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2014 BMW 5 Series Gran Turismo Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Nov 23, 2017

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It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Saving money on insurance can be challenging for consumers new to shopping for insurance online. Consumers have so many options that it can be a real challenge to find lower rates.

Smart consumers take time to price shop coverage quite often because prices go up and down regularly. Even if you got the best deal for 5 Series Gran Turismo coverage a year ago other companies may now be cheaper. There is a lot of bad information regarding insurance online but by reading this article, you’re going to learn a lot of great tips on how to save money.

Finding Auto Insurance Deals

The are a couple different ways to compare rate quotes from local auto insurance companies. The recommended way to compare 2014 BMW 5 Series Gran Turismo insurance prices is to use the internet to compare rates. This can be done in just a few minutes using one of these methods.

  1. The recommended way to get quotes is to use a rate comparison form click to view form in new window. This form keeps you from doing repetitive form entry to each individual auto insurance company. In just a few minutes this one form gets rate comparisons from several companies. This is perfect if you don’t have a lot of time.
  2. Another way to get comparison quotes requires visiting each company’s website to request a price quote. For example, we’ll pretend you want rates from Progressive, 21st Century and Farmers. You would have to visit each site and enter your policy data, which is why the first method is quicker. To view a list of companies in your area, click here.
  3. The least efficient way to compare rates is to spend your day driving to insurance agents’ offices. The internet eliminates the need for an insurance agent unless you have a need for the trained guidance that only a license agent can provide. You can, however, compare the best prices online but buy from a local insurance agent and we’ll cover that in a bit.

Whichever method you choose, make sure you use apples-to-apples coverage information for each comparison quote. If your comparisons have different values for each quote it will be very difficult to make a fair comparison for your BMW 5 Series Gran Turismo. Having just a slight variation in limits can result in a big premium difference. It’s important to know that comparing more company’s prices gives you a better chance of getting the best price.

Discounts are available to cut your rates

Properly insuring your vehicles can get expensive, but there are discounts available that can drop the cost substantially. Most are applied at the time you complete a quote, but a few need to be specifically requested in order for you to get them.

  • Student in College – Kids in college who attend school more than 100 miles from home and don’t have a car can receive lower rates.
  • Government Employees – Employees or retirees of the government can save as much as 8% for 5 Series Gran Turismo coverage with certain companies.
  • Multi-car Discount – Buying insurance for more than one vehicle with the same company qualifies for this discount.
  • No Accidents – Good drivers with no accidents pay less compared to bad drivers.
  • Senior Discount – If you qualify as a senior citizen, you may receive better insurance coverage rates for 5 Series Gran Turismo coverage.
  • Seat Belt Usage – Requiring all passengers to use their safety belts could cut 10% or more off your PIP or medical payments premium.
  • Low Mileage – Driving fewer miles can earn a substantially lower rate.

It’s important to note that most discounts do not apply to the entire cost. Some only apply to specific coverage prices like physical damage coverage or medical payments. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will bring down your premiums.

Car insurance companies that may offer these benefits include:

Check with each company how you can save money. All car insurance discounts may not apply in your state.

Everyone needs different coverages

When choosing adequate coverage, there isn’t really a perfect coverage plan. Everyone’s situation is unique.

Here are some questions about coverages that can aid in determining whether you might need an agent’s assistance.

  • How much can I save by bundling my policies?
  • Is my 2014 BMW 5 Series Gran Turismo covered for flood damage?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Do I need to file an SR-22 for a DUI in my state?
  • What discounts do I qualify for?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Am I covered when driving someone else’s vehicle?

If it’s difficult to answer those questions, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form.

Detailed coverages of your insurance policy

Knowing the specifics of a insurance policy can be of help when determining the right coverages and the correct deductibles and limits. Policy terminology can be ambiguous and reading a policy is terribly boring.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims such as vandalism, a broken windshield and hitting a deer. The maximum payout your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Insurance for medical payments

Med pay and PIP coverage provide coverage for short-term medical expenses for pain medications, prosthetic devices, surgery and nursing services. The coverages can be used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants as well as if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage

Auto liability

This coverage can cover damages or injuries you inflict on people or other property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 25/50/25 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged property. Another option is a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability can pay for things such as attorney fees, medical expenses, repair costs for stationary objects and court costs. How much coverage you buy is a decision to put some thought into, but you should buy as high a limit as you can afford.

Auto collision coverage

This covers damage to your 5 Series Gran Turismo resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims like colliding with another moving vehicle, colliding with a tree, hitting a parking meter, rolling your car and hitting a mailbox. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to bring the cost down.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your BMW 5 Series Gran Turismo.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

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