A recent survey discovered that almost 70% of insureds in Florida kept buying from the same company for more than four years, and nearly the majority have never compared rate quotes at all. Drivers in the U.S. could save $860 every year, but most tend to underestimate how much savings they would realize if they changed companies.
Truthfully, the best way to get budget BMW X5 eDrive insurance is to regularly compare price quotes from insurers who sell insurance in Tampa.
- First, try to understand how companies set rates and the things you can control to keep rates down. Many risk factors that result in higher rates like tickets, at-fault accidents, and a low credit score can be eliminated by making minor changes in your lifestyle. Continue reading for more details to get affordable coverage and get additional discounts.
- Second, request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO or State Farm, while independent agencies can quote rates for a wide range of insurance providers.
- Third, compare the new rate quotes to your current policy to see if a cheaper rate is available in Tampa. If you can save money and decide to switch, ensure coverage does not lapse between policies.
A valuable tip to remember is that you'll want to make sure you compare similar deductibles and liability limits on each quote request and and to look at as many carriers as you can. This provides a fair rate comparison and a complete price analysis.
Finding the cheapest car insurance coverage in Tampa is quite easy if you know the best way to do it. If you currently have a car insurance policy, you should be able to reduce premiums using this strategy. Shoppers just need to understand the most efficient way to compare rates from many companies at once.
The car insurance companies shown below are ready to provide free rate quotes in Tampa, FL. To buy the cheapest auto insurance in FL, we recommend you get price quotes from several of them in order to find the cheapest rates.
Check for these eight discounts on BMW X5 eDrive insurance in Tampa
Some companies don't list all available discounts in a way that's easy to find, so we break down both well-publicized and also the lesser-known savings tricks you should be using when you buy Tampa auto insurance online.
- Low Mileage - Low mileage vehicles could earn substantially lower rates.
- Student in College - Youth drivers who attend college more than 100 miles from Tampa and don't have a car can receive lower rates.
- Telematics Data - Tampa drivers who agree to allow their insurance company to look at where and when they drive through the use of a telematics system such as Snapshot from Progressive or Drivewise from Allstate could possibly reduce rates if they have good driving habits.
- Club Memberships - Being in qualifying clubs or civic groups could trigger savings when getting a Tampa auto insurance quote.
- Theft Deterrent System - Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems help deter theft and can earn a small discount on your policy.
- Full Payment Discount - By paying your entire bill at once rather than paying in monthly installments you can avoid the installment charge.
- Good Driver Discount - Drivers who don't get into accidents can save up to 40% or more on their Tampa auto insurance quote compared to rates paid by drivers with frequent claims.
- Multiple Policy Discount - If you have multiple policies and insure them both with the same insurance company you could get a discount of approximately 10% to 15%.
A quick disclaimer, some of the credits will not apply to the entire cost. A few only apply to specific coverage prices like medical payments or collision. Even though the math looks like you could get a free auto insurance policy, auto insurance companies aren't that generous. Any amount of discount will bring down the amount you have to pay.
Auto insurance companies that possibly offer most of the discounts above include:
If you need the cheapest BMW X5 eDrive rate quotes, ask each insurance company how many discounts you can get. Some discounts might not be offered on policies in every state. To see a list of insurance companies that offer many of these discounts in Tampa, click this link.
Three reasons to not skimp on auto insurance
Even though it can be expensive, insuring your vehicle is a good idea for several reasons.
- Just about all states have mandatory liability insurance requirements which means the state requires specific limits of liability if you don't want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your X5 eDrive with a loan, it's most likely the lender will require that you have comprehensive coverage to guarantee their interest in the vehicle. If you default on your policy, the lender may insure your BMW at a significantly higher premium and force you to pay the higher price.
- Insurance protects both your BMW X5 eDrive and your personal assets. It also can pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability coverage also covers all legal expenses up to the policy limit in the event you are sued. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance greatly outweigh the cost, especially with large liability claims. But the average American driver overpays as much as $855 a year so it's important to compare rates once a year at a minimum to be sure current rates are still competitive.
Florida car insurance company ratings
Insuring your vehicle with a highly-rated car insurance company is hard considering how many companies there are in Tampa. The ranking information in the lists below can help you analyze which car insurance providers to look at comparing prices from.
