Compare BMW M5 Insurance Quotes in Bakersfield

Really, the only way to save money on car insurance rates in Bakersfield is to begin comparing prices regularly from insurers in California. Price quotes can be compared by following these guidelines.

Step 1: Get a basic knowledge of how auto insurance works and the factors you can control to prevent high rates. Many risk factors that result in higher rates such as speeding tickets, careless driving and poor credit can be controlled by making small lifestyle or driving habit changes.

Step 2: Compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while independent agents can give you price quotes from multiple sources. Start a quote

Step 3: Compare the new rates to the premium of your current policy to see if cheaper M5 coverage is available in Bakersfield. If you can save money and change companies, make sure coverage is continuous and does not lapse.

Step 4: Give notification to your agent or company to cancel your current car insurance policy and submit a down payment along with a completed application to the new company. Don’t forget to place your new certificate verifying proof of insurance along with your vehicle registration.

A good piece of advice is that you’ll want to make sure you compare similar deductibles and liability limits on every quote and and to get rate quotes from as many companies as you can. Doing this guarantees a fair price comparison and a thorough selection of prices.

It’s safe to assume that insurance companies don’t want policyholders to shop around. Insureds who shop around for better prices are very likely to buy a different policy because there is a good chance of getting low-cost coverage. A survey found that consumers who routinely compared quotes saved as much as $865 a year compared to those who never shopped for cheaper rates.

If finding the lowest price for BMW M5 insurance in Bakersfield is your objective, then having a grasp of the best ways to shop for cheaper coverage can save time and make the process easier.

Affordable Bakersfield BMW M5 insurance quotes

The following companies can provide free quotes in Bakersfield, CA. If multiple companies are listed, we suggest you visit two to three different companies to get the most competitive price.

Get discounts on Bakersfield insurance

Car insurance companies do not list every discount in a way that’s easy to find, so the following list contains a few of the more well known and also the more inconspicuous discounts you could be receiving when you buy Bakersfield car insurance online.

• Accident Forgiveness – This one isn’t a discount, but a handful of insurance companies will allow you to have one accident without raising rates if your claims history is clear for a set time period.
• Discounts for Federal Employees – Federal government employees could cut as much as 10% off depending on your insurance provider.
• Good Student – Excelling in school can save 20 to 25%. This discount can apply well after school through age 25.
• Seat Belt Usage – Requiring all passengers to buckle their seat belts can save up to 15% off the personal injury premium cost.
• Low Mileage – Keeping the miles down on your BMW can earn cheaper rates.

A little disclaimer on discounts, most of the big mark downs will not be given to the whole policy. Most only cut the cost of specific coverages such as collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, it doesn’t quite work that way.

The chart below compares BMW M5 car insurance costs with and without discounts. The information is based on a male driver, no violations or accidents, California state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, marriage, homeowner, multi-policy, and multi-car discounts applied.

Popular insurance companies and a selection of discounts are:

• GEICO offers discounts for daytime running lights, military active duty, membership and employees, air bags, and defensive driver.
• Auto-Owners Insurance has discounts for multi-policy, safe driver, paid in full, anti-lock brakes, and safe vehicle.
• American Family offers premium reductions for good driver, defensive driver, multi-vehicle, good student, and accident-free.
• Esurance may offer discounts for multi-policy, Pac-12 alumni, homeowner, paid-in-full, good driver, defensive driver, and multi-car.
• Progressive may have discounts that include multi-vehicle, online quote discount, good student, homeowner, online signing, continuous coverage, and multi-policy.
• State Farm may include discounts for Drive Safe & Save, Steer Clear safe driver discount, good student, multiple policy, and passive restraint.
• AAA offers discounts including pay-in-full, good student, multi-car, anti-theft, and good driver.

When comparing rates, check with all companies you are considering which discounts can lower your rates. Savings may not apply in every state. If you would like to view insurance companies who offer online BMW M5 insurance quotes in California, click here.

Facts and figures for BMW M5 insurance

The coverage information shown next showcases a range of insurance prices for BMW M5 models. Being able to understand how insurance policy premiums are established can help guide drivers when making informed decisions when shopping around for a new policy.

Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Price information does not factor in specific location information which can decrease or increase prices considerably.

