It’s safe to conclude that auto insurance companies don’t want you to look at other companies. Insureds who shop around once a year are likely to switch companies because there is a high probability of finding a policy with better rates. A recent survey revealed that consumers who compared rate quotes regularly saved an average of $865 annually compared to policyholders who never compared prices.
If finding the best price on insurance is why you’re reading this, then understanding how to find companies and compare insurance rates can save time and make the process easier.
If saving the most money is your goal, then the best way to get the cheapest auto insurance rates is to do an annual price comparison from different companies who can sell car insurance in Dallas. You can compare prices by following these guidelines.
- First, spend a few minutes and learn about how insurance works and the things you can control to prevent rate increases. Many things that cause rate increases like getting speeding tickets and a negative credit history can be eliminated by improving your driving habits or financial responsibility. This article provides information to get cheaper coverage and earn a bigger discount.
- Second, request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO and Allstate, while independent agents can quote prices from multiple sources.
- Third, compare the new rates to your existing coverage to see if cheaper 535i coverage is available in Dallas. If you find a lower rate and change companies, ensure coverage does not lapse between policies.
A good tip to remember is to try to compare the same deductibles and limits on each quote and and to get price estimates from as many companies as possible. This helps ensure a level playing field and the best price selection.
Car insurance policy discounts for BMW 535i insurance in Dallas
Some insurance providers don’t necessarily list all available discounts very well, so the next list breaks down a few of the more common and the harder-to-find credits that may apply to you. If you do not double check each discount you deserve, you could be getting lower rates.
- Driver Safety – Passing a safe driver class could save 5% or more and easily recoup the cost of the course.
- Telematics Data – Drivers who elect to allow companies to look at vehicle usage by using a telematics device such as Progressive’s Snapshot may get a rate reduction as long as they are good drivers.
- 55 and Retired – If you qualify as a senior citizen, you may receive a slight reduction on a Dallas car insurance quote.
- Student Driver Training – Have your child enroll and complete driver’s education as it will make them better drivers and lower rates.
- Multi-line Discount – Larger companies have a small discount if you purchase life insurance from them.
- ABS and Traction Control Discounts – Vehicles equipped with ABS or steering control can reduce accidents so you can save 10 percent or more.
We need to note that most of the big mark downs will not be given to all coverage premiums. Most cut the cost of specific coverages such as collision or personal injury protection. Even though it may seem like you could get a free car insurance policy, it doesn’t quite work that way.
The illustration below shows the difference between BMW 535i premium costs with and without discounts. The rates are based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, marriage, claim-free, and safe-driver discounts applied.
Companies who might offer these discounts may include but are not limited to:
Before purchasing a policy, check with every insurance company to apply every possible discount. Some of the discounts discussed earlier may not be available in Dallas.
Finding a lower price on insurance can be quick and easy. Just invest a few minutes to compare rate quotes to find the company with inexpensive Dallas car insurance quotes.
The car insurance companies shown below offer price comparisons in Texas. If multiple companies are shown, we recommend you visit as many as you can to get a more complete price comparison.
BMW 535i insurance rates and statistics
The rate information displayed next highlights detailed analysis of rate quotes for BMW 535i models. Having a better idea how auto insurance prices are established can benefit drivers when making smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $390 | $890 | $430 | $26 | $128 | $1,864 | $155 |
| 535I xDrive Station Wagon | $390 | $890 | $430 | $26 | $128 | $1,864 | $155 |
| 535I GT 4-Dr Sedan | $390 | $890 | $430 | $26 | $128 | $1,864 | $155 |
| 535I xDrive 4-Dr Sedan | $428 | $890 | $430 | $26 | $128 | $1,902 | $159 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rate information does not factor in specific Dallas garaging location which can decrease or increase insurance rates substantially.
How high should deductibles be?
One common question asked by Dallas drivers is where to set your physical damage deductibles. The following insurance rates highlight the price difference when you choose different coverage deductibles. The first set of rates uses a $100 physical damage deductible and the second price chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I xDrive Station Wagon | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I GT 4-Dr Sedan | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I xDrive 4-Dr Sedan | $496 | $908 | $382 | $22 | $114 | $1,947 | $162 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I xDrive Station Wagon | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I GT 4-Dr Sedan | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I xDrive 4-Dr Sedan | $362 | $614 | $382 | $22 | $114 | $1,494 | $125 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Table data does not factor in specific garaging location which can decrease or increase coverage prices considerably.
We can derive from the above data that using a $100 deductible costs roughly $37 more each month or $444 every year averaged for all 535i models than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally average at least 11 months between claim filings, you would most likely save money if you elect the higher deductible. Here’s a better example of how you can make this decision for your own policy.
| Average monthly premium for $100 deductibles: | $160 |
| Average monthly premium for $500 deductibles (subtract): | – $123 |
| Monthly savings from raising deductible: | $37 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $37 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 11 months |
Safe drivers Dallas pay cheaper rates
The information below demonstrates how traffic citations and accidents can raise BMW 535i insurance premiums for different categories of driver ages. The prices are based on a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
How much more does full coverage cost?
The illustration below illustrates the difference between BMW 535i premium costs with full physical damage coverage and with liability coverage only. The data assumes no violations or accidents, $500 deductibles, single marital status, and no discounts are factored in.
