Compare Insurance Prices for a BMW X5 in Nevada

I can’t think of a single person who looks forward to buying car insurance, particularly when their premiums are too high.

Drivers have multiple car insurance companies to buy insurance from, and though it is a good thing to have multiple companies, it makes it harder to find the best rates.

Buying car insurance is not that difficult. If you currently have a car insurance policy, you will be able to reduce your rates substantially using this strategy. But Nevada car owners benefit from understanding how the larger insurance companies sell online and take advantage of how the system works.

Do you qualify for discounts?

Companies that sell car insurance do not list every discount very clearly, so we researched both the well known and the more hidden discounts you could be receiving.

  • Auto/Home Discount – When you combine your home and auto insurance with one insurance company you could get a discount of at least 10% off all policies.
  • Resident Student – Any of your kids who attend school more than 100 miles from home and do not have a car may be able to be covered for less.
  • Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more.
  • Good Students Pay Less – Performing well in school can get you a discount of up to 25%. The discount lasts well after school through age 25.
  • Paperless Signup – A few companies will discount your bill up to fifty bucks for buying your policy digitally online.
  • Own a Home – Simply owning a home may trigger a car insurance policy discount because owning a home demonstrates responsibility.

As a disclaimer on discounts, some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, you’re out of luck.

To see a list of providers offering car insurance discounts in Nevada, follow this link.

Your BMW X5 insurance rate is a complex equation

Smart consumers have a good feel for some of the elements that come into play when calculating your car insurance rates. Having a good understanding of what impacts premium levels allows you to make educated decisions that can help you get much lower annual insurance costs.

The list below includes some of the items companies use to determine your rates.

  • Pay less after the wedding – Getting married actually saves money when buying car insurance. Having a significant other usually means you are more responsible and statistics show being married results in fewer claims.
  • Pleasure use saves money – The more you drive each year the more you will pay for car insurance. Most companies price each vehicle’s coverage based on how the vehicle is used. Autos that are left in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Improper usage on your X5 can cost quite a bit. Verify your car insurance policy properly reflects the correct driver usage.
  • Liability coverage protects you – Liability insurance will protect you if ever a jury decides you are liable for damages caused by your negligence. Liability provides legal defense starting from day one. This coverage is very inexpensive compared to physical damage coverage, so do not cut corners here.
  • Your location affects your rates – Residing in a rural area can be a good thing when insuring your vehicles. Urban drivers have to deal with much more traffic and longer commute times. Lower population means fewer accidents as well as less vandalism and auto theft.
  • A clean driving record saves money – Only having one ticket can bump up the cost by as much as thirty percent. Drivers who don’t get tickets tend to pay less for car insurance than people who have multiple driving citations. Drivers with severe tickets such as DUI or reckless driving are required to submit a SR-22 form with the DMV in their state in order to drive a vehicle legally.
  • Higher safety ratings means cheaper insurance – Vehicles with high crash test scores get lower rates. The safest vehicles have better occupant injury protection and lower injury rates means less money paid by your insurance company and lower rates for you. If your BMW is rated at least four stars on you may qualify for a discount.

Car Insurance through a local agent

A small number of people prefer to sit down with an agent and that is a personal choice. The best thing about comparing insurance prices online is the fact that you can find better rates but also keep your business local.

For easy comparison, once you complete this form (opens in new window), the quote information is emailed to companies who will give you bids for your coverage. There is no need to leave your computer as quotes are delivered to the email address you provide. How cool is that?! You can find better rates and an insurance agent to talk to.

Choosing an insurance company needs to be determined by more than just the price. Any agent should have no problem answering these questions:

  • Which members of your family are coverage by the policy?
  • Do they assist clients in filing claims?
  • Do they have any clout with companies to ensure a fair claim settlement?
  • Do they receive special compensation for putting your coverage with one company over another?
  • Are claim adjusters local or do you have to take your car somewhere else?

Different types of Nevada auto insurance agents

When finding a reputable insurance agent or broker, there are a couple of different agency structures from which to choose. Insurance agencies in Nevada are categorized either independent (non-captive) or captive.

Captive Insurance Agents

Captive agents can only write with one company such as State Farm, Allstate and AAA. They usually cannot give you multiple price quotes so they have to upsell other benefits. Captive agencies are usually quite knowledgeable on their products and sales techniques which can be an advantage.

Independent Insurance Agents

Independent insurance agents are not employed by any specific company so they can insure your vehicles with any number of different companies depending on which coverage is best. If your agent finds better pricing, an independent agent can move your coverage and you don’t have to find a new agent. When comparing rates, it’s a good idea to get quotes from several independent insurance agents to ensure the widest selection of prices.

To view a complete directory of insurance agencies in Nevada, click here.

Once you have received reasonable responses to these questions and an acceptable price quote, you may have just found an insurance agent that meets your needs to provide car insurance coverage.

The car insurance bait and switch

Car insurance companies such as State Farm and Allstate continually stream television and radio advertisements. They all seem to have a common claim of big savings after switching to their company. How do they all say the same thing? It’s all in the numbers.

All companies have a preferred profile for the type of driver that is profitable for them. A good example of a profitable customer could be a mature driver, is a homeowner, and has a high credit rating. A driver who fits that profile receives the best rates and as a result will probably pay quite a bit less when switching companies.

Consumers who don’t measure up to the requirements will be charged higher rates which usually ends up with business going elsewhere. The ad wording is “drivers who switch” not “people who quote” save money. That is how companies can truthfully state the savings. That is why you should get quotes from several different companies. It’s not possible to predict which company will provide you with the cheapest rates.

For more reading

More tips and info about car insurance is available at the Nevada Division of Insurance website. Visitors are able to file complaints about a company, learn about specific coverages, learn about insurance regulations, and read industry bulletins.

The articles below may also help you learn more about car insurance in Nevada

A tidy conclusion

You just learned a lot of tips how to reduce BMW X5 insurance prices online. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. Consumers may even find the best price on car insurance is with some of the smallest insurance companies. Smaller companies often have lower prices on specific markets than the large multi-state companies such as GEICO and State Farm.

When trying to cut insurance costs, do not reduce needed coverages to save money. In too many instances, an accident victim reduced liability limits or collision coverage and learned later that it was a big mistake. The ultimate goal is to purchase a proper amount of coverage for the lowest price, not the least amount of coverage.