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Are you looking for a good deal on your BMW M5 car insurance? Well, you’ve come to the right place if that is the case. Our car insurance experts are well-trained in how to get you the best deals, no matter what type of vehicle you drive. Just scroll down the page, and you too can learn how to save money on your premiums.
The BMW M5 is one of the oldest models ever produced by the luxury car maker. The very first generation was constructed by hand back in 1986. Obviously, modern day versions of this sedan are being built in factories all over the world. More recent generations of the M5 have been praised for its improved fuel economy and gearbox. On the other hand, the M5 has also been criticized for its extra weight, sticky steering, and slightly weaker engine compared to previous generations.
The 2017 generation of the M5 was debuted at the german gaming convention, Gamescom. The vehicle was featured in the soon to be released video game Need for Speed: Payback. This most recent generation of the M5 – the F90 – comes with a low 6-figure price tag. It also breaks the mold from previous iterations by coming standard with all wheel drive. As of right now, BMW has no plans to produce anything other than a sedan model.
Carrying insurance on a BMW M5 sedan probably isn’t going to be the most affordable expense in your monthly budget. On the other hand, you can move it closer to the bottom of the list based on where you live. Owning your own home, in a gated community, with a garage to park your M5 in at night will definitely help you get a more affordable premium. But from a macro perspective, low crime rates and lower levels of road traffic in your zip code are also great for getting discounts.
On top of that, you could get wildly different rates depending on which insurance company you want to purchase a policy from. Many insurers might be scared to sell coverage for an expensive luxury sedan like an M5. After all, if you get into a serious accident, it will cost a small fortune to repair or replace such a vehicle. On the other hand, the odds are good that if you can afford a luxury car like that, you can afford a luxury insurance policy as well. And if you’re a safe driver with other low-risk attributes, they could offer you lucrative discounts in order to make a profit over time from selling you expensive coverage.
The age of your vehicle can also have a significant impact on how much you end up paying for your monthly premiums. Obviously, a brand new 2018 M5 is going to cost more than a previous generation of the model from 5 years ago. Furthermore, since the M5 series has been around for decades, you could be looking for coverage on a 10 or 15 year old M5, assuming their previous owners have taken very good care of those vehicles. Driving an older car can save you money because repairing it or replacing it will cost your insurance company much less money. It will also free you up to purchase less coverage, which will also reduce your premiums.
There are so many factors which determine your premium which are beyond your control that you might feel like searching for a lower rate is completely hopeless. But this isn’t the case. One quick, simple thing you can do right now to save yourself some money is to compare quotes from several different companies at the same time. We’ll be happy to guide you through that process – all you have to do is type in your zip code.