Lower Your 2016 BMW 5 Series Gran Turismo Insurance Rates

Searching for better insurance rates for your BMW 5 Series Gran Turismo? Paying for high-priced BMW 5 Series Gran Turismo insurance can drain your funds and force you to prioritize other expenses. There is such a variety of insurance companies to purchase coverage from, and though it is a good thing to have a selection, too many choices makes it more difficult to compare company pricing.

It’s a good habit to get comparison quotes periodically since prices go up and down regularly. Just because you had the best quotes for 5 Series Gran Turismo coverage a year ago a different company probably has better rates today. Forget all the misinformation about insurance because you’re going to learn how to use the internet to find lower rates on insurance.

Choosing the best insurance company for you is not that difficult. If you currently have car insurance, you will most likely be able to cut costs considerably using these methods. Drivers just need to know the tricks to compare price quotes over the internet.

How your 5 Series Gran Turismo insurance premiums are determined

It’s important that you understand some of the things that are used to determine the level of your policy premiums. If you understand what controls the rates you pay, this empowers consumers to make smart changes that will entitle you to much lower annual insurance costs. Multiple criteria are taken into consideration when pricing auto insurance. Some factors are common sense like a motor vehicle report, but some are not quite as obvious such as your credit history or your financial responsibility.

The itemized list below are a partial list of the pieces used by insurance companies to determine your rates.

  • Excellent credit equals lower rates – An insured’s credit score factor in determining what you pay for insurance. If your credit history is not that good, you could save money insuring your 2016 BMW 5 Series Gran Turismo if you improve your credit rating. Consumers who have high credit ratings tend to file fewer claims and have better driving records than drivers who have lower credit scores.
  • Companies want multiple policies – Lots of insurers apply better rates for people who carry more than one policy in the form of a multi-policy discount. The discount can add up to ten percent or more. Even with this discount applied, it’s still a good idea to check prices from other companies to help ensure you have the lowest rates.
  • High comp and collision deductibles save money – Deductibles for physical damage are how much you are willing to pay if a covered claim is submitted. Physical damage protection, also called comprehensive and collision insurance, covers damage that occurs to your car. Some instances where coverage would apply could be a windshield broken by a bird, animal collisions, or theft of your vehicle. The higher the amount you choose to pay out-of-pocket, the lower your rates will be for 5 Series Gran Turismo coverage.
  • Drive less and save – The higher the miles on your BMW each year the more you’ll pay to insure your vehicle. A lot of companies price each vehicle’s coverage partially by how you use the vehicle. Cars that have low annual miles can be on a lower rate level than cars that get driven a lot. Having the wrong rating on your 5 Series Gran Turismo may be wasting your money. It’s always a good idea to double check that your declarations sheet shows the correct usage.
  • Don’t get traffic citations – Just one chargable violation can boost insurance rates by as much as twenty percent. Good drivers pay lower auto insurance prices than people who have multiple driving citations. Drivers who have gotten severe tickets such as DUI, reckless driving or excessive speeding may face state-mandated requirements to prove financial responsibility with their state’s licensing department in order to continue driving.
  • Additional coverages that may be costing you – Insurance policies have a lot of extra coverages that you can get tricked into buying if you don’t pay attention. Coverages for replacement cost coverage, towing, and extra equipment coverage are probably not needed. The coverages may be enticing when deciding what coverages you need, but if they’re wasting money eliminate them to save money.
  • Alarms and GPS tracking lower premiums – Choosing to buy a car with a theft deterrent system can save you a little every year. Theft deterrent systems such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can help prevent vehicle theft.
  • Reserve policy claims for larger damages – Auto insurance companies provide better rates to policyholders who are claim-free. If you are a frequent claim filer, you can look forward to increased rates or even have your policy non-renewed. Your insurance policy is intended for major claims that would cause financial hardship.

Ways to get auto insurance quotes

Getting a more affordable price on 2016 BMW 5 Series Gran Turismo insurance can be surprisingly simple. The only thing you need to do is take the time comparing rate quotes to see which company has cheap car insurance quotes. Rate comparisons can be done in just a few minutes using one of these methods.

  • Experts agree that the best way consumers can make multiple comparisons is an all-inclusive rate comparison (click to open form in new window). This easy form keeps you from doing separate quotation requests for each price estimate. One form gets prices estimates from multiple low-cost companies.
  • A more time consuming way to analyze rates requires visiting each company website and fill out a new quote form. For sake of this example, we’ll pretend you want comparison quotes from Geico, Safeco and Travelers. In order to compare rates, you need to spend time on each company’s site and punch in your information repeatedly, which can be really labor intensive.

    For a list of links to insurance companies in your area, click here.

Take whichever approach you prefer, but be certain you are entering exactly the same information on every price quote you get. If you compare different deductibles it will be impossible to truly determine the lowest rate.

Get affordable car insurance with discounts

Some insurers don’t list every policy discount very well, so below is a list some of the best known as well as some of the hidden car insurance savings.

  • Professional Organizations – Joining a professional or civic organization could trigger savings when shopping for car insurance.
  • Discounts for Cautious Drivers – Accident-free drivers can get discounts for up to 45% lower rates for 5 Series Gran Turismo coverage than less cautious drivers.
  • Payment Discounts – If you pay your bill all at once instead of paying each month you may have a lower total premium amount.
  • Lower Rates for Military – Having a family member in the military could trigger a small discount.
  • Paperwork-free – Some companies will give a small break for buying a policy and signing up over the internet.
  • Student Discounts – Performing well in school can save 20 to 25%. This discount can apply well after school through age 25.
  • First Accident Forgiveness – Not a discount per se, but some insurance companies permit an accident before they charge you more for coverage so long as you are claim-free prior to the accident.
  • Seat Belt Usage – Drivers who require all occupants to fasten their seat belts can save a little on the premium charged for medical payments and/or PIP.
  • No Claims – Drivers who don’t have accidents are rewarded with significantly better rates on car insurance quote when compared with insureds who have frequent claims or accidents.
  • Drive Less and Save – Keeping the miles down on your BMW could be rewarded with discounted premium rates on garaged vehicles.

Discounts reduce rates, but you should keep in mind that some of the credits will not apply to all coverage premiums. Most only cut the cost of specific coverages such as collision or personal injury protection. Even though it may seem like adding up those discounts means a free policy, companies don’t profit that way.

A list of car insurance companies and their offered discounts include:

  • Geico offers premium reductions for anti-theft, anti-lock brakes, air bags, defensive driver, military active duty, and driver training.
  • Travelers offers discounts for payment discounts, home ownership, save driver, multi-car, IntelliDrive, continuous insurance, and multi-policy.
  • Farm Bureau may have discounts that include driver training, good student, renewal discount, safe driver, multi-vehicle, and youthful driver.
  • Liberty Mutual has discounts for preferred payment discount, new move discount, newly married, multi-policy, and new vehicle discount.
  • American Family policyholders can earn discounts including good student, bundled insurance, Steer into Savings, TimeAway discount, air bags, early bird, and defensive driver.
  • Progressive has savings for multi-vehicle, multi-policy, online signing, good student, and online quote discount.

Before purchasing a policy, check with all the companies to apply every possible discount. Some of the earlier mentioned discounts may not apply to policyholders in every state. If you would like to view providers with the best discounts, follow this link.

Tailor your auto insurance coverage to you

When buying the right insurance coverage for your personal vehicles, there really is not a perfect coverage plan. Everyone’s situation is a little different so this has to be addressed. For example, these questions may help highlight if your situation may require specific advice.

  • Can I afford low physical damage deductibles?
  • How can I get my company to pay me more for my totalled car?
  • Am I covered when driving a rental car?
  • Should I buy additional glass protection?
  • What happens if I owe more than my 2016 BMW 5 Series Gran Turismo is worth?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • I have a DUI can I still get coverage?
  • Is my camper covered by my car insurance policy?
  • Do I need replacement cost coverage?

If you can’t answer these questions but you know they apply to you then you might want to talk to an agent. To find an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.

Detailed coverages of your auto insurance policy

Having a good grasp of auto insurance can help you determine appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are typical coverage types found on the average auto insurance policy.

