2016 BMW 5 Series Gran Turismo Car Insurance Cost – 6 Policy Discounts

Want better insurance rates for your BMW 5 Series Gran Turismo? Shopping for discount insurance may at first seem to be difficult for drivers that are relatively new to comparing rates and buying insurance on the internet. With so many options of insurers to choose from, how can anyone efficiently compare them all to find the lowest price available?

Consumers need to shop coverage around before your next renewal since insurance prices are constantly changing. Even if you think you had the best price for 5 Series Gran Turismo insurance a year ago other companies may now be cheaper. Block out anything you think you know about insurance because I’m going to let you in on the secrets to one of the best ways to buy cheaper insurance.

If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using this strategy. This article will let you in on how to get online quotes and some money-saving tips. But vehicle owners need to learn the methods companies use to market insurance on the web and apply this information to your search.

First Step: Get free car insurance quotes

When looking for the cheapest car insurance quotes, there are a couple ways of comparing rates from car insurance companies in your area. The easiest way to compare 2016 BMW 5 Series Gran Turismo insurance prices is to get quotes online. This can be done by using one of the methods below.

  • If you don’t have a lot of time, the easiest way consumers can make multiple comparisons is a comparison rater form (click to open form in new window). This form prevents you from having to do repetitive form entry to each individual car insurance company. One simple form gets prices estimates instantly.It’s the quickest way to get rates.
  • Another way to find lower rates requires visiting each individual company website and repeat the quote process again and again. For example, let’s assume you want to see prices from Nationwide, 21st Century and Liberty Mutual. You would need to spend time on each company’s site and repeatedly enter your information, which is why most consumers use the first method. To view a list of companies in your area, click here.
  • The least recommended method to get comparison rates is to waste gas driving to insurance agents’ offices. The fact that you can get quotes online eliminates this option unless you have a need for the professional advice of a local agent. Although, it is possible price shop your coverage online but purchase the actual policy in an agency.

However you get your quotes, make sure you are using identical coverage information for every company. If you use mixed coverages it’s impossible to determine which company has the best rates. Quoting even small variations in insurance coverages may result in a large different in cost. Just remember that comparing more rates from different companies helps locate the best price. Not every company does online rate quotes, so it’s important to compare quotes from them, too.

Insurance coverage ads bend the truth

Big name companies like State Farm, Allstate and GEICO constantly bombard you with television, radio, and online ads. They all make the point that drivers will save a bundle if you just switch your insurance coverage policy to them. It sounds good, but how can they all charge less that you’re paying now? Here is how they do it.

Insurance coverage companies give the cheapest rates for the type of driver that earns them the highest profit. For example, a desirable insured might be described as between the ages of 30 and 50, has had continuous coverage, and has a high credit rating. A driver who matches those parameters will get very good rates as well as pay quite a bit less when switching companies.

Insureds who are not a match for this ideal profile will have to pay a higher rate which leads to the driver buying from a lower-cost company. If you listen closely, the ads state “people that switch” not “everybody who quotes” can save as much as they claim. That is how companies can truthfully advertise the way they do.

Because of the profiling, drivers must do a rate comparison at every renewal. You cannot predict the company that will fit your personal profile best.

Six discounts for cheaper insurance coverage rates

Properly insuring your vehicles can get expensive, but there may be some discounts that can help lower your rates. Some trigger automatically when you quote, but less common discounts must be specifically requested before you will receive the discount. If you check and find you aren’t receiving every discount you deserve, you’re paying more than you need to.

  • Bundle and Save – If you insure your home and vehicles with the same insurance company you may earn as much as 10 to 15 percent.
  • Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you can avoid the installment charge.
  • Paper-free Discount – Some of the larger companies may give you up to $50 for buying your policy on the web.
  • Claim-Free Discount – Drivers who don’t have accidents have much lower rates in comparison with policyholders that have many claims.
  • Smart Student Discounts – Excelling in school may save you up to 25%. This discount can apply well after school through age 25.
  • Mature Driver Discount – If you qualify as a senior citizen, you could receive a slight reduction on a car insurance quote for 5 Series Gran Turismo insurance.

You should keep in mind that many deductions do not apply to your bottom line cost. Some only reduce the price of certain insurance coverages like medical payments or collision. Even though it may seem like all those discounts means the company will pay you, that’s just not realistic.

A partial list of companies who might offer most of the discounts above are:

Check with each company or agent to give you their best rates. Savings may not be offered in your area. To see insurance companies that provide some of the discounts listed above, click here.

Tailor your insurance coverage coverage to you

When it comes to choosing proper insurance coverage, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that could help you determine if your situation will benefit from professional help.

  • Do I need added coverage for expensive stereo equipment?
  • Should I put collision coverage on all my vehicles?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered when using my vehicle for business?
  • If I drive on a suspended license am I covered?
  • Where can I get insurance after a DUI in my state?
  • What is no-fault insurance?
  • When would I need rental car insurance?

If you can’t answer these questions then you might want to talk to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Insurance coverages 101

Having a good grasp of a insurance policy aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Collision – This coverage pays for damage to your 5 Series Gran Turismo resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for claims like damaging your car on a curb, sustaining damage from a pot hole and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Comprehensive protection – This coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like falling objects, a broken windshield and fire damage. The maximum amount your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical expense coverage – Coverage for medical payments and/or PIP pay for immediate expenses such as ambulance fees, pain medications and prosthetic devices. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Liability coverages – Liability insurance protects you from damages or injuries you inflict on other people or property by causing an accident. This coverage protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

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 policy limits of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage protects against things like bail bonds, funeral expenses, repair bills for other people’s vehicles, structural damage and repair costs for stationary objects. How much coverage you buy is a personal decision, but consider buying as much as you can afford.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW 5 Series Gran Turismo.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Be a money saver!

Lower-priced 2016 BMW 5 Series Gran Turismo insurance is possible from both online companies in addition to local insurance agencies, and you need to comparison shop both in order to have the best price selection to choose from. A few companies may not offer online rate quotes and many times these regional insurance providers only sell coverage through independent insurance agencies.

As you quote car insurance, don’t be tempted to reduce needed coverages to save money. In many cases, someone dropped liability limits or collision coverage and learned later that the savings was not a smart move. The proper strategy is to purchase a proper amount of coverage for the lowest cost, not the least amount of coverage.

We’ve covered a lot of tips how to compare 2016 BMW 5 Series Gran Turismo insurance car insurance rates online. The key concept to understand is the more companies you get premium rates for, the more likely it is that you will get a better rate. Consumers may even find the most savings is with the smaller companies.

Much more information about insurance coverage is available at the links below