Get Cheaper BMW 525i Insurance in Three Steps
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But most likely we pay more than we want to and don't really enjoy the buying process. Finding insurance for your BMW 525i that you can actually afford is probably no different.
Step One: Compare Apples-to-Apples Quotes
The antiquated method of shopping for car insurance included a high pressure visit to the office of your local insurance agent. Thanks to the internet, insurance shopping is a whole lot easier!
Getting online rate quotes for a BMW 525i from all the major insurance companies is very easy and only requires you to enter your information once.
Start a free rate quote comparison now by clicking the link below. Once you complete the short form, you'll be able to compare rates and then move on to our next section on how to lower rates even further.
Apples-to-Apples! When doing comparison quotes for your 525i, it's very important that you use the same liability limits and physical damage deductibles on each quote. Otherwise you will not be able to accurately determine which company has the lowest rates.
Step Two: How to Lower your 525i Insurance Premium
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- The performance boost offered by your BMW 525i is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- If you carry full coverage on your vehicle, you can slash your rates by increasing your comprehensive and collision deductibles. You'll pay more out-of-pocket but you will save with every renewal.
- When repairing accident damage on luxury vehicles, body shops charge more because the replacement parts are more expensive. Everything from a fender to a tail light will cost more to replace so your insurance rates will be higher as well.
- Check your credit rating each year and address any problem areas. Higher credit scores mean lower car insurance rates.
- Teen drivers have a tendancy to learn the hard way when driving, and that means having a few fender-benders. Rating them on a high profile newer vehicle can be very expensive so you might consider buying an older model vehicle for them to drive and only insure it with liability coverage.
- If your teen driver has completed a driver's education class in school, check to see if your insurance company offers any discounts for this.
- One of the easiest ways to keep your rates down is to drive safe. One speeding ticket can boost your rates for three years.
- If switching companies, always have the effective date of the new policy be identical to the expiration date on the old policy. This prevents a lapse in coverage and companies charge higher rates if you have any lapses.
- 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.
- Renters will find they may be paying more for insurance as compared to homeowners. Owning a home can often get you a small discount on your car insurance.
- To keep your rates low, don't file excessive claims on your policy. Insurance is meant to cover large losses, not small damage that you can pay for out-of-pocket.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- Vehicle thefts drive up the cost of everyone's insurance, but if your 525i is on the list of the most frequently stolen cars, you might be paying just a little extra.
Step Three: Bind Coverage and Cancel your Old Policy
Choosing a new car insurance company is not easy. But hopefully you have a handful of quotes for your 525i that will give you a good idea of how much it will cost, as well as some idea of any coverage changes you may want to make.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
If you already have a car insurance policy, then your BMW 525i will be covered as soon as your purchase it. If this is your first vehicle, you will want to make sure you have coverage in place as soon as your purchase it. Be sure to have a new policy ready to go if you are buying a new 525i. If you've never had car insurance or don't have a policy now, you won't have any protection on the vehicle until you add it to your policy.
The proof-of-insurance card that is required by state law to be carried in your vehicle can be printed out upon completion of your car insurance policy. An SR-22 filing may be required by your state's DMV if you've been convicted of a serious driving offense such as DUI, DWI or reckless driving. If this applies to you, make sure the car insurance company complies with the SR-22 requirement.
Car Insurance Resources
For more information on car insurance topics like the claims process, rental car insurance and how much coverage you need, visit the Insurance Information Institute website.
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