Having to pay for pricey auto insurance in El Paso can dry up your funds and force you to cut corners elsewhere. Doing a price comparison can help to tighten up your finances.
It’s an obvious statement that auto insurance companies don’t want you shop around. People who shop around once a year will probably switch auto insurance companies because there are good odds of finding more affordable rates. A survey found that drivers who did price comparisons regularly saved over $70 a month compared to people who never shopped for cheaper rates.
If finding the most affordable BMW 535i insurance in El Paso is the reason for your visit, then understanding the best way to quote and compare car insurance can save time, money, and frustration.
How to buy low-cost BMW 535i insurance in El Paso
If you want to save money, the best way to get more affordable auto insurance rates in El Paso is to regularly compare price quotes from companies who provide auto insurance in Texas.
- Try to understand auto insurance and the changes you can make to prevent high rates. Many things that cause high rates like multiple speeding tickets and a poor credit rating can be rectified by making minor changes in your lifestyle. Continue reading for ideas to get lower rates and get discounts that may be available to you.
- Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO and Allstate, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the new rates to the premium of your current policy and see if there is a cheaper rate in El Paso. If you can save some money and switch companies, verify that coverage does not lapse between policies.
- Provide notification to your current company of your decision to cancel your existing policy and submit payment and a signed application for your new coverage. Once the application is submitted, put the new certificate verifying proof of insurance in your glove compartment.
A good tip to remember is that you’ll want to make sure you compare the same amount of coverage on each quote and to quote with every company you can. Doing this guarantees an accurate price comparison and maximum price selection.
Due to the fact that there are so many companies and agents to choose from, it’s nearly impossible to pick the best auto insurance provider.
You should make it a habit to compare prices periodically since insurance prices change quite often. Despite the fact that you may have had the best deal on BMW 535i insurance in El Paso two years ago other companies may now be cheaper. You can find a lot of wrong information about 535i insurance online but I’m going to show you a lot of great tips on how to lower your auto insurance bill.
Locating the best rates in El Paso is much easier if you have a good place to start. If you currently have car insurance, you will most likely be able to find better prices using this strategy. You just need to understand the least time-consuming way to compare price quotes instantly.
Insurance statistics and figures
The price information displayed next outlines a range of policy rates for BMW 535i models. Being aware of how auto insurance policy rates are calculated can help drivers make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $504 | $1118 | $514 | $30 | $154 | $2,320 | $193 |
| 535I xDrive Station Wagon | $504 | $1118 | $514 | $30 | $154 | $2,320 | $193 |
| 535I GT 4-Dr Sedan | $504 | $1118 | $514 | $30 | $154 | $2,320 | $193 |
| 535I xDrive 4-Dr Sedan | $552 | $1118 | $514 | $30 | $154 | $2,368 | $197 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Rates do not factor in specific garaging location which can impact premiums greatly.
Policy deductibles
One common question asked by El Paso drivers is which deductible level should you buy. The comparison tables below approximate the differences in price when you choose different physical damage deductibles. The first price estimate table uses a $100 comprehensive and collision deductible and the second pricing table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I xDrive Station Wagon | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I GT 4-Dr Sedan | $454 | $908 | $382 | $22 | $114 | $1,905 | $159 |
| 535I xDrive 4-Dr Sedan | $496 | $908 | $382 | $22 | $114 | $1,947 | $162 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I xDrive Station Wagon | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I GT 4-Dr Sedan | $332 | $614 | $382 | $22 | $114 | $1,464 | $122 |
| 535I xDrive 4-Dr Sedan | $362 | $614 | $382 | $22 | $114 | $1,494 | $125 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Premium costs do not factor in specific location information which can revise prices greatly.
Based on this data, we can arrive at the conclusion that using a $100 deductible could cost the average driver approximately $37 more each month or $444 annually averaged for all 535i models than buying the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you usually have at least 11 months between claim filings, you would most likely save money by going with a higher deductible.
