It takes a few minutes, but the best way to find affordable quotes for BMW 535i insurance is to begin comparing prices regularly from companies who sell auto insurance in Charlotte.
- First, try to learn about the coverage provided by your policy and the measures you can take to keep rates low. Many risk factors that result in higher prices such as accidents, careless driving, and a low credit rating can be controlled by making minor driving habit or lifestyle changes. Later in this article we will cover additional ideas to find cheap prices and get bigger discounts that may have been overlooked.
- Second, quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO and State Farm, while independent agents can provide rate quotes from multiple sources.
- Third, compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you can save money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide written notification to your current company of your intent to cancel your existing policy. Submit a completed application and payment to the new company. As soon as you can, put the certificate of insurance in your vehicle.
The most important part of shopping around is to make sure you’re comparing the same level of coverage on every quote and to quote with as many auto insurance providers as possible. This provides a fair price comparison and a better comparison of the market.
A study showed that over 70% of North Carolina drivers have been with the same company for a minimum of four years, and 38% of drivers have never compared auto insurance rates at all. With the average auto insurance premium being $1,847, U.S. drivers could save an average of roughly 46.5% each year by just comparing rate quotes, but they just feel it’s too hard to go online and compare rates.
If you are paying for car insurance now, you stand a good chance to be able to buy cheaper car insurance using these methods. We hope to help educate you on how insurance works and also pocket some savings But North Carolina drivers must learn how insurance companies determine prices and use it to find better rates.
The BMW 535i Insurance Rate Equation
One of the most helpful ways to save on insurance is to to have a grasp of some of the factors that aid in calculating the rates you pay for insurance. If you have some idea of what determines base rates, this enables informed choices that can help you get lower premium levels.
Listed below are some of the most rate-impacting factors that factor into prices.
- Job impacts rates – Careers like real estate brokers, architects, and miners usually pay the highest average rates in part from high stress levels and incredibly demanding work hours. On the other hand, jobs such as actors, engineers and retirees have lower than average premiums.
- Is your vehicle theft-ready? – Driving a car with an alarm system can get you a discount on your insurance. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop vehicle theft.
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Older drivers are lower risk – Teenage drivers in North Carolina are known to be more careless behind the wheel and because of this, their insurance rates are much higher. Older people have been proven to be more responsible, statistically cause fewer accidents, and tend to be get fewer driving tickets.
The next chart is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
- Never have policy lapses – Having an insurance coverage lapse is a guaranteed way to pay more for insurance. And not only will insurance be more expensive, being ticketed for driving with no insurance may earn you a license revocation or jail time. Then you may be required to submit proof of financial responsibility or a SR-22 with the North Carolina department of motor vehicles.
- When should you not file policy claims? – If you file claims often, don’t be surprised to see either policy cancellation or increased premiums. Insurance companies in North Carolina generally give better rates to policyholders who are not frequent claim filers. Insurance coverage is intended to be relied upon for more catastrophic claims.
- How much liability insurance – Your policy’s liability coverage will provide protection if ever you are responsible for damages caused by your negligence. Liability provides legal defense to defend your case. It is affordable coverage as compared to coverage for physical damage, so do not cut corners here.
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How’s your driving record? – Even a single moving violation may cause rates to rise twenty percent or more. Drivers who don’t get tickets receive lower rates than bad drivers. Drivers with license-revoking tickets like reckless driving or DUI are required to prove financial responsibility with their state motor vehicle department in order to legally drive a vehicle.
The example below illustrates how violations and accident claims impact BMW 535i premium costs for each age group. The costs are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
The best way to compare policy rates for BMW 535i insurance in Charlotte is to understand most insurance companies provide online access to compare rate quotes. The only thing you need to do is provide information including deductibles desired, how you use your vehicles, if a SR-22 is required, and if you are currently licensed. The rating information is sent automatically to many of the top insurers and they respond with quotes quickly.
To start a rate quote now, click here and find out if you can get cheaper insurance in Charlotte.
The following companies offer price quotes in North Carolina. To locate cheap car insurance in Charlotte, NC, we recommend you visit two to three different companies to find the lowest auto insurance rates.
BMW 535i coverage statistics
The coverage information shown below showcases detailed analysis of coverage costs for BMW 535i models. Learning more about how insurance policy premiums are determined is important to be able to make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $208 | $454 | $324 | $20 | $96 | $1,102 | $92 |
| 535I xDrive Station Wagon | $208 | $454 | $324 | $20 | $96 | $1,102 | $92 |
| 535I GT 4-Dr Sedan | $208 | $454 | $324 | $20 | $96 | $1,102 | $92 |
| 535I xDrive 4-Dr Sedan | $228 | $454 | $324 | $20 | $96 | $1,122 | $94 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rates do not factor in specific garaging location which can affect coverage prices greatly.
