Compare BMW 535i Insurance Rates in Tampa

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Insurance rates BMW 535i in TampaA recent survey discovered that about 70% of customers have remained with the same auto insurance company for four years or more, and practically 40% of auto insurance customers have never taken the time to shop around. American drivers could cut their rates by as much as 47% a year by just shopping around, but they don't believe how much they could save if they switched.

If you want to save the most money, the best way to find cheaper quotes for BMW 535i insurance in Tampa is to compare quotes once a year from providers in Florida.

First, get a basic knowledge of how insurance works and the modifications you can make to prevent expensive coverage. Many things that result in higher prices such as traffic citations and an unacceptable credit history can be amended by being financially responsible and driving safely.

Second, quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from a single company like Progressive and State Farm, while independent agents can provide price quotes from multiple sources. Begin your rate comparison

Third, compare the new quotes to your current policy to see if switching to a new carrier will save money. If you can save some money and buy the policy, make sure coverage does not lapse between policies.

Fourth, give proper notification to your current agent or company of your decision to cancel the current policy and submit payment and a completed application to the new insurer. Immediately upon receiving it, store the certificate of insurance with your registration paperwork.

One thing to remember is to try to use identical coverage information on every quote request and and to analyze as many different companies as possible. Doing this guarantees an apples-to-apples comparison and many rates to choose from.

Cheaper rates by earning discounts

Some insurers don't always publicize all their discounts in a way that's easy to find, so the next list breaks down some of the best known and the more hidden auto insurance savings.

  • Air Bag Discount - Vehicles with factory air bags and/or automatic seat belt systems could see savings of up to 25% or more.
  • Lower Rates for Military - Being on active deployment in the military may lower your rates slightly.
  • Pay Early and Save - By paying your policy upfront rather than paying monthly you can avoid the installment charge.
  • 55 and Retired - Older drivers are able to get reduced rates.
  • Organization Discounts - Being in a qualifying organization can get you a small discount when shopping for auto insurance.
  • Seat Belts Save more than Lives - Drivers who always wear seat belts and also require passengers to buckle up can save 10% or more on the premium charged for medical payments and/or PIP.

Keep in mind that some credits don't apply to all coverage premiums. Some only reduce specific coverage prices like comp or med pay. If you do the math and it seems like it's possible to get free car insurance, that's just not realistic.

The diagram below shows the difference between BMW 535i premium costs with and without discounts applied to the rates. The costs are based on a male driver, a clean driving record, no at-fault accidents, Florida state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, safe-driver, multi-policy, and marriage discounts applied.

Companies and their offered discounts can be read below.

  • 21st Century may have discounts that include homeowners, automatic seat belts, air bags, student driver, and theft prevention.
  • State Farm discounts include safe vehicle, student away at school, accident-free, Steer Clear safe driver discount, and driver's education.
  • AAA has discounts for multi-car, AAA membership discount, multi-policy, good student, pay-in-full, and good driver.
  • Liberty Mutual may offer discounts for new move discount, newly retired, safety features, exclusive group savings, and new graduate.
  • Progressive may include discounts for online signing, good student, continuous coverage, multi-vehicle, and online quote discount.

If you are trying to find cheaper Tampa car insurance quotes, ask every company the best way to save money. A few discounts may not be available in Tampa. To view companies that offer many of these discounts in Florida, click here.

The cheapest Tampa BMW 535i insurance price quotes

There are several ways of comparing price quotes from many different Florida insurance companies. The fastest way to do a complete rate comparison is to use the internet to compare rates.

Online shopping is fast and free, and it replaces the need to drive around to local Tampa insurance agencies. Quoting and buying BMW 535i insurance online eliminates this option unless you're the type of person who wants the professional guidance only provided by licensed Tampa agents. If you prefer, some companies allow you to compare online quotes but purchase the actual policy in an agency. When quoting auto insurance, remember that making a lot of price comparisons increases the chance that you will find the best offered rates.

The companies shown below have been selected to offer quotes in Tampa, FL. If you wish to find cheaper car insurance in FL, we recommend you compare several of them in order to find the lowest rates.

Insurance statistics for a BMW 535i

The information displayed below outlines different insurance costs for BMW 535i models. Having insight into how auto insurance premiums are formulated can benefit drivers when making smart choices when purchasing an auto insurance policy.