Top 10 Tampa Car Insurance Companies Ranked by Customer Satisfaction
- USAA - 91%
- AAA Insurance - 90%
- Esurance - 90%
- Mercury Insurance - 89%
- Nationwide - 89%
- Travelers - 88%
- Progressive - 88%
- Safeco Insurance - 88%
- State Farm - 88%
- Allstate - 88%
Top 10 Tampa Car Insurance Companies by A.M. Best Rank
- Travelers - A++
- USAA - A++
- GEICO - A++
- State Farm - A++
- Titan Insurance - A+
- Esurance - A+
- Progressive - A+
- The Hartford - A+
- Allstate - A+
- Nationwide - A+
Comparing prices from local Tampa insurance agencies
A small number of people just prefer to buy from a local agent and that is OK! Professional agents can help determine the best coverages and help you file claims. A nice benefit of comparing car insurance online is you can get cheap car insurance rates and still choose a local agent.
To help locate an agent, after submitting this form (opens in new window), your insurance coverage information gets sent to local insurance agents who can give free rate quotes for your business. It makes it easy because there is no need to do any legwork due to the fact that quote results will go to your email. If you want to get a price quote from a specific company, you would need to jump over to their website to submit a rate quote request.
Deciding on an provider requires you to look at more than just a low price. Some important questions to ask are:
- Is the quote a firm price?
- Will the agent help in case of a claim?
- Does the agency have a positive business rating?
- Where would glass claims be handled in Tampa?
- Are they actively involved in the community?
- By raising physical damage deductibles, how much would you save?
- Will their companies depreciate repairs to your car based on the mileage?
If you prefer to buy car insurance from a reputable insurance agent or broker, you must know there are a couple different types of agencies that you can choose from. Insurance agencies in Tampa can be classified as either exclusive or independent agents depending on their company appointments. Both types of agents can do a good job, but we need to point out how they are different because it can impact your selection of an agent.
Exclusive Car Insurance Agents
These type of agents have only one company to place business with and some examples include Allstate and State Farm. Exclusive agents cannot provide rate quotes from other companies so you need to shop around if the rates are high. Exclusive insurance agents are highly trained on their products and sales techniques and that allows them to sell at a higher price point.
Listed below are Tampa exclusive insurance agencies who may provide you with price quotes.
These type of agents are appointed with more than one company so as a result can place your coverage with lots of companies and get you the best rates possible. If they find a lower price, they can switch companies in-house and that require little work on your part. When searching for an agent, you will want to get rate quotes from several independent insurance agents so that you can do a thorough price comparison.
Listed below are Tampa independent insurance agents that can give you rate quotes.
Global FIS - A Full Service Independant Insurance Agency
8710 W Hillsborough Ave #201 - Tampa, FL 33615 - (813) 343-0844 - View Map
Specifics of your auto insurance policy
Knowing the specifics of your policy helps when choosing the right coverages and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverages available from auto insurance companies.
Uninsured/Underinsured Motorist coverage - Your UM/UIM coverage provides protection when other motorists do not carry enough liability coverage. Covered losses include injuries to you and your family and also any damage incurred to your BMW X5 eDrive.
Since many Florida drivers have only the minimum liability required by law (10/20/10 in Florida), their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family.
Coverage for liability - This coverage will cover damages or injuries you inflict on people or other property. This coverage protects you against other people's claims. Liability doesn't cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 10/20/10 which stand for a limit of $10,000 per injured person, a per accident bodily injury limit of $20,000, and property damage coverage for $10,000.
Liability coverage protects against things such as emergency aid, structural damage and repair bills for other people's vehicles. The amount of liability coverage you purchase is up to you, but consider buying higher limits if possible. Florida state law requires minimum liability limits of 10/20/10 but you should think about purchasing higher limits.
The next chart shows why low liability limits may not be adequate coverage.
Collision coverage - Collision insurance covers damage to your X5 eDrive resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like backing into a parked car, hitting a parking meter, scraping a guard rail, hitting a mailbox and crashing into a ditch. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It's also possible to increase the deductible on your X5 eDrive in order to get cheaper collision rates.
Comprehensive coverage - This coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims such as a tree branch falling on your vehicle, fire damage, a broken windshield, hitting a bird and theft. The maximum payout you'll receive from a claim is the market value of your vehicle, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Medical payments coverage and PIP - Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as nursing services, X-ray expenses and doctor visits. The coverages can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible