Best Insurance for a BMW X5 in Portland

Have you fallen victim to an expensive insurance policy? Trust us when we tell you many Portland drivers feel the same as you.

It’s an obvious conclusion that insurance companies don’t want their customers to go rate shopping. Drivers who shop around for better prices are likely to buy a new policy because there is a good probability of finding discount prices. A recent study showed that people who compared prices once a year saved about $72 a month compared to policyholders who don’t make a habit of comparing rates.

If finding the most affordable BMW X5 insurance is why you’re here, then learning about how to get rate quotes and compare coverage rates can save time and money.

There is such a variety of insurers to pick from, and although it’s nice to have a choice, it can be more difficult to find a good deal for BMW X5 insurance in Portland.

You need to compare premium rates at least once a year because insurance prices are variable and change quite frequently. Just because you found the best rates on BMW X5 insurance in Portland six months ago other companies may now be cheaper. Block out anything you think you know about insurance because I’m going to let you in on the secrets to one of the easiest ways to lower your rates without sacrificing coverage.

To find affordable Portland car insurance quotes, there are several ways to compare rate quotes from all the different companies. The best method to find the lowest BMW X5 rates consists of obtaining rate quotes online.

Online shopping is fast and free, and it replaces the need to drive around to all the different Portland insurance agencies. Comparing BMW X5 insurance rate quotes online eliminates the need for an insurance agent unless you want the professional abilities that only a licensed agent can provide. Although, it is possible compare the best prices online and still use a local agent.

Just keep in mind that comparing more quotes will increase your chances of finding a better price.

The companies shown below provide free quotes in Portland, OR. If multiple companies are listed, we recommend you get rates from several of them to get a more complete price comparison.

Lower rates by qualifying for discounts

The cost of insuring your cars can be expensive, but there could be significant discounts that you may not even be aware of. Certain discounts will be triggered automatically at quote time, but a few need to be inquired about before being credited.

• Theft Deterrent – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft and that can save you a little bit as well.
• Homeowners Savings – Owning a home in Portland can save you money because it demonstrates responsibility.
• Clubs and Organizations – Affiliation with qualifying employment or professional organizations could qualify you for a break on your next renewal.
• Auto/Life Discount – Select insurance companies reward you with lower premium rates if you buy some life insurance in addition to your auto policy.
• Waiver for an Accident – Not a discount per se, but some insurance companies will allow you to have one accident before raising your premiums if your claims history is clear prior to the accident.
• Save with More Vehicles Insured – Having all your vehicles with one company may reduce the rate for each vehicle.

Keep in mind that most discounts do not apply to your bottom line cost. Most cut the price of certain insurance coverages like liability, collision or medical payments. Even though it appears you would end up receiving a 100% discount, you’re out of luck.

The illustration below illustrates the comparison of BMW X5 insurance prices with and without some available policy discounts. The premiums are based on a male driver, no violations or accidents, Oregon state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, multi-car, claim-free, marriage, and safe-driver discounts applied.

To locate insurers who offer online BMW X5 insurance quotes in Portland, follow this link.

Car insurance statistics for a BMW X5

The information shown below showcases a range of insurance costs for BMW X5 models. Understanding more about how auto insurance policy rates are formulated can aid in making smart choices when comparing insurance quotes.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium costs do not factor in zip code location which can influence premium rates noticeably.

Physical damage deductible comparison

One frequently asked question is how high should the physical damage deductibles be. The premium rates below summarize the rate differences between low and high policy deductibles. The first rate table uses a $100 physical damage coverage deductible 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 Oregon minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Estimates do not factor in zip code location which can lower or raise premium rates substantially.

Using the data above, we can ascertain that using a $100 deductible will cost you roughly $30 more each month or $360 for a full year than requesting the higher $500 deductible. Since you would pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you have more than 13 months between claims, you would probably be better off if you opt for a higher deductible.

The example below highlights how deductible choice and can increase or decrease BMW X5 insurance prices for different ages of insureds. Data assumes a single female driver, comp and collision included, and no discounts are factored in.

Careless drivers pay higher rates

The illustration below demonstrates how citations and at-fault accidents can increase BMW X5 insurance costs for different ages of insureds. The rate quotes are based on a single female driver, full coverage, $250 deductibles, and no additional discounts are factored in.

Does full coverage make sense?

