To save the most money, the best way to find affordable BMW M5 insurance in Kansas City is to compare quotes once a year from companies in Missouri.
- Step 1: It will benefit you to learn about auto insurance and the modifications you can make to prevent expensive coverage. Many risk factors that increase rates like distracted driving and your credit history can be amended by paying attention to minor details.
- Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from one company like Progressive or Allstate, while agents who are independent can provide price quotes from multiple insurance companies.
- Step 3: Compare the price quotes to your existing rates and determine if cheaper M5 coverage is available in Kansas City. If you can save some money, make sure there is no coverage gap between policies.
The critical component of shopping around is to use identical coverages on every quote request and and to get rates from every company you can. Doing this guarantees a fair rate comparison and a thorough price selection.
Unbelievable but true according to a study about 70% of customers have been with the same company for four years or more, and almost half have never compared rates to find lower-cost insurance. The average driver in Kansas City could cut their rates by 25% a year just by comparing rates, but they just feel it’s too hard to shop around.
If you have coverage now or just want cheaper coverage, you will benefit by learning to find better prices without reducing protection. Comparing quotes for affordable policy in Kansas City can be fairly easy. Smart buyers only need an understanding of the most time-saving way to buy insurance from many companies at once.
The best way we recommend to compare car insurance rates for BMW M5 insurance in Kansas City utilizes the fact car insurance companies participate in a system to give rate comparisons. The only thing you need to do is provide information such as if you require a SR-22, what you do for a living, the make and model of your vehicles, and level of coverage desired. The rating information is instantly sent to all major companies and they return quotes immediately.
To compare multiple company affordable BMW M5 insurance rates now, click here and find out if lower rates are available in Kansas City.
The providers in the list below provide quotes in Missouri. To buy cheap auto insurance in MO, it’s a good idea that you visit several of them in order to get a fair rate comparison.
Why you need quality insurance for your BMW vehicle
Even though Kansas City M5 insurance rates can get expensive, buying insurance is required in Missouri but it also protects you in many ways.
- Most states have mandatory liability insurance requirements which means you are required to buy specific minimum amounts of liability insurance in order to license the vehicle. In Missouri 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 have a lien on your BMW, almost every bank will stipulate that you have insurance to guarantee loan repayment. If coverage lapses or is canceled, the bank or lender will purchase a policy for your BMW at a much higher premium rate and require you to reimburse them for the expensive policy.
- Insurance safeguards your vehicle and your assets. It will also pay for medical transport and hospital expenses incurred in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance are without a doubt worth the cost, particularly when you have a large claim. According to a 2015 survey, the average American driver overpays more than $850 per year so you should quote your policy with other companies every year to save money.
Rates and information analytics
The rate information shown below showcases a range of insurance costs for BMW M5 models. Having a good grasp of how insurance prices are determined can be of help when making informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $290 | $650 | $250 | $14 | $74 | $1,278 | $107 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Missouri minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rate quotes do not factor in the specific area where the vehicle is garaged which can affect price quotes considerably.
Comparison of policy deductibles
One common question asked by Kansas City drivers is how high should the physical damage coverage deductibles be. The following tables may aid in understanding the costs and benefits when you choose different coverage deductibles. The first data set uses a $250 deductible for comprehensive and collision coverage and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $338 | $656 | $266 | $16 | $80 | $1,381 | $115 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $274 | $528 | $266 | $16 | $80 | $1,164 | $97 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Missouri minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rates do not factor in the specific area where the vehicle is garaged which can lower or raise price quotes greatly.
Based on this data, we can arrive at the conclusion that using a $250 deductible costs about $18 more each month or $216 every year than selecting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you tend to have at a minimum 14 months between claims, you would come out ahead going with the higher deductible.
BMW M5 insurance premiums by gender and age
The information below compares BMW M5 annual premium costs for male and female drivers. The information is based on no claims, a clean driving record, full physical damage coverage, $100 deductibles, single marital status, and no discounts are factored in.
Five discounts for affordable car insurance rates
Some insurers don’t always publicize every policy discount very well, so the below list has both the well known in addition to some of the lesser obvious credits that you can use to lower your rates.
- Passive Restraints and Air Bags – Cars that have air bags or automatic seat belts could see savings of more than 20%.
- Discounts for Government Workers – Simply working for the federal government can save as much as 8% with some car insurance companies.
- Safety Restraint Discount – Forcing all vehicle occupants to use a seat belt could cut 10% or more off the medical payments premium.
- Pay Now and Pay Less – By paying your entire bill at once as opposed to paying monthly you can actually save on your bill.
- Paperwork-free – A few larger companies will give a small break simply for signing online.
It’s important to note that most credits do not apply to the whole policy. A few only apply to individual premiums such as medical payments or collision. Even though it appears it’s possible to get free car insurance, nobody gets a free ride.
The information below visualizes the comparison of BMW M5 insurance costs with and without some available policy discounts. Data assumes a male driver, no driving violations, no at-fault accidents, Missouri state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, multi-policy, safe-driver, and claim-free discounts applied.
Large car insurance companies and some of the premium reductions they offer can be found below.
- State Farm may have discounts that include multiple policy, passive restraint, student away at school, driver’s education, multiple autos, Drive Safe & Save, and Steer Clear safe driver discount.
- Progressive offers discounts including online signing, homeowner, good student, multi-vehicle, online quote discount, multi-policy, and continuous coverage.
- Progressive offers discounts for multi-vehicle, online quote discount, online signing, homeowner, good student, multi-policy, and continuous coverage.
- MetLife includes discounts for multi-policy, defensive driver, good driver, accident-free, good student, claim-free
- Farm Bureau policyholders can earn discounts including renewal discount, multi-vehicle, safe driver, 55 and retired, driver training, good student, and youthful driver.
