It's shocking but nearly 70% of consumers have purchased from the same company for four years or more, and nearly half have never compared rates to find cheap insurance. Most drivers in America could save $859 every year by just comparing rate quotes, but they underestimate the amount of money they would save if they replace their high priced policy.
If you want to find the absolute lowest rates, then the best way to get discount auto insurance rates is to compare prices once a year from providers who provide auto insurance in El Paso.
- Step 1: Try to comprehend the different coverages in a policy and the factors you can control to keep rates down. Many rating factors that increase rates like your driving record and a poor credit rating can be remedied by making minor changes in your lifestyle.
- Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give rate quotes from a single company like Progressive or Allstate, while independent agencies can quote prices for a wide range of companies.
- Step 3: Compare the new quotes to your current policy premium to see if cheaper X5 coverage is available. If you find better rates and make a switch, make sure there is no coverage gap between policies.
A good tip to remember is that you'll want to compare the same amount of coverage on every quote and and to get rate quotes from every insurance company. Doing this enables a fair rate comparison and a complete selection of prices.
The fastest way that we advise to compare insurance rates from multiple companies takes advantage of the fact almost all companies participate in online systems to quote your coverage. The only thing you need to do is give them rating details including whether the vehicles are used for commuting, how much coverage you want, if you lease or own, and if it has an anti-theft system. Those rating factors is instantly sent to many different companies and they return quotes instantly to find the best rate.
To check BMW X5 insurance prices now, click here then complete the form.
The companies shown below are our best choices to provide price quotes in El Paso, TX. If multiple companies are listed, it's a good idea that you visit two to three different companies to get the best price comparison.
Discount El Paso car insurance quotes
Companies do not advertise every policy discount in a way that's easy to find, so we took the time to find a few of the more well known and the more hidden ways to save on car insurance. If you aren't receiving every discount you qualify for, you're just leaving money on the table.
- Braking Control Discount - Cars and trucks with ABS braking systems or traction control can stop better under adverse conditions and will save you 10% or more on X5 insurance in El Paso.
- Defensive Driver Discount - Passing a class that teaches defensive driver techniques is a good idea and can lower rates depending on where you live.
- First Accident Forgiveness - This one isn't a discount, but companies like GEICO and Liberty Mutual will let one accident slide before your rates go up if your claims history is clear for a certain period of time.
- Early Renewal Discounts - A few larger companies give discounts for switching companies early. Ten percent is about the average savings.
- Smart Student Discounts - This discount could provide a savings of up to 20% or more. The discount lasts until age 25.
- Onboard Data Collection - Drivers who elect to allow data collection to monitor their driving habits by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease if they have good driving habits.
- Passive Restraints - Cars that have air bags and/or automatic seat belt systems may get savings of 25 to 30%.
- Paper-free Discount - A handful of car insurance companies give back up to $50 for signing up digitally online.
- Discount for New Cars - Putting car insurance coverage on a new X5 can be considerably cheaper since new model year vehicles have better safety ratings.
Discounts lower rates, but some credits don't apply to the whole policy. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. So when it seems like it's possible to get free car insurance, car insurance companies aren't that generous.
The illustration below illustrates the difference between BMW X5 insurance costs with and without some available policy discounts. The price estimates are based on a female driver, no claims or driving violations, Texas state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-car, safe-driver, multi-policy, and claim-free discounts applied.
Some of the larger companies that may offer policyholders these benefits include:
If you are trying to find low cost El Paso auto insurance quotes, ask all the companies which credits you are entitled to. All car insurance discounts may not apply to policies in El Paso. To see providers who offer discounts in Texas, click this link.
BMW X5 insurance charts and tables
The rate table displayed next outlines estimates of insurance coverage prices for BMW X5 models. Being aware of how insurance quotes are calculated can be useful when making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $260 | $368 | $500 | $30 | $150 | $1,308 | $109 |
| X5 3.5D AWD | $288 | $424 | $500 | $30 | $150 | $1,392 | $116 |
| X5 4.8I AWD | $288 | $424 | $500 | $30 | $150 | $1,392 | $116 |
| X5 M AWD | $340 | $534 | $500 | $30 | $150 | $1,554 | $130 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price information does not factor in vehicle garaging location which can affect price quotes greatly.
Higher deductibles save money
One of the more difficult decisions when buying insurance is how high should the physical damage deductibles be. The comparison tables below illustrate how much more rates are between high and low policy deductibles. The first rate table uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $412 | $698 | $382 | $22 | $114 | $1,653 | $138 |
| X5 3.5D AWD | $454 | $804 | $382 | $22 | $114 | $1,801 | $150 |
| X5 4.8I AWD | $454 | $804 | $382 | $22 | $114 | $1,801 | $150 |
| X5 M AWD | $538 | $1014 | $382 | $22 | $114 | $2,095 | $175 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $228 | $368 | $382 | $22 | $114 | $1,114 | $93 |
| X5 3.5D AWD | $252 | $424 | $382 | $22 | $114 | $1,194 | $100 |
| X5 4.8I AWD | $252 | $424 | $382 | $22 | $114 | $1,194 | $100 |
| X5 M AWD | $298 | $534 | $382 | $22 | $114 | $1,350 | $113 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in your specific El Paso location which can modify premium rates noticeably.
Based on these figures, using a $100 deductible costs roughly $51 more each month or $612 for a full year than opting for the higher $1,000 deductible. Because you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at a minimum 18 months between claims, you would come out ahead if you opt for a higher deductible.
How to determine when to raise deductibles
| Average monthly premium for $100 deductibles: | $153 |
| Average monthly premium for $1,000 deductibles (subtract): | - $102 |
| Monthly savings from raising deductible: | $51 |
| Difference between deductibles ($1,000 - $100): | $900 |
| Divide difference by monthly savings: | $900 / $51 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 18 months |
One important caveat is that raising deductibles to get cheaper rates means you will have to pay more when you have a claim. That will require enough extra money in the event you have to pay the deductible to have repairs made.
The illustration below demonstrates how choosing different deductibles and can raise or lower BMW X5 premium costs for different age groups. The data assumes a married female driver, full physical damage coverage, and no discounts are applied.
Insurance rates by age and gender in El Paso
The illustration below shows the difference between BMW X5 insurance rates for male and female drivers. The premiums are based on no claims or driving violations, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are applied to the premium.
Auto insurance agents can help
Many drivers still like to visit with an insurance agent and we recommend doing that Professional agents can make sure you are properly covered and help submit paperwork. The best thing about price shopping on the web is you may find lower auto insurance rates and also buy local.
After filling out this form (opens in new window), the quote information is immediately sent to local insurance agents that provide free El Paso auto insurance quotes for your car insurance coverage. You won't even need to leave your house since price quotes are sent to the email address you provide. If you need to get a rate quote from one company in particular, you would need to visit that company's website and fill out their quote form.
Picking the best company should depend on more than just a low price. Any good agent in El Paso should know the answers to these questions.
- How long has their agency been in business in El Paso?
- Is the agency active in community causes in El Paso?
- What will you get paid if your car is a total loss? How is that amount determined?
- Are they paid to recommend certain coverages?
- When do they do a full risk review?
- Is working in the agency their full-time job?
- Where would your vehicle be repaired?
- Which members of your family are coverage by the policy?
If you want to buy car insurance from an insurance agent, it's important to understand the types of insurance agents and how they are slightly different. Car insurance agents in El Paso are either independent agents or exclusive agents depending on their employer. Both types of agents can provide car insurance policies, but it's good to learn why they differ since it can impact your agent selection.
Exclusive Car Insurance Agencies
Agents in the exclusive channel are contracted to one company and some examples include Allstate, State Farm and Farm Bureau. Exclusive agents cannot place coverage with different providers so you need to shop around if the rates are high. They are very knowledgeable on their company's products which helps offset the inability to provide other markets. Some insured continue to buy insurance from these agents primarily because of the brand legacy and the convenience of having a single billing for all their coverages.
Shown below is a short list of exclusive insurance agencies in El Paso who can help you get rate quotes.
- Allstate Insurance: Eric Kent
5909 N Mesa St - El Paso, TX 79912 - (915) 587-0292 - View Map - Terry Chaumont - State Farm Insurance Agent
11660 Montwood Dr i - El Paso, TX 79936 - (915) 856-1200 - View Map - Jacobo Akle - State Farm Insurance Agent
6065 Montana Ave STE C1 - El Paso, TX 79925 - (915) 775-2553 - View Map
Independent Agencies or Brokers
Independent insurance agents are normally appointed by many insurers so as a result can place your coverage with multiple insurance companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can just switch to a different company and you don't have to do anything.
If you need lower rates, you need to compare quotes from several independent insurance agents to ensure the widest selection of prices. They often place coverage with companies you've never heard of that many times have cheaper rates.
The following is a short list of independent insurance agencies in El Paso willing to provide price quotes.
- Nationwide Insurance: Pinon and Associates Financial Corporation
1515 E Missouri Ave - El Paso, TX 79902 - (915) 857-6890 - View Map - American Agency Insurance
5959 Gateway Blvd W #533 - El Paso, TX 79925 - (915) 772-7766 - View Map - Flor and Associates Insurance Agency
1005 E Yandell Dr - El Paso, TX 79902 - (915) 996-9799 - View Map
After receiving good feedback to your questions and a low price estimate, chances are good that you have found an insurance agency that can service your policy.
