Cheap 2019 BMW 5 Series Gran Turismo Insurance Quotes 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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There isn’t anyone who likes paying for insurance, especially when they know their premiums are too high.

Companies like GEICO, Farmers Insurance and State Farm persistently shower you with TV and radio ads and it is difficult to not get sucked in by the cute commercials and effectively compare rates to find the best deal.

It’s a good idea to get comparison quotes periodically because prices change frequently. Just because you had the best rates on 5 Series Gran Turismo insurance a couple years back you can probably find a better premium rate now. Block out anything you think you know about insurance because I’m going to let you in on the secrets to the things you must know in order to find better coverage at a better price.

Compare quotes for auto insurance

When looking for affordable car insurance quotes, there are a couple ways to compare prices from many auto insurance companies in your state. The best way to do a complete rate comparison is to get quotes online. It is quite easy and can be accomplished in a couple of different ways.

  • The easiest and least time consuming way consumers can make multiple comparisons is an all-inclusive rate comparison. This style of form keeps you from doing boring form submissions for each price estimate. Just one form gets coverage cost estimates from several companies.
  • A slightly less efficient method to compare prices requires visiting each company website to complete their respective quote request forms. For instance, we’ll assume you want to get rates from USAA, State Farm and Allstate. To find out each rate you need to navigate to each company’s site and type in your information over and over, which is why first method is recommended.
  • The last way to get rate quotes is going to insurance agents’ offices. The ability to buy insurance online eliminates this option unless you prefer the extra assistance that can only be provided by a licensed insurance agent. Although you can find lower rates online but still have the advice of a local agent.

It’s up to you how you get prices quotes, just be certain you are entering equivalent coverages and limits on every quote you get. If each company quotes differing limits you will not be able to make an equal comparison. Having just a slight variation in coverage limits could mean much higher rates. And when comparison shopping, comparing more rates from different companies helps improve the odds of finding more affordable insurance.

Auto insurance rates and discounts

Some companies do not list all discounts in an easy-to-find place, so the list below details some of the best known and also the lesser-known discounts that you may qualify for.

  • Student Discounts – Getting good grades could provide a savings of up to 20% or more. You can use this discount normally up until you turn 25.
  • Federal Employees – Employees or retirees of the government can earn a discount up to 10% on 5 Series Gran Turismo insurance with select insurance companies.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use a seat belt could save 15% off the PIP or medical payment premium.
  • Air Bag Discount – Options like air bags can get savings of 20 to 30 percent.
  • Responsible Drivers – Insureds without accidents can save up to 40% or more on their car insurance quote on 5 Series Gran Turismo insurance compared to rates paid by drivers with frequent claims.
  • Early Switch Discount – A few companies offer discounts for buying a new policy before your current coverage expires. You could save around 10% when you buy car insurance online.
  • Mature Driver Discount – Drivers that qualify as senior citizens are able to get a discount up to 10% on 5 Series Gran Turismo insurance.
  • Theft Deterrent – Cars, trucks, and SUVs that have factory anti-theft systems prevent vehicle theft and that can save you a little bit as well.

As a footnote on discounts, some credits don’t apply to the entire cost. Some only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like you could get a free auto insurance policy, auto insurance companies aren’t that generous.

The best auto insurance companies and some of their more popular discounts are included below.

  • State Farm has savings for driver’s education, Steer Clear safe driver discount, anti-theft, safe vehicle, and student away at school.
  • Liberty Mutual policyholders can earn discounts including good student, multi-policy, hybrid vehicle, newly retired, and exclusive group savings.
  • American Family includes discounts for good student, good driver, mySafetyValet, early bird, air bags, defensive driver, and accident-free.
  • Progressive offers premium reductions for homeowner, multi-policy, online signing, online quote discount, continuous coverage, good student, and multi-vehicle.
  • Farmers Insurance offers discounts for business and professional, youthful driver, homeowner, teen driver, early shopping, and bundle discounts.
  • Auto-Owners Insurance discounts include anti-theft, student away at school, mature driver, paid in full, paperless, safe driver, and safe vehicle.
  • SAFECO may include discounts for drive less, teen safe driver, anti-theft, bundle discounts, homeowner, and teen safety rewards.

When getting free car insurance quotes, it’s a good idea to every company to apply every possible discount. Some discounts listed above might not apply in your area. To locate providers that have a full spectrum of discounts, enter your zip code here.

Situations that may require an agent’s advice

When choosing the right insurance coverage, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s so this has to be addressed. For instance, these questions may help you determine if your situation will benefit from professional help.

  • Is rental equipment covered for theft or damage?
  • Do I need special endorsements for business use of my vehicle?
  • Does liability extend to a camper or trailer?
  • How high should deductibles be on a 2019 BMW 5 Series Gran Turismo?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Do I need PIP coverage since I have good health insurance?
  • Is upholstery damage covered by car insurance?
  • I have health insurance so do I need medical payments coverage?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, complete your zip code.

