Sadly, over 70% of Ohio drivers renewed their policy with the same company for at least the last four years, and almost half have never compared rate quotes at all. U.S. drivers can save hundreds of dollars each year by just comparing quotes, but most tend to underestimate the amount of money they would save if they just switched companies.
Really, the only way to get more affordable BMW X5 eDrive insurance is to start comparing rates regularly from companies in Columbus.
- Step 1: Spend a few minutes and learn about what coverages are included in your policy and the changes you can make to keep rates low. Many rating factors that result in higher rates like inattentive driving and a bad credit rating can be improved by making small lifestyle or driving habit changes. This article gives more ideas to lower rates and get additional discounts that may be available.
- Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like GEICO or State Farm, while agents who are independent can provide rate quotes from multiple companies. Select a company
- Step 3: Compare the new rate quotes to your current policy premium and see if you can save money. If you find better rates and buy the policy, make sure coverage does not lapse between policies.
The most important part of shopping around is that you use similar deductibles and liability limits on every quote request and and to get rate quotes from all possible companies. Doing this helps ensure a level playing field and a better comparison of the market.
There are several ways to compare quotes from insurance companies in your area. The easiest way by far to compare BMW X5 eDrive insurance prices is simply to get online rate quotes.
It’s important to know that comparing all the rates in your area helps improve the odds of finding a lower rate than you’re paying now.
The companies shown below are ready to provide free quotes in Ohio. If multiple companies are shown, it’s highly recommended you visit two to three different companies in order to find the most competitive rates.
Lower rate quotes by taking advantage of these seven discounts
Car insurance is neither fun to buy or cheap, but you might be missing out on some discounts that many consumers don’t even know exist. Some trigger automatically when you quote, but some need to be specially asked for before you will receive the discount.
- Own a Home and Save – Owning your own home or condo can get you a discount since owning and maintaining a home requires a higher level of personal finance.
- Clubs and Organizations – Belonging to qualifying employment or professional organizations could earn you a nice discount when shopping for car insurance.
- Smart Student Discounts – Performing well in school may save as much as 25% on a Columbus car insurance quote. The good student discount can last up until you turn 25.
- Discounts for Safe Drivers – Drivers who avoid accidents can save up to 40% or more on their Columbus car insurance quote than drivers with accidents.
- Include Life Insurance and Save – Car insurance companies who offer life insurance give a discounted rate on car insurance if you buy life insurance.
- Defensive Driver Discount – Successfully completing a class that teaches safe driver techniques can save you 5% or more and easily pay for the cost of the class.
- Government Employees – Simply working for the federal government could cut as much as 10% off but check with your company.
Discounts save money, but please remember that some credits don’t apply to the entire policy premium. The majority will only reduce individual premiums such as physical damage coverage or medical payments. So even though it sounds like you can get free auto insurance, you won’t be that lucky. But all discounts will definitely lower your policy cost.
Some companies that may offer quotes with these money-saving discounts include:
If you want low cost Columbus car insurance quotes, ask each company how you can save money. All car insurance discounts may not be offered in every state.
Independent versus exclusive insurance agencies
Some consumers would rather get professional advice from a licensed agent and that can be a smart move One of the best bonuses of comparing rate quotes online is you can get lower rates and still choose a local agent.
Upon completion of this short form, your information is immediately sent to participating agents in Columbus that give free quotes for your insurance coverage. There is no reason to visit any agencies since price quotes are sent to you instantly. It’s the lowest rates AND an agent nearby. If for some reason you want to quote rates from a specific insurance provider, don’t hesitate to find their quoting web page and complete a quote there.
Finding the right company should include more criteria than just the bottom line cost. Here are some questions to ask:
- Which company do they place the most coverage with?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Can they give you a list of client referrals?
- How much experience to they have in personal lines coverages?
- How often do they review coverages?
- Will a damage claim use OEM or aftermarket replacement parts?
- Which family members are covered?
Exclusive or Independent: There is a difference
If you are wanting to find a good Columbus insurance agent, it’s helpful to know the different types of agents and how they can service your needs differently. Agents in Columbus can be classified as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
Exclusive agents can usually just insure with one company such as Farmers Insurance, State Farm, or Allstate. They are unable to place coverage with different providers so they are skilled at selling on more than just price. Exclusive insurance agents are very knowledgeable on the products they sell and that can be a competitive advantage. Many people buy from exclusive agents mostly because of high brand loyalty rather than low rates.
The following are exclusive agents in Columbus that are able to give rate quotes.
- Russell A Popp – State Farm Insurance Agent
2844 Johnstown Rd – Columbus, OH 43219 – (614) 471-5557 – View Map
- Jack Gilkerson – State Farm Insurance Agent
4232 E Main St – Whitehall, OH 43213 – (614) 237-4256 – View Map
- Gary Bepler – State Farm Insurance Agent
3246 Noe Bixby Rd – Columbus, OH 43232 – (614) 837-4379 – View Map
Independent Agencies or Brokers
These type of agents can quote rates with many companies and that enables them to quote your coverage through lots of different companies and find the cheapest insurance rates. If they quote lower rates, your agent can switch companies which requires no work on your part. If you are comparing insurance prices, you definitely need to compare quotes from multiple independent agents to have the best price comparison. They also have the ability to place coverage with less well-known companies which can be an advantage.
Listed below are independent insurance agents in Columbus that can give you comparison quotes.
- IHT Insurance Agency Group LLC
655 Metro Pl S Suite 330 – Dublin, OH 43017 – (614) 761-2825 – View Map
- Nationwide Insurance: Sylvia A Garrett Insurance Agency Llc
1 W Nationwide Blvd – Columbus, OH 43215 – (614) 249-2141 – View Map
- Wolfe Insurance Group
630 E Broad St – Columbus, OH 43215 – (614) 418-5710 – View Map
Once you have positive responses to these questions and a good coverage price, it’s possible that you found a car insurance agent that meets the requirements to properly insure your vehicles.
Why you need insurance for your BMW X5 eDrive
Despite the high insurance cost for a BMW X5 eDrive in Columbus, insurance serves a purpose in several ways.
- Almost all states have mandatory insurance requirements which means you are required to buy a specific minimum amount of liability coverage if you want to drive legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your X5 eDrive has a lienholder, more than likely the lender will stipulate that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may insure your BMW at a more expensive rate and force you to pay the higher premium.
- Insurance safeguards both your car and your assets. It will also provide coverage for medical transport and hospital expenses incurred in an accident. Liability coverage, the one required by state law, also covers legal expenses if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your X5 eDrive more than offset the price you pay, particularly for liability claims. Despite what companies tell you, the average driver is currently overpaying as much as $810 a year so compare quotes from several companies at every policy renewal to ensure rates are competitive.
Auto insurance 101
Having a good grasp of your insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy.
This coverage can cover damage or injury you incur to people or other property that is your fault. This insurance protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged property.
Liability coverage pays for claims like loss of income, bail bonds, court costs, structural damage and funeral expenses. How much coverage you buy is a personal decision, but you should buy as much as you can afford. Ohio state minimum liability requirements are 25/50/25 but you should consider buying better liability coverage.
The next chart shows why buying minimum limits may not provide adequate coverage.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your BMW X5 eDrive.
Since a lot of drivers only purchase the least amount of liability that is required (Ohio limits are 25/50/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.
Comprehensive coverage (or Other than Collision)
This coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as a tree branch falling on your vehicle, hail damage, damage from flooding and hitting a deer. The maximum amount your insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance kick in for bills for things like EMT expenses, surgery, dental work and nursing services. They are often used in conjunction with a health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Collision insurance pays for damage to your X5 eDrive caused by collision with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like crashing into a ditch, backing into a parked car, hitting a mailbox, colliding with a tree and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also increase the deductible on your X5 eDrive to save money on collision insurance.
Quote more and you will save more
We covered a lot of information how to find cheaper BMW X5 eDrive insurance in Columbus. The most important thing to understand is the more quotes you get, the higher your chance of finding cheaper Columbus car insurance quotes. You may even discover the biggest savings come from some of the smallest insurance companies.
When buying insurance coverage, don’t be tempted to buy less coverage just to save a little money. There are many occasions where an accident victim reduced comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase plenty of coverage at the best price while not skimping on critical coverages.
Lower-priced BMW X5 eDrive insurance in Columbus is definitely available online and from local agencies, and you need to price shop both in order to have the best chance of saving money. Some insurance providers do not provide online rate quotes and these regional carriers sell through independent insurance agencies.
To read more, link through to the following helpful articles:
- Older Driver Statistics (Insurance Information Institute)
- Who Has Cheap Car Insurance Quotes for a Jeep Wrangler in Columbus? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers Over Age 50 in Columbus? (FAQ)
- How Much are Auto Insurance Quotes for a Chevrolet Equinox in Columbus? (FAQ)
- Who Has Cheap Auto Insurance for Nurses in Columbus? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Information for Teen Drivers (GEICO)
- Comprehensive Coverage (Liberty Mutual)
- Credit Impacts Car Insurance Rates (State Farm)