2012 BMW 5 Series Gran Turismo Insurance Cost – 10 Tips for Cheapest Prices

Searching for low-cost insurance for your BMW 5 Series Gran Turismo can be an all-consuming task, but you can use our insurance buying tips and make it easy.

There is a better way to shop for insurance so we’re going to tell you the quickest way to compare rates for your BMW and find the lowest possible price from local insurance agents and online providers.

It’s a good idea to compare prices yearly since insurance prices trend upward over time. If you had the best deal on 5 Series Gran Turismo coverage two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about insurance because you’re going to learn one of the easiest ways to lower your annual insurance bill.

The most recommended method to compare insurance rates in your area is to know the trick most of the bigger providers participate in online systems to provide you with a free rate quote. To start a quote, the only thing you need to do is take a few minutes to give details including your general credit rating, how old drivers are, if a SR-22 is needed, and how your vehicles are used. Your information is then submitted to all major companies and you will get price comparisons almost instantly.

To start a rate quote now, click here then complete the form.

Ten discounts for cheap insurance quotes

Insurance is not cheap nor is it fun to buy but there are discounts available that you may not even know about. A few discounts will be applied when you purchase, but some may not be applied and must be asked for before they will apply.

  • Good Student – Being a good student can get you a discount of up to 25%. Many companies even apply the discount to college students well after school through age 25.
  • Paper-free Discount – A few larger online companies provide a small discount get insurance on the internet.
  • Early Payment Discounts – By paying your entire bill at once instead of monthly or quarterly installments you can avoid the installment charge.
  • Save with a New Car – Insuring a new car can get you a discount since new vehicles have better safety ratings.
  • Anti-lock Brake Discount – Cars and trucks with ABS and/or traction control prevent accidents so companies give up to a 10% discount.
  • Life Insurance – If the company offers life insurance, you could get a break if you buy life insurance.
  • Mature Driver Discount – If you’re over the age of 55, you are able to get better insurance rates on 5 Series Gran Turismo coverage.
  • Discounts for Seat Belt Usage – Forcing all vehicle occupants to use a seat belt could save 15% off the personal injury premium cost.
  • Save with More Vehicles Insured – Buying coverage for several vehicles with the same insurance company can reduce the rates for all insured vehicles.
  • Resident Student – Youth drivers who attend college more than 100 miles from home and do not take a car to college may be able to be covered for less.

Drivers should understand that most discount credits are not given to all coverage premiums. Some only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business. But all discounts will help lower your policy cost.

A list of insurance companies and some of the premium reductions they offer can be found below.

  • American Family has discounts for accident-free, good student, multi-vehicle, good driver, early bird, Steer into Savings, and defensive driver.
  • Farm Bureau may have discounts that include multi-policy, good student, youthful driver, renewal discount, and safe driver.
  • State Farm may offer discounts for anti-theft, multiple policy, accident-free, student away at school, Drive Safe & Save, safe vehicle, and passive restraint.
  • Travelers has savings for student away at school, IntelliDrive, multi-car, hybrid/electric vehicle, good student, and home ownership.
  • The Hartford includes discounts for bundle, vehicle fuel type, good student, defensive driver, and anti-theft.
  • Geico may include discounts for military active duty, anti-theft, emergency military deployment, defensive driver, and daytime running lights.
  • Progressive offers discounts including multi-vehicle, online quote discount, multi-policy, homeowner, online signing, and good student.

When getting free insurance quotes, it’s a good idea to every insurance company which discounts you qualify for. Discounts may not be available in your state. For a list of insurance companies that offer many of these discounts, click here.

You may need specialized insurance coverage

When choosing the best insurance coverage, there really is not a “best” method to buy coverage. Every insured’s situation is different.

Here are some questions about coverages that can help discover if your situation could use an agent’s help.

  • Is my cargo covered for damage or theft?
  • Am I covered when delivering products for my home-based business?
  • Are rental cars covered under my policy?
  • Do I need higher collision deductibles?
  • Should I carry comprehensive and collision coverage?
  • Does my insurance cover my expensive audio equipment?
  • Are my tools covered if they get stolen from my vehicle?
  • How much can I save by bundling my policies?

If you can’t answer these questions but one or more may apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, simply complete this short form. It’s fast, free and may give you better protection.

Coverage specifics

Knowing the specifics of a insurance policy can be of help when determining the right coverages for your vehicles. Insurance terms can be ambiguous and coverage can change by endorsement.

Collision coverage protection

This coverage will pay to fix damage to your 5 Series Gran Turismo caused by collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as scraping a guard rail, crashing into a building, driving through your garage door and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Comprehensive protection

Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as damage from getting keyed, damage from flooding and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Liability car insurance

Liability coverage protects you from damage that occurs to other’s property or people by causing 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 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage protects against claims such as medical services, funeral expenses and court costs. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Uninsured or underinsured coverage

This coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your 2012 BMW 5 Series Gran Turismo.

Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses for things like dental work, doctor visits and ambulance fees. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. They cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Stretch your dollar

There are still a few companies who do not offer price quotes online and most of the time these small insurance companies only sell through local independent agents. Cheaper car insurance can be found online and with local insurance agents, and you should compare price quotes from both to have the best chance of lowering rates.

Drivers switch companies for any number of reasons including lack of trust in their agent, delays in responding to claim requests, being labeled a high risk driver or not issuing a premium refund. No matter why you want to switch, finding a new car insurance company is easier than you think.

We just presented many ways to reduce 2012 BMW 5 Series Gran Turismo insurance auto insurance rates online. It’s most important to understand that the more companies you get premium rates for, the more likely it is that you will get a better rate. You may be surprised to find that the lowest priced car insurance comes from the least-expected company.

More tips and info about car insurance is located at these sites: