Truthfully, the best way to get the cheapest BMW 535i insurance is to annually compare prices from companies who provide car insurance in Fort Wayne. Drivers can shop around by completing these steps.
- Spend some time learning about coverages and the changes you can make to prevent rate increases. Many factors that are responsible for high rates like traffic citations, accidents, and a poor credit score can be improved by making minor changes in your lifestyle.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO and Allstate, while independent agents can give you price quotes for many different companies. Find a Fort Wayne insurance agent
- Compare the quotes to your existing policy to see if a cheaper rate is available. If you find a better price and make a switch, make sure there is no coverage gap between policies.
- Provide notification to your current agent or company of your decision to cancel your current auto insurance policy. Submit the required down payment along with the signed application to your new insurance company. Once coverage is bound, keep the new proof of insurance paperwork in your glove compartment.
A tip to remember is that you’ll want to compare identical coverages on every price quote and and to get prices from every company you can. Doing this helps ensure an accurate price comparison and the best price selection.
It’s easy to assume that auto insurance companies don’t want you to look at other companies. Insureds who shop around for cheaper prices are highly likely to buy a different policy because of the high probability of finding a lower-cost company. A recent survey revealed that people who regularly compared rates saved approximately $860 a year compared to other drivers who didn’t regularly shop around.
If finding discount rates on BMW 535i insurance in Fort Wayne is the reason you’re here, then knowing how to get price quotes and compare insurance coverage can help make the process easier and more efficient.
Best BMW 535i insurance prices in Indiana
The companies shown below are our best choices to provide free quotes in Fort Wayne, IN. To locate the best car insurance in Fort Wayne, it’s highly recommended you get prices from several of them to get a more complete price comparison.
Insurance statistics and figures
The information shown next outlines a range of rate quotes for BMW 535i models. Learning as much as possible about how prices are calculated can benefit drivers when making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $294 | $646 | $340 | $20 | $102 | $1,402 | $117 |
| 535I xDrive Station Wagon | $294 | $646 | $340 | $20 | $102 | $1,402 | $117 |
| 535I GT 4-Dr Sedan | $294 | $646 | $340 | $20 | $102 | $1,402 | $117 |
| 535I xDrive 4-Dr Sedan | $322 | $646 | $340 | $20 | $102 | $1,430 | $119 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Information does not factor in specific location which can modify insurance rates considerably.
Should you raise deductibles?
The hardest decision when buying coverage is how high should your deductibles be. The premium rates below may aid in understanding the premium difference when you select higher and lower comp and collision deductibles. The first rate comparisons uses a $100 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $334 | $670 | $280 | $16 | $84 | $1,409 | $117 |
| 535I xDrive Station Wagon | $334 | $670 | $280 | $16 | $84 | $1,409 | $117 |
| 535I GT 4-Dr Sedan | $334 | $670 | $280 | $16 | $84 | $1,409 | $117 |
| 535I xDrive 4-Dr Sedan | $366 | $670 | $280 | $16 | $84 | $1,441 | $120 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $186 | $352 | $280 | $16 | $84 | $918 | $77 |
| 535I xDrive Station Wagon | $186 | $352 | $280 | $16 | $84 | $918 | $77 |
| 535I GT 4-Dr Sedan | $186 | $352 | $280 | $16 | $84 | $918 | $77 |
| 535I xDrive 4-Dr Sedan | $204 | $352 | $280 | $16 | $84 | $936 | $78 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle garaging location which can impact price quotes significantly.
Based on this data, using a $100 deductible will cost in the ballpark of $41 more each month or $492 a year than choosing the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 22 months between claim filings, you would save more money if you choose the higher deductible.
Calculation for determining deductible levels
| Average monthly premium for $100 deductibles: | $118 |
| Average monthly premium for $1,000 deductibles (subtract): | – $77 |
| Monthly savings from raising deductible: | $41 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $41 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 22 months |
One thing to be aware of is that a higher deductible level means you will have to pay more of your own money when you have a comprehensive or collision claim. You will want to have enough extra money in the event you have to pay the deductible for vehicle repair.
