It’s a fact that auto insurance companies don’t want you quoting rates from other companies. Insureds who shop around at least once a year are inclined to buy a new policy because there is a good chance of finding better rates. A study showed that consumers who make a habit of shopping around saved $865 a year compared to people who never shopped for cheaper rates.
If finding budget-friendly BMW 535i insurance is your ultimate objective, learning how to shop for insurance premiums can help you succeed in finding affordable rates.
The easiest way to save money on BMW 535i insurance in Baltimore is to do an annual price comparison from providers who sell insurance in Maryland.
- First, get an understanding of how your policy works and the changes you can make to keep rates low. Many rating criteria that result in higher rates like high-risk driving behaviors and bad credit can be improved by making minor changes to your lifestyle. This article gives tips to lower rates and get additional discounts.
- Second, compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and Allstate, while independent agents can provide prices for a wide range of insurance providers.
- Third, compare the price quotes to your current policy to see if a cheaper price is available. If you find a lower rate quote, make sure coverage is continuous and does not lapse.
A tip to remember is that you use the same amount of coverage on each price quote and and to get rates from as many companies as feasibly possible. This helps ensure an apples-to-apples comparison and plenty of rates choose from.
When shopping for affordable BMW 535i insurance quotes, there are a couple of ways to compare quotes from local Baltimore car insurance companies. The simplest method to find competitive insurance rates is to get quotes online.
When quoting car insurance, remember that getting more free quotes helps improve the odds of finding lower pricing. Some regional insurers cannot provide price estimates online, so you also need to get quotes from them as well.
The providers in the list below offer comparison quotes in Maryland. If multiple companies are listed, we suggest you compare several of them to find the lowest auto insurance rates.
BMW 535i detailed coverage information
The premium information shown next outlines a range of insurance coverage prices for BMW 535i models. Having insight into how policy premiums are formulated can help you make smart choices when buying a car insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|535I 4-Dr Sedan||$496||$812||$532||$32||$160||$2,032||$169|
|535I xDrive Station Wagon||$496||$812||$532||$32||$160||$2,032||$169|
|535I GT 4-Dr Sedan||$496||$812||$532||$32||$160||$2,032||$169|
|535I xDrive 4-Dr Sedan||$542||$812||$532||$32||$160||$2,078||$173|
|Get Your Own Custom Quote Go|
Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Table data does not factor in garaging location in Baltimore which can influence prices significantly.
The diagram below highlights how deductible selection and can affect BMW 535i premium costs for different insured age categories. The rates are based on a married male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Car insurance rates by gender and age
The diagram below compares BMW 535i insurance rates for male and female drivers. The information is based on no violations or claims, comp and collision included, $500 deductibles, drivers are single, and no policy discounts are applied.
Cost of full coverage in Baltimore
The example below shows the comparison of BMW 535i car insurance rates when comparing full coverage to liability only. The prices are based on no claims or driving citations, $250 deductibles, drivers are single, and no other discounts are factored in.
Should you pay for full coverage?
There isn’t a steadfast formula to stop buying comp and collision coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s assume your BMW 535i replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after paying your deductible. If you are paying more than $800 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are some conditions where eliminating full coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not remove full coverage.
Auto insurance discounts help lower rates for BMW 535i insurance in Baltimore
Buying auto insurance is not cheap, but there could be available discounts that can drop the cost substantially. Most are applied at the time of purchase, but once in a while a discount must be inquired about prior to receiving the credit. If you aren’t receiving every discount possible, you’re paying more than you need to.
- Drive Safe and Save – Drivers without accidents can save as much as half off their rates than drivers with accident claims.
- Senior Citizen Rates – If you’re over the age of 55, you may be able to get lower premium rates.
- Good Students Pay Less – Performing well in school can earn a discount of 20% or more. You can use this discount normally until age 25.
- Anti-theft Discount – Cars equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more on 535i insurance in Baltimore.
- Seat Belts Save – Drivers who require all vehicle occupants to fasten their seat belts could save 15% on medical payment and PIP coverage.
- No Claim Discounts – Insureds who avoid accidents and claims can earn big discounts compared to accident-prone drivers.
- Driving Data Discount – Policyholders that allow their auto insurance company to monitor vehicle usage by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction as long as the data is positive.
- Discounts for Government Workers – Federal government employees could qualify for a slight premium decrease with some auto insurance companies.
- Passenger Safety Discount – Options like air bags and/or automatic seat belt systems may get savings of 20 to 30 percent.
- Discount for Multiple Policies – If you combine your auto and home policies with the same company you may save at least 10 to 15 percent or more.
Drivers should understand that many deductions do not apply to the overall cost of the policy. Most cut specific coverage prices like medical payments or collision. Even though the math looks like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
The example below shows the difference between BMW 535i insurance costs with and without some available policy discounts. The prices are based on a female driver, no driving violations, no at-fault accidents, Maryland state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-car, homeowner, marriage, and multi-policy discounts applied.
