Do you want more affordable BMW 535i insurance in Laredo? High-priced BMW 535i insurance in Laredo can bleed your accounts and make it tough to pay other bills. Comparing cost estimates can help to lower your bills every month.
We don’t have to tell you that insurance companies don’t want policyholders to compare prices from other companies. Consumers who shop around for cheaper price quotes will most likely switch auto insurance companies because there is a good probability of finding coverage at a cheaper rate. Remarkably, a study showed that drivers who compared prices regularly saved approximately $70 a month compared to policyholders who didn’t regularly shop around.
If finding the cheapest rates on car insurance in Laredo is your ultimate target, then knowing the best ways to shop for insurance rates can make it easier to find better rates.
Numerous insurance companies battle to insure your vehicles, and because of this it can be hard to compare auto insurance companies and get the definite lowest rate possible on BMW 535i insurance in Laredo.
It’s a great practice to price shop coverage at least once a year since prices are rarely the same from one policy term to another. Even if you got the best deal on BMW 535i insurance in Laredo on your last policy other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because you’re about to find out the proper way to buy cheaper BMW 535i insurance in Laredo.
If you have coverage now, you will definitely be able to shop for the lowest rates using the tips covered below. Locating the most cost-effective car insurance policy in Laredo is really quite easy. Nevertheless, Texas consumers must know the methods companies use to market on the web and use this information to your advantage.
Best companies for low-cost BMW 535i insurance in Texas
The car insurance companies shown below offer quotes in Laredo, TX. To buy cheap car insurance in Laredo, we recommend you click on several of them to get the most affordable price.
Insurance rate breakdown
The rate table shown next covers a range of insurance costs for BMW 535i models. Learning as much as possible about how insurance prices are formulated is important for making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $466 | $762 | $500 | $30 | $150 | $1,908 | $159 |
| 535I xDrive Station Wagon | $466 | $762 | $500 | $30 | $150 | $1,908 | $159 |
| 535I GT 4-Dr Sedan | $466 | $762 | $500 | $30 | $150 | $1,908 | $159 |
| 535I xDrive 4-Dr Sedan | $508 | $762 | $500 | $30 | $150 | $1,950 | $163 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Price information does not factor in specific location which can decrease or increase price quotes greatly.
Rate comparison for different deductibles
When shopping for car insurance, a common question is the level to set your comp and collision deductibles. The figures shown below summarize the premium difference between low and high deductibles. The first rate quote example uses a $100 deductible for comp and collision and the second price grid uses a $1,000 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 | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I xDrive Station Wagon | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I GT 4-Dr Sedan | $252 | $478 | $382 | $22 | $114 | $1,248 | $104 |
| 535I xDrive 4-Dr Sedan | $276 | $478 | $382 | $22 | $114 | $1,272 | $106 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Prices do not factor in your specific Laredo location which can decrease or increase coverage rates significantly.
Based on this data, using a $100 deductible costs an average of $55 more each month or $660 for a full year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 16 months between claim filings, you would probably come out ahead if you decide on a higher deductible. The illustration below shows how you can perform this determination yourself.
| Average monthly premium for $100 deductibles: | $160 |
| Average monthly premium for $1,000 deductibles (subtract): | – $105 |
| Monthly savings from raising deductible: | $55 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $55 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 16 months |
One important issue to know is that higher deductibles means you will have to cover more of the damage yourself when you file a claim. That will force you to have some available funds in order to pay the deductible for vehicle repair.
The example below highlights how deductible selection and can affect BMW 535i premium costs for each different age group. The rate quotes are based on a single female driver, full physical damage coverage, and no other discounts are factored in.
Accidents and violations increase rates
The example below demonstrates how speeding tickets and accidents can increase BMW 535i auto insurance rates for each different age group. The premiums assume a married male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
BMW 535i insurance rates by gender
The diagram below illustrates the comparison of BMW 535i insurance prices for male and female drivers. The information is based on no accidents or driving violations, full coverage, $100 deductibles, single marital status, and no discounts are factored in.