Rate comparison for different deductibles
A question often asked by Charlotte drivers is at what level do you set your deductibles. The figures shown below may aid in understanding the differences in price when you select higher and lower insurance deductibles. The first data set uses a $100 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $298 | $594 | $250 | $14 | $74 | $1,255 | $105 |
| 535I xDrive Station Wagon | $298 | $594 | $250 | $14 | $74 | $1,255 | $105 |
| 535I GT 4-Dr Sedan | $298 | $594 | $250 | $14 | $74 | $1,255 | $105 |
| 535I xDrive 4-Dr Sedan | $324 | $594 | $250 | $14 | $74 | $1,281 | $107 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $164 | $314 | $250 | $14 | $74 | $816 | $68 |
| 535I xDrive Station Wagon | $164 | $314 | $250 | $14 | $74 | $816 | $68 |
| 535I GT 4-Dr Sedan | $164 | $314 | $250 | $14 | $74 | $816 | $68 |
| 535I xDrive 4-Dr Sedan | $180 | $314 | $250 | $14 | $74 | $832 | $69 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate information does not factor in specific Charlotte garaging location which can revise coverage prices greatly.
Using the data above, we can ascertain that using a $100 deductible costs roughly $38 more each month or $456 every year than requesting the higher $1,000 deductible. Because you would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go more than 24 months between claims, you would most likely save money by selecting a higher deductible. Here is an example of how you can decide this on your own policy.
| Average monthly premium for $100 deductibles: | $106 |
| Average monthly premium for $1,000 deductibles (subtract): | – $68 |
| Monthly savings from raising deductible: | $38 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $38 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 24 months |
The chart below demonstrates how choosing different deductibles and can influence BMW 535i annual premium costs for different age groups. The premiums are based on a single female driver, full coverage, and no discounts are taken into consideration.
BMW 535i insurance rates: Men versus women
The chart below illustrates the difference between BMW 535i insurance rates for male and female drivers. The price estimates are based on no violations or accidents, full coverage, $1,000 deductibles, single status, and no other discounts are factored in.
Three reasons to insure your 535i
Even though Charlotte 535i insurance rates can get expensive, buying insurance is required for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means state laws require a specific level of liability protection in order to get the vehicle licensed. 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.
Second, if you have a loan on your car, more than likely the lender will require that you buy full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your BMW at an extremely high rate and require you to fork over much more than you were paying before.
Third, insurance protects not only your BMW 535i but also your financial assets. It will also pay for many types of medical costs that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney in the event you are sued. If you have damage to your BMW as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance outweigh the cost, particularly when you have a large claim. According to a recent study, the average American driver is overpaying over $869 every year so compare rate quotes at every renewal to be sure current rates are still competitive.
Affordable BMW 535i insurance in Charlotte
Companies don’t necessarily list their entire list of discounts in an easy-to-find place, so below is a list both well-publicized as well as some of the hidden discounts that may be available.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles can help prevent theft and that can save you a little bit as well.
- Active Service Discounts – Being deployed in the military could be rewarded with lower prices.
- Anti-lock Brakes – Anti-lock brake equipped vehicles have fewer accidents and the ABS can save up to 10%.
- Cautious Driver Discount – Insureds without accidents can save up to 40% or more on their Charlotte car insurance quote as compared to drivers with claims.
- College Student Discount – Older children who are attending college and won’t have access to an insured vehicle can receive lower rates.
- Pay Early and Save – If you can afford to pay the entire bill rather than paying in monthly installments you can avoid monthly service charges.
Discounts reduce rates, but you should keep in mind that many deductions do not apply to the entire cost. Some only apply to specific coverage prices like comp or med pay. Just because it seems like adding up those discounts means a free policy, that’s just not realistic.
The information below compares BMW 535i insurance rates with and without discounts applied. The rate quotes are based on a female driver, no violations or claims, North Carolina 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, homeowner, marriage, multi-car, and safe-driver discounts applied.
The best car insurance companies and the discounts they provide can be found below.
- Progressive may include discounts for homeowner, multi-vehicle, online signing, good student, and online quote discount.
- Farmers Insurance has savings for good student, pay in full, multi-car, mature driver, youthful driver, and distant student.
- Farm Bureau offers discounts including renewal discount, safe driver, youthful driver, multi-policy, driver training, and 55 and retired.
