BMW 535i Insurance Quotes in Oakland

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Insurance quote for BMW 535i in OaklandNo sane person likes buying car insurance, especially knowing it costs too dang much.

It's an obvious assumption that car insurance companies want to keep you from shopping around. Insureds who shop around once a year are highly likely to switch companies because there is a good chance of finding coverage at a more affordable price. A recent car insurance study discovered that drivers who routinely shopped for cheaper coverage saved as much as $3,500 over four years compared to those who don't regularly compare prices.

If finding discount rates on car insurance in Oakland is your goal, then having some insight into how to get free comparison quotes and analyze car insurance can save time and money.

Steps to buying low-cost BMW 535i insurance in Oakland

The best way we recommend to find better pricing on auto insurance rates in Oakland is to annually compare prices from different companies in California.

  1. Try to comprehend what is in your policy and the changes you can make to prevent rate increases. Many policy risk factors that result in higher prices such as speeding tickets, accidents and a not-so-good credit score can be controlled by paying attention to minor details. This article gives more information to help find cheaper rates and get additional discounts that may be available.
  2. Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from a single company like GEICO and Allstate, while independent agents can provide price quotes for many different companies.
  3. Compare the new rate quotes to the premium of your current policy to see if a cheaper price is available in Oakland. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.

A good piece of advice is to compare the same level of coverage on each price quote and and to compare as many companies as possible. Doing this provides an accurate price comparison and a complete rate analysis.

Big-name insurance companies like Allstate and Progressive all promote huge savings with ads and it is challenging if not impossible to see past the corporate glitz and find the best price available.

Consumers should take time to shop coverage around before your next renewal because car insurance prices are constantly changing. If you had the best price on BMW 535i insurance in Oakland at your last renewal you will most likely find a better rate quote today. Forget all the misinformation about car insurance because you're about to learn one of the best ways to lower your rates without sacrificing coverage.

Cutting your Oakland auto insurance rates is surprisingly easy. You just have to invest a few minutes to get quotes online from several insurance companies.

Getting free quotes online is quite simple, and it makes it obsolete to actually drive to and from local Oakland insurance agencies. Comparing BMW 535i insurance rates online eliminates the middleman unless you have a complicated situation and need the personal advice that only a licensed agent can provide. Although you can get prices online but purchase the actual policy in an agency.

The companies shown below are ready to provide price quotes in Oakland, CA. If you want the best cheap auto insurance in Oakland, it's a good idea that you visit as many as you can to get the best price comparison.

Detailed insurance information

The coverage table displayed below highlights a range of coverage costs for BMW 535i models. Having a better idea how insurance quotes are figured can help you make smart choices when buying a car insurance policy.

BMW 535i Insurance Rates in Oakland, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $430 $812 $456 $26 $136 $1,860 $155
535I xDrive Station Wagon $430 $812 $456 $26 $136 $1,860 $155
535I GT 4-Dr Sedan $430 $812 $456 $26 $136 $1,860 $155
535I xDrive 4-Dr Sedan $470 $812 $456 $26 $136 $1,900 $158
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Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Information does not factor in specific location which can affect premiums significantly.

Car insurance deductibles

One common question asked by Oakland drivers is what deductibles to buy. The tables below can help you visualize the rate fluctuation of buying low and high physical damage deductibles. The first price estimate table uses a $100 deductible for physical damage and the second pricing table uses a $1,000 deductible.

BMW 535i insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $528 $1054 $442 $26 $132 $2,207 $184
535I xDrive Station Wagon $528 $1054 $442 $26 $132 $2,207 $184
535I GT 4-Dr Sedan $528 $1054 $442 $26 $132 $2,207 $184
535I xDrive 4-Dr Sedan $576 $1054 $442 $26 $132 $2,255 $188
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BMW 535i insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $292 $556 $442 $26 $132 $1,448 $121
535I xDrive Station Wagon $292 $556 $442 $26 $132 $1,448 $121
535I GT 4-Dr Sedan $292 $556 $442 $26 $132 $1,448 $121
535I xDrive 4-Dr Sedan $320 $556 $442 $26 $132 $1,476 $123
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium costs do not factor in vehicle location which can decrease or increase prices considerably.

