2011 BMW 5 Series Gran Turismo Car Insurance Cost – 10 Ways to Save

Are you tired of being strong-armed to insure your BMW every month? You’re in the same situation as the majority of other car owners. Lots of car insurance companies contend for your insurance dollar, and because of this it can be hard to compare car insurance companies to find the best rates possible.

It’s important to shop coverage around occasionally because rates go up and down regularly. Just because you found the lowest rates on 5 Series Gran Turismo insurance six months ago the chances are good that you can find a lower rate today. So just forget all the misinformation about insurance coverage because I’m going to teach you how to use the internet to save money, get proper coverage and the best rates.

Do you qualify for a discount?

Properly insuring your vehicles can get expensive, buy you may qualify for discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you purchase, but some may not be applied and must be asked about before being credited. If they aren’t giving you every credit possible, you’re just leaving money on the table.

  • Student Driver Training – Have your child enroll in driver’s education in school.
  • Homeowners Discount – Owning a house may earn you a small savings because owning a home demonstrates responsibility.
  • Auto/Home Discount – If you have multiple policies with the same insurance company you may earn at least 10% off all policies.
  • Save over 55 – If you’re over the age of 55, you may qualify for reduced rates on 5 Series Gran Turismo insurance.
  • Life Insurance Discount – Companies who offer life insurance give a break if you buy auto and life insurance together.
  • Passive Restraint Discount – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of up to 25% or more.
  • Seat Belt Usage – Buckling up and requiring all passengers to buckle their seat belts could save 15% off the personal injury premium cost.
  • Lower Rates for Military – Having a family member in the military can result in better rates.
  • Student in College – Children who live away from home without a vehicle on campus may qualify for this discount.
  • Fewer Miles Equal More Savings – Fewer annual miles on your BMW can qualify you for lower rates on the low mileage vehicles.

Consumers should know that most discounts do not apply to your bottom line cost. Some only apply to specific coverage prices like comprehensive or collision. So even though it sounds like having all the discounts means you get insurance for free, it doesn’t quite work that way. But any discount will bring down your overall premium however.

Insurance companies that may have some of the above discounts may include but are not limited to:

Double check with all companies you are considering which discounts you may be entitled to. Some discounts might not apply in your area.

Where Can I Get Cheap Car Insurance?

There are multiple methods to compare 2011 BMW 5 Series Gran Turismo car insurance quotes, but some are less time-consuming than others. You could spend your day driving to local insurance agents in your area, or you could save time and use the internet to get pricing more quickly.

Many insurance companies enroll in a system where prospective buyers enter their coverage request one time, and every company can provide price quotes. This system prevents you from having to do quote forms to each individual car insurance company.

To get comparison pricing now click here (opens in new window).

The single downside to pricing coverage this way is that you can’t choose the insurers you will receive quotes from. So if you prefer to choose from a list of companies for rate comparison, we have a listing of the cheapest car insurance companies in your area. Click here to view list.

Whichever way you use, compare exactly the same coverage limits and deductibles with every price quote. If you are comparing unequal deductibles or liability limits then you won’t be able to determine the best price for your BMW 5 Series Gran Turismo.

What coverages do I need?

When it comes to choosing the best auto insurance coverage for your personal vehicles, there is no one size fits all plan. Every insured’s situation is different and your policy should reflect that. For example, these questions may help you determine if your situation would benefit from professional advice.

  • Is my trailer covered?
  • Is my cargo covered for damage or theft?
  • Do I have coverage if my license is suspended?
  • Is my state a no-fault state?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • What exactly is covered by my policy?
  • Is my custom paint covered by insurance?
  • Is business property covered if stolen from my car?

If it’s difficult to answer 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, simply complete this short form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.

What car insurance coverages do you need?

Understanding the coverages of your policy can be of help when determining appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find the normal coverages found on most car insurance policies.

Collision coverage – Collision coverage pays for damage to your 5 Series Gran Turismo caused by collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as hitting a parking meter, backing into a parked car, sideswiping another vehicle and driving through your garage door. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your BMW 5 Series Gran Turismo.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as damage from a tornado or hurricane, hail damage, a broken windshield, vandalism and fire damage. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage provide coverage for expenses such as dental work, rehabilitation expenses, chiropractic care, EMT expenses and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants and also covers if you are hit as a while walking down the street. PIP is not an option in every state and may carry a deductible

Liability coverage – Liability coverage will cover damage that occurs to other people or property by causing an accident. It protects you against claims from other people. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things like attorney fees, loss of income, repair costs for stationary objects, medical expenses and bail bonds. The amount of liability coverage you purchase is a personal decision, but you should buy as much as you can afford.

The best insurance company isn’t always the cheapest

Cheaper 2011 BMW 5 Series Gran Turismo insurance can be sourced from both online companies in addition to many insurance agents, so compare prices from both to get a complete price analysis. Some insurance companies do not provide online quoting and many times these small, regional companies only sell through independent insurance agents.

We just presented some good ideas how to shop for insurance online. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Drivers may discover the lowest priced insurance comes from a smaller regional carrier. They can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.

When you buy insurance online, make sure you don’t buy less coverage just to save a little money. There have been many cases where someone dropped comprehensive coverage or liability limits and learned later that it was a big mistake. The ultimate goal is to purchase plenty of coverage for the lowest price.

To read more, take a look at the following helpful articles: