How to Compare Madison BMW M5 Insurance

If you want to save money, the best way to find cheaper prices for BMW M5 insurance in Madison is to regularly compare prices from insurance carriers in Wisconsin. This can be done by completing these steps.

An important part of this process is to make sure you enter the same deductibles and limits on each quote and and to get price quotes from as many auto insurance providers as possible. This ensures an accurate price comparison and the best rate selection.

Insurance quote for BMW M5 in MadisonIt goes without saying that insurance companies don’t want their customers to go rate shopping. People who shop around for the cheapest price will most likely switch insurance companies because there is a significant possibility of getting low-cost coverage. A recent insurance study revealed that people who make a habit of shopping around saved approximately $3,400 over four years as compared to drivers who never compared prices.

If finding the lowest price on car insurance is your objective, then having a grasp of how to get free comparison quotes and analyze car insurance can help make the process easier.

The fastest way that we advise to compare car insurance company rates for BMW M5 insurance in Madison takes advantage of the fact all the major auto insurance companies provide online access to give rate comparisons. To start a quote, the only thing you need to do is take a few minutes to give details such as if you have an active license, types of safety features, the make and model of your vehicles, and level of coverage desired. That rating information is submitted instantly to many highly-rated insurers and they provide comparison quotes very quickly.

To start a quote now, click here and enter your zip code.

The companies in the list below provide price quotes in Madison, WI. If multiple companies are listed, we suggest you visit as many as you can to get the most affordable price.

BMW M5 insurance coverage information

The data table displayed below outlines detailed analysis of insurance premium costs for BMW M5 models. Understanding more about how rates are formulated is important for you to make smart choices when buying a car insurance policy.


BMW M5 Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M5 4-Dr Sedan $230 $448 $234 $14 $70 $996 $83
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Prices do not factor in Madison location which can modify coverage prices considerably.

Raise deductibles and save

One of the most common car insurance questions is where should you set your physical damage deductibles. The rates shown below may help to illustrate the differences in premium rates when you choose different physical damage coverage deductibles. The first data set uses a $100 physical damage deductible and the second pricing table uses a $1,000 deductible.


BMW M5 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M5 4-Dr Sedan $326 $676 $230 $14 $68 $1,339 $112
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BMW M5 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
M5 4-Dr Sedan $180 $356 $230 $14 $68 $848 $71
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in vehicle location which can revise prices significantly.

Based on the above data, using a $100 deductible costs an average of $41 more each month or $492 every year than buying the higher $1,000 deductible. Since you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at a minimum 22 months between claim filings, you would probably be better off going with the higher deductible. The table below shows an example of how this determination is made.

Average monthly premium for $100 deductibles: $112
Average monthly premium for $1,000 deductibles (subtract): – $71
Monthly savings from raising deductible: $41
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $41
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 22 months

Buy More Affordable Insurance with These Tips

Part of the insurance buying process is learning some of the factors that come into play when calculating insurance rates. When you know what positively or negatively impacts premium levels, this helps enable you to make changes that will entitle you to better insurance rates.

Shown below are just a few of the factors that factor into rates.

Insurance does more than just repair your car

Despite the high insurance cost for a BMW M5 in Madison, maintaining insurance is required in Wisconsin but also provides important benefits.

The benefits of insuring your car greatly outweigh the cost, especially when you need to use it. Unknowingly, the average driver is wasting up to $825 a year so compare quotes from several companies every year to make sure the price is not too high.