Having to pay for expensive insurance in Milwaukee can consume your personal savings and put a big crunch on your finances. Performing a rate comparison is a smart way to make sure you’re not throwing money away.
Unimaginable but true, the vast majority of drivers kept their coverage with the same insurance company for at least the last four years, and virtually 40% of consumers have never compared quotes from other companies. Many consumers in Wisconsin could pocket approximately $370 a year just by shopping around, but they don’t understand how simple it is to find cheaper insurance by shopping around.
Big companies like GEICO, Progressive and Allstate constantly blast consumers with catchy ads and it is challenging if not impossible to see through the deception and do the work needed to find the best deal.
It’s a good habit to do rate comparisons at least once a year due to the fact that insurance prices change frequently. Just because you had the best deal on BMW X5 eDrive insurance in Milwaukee last year other companies may now be cheaper. Don’t believe everything you read about X5 eDrive insurance on the internet, but in this article, you’re going to get some great ideas on how to lower your insurance premiums.
Just remember that obtaining a wide range of quotes helps you find a lower rate than you’re paying now.
The companies shown below provide free rate quotes in Milwaukee, WI. If multiple providers are shown, it’s highly recommended you click on several of them to find the most affordable car insurance rates.
Car insurance is an important decision
Even though it can be expensive, insurance is not optional due to several reasons.
- The majority of states have compulsory liability insurance requirements which means the state requires specific minimum amounts of liability if you want to drive legally. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your vehicle, it’s most likely the lender will require you to carry insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank may buy a policy for your BMW for a much higher rate and require you to pay for the expensive policy.
- Car insurance protects not only your car but also your financial assets. Insurance will also pay for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability coverage also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your X5 eDrive definitely exceed the price paid, especially if you ever need it. An average driver in America is overpaying more than $869 every year so you should quote and compare rates at every policy renewal to ensure rates are inline.
Get cheaper BMW X5 eDrive insurance in Milwaukee with discounts
Some companies don’t list the entire discount list in a way that’s easy to find, so below is a list some of the best known and also the more inconspicuous credits available to lower your premiums when you buy Milwaukee car insurance online.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can reduce accidents so companies give up to a 10% discount.
- Onboard Data Collection – Milwaukee drivers who agree to allow driving data submission to track their driving habits through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system might get better premium rates if they have good driving habits.
- Active Military Service – Having a family member in the military may qualify for rate reductions.
- Discount for Life Insurance – If the company offers life insurance, you could get a discounted price on car insurance if you buy life insurance from them.
- Discount for Low Mileage – Low mileage vehicles could earn better premium rates on cars that stay parked.
Drivers should understand that some credits don’t apply to the entire cost. The majority will only reduce specific coverage prices like medical payments or collision. Despite the appearance that adding up those discounts means a free policy, nobody gets a free ride.
Larger car insurance companies and their offered discounts are:
- The Hartford may offer discounts for good student, driver training, bundle, anti-theft, defensive driver, and air bag.
- American Family offers discounts including good driver, multi-vehicle, defensive driver, Steer into Savings, bundled insurance, good student, and accident-free.
- Progressive policyholders can earn discounts including multi-policy, online quote discount, good student, online signing, and homeowner.
- Travelers has savings for payment discounts, new car, student away at school, good student, multi-car, early quote, and hybrid/electric vehicle.
- Farmers Insurance offers discounts for mature driver, homeowner, electronic funds transfer, bundle discounts, pay in full, alternative fuel, and youthful driver.
- USAA may have discounts that include safe driver, new vehicle, loyalty savings, multi-policy, vehicle storage, and annual mileage.
- Liberty Mutual offers premium reductions for preferred payment discount, newly retired, multi-policy, newly married, new move discount, and good student.
If you need lower rates, check with all the companies which discounts you qualify for. Some credits may not apply to policyholders in every state. If you would like to view companies that offer some of these discounts in Wisconsin, click this link.
Auto insurance agents are professional risk managers
Some consumers prefer to talk to an insurance agent and that is just fine! One of the best bonuses of getting free rate quotes online is that drivers can save money and get cheap insurance quotes and still have a local agent.
Once you complete this quick form, your insurance coverage information is sent to agents in your area who will give you quotes for your coverage. It simplifies rate comparisons since you won’t have to do any legwork because quoted prices will be sent to you. You can find the lowest rates and a licensed agent to talk to. If for some reason you want to get a comparison quote from one company in particular, you just need to jump over to their website and give them your coverage information.
Selecting a insurance company should depend on more than just the quoted price. Any agent in Milwaukee should have no problem answering these questions:
- How much training do they have in personal risk management?