The example below illustrates the comparison of BMW X5 insurance prices when comparing full coverage to liability only. The premiums assume no claims or violations, $500 deductibles, single status, and no discounts are applied to the premium.

When to drop comp and collision

There is no clear-cut rule that is best for determining when to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your BMW X5 claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after paying your deductible. If premiums are more than $300 a year for your policy with full coverage, then it could be time to drop full coverage.

There are some circumstances where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

How to find a good Portland auto insurance company

Buying coverage from a high-quality auto insurance provider can be challenging considering how many different companies insure vehicles in Portland. The ranking data shown next could help you pick which auto insurance companies you want to consider when looking for cheaper rates.

Top 10 Portland Car Insurance Companies Ranked by Value

1. USAA
2. American Family
3. The Hartford
4. Titan Insurance
5. The General
6. AAA Insurance
7. State Farm
8. Mercury Insurance
9. Nationwide
10. Safeco

Top 10 Portland Car Insurance Companies Ranked by Customer Satisfaction

1. Titan Insurance – 95%
2. USAA – 94%
3. AAA Insurance – 91%
4. Nationwide – 90%
5. State Farm – 90%
6. The Hartford – 89%
7. GEICO – 89%
8. 21st Century – 88%
9. Liberty Mutual – 88%
10. Allstate – 88%

What Determines BMW X5 Insurance Rates?

Lots of things are taken into consideration when pricing auto insurance. Most are fairly basic such as traffic violations, but some are less obvious like your vehicle usage or your commute time. The best way to find cheaper auto insurance is to take a look at the different types of things that go into determining the price you pay for auto insurance. If you understand what impacts premium levels, this allows you to make good choices that may reward you with cheaper rates.

The itemized list below are some of the major factors that factor into your premiums.

• Auto insurance rates and age – More mature drivers are viewed as being more responsible, tend to file fewer claims, and tend to be get fewer driving tickets. Young drivers are proven to be inattentive and easily distracted when driving so auto insurance rates are higher.

  The chart below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Your occupation can affect rates – Did you know your career choice can influence rates? Careers like military generals, architects, and dentists usually pay the highest rates because of high stress levels and lots of time spent at work. On the other hand, jobs such as actors, historians and the unemployed receive lower rates.
• Poor credit rating equals high costs – Your credit history can be a huge factor in determining what you pay. Therefore, if your credit history can use some improvement, you could be paying less to insure your BMW X5 by improving your rating. People that have very high credit ratings tend to file fewer claims and have better driving records than those with poor credit scores.
• Don’t cut corners with liability coverage – Liability coverage is the protection if ever you are found to be at fault for personal injury or accident damage. It will provide you with a defense in court which can cost thousands of dollars. This coverage is relatively inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
• See if your company offers a multi-policy discount – Some companies provide better rates to policyholders that purchase more than one policy in the form of a multi-policy discount. Discounts can amount to 10 percent or more. Even if you’re getting this discount it’s still a good idea to comparison shop to guarantee you are still saving the most.There is a good possibility that you can save money by buying from different companies

• Pay more for higher performance vehicles – The performance of the vehicle you are buying insurance for makes a significant difference in your premium level. Lower cost passenger models usually have the lowest rates, but there are many factors that impact the final cost.

  The following chart assumes a married male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It compares BMW X5 policy rates compared to other models that have different performance rating factors.

• Get cheaper rates after the wedding – Having a spouse helps lower the price on your auto insurance bill. It generally demonstrates drivers are more financially stable and statistics prove drivers who are married are more cautious.
• Save money with GPS tracking and theft deterrents – Buying a car with a theft deterrent system can help lower your rates. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent auto theft.

• Insurance losses for a BMW X5 – Insurance companies use data from past claims to help determine prices. Models that statistically have high amounts or severity of claims will have increased rates.

  The data below shows the collected loss data for BMW X5 vehicles. For each type of coverage, the statistical loss for all vehicles, regardless of manufacturer or model, is equal to 100. Values under 100 represent a good loss history, while values over 100 point to more losses or tendency to have higher losses.

  
  

  Auto Insurance Loss Data for BMW X5 Models

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  BMW X5 4dr 2WD	131	110	153
  BMW X5 4dr 4WD	126	81	164	65	57	67

  BETTER

  AVERAGE

  WORSE

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