Cheaper 2019 BMW X5 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 27, 2024

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Searching for the cheapest insurance for a BMW X5 could be a painful process, but you can follow a few tricks to make it easier. There is a right way and a wrong way to compare auto insurance rates so we’re going to tell you the absolute fastest way to price shop coverage for a new or used BMW and get the best price possible.

It is always a good idea to get comparison quotes once or twice a year because auto insurance rates are rarely the same from one policy term to another. Despite the fact that you may have had the lowest rate for X5 coverage at your last renewal you will most likely find a better price today. You can find a lot of wrong information about auto insurance on the internet, but in a few minutes you can learn some of the best ways to buy auto insurance cheaper.

First Step: Get free car insurance quotes

Cutting your car insurance rates can be relatively painless. You just have to take the time comparing price quotes from some recommended companies. It’s really simple and can be done by using one of the methods below.

Probably the best way to compare a lot of rates at once is to use a rate comparison form. This quick form saves time by eliminating boring form submissions for every car insurance company. One simple form gets prices estimates from car insurance companies with the best prices. Recommended for those who want to invest the least amount of time.

A harder way to find lower rates requires a trip to each company’s website to request a price quote. For instance, we’ll pretend you want to view quotes from Progressive, GEICO and Travelers. To get rate quotes you would need to navigate to each company’s site and enter your policy data, which explains why we recommend starting with the first method.

However you get your quotes, make sure you compare apples-to-apples quote information with every price quote. If your comparisons have different data you will not be able to determine which rate is truly the best.

Good decisions result in lower insurance rates

Part of the auto insurance buying process is learning a few of the rating criteria that go into determining your auto insurance rates. When consumers understand what impacts premium levels, this enables you to make decisions that can earn you lower auto insurance prices.

The following are some of the most rate-impacting factors companies use to determine your prices.

  • More annual miles equals more premium – The higher the mileage driven in a year’s time the higher your rate. Almost all companies price each vehicle’s coverage based upon how the vehicle is primarily used. Cars and trucks that sit idle most of the time cost less to insure as compared to vehicles used primarily for driving to work. A policy that improperly rates your X5 may be wasting your money. It’s a good idea to make sure your auto insurance declarations sheet states annual mileage, because improper ratings can cost you money.
  • Eliminate incidental coverages – There are quite a few extra bells and whistles that may not really be needed on your auto insurance policy. Coverage for things like personal injury protection, accidental death, and term life insurance are examples of these. The coverages may be enticing initially, but if they’re wasting money think about removing them and cutting costs.
  • Does insurance coverage cost less for females? – Over time, data shows women are more cautious behind the wheel. Now that doesn’t mean men are worse drivers. They both have accidents at about the same rate, but the men get into accidents with more damage. Not only that, but men also get higher numbers of serious violations like driving under the influence (DUI).
  • Never go without auto insurance – Driving without insurance is illegal and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. Not only will you pay higher rates, being ticketed for driving with no insurance can result in a fine, jail time, or a revoked license.
  • Safer cars cost less to insure – Safer cars tend to have better insurance rates. Vehicles built for safety reduce the chance of injuries and any reduction in injury severity translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your BMW earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.

Are you receiving every discount?

Insurance is neither fun to buy or cheap, but there are discounts available to reduce the price significantly. Most are applied at the time of purchase, but some must be requested specifically before they will apply.

  • Clubs and Organizations – Affiliation with a professional or civic organization may earn a discount on insurance.
  • No Accidents – Drivers who don’t have accidents can earn big discounts when compared to bad drivers.
  • Good Grades Discount – Performing well in school may save as much as 25% on a auto insurance quote. The discount lasts up until you turn 25.
  • Low Mileage – Maintaining low annual mileage may enable drivers to earn substantially lower prices.
  • Save with a New Car – Putting insurance coverage on a new car can cost up to 25% less since new model year vehicles have better safety ratings.
  • Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can avoid the installment charge.

It’s important to note that many deductions do not apply to the whole policy. Most only apply to individual premiums such as comprehensive or collision. Even though the math looks like all the discounts add up to a free policy, it’s just not the way it works.

Some companies who may offer these money-saving discounts may include but are not limited to:

  • Travelers
  • Nationwide
  • Farmers Insurance
  • Esurance
  • State Farm
  • Progressive
  • Mercury Insurance

It’s a good idea to ask every insurance company what discounts are available to you. Depending on the company, some discounts may not apply to policyholders in your area. To see a list of insurance companies that provide some of the discounts listed above, enter your zip code here.

When in doubt talk to an agent

When buying adequate coverage for your vehicles, there isn’t really a cookie cutter policy. Everyone’s needs are different.

These are some specific questions can aid in determining if you would benefit from an agent’s advice.

  • Is pleasure use cheaper than using my 2019 BMW X5 to commute?
  • When should I buy a commercial auto policy?
  • Am I getting all the discounts available?
  • Does my insurance cover a custom paint job?
  • Are rental cars covered under my policy?
  • Should I rate my 2019 BMW X5 as pleasure use or commute?
  • Can my babysitter drive my car?
  • Does coverage extend to my business vehicle?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete your zip code. It only takes a few minutes and you can get the answers you need.

Car insurance 101

Having a good grasp of your policy can help you determine the right coverages at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and nobody wants to actually read their policy.

Medical payments and PIP coverage – Med pay and PIP coverage reimburse you for expenses like nursing services, funeral costs, X-ray expenses, prosthetic devices and hospital visits. They can be used to fill the gap from your health insurance program or if you do not have health coverage. It covers all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Collision – Collision insurance pays to fix your vehicle from damage resulting from a 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 can pay for claims like backing into a parked car, hitting a mailbox, hitting a parking meter and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also increase the deductible to save money on collision insurance.

Comprehensive auto coverage – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like hitting a deer, rock chips in glass and damage from getting keyed. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Liability auto insurance – Liability coverage can cover damage that occurs to other people or property in an accident. This insurance protects YOU from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.

Liability coverage protects against things such as attorney fees, bail bonds, pain and suffering, legal defense fees and medical expenses. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and damage to your BMW X5.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Shop. Compare. Save.

Consumers who switch companies do it for a number of reasons such as high prices, high rates after DUI convictions, delays in paying claims and even an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a new company can be pretty painless.

More affordable auto insurance can be bought online and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies do not offer online price quotes and these small, regional companies only sell coverage through independent agencies.

When trying to cut insurance costs, make sure you don’t buy poor coverage just to save money. There have been many situations where an insured cut physical damage coverage and found out when filing a claim that the savings was not a smart move. The ultimate goal is to purchase a proper amount of coverage at the lowest possible cost and still be able to protect your assets.

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