2019 BMW 5 Series Car Insurance Cost in 2024 – 8 Discounts for Best Prices

Want cheaper insurance rates for your BMW 5 Series? Trying to find cheaper insurance for a BMW 5 Series can be an all-consuming task, but you can follow our insurance buying tips to make it easier. There is a right way and a wrong way to buy insurance and you need to know the proper way to quote coverages for your BMW and obtain the best price possible.

Smart consumers take time to get comparison quotes before your policy renews since insurance rates are constantly changing. Just because you found the lowest rate for 5 Series insurance a few years ago you can probably find a lower rate today. You can find a lot of information about insurance online but in just a couple of minutes you can learn a lot of great tips on how to lower your insurance premiums.

Are you receiving every discount?

Car insurance is not cheap nor is it fun to buy but you may find discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time you complete a quote, but a few must be specifically requested prior to receiving the credit.

• Military Rewards – Having an actively deployed family member could mean lower premium rates.
• Theft Deterrent Discount – Cars optioned with advanced anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
• Federal Government Employee – Simply working for the federal government may reduce rates when you quote insurance coverage for 5 Series insurance with some car insurance companies.
• Good Drivers – Accident-free drivers may save up to 50% more for 5 Series insurance than drivers with accidents.
• ABS Brakes – Cars and trucks that have steering control and anti-lock brakes can reduce accidents and the ABS can save up to 10%.
• Drivers Education – Cut your cost by having your teen driver enroll and complete driver’s education in school or through a local driver safety program.
• Life Insurance – If the company offers life insurance, you could get a discounted premium rate on car insurance if you buy a life insurance policy as well.
• Senior Citizen Discount – Mature drivers could receive a slight reduction on a insurance coverage quote for 5 Series insurance.

As a footnote on discounts, most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like liability, collision or medical payments. Just because it seems like you could get a free car insurance policy, it’s just not the way it works. Any qualifying discounts will help reduce your policy premiums.

If you would like to choose from a list of providers that offer some of these discounts, enter your zip code here.

When in doubt talk to an agent

When choosing the best car insurance coverage for your personal vehicles, there is no cookie cutter policy. Every situation is different.

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

• What is high-risk coverage and where do I buy it?
• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Does my car insurance cover rental cars?
• Is business equipment covered while in my vehicle?
• Will my vehicle be repaired with OEM or aftermarket parts?
• Is other people’s property covered if stolen from my vehicle?
• Is pleasure use cheaper than using my 2019 BMW 5 Series to commute?
• Does my policy cover me when driving someone else’s vehicle?
• Why does it cost so much to insure a teen driver?

If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find an agent in your area, complete your zip code. It is quick, free and you can get the answers you need.

Insurance coverage breakdown

Understanding the coverages of your policy helps when choosing the best coverages and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy.

Liability coverage – Liability insurance protects you from injuries or damage you cause to other people or property in an accident. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.

Liability can pay for things such as court costs, emergency aid, medical expenses, medical services and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but you should buy as much as you can afford.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like ambulance fees, rehabilitation expenses and doctor visits. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Collision coverages – This coverage will pay to fix damage to your 5 Series resulting from colliding with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as rolling your car, scraping a guard rail, colliding with another moving vehicle, hitting a parking meter and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage provides protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your 2019 BMW 5 Series.

Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Comprehensive insurance – This pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like hitting a bird, damage from a tornado or hurricane, a tree branch falling on your vehicle and fire damage. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Never pay more for less

You just read a lot of information how to compare 2019 BMW 5 Series insurance rates online. The key thing to remember is the more times you quote, the better your comparison will be. Consumers could even find that the best rates are with the smaller companies.

Drivers switch companies for any number of reasons including high prices, delays in paying claims, policy non-renewal and even extreme rates for teen drivers. It doesn’t matter what your reason, choosing a new insurance company is pretty simple and you could end up saving a buck or two.

As you shop your coverage around, do not skimp on coverage in order to save money. In many instances, someone dropped collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. The proper strategy is to get the best coverage possible for the lowest cost while not skimping on critical coverages.