Paying low cost premium rates for BMW X5 eDrive insurance in Denver could be challenging for people new to quoting coverage prices online. With so many insurers to choose from, it can easily become hard work to find the lowest price on BMW X5 eDrive insurance.
Amazingly, the vast majority of Colorado auto insurance customers kept their coverage with the same auto insurance company for well over three years, and almost half have never compared rates with other companies. With the average auto insurance premium being $1,847, American drivers can save about 46.5% each year, but they just assume it takes a lot of time to compare other rate quotes.
If you have coverage now, you should be able to save money using the concepts you’re about to learn. Finding and comparing affordable insurance coverage in Denver is easy if you know what you’re doing. Although Colorado consumers benefit from understanding the methods companies use to charge you for coverage and apply this information to your search.
When shopping for BMW X5 eDrive insurance in Denver there are multiple ways to compare rate quotes from many available insurance companies in Colorado. By far the easiest way to comparison shop consists of obtaining rate quotes online.
Just remember that having more price comparisons increases your odds of finding more affordable rates.
The providers in the list below have been selected to offer price quotes in Denver, CO. If several companies are displayed, we recommend you visit two to three different companies to get a more complete price comparison.
Car insurance is not optional
Despite the high insurance cost for a BMW X5 eDrive in Denver, insurance may be required and benefits you in several ways.
- The majority of states have mandatory insurance requirements which means state laws require a specific level of liability coverage if you don’t want to risk a ticket. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your X5 eDrive has a loan, almost every bank will force you to carry insurance to guarantee loan repayment. If you default on your policy, the bank may buy a policy for your BMW at a more expensive rate and force you to reimburse them much more than you were paying before.
- Car insurance protects your BMW and your assets. Insurance will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of buying car insurance definitely exceed the cost, particularly for liability claims. But the average driver in Colorado is currently overpaying as much as $700 annually so it’s recommended you shop around at every renewal to ensure rates are inline.
Components of Your BMW X5 eDrive Insurance Prices
Many things are part of the equation when premium rates are determined. A few of the factors are predictable like a motor vehicle report, but some are not as apparent such as your marital status or how safe your car is. One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that aid in calculating the rates you pay for car insurance. When consumers understand what influences your rates, this allows you to make good choices that could help you find lower car insurance prices.
Vehicle features impact premiums – Choosing a vehicle with a theft deterrent system can earn a premium discount. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your vehicle from being stolen.
Teenage drivers are expensive to insure – Drivers with little experience are known to be careless and easily distracted when at the wheel of a vehicle and because of this, their car insurance rates are much higher. If you’ve ever had to add a teenage driver onto your car insurance can break the bank. Older drivers are proven to be safer behind the wheel, cause fewer claims and accidents, and are safer drivers.
Car insurance liability coverage limits – The liability coverage on your policy will provide protection when a jury decides you are liable for personal injury or accident damage. Liability insurance provides for a legal defense which can cost thousands of dollars. Liability insurance is quite affordable compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
Is insurance cheaper for men or women? – Over the last 30 years, statistics show that females take fewer risks when driving. Now that doesn’t mean women are better drivers. Women and men cause fender benders in similar numbers, but the men tend to have higher claims. Men also statistically have more aggressive citations like DWI (DUI) or reckless driving. Youthful male drivers are most likely to cause an accident and therefore have the most expensive car insurance rates.
Rates and your address – Having an address in a small town is a good thing when insuring your vehicles. Fewer drivers on the road corresponds to lower accident rates as well as less vandalism and auto theft. Urban drivers have more road rage incidents and more time behind the wheel. Longer commute distances means a statistically higher chance of an accident.
What type of car do you drive? – The make and model of the car you are trying to find cheaper insurance for makes a significant difference in how high your rates are. The best insurance prices are usually for the lowest performance passenger cars, but the cost you end up paying is determined by many additional factors. Since the BMW X5 eDrive is a crossover, insuring your vehicle will cost slightly more as compared to the average rate in Denver.
Get cheaper BMW X5 eDrive insurance rates in Denver
Auto insurance companies do not list the complete list of policy discounts in a way that’s easy to find, so the below list has some of the best known as well as the least known discounts you could be receiving when you buy Denver auto insurance online. If you do not double check each discount available, you’re paying more than you need to.
- Mature Driver Discount – Mature drivers may receive a slight reduction on a Denver auto insurance quote.
- No Claim Discounts – Denver drivers who stay claim-free can save substantially in comparison to bad drivers.
- Employee of Federal Government – Employees or retirees of the government could qualify for a slight premium decrease with select insurance companies.
- Student Discounts – A discount for being a good student could provide a savings of up to 20% or more. You can use this discount normally up until you turn 25.
- New Car Discount – Putting coverage on a new X5 eDrive can save you some money since newer models are generally safer.
- More Vehicles More Savings – Buying a policy with primary and secondary vehicles with the same company can get a discount for every vehicle.
- Accident Waiver – This one isn’t a discount, but a few companies such as State Farm and Progressive may permit one accident without getting socked with a rate hike so long as you are claim-free before the accident.
It’s important to understand that most of the big mark downs will not be given to all coverage premiums. Most cut specific coverage prices like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, you’re out of luck.
A list of insurance companies and some of the discounts are included below.
- State Farm may offer discounts for good student, Steer Clear safe driver discount, defensive driving training, good driver, driver’s education, and accident-free.
