Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 5, 2015

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Want the cheapest auto insurance rates for your BMW 5 Series Gran Turismo? Are you irritated from scraping nickels together to buy auto insurance? You are in the same boat as many other drivers.

Insurance companies such as State Farm and GEICO continually bombard you with fancy advertisements and it is challenging if not impossible to separate fact from fiction and take the time to shop coverage around.

Consumers should take time to get comparison quotes yearly because insurance prices change quite often. Just because you had the lowest quotes on 5 Series Gran Turismo coverage last year you can probably find a lower rate today. You’ll find quite a bit of inaccurate information about auto insurance on the web, but in a few minutes you can learn some great ideas on how to reduce your auto insurance bill.

Find hidden discounts on insurance coverage

Some insurers don’t always publicize all available discounts very well, so the following list contains both well-publicized and the more hidden credits available to lower your premiums when you buy insurance online.

  • Multi-line Discount – Insurance companies who offer life insurance give a discount if you purchase auto and life insurance together.
  • Discount for Swiching Early – Some larger companies provide a discount for switching companies prior to the expiration date on your current policy. It could save around 10% when you buy insurance online.
  • Accident Free – Good drivers with no accidents are rewarded with significantly better rates on insurance quote compared to accident-prone drivers.
  • Seat Belts Save – Drivers who require all occupants to buckle up could save 15% on medical payment and PIP coverage.
  • Homeowners Pay Less – Owning a home can get you a discount due to the fact that maintaining a home requires a higher level of personal finance.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to sucessfully take a drivers education course in school or through a local driver safety program.
  • Save with a New Car – Adding a new car to your policy is cheaper because newer vehicles are generally safer.
  • Braking Control Discount – Anti-lock brake equipped vehicles have fewer accidents so companies give up to a 10% discount.

Don’t be shocked that most credits do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like liability and collision coverage. Even though the math looks like you can get free auto insurance, company stockholders wouldn’t be very happy. But any discount will help reduce the premium cost.

A list of companies and a summarized list of policyholder discounts can be read below.

  • State Farm offers premium reductions for Drive Safe & Save, multiple autos, Steer Clear safe driver discount, anti-theft, passive restraint, student away at school, and accident-free.
  • GEICO has savings for five-year accident-free, federal employee, defensive driver, multi-policy, air bags, anti-theft, and anti-lock brakes.
  • SAFECO includes discounts for anti-lock brakes, multi-car, drive less, safe driver, homeowner, accident prevention training, and bundle discounts.
  • Farmers Insurance may include discounts for mature driver, early shopping, alternative fuel, switch companies, and youthful driver.
  • AAA may have discounts that include good driver, anti-theft, multi-car, good student, pay-in-full, AAA membership discount, and multi-policy.
  • USAA policyholders can earn discounts including military installation, driver training, new vehicle, defensive driver, family discount, and multi-policy.

When getting a coverage quote, ask each company or agent which discounts you qualify for. All car insurance discounts might not be offered in your area.

Enter your zip code below to view companies that have cheap auto insurance rates.

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How to get low cost insurance

There are several ways to compare insurance prices but one way is easier and takes less work. You can waste a lot of time driving to insurance agencies in your area, or you can utilize online quoting to get pricing more quickly.

Most of the larger companies enroll in a system where insurance shoppers complete one form, and each company provides a quote based on that data. This prevents consumers from doing quotation requests to each individual insurance company. To participate in this free quote system, click here to start a free quote.

The one disadvantage to doing it this way is you don’t know exactly the insurers you want to price. If you wish to select from a list of companies to compare, we have a listing of low cost insurance companies in your area. View list of insurance companies.

The method you choose is up to you, but make absolute certain that you use identical coverages for each comparison quote. If you are comparing different limits and deductibles on each one it’s impossible to make a fair rate comparison. Having just a slight variation in coverages may result in large price differences. And when comparison shopping, making a lot of price comparisons gives you a better chance of getting lower pricing. Some regional insurers cannot provide rate quotes online, so it’s important to also get price quotes from them, too.

Tailor your auto insurance coverage to you

When it comes to buying coverage for your vehicles, there is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. These are some specific questions might point out if your insurance needs might need an agent’s assistance.

  • When should my teen driver be added to my policy?
  • Am I covered when using my vehicle for business?
  • Why do I need rental car insurance?
  • Does my 2013 BMW 5 Series Gran Turismo need full coverage?
  • Can I still get insurance after a DUI?
  • Am I covered if hit by an uninsured driver?
  • Do I pay less if my vehicle is kept in my garage?
  • Will filing a claim cost me more?
  • Do I have coverage when using my vehicle for my home business?
  • How can I find cheaper teen driver insurance?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies.

Insurance coverage considerations

Learning about specific coverages of a insurance policy helps when choosing the right coverages for your vehicles. Insurance terms can be ambiguous and reading a policy is terribly boring. Listed below are the normal coverages found on the average insurance policy.

Comprehensive (Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as a broken windshield, fire damage and damage from flooding. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Coverage for liability

Liability insurance can cover injuries or damage you cause to other people or property. It protects YOU against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.

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 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability coverage protects against things such as repair costs for stationary objects, medical expenses, court costs, structural damage and bail bonds. How much coverage you buy is up to you, but buy as high a limit as you can afford.

Protection from uninsured/underinsured drivers

This protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your BMW 5 Series Gran Turismo.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Collision insurance

This coverage pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as hitting a mailbox, crashing into a building and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

Medical expense insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses for ambulance fees, nursing services, pain medications and chiropractic care. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Enter your zip code below to view companies that have cheap auto insurance rates.

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The best insurance company isn’t always the cheapest

When getting insurance quotes online, you should never skimp on critical coverages to save a buck or two. In too many instances, an insured dropped liability limits or collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your objective should be to purchase plenty of coverage at the lowest possible cost while still protecting your assets.

We covered quite a bit of information on how to shop for 2013 BMW 5 Series Gran Turismo insurance online. It’s most important to understand that the more rate comparisons you have, the better likelihood of getting affordable insurance. Consumers may even find the lowest priced insurance coverage comes from a small local company. These companies may cover specific market segments cheaper than the large multi-state companies such as State Farm or Progressive.

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