Should you raise deductibles?

One of the most common car insurance questions is how high should the physical damage coverage deductibles be. The premium rates below can help you understand the difference in cost when you select higher and lower coverage deductibles. The first set of rates uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

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

Based on the data above, we can derive that using a $250 deductible costs roughly $29 more each month or $348 for a full year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 9 months between claim filings, you would save more money by going with a higher deductible. The illustration below shows an example of how you can decide this on your own policy.

One important caveat is that a higher deductible results in more money out-of-pocket if you have a claim. That will require enough disposable savings in order to pay more for the deductible.

Illustration showing the impact of accidents and violations

The diagram below illustrates how violations and at-fault accidents can impact BMW M5 car insurance costs for different age groups. The information is based on a married female driver, full coverage, $100 deductibles, and no other discounts are factored in.

Lower the Price of Car Insurance with These Tips

One of the most helpful ways to save on car insurance is to to have a grasp of some of the elements that come into play when calculating your car insurance rates. When you understand what impacts premium levels, this allows you to make educated decisions that can help you get lower rates. Multiple criteria are part of the calculation when you get a price on insurance. A few of the factors are predictable like your driving record, but others are less obvious such as your marital status or your vehicle rating.

Shown below are just a few of the factors companies use to determine prices.

• Vocation stress can affect rates – Jobs like military personnel, business owners, and miners tend to have higher rates than average attributed to high stress levels and lots of time spent away from family. On the other hand, jobs like scientists, students and homemakers pay lower than average rates.
• Low mileage costs less – The more you drive every year the more it will cost to insure it. The majority of insurers price each vehicle’s coverage based upon how much you drive. Autos that sit idle most of the time can be on a lower rate level than vehicles that are driven to work every day. It’s always a good idea to double check that your car insurance policy properly reflects annual mileage, because it can save money. Improper usage on your M5 can cost quite a bit.
• Vehicle options can affect prices – Choosing a vehicle that has a built-in theft deterrent system can help bring down rates. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent car theft and help bring rates down.

• Which gender costs less? – The statistics show women tend to be less risk to insure than men. However, this does not mean men are worse drivers. Females and males have fender benders at about the same rate, but men cause more damage. Men also statistically get higher numbers of serious violations like driving under the influence (DUI). Young men ages 16 to 20 are several times more likely to be in an accident and are penalized with high car insurance rates.

  The chart below shows the comparison of BMW M5 premium costs for male and female drivers. The data assumes no violations or accidents, full physical damage coverage, $100 deductibles, drivers are single, and no discounts are factored in.

• Cheaper rates with high deductibles – Your deductibles represent how much money you are required to pay if you file a covered claim. Insurance for physical damage to your car, also called comprehensive and collision insurance, insures against damage to your car. A few examples of covered claims are a windshield broken by a bird, damage from fire, and damage from wind. The higher the amount the insured is willing to pay, the less money you will pay for car insurance.

• Is your car built for speed? – The type of vehicle you are buying insurance for makes a significant difference in your auto insurance rates. The best insurance prices tend to be for smaller low performance passenger vehicles, but other factors influence the final cost greatly.

  The following data uses these assumptions: married male driver age 30, full coverage with $100 deductibles, and no discounts or violations. It shows BMW M5 rates compared to other vehicles that have a range of performance rating factors.

• BMW M5 claim data – Auto insurance companies include the past claim history for a vehicle as a tool for profitable underwriting. Models that the data shows to have higher frequency or amount of claims will have higher rates for specific coverages. The information below illustrates the historical loss data for BMW M5 vehicles.

  For each policy coverage, the claim amount for all vehicles compiled together is a value of 100. Percentages below 100 indicate better than average losses, while numbers above 100 indicate higher probability of having a loss or an increased probability of a larger loss.

  
  

  Auto Insurance Loss Data for BMW M5 Models

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  BMW M5 4dr	284	94	373

  BETTER

  AVERAGE

  WORSE

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

When to have guidance from an insurance agent

A small number of people still like to buy from a local agent and that is a smart decision Most agents are trained risk managers and help file insurance claims. A good thing about comparing rates online is you can get cheaper premium rates and still choose a local agent. Buying from and supporting neighborhood agents is especially important in Bakersfield.