Cautious Fort Wayne drivers save money
The example below shows how traffic citations and fender-benders can influence BMW 535i premium costs for different age categories. The information is based on a single female driver, full coverage, $1,000 deductibles, and no discounts are applied.
Full coverage rates vs. liability-only in Fort Wayne
The chart below shows the comparison of BMW 535i premium costs when comparing full coverage to liability only. The premiums are based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
When to stop buying full coverage
There isn’t a steadfast formula to eliminate physical damage insurance, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s say your BMW 535i claim settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying the physical damage deductible. If you are paying more than $300 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Fort Wayne Insurance Prices are Influenced by These Factors
The best way to find cheaper car insurance is to take a look at the different types of things that are used to determine your car insurance rates. If you have a feel for what influences your rates, this helps enable you to make changes that may reward you with better car insurance rates.
Older drivers pay less – Older insureds are more responsible, cause fewer claims and accidents, and usually have better credit. Teen drivers are proven to get distracted easily when driving with friends and because of this, their car insurance rates are much higher.
The data below uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.
Marriage brings a discount – Walking down the aisle actually saves money on your car insurance policy. Marriage is viewed as being more financially stable and insurance companies reward insureds because married drivers tend to file fewer claims.
High credit scores save money – Having a bad credit score is a big factor in determining what you pay. Drivers with good credit tend to be better drivers and file fewer claims than drivers who have poor credit. Therefore, if your credit can use some improvement, you could be paying less to insure your BMW 535i by spending a little time repairing your credit.
Lower premiums for vehicles with better crash test results – Cars with five star safety ratings cost less to insure. Highly rated vehicles help reduce the chance of injuries in an accident and fewer injuries means your insurance company pays less and cheaper rates on your policy. If your BMW is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
Policy lapses lead to higher rates – Going without insurance can be a guaranteed way to increase your renewal premiums. Not only will rates go up, being ticketed for driving with no insurance may earn you fines and jail time.
Insurance policy discounts for BMW 535i insurance in Fort Wayne
Buying insurance is not cheap, but there’s a good chance there are discounts that many consumers don’t even know exist. Most are applied when you quote, but once in a while a discount must be requested specifically in order for you to get them. If you are not receiving all the discounts you qualify for, you’re paying more than you need to.
- Early Renewal Discounts – A few companies allow discounts for renewing your policy before your current expiration date. This can save 10% or more.
- Senior Discount – Seniors may qualify for a discount up to 10%.
- Anti-theft Discount – Cars and trucks equipped with tracking devices and advanced anti-theft systems are stolen less frequently and will qualify for a discount on a Fort Wayne car insurance quote.
- First Accident Forgiveness – Not really a discount, but a few companies such as GEICO, Progressive, and Allstate permit an accident without getting socked with a rate hike so long as you are claim-free for a certain period of time.
- Pay Upfront and Save – By paying your policy upfront rather than paying monthly you can actually save on your bill.
- Distant Student Discount – Youth drivers who are attending college without a vehicle on campus could get you a discount.
Drivers should understand that some of the credits will not apply to all coverage premiums. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Even though it appears all those discounts means the company will pay you, insurance companies wouldn’t stay in business.
The example below visualizes the comparison of BMW 535i insurance prices with and without policy discounts. The price estimates are based on a male driver, no accidents, no driving violations, Indiana state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, multi-policy, safe-driver, marriage, and homeowner discounts applied.
If you would like to view providers with the best discounts in Indiana, click here.
Buying car insurance from Fort Wayne auto insurance agents
Many people just prefer to sit down with an agent and doing that can be a smart decision One of the best bonuses of comparing rates online is you may find lower rates and still have an agent to talk to. And providing support for local agencies is important particularly in Fort Wayne.
For easy comparison, once you complete this quick form, the coverage information is submitted to local insurance agents in Fort Wayne that can provide free Fort Wayne car insurance quotes for your business. It simplifies rate comparisons since you won’t have to search for any insurance agencies since price quotes are sent instantly to you. You can most likely find cheaper rates AND a local agent. If for some reason you want to get a price quote from a specific company, you just need to find their quoting web page and fill out the quote form the provide.
