Cheaper 2013 BMW 5 Series Gran Turismo Insurance Cost 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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Want cheaper car insurance rates for your BMW 5 Series Gran Turismo? Trying to find cheaper insurance for your BMW 5 Series Gran Turismo can normally be difficult, but you can learn the following methods to find lower rates.

There are more efficient ways to find car insurance online and you need to know the proper way to quote coverages on a BMW and find the lowest price from both online companies and local agents.

Learn how to get insurance cheaper

One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that play a part in calculating your policy premiums. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs. Multiple criteria are used in the calculation when you quote your car insurance policy. A few of the factors are predictable such as your driving record, but other factors are less obvious such as whether you are married or your financial responsibility.

  • No insurance gaps is important – Allowing your insurance policy to lapse will be a fast way to bump up your insurance costs. Not only will you pay higher rates, the inability to provide proof of insurance may result in a revoked license or a big fine. You could then be forced to prove you have insurance by filing a SR-22 with your state DMV.
  • Driving citations hurt – Being a careful driver impacts premiums far more than you think. Good drivers get better prices as compared to careless drivers. Just one speeding ticket or other violation could increase your next policy renewal by twenty percent. Drivers who have gotten flagrant tickets such as DWI, reckless driving or hit and run convictions may face state-mandated requirements to prove financial responsibility with their state motor vehicle department in order to prevent a license revocation.
  • Fewer miles means better prices – The more miles you rack up on your BMW annually the higher your rate. Most insurance companies apply a rate based upon how the vehicle is primarily used. Cars and trucks that are left in the garage cost less to insure compared to those used for work or business. Make sure your policy properly reflects the correct usage for each vehicle, because it can save money. Having an incorrect usage rating on your 5 Series Gran Turismo may be wasting your money.
  • Avoid unnecessary extra policy coverages – There are a ton of additional extra coverages that can waste your money but may not be useful. Coverages for roadside assistance, towing coverage, and motor club memberships are probably not needed. They may seem good when you first buy your policy, but if they’re wasting money eliminate them to save money.
  • Increase coverage deductibles and save – Physical damage deductibles are how much you are required to spend out-of-pocket if the claim is covered. Protection for physical damage, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. Some coverage claims would be collision with another vehicle, damage caused by hail, and damage caused by road hazards. The more money you choose to pay out-of-pocket, the bigger discount you will receive for 5 Series Gran Turismo coverage.
  • Marriage pays dividends – Your spouse may earn you lower rates compared to being single. Marriage usually means you are more mature and it’s proven that married drivers get in fewer accidents.
  • Optional features can affect insurance rates – Purchasing a vehicle with an alarm system can help lower your rates. Anti-theft devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent your car from being stolen.

Use discounts to get cheaper auto insurance rates

Auto insurance companies don’t always list every policy discount in a way that’s easy to find, so the following list contains both well-publicized as well as some of the hidden credits that may apply to you.

  • Low Mileage – Low annual miles could be rewarded with better auto insurance rates on cars that stay parked.
  • College Student – Youth drivers who attend college more than 100 miles from home without a vehicle on campus may be able to be covered for less.
  • Own a Home – Being a homeowner can save you money since home ownership is proof that your finances are in order.
  • Discount for Passive Restraints – Vehicles equipped with air bags or automatic seat belts can get savings of 25 to 30%.
  • Lower Rates for Military – Being deployed with a military unit could be rewarded with lower rates.
  • Claim-Free Discount – Claim-free drivers are rewarded with significantly better rates on car insurance quote when compared to accident-prone drivers.
  • Discounts for Seat Belt Usage – Using a seat belt and requiring all passengers to buckle up could cut 10% or more off the PIP or medical payment premium.

As a disclaimer on discounts, most credits do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as comp or med pay. Even though it appears all those discounts means the company will pay you, it just doesn’t work that way. But all discounts should help reduce your overall premium however.

Companies and some of the discounts are included below.

  • 21st Century offers discounts including good student, theft prevention, anti-lock brakes, driver training, 55 and older, and defensive driver.
  • Progressive has discounts for continuous coverage, homeowner, multi-vehicle, good student, online signing, and multi-policy.
  • State Farm may have discounts that include good driver, multiple policy, Drive Safe & Save, student away at school, driver’s education, passive restraint, and accident-free.
  • Nationwide offers discounts for Farm Bureau membership, multi-policy, family plan, anti-theft, and easy pay.
  • Esurance includes discounts for good driver, claim free, renters, defensive driver, Pac-12 alumni, anti-theft, and multi-car.
  • The Hartford has savings for bundle, good student, air bag, defensive driver, and vehicle fuel type.

If you want inexpensive car insurance quotes, ask all the companies to give you their best rates. Some of the discounts discussed earlier may not be offered in your area. If you would like to choose from a list of insurers who offer free auto insurance quotes, enter your zip code here.

Tailor your auto insurance coverage to you

When it comes to choosing coverage, there is no “perfect” insurance plan. Everyone’s situation is unique.

Here are some questions about coverages that can help discover whether or not you might need professional guidance.

  • Does my liability insurance cover pulling a trailer or camper?
  • How much underlying liability do I need for an umbrella policy?
  • Should I buy full coverage?
  • Does my policy pay for OEM or aftermarket parts?
  • Do I need to file an SR-22 for a DUI in my state?
  • Do I need replacement cost coverage?

If it’s difficult to answer those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete your zip code. It only takes a few minutes and can help protect your family.

Coverages available on your insurance policy

Learning about specific coverages of a insurance policy can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive protection

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like a tree branch falling on your vehicle, hitting a bird and damage from a tornado or hurricane. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Collision protection

Collision coverage will pay to fix damage to your 5 Series Gran Turismo resulting from a collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as backing into a parked car, sideswiping another vehicle, colliding with another moving vehicle and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to bring the cost down.

Uninsured or underinsured coverage

Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as damage 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 a good idea. Normally these limits are identical to your policy’s liability coverage.

Liability auto insurance

Liability coverage will cover damage or injury you incur to other’s property or people. This coverage protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 that means you have $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers things like repair bills for other people’s vehicles, medical services, medical expenses and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Medical expense coverage

Coverage for medical payments and/or PIP provide coverage for bills for doctor visits, ambulance fees and EMT expenses. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

The best insurance company isn’t always the cheapest

Drivers leave their current company for any number of reasons including delays in responding to claim requests, not issuing a premium refund, questionable increases in premium and policy non-renewal. It doesn’t matter what your reason, finding a great new company is less work than it seems.

When getting car insurance quotes online, never sacrifice coverage to reduce premiums. There have been many situations where someone sacrificed liability limits or collision coverage only to discover later that the small savings ended up costing them much more. The ultimate goal is to find the BEST coverage at the best cost while still protecting your assets.

Some insurance providers don’t offer the ability to get quotes online and most of the time these smaller companies only sell coverage through independent insurance agencies. Cost effective 2013 BMW 5 Series Gran Turismo insurance is attainable online and also from your neighborhood agents, and you should compare price quotes from both in order to have the best chance of saving money.

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