Compare BMW X5 Insurance Rates in New Orleans

It takes a few minutes, but the best way to find low-cost auto insurance rates in New Orleans is to compare prices at least once a year from companies in Louisiana. You can compare prices by completing these steps.

One important bit of advice is that you’ll want to compare identical coverages on every quote and and to get rate quotes from as many companies as feasibly possible. Doing this provides a level playing field and a good representation of prices.

Discount BMW X5 insuranceIt’s a known fact that car insurance companies want to keep you from comparing prices. Drivers who shop around for better prices will most likely switch insurance companies because there is a high probability of finding coverage at a cheaper rate. A recent insurance study discovered that consumers who compared price quotes annually saved on average $70 a month compared to policyholders who didn’t regularly shop around.

If finding the most affordable insurance is why you’re reading this, then having an understanding of the best ways to shop for insurance premiums can make it simple to find affordable coverage.

How do Insurance Companies Determine BMW X5 Insurance Costs?

The best way to find cheaper insurance is to take a look at some of the factors that are used to determine the level of your policy premiums. If you know what influences your rates, this allows you to make educated decisions that may result in lower rates. Lots of factors are considered when you quote your car insurance policy. Some are obvious such as traffic violations, but other criteria are not as apparent such as your credit history and annual miles driven.

The factors shown below are most of the major factors used by your company to calculate rates.

BMW X5 detailed coverage information

The premium table shown below covers detailed analysis of insurance coverage prices for BMW X5 models. Being more informed about how auto insurance prices are calculated can assist in making decisions on which insurance to purchase.

BMW X5 Insurance Rates in New Orleans, LA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $442 $820 $562 $34 $168 $2,026 $169
X5 3.5D AWD $488 $944 $562 $34 $168 $2,196 $183
X5 4.8I AWD $488 $944 $562 $34 $168 $2,196 $183
X5 M AWD $578 $1192 $562 $34 $168 $2,534 $211
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Estimates do not factor in zip code location which can affect rates considerably.

Deductible analysis

When comparing car insurance rates, the most common question is what deductibles to buy. The data tables below highlight the rate fluctuation when you choose different coverage deductibles. The first rate estimation uses a $250 physical damage deductible and the second pricing table uses a $500 deductible.

BMW X5 insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $452 $712 $464 $28 $140 $1,821 $152
X5 3.5D AWD $498 $820 $464 $28 $140 $1,975 $165
X5 4.8I AWD $498 $820 $464 $28 $140 $1,975 $165
X5 M AWD $590 $1036 $464 $28 $140 $2,283 $190
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BMW X5 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
X5 3.0I AWD $366 $574 $464 $28 $140 $1,572 $131
X5 3.5D AWD $404 $662 $464 $28 $140 $1,698 $142
X5 4.8I AWD $404 $662 $464 $28 $140 $1,698 $142
X5 M AWD $480 $836 $464 $28 $140 $1,948 $162
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Rates do not factor in garaging location in New Orleans which can alter coverage rates considerably.

We can derive from the above data that using a $250 deductible will cost you about $24 more each month or $288 each year across all BMW X5 models than selecting the higher $500 deductible. Due to the fact that you would have to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you average more than 10 months between claims, you would more than likely save some money by going with a higher deductible. Below is a better example of how this calculation is made.

Average monthly premium for $250 deductibles: $168
Average monthly premium for $500 deductibles (subtract): – $144
Monthly savings from raising deductible: $24
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 10 months

One big caveat is that higher deductibles results in a higher out-of-pocket expense if you have a claim. That will force you to have some available funds in order to pay the higher deductible.

The chart below shows how choosing a deductible and can affect BMW X5 premium costs for each different age group. The premiums assume a single female driver, full physical damage coverage, and no discounts are factored in.

Take policy discounts and save on BMW X5 insurance in New Orleans

Car insurance can cost a lot, but there could be significant discounts to help offset the cost. Many discounts should be triggered when you purchase, but occasionally some discounts must be specifically requested before being credited.Save money with discounts

Don’t be shocked that many deductions do not apply to your bottom line cost. Some only apply to individual premiums such as physical damage coverage or medical payments. Even though it appears all the discounts add up to a free policy, it just doesn’t work that way.

The illustration below compares BMW X5 auto insurance costs with and without policy discounts. The data is based on a female driver, no claims or violations, Louisiana state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, safe-driver, marriage, homeowner, and claim-free discounts applied.

A list of auto insurance companies and some of the premium reductions they offer can be found below.

If you need lower rates, check with each insurance company how many discounts you can get. Discounts may not apply to policyholders in your state.

Persistent drivers can save

Cost effective BMW X5 insurance can be sourced from both online companies and also from your neighborhood New Orleans agents, and you should compare rates from both so you have a total pricing picture. A few companies do not offer the ability to get a quote online and many times these smaller companies provide coverage only through independent insurance agencies.

We just showed you many ideas to shop for BMW X5 insurance online. The most important thing to understand is the more providers you compare, the better your chances of lowering your premium rates. Consumers could even find that the lowest car insurance rates come from some of the smallest insurance companies. Some small companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as Progressive or GEICO.

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