- GEICO may offer discounts for defensive driver, daytime running lights, membership and employees, five-year accident-free, anti-lock brakes, and good student.
- SAFECO has savings for anti-lock brakes, bundle discounts, teen safety rewards, multi-car, accident prevention training, homeowner, and safe driver.
When quoting, ask every prospective company to apply every possible discount. Some of the earlier mentioned discounts might not be offered in Kansas City. If you would like to view companies with the best BMW M5 insurance discounts in Missouri, click here to view.
When to contact an insurance agency
Many drivers would rather talk to a local agent and that is OK! Good insurance agents can help you choose the best coverages and help submit paperwork. One of the benefits of price shopping on the web is that drivers can save money and get cheap insurance quotes and still have a local agent. And buying from local insurance agents is especially important in Kansas City.
Once you complete this short form, your insurance data is transmitted to agents in your area that provide free Kansas City car insurance quotes for your coverage. You won’t even need to leave your computer since price quotes are sent to you. If you need to compare prices from a particular provider, you would need to navigate to their website and fill out the quote form the provide.
Exclusive agents vs. Independent agents
If you prefer to buy insurance from a local agent, there are two types of insurance agents and how they differ in how they quote coverages. Insurance policy providers can be classified as either exclusive or independent (non-exclusive). Both write insurance policies, but it’s a good idea to understand the difference between them since it can impact buying decisions.
Independent Insurance Agencies
Agents that elect to be independent are not restricted to one company and that gives them the ability to insure with any number of different companies enabling the ability to shop coverage around. If your agent finds better pricing, the business is moved internally and you won’t have to switch agencies. If you are comparing rate quotes, you should always get several quotes from several independent agencies for the best price selection. A lot of them also have access to less well-known companies which may have better rates.
The following are independent insurance agencies in Kansas City that may be able to give you cheap rate quotes.
- SIMONE Insurance Agency, LLC
7138 N Norton Ave – Kansas City, MO 64119 – (816) 739-8995 – View Map - Nestel Insurance Agency
9233 Ward Pkwy #124 – Kansas City, MO 64114 – (816) 361-6442 – View Map - Bargain Insurance Connection
2635 NE Vivion Rd – Kansas City, MO 64119 – (816) 453-7722 – View Map
Exclusive Insurance Agencies
Agents that choose to be exclusive have only one company to place business with like State Farm, AAA, and Liberty Mutual. These agents are not able to provide rate quotes from other companies so they have no alternatives for high prices. Exclusive agents are well schooled on their company’s products which helps them compete with independent agents. Drivers often use the same exclusive agent partially due to high brand loyalty rather than having the cheapest rates.
Shown below are Kansas City exclusive agents willing to provide rate quotes.
- American Family Insurance – Jeff Woody
1300 NW Vivion Rd – Kansas City, MO 64118 – (816) 459-8010 – View Map - State Farm: Bret Ohlhausen
8549 N Church Rd – Kansas City, MO 64157 – (816) 781-4960 – View Map - Allen Jones – State Farm Insurance Agent
8900 Wornall Rd – Kansas City, MO 64114 – (816) 361-6362 – View Map
Picking the best insurance agent needs to be determined by more than just the premium amount. Any good agent in Kansas City should know the answers to these questions.
- Is coverage determined by price?
- What company holds the largest book of business for them?
- How long has their agency been open in Kansas City?
- Are they involved in claim handling?
- Are they full-time agents?
- What are the financial ratings for the companies they represent?
- Are there any extra charges for paying monthly?
- Do they offer claims assistance after hours?
Auto insurance 101
Having a good grasp of your auto insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy.
Liability car insurance
Liability insurance will cover damage that occurs to other people or property. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 25/50/10 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and $10,000 of coverage for damaged property. Another option is a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things like medical services, pain and suffering and loss of income. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible. Missouri requires minimum liability limits of 25/50/10 but it’s recommended drivers buy higher limits.
The illustration below demonstrates why low liability limits may not be high enough to cover claims.
Comprehensive protection
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims such as theft, damage from getting keyed and hail damage. The maximum amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Medical expense coverage
Coverage for medical payments and/or PIP provide coverage for expenses for things like nursing services, ambulance fees, doctor visits and prosthetic devices. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage
Collision protection
This coverage will pay to fix damage to your M5 from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision coverage pays for things such as rolling your car, sideswiping another vehicle, hitting a mailbox, crashing into a ditch and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to raise the deductible on your M5 to save money on collision insurance.
Uninsured or underinsured coverage
This provides protection when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits (Missouri limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Usually these limits do not exceed the liability coverage limits.
Frequent quotes can save
Consumers change insurance companies for any number of reasons including questionable increases in premium, delays in responding to claim requests, poor customer service or denial of a claim. Regardless of your reason, switching companies can be less work than you think.
Cheaper BMW M5 insurance in Kansas City is attainable online as well as from independent agents in Kansas City, so you need to shop Kansas City car insurance with both to have the best chance of lowering rates. Some auto insurance companies do not provide the ability to get a quote online and many times these smaller providers sell through independent agents.
We just presented a lot of tips how to get a better price on BMW M5 insurance in Kansas City. The key thing to remember is the more quotes you get, the better your chances of lowering your premium rates. You may even be surprised to find that the lowest car insurance rates come from some of the smallest insurance companies.
More information can be found at the links below
- Smart Auto Insurance Tips (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Drivers with Bad Credit in Kansas City? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Honda Accord in Kansas City? (FAQ)
- Airbag FAQ (iihs.org)
- Collision Insurance Coverage (Nationwide)
- Rental Reimbursement Coverage (Allstate)