Cheaper 2015 BMW 5 Series Gran Turismo Insurance Cost

Nobody I know likes paying for car insurance, especially knowing they could get a better deal.

You have so many car insurance companies to pick from, and although it’s a good thing to have a selection, so many choices can make it hard to find a good deal.

Finding affordable coverage is not rocket science. In a nutshell, every driver who is shopping for insurance should be able to find better rates. But drivers do need to understand how the larger insurance companies determine prices.

How to lower your car insurance cost

To find the best car insurance rates, there are several ways to compare rate quotes from many different insurance companies. The best way to lower the rate you pay for 2015 BMW 5 Series Gran Turismo insurance is to get quotes online. This is very easy and can be done by using one of the methods below.

  1. The best way to find the lowest comparison rates would be an industry-wide quote request form like this one (opens in new window). This method eliminates the need for separate quote forms for each price estimate. One simple form gets insurance cost estimates from several companies.
  2. A less efficient way to find lower rates consists of going to each company’s website and repeat the quote process again and again. For instance, let’s assume you want rates from Liberty Mutual, 21st Century and Progressive. To get each rate you have to spend time on each company’s site and enter your information, which is why the first method is quicker.

    To view a list of companies in your area, click here.

  3. The least efficient and most time consuming method of comparing rate quotes is to drive around to insurance agencies in your area. Shopping for car insurance online can eliminate the need for a local agent unless you want the professional assistance of an agent trained in personal lines coverage. Although you can comparison shop your insurance online and still use a local agent.

The method you choose is up to you, but make absolute certain that you use exactly the same coverage limits and deductibles for every quote you compare. If you are comparing different liability limits it will be impossible to make an equal comparison. Just slight variations in insurance coverages could throw off the whole comparison. It’s important to know that having more price comparisons helps improve the odds of finding a lower rate than you’re paying now.

Insurance price influencing factors

A large part of saving on insurance is knowing some of the things that play a part in calculating your premiums. If you know what determines premiums, this empowers consumers to make smart changes that could help you find lower rates. Many factors are taken into consideration when quoting car insurance. A few of the factors are predictable such as your driving history, but other criteria are less apparent like where you live or how financially stable you are.

Shown below are a partial list of the pieces that factor into prices.

  • Companies want multiple policies – Most major insurers allow better rates to customers who have multiple policies with them. It’s known as a multi-policy discount. Even if you qualify for this discount already, consumers should still compare other insurance prices to verify if the discount is saving money.
  • Lower rates for married couples – Getting married can actually save you money on your insurance bill. Marriage generally demonstrates drivers are more mature and responsible and statistics prove being married results in fewer claims.
  • Costs increase with policy add-ons – There are a ton of optional add-on coverages that you can get tricked into buying if you aren’t diligent. Coverages like roadside assistance, high-cost glass coverage, and Farm Bureau memberships are examples of these. These may sound like a good investment initially, but now you might not need them so remove them and pocket the money.
  • Where do you drive? – The more you drive your BMW every year the more you will pay for insurance. Many insurance companies price each vehicle’s coverage based on how the vehicle is used. Cars left parked in the garage receive better premium rates than vehicles that have high annual mileage. Ask your agent if your declarations sheet is rated on the correct usage for each vehicle, because improper ratings can cost you money. Improper usage on your 5 Series Gran Turismo may be costing you.
  • Is you occupation costing you more? – Did you know your occupation can influence how much you pay for insurance? Careers like military personnel, social workers and miners tend to pay higher rates than average because of intense work situations and long work hours. Other professions such as scientists, historians and the unemployed get better rates on 5 Series Gran Turismo coverage.

Take advantage of these money-saving discounts

Car insurance can cost a lot, but there are discounts available that can help lower your rates. Certain discounts will be triggered automatically when you quote, but some discounts are required to be inquired about before being credited.

  • Passenger Safety Discount – Vehicles equipped with air bags or motorized seat belts can receive discounts of up to 25% or more.
  • Include Life Insurance and Save – Select insurance coverage companies reward you with a break if you buy a life insurance policy as well.
  • Multiple Policy Discount – If you can combine your homeowners and auto policy with the same company they may give you a discount of at least 10 to 15 percent or more.
  • Discounts for Government Workers – Having worked for a branch of the government could provide a small rate reduction on 5 Series Gran Turismo coverage with a few insurance coverage companies.
  • Discounts for Multiple Vehicles – Buying insurance for multiple cars on one policy may reduce the rate for each vehicle.
  • Defensive Driver Discounts – Successfully completing a safe driver course could possibly earn you a 5% discount depending on where you live.

We need to note that most credits do not apply to the entire cost. Some only apply to specific coverage prices like comprehensive or collision. Despite the appearance that you could get a free insurance coverage policy, companies wouldn’t make money that way.

Some companies that may offer these money-saving discounts are:

If you need lower rates, check with each company how you can save money. Some discounts might not be available to policyholders in your area. If you would like to view insurers who offer insurance coverage discounts, click here.

Do I need special coverages?

When choosing the right insurance coverage, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s so this has to be addressed. Here are some questions about coverages that can aid in determining if your situation could use an agent’s help.

  • Does my personal policy cover me when driving out-of-state?
  • Do I have any recourse if my insurance company denies a claim?
  • Can I afford to buy a different vehicle if my 2015 BMW 5 Series Gran Turismo is totaled?
  • Is a blown tire covered by insurance?
  • Am I covered when driving a rental car?
  • Does my policy pay for OEM or aftermarket parts?
  • Why does it cost so much to insure a teen driver?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you don’t have a local agent, take a second and complete this form or you can also visit this page to select a carrier

Car insurance coverage options for a BMW 5 Series Gran Turismo

Knowing the specifics of car insurance helps when choosing the right coverages and proper limits and deductibles. Car insurance terms can be difficult to understand and coverage can change by endorsement. Shown next are the normal coverages available from car insurance companies.

Collision coverage protection

Collision coverage covers damage to your 5 Series Gran Turismo resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like crashing into a building, hitting a parking meter, colliding with another moving vehicle and scraping a guard rail. This coverage can be expensive, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Uninsured or underinsured coverage

This coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your BMW 5 Series Gran Turismo.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses such as doctor visits, pain medications, EMT expenses and hospital visits. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available and may carry a deductible

Liability insurance

This coverage provides protection from injuries or damage you cause to other’s property or people in an accident. It protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability insurance covers things like court costs, repair bills for other people’s vehicles and structural damage. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford.

Comprehensive protection

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like falling objects, damage from getting keyed, hail damage, rock chips in glass and vandalism. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Smart shoppers get results

As you shop your coverage around, never skimp on coverage in order to save money. In many cases, drivers have reduced collision coverage and found out when filing a claim they didn’t purchase enough coverage. Your goal is to buy the best coverage you can find at the lowest possible cost, but don’t skip important coverages to save money.

Cost effective 2015 BMW 5 Series Gran Turismo insurance is available on the web and with local insurance agents, and you should compare rates from both to have the best chance of lowering rates. Some insurance providers do not provide rates over the internet and these regional insurance providers only sell through independent agents.

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