- Esurance may have discounts that include online quote, defensive driver, good student, Switch & Save, claim free, and emergency road assistance.
- Progressive policyholders can earn discounts including online signing, continuous coverage, multi-policy, good student, online quote discount, and multi-vehicle.
- Liberty Mutual includes discounts for exclusive group savings, hybrid vehicle, newly retired, new move discount, good student, multi-policy, and new vehicle discount.
- Auto-Owners Insurance offers premium reductions for anti-lock brakes, company car, safe vehicle, safe driver, multiple vehicles, multi-policy, and anti-theft.
- GEICO discounts include emergency military deployment, daytime running lights, federal employee, military active duty, five-year accident-free, driver training, and multi-vehicle.
It’s a good idea to ask each insurance company the best way to save money. Savings may not apply everywhere. To see a list of providers that offer multiple discounts in Denver, click here.
Insurance agencies can give valuable advice
Some people just prefer to buy from a local agent and that is recommended in a lot of cases One of the great benefits of getting online price quotes is the fact that you can find the best rates and still buy from a local agent. Supporting small agencies is definitely important in Denver.
For easy comparison, once you complete this simple form, your insurance coverage information is transmitted to agents in your area that can give you free Denver auto insurance quotes for your insurance coverage. You never need to leave your computer as quotes are delivered to you instantly. It’s the lowest rates without having to waste a lot of time. In the event you want to compare rates from a specific company, you just need to jump over to their website and fill out the quote form the provide.
Types of auto insurance agents in Denver
If you need to find a reputable agency, you must know there are a couple different types of agents and how they can service your needs differently. Agencies in Denver are either independent agents or exclusive agents.
Independent Insurance Agents
Independent insurance agents do not write with just one company and that is an advantage because they can write policies with an assortment of companies and find the cheapest auto insurance rates. If you are not satisfied with one company, your policy is moved internally and you stay with the same agent.
If you need cheaper auto insurance rates, we recommend you get quotes from a few independent agents to ensure the widest selection of prices. They also have the ability to place coverage with smaller mutual companies which may have better rates.
Featured below are independent insurance agents in Denver that may be able to give rate quotes.
- Dagley Insurance and Financial Services Inc
2055 S Federal Blvd – Denver, CO 80219 – (303) 975-1229 – View Map - Insurance Town and Country
1735 E 17th Ave #3 – Denver, CO 80218 – (303) 388-7216 – View Map - All Insurance Agency
67 Knox Ct – Denver, CO 80219 – (303) 935-3661 – View Map
Exclusive Agents
Exclusive insurance agents can usually just insure with one company such as State Farm, Allstate, or Farmers Insurance. Exclusive agents are unable to shop your coverage around so they are skilled at selling on more than just price. Exclusive agencies are highly trained on their company’s products which can be an advantage. Consumers often purchase coverage from exclusives mostly because of the brand legacy instead of buying on price only.
Listed below are exclusive agencies in Denver that are able to give price quote information.
- Hiram Licea – State Farm Insurance Agent
3600 Morrison Rd – Denver, CO 80219 – (303) 935-7475 – View Map - Allstate Insurance: K.D. Sakraida
1932 W 33rd Ave – Denver, CO 80211 – (303) 433-2094 – View Map - Bao Ngoc Nguyen – State Farm Insurance Agent
1699 S Federal Blvd b – Denver, CO 80219 – (303) 975-1100 – View Map
Picking a insurance agency is decision based upon more than just the bottom line cost. The following questions are important to ask.
- Is vehicle damage repaired with OEM or aftermarket parts?
- Is their price quote a firm figure or are their hidden costs?
- Does the agency have a positive business rating?
- If you raise deductibles, how much can you save?
- Which insurance companies are they affiliated with?
- Do the coverages you’re quoting properly cover your vehicle?
- What company holds the largest book of business for them?
- Are they giving you every discount you deserve?
If you receive answers to your satisfaction to these questions in addition to an acceptable price estimate, you may have just found an auto insurance agent that meets the criteria to adequately provide auto insurance. Just remember policyholders can terminate your policy when you choose so never assume that you’re stuck with a specific company for the full policy term.
Shop around and save
We’ve covered a lot of tips how to lower your BMW X5 eDrive insurance car insurance rates in Denver. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers could even find that the biggest savings come from some of the smallest insurance companies.
Low-cost BMW X5 eDrive insurance in Denver is attainable online and with local Denver insurance agents, so you need to quote Denver auto insurance with both to have the best selection. Some insurance companies may not have online quoting and usually these small insurance companies prefer to sell through independent agents.
As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. Too many times, drivers have reduced comprehensive coverage or liability limits only to regret that they should have had better coverage. Your aim should be to purchase a proper amount of coverage at an affordable rate but still have enough coverage for asset protection.
Additional information
- Side Impact Crash Tests (iihs.org)
- Who Has the Cheapest Auto Insurance Rates After a Speeding Ticket in Denver? (FAQ)
- How Much are Auto Insurance Rates for Drivers with Bad Credit in Denver? (FAQ)
- How Much are Denver Car Insurance Quotes for a Toyota Tacoma? (FAQ)
- How Much are Denver Car Insurance Rates for Business Use? (FAQ)
- How do I File a Claim? (Insurance Information Institute)
- How to Avoid Common Accidents (State Farm)
- Older Drivers FAQ (iihs.org)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)