time and use online quotes to get rates in a matter of minutes.

Many companies enroll in a system where insurance shoppers only type in their quote data once, and every company then gives them pricing. This system prevents you from having to do quote forms to each individual insurance coverage company.

To use this form to compare rates enter your zip code here.

The one downside to pricing coverage this way is you are unable to specify which insurance companies you will receive quotes from. If you wish to select individual companies to compare, we have a listing of insurance coverage companies in your area. Click to enter zip code for insurance companies.

However you get your quotes, ensure you are comparing apples-to-apples quote information for every company. If each company quotes unequal deductibles or liability limits you will not be able to truly determine the lowest rate. Slightly different insurance coverages can make a big difference in price. Just remember that having more price comparisons will increase your chances of finding the best offered rates.

Insurance advertising gotchas

Insurance providers like State Farm, Allstate and GEICO consistently run television and radio advertisements. They all seem to say the same thing about savings just by moving to them. How does every insurance company sell you cheaper insurance coverage? It’s all in the wording.

Insurance companies can use profiling for the type of customer that will add to their bottom line. An example of this type of risk profile might have to be between the ages of 30 and 50, is a homeowner, and drives a safe vehicle. Anyone that fits those parameters will qualify for the lowest rates and therefore will save money with a new company.

People who may not quite match these stringent criteria may receive more expensive rates and this can result in the driver buying from a lower-cost company. The wording the ads use say “drivers that switch” but not “everyone who gets a quote” save that much money. That’s the way companies can make it sound like they have such great car insurance rates.

This illustrates why it’s extremely important to compare many company’s car insurance rates. It is just not possible to predict which insurance company will have the lowest rates for your situation.

Insurance policy discounts you can’t miss

Insurance can cost an arm and a leg, but you might already qualify for some discounts that you may not even know about. Many of these discounts will be applied automatically at the time of quoting, but some must be asked for in order for you to get them.

• Accident Free – Drivers who stay claim-free have much lower rates in comparison to frequent claim filers.
• Save over 55 – Mature drivers may be able to get reduced rates on 5 Series coverage.
• Multiple Vehicles – Insuring primary and secondary vehicles on a single policy can get a discount on all vehicles.
• Passive Restraints and Air Bags – Vehicles with factory air bags or automatic seat belts can receive discounts of up to 25% or more.
• Seat Belts Save more than Lives – Forcing all vehicle occupants to wear their seat belts may be able to save a few bucks on the medical payments or PIP coverage costs.
• Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education if it’s offered in school.
• Early Payment Discounts – By paying your policy upfront instead of making monthly payments you can avoid monthly service charges.
• Telematics Devices – Policyholders that allow driving data collection to study when and where they use their vehicle remotely like In-Drive from State Farm and Progressive’s Snapshot could see a rate decrease as long as the data is positive.

You can save money using discounts, but many deductions do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like adding up those discounts means a free policy, it doesn’t quite work that way.

To view providers with discount insurance rates, enter your zip code here.

Insurance agents can help

When buying adequate coverage for your personal vehicles, there is no perfect coverage plan. Each situation is unique.

For example, these questions could help you determine if you could use an agent’s help.

• When do I need to add a new car to my policy?
• What is high-risk coverage and where do I buy it?
• Do I need higher collision deductibles?
• Is a fancy paint job covered?
• Is my 2012 BMW 5 Series covered for smoke damage?
• Should I waive the damage coverage when renting a car?
• Should I sign the liability waiver when renting a car?
• Am I covered if my car is in a flood?
• Should I buy only the required minimum liability coverage?
• Should I have combined single limit or split liability limits?

If it’s difficult to answer those questions, then you may want to think about talking to a licensed agent. To find an agent in your area, complete your zip code.

Auto insurance coverage options for a BMW 5 Series

Understanding the coverages of your auto insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring.

Comprehensive auto coverage

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like hail damage, vandalism, falling objects and hitting a bird. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for X-ray expenses, EMT expenses, prosthetic devices, ambulance fees and dental work. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. They cover both the driver and occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as damage to your BMW 5 Series.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Frequently these limits are similar to your liability insurance amounts.

Collision insurance

This coverage pays for damage to your 5 Series caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as backing into a parked car, crashing into a building, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Liability coverage

This can cover injuries or damage you cause to other’s property or people. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 100/300/100 that means you have $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged property. Some companies may use a combined single limit or CSL which provides one coverage limit and claims can be made without the split limit restrictions.

Liability can pay for claims such as emergency aid, bail bonds and funeral expenses. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Save for a rainy day

Cheaper 2012 BMW 5 Series insurance is possible both online and also from your neighborhood agents, so get free auto insurance quotes from both of them to get a complete price analysis. Some insurance providers may not have price quotes online and usually these small insurance companies work with independent insurance agencies.

We’ve covered a lot of tips how to save on 2012 BMW 5 Series insurance. The most important thing to understand is the more times you quote, the better likelihood of getting cheap auto insurance. Consumers may even find the lowest prices come from an unexpected company.

When searching for cheap auto insurance quotes, don’t be tempted to reduce coverage to reduce premium. In many cases, drivers have reduced full coverage only to discover later that the few dollars in savings costed them thousands. Your objective should be to find the BEST coverage at the best cost and still be able to protect your assets.