- State Farm includes discounts for safe vehicle, anti-theft, multiple autos, good student, defensive driving training, good driver, and passive restraint.
- GEICO may offer discounts for good student, defensive driver, emergency military deployment, anti-theft, and air bags.
- SAFECO has discounts for teen safety rewards, homeowner, teen safe driver, drive less, anti-theft, accident prevention training, and anti-lock brakes.
- Liberty Mutual may have discounts that include new move discount, exclusive group savings, new graduate, newly retired, newly married, and multi-car.
If you want cheaper Charlotte car insurance quotes, ask each company or agent how you can save money. Depending on the company, some discounts may not be available in Charlotte. To find insurance companies that offer discounts in Charlotte, click here to view.
Auto insurance agents are professional risk managers
Some people prefer to talk to a local agent and that can be a smart move An additional benefit of getting online price quotes is you may find lower rates and still have an agent to talk to. And supporting local insurance agencies is definitely important in Charlotte.
To make it easy to find an agent, after completing this form (opens in new window), the coverage information is sent to local insurance agents in Charlotte who will give you quotes for your insurance coverage. You won’t need to find an agent as quotes are delivered directly to your email. You can find lower rates without requiring a lot of work. If you want to get a rate quote for a specific company, don’t hesitate to navigate to their website and give them your coverage information.
Pick the best car insurance agent in Charlotte for you
If you are searching for a reliable insurance agent, you need to know there are two types of insurance agents and how they can write your policy. Agents in Charlotte are classified as either independent or exclusive depending on the company they work for.
Independent Insurance Agents
Independent agents are not restricted to one company and that allows them to write policies with an assortment of companies and help determine which has the cheapest rates. If they find a cheaper price, an independent agent can move your coverage which requires no work on your part. When shopping rates, we highly recommend that you check rates from several independent agencies so that you can do a thorough price comparison. Many write coverage with different regional companies that may provide cheaper car insurance rates.
The following is a small list of independent agents in Charlotte that may be able to provide free price quotes.
- O H Walker Insurance Agency Inc
2210 Crownpoint Executive Dr – Charlotte, NC 28227 – (704) 814-4343 – View Map - Nationwide Insurance: Michael Bare Agency
2300 Sardis Rd N a – Charlotte, NC 28227 – (704) 248-8000 – View Map - The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565 – View Map
Exclusive Car Insurance Agents
Exclusive agencies normally can only provide a single company’s rates and some examples include Farmers Insurance, Allstate, or State Farm. Exclusive agents cannot give you multiple price quotes so they have to upsell other benefits. Exclusive insurance agents are trained well on the products they sell which can be an advantage. Consumers often buy from the same agent for years mostly because of the brand legacy rather than low price.
Shown below are Charlotte exclusive agencies willing to provide price quotes.
- Juan Rubio – State Farm Insurance Agent
9401 Statesville Rd Ste E – Charlotte, NC 28269 – (704) 509-5854 – View Map - Matt “Woody” Woodford – State Farm Insurance Agent
501 S Sharon Amity Rd #200 – Charlotte, NC 28211 – (704) 971-3030 – View Map - Denis Wilson – State Farm Insurance Agent
1850 E 3rd St #360 – Charlotte, NC 28204 – (704) 376-4088 – View Map
Picking the best auto insurance agent requires more thought than just the bottom line cost. Ask your prospective agent these questions:
- Do they assist clients in filing claims?
- How many companies do they write for?
- What company holds the largest book of business for them?
- Is there a local claims center in Charlotte?
- How long has the business existed?
You can lower your car insurance rates
As you go through the steps to switch your coverage, it’s a bad idea to buy less coverage just to save a little money. In many cases, consumers will sacrifice liability limits or collision coverage and found out when filing a claim that the savings was not a smart move. Your objective should be to get the best coverage possible at the best cost, but do not skimp to save money.
In this article, we covered a lot of ways to save on BMW 535i insurance in Charlotte. The key thing to remember is the more quotes you get, the better your chances of lowering your auto insurance rates. Consumers could even find that the biggest savings come from a smaller regional carrier.
Drivers switch companies for many reasons like policy non-renewal, denial of a claim, delays in responding to claim requests or lack of trust in their agent. No matter why you want to switch, finding a new company is pretty easy and you might even save some money in the process.
More information is available at the links below
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Who Has Cheap Charlotte Auto Insurance Rates for a Ford F-150? (FAQ)
- How Much are Charlotte Auto Insurance Rates for First-time Drivers? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Uninsured Motorist Statistics (Insurance Information Institute)
- How to Avoid Common Accidents (State Farm)