Three Easy Steps to Lower BMW 525xi Insurance Rates
If we enjoyed shopping for car insurance, we'd do it more often. But the reality is, it's a chore for most people and we seem to always end up paying more than we want to. Finding good insurance for your BMW 525xi probably leaves you feeling the same way.
Step One: Get Insurance Quotes
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. Not anymore!
You can now shop all the best car insurance companies and compare rates for a BMW 525xi and you don't even have to visit each individual website!
To find affordable coverage for your BMW 525xi, the first step is to click the link below and complete the short form.
Read this (it's important)! When doing any car insurance quote to compare rates to either your existing policy or to other quotes, it's important to use identical coverages on all quotes. Otherwise you will not be able to accurately determine which company has the lowest rate for your 525xi.
Step Two: How to Insure your 525xi for Less
After completing step one and having some rates to compare, you can now focus on policy and lifestyle modifications that will lower your 525xi insurance rates.
- The BMW 525xi is a higher performance vehicle, but do you really need the increased speed or power? Vehicles with more moderate performance are usually cheaper to insure.
- How is your credit rating? The better credit you have, the less insurance will cost for your 525xi. If you have bad credit, work on improving your credit score and repair past credit problems.
- Repairing accident damage generally costs more for the 525xi because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- A lead foot will result in higher insurance rates. Slow down, don't get tickets and you'll pay less.
- If you own a home, you may get a break on your car insurance. Home ownership demonstrates financial responsibility.
- If you're a young driver, you will pay more to insure a 525xi. There isn't anything you can do about your age, but rates will drop as you mature.
- When buying a new policy, you do not want a gap in coverage. This lapse is viewed by insurance companies as a high risk, and you will pay more for your next policy.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- Consider taking a defensive driving course. You can often make up the cost of the course in as little as a single policy renewal.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- For some reason, car theives target particular makes and models more than others. If your 525xi is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
Step Three: Buy the Best Policy
Once you have compared identical rate quotes for your 525xi and made a decision on deductibles, coverages and other policy options, you are ready to buy your policy with the new company.
Make sure to avoid any lapse in coverage by setting the new policy's effective date to be the same date you cancel your old policy. Otherwise you could be driving without any coverage.
If you are adding a vehicle to an existing policy and not buying a new one, just make sure to get the vehicle added as soon as possible. Every insurance company offers a grace period to add new vehicles, so make sure you get the BMW added prior to the expiration of this grace period. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
To read more about filing a claim, choosing replacement parts, rental car insurance and more, visit the Insurance Information Institute.
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