If you would like to see a list of companies that provide some of the discounts listed above in Baltimore, click here.
Buying the right BMW vehicle insurance in Maryland is an important decision
Even though it’s not necessarily cheap to insure a BMW in Baltimore, buying auto insurance is required for several reasons.
- Almost all states have minimum liability requirements which means you are required to buy a specific level of liability protection in order to be legal. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a loan on your 535i, almost all lenders will have a requirement that you have physical damage coverage to ensure they get paid if you total the vehicle. If the policy lapses, the lender will be forced to insure your BMW for a much higher rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards both your BMW and your assets. It will also reimburse you for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of insuring your car definitely exceed the price paid, especially for larger claims. As of last year, the average driver in Maryland is overpaying over $810 a year so shop around every year to ensure rates are inline.
Best car insurance company in Maryland
Choosing a high-quality car insurance provider can be a challenge considering how many choices you have in Maryland. The ranking information displayed below could help you choose which auto insurance companies to look at purchasing a policy from.
Top 10 Baltimore Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Will just any policy work for me?
When quoting and comparing the best insurance coverage, there really is no perfect coverage plan. Everyone’s situation is unique.
For instance, these questions can aid in determining if your insurance needs would benefit from an agent’s advice.
- Am I getting all the discounts available?
- Why do I only qualify for high-risk insurance?
- Does my insurance cover my expensive audio equipment?
- Who is covered when they drive my BMW 535i?
- Can I afford to buy a different vehicle if my BMW 535i is totaled?
- Why do I need rental car insurance?
- What happens if I owe more than my BMW 535i is worth?
- Is my state a no-fault state?
- Does my BMW 535i need full coverage?
- What policy terms are available?
If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, simply complete this short form.
You may need advice from an insurance agency
Some consumers still prefer to sit down with an agent and that is OK! An additional benefit of comparing rate quotes online is you may find cheap rate quotes and still buy from a local agent.
By using this form (opens in new window), your insurance coverage information is transmitted to companies in Baltimore that provide free Baltimore car insurance quotes and help you find cheaper coverage. It’s much easier because you don’t need to find an agent on your own because prices are sent to you directly. It’s the lowest rates and an insurance agent to talk to. If for some reason you want to get a comparison quote for a specific company, feel free to jump over to their website and fill out their quote form.
Finding the right insurer requires more thought than just a cheap quote. Before buying a policy in Baltimore, get answers to these questions.
- Will you work with the agent or an assistant?
- Is the coverage adequate for your vehicle?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Will you get a loaner vehicle if you car is being repaired?
- Does the company use OEM repair parts?
- Are claim adjusters local or do you have to take your car somewhere else?
- What are their preferred companies if they are an independent agency?
The type of auto insurance agent you choose is important
When finding a good insurance agency, you need to know there are two different types of agencies and how they function. Car insurance agencies may be either exclusive or independent (non-exclusive).
Exclusive Car Insurance Agencies
Agents that elect to be exclusive can only place business with one company and examples are AAA, Allstate, and State Farm. Exclusive agents cannot give you multiple price quotes so keep that in mind. Exclusive insurance agents are very knowledgeable on their company’s products and that enables them to sell even at higher rates. Many people buy from the same agent for years mainly due to loyalty to the company and solid financial strength.
Listed below is a short list of exclusive insurance agents in Baltimore who may provide you with comparison quotes.
- David Rosario – State Farm Insurance Agent
3121 Eastern Ave – Baltimore, MD 21224 – (410) 850-4949 – View Map
- Allstate Insurance: Shanda Hayden
7200 Eastern Ave a – Baltimore, MD 21224 – (410) 282-7863 – View Map
- Mindy Andreychek – State Farm Insurance Agent
8502 Harford Rd Ste B – Baltimore, MD 21234 – (410) 668-7600 – View Map
These type of agents do not write with just one company so they can insure your vehicles through many companies enabling the ability to shop coverage around. If premiums increase, they can switch companies in-house which is easy for the insured. When comparing rates, you definitely need to get insurance quotes from a couple of independent agencies to have the most options to choose from. Most can insure with mutual insurance companies that many times have cheaper rates.
The following are Baltimore independent agencies that can give you rate quotes.
- Nationwide Insurance: Rodgers Insurance Agency Inc
6800 Holabird Ave a – Baltimore, MD 21222 – (410) 282-1379 – View Map
- Ugele Insurance
408 E 25th St – Baltimore, MD 21218 – (410) 366-6566 – View Map
- Hill Point Insurance LLC
1400 S Charles St – Baltimore, MD 21230 – (410) 779-9272 – View Map
After receiving acceptable answers and locked in a price quote, you may have found an insurance agent that will adequately provide car insurance. Just understand that policyholders can cancel a policy whenever you choose to so never feel that you’re stuck with any specific agency for a certain time period.