Want to learn how to buy more affordable BMW X5 insurance in San Diego? Being forced to pay for high-priced car insurance premiums can deplete your bank account and put the squeeze on your family’s finances. Comparing rates annually is an excellent way to cut your insurance bill.
Unimaginable but true, a large majority of consumers kept their coverage with the same car insurance company for four years or more, and about 40% of consumers have never quoted rates to find affordable coverage. American drivers can save nearly 47% each year by just shopping around, but most undervalue the amount of money they would save if they switch to a new company. Consumers have so many insurers to pick from, and although it’s a good thing to have multiple companies, more choices can make it harder to find a good deal for BMW X5 insurance in San Diego.
Save money on BMW X5 insurance in San Diego with these insurance discounts
Insurance can be prohibitively expensive, but you may find discounts that many consumers don’t even know exist. Some of these discounts will be visible when you complete an application, but some must be inquired about prior to getting the savings. If you do not double check each discount you deserve, you could be paying more than you need to.
- Active Service Discounts – Being deployed in the military may qualify for rate reductions.
- ABS Braking Discount – Anti-lock brake equipped vehicles have fewer accidents so you can save 10 percent or more.
- Defensive Driver Discount – Participating in a safe driver course could cut 5% off your bill if you qualify.
- Auto/Life Discount – Select insurance companies reward you with a lower rate if you buy life insurance from them.
- Multiple Cars – Buying coverage for more than one vehicle with one company can get a discount for every vehicle.
- Early Signing – A few companies allow discounts for signing up before your current X5 insurance policy expires. It’s a savings of about 10%.
- Drivers Ed for Students – Teen drivers should take driver’s ed class as it can save substantially.
- Discounts for New Vehicles – Buying insurance coverage on a new vehicle can cost up to 25% less due to better safety requirements for newer models.
Don’t be surprised that some of the credits will not apply to the entire policy premium. Most only apply to the cost of specific coverages such as liability and collision coverage. So even though it sounds like you can get free auto insurance, it just doesn’t work that way. Any qualifying discounts will help lower your premiums.
A list of insurance companies and some of the discounts are outlined below.
- Mercury Insurance policyholders can earn discounts including accident-free, good driver, anti-theft, multi-policy, location of vehicle, type of vehicle, and age of vehicle.
- Farmers Insurance offers discounts for multi-car, alternative fuel, teen driver, bundle discounts, youthful driver, and switch companies.
- Farm Bureau offers discounts including renewal discount, multi-policy, multi-vehicle, good student, 55 and retired, driver training, and youthful driver.
- State Farm discounts include Steer Clear safe driver discount, safe vehicle, multiple policy, anti-theft, and Drive Safe & Save.
- Allstate has discounts for premier plus, safe driver, new car, anti-theft, early signing, senior citizen, and passive restraint.
- GEICO has savings for military active duty, multi-vehicle, defensive driver, driver training, and five-year accident-free.
Before buying, ask each company to give you their best rates. Depending on the company, some discounts might not be available to policyholders everywhere. To view providers that provide some of the discounts listed above in California, click here to view.
The quickest method to compare car insurance company rates for BMW X5 insurance in San Diego is to realize most of the larger companies participate in a system to compare their rates. The only thing you need to do is provide details such as how much coverage you want, if you have an active license, whether you drive to work or school, and daily mileage. Your insurance information is instantly provided to many highly-rated insurers and they return quotes with very little delay.
To check BMW X5 insurance prices now, click here then complete the form.
The companies shown below can provide price comparisons in San Diego, CA. If several companies are displayed, it’s highly recommended you visit two to three different companies in order to find the most competitive rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|X5 3.0I AWD||$546||$810||$578||$34||$174||$2,142||$179|
|X5 3.5D AWD||$370||$664||$424||$26||$126||$1,610||$134|
|X5 4.8I AWD||$528||$932||$442||$26||$132||$2,060||$172|
|X5 M AWD||$640||$986||$578||$34||$174||$2,412||$201|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Estimates do not factor in zip code location which can modify insurance rates substantially.
How accidents and tickets impact rates in San Diego
The chart below demonstrates how citations and accidents raise BMW X5 premium costs for different age groups of insureds. The premium estimates are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
Cost of full coverage
The chart below examines BMW X5 insurance costs when comparing full coverage to liability only. The rates are based on a clean driving record, no claims, $250 deductibles, single female driver, and no discounts are taken into consideration.
When to stop buying physical damage coverage
There is no definitive guideline that is best for determining when to drop physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your BMW X5 settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $8,000 after you pay the deductible. If you are paying in excess of $800 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where dropping physical damage coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Smart Buyers Can Lower Insurance Rates
When buying insurance it’s important to understand the different types of things that aid in calculating your policy premiums. When you know what positively or negatively controls the rates you pay, this enables informed choices that could result in better insurance rates. Lots of things are considered when you get a price on insurance. Some are pretty understandable such as your driving history, although others are less obvious such as whether you are married or how safe your car is.