- How many years have they been established?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- What company holds the largest book of business for them?
- Will the agent help in case of a claim?
- Is vehicle mileage a factor when determining depreciation for repairs?
Different types of auto insurance agents in Milwaukee
If you would like to find a local agent, it’s helpful to know the different agency structures that differ in how they can insure your vehicles. Insurance agents in Milwaukee are either independent or exclusive.
Exclusive agencies can only quote rates from one company and examples are American Family, State Farm, and AAA. They are unable to provide prices from multiple companies so they have to upsell other benefits. Exclusive agents receive extensive training in insurance sales and that enables them to sell even at higher rates.
Below are exclusive insurance agents in Milwaukee willing to provide price quote information.
American Family Insurance – Arthur Olszewski Agency Inc.
7400 W Brown Deer Rd – Milwaukee, WI 53223 – (414) 355-5533 – View Map
American Family Insurance – Lorene Hirsch Agency LLC
3927 S 76th St – Milwaukee, WI 53220 – (414) 329-3999 – View Map
Independent Insurance Agencies
Independent insurance agents often have affiliation with several companies and that allows them to write policies with a variety of different insurance companies and find the cheapest insurance rates. To move your coverage to a new company, your policy is moved internally without you having to go to a different agency.
When comparing insurance prices, you will want to compare prices from independent agents to have the most options to choose from.
Shown below are Milwaukee independent agencies that are able to give rate quotes.
Which is the best car insurance?
When quoting and choosing a policy, there really is no best way to insure your cars. Each situation is unique.
These are some specific questions can help discover if your insurance needs might need an agent’s assistance.
- When should my teen driver be added to my policy?
- Do I need to file an SR-22 for a DUI in Wisconsin?
- How much liability insurance is required?
- What is the rate difference between pleasure use and commuting?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Should I rate my BMW X5 eDrive as pleasure use or commute?
- Is my business laptop covered if it gets stolen from my vehicle?
- Who is covered by my policy?
If it’s difficult to answer those questions, you might consider talking to an agent. If you want to speak to an agent in your area, complete this form.
Car insurance coverage specifics
Learning about specific coverages of your policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.
Liability coverage provides protection from damage that occurs to people or other property that is your fault. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/10 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a total limit of $10,000 for damage to vehicles and property.
Liability can pay for claims like bail bonds, medical services, repair costs for stationary objects and attorney fees. How much coverage you buy is up to you, but consider buying as high a limit as you can afford. Wisconsin state law requires minimum liability limits of 25/50/10 but it’s recommended drivers buy more liability than the minimum.
Coverage for collisions
This coverage pays for damage to your X5 eDrive resulting from a collision with another car or object. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for things such as hitting a parking meter, hitting a mailbox and crashing into a ditch. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Another option is to choose a higher deductible on your X5 eDrive to bring the cost down.
Uninsured/Underinsured Motorist (UM/UIM)
This gives you protection when the “other guys” do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your BMW X5 eDrive.
Since many Wisconsin drivers have only the minimum liability required by law (25/50/10 in Wisconsin), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage pay for expenses such as chiropractic care, funeral costs, pain medications, prosthetic devices and EMT expenses. They can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hitting a bird, hitting a deer, fire damage, theft and damage from getting keyed. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
People leave their current company for any number of reasons including not issuing a premium refund, extreme rates for teen drivers, high prices or even delays in paying claims. It doesn’t matter what your reason, switching car insurance companies is actually quite simple.
When getting Milwaukee car insurance quotes online, never buy lower coverage limits just to save a few bucks. In many cases, an insured cut liability limits or collision coverage 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 lowest possible cost, but do not skimp to save money.
A few companies do not offer online rate quotes and these regional insurance providers sell through independent agencies. Discount BMW X5 eDrive insurance is possible online as well as from independent agents in Milwaukee, and you should be comparing both to have the best selection.
Much more information about car insurance in Wisconsin can be found below:
- Information for Teen Drivers (GEICO)
- Who Has Affordable Milwaukee Auto Insurance Rates for Drivers with Good Credit? (FAQ)
- Who Has Affordable Auto Insurance for a Kia Optima in Milwaukee? (FAQ)
- Who Has Affordable Milwaukee Auto Insurance Rates for a Toyota RAV4? (FAQ)
- Who Has Affordable Milwaukee Auto Insurance Quotes for a Honda CR-V? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- Understanding Rental Car Insurance (Insurance Information Institute)
- What if I Can’t Find Coverage? (Insurance Information Institute)