Collision insurance

This coverage covers damage to your 5 Series Gran Turismo resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against claims such as scraping a guard rail, colliding with another moving vehicle, colliding with a tree, driving through your garage door and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Coverage for medical payments

Med pay and PIP coverage provide coverage for immediate expenses such as rehabilitation expenses, X-ray expenses and pain medications. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to you and your occupants as well as getting struck while a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

Coverage for liability

Liability coverage can cover damages or injuries you inflict on a person or their property. It protects YOU from claims by other people, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits 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 a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for claims such as attorney fees, medical expenses and emergency aid. How much liability coverage do you need? That is up to you, but you should buy as high a limit as you can afford.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your 2016 BMW 5 Series Gran Turismo.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.

Comprehensive coverages

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like theft, hail damage, vandalism, hitting a bird and damage from flooding. The most your auto insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

One last thing

We just covered a lot of ways to save on 2016 BMW 5 Series Gran Turismo insurance. The key concept to understand is the more providers you compare, the higher your chance of finding low cost car insurance. Consumers may even find the most savings is with a company that doesn’t do a lot of advertising. Regional companies may have significantly lower prices on certain market segments compared to the large companies like Allstate and Progressive.

A few companies may not offer internet price quotes smaller providers only sell through independent insurance agencies. Discount 2016 BMW 5 Series Gran Turismo insurance can be purchased on the web and from local agencies, so you should be comparing quotes from both so you have a total pricing picture.

As you restructure your insurance plan, do not buy lower coverage limits just to save a few bucks. In many instances, someone sacrificed full coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to find the BEST coverage for the lowest price and still be able to protect your assets.

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Comments About 2016 BMW 5 Series Gran Turismo Insurance

  1. Yasmin Lowery

    Corporate greed I’m telling you. I live on the west side of New York City, NY. I quoted with AIG Insurance, Esurance, and Mercury for my 5 Series Gran Turismo and I’m now saving $16 a month. Wish I didn’t have to insure at all.

  2. Vida Burke

    Liked the article. I’m in Anchorage, AK. I don’t recall every quote but I ended up saving about $60 each month. I recommend comparing lots of rates.

  3. Tomi Mccormick

    Not sure what I should be paying. I’m in Bismarck, ND. Quoted quotes with 21st Century, Eastwood, and Liberty Mutual for my BMW and saved just over $260 a year. Left Eastwood to switch. I have a teen driver too.

  4. Merle Alston

    Cheap car insurance? What’s that? I’m in the east part of Tampa, FL. I got free prices from State Farm, AAA, Esurance, and Hanover for my 2016 BMW 5 Series Gran Turismo and I think I cut my rates about $60 each month. Left The General to switch.

  5. Kitty Hopper

    I live in a small town just outside of Frederick, MD. Quoted prices online for a 2016 BMW 5 Series Gran Turismo. Ended up at about $150 savings annually. Went with State Farm.

  6. Rene Chambers

    Liked the article. Live in Rockford, IL. Quoted with 21st Century, Amica, and some I forget for my 5 Series Gran Turismo and saved just over $400 a year. It’s easy to compare rates online now.

  7. Jeannie Hayden

    I’m in Aurora, Illinois and for me 21st Century had the lowest quote. Was with The General. Teenage drivers are expensive!

  8. Lowell Miles

    Like your site, BTW. Lifelong resident of Seattle, Washington. I don’t recall every quote but I ended up saving about $30 each month. It never hurts to quote around.

  9. Arlie Rojas

    Will State Farm cancel me for an at-fault accident?

  10. Venita Sloan

    My 2016 BMW 5 Series Gran Turismo is faster than yours.

  11. Debbie Foster

    Here’s what I found out. Proud to be from Detroit, MI. I got free quotes with Nationwide, Esurance, State Farm, and Auto-Owners for my 2016 BMW 5 Series Gran Turismo and saved just over $140 a year. I have several vehicles insured with them.

  12. Cris Dudley

    This is too expensive. Live in Missoula, MT. Got car insurance rates from Amica, Sentry, and a few others for my BMW and saved $436 a year. Was with Mercury. Highly recommended.

  13. Vickie Rhodes

    Does Progressive insure after a DUI?