Everyone knows that insurance companies don’t want you to look for cheaper rates. Drivers who shop around will probably move their business because there is a good chance of finding coverage at a more affordable price. A survey found that consumers who regularly shopped around saved as much as $865 a year compared to drivers who never compared prices.
If finding the best price on BMW 535i insurance in Raleigh is your objective, understanding how to quote and compare insurance rates can save time and make the process easier.
If you want to save the most money, the best way to get discount auto insurance rates in Raleigh is to annually compare prices from companies who can sell car insurance in North Carolina.
- Try to understand auto insurance and the changes you can make to drop your rates. Many policy risk factors that drive up the price like at-fault accidents, speeding tickets, and a poor credit rating can be controlled by making minor driving habit or lifestyle changes.
- Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from one company like Progressive or Allstate, while independent agents can give you price quotes from multiple insurance companies.
- Compare the quotes to your current policy and determine if cheaper 535i coverage is available. If you find a lower rate quote and change companies, make sure coverage does not lapse between policies.
A good tip to remember is that you use the same deductibles and limits on each quote request and and to get quotes from as many companies as feasibly possible. This provides the most accurate price comparison and plenty of rates choose from.
If you’re already insured, you will be able to reduce the price you pay using the following tips. We hope to introduce you to the best way to buy inexpensive car insurance. But North Carolina consumers can benefit from knowing how insurance companies calculate your policy premium because rates are impacted by many factors.
When comparing car insurance rates, know that having more price comparisons gives you a better chance of getting a better price. Not every company allows you to get online rate quotes, so it’s necessary to compare quotes from the smaller companies as well.
The following companies provide quotes in North Carolina. To locate cheap car insurance in Raleigh, NC, it’s highly recommended you click on several of them to get a more complete price comparison.
Three reasons to insure your BMW 535i
Despite the high cost, maintaining insurance is not optional due to several reasons.
- Just about all states have mandatory insurance requirements which means you are required to carry specific minimum amounts of liability protection in order to be legal. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your BMW 535i has a lienholder, most banks will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If you default on your policy, the bank will be required to insure your BMW at a much higher premium rate and force you to reimburse them much more than you were paying before.
- Car insurance preserves both your assets and your car. Insurance will also pay for all forms of medical expenses that are the result of an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of having car insurance outweigh the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying over $850 per year so we recommend shopping around at every renewal to help ensure money is not being wasted.
Coverage statistics and figures
The rate table displayed below covers detailed analysis of insurance costs for BMW 535i models. Having insight into how auto insurance premiums are established helps drivers make decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|535I 4-Dr Sedan||$230||$488||$282||$16||$84||$1,100||$92|
|535I xDrive Station Wagon||$230||$488||$282||$16||$84||$1,100||$92|
|535I GT 4-Dr Sedan||$230||$488||$282||$16||$84||$1,100||$92|
|535I xDrive 4-Dr Sedan||$250||$488||$282||$16||$84||$1,120||$93|
|Get Your Own Custom Quote Go|
Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Price estimates do not factor in Raleigh location which can influence price quotes considerably.
The diagram below shows how choosing a deductible and can change BMW 535i yearly insurance costs for different categories of driver ages. The premiums are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.
Safe drivers pay cheaper rates
The information below demonstrates how traffic citations and at-fault fender-benders impact BMW 535i car insurance costs for different age groups of insureds. The premium estimates are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.
Premiums by gender and age
The diagram below compares BMW 535i car insurance costs for male and female drivers. The data assumes no claims or violations, comp and collision included, $1,000 deductibles, marital status is single, and no discounts are factored in.
Difference between full coverage and liability only rates
The example below shows the comparison of BMW 535i car insurance rates with and without physical damage coverage. The premiums assume no accidents or driving violations, $250 deductibles, single marital status, and no discounts are applied.
When to drop full coverage
There is no specific rule to stop paying for full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your BMW 535i settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,000 after paying your deductible. If you are paying over $600 a year for full coverage, then you might want to think about dropping full coverage.
There are some circumstances where buying only liability insurance is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not drop full coverage.
These discounts can slash BMW 535i insurance rates
The price of auto insurance can be rather high, but you may find discounts to help offset the cost. A few discounts will automatically apply when you purchase, but once in a while a discount must be specially asked for before you will receive the discount. If you aren’t receiving every discount available, you could be paying more than you need to.
- Safety Restraint Discount – Using a seat belt and requiring all passengers to buckle up before driving can save a little off PIP or medical payments premium.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles can stop better under adverse conditions and will save you 10% or more on 535i insurance in Raleigh.
- Paper-free Discount – Many companies will give you a small discount for buying your policy on the web.
- Homeowners Savings – Simply owning a home can get you a discount due to the fact that maintaining a home requires a higher level of personal finance.
- No Accidents – Drivers who don’t have accidents have much lower rates compared to insureds who have frequent claims or accidents.
- More Vehicles More Savings – Purchasing coverage when you have several vehicles on one policy can get a discount on all vehicles.
Keep in mind that most discounts do not apply to the whole policy. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like you could get a free insurance policy, you aren’t that lucky.
The chart below shows the difference between BMW 535i insurance rates with and without discounts being applied to the rates. The premiums are based on a male driver, no tickets, no at-fault accidents, North Carolina state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, safe-driver, multi-policy, claim-free, and homeowner discounts applied.
If you would like to view providers that offer multiple discounts in Raleigh, follow this link.