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BMW 5 Series Sedan Car Insurance

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BMW 5 Series Sedan

Home / Car Insurance / BMW Car Insurance / BMW 5 Series Sedan Car Insurance

Purchasing your dream car, the BMW 5 Series luxury sedan, from the gleaming showroom is truly an accomplishment and an aspiration turned into reality for many. However, legally driving the BMW 5 Series on the roads requires more than just owning it. Every vehicle owner must buy mandatory car insurance to be able to legally drive their car on public roads. Let's take a closer look at why you need proper insurance for your prized BMW 5 Series and how to choose the right coverage.

Why Should You Buy Car Insurance For The BMW 5 Series?
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As per the Indian Motor Vehicles Act, 1988, all vehicle owners must have at least a basic third-party liability insurance policy to legally drive on public roads. Driving any vehicle, including your new BMW 5 Series, without valid car insurance can lead to legal action including fines or imprisonment.

Financial Security
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Opting for a comprehensive car insurance policy for your BMW 5 Series provides end-to-end financial protection. In case of any adverse incidents like accidents, damage, theft and so on, you will not have to bear the high costs for repairs or replacement from your pocket. The insurance provider will pay out the amount of the covered claim.

Liability Coverage
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A third-party liability cover, which is the basic legal requirement, covers any injury or property damage liability for third parties caused due to an accident involving your BMW 5 Series. This ensures you are protected from potentially sizable third-party car insurance claims.

The Most Common Types Of Car Insurance For BMW 5 Series
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There are two main types of motor insurance policies applicable to a BMW 5 Series sedan:

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Third-Party Liability Insurance
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This basic insurance cover protects third-party individuals from losses or damages caused by your BMW 5 Series in case of accidents or other incidents. However, it does not provide any coverage for damages to your own BMW 5 Series car.

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Comprehensive Insurance
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This extensive policy includes mandatory third-party liability coverage as per regulations and also provides coverage for own damage to your own BMW 5 Series in case of perils like accidents, theft, vandalism, natural disasters and so on. It provides holistic financial protection.

What is Covered

What is Not Covered

What Is Covered In BMW 5 Series Car Insurance?
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A standard comprehensive insurance policy for your BMW 5 Series sedan commonly includes coverage for:

  1. Third-party bodily injury and property damage liability as mandated by law. This covers legal costs as well if any third-party claims have to be defended in court.

  2. Damage to your BMW 5 Series arising from man-made incidents like civil unrest, riots, strikes, malicious acts, terrorist activities and so on. Partial or total loss is covered within defined limits.

  3. Damage or loss due to natural calamities like earthquakes, storms, floods, inundation, lightning strikes, etc. caused to your BMW 5 Series.

  4. Expenses incurred and losses arising due to fire, explosion, self-ignition, lightning or theft of the insured BMW 5 Series.

  5. Loss or damage resulting from accidents, collisions and overturning that may take place involving your BMW 5 Series.

What Is Not Covered By BMW 5 Series Car Insurance?
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While comprehensive insurance provides extensive coverage, there are certain limitations and exclusions such as:

  1. Any damage that occurs when driving under the proven influence of intoxicating substances like alcohol or drugs.

  2. Normal wear and tear of regular parts like brake pads, wipers etc due to daily usage over time. This is not classified as damage.

  3. Mechanical, electrical or electronic breakdown or failure of parts and components is excluded from coverage.

  4. Damage resulting from the use of the BMW 5 Series beyond the geographical limits defined in the policy is not covered.

  5. Any fines, penalties or punitive charges levied by authorities due to traffic or legal violations are not covered.

Add-ons For BMW 5 Series Car Insurance
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Some useful add-ons that you can opt for along with your BMW 5 Series comprehensive insurance policy are:

  1. Zero Depreciation Cover - The full cost of any replaced parts is paid without deducting any depreciation amounts.

  2. Roadside Assistance Cover - Provides round-the-clock assistance in case of breakdowns, flat tires, empty fuel tanks and other such emergencies.

  3. Engine Protection Cover - Shields specified engine parts from depreciation-linked deductions in claims.

  4. Return to Invoice - Covers full manufacturer invoice price of your new BMW 5 Series in case it is deemed a total loss after an incident.

  5. Hydrostatic Lock Cover - Insures against damage to engine parts in case water ingresses into the combustion chamber.

Benefits Of Buying ACKO Car Insurance For Your BMW 5 Series
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Choosing ACKO for your BMW 5 Series car insurance provides many useful benefits like:

  1. Zero paperwork requirements as policy application and management are completely online.

  2. Quick and convenient purchase and claims processing due to end-to-end digital procedures.

  3. Dedicated customer assistance for policy purchases, claims and renewals from experts.

  4. Cashless claims at authorized workshops and garages pan-India for hassle-free repairs.

  5. Attractive discounts on premiums for things like multi-year policies and claim-free renewals.

How To Buy/Renew BMW 5 Series Insurance From ACKO
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Follow these simple steps to purchase new or renew your expiring BMW 5 Series insurance policy from ACKO:

Step 1: Visit the ACKO website or download the mobile app.

Step 2: Enter your BMW 5 Series registration number for a quotation.

Step 3: Fill in the required details, choose the insurance plan, and add-ons as needed and complete the payment to instantly purchase the policy.

Step 4: Your insurance coverage certificate is emailed in PDF format for download.

4 Easy Steps To Raise A Claim
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ACKO has simplified the claim filing process into four simple steps:

  1. Intimate the claim by calling ACKO's helpline or via the mobile app.

  2. Provide preliminary details related to the accident/incident and upload required claim-related documents.

  3. The insured BMW 5 Series will be inspected at the nearest garage.

  4. After verification, the approved claim amount is directly credited to your bank account.

Conclusion
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Having adequate insurance, ideally from a modern insurer like ACKO, ensures your prized BMW 5 Series gets all-round protection on the road starting day one. Timely policy renewal is equally crucial for uninterrupted coverage. Follow the described quick and easy steps to buy or renew your BMW 5 Series insurance digitally in just a few minutes! Stay safe and enjoy the sheer driving pleasure.

Frequently Asked Questions on BMW 5 Series Sedan Car Insurance
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FAQs

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What documents are required to buy BMW 5 Series insurance?

You need to provide a copy of the RC book, past insurance papers if any, and KYC documents like driver's license, ID and address proof. A PUC certificate may also be required.

Is engine protection cover necessary for a BMW 5 Series?

It is recommended to get an engine protection cover for high-end cars like the BMW 5 Series as it shields critical engine parts like crankshaft, pistons etc from depreciation deductions.

What is the procedure to transfer insurance when selling a used BMW 5 Series?

Submit Form 29 and 30 signed by the buyer and seller along with the requested documents to the insurance provider. They will transfer the policy to the buyer's name.

Can I extend my BMW 5 Series insurance policy if I'm abroad during renewal?

Yes, you can submit a request to ACKO to extend the existing policy based on your return date. Premium payment can also be done online.

What is the process if I plan to modify my BMW 5 Series with accessories?

Inform ACKO about any modifications or accessories you plan to add to your insured BMW 5 Series, like alloy wheels, speakers etc. We will update the policy and charge an extra premium if needed.

What is the importance of Insured Declared Value (IDV) in BMW 5 Series insurance?

IDV or Insured Declared Value refers to the assessed value of the BMW 5 Series that you declare at the time of purchasing insurance. This value is used to calculate the premium payable. IDV also represents the maximum compensation you can claim for total loss or theft.