2012 BMW 5 Series Gran Turismo Car Insurance Cost – 9 Savings Tips

Are you at wits end from sacrificing to insure your BMW every month? You’re in the same situation as millions of other vehicle owners. Having so many choices, it can be hard to choose a lower cost insurance company.

It’s a great practice to get comparison quotes periodically since insurance prices are rarely the same from one policy term to another. If you had the best rates for 5 Series Gran Turismo insurance six months ago you can probably find a better premium rate now. Block out anything you think you know about insurance coverage because we’re going to demonstrate the fastest way to find better coverage at a better price.

Car insurance companies offer many discounts

Some companies don’t always advertise every discount in an easy-to-find place, so we researched both well-publicized and also the more inconspicuous discounts you could be receiving when you buy insurance coverage online.

  • Discount for New Cars – Putting insurance on a new car can save you some money because newer vehicles have to meet stringent safety requirements.
  • Safety Restraint Discount – Drivers who require all vehicle occupants to buckle up before driving can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
  • Online Discount – Some insurance companies give back up to $50 shop insurance coverage over the internet.
  • ABS Brakes – Cars that have anti-lock braking systems have fewer accidents and earn discounts up to 10%.
  • Drive Less and Save – Keeping the miles down on your BMW can qualify you for slightly better car insurancerates than normal.
  • Service Members Pay Less – Having a family member in the military could qualify you for better car insurance rates.
  • Student Driver Training – Require your teen driver to participate in a local driver’s education class if it’s offered in school.
  • Policy Bundle Discount – If you insure your home and vehicles with one insurance company you may earn at least 10 to 15 percent or more.
  • Discounts for Good Drivers – Drivers who avoid accidents can save as much as half off their rates for 5 Series Gran Turismo insurance compared to rates paid by drivers with frequent claims.

A little note about advertised discounts, most of the big mark downs will not be given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though it sounds like it’s possible to get free car insurance, companies don’t profit that way. But any discount should help reduce your car insurance premiums.

Car insurance companies who might offer these discounts are:

Before you buy a policy, ask each insurance company how many discounts you can get. Some discounts may not be offered in every state. To view companies that offer the discounts shown above, click here.

Do I just need basic coverages?

When choosing proper insurance coverage for your personal vehicles, there really is no one size fits all plan. Everyone’s situation is a little different so this has to be addressed. For example, these questions might point out whether your personal situation would benefit from an agent’s advice.

  • What discounts do I qualify for?
  • Are my friends covered when driving my 2012 BMW 5 Series Gran Turismo?
  • Do I need added coverage for expensive stereo equipment?
  • Am I covered if I hit a deer?
  • Should I drop comprehensive coverage on older vehicles?
  • Is my vehicle covered by my employer’s policy when using it for work?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.

Car insurance coverage breakdown

Learning about specific coverages of your policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring. Below you’ll find the normal coverages found on the average car insurance policy.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for expenses for things like ambulance fees, pain medications and rehabilitation expenses. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Collision protection

This pays to fix your vehicle from damage caused by collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like backing into a parked car, sideswiping another vehicle, hitting a mailbox and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Comprehensive insurance

This covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as vandalism, hail damage, a tree branch falling on your vehicle, damage from flooding and fire damage. The highest amount your car insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability

This coverage will cover injuries or damage you cause to people or other property. This insurance protects YOU from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.

Liability can pay for claims such as attorney fees, repair costs for stationary objects, medical services and emergency aid. The amount of liability coverage you purchase is your choice, but you should buy as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and damage to your BMW 5 Series Gran Turismo.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.

Buy online or local, you save

You just read a lot of techniques to lower your 2012 BMW 5 Series Gran Turismo insurance rates. The key thing to remember is the more companies you get auto insurance rates for, the better your chances of lowering your auto insurance rates. You may be surprised to find that the biggest savings come from a smaller regional carrier. These smaller insurers often have lower auto insurance rates on specific markets than the large multi-state companies such as Progressive or GEICO.

Budget-friendly car insurance can be sourced both online and with local insurance agents, so you need to shop insurance coverage with both to have the best chance of lowering rates. Some insurance providers do not offer rates over the internet and these regional insurance providers only sell through independent agents.

For more information, take a look at the resources below: