Best BMW 535i Insurance in Minneapolis

If saving money is your primary concern, then the best way to get discount BMW 535i insurance is to start comparing prices yearly from insurers in Minneapolis.

• Step 1: Gain an understanding of coverages and the things you can change to keep rates down. Many rating criteria that result in higher rates such as at-fault accidents and a negative credit rating can be remedied by making minor changes in your lifestyle.
• Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from a single company like Progressive and State Farm, while independent agents can provide prices from multiple companies.
• Step 3: Compare the price quotes to the premium of your current policy to see if you can save by switching companies. If you can save some money and make a switch, make sure there is no lapse in coverage.
• Step 4: Tell your current company of your intention to cancel the current policy and submit the required down payment along with the signed application to the new insurer. Once the paperwork is finalized, keep the new proof of insurance certificate with your registration paperwork.

One key aspect of rate comparisons is that you’ll want to make sure you compare identical coverage information on each price quote and to quote with every company you can. This ensures a level playing field and a complete price analysis.

Unbelievable but true, a large majority of drivers kept their policy with the same company for well over three years, and nearly half have never even compared rates from other companies. Many drivers in Minneapolis could save about $1,039 a year by just comparing quotes, but they mistakenly think it’s difficult to do a rate comparison.

How to shop BMW 535i insurance online

All the larger auto insurance companies such as Allstate and Progressive make it easy to get coverage price quotes online. This process is quite easy because it’s just a matter of typing in your coverage preferences as requested by the quote form. Once you submit the form, the system gets your credit score and driving record and generates a price based on many factors.

Using the web to get quotes for BMW 535i insurance in Minneapolis makes it easy to compare insurance prices and it is important to have as many quotes as possible if you want to get the most affordable premium on auto insurance.

To quickly find out how much you’re overpaying now, compare rates now from the companies shown below. If you currently have coverage, we recommend you type in your coverages just like they are on your policy. This way, you will receive an apples-to-apples comparison for similar coverage.

The companies in the list below are ready to provide quotes in Minneapolis, MN. If multiple companies are listed, it’s highly recommended you click on several of them to get the most competitive price.

Detailed insurance information

The table displayed next showcases estimates of insurance prices for BMW 535i models. Learning how rate quotes are calculated is important for drivers to make informed coverage decisions.

Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Price estimates do not factor in vehicle location which can lower or raise insurance rates substantially.

An analysis of deductible level

One of the more difficult decisions when buying car insurance is where to set your physical damage deductibles. The comparison tables below highlight the rate fluctuation between high and low deductibles. The first price estimate table uses a $250 deductible and the second price table uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Premium amounts do not factor in specific location information which can change premium rates noticeably.

We can estimate from the data above that using a $250 deductible will cost in the ballpark of $33 more each month or $396 annually than opting for the higher $1,000 deductible. Since you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you average at least 23 months between claims, you would more than likely save some money going with the higher deductible.

One important issue to know is that raising deductibles to get cheaper rates means you will have to pay more when you do file a claim. You should have enough extra savings in order to pay the higher deductible.

The information below demonstrates how choosing different deductibles and can change BMW 535i yearly insurance costs for each age group. The price estimates are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.

Drive responsibly or pay higher rates

The chart below demonstrates how traffic citations and accidents impact BMW 535i auto insurance costs for each age group. The information is based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.

Should you buy full coverage?

The example below visualizes the comparison of BMW 535i insurance rates when comparing full coverage to liability only. Data assumes no violations or accidents, $1,000 deductibles, marital status is single, and no policy discounts are applied.

When to drop comp and collision

There is no set rule of when to stop paying for physical damage insurance, but there is a general school of thought. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s assume your BMW 535i settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying your deductible. If it’s costing you more than $500 annually for full coverage, the it may be a good time to stop paying for full coverage.

There are some circumstances where eliminating full coverage is not a good idea. If you still owe a portion of the original loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.

Lower rate quotes with discounts

Insurance can be prohibitively expensive, but there could be significant discounts that you may not even be aware of. Certain discounts will be triggered automatically at quote time, but a few must be specially asked for prior to receiving the credit.

• Save with More Vehicles Insured – Insuring more than one vehicle with one company qualifies for this discount.
• Buy New and Save – Buying a new car model can save up to 30% since newer models are generally safer.
• Theft Deterrent Discount – Vehicles equipped with anti-theft or alarm systems are stolen with less frequency and that can save you a little bit as well.
• Early Signing – A few companies allow discounts for buying a policy prior to your current 535i insurance policy expiration. You can save around 10% with this discount.
• Multi-policy Discount – If you have multiple policies with the same insurance company you could get a discount of up to 20% off your total 535i insurance premium.
• Defensive Driver Discount – Successfully completing a course teaching defensive driving skills could cut 5% off your bill and easily recoup the cost of the course.
• Drive Safe and Save – Accident-free drivers can get discounts for up to 45% lower rates than drivers with accidents.
• Air Bags and Passive Restraints – Vehicles equipped with air bags or automatic seat belts can qualify for discounts of up to 25% or more.

