If you want to save money, the best way to find cheaper auto insurance rates is to compare prices regularly from insurers who provide car insurance in Oakland.
Step 1: Get an understanding of how insurance works and the steps you can take to prevent expensive coverage. Many policy risk factors that result in higher rates such as traffic citations and a less-than-favorable credit history can be amended by making minor changes in your lifestyle. Read the full article for more information to find cheap prices and find additional discounts.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from many different companies.
Step 3: Compare the price quotes to your existing coverage to see if cheaper X5 coverage is available in Oakland. If you find a lower rate and change companies, make sure there is no lapse in coverage.
A crucial key to this process is to try to compare similar limits and deductibles on each price quote and and to get rates from as many car insurance companies as possible. This provides a fair price comparison and and a good selection of different prices.
It’s easy to assume that car insurance companies don’t want policyholders to compare prices from other companies. Consumers who shop around for cheaper price quotes will most likely buy a new policy because there is a great chance of finding a lower-priced company. Remarkably, a study showed that drivers who made a habit of comparing rate quotes saved as much as $72 a month compared to policyholders who never shopped around for lower prices.
If finding the cheapest price for BMW X5 insurance is the reason you’re here, knowing how to get free comparison quotes and analyze insurance rates can make it easier for you to save money.
Auto insurance providers offering low-cost rates in California
The following companies provide free rate quotes in California. To find cheap car insurance in California, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
Insurance coverage analysis
The coverage information shown next highlights detailed analysis of policy rates for BMW X5 models. Having insight into how insurance policy premiums are established helps drivers make decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $368 | $672 | $416 | $24 | $124 | $1,604 | $134 |
| X5 3.5D AWD | $406 | $774 | $416 | $24 | $124 | $1,744 | $145 |
| X5 4.8I AWD | $406 | $774 | $416 | $24 | $124 | $1,744 | $145 |
| X5 M AWD | $482 | $976 | $416 | $24 | $124 | $2,022 | $169 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Premium costs do not factor in your specific Oakland location which can influence prices considerably.
The diagram below shows how choosing a deductible and can raise or lower BMW X5 yearly insurance costs for each different age category. The premiums are based on a married male driver, full coverage, and no additional discounts are factored in.
Does it make sense to buy full coverage?
The chart below visualizes the comparison of BMW X5 annual premium costs with liability coverage only compared to full coverage. Data assumes no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
Should you be buying full coverage?
There is no exact formula to delete physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your BMW X5 book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after the policy deductible has been paid. If you are paying more than $300 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping full coverage is not a good idea. If you still have a lienholder on your title, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Decisions You Make Can Impact Your Insurance Prices
Lots of things are taken into consideration when quoting car insurance. Some factors are common sense like a motor vehicle report, although some other factors are not as apparent such as your marital status or how financially stable you are. The best way to find cheaper car insurance is to take a look at a few of the rating criteria that are used to determine your premiums. When you know what positively or negatively controls the rates you pay, this enables you to make decisions that may reward you with lower rates.
Shown below are a partial list of the pieces used by companies to determine your rate level.
Being married brings a discount – Having a significant other helps lower the price on your car insurance policy. Marriage generally demonstrates drivers are more mature and responsible it has been statistically shown that married drivers tend to have fewer serious accidents.
Better prices for being claim-free – Auto insurance companies in California provide the best rates to insureds who do not file claims often. If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Your insurance policy is intended for the large, substantial claims.
How your age affects prices – Older insureds are shown to be more cautious, tend to file fewer claims, and usually have better credit. Young drivers have been known to be inattentive when driving so they pay higher car insurance rates.
The following data uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
Females tend to take less risk – Over time, data shows that females tend to be a little less risky than males. However, don’t assume that males are worse at driving than females. Women and men tend to get into accidents at about the same rate, but men cause more damage and cost insurance companies more money. In addition to higher claims, males also have more aggressive citations like DUI and reckless driving.
The illustration below compares BMW X5 insurance premiums for male and female drivers. The premiums are based on no tickets, no at-fault accidents, full coverage, $500 deductibles, single marital status, and no additional discounts are factored in.
Insurance loss probability for a BMW X5 – Insurers use past loss statistics for each vehicle to help determine rates. Models that the data determines to have higher claim amounts or frequency will cost more for coverage.
The information below illustrates the insurance loss data for BMW X5 vehicles. For each coverage category, the loss probability for all vehicles, as a total average, is considered to be 100. Percentage numbers below 100 suggest a better than average loss history, while values that are 100 or greater indicate a higher chance of having a claim or larger claims.
| Specific BMW 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 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Slash rates with these money saving discounts
Auto insurance is expensive, but you may qualify for discounts that could help you make your next renewal payment. Some discounts apply automatically when you quote, but some discounts are required to be specially asked for before being credited.
- Save over 55 – If you qualify as a senior citizen, you may be able to get a small discount on rates.
- Payment Method – If you pay your bill all at once as opposed to paying monthly you can avoid the installment charge.
- No Claim Discounts – Drivers with accident-free driving histories have much lower rates in comparison with accident-prone drivers.
- College Student Discount – Youth drivers who attend college more than 100 miles from Oakland and leave their car at home can be insured at a reduced rate.
- Waiver for an Accident – Not necessarily a discount, but some insurance companies will forgive one accident without getting socked with a rate hike with the catch being you have to be claim-free for a specific time period.
- Passive Restraints – Factory air bags or motorized seat belts may get savings of up to 25% or more.