Which policy gives me the best coverage?
When it comes to choosing the best insurance coverage for your vehicles, there is no single plan that fits everyone. Your situation is unique.
These are some specific questions can aid in determining whether you might need professional guidance.
- Do I benefit by insuring my home with the same company?
- I have health insurance so do I need medical payments coverage?
- Does having multiple vehicles earn me a discount?
- Do I have any recourse if my insurance company denies a claim?
- Do I need PIP coverage since I have good health insurance?
- Is business equipment covered while in my vehicle?
- What discounts do I qualify for?
- Will my insurance pay for OEM parts?
- Does my insurance cover damage caused when ticketed for reckless driving?
If you don't know the answers to these questions then you might want to talk to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It is quick, free and can provide invaluable advice.
How Your X5 Insurance Costs are Determined
Many things are taken into consideration when you get your auto insurance bill. Some are obvious like an MVR report, but some are not quite as obvious such as your credit history or how safe your car is. One of the most helpful ways to save on car insurance is to to have a grasp of some of the factors that help determine your premiums. If you have a feel for what positively or negatively impacts your premiums, this enables informed choices that can earn you better car insurance rates.
The factors shown below are a few of the things used by insurance companies to determine prices.
- Five star IIHS safety rating saves money - Vehicles with good safety scores tend to be cheaper to insure. These vehicles help reduce the chance of injuries in an accident and any reduction in injury severity means less money paid by your insurance company which can result in lower premiums. If the BMW X5 scored better than an "acceptable" rating on the Insurance Institute for Highway Safety website it may cost less to insure.
- Liability insurance safeguards assets - Liability coverage is the protection if you are determined to be liable for damages from an accident. It provides legal defense coverage which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so drivers should make sure they buy enough to cover all assets.
- Your stress level may be raising your rates - Do you work in a high-stress field? Occupational choices like lawyers, air traffic controllers, and miners have higher rates than the rest of us due to job stress and lengthy work days. On the flip side, occupations such as professors, historians and the unemployed receive lower rates.
- Annual miles is a factor - The more you drive each year the more it will cost to insure it. A lot of companies charge rates based upon how much you drive. Autos that are left in the garage can get a lower rate than cars that get driven a lot. An incorrectly rated X5 is throwing money out the window. Ask your agent if your vehicle rating shows how each vehicle is driven.
Insurance losses for a BMW X5 - Companies take into consideration insurance loss statistics for every vehicle to calculate a rate that will offset any claims. Models that have higher prevalence or dollar amount of losses will have increased rates. The table below demonstrates the historical insurance loss data for BMW X5 vehicles.
For each policy coverage type, the claim amount for all vehicles, as a total average, is considered to be 100. Numbers below 100 suggest a better than average loss history, while percentage numbers above 100 point to more frequent losses or statistically larger claims.
BMW X5 Insurance Loss Statistics 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Three reasons to insure your vehicle
Even though it's not necessarily cheap to insure a BMW in El Paso, insurance is required for several reasons.
First, just about all states have minimum liability requirements which means you are required to carry a specific level of liability if you drive a vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you bought your vehicle with a loan, it's guaranteed your bank will require you to buy full coverage to guarantee loan repayment. If you default on your policy, the bank may buy a policy for your BMW at an extremely high rate and force you to reimburse them the higher premium.
Third, insurance preserves not only your BMW X5 but also your assets. Insurance will pay for medical transport and hospital expenses that are the result of an accident. Liability insurance will also pay for a defense attorney in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of insuring your X5 more than offset the price you pay, particularly when you have a large claim. The average driver in America is overpaying more than $855 a year so we recommend shopping around every year to make sure the price is not too high.
In the end, you can save money
You just read some good ideas how you can find cheaper BMW X5 insurance in El Paso. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting affordable El Paso auto insurance quotes. Consumers could even find that the best price on insurance is with some of the smallest insurance companies.
Cost effective BMW X5 insurance is definitely available from both online companies in addition to local insurance agencies, and you should compare rates from both to have the best rate selection. There are still a few companies who may not offer online rate quotes and many times these smaller companies only sell coverage through independent insurance agents.
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. Too many times, an accident victim reduced comprehensive coverage or liability limits only to regret at claim time that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage at the best possible price and still be able to protect your assets.
More detailed insurance information is available by following these links:
- Choosing a Car for Your Teen (State Farm)
- Eight Auto Insurance Myths (Insurance Information Institute)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)