Affordable Scottsdale BMW X5 Insurance

If you want to save money, the best way to get affordable car insurance rates in Scottsdale is to regularly compare quotes from insurance carriers who sell auto insurance in Arizona. You can shop around by following these guidelines.

Step 1: Take a few minutes and learn about what coverages are included in your policy and the things you can control to keep rates down. Many rating criteria that drive up the price such as high-risk driving behaviors and a less-than-favorable credit score can be rectified by paying attention to minor details.

Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple companies.

Step 3: Compare the price quotes to the premium of your current policy to see if a cheaper rate is available in Scottsdale. If you find better rates and change companies, make sure coverage is continuous and does not lapse.

Step 4: Provide written notification to your current company of your intent to cancel your current auto insurance policy. Submit payment and a completed application to the newly selected company. Once received, keep your new proof of insurance paperwork with your vehicle’s registration.

One bit of advice is to try to use similar deductibles and liability limits on each quote and and to look at as many auto insurance providers as possible. Doing this provides a fair rate comparison and a thorough selection of prices.

It’s well known that car insurance companies want to keep you from shopping around. People who get comparison quotes once a year are highly likely to buy a new policy because they stand a good chance of finding better rates. A study showed that people who did price comparisons regularly saved approximately $865 a year compared to policyholders who didn’t regularly shop around.

If finding the cheapest rates on BMW X5 insurance in Scottsdale is the reason for your visit, then learning a little about how to get free comparison quotes and analyze coverages can help you succeed in finding affordable rates.

Most companies allow you to get pricing direct online. The process is pretty easy as you simply type in the amount of coverage you want into the quote form. Upon sending the form, their quoting system makes automated requests for credit information and your driving record and returns pricing information based on these factors.

The ability to get online price quotes for BMW X5 insurance in Scottsdale streamlines rate comparisons, and it’s very important to perform this step in order to get a lower rate.

If you want to fill out one form to compare multiple rates now, compare rates from the companies below. If you have a policy now, it’s recommended you complete the form with your coverages identical to your current policy. Doing this assures you will get a price comparison using the exact same coverages.

The companies in the list below are ready to provide comparison quotes in Scottsdale, AZ. If you wish to find the best cheap car insurance in Scottsdale, we recommend you visit several of them to get a more complete price comparison.

Insurance is not optional but you don’t have to overpay

Despite the high cost, insurance is required in Arizona but also provides important benefits.

• The majority of states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability insurance coverage in order to license the vehicle. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you bought your BMW with a loan, most lenders will stipulate that you carry insurance to protect their interest in the vehicle. If coverage lapses or is canceled, the bank may insure your BMW at an extremely high rate and require you to fork over the higher price.
• Insurance protects both your BMW and your assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers legal expenses if you cause an accident and are sued. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your car greatly outweigh the cost, particularly when you have a large claim. Despite what companies tell you, the average driver overpays as much as $855 a year so you should quote your policy with other companies at every policy renewal to save money.

Rates and information analytics

The coverage information shown below covers a range of rate quotes for BMW X5 models. Having a good grasp of how insurance rates are formulated can help you make smart choices when comparing insurance rates.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Price estimates do not factor in your specific Scottsdale location which can influence premium rates greatly.

Can higher deductibles save money?

One of the more difficult decisions when buying car insurance is how high should the physical damage coverage deductibles be. The following insurance rates outline the rate difference between high and low policy deductibles. The first rate table uses a $250 physical damage coverage deductible and the second price table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Price information does not factor in your specific Scottsdale location which can alter auto insurance rates greatly.

We can derive from the above data that using a $250 deductible could cost the average driver approximately $15 more each month or $180 a year across all BMW X5 models than opting for the higher $500 deductible. Because you would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you normally go at least 17 months between claim filings, you would come out ahead going with the higher deductible.

Price comparison of only insuring for liability

The information below shows the comparison of BMW X5 car insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no driving violations, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.

Should you buy full coverage or liability only?

There is no definitive guideline that is best for determining when to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your BMW X5 claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $5,000 after paying your deductible. If you are currently paying more than $500 a year for full coverage, then you might want to consider buying only liability coverage.

There are a few cases where dropping full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

These discounts can lower your car insurance rates

Not many people think insurance is cheap, but there’s a good chance there are discounts that could drop your premiums quite a bit. Most are applied at the time you complete a quote, but occasionally some discounts must be inquired about before being credited.

• Driving Data Discount – Scottsdale drivers who agree to allow driving data submission to scrutinize driving patterns by using a telematic data system such as Allstate’s Drivewise and State Farm’s In-Drive system may get a rate reduction if they show good driving skills.
• Include Life Insurance and Save – Larger companies have lower premium rates if you buy life insurance from them.
• Policy Bundle Discount – When you combine your auto and home insurance with one company you may earn over 10 percent off each policy depending on the company.
• Good Student Discount – Excelling in school can be rewarded with saving of up to 25%. Earning this discount can benefit you well after school through age 25.
• Seat Belt Usage – Forcing all vehicle occupants to buckle up before driving can save 10% or more on the premium charged for medical payments and/or PIP.
• Distant Student – Children who are enrolled in a college that is more than 100 miles from Scottsdale and do not have access to a covered vehicle may be able to be covered for less.
• Safe Driver Discounts – Accident-free drivers can save as much as half off their rates than their less cautious counterparts.

Please keep in mind that some of the credits will not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like you would end up receiving a 100% discount, you won’t be that lucky.

The information below compares BMW X5 insurance premiums with and without discounts applied to the premium. The premium estimates are based on a male driver, a clean driving record, no at-fault accidents, Arizona state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-car, safe-driver, claim-free, and multi-policy discounts applied.

Insurance companies that may offer quotes with some of the discounts shown above include:

• 21st Century
• Progressive
• State Farm
• Nationwide
• Esurance
• The Hartford

Before buying, ask every company how many discounts you can get. Some of the discounts discussed earlier might not be available to policyholders everywhere.