Cheap Quotes for BMW X5 Insurance in Baltimore

Insurance for BMW X5It takes a few minutes, but the best way to find cheaper quotes for auto insurance rates in Baltimore is to compare prices annually from providers in Maryland. Rate comparisons can be done by following these steps.

Step 1: Learn about coverages and the things you can change to lower rates. Many factors that cause rate increases such as speeding and a negative credit rating can be improved by making minor changes in your lifestyle.

Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like GEICO or State Farm, while independent agencies can provide rate quotes from multiple companies.

Step 3: Compare the new rate quotes to your current policy and see if there is a cheaper rate. If you find better rates and buy the policy, verify that coverage does not lapse between policies.

Step 4: Notify your agent or company to cancel your current policy and submit payment along with a signed and completed policy application to your new insurance company. Don’t forget to keep your new proof of insurance paperwork in your glove compartment.

One important bit of advice is to try to compare the same deductibles and limits on each quote and and to get rate quotes from as many carriers as you can. This enables a level playing field and plenty of rates choose from.

Unbelievable but true according to a study most car insurance policyholders kept their policy with the same company for well over three years, and practically 40% of car insurance customers have never even compared rates from other companies. With the average car insurance premium being $1,490, Baltimore drivers could save almost $750 each year by just comparing rate quotes, but they don’t want to spend time to do a rate comparison.

If you are insured now or are looking for a new policy, use these money-saving tips to shop for the lowest rates while maintaining coverages. Shopping for the lowest cost car insurance policy in Baltimore is not as difficult as people think. Vehicle owners just need to use how to compare rates from many companies at once.

Insurance statistics for a BMW X5

The data table displayed next showcases a range of insurance costs for BMW X5 models. Learning a little about how auto insurance prices are formulated can assist in making decisions when choosing a new policy provider.

BMW X5 Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $270 $482 $548 $32 $164 $1,496 $125
X5 3.5D AWD $298 $554 $548 $32 $164 $1,596 $133
X5 4.8I AWD $298 $554 $548 $32 $164 $1,596 $133
X5 M AWD $354 $700 $548 $32 $164 $1,798 $150
Get Your Own Custom Quote Go

Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Information does not factor in garaging location in Baltimore which can decrease or increase rates considerably.

Choosing deductibles

One of the more difficult decisions when buying insurance is how high should the physical damage deductibles be. The premium rates below may aid in understanding the differences in price when you choose different physical damage coverage deductibles. The first table uses a $100 comprehensive and collision deductible and the second price table uses a $1,000 deductible.

BMW X5 insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $440 $744 $406 $24 $122 $1,761 $147
X5 3.5D AWD $484 $856 $406 $24 $122 $1,917 $160
X5 4.8I AWD $484 $856 $406 $24 $122 $1,917 $160
X5 M AWD $574 $1082 $406 $24 $122 $2,233 $186
Get Your Own Custom Quote Go

BMW X5 insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $244 $392 $406 $24 $122 $1,188 $99
X5 3.5D AWD $268 $452 $406 $24 $122 $1,272 $106
X5 4.8I AWD $268 $452 $406 $24 $122 $1,272 $106
X5 M AWD $318 $570 $406 $24 $122 $1,440 $120
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Prices do not factor in zip code location which can alter premium rates greatly.

Using the data above, we can ascertain that using a $100 deductible will cost you about $55 more each month or $660 each year than buying the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go more than 16 months between claims, you would come out ahead if you choose the higher deductible.

The information below demonstrates how deductibles and can raise or lower BMW X5 annual premium costs for different categories of driver ages. The costs are based on a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.

BMW X5 insurance costs by gender and age

The illustration below shows the difference between BMW X5 insurance rates for male and female drivers. The data assumes a clean driving record, no at-fault accidents, comp and collision included, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Should you buy full coverage?

The information below illustrates the difference between BMW X5 insurance rates with and without physical damage coverage. The costs are based on no claims or violations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

Are you wasting money paying for full coverage?

There is no exact formula of when to drop full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let’s say your BMW X5 book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $6,000 after paying your policy deductible. If you are paying over $600 a year for physical damage coverage, then you might consider buying liability only.

There are a few cases where dropping full coverage is not a good plan. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage.

BMW X5 Insurance Rate Factors

Part of the car insurance buying process is learning the different types of things that go into determining the level of your policy premiums. When you understand what determines base rates, this allows you to make educated decisions that may result in lower rates.

Traffic violations will cost you – Only having one driving citation could increase your next policy renewal forty percent or more. Drivers with clean records get better rates than bad drivers. Drivers who have received license-revoking tickets such as DWI, reckless driving or hit and run convictions may find that they have to to file a SR-22 with their state DMV in order to legally drive.

The chart below shows how speeding tickets and at-fault accidents drive up BMW X5 yearly insurance costs for different age groups. The price estimates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

Reserve claims for larger damages – Companies in Maryland provide better rates to people that do not abuse their auto insurance. If you tend to file frequent claims, you can look forward to increased rates or even have your policy non-renewed. Your car insurance is intended to be relied upon for claims that you cannot pay yourself.

Poor credit decisions can cost you – Credit rating can be an important factor in determining what you pay. So if your credit history is lower than you’d like, you could be paying less to insure your BMW X5 by improving your credit score. Consumers who have high credit scores tend to be more responsible as compared to drivers with lower credit scores.

Avoid unnecessary extra policy coverages – There are quite a few extra bells and whistles you can purchase on your car insurance policy. Coverages for coverage for rental cars, high-cost glass coverage, and additional equipment coverage are some examples. They may seem good when deciding what coverages you need, but if they’re wasting money remove them from your policy.

Insurance loss statistics a BMW X5 – Companies include the past claim trends for vehicles to help determine rates. Models that are shown to have higher loss trends will be charged more to insure.

The table below illustrates the compiled insurance loss statistics for BMW X5 vehicles. For each coverage category, the loss probability for all vehicles combined as an average is considered to be 100. Values under 100 suggest a positive loss record, while numbers shown that are more than 100 point to more claims or an increased probability of a larger loss.

Insurance Loss Ratings for BMW X5 Vehicles
Make and 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Maryland car insurance companies

Insuring your vehicle with a high-quality insurance provider can be challenging considering how many companies there are in Maryland. The company information listed below could help you decide which auto insurers you want to consider comparing rates with.

Top 10 Baltimore Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Top 10 Baltimore Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

Don’t give up on cheaper premiums

While you’re price shopping online, don’t be tempted to reduce coverage to reduce premium. There are a lot of situations where someone sacrificed comprehensive coverage or liability limits and found out when filing a claim that the small savings ended up costing them much more. The aim is to buy enough coverage at the best possible price.

Consumers switch companies for a variety of reasons including high rates after DUI convictions, questionable increases in premium, poor customer service and policy cancellation. Regardless of your reason for switching companies, finding a great new company can be easier than you think.

We’ve covered a lot of tips how to save on BMW X5 insurance in Baltimore. The most important thing to understand is the more companies you get prices for, the better likelihood of getting the cheapest BMW X5 rate quotes. You may even find the lowest priced auto insurance comes from some of the lesser-known companies.

More information can be found on the following sites: