Cheapest Quotes for BMW X5 Insurance in Bakersfield

Insurance quote for BMW X5 in BakersfieldAre 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.

BMW X5 Insurance Rates in Bakersfield, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $342 $628 $534 $32 $160 $1,696 $141
X5 3.5D AWD $378 $724 $534 $32 $160 $1,828 $152
X5 4.8I AWD $378 $724 $534 $32 $160 $1,828 $152
X5 M AWD $448 $914 $534 $32 $160 $2,088 $174
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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.

BMW X5 insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $430 $678 $442 $26 $132 $1,733 $144
X5 3.5D AWD $474 $780 $442 $26 $132 $1,879 $157
X5 4.8I AWD $474 $780 $442 $26 $132 $1,879 $157
X5 M AWD $562 $986 $442 $26 $132 $2,173 $181
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BMW X5 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $266 $426 $442 $26 $132 $1,292 $108
X5 3.5D AWD $292 $490 $442 $26 $132 $1,382 $115
X5 4.8I AWD $292 $490 $442 $26 $132 $1,382 $115
X5 M AWD $346 $620 $442 $26 $132 $1,566 $131
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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.

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.

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