It takes a few minutes, but the best way to find low-cost prices for car insurance rates is to make a habit of regularly comparing prices from companies in Lubbock.
- It will benefit you to learn about coverages and the modifications you can make to keep rates low. Many policy risk factors that result in higher prices such as high-risk driving behaviors and an unacceptable credit score can be amended by improving your driving habits or financial responsibility.
- Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO and State Farm, while independent agencies can quote prices for a wide range of insurance providers. Compare rates now
- Compare the price quotes to your existing rates to see if a cheaper price is available. If you find better rates and make a switch, make sure coverage does not lapse between policies.
- Provide proper notification to your current company to cancel your existing policy and submit the signed application along with the required initial payment for the new coverage. Immediately upon receiving it, put the new proof of insurance paperwork in an easily accessible location in your vehicle.
The most important part of shopping around is to use identical deductibles and limits on every quote request and and to get price quotes from as many different companies as possible. Doing this guarantees a fair price comparison and a thorough price selection.
It’s a fact that insurance companies don’t want you to look at other companies. Consumers who shop around for cheaper price quotes will presumably switch companies because there is a high probability of finding a lower rate. Remarkably, a study showed that drivers who routinely shopped for cheaper coverage saved an average of $70 a month compared to drivers who never compared rates.
If finding the most affordable insurance in Lubbock is your ultimate objective, then having some knowledge of how to quote and compare insurance coverage can help you succeed in saving money.
If you are already insured or are looking for a new policy, use these cost-cutting techniques to save money and still have adequate protection. Finding quotes for the most affordable policy in Lubbock is not as hard as you think. You just need to understand the proper way to compare company rates from multiple carriers.
The companies shown below provide price quotes in Lubbock, TX. To buy cheaper auto insurance in Texas, we suggest you visit as many as you can to find the lowest auto insurance rates.
BMW X5 detailed coverage information
The data table shown next covers a range of insurance rates for BMW X5 models. Knowing how prices are determined can help drivers make decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $178 | $312 | $366 | $22 | $110 | $988 | $82 |
| X5 3.5D AWD | $196 | $360 | $366 | $22 | $110 | $1,054 | $88 |
| X5 4.8I AWD | $196 | $360 | $366 | $22 | $110 | $1,054 | $88 |
| X5 M AWD | $234 | $454 | $366 | $22 | $110 | $1,186 | $99 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Price estimates do not factor in garaging location in Lubbock which can change auto insurance rates significantly.
Should you raise deductibles?
The hardest decision when buying coverage is how high should the physical damage deductibles be. The following tables help summarize how much more you’ll pay when you buy lower versus higher deductibles. The first table uses a $250 physical damage coverage deductible and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $370 | $584 | $382 | $22 | $114 | $1,497 | $125 |
| X5 3.5D AWD | $408 | $672 | $382 | $22 | $114 | $1,623 | $135 |
| X5 4.8I AWD | $408 | $672 | $382 | $22 | $114 | $1,623 | $135 |
| X5 M AWD | $484 | $850 | $382 | $22 | $114 | $1,877 | $156 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X5 3.0I AWD | $228 | $368 | $382 | $22 | $114 | $1,114 | $93 |
| X5 3.5D AWD | $252 | $424 | $382 | $22 | $114 | $1,194 | $100 |
| X5 4.8I AWD | $252 | $424 | $382 | $22 | $114 | $1,194 | $100 |
| X5 M AWD | $298 | $534 | $382 | $22 | $114 | $1,350 | $113 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Premium amounts do not factor in your specific Lubbock location which can raise or lower rates noticeably.
Based on the data above, we can derive that using a $250 deductible will cost you roughly $36 more each month or $432 each year averaged for all X5 models than quoting the higher $1,000 deductible. Because you would pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you go at least 21 months between claim filings, you would probably be better off if you decide on a higher deductible. Here is the way you can make this decision for your own policy.
| Average monthly premium for $250 deductibles: | $138 |
| Average monthly premium for $1,000 deductibles (subtract): | – $102 |
| Monthly savings from raising deductible: | $36 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $36 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 21 months |
One big caveat is that raising deductibles to get cheaper rates results in a higher out-of-pocket expense if you have a claim. You should have some funds available in the event you have to pay more for the deductible.
The example below demonstrates how deductible levels and can raise or lower BMW X5 insurance prices for different age categories. The information is based on a single female driver, comprehensive and collision coverage, and no discounts are applied.
