View 2010 BMW 5 Series Gran Turismo Car Insurance Quotes

Looking for the cheapest insurance coverage rates for your BMW 5 Series Gran Turismo? Sick and tired of scraping the payment together to insure your BMW every month? You’re in the same situation as many other drivers.

Many car insurance companies vie to insure your vehicles, and it can be difficult to compare rates to find the best rates possible.

It’s a good habit to take a look at other company’s rates at least once a year since rates are constantly changing. Just because you had the best price for 5 Series Gran Turismo coverage last year you will most likely find a better rate today. You can find a lot of misleading information regarding insurance coverage online, so with this article, you’re going to get some solid techniques on how to find affordable insurance coverage.

If you currently have a car insurance policy, you should be able to cut costs considerably using this information. Buying car insurance is quite easy. But consumers can benefit from knowing how companies market on the web and take advantage of how the system works.

How to Get Cheap Insurance Coverage

Comparing insurance coverage rates can be a daunting task if you don’t know the easiest way. You could waste a few hours talking about coverages with local insurance agents in your area, or you could use online quoting to quickly compare rates.

All the larger companies belong to a marketplace that enables customers to submit one quote, and at least one company returns a rated price. This system prevents you from having to do quotation requests for each company you want a rate for.

To enter your information into the quoting system, click here to open in new window.

The one disadvantage to comparing rates this way is you can’t choose which insurance companies to get quotes from. So if you want to choose specific providers to compare, we have assembled a list of companies who write insurance coverage in your area. Click here for list of insurance companies.

Which method you use is up to you, but compare the exact same quote information on every quote. If you use different limits and deductibles on each one you will not be able to determine the lowest rate for your BMW 5 Series Gran Turismo. Just a small difference in coverages could mean much higher rates. Keep in mind that comparing a large number of companies will improve the odds of getting better pricing.

Discounts are great for lower rates

Auto insurance companies don’t always publicize every discount very clearly, so we break down both well-publicized and also the lesser-known discounts you could be receiving.

  • Passive Restraints and Air Bags – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of more than 20%.
  • Early Signing – A few companies offer discounts for signing up before your current expiration date. This can save 10% or more.
  • Save over 55 – If you’re over the age of 55, you may receive better insurance rates for 5 Series Gran Turismo coverage.
  • Good Students Pay Less – This discount can be rewarded with saving of up to 25%. This discount can apply up to age 25.
  • Multi-policy Discount – When you have multiple policies with the same insurance company you may save at least 10% off all policies.
  • Auto/Life Discount – Select insurance companies reward you with a break if you buy life insurance.
  • Anti-lock Brake System – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
  • Federal Government Employee – Simply working for the federal government can earn a discount up to 10% for 5 Series Gran Turismo coverage with select insurance companies.

A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. Most only reduce individual premiums such as comprehensive or collision. So even though it sounds like you could get a free insurance policy, it just doesn’t work that way.

For a list of providers with discount insurance rates, click this link.

You may need specialized coverage

When choosing adequate coverage, there really is not a cookie cutter policy. Everyone’s situation is unique and your policy should reflect that. Here are some questions about coverages that may help highlight if your insurance needs would benefit from an agent’s advice.

  • What happens if I owe more than my 2010 BMW 5 Series Gran Turismo is worth?
  • Can my babysitter drive my car?
  • How much underlying liability do I need for an umbrella policy?
  • Is my state a no-fault state?
  • Am I covered when pulling a rental trailer?
  • Should I waive the damage coverage when renting a car?
  • When can I cancel my policy?
  • Will I be non-renewed for getting a DUI or other conviction?
  • What is high-risk coverage and where do I buy it?
  • Is my teenager covered with friends in the car?

If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.

BMW 5 Series Gran Turismo premiums are determined by many factors

Consumers need to have an understanding of the rating factors that come into play when calculating car insurance rates. When you know what positively or negatively impacts premium levels allows you to make educated decisions that may reward you with much lower annual insurance costs.

