Finding cheaper insurance for your BMW M5 in Georgia can be a lot of work, but you can use these tips to make it easier. There is a better way to compare auto insurance rates and we’ll show you the absolute fastest way to quote coverages for a BMW and find the cheapest rates from Atlanta insurance agents and online providers.
Astonishing but true, 70% of consumers kept buying from the same company for over three years, and just under half have never even compared rates from other companies. U.S. drivers could save an average of approximately $860 each year just by comparing rates, but most tend to underestimate how much savings they would realize if they bought a different policy.
Buying the cheapest auto insurance in Atlanta seems hard but is not really that difficult. If you have a current auto insurance policy or are just looking to switch companies, use these tips to find better prices without reducing coverage. Shoppers only have to learn the proper methods to compare rate quotes on the web.
Lowering your insurance rates is actually quite simple. All that’s required is to take time getting comparison quotes to find the company with inexpensive Atlanta car insurance quotes.
The providers in the list below are ready to provide free quotes in Atlanta, GA. If multiple providers are shown, we recommend you click on several of them to get the best price comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $266 | $598 | $444 | $26 | $134 | $1,468 | $122 |
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Premium costs do not factor in specific Atlanta garaging location which can lower or raise rates significantly.
Deductible comparison
One frequently asked question is which deductibles should you choose. The following tables determine the differences in price between low and high insurance deductibles. The first price estimate table uses a $100 physical damage coverage deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $556 | $1156 | $394 | $24 | $118 | $2,273 | $189 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| M5 4-Dr Sedan | $406 | $782 | $394 | $24 | $118 | $1,724 | $144 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Georgia minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Price estimates do not factor in vehicle garaging location which can revise prices greatly.
Based on the figures above, using a $100 deductible costs roughly $45 more each month or $540 a year than selecting the higher $500 deductible. Since the policyholder would be required to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you usually have more than 9 months between claim filings, you would probably come out ahead if you elect the higher deductible.
Calculation for raising deductibles
| Average monthly premium for $100 deductibles: | $189 |
| Average monthly premium for $500 deductibles (subtract): | – $144 |
| Monthly savings from raising deductible: | $45 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $45 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 9 months |
An important sidenote is that higher deductibles means you will have to pay more out-of-pocket when you do file a claim. You must have some money saved in order to pay the deductible for vehicle repair.
Rate comparison for different deductibles
The chart below shows how choosing a deductible and can raise or lower BMW M5 insurance rates for different age groups of insureds. The premiums assume a single female driver, full coverage, and no discounts are factored in.
Car insurance protects more than just your car
Even though it’s not necessarily cheap to insure a BMW in Atlanta, car insurance may be mandatory for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability if you drive a vehicle. In Georgia these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your BMW has a loan, it’s most likely the lender will force you to buy insurance to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your BMW at a significantly higher premium and force you to reimburse them the higher price.
- Car insurance preserves both your assets and your BMW. It will also reimburse you for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers legal expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of buying car insurance outweigh the cost, particularly if you ever have a claim. The average driver in America is overpaying more than $800 each year so you should quote rates once a year at a minimum to save money.
Auto insurance policy discounts you can’t miss
Insurance can be prohibitively expensive, but you might already qualify for some discounts that you may not even be aware of. Many discounts should be triggered at quote time, but some discounts are required to be specifically requested before they will apply. If you aren’t receiving every discount you deserve, you are throwing money away.
- Early Payment Discounts – If you pay your entire premium ahead of time rather than paying in monthly installments you can avoid monthly service charges.
- Discount for Good Grades – A discount for being a good student can earn a discount of 20% or more. You can use this discount normally up to age 25.
- Data Collection Discounts – Insureds that choose to allow data collection to analyze their driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
- Military Discounts – Having a family member in the military could trigger a small discount.
- Drive Less and Save – Maintaining low annual mileage can qualify you for lower auto insurance rates on the low mileage vehicles.
- College Student – Youth drivers who are enrolled in higher education away from home without a vehicle on campus may be able to be covered for less.
- Multi-policy Discount – When you combine your auto and home insurance with one insurance company you could earn a discount of as much as 10 to 15 percent.
- Defensive Driving Course – Taking a course in defensive driver could possibly earn you a 5% discount depending on where you live.
As is typical with insurance, most discount credits are not given to the overall cost of the policy. Some only reduce individual premiums such as collision or personal injury protection. Even though the math looks like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.
A list of companies and a selection of discounts include:
- GEICO has discounts for military active duty, driver training, multi-vehicle, federal employee, and five-year accident-free.
- USAA includes discounts for annual mileage, multi-vehicle, loyalty savings, driver training, and new vehicle.
- Progressive offers premium reductions for online signing, continuous coverage, homeowner, multi-vehicle, and online quote discount.
- American Family offers discounts including Steer into Savings, multi-vehicle, early bird, mySafetyValet, defensive driver, and TimeAway discount.
- Esurance offers discounts for good driver, multi-car, multi-policy, claim free, and Switch & Save.
- Farmers Insurance may have discounts that include business and professional, pay in full, electronic funds transfer, good student, switch companies, multi-car, and distant student.
- State Farm may offer discounts for anti-theft, defensive driving training, multiple policy, student away at school, good student, Drive Safe & Save, and accident-free.
When quoting, ask every company which discounts they offer. Discounts may not apply in every state. To find companies that provide some of the discounts listed above in Georgia, click here.
Local Atlanta auto insurance agents and auto insurance
Some consumers just want to have an agent’s advice and that can be a great decision Good insurance agents are very good at helping people manage risk and give you someone to call. A nice benefit of comparing rate quotes online is you may find the best rates and still choose a local agent.
To find an agent, once you fill out this short form, your coverage information is sent to companies in Atlanta who will return price quotes for your business. You never need to drive around since rate quotes are delivered directly to you. If you have a need to quote rates for a specific company, don’t hesitate to jump over to their website to submit a rate quote request.
Deciding on an provider requires more thought than just the price. Get answers to these questions too.
- Is every driver in your family covered?
- Does the agency have a good rating with the Better Business Bureau?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Who are their largest clients?
- What kind of financial rating does the company have?
- How experienced are they in personal risk management?
- What will you get paid if your car is a total loss? How is that amount determined?
When researching a reputable agency, it’s important to understand the types of agencies and how they differ in how they quote coverages. Agents in Atlanta are considered either independent agents or exclusive agents depending on their employer. Both types can sell and service auto insurance coverage, but it is important to understand the difference in the companies they write for since it could factor into the type of agent you choose.
Exclusive Insurance Agents
Agents in the exclusive channel can only provide pricing for a single company and examples are State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot shop your coverage around so they have no alternatives for high prices. Exclusive insurance agents are highly trained on what they offer and that can be a competitive advantage. Some people will only use the same exclusive agent mostly because of the prominence of the brand rather than low rates.
The following is a short list of exclusive insurance agencies in Atlanta that are able to give price quote information.
- Shiron Kilgore – State Farm Insurance Agent
42 Forsyth St NW – Atlanta, GA 30303 – (404) 527-4883 – View Map - Kaitlin Ponce – State Farm Insurance Agent
2285 Peachtree Rd #204 – Atlanta, GA 30309 – (404) 390-1190 – View Map - Jared Mula – State Farm Insurance Agent
3220 Cobb Pkwy SE #202 – Atlanta, GA 30339 – (770) 874-3325 – View Map
Independent Auto Insurance Agents
Independent agencies do not work for one specific company and that allows them to write policies with any number of different companies and get you the best rates possible. If your agent finds better pricing, the business is moved internally and you can keep the same agent. When searching for an agent, we recommend you get rate quotes from several independent agencies to ensure the widest selection of prices. A lot of them also have access to different regional companies that may provide cheaper auto insurance rates.
Listed below is a short list of independent agencies in Atlanta who can help you get rate quotes.
- Snellings Walters Insurance Agency
1117 Perimeter Center W – Atlanta, GA 30338 – (770) 396-9600 – View Map - Nationwide Insurance: Tommy Jones Agency
3201 Atlanta Industrial Pkwy NW b220 – Atlanta, GA 30331 – (404) 660-3821 – View Map - Georgia Insurance Brokerage
193 Auburn Ave NE – Atlanta, GA 30303 – (404) 525-1600 – View Map
One last thing to lower rates
We just covered a lot of tips how to compare BMW M5 insurance car insurance rates in Atlanta. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. Consumers could even find that the lowest priced auto insurance comes from a smaller regional carrier.
Consumers leave their current company for many reasons like high prices, poor customer service, delays in paying claims or even policy cancellation. Regardless of your reason, finding the right auto insurance provider can be easy and end up saving you some money.
Budget-conscious BMW M5 insurance is attainable on the web and also from your neighborhood Atlanta agents, so you should compare both so you have a total pricing picture. Some insurance companies don’t offer rate quotes online and most of the time these regional carriers prefer to sell through independent insurance agents.
More detailed auto insurance information can be read in these articles:
- Think You’re a Safe Driver? (State Farm)
- What Insurance is Cheapest for Low Mileage Drivers in Atlanta? (FAQ)
- How Much is Atlanta Auto Insurance for Teenage Males? (FAQ)
- How Much are Atlanta Car Insurance Rates for Low Income Drivers? (FAQ)
- Frontal Crash Tests (iihs.org)
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Booster Seat Ratings (iihs.org)