- Bundle and Save – If you can bundle your homeowners and auto insurance with the same company you could save up to 20% and get you low cost BMW X5 insurance.
- Defensive Driver Discount – Taking a class that teaches defensive driver techniques could save 5% or more and easily pay for the cost of the class.
- Multi-Vehicle Discounts – Buying coverage for primary and secondary vehicles with the same company can reduce the rates for all insured vehicles.
As a sidenote, most credits do not apply to the entire cost. Most cut the cost of specific coverages such as comp or med pay. So even though they make it sound like all the discounts add up to a free policy, it’s just not the way it works. But all discounts should definitely cut the cost of your policy.
The information below illustrates the comparison of BMW X5 insurance costs with and without discounts applied to the premium. The costs are based on a female driver, no accidents, no driving violations, California 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 safe-driver, homeowner, multi-policy, marriage, claim-free, and multi-car discounts applied.
Some companies who might offer most of the discounts above include:
It’s a good idea to ask all companies you are considering to give you their best rates. Discounts might not apply in your state. If you would like to choose from a list of insurance companies that offer discounts in Oakland, click this link.
Local neighborhood Oakland car insurance agents
Some people still like to visit with an insurance agent and there is nothing wrong with that. The biggest benefit of getting free rate quotes online is you may find the best rates and still have a local agent. Buying insurance from neighborhood agents is important particularly in Oakland.
After completing this short form, your information is immediately sent to companies in Oakland that provide free Oakland car insurance quotes for your auto insurance coverage. It makes it easy because there is no need to contact any agents as quotes are delivered directly to your email. You can get cheaper auto insurance rates and an insurance agent to talk to. If you need to get a comparison quote from one company in particular, you can always visit that company’s website and fill out the quote form the provide.
If you want to buy auto insurance from an insurance agent, it’s important to understand the types of insurance agents and how they operate. Auto insurance policy providers are either independent or exclusive.
Independent Agents (or Brokers)
Agents that choose to be independent are not employed by one company and that is an advantage because they can write policies through many companies and potentially find a lower price. If your premiums go up, an independent agent can move your coverage and that require little work on your part.
When searching for an agent, you need to include price quotes from several independent agencies in order to have the best price comparison.
The following is a short list of independent insurance agencies in Oakland that may be able to give you free price quotes.
All Purpose Insurance Agency
5857 MacArthur Blvd – Oakland, CA 94605 – (510) 382-1900 – View Map
Ruth Stroup Insurance Agency
3560 Grand Ave – Oakland, CA 94610 – (510) 874-5700 – View Map
Nationwide Insurance: Ruby Joyce Barnett
440 Grand Ave #450 – Oakland, CA 94610 – (510) 251-3800 – View Map
Exclusive Auto Insurance Agents
Exclusive agents can only quote rates from one company such as Allstate, State Farm and Farm Bureau. They generally cannot shop your coverage around so they have no alternatives for high prices. Exclusive agents are well schooled on their company’s products which can be an advantage.
Listed below is a short list of exclusive agencies in Oakland willing to provide comparison quotes.
Farmers Insurance – Mike Clauson
859 Clay St – Oakland, CA 94607 – (510) 839-3276 – View Map
Farmers Insurance – Mahir Abdul-Haqq
4267 Masterson St – Oakland, CA 94619 – (510) 530-8502 – View Map
Farmers Insurance: Howard Ruud
5956 MacArthur Blvd – Oakland, CA 94605 – (510) 635-0608 – View Map
Finding the right insurance agency should depend on more than just a cheap quote. Get answers to these questions too.
- Where would glass claims be handled in Oakland?
- What company do they have the most business with?
- Is there a Errors and Omissions policy in force?
- Does the agency have a good rating with the Better Business Bureau?
- If your car is totaled, how to they determine the replacement cost?
- Are they giving you every discount you deserve?
If you receive good responses for all questions you ask as well as offering an affordable quote, you’ve probably found an auto insurance agent that is reliable enough to insure your vehicles. Just be aware that policyholders can terminate your policy for any reason so don’t feel that you are permanently stuck with a specific company for a certain time period.
Insurance agents can help
Keep in mind that when it comes to choosing adequate coverage for your personal vehicles, there really isn’t a “best” method to buy coverage. Everyone’s situation is unique so this has to be addressed.
For instance, these questions might point out whether or not you may require specific advice.
- Does coverage extend to Mexico or Canada?
- Is my babysitter covered when using my vehicle?
- Do I need PIP (personal injury protection) coverage in California?
- How do I insure my teen driver?
- Do I need an umbrella policy?
- Do I have coverage for damage caused while driving under the influence?
- Are my company tools covered if they get stolen?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier
Cheap auto insurance premiums are possible
When searching for affordable Oakland car insurance quotes, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped liability coverage limits only to discover later they didn’t have enough coverage. Your goal should be to purchase a proper amount of coverage at the best price, not the least amount of coverage.
The cheapest BMW X5 insurance in Oakland can be purchased both online in addition to local insurance agencies, so you need to quote Oakland car insurance with both to have the best rate selection. Some companies do not provide rates over the internet and usually these small, regional companies sell through independent agents.
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- Who Has Cheap Car Insurance Quotes for Drivers Over Age 50 in Oakland? (FAQ)
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- What Auto Insurance is Cheapest for Drivers Requiring a SR22 in Oakland? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Auto Insurance for Teen Drivers (Insurance Information Institute)