Finding 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.
| 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.
| 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 | |||||||
| 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.
- Discount for New Cars – Insuring a vehicle that is new can save you some money since new vehicles are generally safer.
- Drive Safe and Save – Insureds without accidents can save as much as half off their rates than drivers with accidents.
- Auto/Home Discount – If you can bundle your auto and homeowners insurance with the same company you may earn over 10 percent off each policy depending on the company.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in school.
- Lower Rates for Military – Having a family member in the military could mean lower premium rates.
- Discounts for Seat Belt Usage – Buckling up and requiring all passengers to fasten their seat belts can save up to 15% off the medical payments premium.
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.
- Progressive offers premium reductions for good student, multi-vehicle, homeowner, online signing, and multi-policy.
- GEICO has savings for driver training, five-year accident-free, multi-policy, membership and employees, anti-lock brakes, daytime running lights, and military active duty.
- State Farm includes discounts for good driver, safe vehicle, multiple policy, Drive Safe & Save, good student, and driver’s education.
- Esurance may have discounts that include anti-lock brakes, good student, paid-in-full, DriveSense, renters, Pac-12 alumni, and good driver.
- The Hartford may offer discounts for defensive driver, anti-theft, good student, air bag, vehicle fuel type, bundle, and driver training.
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.
By 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.
- Is the agent properly licensed in Arizona?
- How would your car be valued if totalled?
- What are their preferred companies if they are an independent agency?
- Do they offer claims assistance after hours?
- Do they carry Errors and Omissions coverage?
- Can glass claims be handled at your home?
- Will they give you a referral list?
- Do they assist clients in filing claims?
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.
- Jacob Rosell – State Farm Insurance Agent
2218 N 24th St – Phoenix, AZ 85008 – (602) 267-8200 – View Map - Mary Parada – State Farm Insurance Agent
3414 W Bell Rd – Phoenix, AZ 85053 – (602) 942-9202 – View Map - Lula Smith – State Farm Insurance Agent
7217 S Central Ave – Phoenix, AZ 85042 – (602) 232-0793 – View Map
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.
- Daniels Nicolson Insurance Agency, Inc
4411 N 19th Ave – Phoenix, AZ 85015 – (800) 972-1893 – View Map - Farmer-Leavitt Insurance Agency
919 N 1st St – Phoenix, AZ 85004 – (602) 264-0566 – View Map - LA Insurance Agency
7602 S Central Ave – Phoenix, AZ 85042 – (602) 276-0002 – View Map