By using this simple form, your information is transmitted to participating agents in Bakersfield that can provide free Bakersfield car insurance quotes for your business. You won’t need to do any legwork because prices are sent to you. In the event you want to quote rates from a particular provider, you can always jump over to their website and fill out their quote form.

If you prefer to buy insurance from a good Bakersfield insurance agent, you need to know there are two different types of agencies to choose from. Insurance agents can either be exclusive agents or independent agents. Both types of agents can sell insurance policies, but it’s worth learning the difference in the companies they write for because it can factor into which agent you choose.

Independent Agents

Independent agents are appointed with more than one company and that enables them to quote your coverage through many different insurance companies depending on which coverage is best. If your agent finds better pricing, they can switch companies in-house which requires no work on your part. If you are comparing rate quotes, you will want to check rates from several independent insurance agents so that you can do a thorough price comparison. Most independent agents also contract with mutual insurance companies who may have lower rates.

Featured below is a list of independent agents in Bakersfield that can give you pricing information.

• El Dorado Insurance Agency, Inc.
  2809 Unicorn Rd # 102 – Bakersfield, CA 93308 – (800) 221-3386 – View Map
• Crosby and Crosby Insurance Services
  111 H St – Bakersfield, CA 93304 – (661) 327-5531 – View Map
• Nationwide Insurance: Michaud Insurance Agency Inc
  201 California Ave – Bakersfield, CA 93304 – (661) 633-9900 – View Map

View more Bakersfield agents

Exclusive Insurance Agents

These agents can only place business with one company and some examples include Farmers Insurance, State Farm, or Allstate. They usually cannot provide other company’s prices so you need to shop around if the rates are high. Exclusive agencies receive extensive training in insurance sales and that enables them to sell even at higher rates. Many people buy from exclusive agents mainly due to the prominence of the brand and the convenience of having all coverages with one company.

The following are Bakersfield exclusive agencies willing to provide price quote information.

• Dennis Stitt – State Farm Insurance Agent
  1811 Oak St Ste 155 – Bakersfield, CA 93301 – (661) 327-6990 – View Map
• Farmers Insurance – James Burton Jr.
  1309 S H St – Bakersfield, CA 93307 – (661) 836-1300 – View Map
• Farmers Insurance: Eric Peters
  1519 Eye St – Bakersfield, CA 93301 – (661) 872-8113 – View Map

View more Bakersfield agents

Choosing an car insurance agent shouldn’t rely on just the quoted price. Some important questions to ask are:

• How many years of experience in personal auto insurance do they have?
• How are they compensated?
• Do they see any coverage gaps in your plan?
• Is there a 24/7 contact number?
• Are they able to provide referrals?
• What company do they have the most business with?
• Has the agent ever had any license suspensions?

After you get answers to your satisfaction to these questions and a good coverage price, it’s possible that you found an auto insurance agent that is reputable and can service your policy.

Compare car insurance rates regularly to save

When trying to cut insurance costs, you should never buy less coverage just to save a little money. Too many times, an insured cut liability coverage limits only to regret that the small savings ended up costing them much more. Your focus should be to purchase plenty of coverage at the lowest possible cost.

You just read a lot of ways to reduce BMW M5 insurance prices online in Bakersfield. The most important thing to understand is the more you quote Bakersfield car insurance, the better your comparison will be. Consumers could even find that the biggest savings come from some of the lesser-known companies.

Some insurance companies do not provide online quoting and most of the time these small insurance companies provide coverage only through local independent agents. The cheapest BMW M5 insurance in Bakersfield can be bought from both online companies and from local insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money.

Additional car insurance information is available below:

• Collision Coverage (Liberty Mutual)
• Who Has Cheap Bakersfield Auto Insurance Quotes for a Toyota Highlander? (FAQ)
• Who Has Affordable Auto Insurance Quotes for Nurses in Bakersfield? (FAQ)
• Who Has Cheap Auto Insurance for Drivers Under 21 in Bakersfield? (FAQ)
• Airbag FAQ (iihs.org)
• Preventing Carjacking and Theft (Insurance Information Institute)
• Get the Right Protection (InsureUonline.org)