Would you like to save money by finding lower-priced BMW X5 insurance in Denver? Finding the cheapest insurance for a BMW X5 in Colorado can normally be an all-consuming task, but you can use our car insurance buying tips to find lower rates. There is a better way to shop for car insurance and we'll show you the best way to price shop coverage for your BMW and obtain the best price possible from Denver insurance agents and online providers.
You should take the time to compare premium rates as often as possible because insurance rates fluctuate regularly. Just because you had the best premium rates on BMW X5 insurance in Denver last year other companies may now be cheaper. Forget anything you know (or think you know) about car insurance because you're going to learn the things you must know in order to remove unneeded coverages and save money.
Getting a cheaper price on insurance is actually quite simple. All that's required is to spend a few minutes comparing price quotes to discover which company has the cheapest BMW X5 rate quotes.
The providers in the list below have been selected to offer comparison quotes in Colorado. If several companies are displayed, we recommend you click on several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|X5 3.0I AWD||$216||$370||$338||$20||$100||$1,044||$87|
|X5 3.5D AWD||$466||$910||$474||$28||$142||$2,020||$168|
|X5 4.8I AWD||$182||$332||$338||$20||$100||$972||$81|
|X5 M AWD||$312||$620||$396||$24||$118||$1,470||$123|
|Get Your Own Custom Quote Go|
Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price estimates do not factor in zip code location which can revise prices noticeably.
Auto insurance premiums by gender
The example below illustrates the comparison of BMW X5 insurance prices for male and female drivers. The premiums are based on no violations or accidents, comprehensive and collision coverage, $1,000 deductibles, drivers are not married, and no discounts are applied.
Car insurance rates and discounts
Companies offering auto insurance do not advertise all available discounts very clearly, so we break down both the well known as well as some of the hidden car insurance savings.
- Responsible Driver Discounts - Drivers who avoid accidents can pay as much as 50% less compared to rates paid by drivers with frequent claims.
- ABS Braking Discount - Cars and trucks with ABS braking systems or traction control can avoid accidents and therefore earn up to a 10% discount.
- Multi-car Discount - Buying insurance for multiple vehicles on one policy may reduce the rate for each vehicle.
- Driver Safety - Taking a course that instructs on driving safety can save you 5% or more if you qualify.
- Organization Discounts - Being in a professional or civic organization is a simple method to lower premiums when getting a Denver car insurance quote.
- New Vehicle Savings - Buying insurance on a new vehicle can save up to 30% due to better safety requirements for newer vehicles.
- Mature Driver Discount - Drivers over the age of 55 may qualify for a slight reduction on a Denver car insurance quote.
Discounts save money, but please remember that most credits do not apply to the overall cost of the policy. Some only apply to specific coverage prices like medical payments or collision. If you do the math and it seems like adding up those discounts means a free policy, companies wouldn't make money that way.
Some companies who may offer most of the discounts above may include but are not limited to:
When comparing rates, check with each company the best way to save money. Depending on the company, some discounts may not be available in every state.
Local Denver insurance agents
A lot of people still like to get advice from a local agent and there is nothing wrong with that. Good insurance agents can help you choose the best coverages and help in the event of a claim. The biggest benefit of comparing rate quotes online is the fact that drivers can get cheap rate quotes but also keep your business local.
Once you complete this short form, the coverage information is transmitted to participating agents in Denver who want to provide quotes to get your business. There is no need to find an agent on your own because prices are sent immediately to you. In the event you want to get a price quote from a specific company, feel free to find their quoting web page and give them your coverage information.
Picking the best insurer requires more thought than just a cheap price. You should also get answers to these questions.
- Does the quote include credit and driving reports?
- Do they review policy coverages at every renewal?
- Do they see any coverage gaps in your plan?
- Do they offer rental car reimbursement?
- What kind of financial rating does the company have?
Types of auto insurance agents in Denver
When looking for a reliable agent, you should know the different types of agents that you can choose from. Insurance agents in Denver are considered either independent or exclusive. Either one can write policy coverage, but we need to point out how they are different because it can impact your selection of an agent.
Exclusive Insurance Agencies
These type of agents generally can only insure with one company like State Farm, Allstate, and Farm Bureau. Exclusive agencies are unable to provide other company's prices so they have to upsell other benefits. Exclusive insurance agents are usually quite knowledgeable in insurance sales which can be an advantage. Some people will only buy from exclusive agents partially due to high brand loyalty rather than having the cheapest rates.
Shown below is a short list of exclusive insurance agents in Denver that can give you price quotes.
- Joe Adams - State Farm Insurance Agent
4110 8th Ave - Denver, CO 80220 - (303) 388-4949 - View Map
- Hank Dorner - State Farm Insurance Agent
118 W 5th Ave - Denver, CO 80204 - (303) 280-1115 - View Map
- Tammy Hill - State Farm Insurance Agent
4650 Tower Rd Unit 101 - Denver, CO 80249 - (303) 373-9500 - View Map
Independent Insurance Agents
Agents that elect to be independent can quote rates with many companies and that is an advantage because they can write policies with any number of different companies and potentially find a lower price. To move your coverage to a new company, the agent simply finds a different carrier and you don't have to switch agencies. When comparing rates, we recommend you get quotes from at a minimum one independent agency to get the best comparison. Many can place coverage with smaller companies that may have much lower rates than larger companies.
