Car Insurance Quotes for the BMW 5 Series
Are You Getting the Cheapest Car Insurance Available for a BMW 5 Series?
How Much Is Car Insurance for the BMW 5 Series?
Executive cars exude class and style, and the BMW 5 Series ranks among the best. Annual premiums for this sedan stand at around $1,248 for minimum liability coverage and $2,772 for full auto insurance coverage. This is much more expensive than what you would pay for similar cars in this class.
Freeway Insurance offers affordable auto insurance plans that fit your needs and budget. Our agents are ready to help you find the best policy for your 5 Series at the best possible rate.
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Comparing Insurance Costs for the BMW 5 Series to Other Vehicles
Annual premiums for the 5 Series are much higher than comparable models, with the Volvo S90 coming in the highest — costing $324 more than this BMW model. Here’s a look at how full coverage premiums for executive cars in this same class stack up against each other.
| Make/Model | Annual Full Coverage Insurance |
|---|---|
| BMW 5 Series | $2,772 |
| Acura RLX | $1,776 |
| Audi A6 | $2,532 |
| Cadillac CTS | $2,412 |
| Volvo S90 | $3,096 |
| Infiniti Q70 | $2,604 |
| Jaguar XF | $2,604 |
| Lexus GS | $2,448 |
| Mercedes-Benz E-Class | $2,544 |
Types of Car Insurance Coverage for the BMW 5 Series
If you’re looking to insure your car, you can choose between a full coverage policy or a basic one that provides the minimum liability insurance your state requires.
Full coverage policies typically cost a little more, but you’ll get collision and comprehensive protection in addition to liability insurance. So, if someone crashes into your Series 5 or the car gets vandalized or is damaged in a storm, your policy covers repairs or replacement.
Basic policies meet state auto insurance requirements, and that’s it. If you crash your car and others involved are hurt, your minimum liability coverage will pay for their medical treatment up to a specific amount. If the cost of treatment exceeds that amount, you’ll have to pay the remaining bill out of pocket. The same goes for property damage.
Full Coverage
A full coverage policy combines liability with comprehensive and collision insurance, protecting you financially in various circumstances.
If you cause a crash, the liability portion helps cover any medical bills or property damage claims filed by others involved. Liability won’t cover any losses you experience in this type of crash, but your collision coverage will. Collision will also protect you financially in any other type of crash — whether it’s with another car, an SUV, a commercial truck, or with someone’s property, like hitting a neighbor’s fence while backing out of the driveway.
Comprehensive takes care of damages that aren’t related to a crash. If your Series 5 gets spray painted by vandals, for example, or gets damaged during a storm, comprehensive pays for all repairs.
State Minimum Liability
Each state requires liability coverage of some sort and amount. This ensures that all drivers have the wherewithal to help themselves recover financially from an accident, rather than depending on the state’s emergency resources to cover the costs associated with wrecks.
If you cause a crash while driving your Series 5 and hurt or injure the other driver involved, a minimum liability policy will help pay their medical bills and help pay to have their vehicle repaired. If the other driver dies of their injuries, a basic policy will aid in covering their funeral expenses.
Minimum liability mandates vary by state and sometimes require additional protection. In Ohio, for example, a basic policy must include $25,000 to cover the medical treatment or funeral expenses for one person involved, with up to $50,000 to cover these expenses if two or more persons are involved. It must also include $25,000 to pay for property damage. By comparison, a Florida driver with a basic policy must have $10,000 in personal injury protection and $10,000 in property damage coverage.
Individual Factors That Influence Pricing for the BMW 5 Series
Several factors influence how much you’ll have to pay to insure your car. Here’s a closer look at some of the most common ones.
Loss Probability
Insurers rely on crash statistics to calculate loss probability or how often the same make and model of your luxury car has crashed in the city or region where you live and drive. This includes the extent of damage this type of car typically experiences in a fender bender or a full-on collision.
Vehicle Safety Features and Ratings
Built-in features aimed at enhancing safety typically bring down premiums, and so do safety ratings. The Insurance Institute for Highway Safety named the 2020 BMW 5 Series a Top Safety Pick, giving the vehicle’s strength, restraints, and seats, as well as its standard and optional safety systems, high marks in terms of crashworthiness.
Vehicle Value
Vehicles depreciate — or lose value — with time and use. Though not the case with every car, your Series 5’s premium may drop a bit as the miles add up on the odometer. Because this car is still in production, if your Series 5 ever needs repairs, replacement parts are likely available, so it shouldn’t devalue too quickly.
How Does a DUI Affect Insurance Rates?
DUI arrests and convictions always impact auto premiums, making rates skyrocket. That’s because driving under the influence of drugs or alcohol is highly dangerous, and insurers consider anyone arrested on a DUI charge as a high-risk driver.
If you’re arrested and convicted of a DUI, you’ll be paying much more than $2,772 in annual premiums for your Series 5. This higher rate will hold for at least three years when infractions typically clear from a driving record. In many states, you’ll be forced to file an SR-22 certificate.
What Are Some Car Insurance Discounts for the BMW 5 Series?
Insurance companies reward good drivers who keep their eyes on the road and have a spotless record. These discounts reduce annual premiums by around 10% to 30% on average.
Those who bundle two or more coverage plans into a single policy are rewarded, too. A multi-policy premium usually includes a discount of around 5% to 25%.
As a BMW 5 Series driver, you may also be eligible for:
- A 10% to 15% new car discount if your car is less than three years old.
- A 4% to 12% discount if you sign up for a policy after getting an online quote from the insurer.
- A 5% to 25% discount if your sedan is equipped with anti-theft features, like a stolen vehicle recovery system or a VIN etching, which is the engraving of the vehicle’s identification number that’s usually found on the driver’s side dashboard.
Freeway Insurance can help you get the best coverage for your midsize pickup at an affordable price. Contact us today or get an online quote, and we can get you on the road with a great rate.
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What Are Some of the Characteristics of the BMW 5 Series?
BMW rolled out its 5 Series in 1972, and it remains the second best-selling model in its product line. The first generation of this executive car was available as a four-door sedan with four- or six-cylinder engine options. In the decades that followed, a 5-door wagon or touring edition was introduced, and power capabilities broadened to include diesel and naturally aspirated or turbocharged V8 and V10 engine options.
The 2024 G60, G61, and G68 models are the eighth generation of the 5 Series. Available as a plug-in hybrid or with turbocharged petrol or diesel engines, the 2024 models have a mild hybrid system that features a 48V starter generator. They’re also fitted as standard with the ZF 8HP 8-speed automatic transmission that includes Launch Control and paddle shifters.
Find the Best Car Insurance Rates Online for the Acura MDX Today
A Freeway Insurance agent can help you find the best auto insurance for your luxury sedan at an affordable rate. Contact us today to find coverage that suits your needs and budget.
We can hook you up with the cheapest car insurance for your BMW 5 Series so you and your family are protected. Call us at 800-777-5620, come get a fast and free quote for car insurance online, or stop by one of our locations.