Compare 2017 BMW 5 Series Gran Turismo Car Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

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...

Insurance Lawyer

UPDATED: Jun 1, 2024

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Searching for lower insurance rates for your BMW 5 Series Gran Turismo? If you’re searching for lower-priced insurance, do you get frustrated by the number of insurance providers that you can choose from? Lot’s of other people are too. Drivers have so many choices that it is more work than you anticipated to find lower premium rates.

If you currently have car insurance, you should be able to reduce your rates substantially using these methods. The purpose of this post is to help educate you on the best way to quote coverages and some tricks to saving. But drivers need to learn how companies price insurance differently because it can help you find the best coverage.

How much does car insurance cost?

To find cheap prices, there are a couple of ways to obtain and compare prices from different insurance companies. One of the best ways to comparison shop is simply to get online rate quotes. This can be done in several different ways.

  • The easiest and least time consuming way to compare a lot of rates at once is to use a rate comparison form. This style of form eliminates the need for repetitive form entry for every car insurance company. A single, simple form will return quotes from several companies. It’s the fastest way to compare.
  • A more difficult way to analyze rates is going to each company’s website to complete their respective quote request forms. For examples sake, let’s assume you want to view quotes from Auto-Owners, GEICO and American Family. To do that, you would have to go to every website and repeatedly type in your coverage information, and that explains why we recommend the first method.
  • The most time-consuming way to comparison shop rate quotes is driving around to different agent offices. Comparing rates online can eliminate the need for a local agent unless you prefer the trained advice that can only be provided by a licensed insurance agent. It is possible with some companies find lower rates online and have a local agent actually service the policy.

It’s up to you which method you use, but compare identical coverage data for every company. If each company quotes different liability limits you will not be able to decipher which rate is best. Slightly different limits may cause a big price difference. And when quoting car insurance, remember that obtaining a wide range of quotes provides better odds of finding the best rates.

Save money with discounts

Insurance coverage is easily one of your largest bills, but you may find discounts that could help you make your next renewal payment. A few discounts will automatically apply at the time you complete a quote, but some discounts are required to be specifically requested before you will receive the discount.

  • Senior Citizens – Drivers that qualify as senior citizens are able to get a small discount on rates on 5 Series Gran Turismo insurance.
  • Drive Less and Save – Driving fewer miles can qualify you for lower rates due to less chance of an accident.
  • Government Employees – Employees or retirees of the government may qualify for a discount when you quote auto insurance on 5 Series Gran Turismo insurance but check with your company.
  • Auto/Home Discount – If you can bundle your auto and homeowners insurance with one insurance company you may save over 10 percent off each policy depending on the company.
  • Buy New and Save – Insuring a new car can be considerably cheaper because newer vehicles have to meet stringent safety requirements.
  • No Claims – Insureds who avoid accidents and claims pay less when compared to drivers who are more careless.
  • Discount for Switching Early – Select insurance coverage companies give a discount for switching companies early. This discount can save up to 10%.

One last thing about discounts, most discounts do not apply to all coverage premiums. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Just because you may think all the discounts add up to a free policy, companies don’t profit that way.

A few of the larger companies and a partial list of their discounts are:

  • 21st Century includes discounts for air bags, automatic seat belts, theft prevention, 55 and older, anti-lock brakes, and homeowners.
  • State Farm may include discounts for anti-theft, good driver, passive restraint, defensive driving training, and multiple autos.
  • AAA offers discounts including multi-car, pay-in-full, multi-policy, good student, and education and occupation.
  • Liberty Mutual may offer discounts for multi-policy, preferred payment discount, multi-car, new vehicle discount, teen driver discount, newly married, and new move discount.
  • Progressive offers premium reductions for online signing, continuous coverage, multi-vehicle, homeowner, good student, and online quote discount.

Before purchasing a policy, check with every company to apply every possible discount. Savings may not apply in your state.

What is the best car insurance coverage?

When it comes to choosing proper insurance coverage, there isn’t really a “best” method to buy coverage. Each situation is unique.

For instance, these questions might help in determining whether you might need professional guidance.

  • I have health insurance so do I need medical payments coverage?
  • Why is insurance for a teen driver so high?
  • Is my dog or cat covered if injured in an accident?
  • What is the ISO rating for a 2017 BMW 5 Series Gran Turismo?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • When should I drop full coverage on my 2017 BMW 5 Series Gran Turismo?