Full coverage versus liability only rates
The information below shows the comparison of BMW X5 car insurance rates with full coverage and liability only. The premiums are based on no claims or violations, $250 deductibles, single marital status, and no discounts are applied to the premium.
Should you be buying full coverage?
There is no exact formula to drop full coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your BMW X5 replacement cost is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $4,000 after the deductible is paid. If you are paying over $400 annually to have full coverage, then it might be time to consider dropping full coverage.
There are some circumstances where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Best reasons to buy insurance in Texas
Even though it’s not necessarily cheap to insure a BMW in Lubbock, insurance is mandatory in Texas but it also protects more than you think.
- Almost all states have minimum liability requirements which means state laws require specific minimum amounts of liability coverage in order to get the vehicle licensed. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your vehicle, more than likely the lender will make it a condition of the loan that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank may buy a policy for your BMW for a lot more money and require you to reimburse them for the expensive policy.
- Insurance safeguards both your BMW X5 and your assets. It will also pay for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also covers legal expenses if someone files suit against you as the result of an accident. If you have damage to your BMW as the result of the weather or an accident, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of insuring your X5 definitely exceed the cost, particularly if you ever have a claim. An average driver in America overpays as much as $865 each year so compare quotes from several companies once a year at a minimum to be sure current rates are still competitive.
You Can Change Your Insurance Costs
A large part of saving on insurance is knowing some of the things that help calculate your insurance rates. If you have a feel for what controls the rates you pay, this allows you to make educated decisions that can help you get big savings.
The itemized list below are some of the items companies use to determine your rate level.
Having a spouse pays dividends – Your spouse may cut your premiums on insurance. Marriage is viewed as being more financially stable and statistics prove drivers who are married file infrequent claims.
Get a ticket, pay higher costs – Careful drivers pay lower auto insurance prices than their less careful counterparts. Only having one driving citation may increase your cost to the point where it’s not affordable. Drivers who have gotten flagrant citations such as reckless driving, hit and run or driving under the influence may find that they have to to complete a SR-22 with their state’s department of motor vehicles in order to legally drive a vehicle.
The illustration below illustrates how violations and at-fault fender-benders can drive up BMW X5 yearly insurance costs for different insured age categories. The data assumes a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Never let your insurance expire – Going without insurance is a sure-fire way to bump up your insurance costs. And not only will insurance be more expensive, failure to provide proof of insurance may result in a steep fine or even jail time.
Vocation stress can make you pay more – Did you know that where you work can have an impact on rates? Careers such as military personnel, social workers, and financial analysts generally have higher average rates attributed to high stress and lots of time spent at work. On the other hand, careers such as scientists, historians and homemakers have the lowest average rates.
Deter vehicle theft – Owning a car with anti-theft technology or alarm system can help bring down rates. Theft prevention features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart vehicle theft.
BMW X5 insurance claim data – Companies study historical loss data when setting rates for each model. Vehicles that are shown to have higher claim frequency or loss amount will have increased rates. The next table shows the insurance loss data for BMW X5 vehicles.
For each type of coverage, the claim probability for all vehicles, regardless of make, model or trim level, is a value of 100. Values under 100 suggest a better than average loss history, while numbers above 100 indicate frequent claims or an increased chance of a larger loss.
| Vehicle 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
Cheap BMW X5 insurance in Lubbock
Companies don’t always publicize every available discount in an easy-to-find place, so the list below details both the well known and also the more inconspicuous discounts you could be receiving when you buy Lubbock car insurance online. If you are not receiving all the discounts you qualify for, you’re paying more than you need to.
- Life Insurance Discount – Some car insurance companies give a break if you buy a life insurance policy as well.
- Accident Waiver – Not necessarily a discount, but companies like Progressive and Allstate will let one accident slide without the usual rate increase with the catch being you have to be claim-free for a specific time period.
- Senior Discount – Older drivers could receive lower premium rates.
- Switch and Save Discount – A few larger companies give discounts for renewing your policy prior to your current X5 insurance policy expiration. You can save around 10% with this discount.
- Bundled Policy Discount – If you insure your home and vehicles with one company you could earn a discount of approximately 10% to 15%.
- Driver Education Discount – Have your child successfully complete driver’s ed class as it can save substantially.
- Claim-Free Discount – Drivers with accident-free driving histories have much lower rates when compared with accident-prone drivers.
- Payment Method – By paying your entire bill at once instead of paying each month you can avoid monthly service charges.