Difference between liability only and full coverage rates
The diagram below compares BMW 535i auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no claims or driving citations, $100 deductibles, single marital status, and no additional discounts are factored in.
When to stop buying physical damage coverage
There is no exact rule of when to drop full coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s say your BMW 535i claim settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after the policy deductible has been paid. If you are paying in excess of $800 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
There are a few situations where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should maintain full coverage.
Save a ton on BMW 535i insurance in Laredo with these discounts
Car insurance can cost a lot, but you may qualify for discounts that many consumers don’t even know exist. Certain discounts will be applied at quote time, but some must be asked for prior to receiving the credit.
- Discount for Multiple Policies – If you insure your home and vehicles and place coverage with the same company you could get a discount of nearly 15% which can help you find affordable BMW 535i insurance rates in Laredo.
- Distant Student – Youth drivers who attend college more than 100 miles from Laredo and won’t have access to an insured vehicle may be insured at a cheaper rate.
- Good Student Discount – Maintaining excellent grades may save you up to 25%. The discount lasts until age 25.
- Pay Upfront and Save – By making one initial payment instead of paying each month you can avoid monthly service charges.
- Discount for Low Mileage – Keeping the miles down on your BMW can earn better premium rates on cars that stay parked.
- Theft Deterrent System – Cars equipped with anti-theft or alarm systems have a lower chance of being stolen and qualify for as much as a 10% discount.
- Drivers Education – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class in high school.
- New Vehicle Savings – Buying a new car model is cheaper compared to insuring an older model.
As a disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. Most only cut individual premiums such as liability, collision or medical payments. Just because you may think you can get free auto insurance, you aren’t that lucky.
The example below visualizes the comparison of BMW 535i insurance prices with and without discounts being applied to the rates. The prices are based on a male driver, no claims or driving violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, safe-driver, multi-car, marriage, and claim-free discounts applied.
To find companies with the best BMW 535i insurance discounts in Laredo in Texas, click this link.
Which policy gives me the best coverage?
When quoting and choosing the right insurance coverage, there really is not a one-size-fits-all type of policy. Your needs are unique to you and your car insurance should be unique as well. These are some specific questions can aid in determining whether your personal situation would benefit from an agent’s advice.
- Are there companies who specialize in insuring high-risk drivers?
- Does coverage follow the driver or the vehicle?
- Can my teen driver be rated on a liability-only vehicle?
- Am I covered when driving a rental car?
- Does my medical payments coverage pay my health insurance deductible?
- Do I have ACV or replacement cost coverage?
- Should I pay a claim out-of-pocket?
- Should I buy full coverage?
- Does low annual mileage earn a discount?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier
Auto insurance agents can help
Many drivers still prefer to sit down and talk to an agent and that is just fine! An additional benefit of comparing rates online is that drivers can save money and get better rates but also keep your business local.
Upon completion of this form (opens in new window), your coverage information is instantly submitted to companies in Laredo who will give competitive quotes for your business. You never need to visit any agencies because prices are sent to your email. You can find the lowest rates and a licensed agent to talk to. If you wish to get a price quote from a specific insurance company, feel free to go to their quote page and fill out their quote form.
Picking the best insurance company shouldn’t rely on just the premium amount. Agents should be asked these questions:
- How much training do they have in personal risk management?
- Which companies can they place coverage with?
- How does the company pay claims for a total loss?
- How long has the business existed?
- Is coverage determined by price?
- Do they offer rental car reimbursement?
- Do they receive special compensation for putting your coverage with one company over another?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Choose the right car insurance agent
When narrowing the list to find a local Laredo insurance agency, there are a couple of different agency structures and how they differ in how they quote coverages. Car insurance agents are classified as either exclusive or independent (non-exclusive).