If you don’t know the answers to these questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete your zip code.

Informed drivers can reduce insurance rates

Many different elements are used in the calculation when you get a price on insurance. Most are fairly basic such as traffic violations, but some are more obscure like where you live or your vehicle rating.

  • Small claims can cost you – If you file claims often, you can expect higher rates. Car insurance companies provide lower rates to policyholders who do not rely on their insurance for small claims. Your car insurance is designed for more catestrophic claims.
  • Avoid policy lapses – Having a gap between insurance policy dates is a guaranteed way to drive up your policy premiums. Not only will you pay higher rates, being ticketed for driving with no insurance can result in fines and jail time.
  • Pay more by driving carelessly – Having a clean driving record has a lot to do with how much you pay for insurance. Having just one driving citation may increase your cost to the point where it’s not affordable. Attentive drivers receive lower rates as compared to those with violations. Drivers who have gotten license-revoking violations such as DWI, reckless driving or hit and run convictions might be required by their state to complete a SR-22 with their state in order to keep their license.
  • Pay more out-of-pocket – Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your vehicle. Some examples of covered claims are colliding with a building, hail damage, or theft. The deductibles you choose are how much you are required to spend out-of-pocket if a covered claim is submitted. The more you pay before a claim is paid (deductible), the better rate you will receive on 5 Series Gran Turismo insurance.
  • Do safer cars cost less to insure? – Cars with high safety ratings tend to be cheaper to insure. Safer cars reduce the chance of injuries and better occupant protection translates into savings for insurance companies which can result in lower premiums. If your BMW has ratings of a minimum four stars on or an “acceptable” rating on it may be receiving lower rates.
  • Drive less and get lower costs – Driving a lot of miles in a year’s time the more you’ll pay to insure it. Many insurance companies charge rates based upon how the vehicle is primarily used. Autos that do not get driven very much can be on a lower rate level than vehicles that have high annual mileage. Having the wrong rating on your 5 Series Gran Turismo may be costing you higher rates. It’s a good idea to make sure your auto insurance coverage is rated on the proper vehicle usage, because it can save money.
  • Get married and get cheaper prices – Your spouse can get you a discount when shopping for auto insurance. Marriage generally demonstrates drivers are more financially stable and it’s proven that married drivers tend to file fewer claims.
  • Urban residents pay more – Choosing to live in a rural area can be a good thing when shopping for auto insurance. People who live in big cities tend to have traffic congestion and longer commute times. Less people means reduced accidents and a lower car theft rate.

Insurance coverage options for a 2017 BMW 5 Series Gran Turismo

Learning about specific coverages of insurance aids in choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.

UM/UIM Coverage – This provides protection when the “other guys” do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Liability – Liability coverage provides protection from damage that occurs to other people or property in an accident. It protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which means a $25,000 limit per person for 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 protects against claims such as bail bonds, repair costs for stationary objects and medical services. How much coverage you buy is a personal decision, but consider buying higher limits if possible.

Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for rehabilitation expenses, surgery, hospital visits, dental work and doctor visits. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision – This coverage covers damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like rock chips in glass, hitting a bird, a broken windshield, damage from getting keyed and hitting a deer. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Collision coverage – This pays for damage to your 5 Series Gran Turismo caused by collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as hitting a parking meter, sideswiping another vehicle, colliding with another moving vehicle, backing into a parked car and scraping a guard rail. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Final thoughts

Cost effective 2017 BMW 5 Series Gran Turismo insurance can be bought online and from local insurance agents, and you should compare rates from both to have the best selection. Some car insurance companies don’t offer online rate quotes and usually these regional insurance providers work with local independent agents.

You just learned some good ideas how to save on 2017 BMW 5 Series Gran Turismo insurance. The most important thing to understand is the more providers you compare, the better likelihood of getting cheaper auto insurance. You may even discover the lowest premium rates come from a lesser-known regional company.

As you quote auto insurance, it’s not a good idea to buy poor coverage just to save money. There are many occasions where someone sacrificed liability coverage limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to get the best coverage possible at the best cost, but do not sacrifice coverage to save money.

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