Best BMW X5 Insurance in Phoenix

Insurance rates BMW X5 in PhoenixFinding cheap Phoenix BMW X5 insurance quotes online can appear to be overwhelming for beginners to comparison shopping on the internet. Since there are so many companies in the marketplace, how can drivers possibly compare every company to locate the best pricing?

Shockingly, nearly 70% of Arizona drivers have bought auto insurance from the same company for at least the last four years, and 38% of drivers have never compared rate quotes at all. Many drivers in America can save hundreds of dollars each year, but most just don’t grasp how much money they would save if they changed companies.

Consumers should take time to take a look at other company’s rates before your policy renews because prices are rarely the same from one policy term to another. Even if you got the best deal on BMW X5 insurance in Phoenix last year you may be paying too much now. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to how to use online quotes to find better coverage on BMW X5 insurance in Phoenix at a better price.

Buying affordable auto insurance in Phoenix is quite easy if you know the best way to do it. If you have a policy now, you will surely be able to save money using the techniques presented in this article. But Arizona vehicle owners need to have an understanding of how insurance companies price insurance differently because it varies considerably.

How much is BMW X5 insurance in Phoenix, Arizona?

To find cheap prices, there are a couple of ways to get quotes from many different Arizona insurance companies. The quickest method to comparison shop consists of obtaining rate quotes online. Keep in mind that obtaining a wide range of quotes helps improve the odds of finding a lower rate than you’re paying now.

The providers in the list below can provide quotes in Arizona. If multiple companies are shown, we suggest you visit as many as you can to get a more complete price comparison.

BMW X5 Insurance Costs in Phoenix, AZ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $262 $456 $404 $24 $122 $1,268 $106
X5 3.5D AWD $308 $620 $314 $18 $94 $1,354 $113
X5 4.8I AWD $180 $306 $308 $18 $92 $904 $75
X5 M AWD $310 $540 $300 $18 $90 $1,258 $105
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Prices do not factor in vehicle garaging location which can alter coverage prices noticeably.

Deductible comparison

A question often asked by Phoenix drivers is at what level do you set your deductibles. The comparison tables below may aid in understanding the differences in premium rates when you buy lower versus higher deductibles. The first data set uses a $250 deductible and the second pricing table uses a $500 deductible.

BMW X5 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $292 $460 $300 $18 $90 $1,185 $99
X5 3.5D AWD $322 $530 $300 $18 $90 $1,285 $107
X5 4.8I AWD $322 $530 $300 $18 $90 $1,285 $107
X5 M AWD $380 $668 $300 $18 $90 $1,481 $123
Get Your Own Custom Quote Go

BMW X5 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $236 $370 $300 $18 $90 $1,014 $85
X5 3.5D AWD $262 $428 $300 $18 $90 $1,098 $92
X5 4.8I AWD $262 $428 $300 $18 $90 $1,098 $92
X5 M AWD $310 $540 $300 $18 $90 $1,258 $105
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate information does not factor in vehicle garaging location which can affect price quotes noticeably.

Based on the figures above, using a $250 deductible costs about $15 more each month or $180 every year than choosing the higher $500 deductible. Because you would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you have more than 17 months between claim filings, you would save money if you choose the higher deductible. Here’s an example of how this calculation is made.

Average monthly premium for $250 deductibles: $109
Average monthly premium for $500 deductibles (subtract): – $94
Monthly savings from raising deductible: $15
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $15
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

Cost comparison with and without full coverage

The example below examines BMW X5 auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Arizona. The rate quotes are based on no violations or claims, $500 deductibles, married female driver, and no additional discounts are factored in.

When to drop comp and collision

There is no set guideline that is best for determining when to drop full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s pretend your BMW X5 book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after the policy deductible has been paid. If you are paying more than $800 a year to have full coverage, then it might be time to consider dropping full coverage.

There are a few cases where dropping physical damage coverage is not advised. If you still owe money on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.

Raise deductibles and save

The chart below highlights how deductible choice and can influence BMW X5 insurance rates for each different age category. The premiums assume a single male driver, full coverage, and no additional discounts are factored in.

Get cheap rates by getting discounts

Not too many consumers would say insurance is affordable, but you may qualify for discounts that could drop your premiums quite a bit. A few discounts will automatically apply when you quote, but some may not be applied and must be asked for before being credited.Cheaper insurance with discounts

Remember that most discounts do not apply to your bottom line cost. Most only apply to specific coverage prices like collision or personal injury protection. So even though they make it sound like you could get a free insurance policy, you won’t be that lucky.

Companies and some of the discounts are shown below.

Before you buy a policy, ask each insurance company how many discounts you can get. Some of the earlier mentioned discounts might not apply in your state. To find providers with the best discounts in Arizona, follow this link.

It may be expensive, but it’s not optional

Despite the potentially high cost of BMW X5 insurance, buying auto insurance is a good idea for several reasons.

First, almost all states have minimum liability requirements which means the state requires a specific minimum amount of liability insurance in order to be legal. 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.

Second, if your BMW X5 has a lien holder, more than likely the lender will have a requirement that you carry insurance to guarantee their interest in the vehicle. If you default on your policy, the bank may buy a policy for your BMW at an extremely high rate and require you to reimburse them much more than you were paying before.

Third, auto insurance preserves not only your BMW X5 but also your financial assets. Insurance will pay for many types of medical costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers legal expenses in the event you are sued. If damage is caused by hail or an accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.

The benefits of buying auto insurance outweigh the cost, especially with large liability claims. But the average American driver is wasting up to $865 each year so it’s very important to do a rate comparison at every policy renewal to help ensure money is not being wasted.

Insurance agencies near you

Many people would rather have an agent’s advice and that is OK! One of the best bonuses of comparing insurance prices online is you can get cheap rate quotes and still have a local agent.

Find insurance agent in PhoenixBy using this simple form, your coverage information is transmitted to local insurance agents in Phoenix who will gladly provide quotes for your coverage. There is no need to contact any insurance agencies because prices are sent immediately to your email address. You can find lower rates and work with a local agent. If you wish to quote rates from a specific insurance company, you would need to navigate to their website and fill out their quote form.

Choosing the best provider shouldn’t rely on just the price. A good agent in Phoenix will have answers to these questions.

If you want to buy insurance from a reliable insurance agent, you need to know there are two different types of agencies to choose from. Agents are considered either exclusive or independent (non-exclusive).

Exclusive Insurance Agencies

Agents in the exclusive channel can only provide pricing for a single company and examples are State Farm, AAA, and Liberty Mutual. They generally cannot place coverage with different providers so they have no alternatives for high prices. Exclusive agents are well schooled on their company’s products which helps overcome the inability to quote other rates. Drivers often choose to use a exclusive agent mainly due to the brand name instead of buying on price only.

The following are exclusive agents in Phoenix that can give you comparison quotes.

View more agents

Independent Insurance Agents

Agents that elect to be independent are not employed by any specific company and that enables them to quote your coverage amongst many companies and find the cheapest insurance rates. If they find a lower price, the business is moved internally and you don’t have to do anything.

When comparing insurance prices, it’s recommended you get several quotes from several independent agencies for the best price selection. Many write coverage with smaller mutual companies that may provide cheaper insurance rates.

Listed below is a list of independent insurance agents in Phoenix that can give you price quote information.

View more agents