Lower your BMW 535i Insurance Rates in Three Easy Steps
If shopping for auto insurance was more enjoyable, it would get done more often. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. Insuring your BMW 535i is probably no exception.
Step One: Compare Rates
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. But now you can eliminate that hassle and buy online!
Comparing insurance rates for a BMW 535i only require you to enter your information once. You'll receive multiple quotes and can easily compare rates.
Simply click the link below to start a quote that will compare rates from many companies and you may find a lower rate than you're currently paying.
Important! If you already have liability and physical damage coverage on your 535i, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: Tried and True Ways to Save on 535i Insurance
Now that you have several rates to compare (since you did compare rates above, right?), we will now show you some additional ways you can lower your 535i insurance rates.
- The BMW 535i is a high performance vehicle. Insurance rates are higher on cars that offer larger engines, more horsepower or increased risk of accident or rollover.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- OEM repair parts for the 535i cost more due to the higher quality. You will pay more for insurance because of this.
- You can check your credit score for free once a year, and it's a good idea to address any problems you find. Better credit results in better insurance rates.
- If you've recently completed a driver's training or safety course, tell your insurance company. You may qualify for a 5-10% discount.
- The less chance of injury to passengers in an accident means lower insurance rates. Vehicles with safety features like side-impact airbags, head injury protection, antilock bracks and traction control generally will be cheaper to insure.
- Consider using higher deductibles for physical damage coverages like comprehensive and collision. Higher deductibles save money since you're willing to pay more out-of-pocket at claim time.
- Vehicles that tend to get stolen or have high repair costs will cost you more to insure. If your 535i falls into either category, it could cost you.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- Being a homeowner can often get you a little discount on your auto insurance. Insuring you home with the same company as your autos can often get you even deeper discounts.
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- If you're a young driver, you will pay more to insure a 535i. There isn't anything you can do about your age, but rates will drop as you mature.
- Do not allow your current car insurance coverage to lapse or expire. Insurance companies have a simple way to find out when your last policy ended (called a CLUE report), and if you went without coverage for any length of time you may pay more for coverage.
Step Three: Choose a Company and Bind Coverage
Knowing which company to insure your 535i with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
The key thing to keep in mind when buying a new policy is you do not want your old policy to lapse. Make sure the effective date of the new policy is on or before the expiration date of your current policy.
Any time you buy a new vehicle, make sure you have car insurance in place, either from an existing policy or a new policy that you purchase from the dealership floor. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
All states require you to keep the proof-of-insurance or financial responsibility card in your vehicle at all times. Failure to produce this document can result in a citation. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.