BMW 535i Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $438 $958 $504 $30 $152 $2,082 $174
535I xDrive Station Wagon $438 $958 $504 $30 $152 $2,082 $174
535I GT 4-Dr Sedan $438 $958 $504 $30 $152 $2,082 $174
535I xDrive 4-Dr Sedan $478 $958 $504 $30 $152 $2,122 $177
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Cost estimates assume single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Premium amounts do not factor in specific garaging location which can decrease or increase price quotes substantially.

Policy deductible comparison

When buying insurance, a common question is how high should the deductibles for physical damage be. The comparisons below may aid in understanding the premium difference when you select higher and lower insurance deductibles. The first set of rates uses a $250 deductible for comprehensive and collision coverage and the second price grid uses a $1,000 deductible.

BMW 535i insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $446 $834 $418 $24 $124 $1,871 $156
535I xDrive Station Wagon $446 $834 $418 $24 $124 $1,871 $156
535I GT 4-Dr Sedan $446 $834 $418 $24 $124 $1,871 $156
535I xDrive 4-Dr Sedan $488 $834 $418 $24 $124 $1,913 $159
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BMW 535i insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $276 $524 $418 $24 $124 $1,366 $114
535I xDrive Station Wagon $276 $524 $418 $24 $124 $1,366 $114
535I GT 4-Dr Sedan $276 $524 $418 $24 $124 $1,366 $114
535I xDrive 4-Dr Sedan $302 $524 $418 $24 $124 $1,392 $116
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle location which can lower or raise insurance rates noticeably.

Based on this data, using a $250 deductible costs about $42 more each month or $504 a year than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 18 months between claims, you would more than likely save some money if you choose the higher deductible.

The example below highlights how deductible choice and can affect BMW 535i insurance prices for different categories of driver ages. The information is based on a married female driver, full coverage, and no policy discounts are applied.

Bad driving habits will cost you more

The example below highlights how traffic violations and fender-benders can raise BMW 535i insurance prices for each different age category. Data assumes a single female driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.

Rate difference between full and liability-only coverage

The information below shows the comparison of BMW 535i yearly insurance costs when comparing full coverage to liability only. The prices are based on no violations or claims, $100 deductibles, marital status is single, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no definitive formula of when to phase out comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let's say your BMW 535i settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after the deductible is paid. If premiums are more than $200 a year for your policy with full coverage, then you may need to consider dropping full coverage.

There are some cases where dropping full coverage is not a good plan. If you still owe money on your vehicle, you have to carry full coverage in order to keep the loan. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.

Smart Consumers Can Slash Their Insurance Prices

Many different elements are part of the calculation when you quote your car insurance policy. Some are pretty understandable like an MVR report, but some are not quite as obvious like your vehicle usage or how financially stable you are. When buying insurance it's important to understand some of the elements that aid in calculating your insurance rates. When consumers understand what controls the rates you pay, this empowers consumers to make smart changes that may result in better insurance rates.

  • Battle of the sexes - Statistics show that women are safer drivers than men. However, don't assume that women are BETTER drivers than men. Women and men are in auto accidents at a similar rate, but the males have costlier accidents. Not only that, but men also have more aggressive citations like DUI and reckless driving. Males from age 16 to 21 tend to get in the most accidents and therefore are the most expensive to insure.

    The information below illustrates the comparison of BMW 535i insurance premiums for male and female drivers. The costs are based on a clean driving record, no claims, full coverage, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

  • High performance equals high prices - The performance level of the vehicle you are insuring makes a significant difference in your premium level. Economy passenger cars usually are quite affordable to insure, but there are many factors that impact the final cost.

    The chart below uses these assumptions: single female driver age 40, full coverage with $250 deductibles, and no discounts or violations. The data compares BMW 535i insurance premiums compared to other makes and models that have a range of performances.