  • Pleasure use or commuting – The more you drive in a year the higher your rate. Almost all companies price each vehicle’s coverage based on their usage. Vehicles not used for work or commuting can get a lower rate than those used for commuting. Ask your agent if your car insurance policy properly reflects the correct driver usage, because it can save money. If your policy improperly rates your 5 Series Gran Turismo can result in significantly higher rates.
  • What are your deductibles? – Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your BMW. Some examples of claims that would be covered would be collision with another vehicle, damage from fire, and burglary. Physical damage deductibles are how much you are required to spend if you file a covered claim. The more money the insured has to pay upfront, the less your company will charge you for insurance for 5 Series Gran Turismo coverage.
  • Don’t get talked into coverage you don’t need – There are a lot of extra coverages you can purchase if you aren’t careful. Insurance for rental car reimbursement, better glass coverage and additional equipment coverage are some examples. These coverages may sound good when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
  • Lower rates with optional equipment – Driving a car with anti-theft technology or alarm system can help lower your rates. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your vehicle from being stolen.
  • Don’t cancel a policy without a new one in place – Allowing your car insurance policy to lapse is a fast way to increase your car insurance rates. And not only will insurance be more expensive, getting caught without coverage can result in a steep fine or even jail time.Then you may be required to file a SR-22 with your state department of motor vehicles.
  • Bad driving skills means higher rates – Drivers with clean records get better rates than bad drivers. Even one speeding ticket may increase your cost by as much as thirty percent. Drivers who have serious citations like hit and run, DWI or reckless driving convictions may need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
  • Your spouse saves you money – Getting married can actually save you money on car insurance. Having a spouse means you’re more mature and responsible and it’s proven that being married results in fewer claims.

Are auto insurance companies telling the truth?

Auto insurance companies such as Allstate, Geico and Progressive continually stream television and radio advertisements. They all seem to make an identical promise of big savings after switching your policy. How do they all say the same thing?

Different companies have a preferred profile for the right customer that makes them money. A good example of a desirable insured might be profiled as a mature driver, has no prior claims, and drives less than 10,000 miles a year. A customer who fits that profile will get very good rates and as a result will probably save when switching.

Potential insureds who do not match this ideal profile will have to pay a more expensive rate which leads to business not being written. The ad wording is “people who switch” not “people who quote” save money. That’s why companies can truthfully advertise the way they do. Because of the profiling, it’s extremely important to get as many quotes as possible. It is impossible to predict which company will fit your personal profile best.

Auto insurance coverage basics

Having a good grasp of your auto insurance policy aids in choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. These are typical coverage types found on most auto insurance policies.

Liability – Liability insurance provides protection from damage or injury you incur to people or other property that is your fault. This insurance protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.

Liability coverage pays for claims like pain and suffering, funeral expenses, loss of income and emergency aid. How much coverage you buy is up to you, but you should buy as high a limit as you can afford.

Collision coverage – This coverage will pay to fix damage to your 5 Series Gran Turismo resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things like damaging your car on a curb, driving through your garage door, crashing into a building and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible in order to get cheaper collision rates.

Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your 2010 BMW 5 Series Gran Turismo.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for expenses like rehabilitation expenses, doctor visits, surgery and chiropractic care. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision) – This coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like fire damage, falling objects, hitting a bird and rock chips in glass. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

One last thing about your coverage

We just covered some good ideas how you can get a better price on 2010 BMW 5 Series Gran Turismo insurance. The key thing to remember is the more companies you get rates for, the higher your chance of finding lower rates. Consumers could even find that the biggest savings come from the smaller companies. These smaller insurers often have lower prices on specific markets than their larger competitors like State Farm or Progressive.

As you restructure your insurance plan, you should never reduce coverage to reduce premium. There are a lot of situations where drivers have reduced liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy the best coverage you can find for the lowest price while still protecting your assets.

Lower-priced insurance can be found online and also from your neighborhood agents, and you need to price shop both to get a complete price analysis. Some companies may not provide you the ability to get quotes online and these regional insurance providers work with independent agents.

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