The itemized list below are some of the most rate-impacting factors insurance companies consider when setting rates.
- Single drivers may get higher prices – Being married may earn you lower rates on your policy. It translates into being more mature and responsible it has been statistically shown that drivers who are married file infrequent claims.
- Car plus home equals more savings – Most larger insurers afford better rates to policyholders that purchase more than one policy. It’s known as a multi-policy discount. The amount of the discounts can be ten or even up to twenty percent in some cases. Even if you qualify for this discount already, it’s always a smart idea to get quotes from other companies to guarantee you are still saving the most. You may still be able to save more without the discount by buying insurance from more than one company.
- How much liability protection – A critical coverage on your policy, liability insurance is the protection if you are found liable for personal injury or accident damage. It provides legal defense to defend your case. This coverage is very inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
- Never go without insurance – Having an insurance coverage lapse can be a fast way to bump up your insurance costs. Not only will you pay higher rates, failure to provide proof of insurance could result in a revoked license or a big fine. You may have to submit proof of financial responsibility or a SR-22 with the California DMV.
- Lower stress equals lower rates – Careers like military generals, airline pilots, and dentists are shown to have higher premium rates attributed to intense work requirements and extremely grueling work hours. On the flip side, jobs like scientists, athletes and the unemployed have lower than average premiums.
- Insurance loss data for BMW X5 vehicles – Car insurance companies use claims history when setting premium rates. Models that the data determines to have a higher amount or frequency of claims will cost more for specific coverages. The next table shows the historical loss data for BMW X5 vehicles.
For each insurance policy coverage type, the loss probability for all vehicles averaged together is represented as 100. Values that are below 100 suggest a better than average loss history, while numbers that are greater than 100 indicate a higher chance of having a claim or statistically larger losses.
BMW X5 Insurance Loss Statistics
Specific BMW Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW X5 4dr 2WD 131 110 153 BMW X5 4dr 4WD 126 81 164 65 57 67
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
When to talk to an agent
Many people just want to buy from a licensed agent and that can be a great decision Most agents can make sure you are properly covered and help file insurance claims. A nice benefit of price shopping on the web is you may find cheap rate quotes and still have an agent to talk to.
Upon completion of this quick form, your insurance coverage information is transmitted to participating agents in San Diego that can give you free San Diego auto insurance quotes for your car insurance coverage. There is no reason to contact an agency as quotes are delivered immediately to you. If for some reason you want to compare rates from one company in particular, don’t hesitate to navigate to their website and submit a quote form there.
Finding a good provider requires you to look at more than just the bottom line cost. You should also get answers to these questions.
- Do they offer rental car reimbursement?
- Does the agency have a positive business rating?
- Does the company use OEM repair parts?
- Do they have cheaper tiers of coverage?
- Do they review policy coverages at every renewal?
- Is vehicle mileage a factor when determining depreciation for repairs?
Below is a short list of insurers in San Diego that may be willing to give price quotes for BMW X5 insurance in San Diego.
Steve Elder – State Farm Insurance Agent
9225 Mira Mesa Blvd #208d – San Diego, CA 92126 – (858) 271-8928 – View Map
Auto insurance just makes sense
Despite the high insurance cost for a BMW X5 in San Diego, auto insurance serves a purpose in several ways.
- The majority of states have mandatory liability insurance requirements which means the state requires specific limits of liability protection in order to get the vehicle licensed. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you bought your BMW with a loan, more than likely the lender will make it a condition of the loan that you have insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank will be required to insure your BMW for a lot more money and require you to fork over for the much more expensive policy.
- Insurance safeguards not only your BMW but also your financial assets. It will also provide coverage for medical transport and hospital expenses that are the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are named as a defendant in an auto accident. If your BMW gets damaged, your policy will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance greatly outweigh the cost, specifically if you ever have a liability claim. As of last year, the average driver in California is overpaying over $750 every year so you should quote rates once a year at a minimum to make sure the price is not too high.
Don’t give up on affordable rates
Lower-priced insurance in San Diego is definitely available on the web and also from your neighborhood San Diego agents, so you should compare both to have the best selection. There are still a few companies who may not provide online price quotes and these small, regional companies only sell coverage through independent agencies.
When buying insurance coverage, make sure you don’t buy lower coverage limits just to save a few bucks. There have been many situations where an insured cut liability coverage limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The goal is to buy enough coverage at an affordable rate while not skimping on critical coverages.
Helpful learning opportunities
- Understanding Your Insurance Deductible (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers with a DUI in San Diego? (FAQ)
- Who Has Affordable Auto Insurance for a Dodge Ram in San Diego? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Teenage Males in San Diego? (FAQ)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- How to shop for a safer car (Insurance Institute for Highway Safety)