2001 BMW X5 Insurance Rates – 10 Tips for Cheaper Quotes

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 12, 2022

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Trying to find the cheapest insurance rates for your BMW X5? Are you sick and tired of trying to scrape together enough money to insure your BMW every month? You’re in the same situation as many other drivers. Many insurers vie to insure your vehicles, so it can be very hard to choose a insurer to get the best rates possible.

If you have a current auto insurance policy or need a new policy, you can use this information to find better prices and possibly find even better coverage. Choosing the best insurance company for you is not that difficult. Drivers only need to know the proper way to get comparison quotes over the internet.

How to Get Auto Insurance Comparison Quotes

Performing a rate comparison can be exhausting if you don’t utilize the fastest way to get free quotes. You could spend the better part of a day discussing policy coverages with insurance companies in your area, or you could save time and use the internet for quick rates.

Most major companies participate in a marketplace that allows shoppers to complete one form, and each participating company returns a competitive quote determined by their information. This system prevents you from having to do quote forms for each company.

To access this free quoting program, click to open in new window.

The one downside to comparing rates this way is you cannot specify which companies to receive prices from. So if you prefer to choose from a list of companies to compare, we have a listing of auto insurance companies in your area. Click to view list.

Whichever method you choose, be sure to compare the exact same deductibles and coverage limits for each price quote. If the quotes have higher or lower deductibles it’s impossible to determine the best price for your BMW X5.

Policy discounts you shouldn’t miss

Companies don’t always list all available discounts in an easy-to-find place, so we researched some of the more common and also the lesser-known savings tricks you should be using. If they aren’t giving you every credit possible, you’re just leaving money on the table.

  • Accident Waiver – Certain companies will allow you to have one accident without raising rates so long as you haven’t had any claims for a particular time prior to the accident.
  • Fewer Miles Equal More Savings – Fewer annual miles on your BMW can earn better rates on cars that stay parked.
  • Good Student Discount – This discount can get you a discount of up to 25%. This discount can apply up to age 25.
  • Club Memberships – Belonging to a civic or occupational organization may earn a discount on your policy for X5 coverage.
  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less for X5 coverage than drivers with accident claims.
  • Drivers Education – Require your teen driver to take driver’s ed class in school.
  • Early Signing – A few companies offer discounts for signing up before your current policy expires. This can save 10% or more.
  • Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you may reduce your total bill.
  • Anti-lock Brakes – Vehicles with anti-lock braking systems can reduce accidents and therefore earn up to a 10% discount.
  • Resident Student – Any of your kids who attend school more than 100 miles from home and do not have access to a covered vehicle can receive lower rates.

Drivers should understand that some credits don’t apply the whole policy. Most only cut the cost of specific coverages such as comp or med pay. So even though they make it sound like adding up those discounts means a free policy, you’re out of luck.

For a list of insurers with the best insurance coverage discounts, follow this link.

Insurance agents can help

When it comes to choosing coverage, there really is no single plan that fits everyone. Each situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that can aid in determining if your insurance needs would benefit from professional advice.

  • What are the best liability limits?
  • Exactly who is provided coverage by my policy?
  • Where can I find DUI or SR-22 insurance?
  • Why do I need rental car insurance?
  • Can I get a multi-policy discount?
  • Do I have coverage when using my vehicle for my home business?

If it’s difficult to answer those questions then you might want to talk to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier It only takes a few minutes and can help protect your family.

What insurance coverages do you need?

Knowing the specifics of your insurance policy helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages found on most insurance policies.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills for pain medications, EMT expenses, ambulance fees, hospital visits and doctor visits. They are often used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to you and your occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Auto liability insurance

This coverage protects you from damage or injury you incur to a person or their property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 100/300/100 that translate to a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged property.

Liability can pay for claims like loss of income, repair bills for other people’s vehicles, attorney fees and structural damage. The amount of liability coverage you purchase is a personal decision, but you should buy as large an amount as possible.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your BMW X5.

Because many people only carry the minimum required liability 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.

Collision coverage

This pays for damage to your X5 caused by collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims such as hitting a mailbox, hitting a parking meter and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Comprehensive or Other Than Collision

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like damage from flooding, hitting a deer, falling objects, vandalism and damage from getting keyed. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Affordable insurance is out there

When trying to cut insurance costs, make sure you don’t reduce needed coverages to save money. There are too many instances where an insured dropped collision coverage only to discover later that it was a big error on their part. The proper strategy is to buy a smart amount of coverage at a price you can afford.

Cheap 2001 BMW X5 insurance is possible online and also from your neighborhood agents, and you need to price shop both in order to have the best chance of saving money. A few companies may not provide online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

Additional detailed information is located in these articles:

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