As is typical with insurance, most discount credits are not given to the whole policy. Some only reduce specific coverage prices like comp or med pay. Despite the appearance that you could get a free auto insurance policy, it just doesn’t work that way. Any qualifying discounts will reduce the amount you have to pay.

The example below visualizes the comparison of BMW 535i car insurance costs with and without discounts. The information is based on a female driver, no violations or claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, marriage, claim-free, safe-driver, and multi-policy discounts applied.

Some companies that may offer these money-saving discounts may include but are not limited to:

• American Family
• Farm Bureau
• State Farm
• Travelers
• The Hartford
• GEICO
• Progressive

Before buying, ask all the companies which discounts you qualify for. A few discounts may not be available in Minneapolis. To find companies who offer online BMW 535i insurance quotes in Minnesota, click here to view.

Three good reasons to insure your BMW vehicle

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

• The majority of states have mandatory insurance requirements which means the state requires a minimum amount of liability if you don’t want to risk a ticket. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you took out a loan on your vehicle, almost all lenders will make it mandatory that you have full coverage to protect their interest in the vehicle. If you do not keep the policy in force, the lender may insure your BMW at an extremely high rate and require you to fork over for it.
• Insurance preserves not only your BMW 535i but also your assets. It will also provide coverage for many types of medical costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of buying insurance more than offset the price you pay, especially for larger claims. Unknowingly, the average driver is currently overpaying as much as $820 a year so you should quote your policy with other companies at least once a year to make sure the price is not too high.

When to get professional advice

When it comes to buying the right insurance coverage, there really is no “best” method to buy coverage. Each situation is unique and your policy should reflect that.
For instance, these questions may help highlight if your insurance needs might need professional guidance.

• Is my BMW 535i covered if I use it for business?
• Is a fancy paint job covered?
• Am I covered when driving someone else’s vehicle?
• Is my custom stereo system covered?
• I have health insurance so do I need medical payments coverage?
• Does rental coverage apply when I am renting a car?
• What companies insure drivers after a DUI or DWI?
• Am I covered when driving in Canada or Mexico?

If you’re not sure about those questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area. It’s fast, doesn’t cost anything and can help protect your family.

Insurance agents near you

A small number of people just want to sit down and talk to an agent and that can be a smart move Professional insurance agents can answer important questions and will help you if you have claims. The best thing about getting online price quotes is you may find lower car insurance rates and still have an agent to talk to.

After filling out this form (opens in new window), your coverage information is instantly submitted to local insurance agents in Minneapolis who can give free rate quotes for your auto insurance coverage. You never need to contact an agency because quoted prices will be sent instantly to you. If you need to quote rates from a specific company, you would need to find their quoting web page and give them your coverage information.

Finding the right insurer needs to be determined by more than just the price. Here are some questions you should ask.

• Do they prorate repair cost based on vehicle mileage?
• Is the quote a firm price?
• Where would your vehicle be repaired?
• In the event of vehicle damage, can you pick the collision repair facility?
• If they are an independent agency in Minneapolis, which companies do they recommend?
• What kind of financial rating does the company have?

Choose the right car insurance agent

When narrowing the list to find a good insurance agency, it can be helpful to understand the different types of agents and how they differ in how they can insure your vehicles. Auto insurance agencies can be categorized as either independent or exclusive depending on the company they work for. Either type can write policy coverage, but it is a good idea to know how they differ because it can factor into the kind of agent you use.

Exclusive Auto Insurance Agencies

Agents that choose to be exclusive can only provide pricing for a single company and some examples include State Farm or Allstate. Exclusive agencies are unable to give you multiple price quotes so they really need to provide good service. These agents are trained well on their products and sales techniques which can be an advantage. Consumers frequently use the same agent partially due to the prominent brand name and solid financial strength.

Listed below are Minneapolis exclusive agencies who can help you get rate quotes.

• Jerry Vang – State Farm Insurance Agent
  701 4th Ave S #220 – Minneapolis, MN 55415 – (612) 338-6400 – View Map
• Allstate Insurance: Charles Fritz
  2213 Johnson St NE – Minneapolis, MN 55418 – (612) 788-6279 – View Map
• Allstate Insurance: Lois A. Castaneda
  127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 – View Map

View more agents

Independent Agents

Independent agents are not required to write business for one company and that is an advantage because they can write policies with many different companies and find the cheapest rate. If they quote lower rates, they simply move the coverage in-house and that require little work on your part.

When comparison shopping, you will definitely want to get several quotes from a few independent agents to get the most accurate price comparison. Many can place coverage with companies you’ve never heard of that can offer cheaper rates than bigger companies.

Below are Minneapolis independent agencies that are able to give price quote information.

• Abbco Insurance Agency Co.
  6227 University Ave NE – Minneapolis, MN 55632 – (763) 571-2880 – View Map
• Semlak Miernicki Insurance Agency
  2657 Dupont Ave S – Minneapolis, MN 55408 – (612) 208-0873 – View Map
• RJF Agencies, Inc.
  7225 Northland Dr N #300 – Minneapolis, MN 55428 – (763) 746-8000 – View Map

View more agents