Cheapest Quotes for BMW X5 Insurance in Bakersfield

Are you at wits end from wondering where the money will come from to make your car insurance payment? You have the same problem as many other California consumers.

Sad but true, most car insurance policyholders have stayed with the same insurance company for at least the last four years, and nearly half have never compared car insurance rates at all. Most drivers in Bakersfield can save hundreds of dollars each year by just shopping around, but they just don’t understand how easy it is to save money by comparing rate quotes. Numerous car insurance companies battle for your insurance dollar, and it can be difficult to compare rates to discover the definitive lowest price on BMW X5 insurance in Bakersfield.

Auto insurance statistics and figures

The coverage information displayed below highlights estimates of policy rates for BMW X5 models. Learning how insurance prices are formulated is important for drivers to make smart buying decisions.

Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Price estimates do not factor in zip code location which can decrease or increase coverage rates substantially.

Higher deductibles save money

One of the most common auto insurance questions is how high should the deductibles for physical damage be. The tables below summarize how much more you’ll pay between low and high policy deductibles. The first data set uses a $250 comprehensive and collision deductible and the second set of rates uses a $1,000 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Premium costs do not factor in your specific Bakersfield location which can affect prices substantially.

Based on this data, using a $250 deductible will cost you about $43 more each month or $516 annually than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 17 months between claim filings, you would probably save some money if you opt for a higher deductible.

The illustration below shows how different deductible levels and can affect BMW X5 insurance premiums for different age categories. The premium estimates are based on a married female driver, comp and collision included, and no discounts are applied.

Does it make sense to buy full coverage?

The illustration below shows the comparison of BMW X5 car insurance costs with full coverage compared to only the California minimum liability coverage. The rates are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no discounts are applied.

When to drop full coverage

There is no set rule to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let’s assume your BMW X5 claim settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after the deductible is paid. If premiums are more than $200 annually for physical damage coverage, then you might want to think about dropping full coverage.

There are some cases where dropping full coverage is not advised. If you haven’t paid off your loan, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not buy liability only.

How You Can Control BMW X5 Insurance Prices

Lots of things are part of the calculation when quoting car insurance. Some factors are common sense such as your driving history, but other criteria are less obvious such as whether you are married or your commute time.

The factors shown below are some of the most rate-impacting factors used by your company to calculate your prices.

• Better rates on safer cars – Cars with high safety ratings can get you lower premiums. Vehicles engineered for safety result in less severe injuries and better occupant protection means lower claim amounts and more competitive rates for policyholders. If your BMW X5 scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.

• Older drivers pay less – Young drivers in California are statistically shown to be inattentive when behind the wheel so they pay higher insurance rates. If you’ve ever had to add a inexperienced driver to your policy can increase premiums substantially. Older drivers are shown to be more cautious, tend to cause fewer accidents, and tend to be get fewer driving tickets.

  The following data uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Car features impact insurance rates – Buying a car that has an advanced theft prevention system can get you a discount on your insurance. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart car theft.

• Rates are impacted by vehicle performance – The type of car, truck or SUV you own makes a significant difference in the rate you pay. Economy passenger cars receive the most favorable rates, but other factors influence the final cost greatly.

  The chart below is based on a married female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It shows BMW X5 policy rates compared to other makes and models that have different risk factors.

• Do you have enough liability protection? – Liability insurance is the protection if ever a court rules you are at fault for an accident. Your liability coverage provides you with a defense in court starting from day one. Liability is cheap when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.

• Insurance loss statistics a BMW X5 – Insurers analyze historical claim data to help calculate a profitable premium rate. Vehicles that statistically have high amounts or severity of claims will cost more to insure.

  The information below illustrates the insurance loss data for BMW X5 vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as a total average, is considered to be 100. Numbers below 100 represent a good loss history, while percentage values above 100 indicate more frequent losses or statistically larger losses.

  
  

  Auto Insurance Loss Data for BMW X5 Models

  Vehicle 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

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Best car insurance in Bakersfield

Ending up with a high-quality insurer is hard considering how many companies there are in Bakersfield. The company information shown next may help you decide which companies you want to consider shopping your coverage with.

Top 10 Bakersfield Car Insurance Companies by A.M. Best Rank

1. USAA – A++
2. Travelers – A++
3. State Farm – A++
4. GEICO – A++
5. Esurance – A+
6. Nationwide – A+
7. Allstate – A+
8. Mercury Insurance – A+
9. Progressive – A+
10. Titan Insurance – A+

Top 10 Bakersfield Car Insurance Companies Overall

1. USAA
2. American Family
3. AAA of Southern California
4. State Farm
5. The Hartford
6. AAA Insurance
7. GEICO
8. The General
9. Titan Insurance
10. Progressive

What is YOUR best insurance company?

As you go through the steps to switch your coverage, don’t be tempted to buy lower coverage limits just to save a few bucks. There are a lot of situations where consumers will sacrifice liability limits or collision coverage only to regret they didn’t have enough coverage. Your focus should be to buy the best coverage you can find at the best price, but do not skimp to save money.

Low-cost BMW X5 insurance in Bakersfield can be bought on the web in addition to local insurance agencies, so you need to shop Bakersfield car insurance with both in order to have the best chance of saving money. There are still a few companies who may not have online quoting and many times these smaller companies only sell coverage through local independent agencies.

We just covered many ideas to reduce BMW X5 insurance prices online in Bakersfield. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. Drivers may even discover the best prices are with a lesser-known regional company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.

How to buy lower priced BMW X5 insurance in Bakersfield

If you want to find the absolute lowest rates, then the best way to quote cheaper BMW X5 insurance in Bakersfield is to compare prices once a year from insurers that insure vehicles in California. Prices can be compared by completing these steps.

First, try to learn about individual coverages and the modifications you can make to lower rates. Many rating criteria that increase rates like careless driving and a less-than-favorable credit history can be rectified by being financially responsible and driving safely.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive and State Farm, while independent agents can provide price quotes from multiple insurance companies.

Third, compare the new rates to your current policy premium to see if a cheaper price is available. If you find better rates and buy the policy, ensure coverage does not lapse between policies.

Fourth, provide proper notification to your current company of your decision to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application to the newly selected company. Once the paperwork is finalized, place your new certificate of insurance somewhere easily accessible.

A crucial key to this process is to try to use the same coverage limits and deductibles on every price quote and and to get price quotes from every company you can. This provides a fair rate comparison and plenty of rates choose from.

Additional information

• Child Safety Seats (Insurance Information Institute)
• Who Has Cheap Auto Insurance Quotes for High School Students in Bakersfield? (FAQ)
• Eight Auto Insurance Myths (Insurance Information Institute)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
• Teen Driver Licensing Information (iihs.org)