If you want to save money, the best way to get the cheapest BMW 535i insurance is to start comparing rates regularly from providers who sell auto insurance in Lubbock. Price quotes can be compared by following these guidelines.
Step 1: Try to learn a little about the coverage provided by your policy and the changes you can make to prevent expensive coverage. Many policy risk factors that are responsible for high rates like getting speeding tickets and an unacceptable credit history can be amended by making lifestyle changes or driving safer. Keep reading for tips to find cheap prices and get discounts that may be available to you.
Step 2: Request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can quote prices from many different companies.
Step 3: Compare the new rate quotes to your existing rates to see if a cheaper price is available. If you can save money and change companies, make sure there is no coverage gap between policies.
Step 4: Give notification to your agent or company of your decision to cancel your current car insurance policy. Submit a completed policy application and payment to the new company. Once received, place your new proof of insurance certificate in an accessible location in your vehicle.
An important part of this process is to try to compare identical coverage information on each quote request and to quote with every company you can. Doing this helps ensure an accurate price comparison and the best price selection.
Remarkably, a study showed that the vast majority of insurance customers in Texas renewed their policy with the same company for well over three years, and roughly 40% of drivers have never compared insurance rates at all. U.S. consumers could pocket nearly $859 a year by just shopping around, but they just feel it’s too hard to go online and compare rates.
When comparison shopping, there are several ways to obtain and compare prices from local Lubbock insurance companies. The best way to find affordable BMW 535i insurance rates is to use the internet to compare rates. When comparing insurance rates, know that comparing more prices gives you a better chance of getting the best offered rates. Not every company provides online Lubbock 535i insurance quotes, so it’s necessary to compare price quotes from the smaller companies as well.
The companies shown below have been selected to offer free quotes in Texas. To get cheap car insurance in Texas, we recommend you click on several of them to find the most competitive car insurance rates.
Lubbock insurance discounts
Insurance is easily one of your largest bills, but you may be missing some discounts to cut the cost considerably. Some discounts apply automatically at quote time, but some discounts are required to be specifically requested before you get the savings.
- Discount for Low Mileage – Driving less could qualify for substantially lower insurance rates.
- One Accident Forgiven – Not a discount per se, but a handful of insurance companies will let one accident slide without getting socked with a rate hike if your claims history is clear for a set time period.
- Anti-theft Discount – Vehicles with anti-theft systems can help prevent theft so companies will give you a small discount.
- Sign Online – Some of the larger companies may give you up to $50 shop Lubbock car insurance on the web.
- Driver Training Discounts – Taking time to complete a driver safety course is a good idea and can lower rates if you qualify.
- Resident Student – Kids who are attending college and do not take a car to college can receive lower rates.
- Good Grades Discount – Getting good grades may save as much as 25% on a Lubbock car insurance quote. You can use this discount normally well after school through age 25.
- Drive Safe and Save – Drivers who don’t get into accidents can save as much as half off their rates than less cautious drivers.
- Active Service Discounts – Being deployed in the military could trigger a small discount.
- Early Switch Discount – Some insurance companies provide a discount for buying a new policy prior to your current 535i insurance policy expiring. It can save you around 10%.
A little disclaimer on discounts, some credits don’t apply to the whole policy. The majority will only reduce specific coverage prices like comprehensive or collision. Just because you may think you would end up receiving a 100% discount, nobody gets a free ride.
The diagram below illustrates the comparison of BMW 535i premium costs with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no tickets, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, homeowner, multi-car, and marriage discounts applied.
A few companies that may include most of the discounts above include:
If you need cheaper Lubbock car insurance quotes, ask each insurance company which credits you are entitled to. Some of the earlier mentioned discounts may not apply in your area. To choose insurance companies that provide some of the discounts listed above in Texas, click here.
Rates and statistics
The table displayed below outlines detailed analysis of policy rates for BMW 535i models. Having a good understanding how policy premiums are figured can aid in making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $248 | $550 | $462 | $28 | $138 | $1,426 | $119 |
| 535I xDrive Station Wagon | $248 | $550 | $462 | $28 | $138 | $1,426 | $119 |
| 535I GT 4-Dr Sedan | $248 | $550 | $462 | $28 | $138 | $1,426 | $119 |
| 535I xDrive 4-Dr Sedan | $270 | $550 | $462 | $28 | $138 | $1,448 | $121 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Estimates do not factor in specific location information which can increase or decrease prices greatly.
Analysis of deductible levels
A question often asked by Lubbock drivers is at what level do you set your deductibles. The rates below highlight the premium difference between low and high coverage deductibles. The first rate comparisons uses a $100 deductible for physical damage and the second price grid uses a $1,000 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 | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I xDrive Station Wagon | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I GT 4-Dr Sedan | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I xDrive 4-Dr Sedan | $276 | $478 | $382 | $22 | $114 | $1,272 | $106 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium costs do not factor in specific Lubbock garaging location which can increase or decrease insurance rates considerably.
Based on the data above, we can derive that using a $100 deductible costs about $55 more each month or $660 a year across all BMW 535i models than selecting the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you normally average at a minimum 16 months between claim filings, you would probably save some money if you choose the higher deductible.
The illustration below illustrates how your deductible choice and can influence BMW 535i premium costs for each different age group. The information is based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.
Annual premiums comparing men and women
The example below shows the difference between BMW 535i insurance costs for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, full physical damage coverage, $500 deductibles, single status, and no policy discounts are applied.
Lubbock Insurance Premiums are Influenced by These Factors
Part of the auto insurance buying process is learning some of the factors that are used to determine your premiums. If you understand what influences your rates, this helps enable you to make changes that may reward you with lower premium levels. Lots of things are considered when premium rates are determined. Most are fairly basic like an MVR report, but other criteria are less obvious such as your marital status or your financial responsibility.
More performance means more cost – The performance level of the car you drive makes a huge difference in how high your rates are. The lowest premiums are generally reserved for low performance passenger vehicles, but other factors influence the final cost greatly.
The data below uses these assumptions: married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It illustrates BMW 535i policy rates compared to other models of vehicles that have different performances.
Driver age impacts rates – Older drivers are viewed as being more responsible, cost insurance companies less in claims, and usually have better credit. Teenage drivers have been known to be easily distracted with other occupants in the car so auto insurance rates are higher.
The data below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Careless driving leads to higher costs – Having just one speeding ticket or other violation can boost insurance rates to the point where it’s not affordable. Drivers with clean records get better prices as compared to those with violations. People who have flagrant citations such as DUI or willful reckless driving may find they need to complete a SR-22 with their state’s department of motor vehicles in order to legally drive.
The diagram below shows how violations and at-fault fender-benders influence BMW 535i car insurance costs for different insured age categories. The prices are based on a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Getting married brings a discount – Having a significant other may cut your premiums on your policy. It translates into being more responsible and insurance companies reward insureds because married drivers get in fewer accidents.
Know your vehicle’s IIHS safety rating – Vehicles with high crash test scores are cheaper to insure. Safer cars help reduce the chance of injuries in an accident and reduced instances of injuries means your insurance company pays less and lower rates for you.
Prevent theft and save – Owning a car with a theft deterrent system can get you a discount on your auto insurance. Systems that thwart thieves such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder your vehicle from being stolen.
A policy lapse is a bad thing – Going without insurance will be a fast way to drive up your policy premiums. Not only will rates go up, failure to provide proof of insurance could earn you a steep fine or even jail time.