Exclusive Agencies
Agents that choose to be exclusive work for only one company such as Farmers Insurance, Allstate, or State Farm. They usually cannot shop your coverage around so they are skilled at selling on more than just price. Exclusive agents are trained well on their products and sales techniques which helps them compete with independent agents.
Listed below are Laredo exclusive agents that can give you price quote information.
Farmers Insurance – Manuel Benavides
4001 McPherson Rd #105 – Laredo, TX 78041 – (956) 725-5901 – View Map
Farmers Insurance – Rene Benavides
8218 Casa Verde Rd, A-5 – Laredo, TX 78041 – (956) 723-9511 – View Map
Farmers Insurance – Carlos Nunez Jr.
1102 Marshall St #3 – Laredo, TX 78045 – (956) 763-2707 – View Map
Independent Insurance Agents
Independent agencies do not sell for just one brand so they can insure your vehicles with an assortment of companies and find the cheapest rate. If your agent finds better pricing, the agent simply finds a different carrier and you don’t have to do anything. If you need lower rates, you will want to include several independent agencies to ensure the widest selection of prices.
Below is a list of independent agents in Laredo who can help you get rate quotes.
Zimmerman Insurance
3515 N Arkansas Ave #107 – Laredo, TX 78043 – (956) 796-1115 – View Map
Amco Insurance
505 Lafayette St – Laredo, TX 78041 – (956) 722-5300 – View Map
Henri D Kahn Insurance
112 Del Ct – Laredo, TX 78041 – (800) 701-5909 – View Map
If you receive reasonable responses for all questions you ask in addition to an acceptable price estimate, you’ve probably found a car insurance agent that will service your policy. Just be aware that you are entitled to terminate your policy whenever you want so don’t assume you’re contractually obligated to a policy for a certain time period.
One last thing about your coverage
In this article, we covered a lot of ways to reduce BMW 535i insurance premium rates online in Laredo. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers could even find that the best premium rates are with some of the smallest insurance companies. Some small companies can often provide lower prices in certain areas as compared to the big name companies such as State Farm, GEICO and Nationwide.
As you shop your coverage around, it’s not a good idea to buy less coverage just to save a little money. In many cases, consumers will sacrifice liability coverage limits and learned later they didn’t have enough coverage. Your objective should be to buy the best coverage you can find for the lowest cost, but do not sacrifice coverage to save money.
A few companies do not provide the ability to get a quote online and many times these regional carriers only sell coverage through independent insurance agencies. Low-cost BMW 535i insurance in Laredo can be purchased on the web in addition to many Laredo insurance agents, so compare prices from both to get a complete price analysis.
How to find low-cost rates for BMW 535i insurance in Laredo
If you want to find the absolute lowest rates, then the best way to find the cheapest price for BMW 535i insurance is to compare quotes annually from companies who provide auto insurance in Laredo. Drivers can shop around by completing these steps.
- Learn about what coverages are included in your policy and the modifications you can make to prevent expensive coverage. Many things that result in higher rates like your driving record and a poor credit rating can be remedied by making minor changes in your lifestyle.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like GEICO and State Farm, while independent agents can provide prices for a wide range of insurance providers. Get quotes now
- Compare the quotes to the price on your current policy to see if you can save by switching companies. If you can save some money, make sure there is no coverage gap between policies.
One important bit of advice is that you use the same level of coverage on every quote and to quote with as many auto insurance providers as possible. This enables the most accurate price comparison and a complete rate analysis.
More information can be found below:
- Smart Auto Insurance Tips (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers Under 21 in Laredo? (FAQ)
- Who Has Cheap Car Insurance Quotes for Teachers in Laredo? (FAQ)
- What Insurance is Cheapest for Single Moms in Laredo? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Nurses in Laredo? (FAQ)
- Who Has the Cheapest Auto Insurance for a Chevrolet Silverado in Laredo? (FAQ)
- Teen Driver Licensing Information (iihs.org)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Auto Theft Statistics (Insurance Information Institute)
- Can I Drive Legally without Insurance? (Insurance Information Institute)