  • Stress out and pay more - Did you know that where you work can have an impact on rates? Jobs such as real estate brokers, architects, and medical professionals tend to have higher premiums than the average policyholder due to high stress levels and extremely grueling work hours. On the other hand, occupations such as farmers, athletes and homemakers have the lowest average rates.
  • Insure your auto and home with one company - The majority of insurers afford a discount for people who consolidate policies with them, otherwise known as a multi-policy discount. This can amount to 10 percent or more. Even though this discount sounds good, it's in your best interest to check prices from other companies to ensure the best deal.
  • A policy lapse can increase prices - Driving your car without having proper coverage is a misdemeanor and as a result your rates will increase for letting your insurance expire. Not only will rates go up, being ticketed for driving with no insurance could result in a revoked license or a big fine. You may need to submit proof of financial responsibility or a SR-22 with the Florida motor vehicle department to get your license reinstated.
  • Theft deterrents lowers prices - Selecting a car model with an alarm system can help lower your rates. Anti-theft features such as GM's OnStar, tamper alarm systems and vehicle immobilizers can help prevent your vehicle from being stolen.

When to contact a local insurance agent

Many people would prefer to buy from a licensed agent and that is a personal choice. One of the best bonuses of getting online price quotes is that you can obtain lower rates and also buy local. Putting coverage with neighborhood insurance agencies is important particularly in Tampa.

Once you complete this quick form, your insurance coverage information is emailed to participating agents in Tampa who will gladly provide quotes to get your business. There is no need to contact any agents because quoted prices will be sent to the email address you provide. You can find lower rates and an insurance agent to talk to. If you wish to quote rates from a specific insurance company, you just need to search and find their rate quote page and submit a quote form there.

Insurance agent types

If you're trying to find a local Tampa insurance agency, it's important to understand the different types of agencies and how they operate. Car insurance agents in Tampa may be either exclusive or independent (non-exclusive).

Independent Agents

Independent insurance agents do not sell for just one brand and that gives them the ability to insure through many different car insurance companies and help determine which has the cheapest rates. If your premiums go up, your policy is moved internally which makes it simple for you. When comparing car insurance prices, we recommend you compare quotes from multiple independent agents in order to have the best price comparison.

Shown below is a small list of independent insurance agencies in Tampa who can help you get free rate quotes.

315 W Fletcher Ave - Tampa, FL 33612 - (813) 933-6691 - View Map

3105 W Waters Ave #313 - Tampa, FL 33614 - (813) 510-5366 - View Map

4311 W El Prado Blvd - Tampa, FL 33629 - (813) 831-8889 - View Map

More Tampa agents

Exclusive Insurance Agents

These agents can only write with one company such as State Farm, Allstate, or Farmers Insurance. Exclusive agents are unable to provide other company's prices so it's a take it or leave it situation. Exclusive agents receive a lot of sales training on their company's products and that enables them to sell even at higher rates.

The following are exclusive agencies in Tampa willing to provide price quotes.

2425 S Dale Mabry Hwy a - Tampa, FL 33629 - (813) 258-2828 - View Map

3704 W Swann Ave - Tampa, FL 33609 - (813) 289-7888 - View Map

American Family Agencies
8501 N Florida Ave - Tampa, FL 33604 - (813) 930-0400 - View Map

More Tampa agents

Choosing the best insurance agent shouldn't rely on just a cheap price quote. Here are some questions to ask:

  • Does their agency support local causes in Tampa?
  • Can they provide you with a list of referrals?
  • What insurance companies do they recommend if they are an independent agent?
  • Is the agent and/or agency licensed to do business in Florida?
  • How experienced are they in personal risk management?

Protect more than your BMW vehicle

Even though it can be expensive, buying insurance is most likely required but also gives you several important benefits.

  • Just about all states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage if you don't want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If your BMW has a loan, it's most likely the lender will have a requirement that you carry insurance to guarantee payment of the loan. If you let the policy lapse, the lender may insure your BMW at a much higher premium rate and force you to pay much more than you were paying before.
  • Insurance safeguards not only your BMW 535i but also your assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, also covers legal expenses if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your 535i definitely exceed the price paid, specifically if you ever have a liability claim. On average, a vehicle owner in Tampa overpays more than $850 per year so compare rates once a year at a minimum to make sure the price is not too high.

Shop around and save

We just covered many ideas to save on BMW 535i insurance in Tampa. The most important thing to understand is the more companies you get prices for, the higher your chance of finding inexpensive Tampa car insurance quotes. You may even discover the lowest premium rates are with a smaller regional carrier. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like State Farm and Allstate.

When shopping online for auto insurance, never buy less coverage just to save a little money. There have been many cases where someone sacrificed physical damage coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to find the BEST coverage at an affordable rate.

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