The illustration below demonstrates how deductible levels and can affect BMW 535i insurance rates for each different age group. The price estimates are based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
Accidents and violations increase rates
The chart below illustrates how violations and at-fault fender-benders can raise BMW 535i premium costs for different categories of driver ages. The premium estimates are based on a married male driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
Decisions You Make Can Impact Your Insurance Prices
One of the most helpful ways to save on auto insurance is to to have a grasp of some of the things that go into determining your policy premiums. If you have a feel for what controls the rates you pay, this allows you to make educated decisions that could help you find cheaper rates. Lots of things are part of the equation when premium rates are determined. Some are obvious like a motor vehicle report, but some are more obscure such as whether you are married or how safe your car is.
Shown below are some of the most common factors companies use to determine your prices.
- Safer the car lower the rate – Vehicles that have high safety ratings cost less to insure. Safe vehicles protect occupants better and lower rates of occupant injuries means less claims paid passed on to you as lower rates. If your BMW 535i scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
- Frequent claims will cost you – Auto insurance companies in Texas award most affordable rates to policyholders that do not abuse their auto insurance. If you file claims often, you can expect higher premiums or even policy non-renewal. Auto insurance is designed for claims that pose a financial burden.
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Youthful drivers cost more – Teen drivers in Texas are statistically proven to be inattentive and easily distracted behind the wheel so they pay higher auto insurance rates. If you’ve ever had to add a young driver to your policy can increase premiums substantially. Older people are more cautious drivers, are lower risk to insure, and receive fewer citations.
The following data is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Married drivers get cheaper costs – Having a wife or husband may earn you lower rates on your auto insurance policy. Having a spouse may mean you are less irresponsible and statistics prove married couples file fewer claims.
- Buy as much liability coverage as you can afford – Your auto insurance policy’s liability coverage kicks in if ever you are determined to be liable for causing damage or personal injury in an accident. This coverage provides you with a defense in court starting from day one. Liability insurance is quite affordable compared to insuring for physical damage coverage, so insureds should have plenty of protection for their assets.
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Does car insurance cost less for gals? – The statistics show that females tend to be a little less risky than males. Now that doesn’t mean males are worse at driving than females. Both genders tend to get into accidents at about the same rate, but males have accidents that have higher claims. Men also tend to get higher numbers of serious violations such as reckless driving. Teenage male drivers tend to get in the most accidents so they pay the highest premiums.
The chart below shows the comparison of BMW 535i annual premium costs for male and female drivers. The data is based on no claims, a clean driving record, comp and collision included, $500 deductibles, drivers are not married, and no other discounts are factored in.
- Credit score impacts premium prices – Having a bad credit score is a big factor in calculating your premium rate. Drivers with good credit tend to file fewer claims than those with lower ratings. If your credit history could use some work, you could save money insuring your BMW 535i by improving your rating.
Quote often and quote early
We’ve covered a lot of tips how to compare BMW 535i insurance rates in El Paso. The most important thing to understand is the more rate quotes you have, the higher your chance of finding cheaper El Paso car insurance quotes. You may even discover the most savings is with some of the lesser-known companies. These companies often have lower auto insurance rates on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
Budget-friendly car insurance in El Paso is possible online and with local El Paso insurance agents, and you should compare rates from both to have the best selection. Some car insurance companies may not provide online rate quotes and these smaller companies provide coverage only through local independent agents.
When getting El Paso car insurance quotes online, make sure you don’t sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits only to regret that the few dollars in savings costed them thousands. The aim is to get the best coverage possible at the best possible price, but don’t skip important coverages to save money.
How to buy lower priced BMW 535i insurance in El Paso
The best way to find the cheapest price for car insurance rates in El Paso is to start comparing prices yearly from insurance carriers that sell auto insurance in Texas. You can shop around by completing these steps.
First, get an understanding of individual coverages and the modifications you can make to prevent rate increases. Many policy risk factors that result in higher rates such as your driving record and an unacceptable credit history can be amended by paying attention to minor details.
Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like Progressive or State Farm, while independent agents can provide prices for many different companies. Compare rates now
Third, compare the quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, provide notification to your current company to cancel your current car insurance policy and submit payment and a signed application to your new carrier. As soon as coverage is bound, safely store the certificate verifying proof of insurance in your glove compartment.
The key thing to remember is to make sure you’re comparing the same coverage limits and deductibles on every quote request and and to analyze as many companies as you can. This helps ensure a level playing field and plenty of rates choose from.
More information can be found below:
- Insurance Losses by Make and Model (iihs.org)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- Shopping for a Safe Car (Insurance Information Institute)