Below are independent agents in Denver that are able to give price quote information.
- Sorhage and James Insurance
1660 S Albion St # 1005 - Denver, CO 80222 - (303) 759-4551 - View Map
- A Complete Home and Auto Insurance Agency
44 Cook St #100 - Denver, CO 80206 - (303) 650-0060 - View Map
- Aspen Insurance Agency
2238 S Broadway - Denver, CO 80210 - (303) 777-2991 - View Map
When in doubt talk to an agent
When quoting and choosing the right insurance coverage, there is no "best" method to buy coverage. Everyone's situation is a little different.
For instance, these questions may help highlight if your situation would benefit from an agent's advice.
- Do I need to call my car insurance company before buying a new car?
- Does rental coverage apply when I am renting a car?
- Am I covered when driving on a suspended license?
- Am I covered if my car is in a flood?
- Why do I have to buy liability insurance?
- Are my tools covered if they get stolen from my vehicle?
- What is PIP insurance?
- What is the ISO rating for a BMW X5?
- Is borrowed equipment or tools covered if stolen or damaged?
If you can't answer these questions but a few of them apply, then you may want to think about talking to an insurance agent. If you don't have a local agent, fill out this quick form. It only takes a few minutes and can help protect your family.
Components of Your BMW X5 Insurance Rates
When buying car insurance it's important to understand some of the factors that go into determining your policy premiums. When consumers understand what impacts premium levels, this empowers consumers to make smart changes that will entitle you to lower rates.
High credit scores save money - Having a bad credit history can be an important factor in determining what you pay. Consumers who have high credit ratings tend to be more responsible than drivers with lower credit scores. So if your credit score can use some improvement, you may save money insuring your BMW X5 by improving your credit score.
Safeguard your assets with liability coverage - Your car insurance policy's liability coverage kicks in when a jury decides you are liable for causing personal injury or damage in an accident. Your policy's liability insurance provides for a legal defense which can cost a lot. It is affordable coverage when compared with rates for comp and collision, so do not skimp.
Do thieves like your car? - Owning a car that has a built-in theft deterrent system can help bring down rates. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms can help prevent auto theft and help lower rates.
Put fewer miles on your vehicle - Driving a lot of miles in a year the higher your rates will be. Most companies charge to insure your cars based upon how much you drive. Cars used primarily for pleasure use can be on a lower rate level than cars that get driven a lot. Ask your agent if your car insurance declarations sheet states the correct usage for each vehicle, because it can save money. Incorrect rating for your X5 can cost quite a bit.
Insurance losses for a BMW X5 - Car insurance companies use historical loss data to help determine the price you pay. Models that have increased claim numbers or amounts will have increased rates.
The table below shows the historical insurance loss data for BMW X5 vehicles. For each coverage type, the claim amount for all vehicles averaged together is represented as 100. Numbers under 100 suggest a better than average loss history, while values over 100 indicate higher probability of having a loss or statistically larger claims.
BMW X5 Insurance Loss Statistics
|Vehicle 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
Statistics from IIHS.org for 2013-2015 Model Years
Here's why auto insurance is not optional
Despite the high cost of buying insurance for a BMW X5 in Denver, paying for auto insurance is required in Colorado but it also protects you in many ways.
First, just about all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability in order to license the vehicle. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you have a loan on your X5, it's most likely the lender will stipulate that you buy full coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may insure your BMW at a much higher premium rate and force you to pay for it.
Third, insurance safeguards not only your car but also your financial assets. Insurance will pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, your auto insurance policy will pay to repair the damage.
The benefits of having auto insurance definitely exceed the cost, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver overpays more than $810 a year so it's important to compare rates at least once a year to ensure rates are competitive.
You can find cheaper coverage
People switch companies for a variety of reasons including high prices, delays in responding to claim requests, high rates after DUI convictions and questionable increases in premium. It doesn't matter why you want to switch finding a new auto insurance company is pretty simple and you could end up saving a buck or two.
We just covered a lot of information how to reduce BMW X5 insurance rates online in Denver. The key concept to understand is the more you quote Denver car insurance, the better likelihood of getting affordable Denver car insurance quotes. You may even discover the biggest savings come from an unexpected company.
The cheapest BMW X5 insurance in Denver is definitely available both online as well as from independent agents in Denver, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who may not provide the ability to get a quote online and these small, regional companies only sell through independent agencies.
More learning opportunities
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Who Has Cheap Auto Insurance for a Nissan Altima in Colorado? (FAQ)
- Who Has the Cheapest Colorado Auto Insurance Quotes for Drivers with Accidents? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for a Chevrolet Cruze? (FAQ)
- How Much are Colorado Auto Insurance Quotes for Drivers with a Bad Driving Record? (FAQ)
- Who Has Affordable Auto Insurance for Drivers with Bad Credit in Colorado? (FAQ)
- What Auto Insurance is Cheapest in Security-Widefield, Colorado? (FAQ)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)