It’s important to understand that some of the credits will not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like comp or med pay. Even though the math looks like all the discounts add up to a free policy, you aren’t that lucky. But any discount will help reduce your policy cost.
The information below visualizes the comparison of BMW X5 insurance costs with and without discounts applied to the rates. The rate quotes are based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, homeowner, marriage, claim-free, and safe-driver discounts applied.
Companies that may offer most of the discounts above include:
Double check with all companies you are considering how you can save money. A few discounts may not apply in Lubbock. For a list of companies that offer the discounts shown above in Texas, click here to view.
Buying from insurance agencies
A small number of people just want to have an agent’s advice. Agents can help determine the best coverages and will help you if you have claims. One of the benefits of comparing rate quotes online is that drivers can save money and get better rates and also buy local.
To make it easy to find an agent, after completing this form (opens in new window), the quote information is submitted to companies in Lubbock that can give you free Lubbock car insurance quotes for your business. It’s much easier because you don’t need to contact an agency because prices are sent straight to your inbox. If you want to get a rate quote from one company in particular, you would need to go to their quote page and complete a quote there.
Finding the right insurer needs to be determined by more than just the quoted price. The following questions are important to ask.
- What kind of financial rating does the company have?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- How many companies do they write for?
- Are all drivers listed on the coverage quote?
- What company holds the largest book of business for them?
If you want local Lubbock agents, it’s helpful to know the different types of agents and how they can service your needs differently. Insurance agencies in Lubbock can either be independent agents or exclusive agents. Both types of agents can write policy coverage, but it’s good to learn the difference in the companies they write for because it may have an impact on the selection process.
Exclusive Insurance Agents
Exclusive agencies can only provide one company’s prices and examples are American Family, State Farm, and AAA. These agents are not able to shop your coverage around so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are well trained on the products they sell and that can be a competitive advantage. Consumers frequently purchase coverage from exclusives mostly because of high brand loyalty rather than low rates.
Listed below are exclusive agencies in Lubbock willing to provide price quotes.
- Rick Rosas – State Farm Insurance Agent
6102 82nd St #12b – Lubbock, TX 79424 – (806) 776-3276 – View Map - Farmers Insurance – Victor Rodriguez
2026 82nd St #103 – Lubbock, TX 79423 – (806) 783-0831 – View Map - Roddy Simmons Jr – State Farm Insurance Agent
2124 34th St – Lubbock, TX 79411 – (806) 747-5759 – View Map
Independent Car Insurance Agencies
Agents that elect to be independent often have affiliation with several companies so they can quote policies through lots of different companies and get you the best rates possible. If you want to switch companies, they simply switch companies in-house which requires no work on your part.
If you need lower rates, we recommend you get quotes from several independent agencies to maximize your price options. Many independent agencies also insure through less well-known companies that may provide cheaper car insurance rates.
The following are Lubbock independent agents that are able to give price quote information.
- Cam Fannin Insurance
1810 50th St – Lubbock, TX 79412 – (806) 747-4422 – View Map - Alan Henry Insurance Agency
3405 19th St – Lubbock, TX 79410 – (806) 792-3771 – View Map - Sims-Perrin Insurance
3302 34th St – Lubbock, TX 79410 – (806) 795-4301 – View Map
Auto insurance companies ranked
Ending up with a highly-rated insurance provider can be challenging considering how many companies there are in Lubbock. The company information listed below can help you choose which auto insurers to look at putting your business with.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Compare but don’t skimp
Low-cost BMW X5 insurance in Lubbock can be sourced from both online companies in addition to many Lubbock insurance agents, so you need to quote Lubbock car insurance with both to get a complete price analysis. Some companies may not provide online quoting and usually these smaller providers only sell coverage through local independent agents.
We covered many tips how you can save on BMW X5 insurance in Lubbock. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding affordable BMW X5 insurance quotes. You may even find the most savings is with a small mutual company.
Drivers change insurance companies for a number of reasons such as extreme rates for teen drivers, delays in responding to claim requests, policy non-renewal and high prices. Whatever your reason, finding the right auto insurance provider is easier than you think.
Much more information about auto insurance in Texas is located at these links:
- Coverage Information (Progressive Insurance)
- Who Has Affordable Auto Insurance for Electric Cars in Lubbock? (FAQ)
- What Auto Insurance is Cheapest for a Ford Escape in Lubbock? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Crash Avoidance Technologies FAQ (iihs.org)
- What are my Rights when Filing a Claim? (Insurance Information Institute)