Lower Your 2017 BMW 5 Series Gran Turismo Insurance Quotes

Do you get exhausted from robbing Peter to pay Paul to make your insurance payment? You are in the same boat as many other consumers. With so many choices of insurance companies, it can be impossible to find the most affordable insurer.

Consumers should take time to compare rates at least once a year because insurance prices are rarely the same from one policy term to another. Just because you found the best rates for 5 Series Gran Turismo coverage a couple years back there may be better deals available now. Block out anything you think you know about insurance because I’m going to let you in on the secrets to the things you must know in order to find the best coverage while lowering your premiums.

Buying car insurance is not rocket science. If you have a policy now or are looking for a new policy, you can learn to cut your premiums while maximizing coverage. Consumers just need to learn the proper way to get comparison rates online.

The BMW 5 Series Gran Turismo insurance rate equation

It’s important that you understand the rating factors that play a part in calculating auto insurance rates. If you understand what determines base rates, this enables you to make decisions that can help you get lower premium levels.

The items below are a partial list of the pieces utilized by car insurance companies to help set your prices.

  • Never let your auto insurance expire – Driving without insurance can get you a ticket and any future policy may cost more because you let your insurance coverage expire. And not only will insurance be more expensive, the inability to provide proof of insurance will get you a fine, jail time, or a revoked license. You may need to submit proof of financial responsibility or a SR-22 with your state motor vehicle department.
  • Cheaper rates with high deductibles – Insurance for physical damage, otherwise known as comp (or other than collision) and collision, helps pay for damage to your vehicle. Some examples of covered claims would be collision with another vehicle, flood damage, and damage caused by flying debris. Physical damage deductibles tell how much you are willing to pay out-of-pocket if you file a covered claim. The more damage repair cost you pay before a claim is paid (deductible), the bigger discount you will receive for 5 Series Gran Turismo coverage.
  • Cheaper auto insurance rates using theft deterrents – Buying a car with an alarm system can get you a discount on your auto insurance. Systems that thwart theives like GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder car theft and help bring rates down.
  • Safer vehicles are cheaper to insure – Vehicles that have high safety ratings tend to have better insurance rates. The safest vehicles help reduce the chance of injuries in an accident and lower injury rates translates into savings for insurance companies which can result in lower premiums.
  • Gals tend to take less risk – Over the last 50 years, statistics have shown women are more cautious behind the wheel. It does not mean males are worse at driving than females. Women and men cause accidents in similar numbers, but males get into accidents with more damage. In addition to higher claims, males also get higher numbers of serious violations like reckless driving and DUI.
  • Teenage drivers cost more – Older drivers are more responsible, cause fewer claims and accidents and receive fewer citations.Teen drivers are known to be less responsible behind the wheel and because of this, their auto insurance rates are much higher.
  • Liability protection is important – Liability insurance will provide protection if you are found to be at fault for an accident. Your liability coverage provides legal defense which can cost thousands of dollars. It is affordable coverage when compared with rates for comp and collision, so drivers should carry high limits.

Ways to get auto insurance rate quotes

Performing a rate comparison can be challenging if you don’t understand the fastest way to get free quotes. You can waste hours discussing policy coverages with insurance companies in your area, or you can stay home and use online quoting to get the quickest rates.

Many of the larger companies participate in an industry program that allows shoppers to send in one quote, and every company returns a rated price determined by their information. This eliminates the need for quote forms for each company. To compare rates using this form now click to open in new window.

The only drawback to pricing coverage this way is that you can’t choose which carriers to get pricing from. If you wish to select specific providers to receive pricing from, we have assembled a list of low cost auto insurance companies in your area. View list of insurance companies.

It’s your choice how you get your quotes, but be certain you are entering nearly identical coverage limits and deductibles for every quote you compare. If you have different coverage information it will be very difficult to determine which company has the best rates.

Save $424 a year? Really?

Consumers can’t escape the ads that promise big savings for switching by State Farm and Allstate. They all seem to have a common claim about how much you will save just by switching your insurance policy to them.

How does each company make almost identical claims? It’s all in the wording.

Insurance companies provide the lowest rates for the type of driver that will add to their bottom line. For example, a preferred risk may need to be over the age of 40, has a clean driving record, and has a short commute. A propective insured who meets those qualifications receives the best rates and will most likely save when switching.

