Compare BMW 535i Insurance Rates in Tampa

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.

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.

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
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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.

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 AveTampa, FL 33612(813) 933-6691View Map

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

4311 W El Prado BlvdTampa, FL 33629(813) 831-8889View 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 aTampa, FL 33629(813) 258-2828View Map

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

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

More Tampa agents

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

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.

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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