Best Ways to Save on Pittsburgh BMW X5 Insurance

It’s shocking but 70% of consumers have purchased from the same company for more than four years, and just under half have never shopped around. Pittsburgh drivers could pocket about 55% a year by just comparing rate quotes, but they don’t invest the time required to go online and compare rates.

The recommended way to get low-cost auto insurance rates in Pittsburgh is to annually compare prices from companies in Pennsylvania. You can compare rates by completing these steps.

1. Read about what coverages are included in your policy and the measures you can take to keep rates down. Many policy risk factors that drive up the price such as traffic violations and a substandard credit score can be amended by being financially responsible and driving safely.
2. Get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only provide price estimates from a single company like GEICO or Allstate, while agents who are independent can provide rate quotes from multiple companies.
3. Compare the price quotes to your current policy premium to see if switching to a new carrier will save money. If you find better rates and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
4. Provide proper notification to your current company to cancel your existing policy and submit payment along with a signed and completed policy application to your new carrier. As soon as you receive it, place the new proof of insurance certificate in your vehicle’s glove compartment or console.

One key aspect of rate comparisons is to make sure you’re comparing identical coverages on every quote request and to quote with as many car insurance companies as possible. This guarantees an accurate price comparison and a complete price analysis.

If you have coverage now or just want cheaper coverage, you can learn to find the best rates without reducing protection. Our objective is to introduce you to how to compare rates easily and some money-saving tips. Smart shoppers just need to learn the most effective way to compare company rates using one simple form.

Getting a low cost price on insurance is not a difficult process. All you need to do is invest a few minutes to get quotes online from several insurance companies.

The companies in the list below are our best choices to provide price quotes in Pennsylvania. If your goal is to find the best auto insurance in Pittsburgh, PA, it’s a good idea that you compare several of them in order to get a fair rate comparison.

Insurance policy discounts you can’t miss

Some providers don’t always list all discounts very well, so the following list contains both the well known and also the more inconspicuous discounts that you may qualify for.

• Fewer Miles Equal More Savings – Keeping the miles down on your BMW could earn discounted rates on garaged vehicles.
• Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and therefore earn up to a 10% discount.
• Memberships – Joining certain professional organizations can get you a small discount when shopping for insurance.
• Federal Government Employee – Having worked for a branch of the government may reduce rates when you quote Pittsburgh car insurance depending on your company.
• Sign Early and Save – A few insurance companies allow discounts for buying a new policy prior to your current X5 insurance policy expiration. This can save 10% or more.
• Passenger Safety Discount – Cars that have air bags or automatic seat belts could see savings of 20% or more.

Remember that some credits don’t apply to the entire policy premium. Most only apply to individual premiums such as physical damage coverage or medical payments. So when the math indicates you would end up receiving a 100% discount, you’re out of luck. Any qualifying discounts will help lower the cost of your policy.

The chart below shows the comparison of BMW X5 insurance prices with and without discounts applied to the policy rates. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, Pennsylvania state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, claim-free, multi-policy, and multi-car discounts applied.

A few popular companies and a summarized list of policyholder discounts are detailed below.

• State Farm may offer discounts for defensive driving training, anti-theft, good driver, Drive Safe & Save, driver’s education, Steer Clear safe driver discount, and good student.
• Farmers Insurance discounts include early shopping, homeowner, business and professional, multi-car, youthful driver, electronic funds transfer, and distant student.
• GEICO offers discounts for military active duty, daytime running lights, driver training, multi-vehicle, multi-policy, and emergency military deployment.
• American Family offers premium reductions for good student, Steer into Savings, air bags, accident-free, and good driver.
• Nationwide includes discounts for easy pay, Farm Bureau membership, family plan, multi-policy, and anti-theft.
• Progressive has discounts for multi-vehicle, online signing, online quote discount, homeowner, good student, continuous coverage, and multi-policy.

Before purchasing a policy, check with all companies you are considering which discounts you qualify for. All car insurance discounts might not apply in your area.

Car insurance analysis for a BMW X5

The coverage table below outlines different insurance coverage prices for BMW X5 models. Understanding how insurance policy premiums are calculated can benefit drivers when making informed decisions when shopping around for a new policy.

Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Estimates do not factor in vehicle garaging location which can raise or lower premiums noticeably.

Policy deductibles

A question often asked by Pittsburgh drivers is at what level do you set your deductibles. The rates below may help to illustrate the rate differences between low and high physical damage deductibles. The first rate quote example uses a $250 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Rate quotes do not factor in vehicle garaging location which can alter premium rates substantially.

Based on this data, using a $250 deductible will cost you roughly $32 more each month or $384 every year averaged for all X5 models than choosing the higher $1,000 deductible. Since you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you go at least 23 months between claims, you would come out ahead if you elect the higher deductible.

The illustration below highlights how deductible selection and can raise or lower BMW X5 premium costs for different age groups of insureds. The data is based on a single male driver, full coverage, and no additional discounts are factored in.

BMW X5 insurance premiums by gender in Pittsburgh

The diagram below illustrates the difference between BMW X5 car insurance rates for male and female drivers. Data assumes no accidents, no driving violations, full physical damage coverage, $100 deductibles, drivers are not married, and no discounts are applied.

Rate comparison of full coverage and liability-only

The information below compares BMW X5 annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Pennsylvania. The data is based on no accidents, no driving violations, $250 deductibles, single marital status, and no discounts are taken into consideration.

Are you wasting money paying for full coverage?

There is no set guideline to drop full coverage on your policy, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your BMW X5 replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after paying the physical damage deductible. If you are paying in excess of $500 a year for full coverage, then it might be time to buy liability only.

There are a few situations where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not eliminate full coverage.