When to drop comprehensive and collision coverage
There is no set guideline to exclude physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your BMW 535i replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after paying your policy deductible. If it’s costing in excess of $600 annually for full coverage, then you might want to consider buying only liability coverage.
There are some scenarios where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.
How Your 535i Insurance Premiums are Determined
An important part of buying insurance is that you know the rating factors that play a part in calculating your premiums. When consumers understand what influences your rates, this allows you to make educated decisions that can help you get lower premium levels.
The items below are some of the items used by your company to calculate rates.
City dwellers may pay more – Being located in smaller towns and rural areas of the country can be a good thing when talking about insurance. People who live in big cities have much more traffic and higher rates of accident claims. Fewer drivers and short commutes means fewer accidents in addition to lower liability claims.
Marriage discount – Walking down the aisle actually saves money on your policy. It usually means you are more financially stable and it’s statistically proven that married couples file fewer claims.
Gender impacts rates – Statistics show that women are safer drivers than men. This data doesn’t prove that men are worse drivers. Women and men cause fender benders at a similar rate, but the men get into accidents with more damage. Not only are claims higher, but men receive more major tickets such as reckless driving. Young males cause the most accidents and therefore have the most expensive insurance rates.
The illustration below visualizes the comparison of BMW 535i premium costs for male and female drivers. The rate quotes are based on no violations or claims, comprehensive and collision coverage, $250 deductibles, marital status is single, and no additional discounts are factored in.
Good credit means lower prices – A driver’s credit rating is a big factor in determining what you pay for insurance. So if your credit history is low, you could potentially save money when insuring your BMW 535i by improving your credit score. Drivers with good credit tend to be more responsible and file fewer claims than drivers who have lower ratings.
Annual mileage and car insurance costs – Driving a lot of miles each year the higher the price you pay to insure it. Most insurance companies calculate rates partially by how you use the vehicle. Cars and trucks that do not get driven very much can get a lower rate than cars that get driven a lot. Having the wrong rating on your 535i can result in significantly higher rates. Double check that your insurance policy correctly shows the right rating data, because improper ratings can cost you money.
Compare prices but still have a local Dallas insurance agent
Many people prefer to buy from a local agent and that is a smart decision Experienced insurance agents can help you choose the best coverages and will help you if you have claims. A nice benefit of getting free rate quotes online is the fact that you can find cheap car insurance quotes but also keep your business local. Buying from small agencies is still important in Dallas.
To find an agent, once you fill out this quick form, your insurance coverage information is immediately sent to agents in your area who will give you quotes for your insurance coverage. It’s much easier because you don’t need to contact an agency as quotes are delivered straight to your inbox. If you want to compare rates from a particular provider, you just need to search and find their rate quote page and fill out the quote form the provide.
Picking an insurance company requires you to look at more than just a cheap quote. These are some questions you should get answers to.
- How long have they been in business?
- Is insurance their full-time profession?
- How will an accident affect your rates?
- Did they already check your driving record and credit reports?
- Are there any discounts for paying up front?
If you receive answers to your satisfaction to these questions as well as inexpensive BMW 535i insurance in Dallas quotes, you may have found a company that meets the criteria to insure your vehicles. Keep in mind policyholders can terminate your policy at any time so don’t think that you’re stuck with the car insurance policy for the full term.
Car insurance protects more than just your car
Even though it can be expensive, paying for car insurance serves an important purpose.
- The majority of states have minimum liability requirements which means you are required to carry a specific minimum amount of liability in order to drive the car. In Texas 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 you have a loan on your BMW 535i, more than likely the lender will make it a condition of the loan that you buy insurance to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the bank may insure your BMW at a significantly higher premium and force you to pay a much higher amount than you were paying before.
- Car insurance preserves not only your car but also your financial assets. Insurance will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense in the event you are sued. If damage is caused by hail or an accident, your car insurance policy will pay to restore your vehicle to like-new condition.
The benefits of having insurance are definitely more than the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $865 each year so we recommend shopping around at every renewal to be sure current rates are still competitive.
How much can you save?
When getting Dallas car insurance quotes online, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many situations where an accident victim reduced full coverage only to discover later that the few dollars in savings costed them thousands. The ultimate goal is to buy a smart amount of coverage at the best possible price, but do not skimp to save money.
Consumers who switch companies do it for any number of reasons including lack of trust in their agent, delays in responding to claim requests, an unsatisfactory settlement offer or even policy non-renewal. No matter why you want to switch, finding a new company can be easier than you think.
Discount BMW 535i insurance in Dallas is attainable from both online companies and from local agencies, so you should compare both to have the best rate selection. Some insurance companies may not have internet price quotes and usually these small insurance companies provide coverage only through independent agents.
More tips and info about car insurance can be found at these sites:
- Keeping Children Safe in Crashes Video (iihs.org)
- What Car Insurance is Cheapest for a Toyota RAV4 in Dallas? (FAQ)
- How Much are Dallas Car Insurance Rates for a Toyota Tacoma? (FAQ)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Bodily Injury Coverage (Liberty Mutual)
- What does Personal Injury Protection (PIP) Cover? (Allstate)