Why informed drivers pay less for BMW 5 Series Gran Turismo insurance

Lots of factors are taken into consideration when you get a price on insurance. A few of the factors are predictable like your driving record, but other criteria are more transparent such as your credit history or how safe your car is. A large part of saving on auto insurance is knowing some of the elements that help determine your policy premiums. If you have a feel for what influences your rates, this helps enable you to make changes that can help you get much lower annual insurance costs.

The factors shown below are some of the most rate-impacting factors auto insurance companies consider when setting prices.

  • Claim-free discounts can add up – If you tend to file frequent claims, you can definitely plan on higher premiums or even policy non-renewal. Companies provide the lowest premiums to people who only file infrequent claims. Your insurance policy is designed for claims that you cannot pay yourself.
  • High credit rating translates to low rates – An insured’s credit score is likely to be a major factor in calculating your premium rate. If your credit is lower than you’d like, you could save money insuring your 2019 BMW 5 Series Gran Turismo if you clean up your credit. Insureds that have excellent credit scores tend to be more responsible and file fewer claims as compared to drivers with poor credit.
  • Bad drivers pay high costs – Having a single speeding ticket can increase the cost of insurance by twenty percent. Drivers who don’t get tickets get better rates as compared to careless drivers. Drivers who get dangerous citations such as reckless driving or DUI may face state-mandated requirements to submit a SR-22 form with their state motor vehicle department in order to keep their license.
  • Your occupation is a factor – Did you know that where you work can have an impact on rates? Occupations like military personnel, police officers and dentists generally have higher premiums than the average policyholder attributed to intense work situations and long work days. On the other hand, occupations like actors, athletes and retirees pay lower than average rates on 5 Series Gran Turismo insurance.
  • Lower physical damage deductibles cost more – Comp and collision deductibles define the amount you are willing to pay if you file a covered claim. Insurance for physical damage, also known as collision and other-than-collision, covers damage that occurs to your car. Some examples of covered claims would be rear-ending another vehicle, fire damage, and damage from wind. The more damage repair cost the insured is willing to pay, the bigger discount you will receive on 5 Series Gran Turismo insurance.
  • How your age affects costs – Beginning drivers tend to be easily distracted when at the wheel of a vehicle and because of this, their auto insurance rates are much higher. Older drivers are shown to be more cautious, tend to file fewer claims and get fewer tickets.

Big brands don’t always mean big savings

Insurance coverage companies such as Allstate, GEICO and Progressive consistently run television, radio, and online ads. They all seem to have a common claim about how much you will save if you change to their company. It sounds good, but how can they all make almost identical claims? It’s all in the numbers.

All companies give the best rates for the type of customer that is profitable for them. A good example of a profitable insured may be between the ages of 30 and 50, has other policies, and drives less than 10,000 miles a year. A prospective insured who matches that profile will get a cheap rate quote and will probably save a lot of money.

Insureds who don’t meet this ideal profile will be quoted a higher rate and ends up with the driver buying from a lower-cost company. The ad wording is “drivers who switch” not “all people who quote” can save as much as they claim. That’s why insurance companies can make the claims of big savings.

Because of these techniques, drivers should compare as many free car insurance quotes as you can. It’s impossible to know which insurance companies will have the best car insurance rates.

Parts of your auto insurance policy

Knowing the specifics of auto insurance can help you determine appropriate coverage for your vehicles. Auto insurance terms can be confusing and coverage can change by endorsement. Below you’ll find the usual coverages available from auto insurance companies.

Medical payments and PIP coverage – Coverage for medical payments and/or PIP kick in for short-term medical expenses for X-ray expenses, funeral costs, hospital visits, ambulance fees and prosthetic devices. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible

Comprehensive auto coverage – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hail damage, falling objects, a tree branch falling on your vehicle and vandalism. The most 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.

Coverage for liability – This will cover injuries or damage you cause to other people or property by causing an accident. This insurance protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 that means you have $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. Another option is one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims like medical services, loss of income, bail bonds, emergency aid and structural damage. How much coverage you buy is a decision to put some thought into, but buy as large an amount as possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This provides protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW 5 Series Gran Turismo.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time these limits are identical to your policy’s liability coverage.

Collision coverage – This pays for damage to your 5 Series Gran Turismo resulting from colliding with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as colliding with a tree, scraping a guard rail, sideswiping another vehicle and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible in order to get cheaper collision rates.

Better coverage you can count on

As you go through the steps to switch your coverage, you should never reduce needed coverages to save money. In many instances, an insured cut uninsured motorist or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. Your aim should be to buy enough coverage at the lowest possible cost, but do not sacrifice coverage to save money.

In this article, we presented many ways to save on 2019 BMW 5 Series Gran Turismo insurance. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even find the lowest auto insurance rates are with a lesser-known regional company. They can often provide lower premium rates in certain areas as compared to the big name companies such as Progressive or GEICO.

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