Exclusive agents vs. Independent agents
If you are wanting to purchase car insurance from a reliable agent, it’s important to understand the different types of agents and how they are distinctly different. Car insurance policy providers can be categorized as either independent agents or exclusive agents.
Independent Agents (or Brokers)
Independent agencies can quote rates with many companies and that allows them to write policies with a variety of different insurance companies and find the cheapest car insurance rates. If premiums increase, they simply switch companies in-house and that require little work on your part.
If you are trying to find cheaper rates, you will definitely want to get several quotes from a few independent agents for the best price selection. They also have the ability to place coverage with different regional companies that may have much lower rates than larger companies.
Shown below is a small list of independent insurance agents in Fort Wayne that can give you pricing information.
- Jackson Insurance Agency
809 S Calhoun St #308 – Fort Wayne, IN 46802 – (260) 434-0352 – View Map - Mathews Insurance Agency, Inc.
807 Lincoln Hwy W – New Haven, IN 46774 – (260) 749-9696 – View Map - Stewart Brimner Group
3702 Rupp Dr – Fort Wayne, IN 46815 – (260) 482-6900 – View Map
Exclusive Insurance Agents
Exclusive agents can usually just insure with one company and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agents cannot provide other company’s prices so they are skilled at selling on more than just price. Exclusive agents are trained well on the products they sell and that allows them to sell at a higher price point. Consumers often buy from exclusive agents primarily because of the prominence of the brand and the convenience of having all coverages with one company.
Shown below is a list of exclusive insurance agencies in Fort Wayne that are able to give rate quotes.
- Allstate Insurance: Susan L. Law
5308 St Joe Rd – Fort Wayne, IN 46835 – (260) 492-6254 – View Map - Melissa Satterthwaite – State Farm Insurance Agent
7757 Coldwater Rd – Fort Wayne, IN 46825 – (260) 489-5503 – View Map - Scott Robinson – State Farm Insurance Agent
4705 Illinois Rd Ste 100 – Fort Wayne, IN 46804 – (260) 744-3218 – View Map
Finding a good car insurance agent needs to be determined by more than just the premium amount. Before buying a policy in Fort Wayne, get answers to these questions.
- Are they giving you every discount you deserve?
- Do they offer rental car reimbursement?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Is the agency covered by Errors and Omissions coverage?
- Is their price quote a firm figure or are their hidden costs?
- Is auto insurance their primary focus in Fort Wayne?
- If you raise deductibles, how much can you save?
A little work can save a LOT of money
In this article, we presented many ideas to get a better price on BMW 535i insurance in Fort Wayne. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the lowest prices are with a lesser-known regional company.
When getting Fort Wayne car insurance quotes online, you should never reduce coverage to reduce premium. In many instances, an insured cut collision coverage and found out when filing a claim they didn’t have enough coverage. The aim is to purchase a proper amount of coverage for the lowest price while not skimping on critical coverages.
Consumers switch companies for many reasons like not issuing a premium refund, policy non-renewal, delays in responding to claim requests or even an unsatisfactory settlement offer. No matter why you want to switch, finding a new auto insurance company can be pretty painless.
Additional information can be read at the links below
- Get the Right Protection (InsureUonline.org)
- Who Has the Cheapest Fort Wayne Auto Insurance Rates for a Ford F-150? (FAQ)
- What Car Insurance is Cheapest for Teenagers in Fort Wayne? (FAQ)
- How Much are Fort Wayne Auto Insurance Quotes for a Jeep Wrangler? (FAQ)
- Who Has Affordable Car Insurance for Young Drivers in Fort Wayne? (FAQ)
- What Insurance is Cheapest for Infrequent Drivers in Fort Wayne? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Drivers Over Age 60 in Fort Wayne? (FAQ)
- Who Has Affordable Auto Insurance for Low Credit Scores in Fort Wayne? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Older Drivers FAQ (iihs.org)