Drivers who cannot meet this stringent profile may be forced to pay more expensive rates which translates to business not being written. The ad wording is “drivers that switch” not “everybody who quotes” save that kind of money. This is how insurance companies can confidently make those claims. This really emphasizes why you should do a quote comparison often. It’s just not possible to know with any certainty which company will provide you with the cheapest premium rates.

Car insurance quotes and discounts

Car insurance is not an enjoyable expense, but you may qualify for discounts that many consumers don’t even know exist. Certain discounts will be applied at the time of quoting, but some discounts are required to be specifically requested before they will apply. If you check and find you aren’t receiving every discount you qualify for, you may be paying too high a price.

  • First Accident Forgiveness – Not necessarily a discount, but companies like Allstate and State Farm will allow you to have one accident without getting socked with a rate hike as long as you don’t have any claims for a certain period of time.
  • Drivers Ed for Students – Require your teen driver to take driver’s ed class as it will make them better drivers and lower rates.
  • ABS and Traction Control Discounts – Cars and trucks with ABS braking systems or traction control can reduce accidents and will save you 10% or more.
  • No Claim Discounts – Drivers with accident-free driving histories have much lower rates in comparison to bad drivers.
  • Discounts for Seat Belt Usage – Requiring all passengers to wear their seat belts can save a little on medical payment and PIP coverage.

Just know that many deductions do not apply to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. Despite the fact that it seems like you would end up receiving a 100% discount, nobody gets a free ride. Any amount of discount will positively reduce the amount you pay for coverage.

A partial list of companies that may offer quotes with some of the above discounts may include but are not limited to:

When quoting, ask all the companies which discounts you qualify for. Depending on the company, some discounts may not apply to policyholders in your area.

Situations that may require an agent’s advice

When it comes to choosing adequate coverage for your vehicles, there really is no “perfect” insurance plan. Everyone’s needs are different so this has to be addressed. These are some specific questions could help you determine whether you might need an agent’s assistance.

  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Can I rate high risk drivers on liability-only vehicles?
  • If I drive on a suspended license am I covered?
  • Why do I need rental car insurance?
  • Is my teenager covered with friends in the car?
  • Does my medical payments coverage pay my health insurance deductible?
  • How much can I save by bundling my policies?
  • When should I buy a commercial auto policy?
  • What is an SR-22 filing?
  • What is the rate difference between pleasure use and commuting?

If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Auto insurance coverage basics

Learning about specific coverages of auto insurance helps when choosing which coverages you need for your vehicles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. These are the usual coverages found on the average auto insurance policy.

Comprehensive auto insurance

This will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like damage from a tornado or hurricane, hitting a bird, a tree branch falling on your vehicle, falling objects and a broken windshield. The highest amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Liability auto insurance

This protects you from injuries or damage you cause to people or other property by causing an accident. This insurance protects YOU against claims from other people. It does not cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for claims like repair bills for other people’s vehicles, bail bonds, structural damage, court costs and funeral expenses. How much liability coverage do you need? That is your choice, but buy higher limits if possible.

Coverage for medical expenses

Med pay and PIP coverage reimburse you for short-term medical expenses for things like dental work, EMT expenses, pain medications, funeral costs and prosthetic devices. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover you and your occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision insurance

Collision insurance covers damage to your 5 Series Gran Turismo resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things like colliding with another moving vehicle, crashing into a building, driving through your garage door and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Another option is to bump up the deductible to save money on collision insurance.

Coverage for uninsured or underinsured drivers

Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as damage to your BMW 5 Series Gran Turismo.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important.

Be Smart and Buy Smart

When getting insurance coverage quotes online, do not buy lower coverage limits just to save a few bucks. There have been many situations where an insured dropped comprehensive coverage or liability limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase a proper amount of coverage at the best price, not the least amount of coverage.

Throughout this article, we presented many ideas to save on 2017 BMW 5 Series Gran Turismo insurance. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may even find the lowest priced auto insurance comes from a lesser-known regional company. They can often insure niche markets at a lower cost than their larger competitors like State Farm, GEICO and Nationwide.

More tips and info about auto insurance can be found at these sites: