BMW 5 Series Insurance

BMW is known to manufacture stunners that blend state-of-the-art technology with aesthetic designs. A BMW car is like a priceless possession! Hence, you would want to ensure that it is always in its finest condition. However, maintaining luxury cars like the BMW 5 Series can burn a hole into your pocket. It is advisable to go for BMW car insurance plans to ensure that your beast is in its prime at all times with minimal financial burden. Let’s explore the BMW 5 Series price, specifications, variants, and more.

Here are the 4 BMW 5 Series variants.

Note: The actual BMW 5 Series price for all variants are subject to change and may vary from time to time.

There are 2 main types of BMW 5 Series car insurance plans. Let’s understand the two in brief.

Third-Party Insurance Cover

The Motor Vehicle Act, 1988 makes it mandatory for car owners to insure their car with third-party coverage. It protects you against all possible liabilities such as injury, death, damage to property, etc. The third-party liability insurance policy also ensures that you are on the right side of the law.

Comprehensive Insurance Cover

A comprehensive insurance policy covers both you and the third party against unforeseen emergencies. It basically merges the benefits of the third-party liability cover, own-damage cover, and personal accident cover into a comprehensive plan. It also provides coverage for the owner in case of permanent disability or death due to the car.

Here’s what the BMW 5 Series car insurance policy covers-

 

• Damages by self

• Personal accident and loss due to theft

• Third-party liabilities

Here are a few things that are not covered under the BMW 5 Series car insurance policy-

 

• Damages due to wars and perils

• Mechanical and electrical breakdown

• Depreciation of value of the car

• Damages while driving under the influence of alcohol

• Wear and tear to the car and tyres

• Damages that are incurred outside the geographical limit of the country

Add-on covers make your insurance policy even more lucrative. It is advisable to opt for the following add-on covers to alleviate the financial burden and tackle multiple challenges with ease. Here are a few of them:

Emergency Assistance Cover

With this add-on, you no more have to worry about dealing with emergencies.

No Claim Bonus Protection

Avail no-claim bonus for BMW 5 Series even if you file two claims the same year.

Passenger Cover

This add-on would provide coverage for any passenger who is injured during an accident.

Engine Protect Cover

It covers expenses incurred for repairing the damage caused to your car's engine due to water seepage, oil leakage, or other corrosive issues.

Zero Depreciation Cover

This would cover your car's depreciation value for its external parts. It also takes care of the replacement and/or repair expenses of all its parts.

Follow the below steps to apply for BMW 5 Series insurance online.

 

Step 1: Go to your insurer’s official website.

 

Step 2: Click on the car insurance option. Enter your car registration number and contact number.

 

Step 3: Now, enter your personal details and pick the type of coverage you want.

 

Step 4: Complete the process by paying the insurance price through any mode of payment. Once you pay the premium, you will have an active car insurance policy.

Here’s the step-by-step guide for BMW 5 Series car insurance renewal.

 

Step 1: Visit the official website of your insurance provider.

 

Step 2: Enter your car registration number and phone number.

 

Step 3: Now, enter your policy details and check your renewal premium amount.

 

Step 4: Finally, pay your premium online through any payment method and download your renewed policy copy.

There are 2 ways of claiming your BMW 5 Series car insurance. Let’s understand the two in brief.

Claim Cashless Car Insurance for BMW 5 Series

With the cashless settlement option, you do not have to pay for any damages. Your insurance company will directly settle the payment with the garage. However, to avail this feature, you need to visit one of your provider’s network garages.

Claim Reimbursement for BMW 5 Series

Here, you need to first make the payment and then claim reimbursement. The claim is settled once your bills and documents are assessed.

Let us understand the process to claim your car insurance.

Process for Filing Cashless Claims for BMW 5 Series

Follow this easy 4-step process for cashless claims.

 

Step 1: Immediately inform your insurance company about the damages and share all the details related to the incident.

 

Step 2: Take pictures for proof and submit the same.

 

Step 3: Take your vehicle to the network garage for the surveyor to examine the damages.

 

Step 4: Once a report is submitted by the surveyor and your insurance claim request is accepted, the insurance company will directly pay for the damages to the garage.

 

Process for Filing Reimbursement Claims for BMW 5 Series

Follow these 4 easy steps to file a reimbursement claim.

 

Step 1: Intimate your insurer about the damages and take your car to any garage.

 

Step 2: The damage to your car will be assessed by a surveyor.

 

Step 3: Submit your claim report, so the repair process in the garage can begin.

 

Step 4: Submit all the required documents and your invoice to the insurer to get a reimbursement.

In case of an accident, submit the following documents to claim your BMW 5 Series insurance.

 

• Copy of insurance policy, vehicle’s registration certificate, licence, and FIR

• Tax receipt

• Filled and signed claim form

• Repair bills and payment receipts

• Vehicle inspection address

• Vehicle repair cost estimate

 

In case of theft, submit the following documents to process your claim-

 

• FIR and final report of police

• Tax receipt

• Original insurance policy document and RC book

• Claim discharge voucher

• Theft declaration from RTO

• Letter of Subrogation

• Form 28, 29, 30, and 35

 

While third-party car insurance is mandatory, it is best to go for a comprehensive car insurance policy. It provides better coverage, meaning minimal financial stress during grim situations. At Bajaj Markets, we provide various car insurance policies that include both third-party and comprehensive coverage for BMW 5 Series. We ensure a smooth application process, discounts, and quick claim settlement. With us, you can enjoy complete coverage at the best BMW 5 Series insurance cost.