It’s well known that insurance companies don’t want you comparing rates. Insureds who shop around for cheaper price quotes will presumably switch car insurance companies because the odds are good of finding a policy with more affordable rates. A recent car insurance study discovered that drivers who compared prices regularly saved approximately $3,500 over four years as compared to drivers who never shopped for cheaper rates.
If finding the best rates on insurance is your intention, learning how to find companies and compare insurance rates can make it simple to find affordable coverage.
Really, the only way to find more affordable BMW 535i insurance in Boston is to regularly compare price quotes from companies who can sell car insurance in Massachusetts.
- Step 1: Take a little time to learn about individual coverages and the factors you can control to prevent expensive coverage. Many things that result in higher prices such as high-risk driving behaviors and poor credit can be improved by paying attention to minor details.
- Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from a single company like Progressive or State Farm, while independent agencies can provide price quotes for many different companies.
- Step 3: Compare the new rate quotes to your existing policy and determine if cheaper 535i coverage is available in Boston. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
One tip to remember is to use the same coverage limits and deductibles on every quote request and and to look at as many car insurance companies as possible. Doing this helps ensure a level playing field and a good representation of prices.
Quoting and comparing rates for the most affordable insurance policy in Boston is easy if you know what you’re doing. Essentially every driver who compares rates for insurance most likely will find a lower price. Nevertheless, Massachusetts car owners do need to know how companies price online insurance because rates fluctuate considerably.
BMW 535i insurance charts and tables
The data table below showcases different insurance rates for BMW 535i models. Having insight into how insurance prices are formulated can help drivers make smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|535I 4-Dr Sedan||$216||$484||$404||$24||$122||$1,250||$104|
|535I xDrive Station Wagon||$216||$484||$404||$24||$122||$1,250||$104|
|535I GT 4-Dr Sedan||$216||$484||$404||$24||$122||$1,250||$104|
|535I xDrive 4-Dr Sedan||$236||$484||$404||$24||$122||$1,270||$106|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Massachusetts minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate quotes do not factor in vehicle garaging location which can lower or raise premium rates considerably.
The information below illustrates how your deductible choice and can impact BMW 535i premium costs for each age group. The data is based on a single male driver, full physical damage coverage, and no discounts are taken into consideration.
Full coverage versus liability-only in Boston
The illustration below visualizes the comparison of BMW 535i insurance costs when comparing full coverage to liability only. The costs are based on no claims or driving violations, $250 deductibles, single status, and no discounts are taken into consideration.
When to stop buying physical damage coverage
There is no clear-cut formula to stop paying for full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s say your BMW 535i replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $3,000 after the deductible is paid. If you are paying more than $300 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are some cases where eliminating full coverage is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Learn How to Lower Your Insurance Prices
When buying auto insurance it’s important to understand the different types of things that go into determining the rates you pay for auto insurance. If you have some idea of what determines premiums, this helps enable you to make changes that may reward you with lower rates.
Optional features that lower rates – Choosing to buy a car with a theft deterrent system can help lower your rates. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft.
High performance equals high rates – The make and model of the car or truck you are trying to find cheaper insurance for makes a big difference in determining your rates. The most favorable rates are generally reserved for the lowest performance passenger cars, but many other things help determine your insurance rates.
The following data is based on a married female driver age 20, full coverage with $100 deductibles, and no discounts or violations. It illustrates BMW 535i policy rates compared to other models that have a range of performances.
Don’t skimp on liability insurance – Your auto insurance policy’s liability coverage will protect you when you are found liable for damages caused by your negligence. Your policy’s liability insurance provides you with a defense in court starting from day one. This coverage is very inexpensive when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
Cheap prices for being claim-free – If you file claims often, you can pretty much guarantee much higher rates or policy non-renewal. Auto insurance companies in Massachusetts provide cheaper rates to insureds who file claims infrequently. Your insurance policy is intended for the large, substantial claims.
Pay less after the wedding – Having a wife or husband can actually save you money when buying auto insurance. Having a spouse usually means you are more financially stable and insurance companies reward insureds because being married results in fewer claims.
Accidents cost more than a fine – Your driving citation history has a huge affect on how much you pay. Only having one moving violation can bump up the cost to the point where it’s not affordable. Drivers who don’t get tickets pay less for auto insurance than bad drivers. Drivers who have received serious violations like DUI, reckless driving or excessive speeding may face state-mandated requirements to maintain a SR-22 with their state DMV in order to prevent a license revocation.
The example below shows how violations and fender-benders drive up BMW 535i auto insurance costs for each age group. The costs are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Boston car insurance companies
Picking a good quality auto insurance provider can be rather challenging considering how many companies are available to choose from in Massachusetts. The information listed below may help you decide which coverage providers to look at comparing rates from.
Top 10 Boston Car Insurance Companies Ranked by Customer Service
- Mercury Insurance
- Titan Insurance
- The Hartford
- American Family
- State Farm
Be persistent and save
We just showed you quite a bit of information on how to compare BMW 535i insurance prices in Boston. It’s most important to understand that the more companies you get rates for, the better your chances of lowering your rates. You may even be surprised to find that the lowest prices are with some of the lesser-known companies. Regional companies may only write in your state and offer lower rates than the large multi-state companies such as Progressive and GEICO.
When you buy Boston auto insurance online, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed full coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to purchase a proper amount of coverage for the lowest price.
More information is available on the following sites:
- Teen Driving Statistics (iihs.org)
- Who Has the Cheapest Boston Auto Insurance Rates for Drivers Over Age 60? (FAQ)
- What Car Insurance is Cheapest for a Company Car in Boston? (FAQ)
- Avoiding Deer Collisions (Insurance Information Institute)
- Vehicle Insurance in the U.S. (Wikipedia)
- How Much Auto Coverage do I Need? (Insurance Information Institute)