How Much Does 2013 BMW 5 Series Car Insurance Cost?

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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: Aug 24, 2022

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Having to pay for overpriced insurance can empty your savings account and make it hard to pay other bills. Doing a price comparison is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income. You have multiple auto insurance companies to pick from, and although it’s a good thing to have multiple companies, too many choices makes it more difficult to compare rates.

Shopping for cheaper coverage is easy if you know what you’re doing. If you have a policy now or are looking for a new policy, you can learn to shop for the lowest rates and possibly find even better coverage. Drivers only need to know the best way to compare prices online.

Which Car Insurance is Cheapest?

Lowering your 2013 BMW 5 Series car insurance rates is a fairly straight forward process. All that’s required is to spend a few minutes getting comparison quotes online from several insurance companies. It is quite easy and can be accomplished in a couple of different ways.

  1. The easiest and least time consuming way consumers can make multiple comparisons is a comparison rater form click to view form in new window. This type of form eliminates the need for boring form submissions to each individual car insurance company. A single, simple form will return quotes from all major companies.
  2. A more difficult way to analyze rates is to manually visit the website for every company you want to comare and fill out their own quote form. For examples sake, we’ll assume you want to compare Nationwide, GEICO and Travelers. To get rate quotes you would need to visit each site to enter your coverage information, which is why most consumers use the first method. For a handy list of car insurance company links in your area, click here.

Whichever method you choose, make darn sure you compare identical coverages for each comparison quote. If you have unequal deductibles or liability limits it’s impossible to truly determine the lowest rate.

Do drivers who switch really save?

Consumers can’t ignore all the ads for the lowest price auto insurance by companies like State Farm, GEICO and Progressive. All the companies have a common claim of big savings if you change to them.

How do they all claim to save you money?

All companies have a certain “appetite” for the type of driver that is profitable for them. For instance, a preferred risk might be profiled as over the age of 50, is a homeowner, and has excellent credit. Any driver who matches those parameters receives the best rates and most likely will save a lot of money.

Potential insureds who don’t meet the requirements will be charged higher premiums which leads to business not being written. Company advertisements say “people who switch” not “people who quote” save that much. That’s why companies can claim big savings.

That is why it’s extremely important to compare as many rates as you can. You cannot predict which insurance companies will fit your personal profile best.

Save on 2013 BMW 5 Series insurance

Insurance can cost an arm and a leg, but there could be available discounts to reduce the price significantly. Some trigger automatically at the time of quoting, but a few must be manually applied prior to receiving the credit. If you don’t get every credit you qualify for, you’re paying more than you need to.

  • Drivers Education – Have your child complete a driver education course in high school.
  • Federal Government Employee – Simply working for the federal government may qualify you for a discount for 5 Series insurance with a few car insurance companies.
  • Early Switch Discount – Some companies give discounts for buying a policy prior to your current policy expiring. It’s a savings of about 10%.
  • Save with a New Car – Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
  • Student in College – Kids in college who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.

A little note about advertised discounts, some of the credits will not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, it just doesn’t work that way. Any qualifying discounts will help reduce your premiums.

Companies that possibly offer these money-saving discounts include:

It’s a good idea to ask each insurance company which discounts they offer. Some discounts might not be offered in your area.

Tailor your coverage to you

When buying the right insurance coverage, there really is no perfect coverage plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions can aid in determining if your situation might need an agent’s assistance.

  • Does my liability insurance cover pulling a trailer or camper?
  • How much can I save by bundling my policies?
  • Do I need PIP coverage since I have good health insurance?
  • Am I covered when using my vehicle for business?
  • Do I need roadside assistance coverage?
  • Where can I find DUI or SR-22 insurance?
  • I have a DUI can I still get coverage?
  • Does coverage extend to my business vehicle?
  • How many claims can I have before being canceled?
  • Should I buy only the required minimum liability coverage?

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If you’re not sure about those questions then you might want to talk to an agent. To find an agent in your area, take a second and complete this form or click here for a list of car insurance companies in your area. It’s fast, free and can help protect your family.

Car insurance coverages explained

Knowing the specifics of your car insurance policy can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are typical coverages found on the average car insurance policy.

UM/UIM Coverage

This protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Comprehensive or Other Than Collision

This pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like hail damage, damage from a tornado or hurricane, hitting a deer and hitting a bird. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability

This coverage can cover damage that occurs to people or other property in an accident. It protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 25/50/25 that means you have a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged property. Some companies may use a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things like court costs, emergency aid and medical services. How much liability coverage do you need? That is your choice, but consider buying higher limits if possible.

Collision protection

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

Collision coverage pays for claims like driving through your garage door, crashing into a building and colliding with a tree. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Another option is to increase the deductible to bring the cost down.

Medical costs insurance

Medical payments and Personal Injury Protection insurance kick in for expenses like surgery, prosthetic devices and nursing services. They are used to fill the gap from your health insurance plan or if you are not covered by health insurance. They cover both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Shop smart and save

You just learned a lot of tips how to save on 2013 BMW 5 Series insurance. It’s most important to understand that the more you quote, the better your comparison will be. Consumers could even find that the best prices are with an unexpected company. Regional companies often have lower prices on specific markets compared to the large companies like State Farm and Allstate.

Affordable insurance can be purchased from both online companies and also from your neighborhood agents, so compare prices from both in order to have the best chance of saving money. Some insurance companies may not provide online quoting and usually these small, regional companies provide coverage only through local independent agents.

Additional detailed information is located in these articles:

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