We can estimate from the data above that using a $100 deductible could cost the average driver approximately $63 more each month or $756 every year averaged for all 535i models than opting for the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to average at least 14 months between claim filings, you would most likely save money if you choose the higher deductible. Here is the way this decision is made.

Average monthly premium for $100 deductibles: $185
Average monthly premium for $1,000 deductibles (subtract): - $122
Monthly savings from raising deductible: $63
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $63
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One thing to note is that increasing deductibles to lower your rates means you will have to pay more when you have a physical damage claim. You need to have some extra savings in order to pay more to get your vehicle repaired.

The example below illustrates how your deductible choice and can impact BMW 535i annual premium costs for different age groups of insureds. The prices are based on a single female driver, comp and collision included, and no discounts are applied to the premium.

Full coverage rates compared to liability-only

The example below illustrates the difference between BMW 535i auto insurance costs with full coverage compared to only the California minimum liability coverage. The information is based on no accidents or driving violations, $250 deductibles, drivers are single, and no additional discounts are factored in.

When to eliminate full coverage

There is no exact formula to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle's replacement cost less your deductible, then it's probably a good time to buy liability coverage only.

For example, let's pretend your BMW 535i replacement cost is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying your policy deductible. If premiums are more than $400 a year for physical damage coverage, then it could be time to drop full coverage.

There are some conditions where removing full coverage 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 conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.

Lower rates by qualifying for discounts

Companies that sell car insurance do not list every discount available very clearly, so the following list contains some of the best known and also the lesser-known discounts that may be available. If you check and find you aren't receiving every discount you qualify for, you are not getting the best rate possible.Insurance discounts

  • Passive Restraint Discount - Vehicles equipped with air bags or motorized seat belts can receive discounts of more than 20%.
  • Payment Discounts - If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
  • Multiple Vehicles - Drivers who insure multiple cars on one policy can get a discount on all vehicles.
  • Anti-theft System - Cars equipped with tracking devices and advanced anti-theft systems help deter theft and can earn a small discount on your policy.
  • Membership in Organizations - Being a member of a professional or civic organization can get you a small discount on your policy.
  • Save with a New Car - Buying a new car model can be considerably cheaper because newer vehicles keep occupants safer.

You should keep in mind that most credits do not apply to the whole policy. A few only apply to individual premiums such as comp or med pay. Despite the fact that it seems like all the discounts add up to a free policy, nobody gets a free ride. But all discounts will definitely reduce your overall bill.

The diagram below illustrates the comparison of BMW 535i insurance rates with and without policy discounts. The data is based on a male driver, no claims or driving citations, California state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, multi-car, claim-free, and multi-policy discounts applied.

A few popular companies and some of the premium reductions they offer are included below.

  • State Farm offers premium reductions for safe vehicle, Steer Clear safe driver discount, Drive Safe & Save, good student, passive restraint, and driver's education.
  • Farmers Insurance may offer discounts for pay in full, teen driver, homeowner, switch companies, multi-car, youthful driver, and alternative fuel.
  • Progressive has discounts for continuous coverage, good student, multi-policy, online quote discount, online signing, multi-vehicle, and homeowner.
  • GEICO may have discounts that include membership and employees, federal employee, seat belt use, five-year accident-free, driver training, air bags, and emergency military deployment.
  • Auto-Owners Insurance discounts include multi-policy, paid in full, air bags, company car, paperless, anti-theft, and student away at school.
  • The Hartford offers discounts including driver training, air bag, good student, bundle, defensive driver, and vehicle fuel type.
  • Farm Bureau includes discounts for multi-policy, youthful driver, 55 and retired, safe driver, renewal discount, and good student.
  • USAA may include discounts for military installation, defensive driver, multi-vehicle, loyalty savings, driver training, family discount, and vehicle storage.

If you need lower rates, check with each insurance company which discounts you qualify for. Some discounts listed above might not be offered in Oakland.

Three main reasons to buy car insurance

Despite the high cost, insuring your vehicle is mandatory in California but it also protects more than you think.

  • Just about all states have mandatory liability insurance requirements which means the state requires a specific minimum amount of liability coverage if you want to drive legally. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you have a loan on your vehicle, almost every bank will require you to have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your BMW at a significantly higher premium and require you to pay the higher price.
  • Car insurance protects both your BMW and your assets. It will also provide coverage for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability coverage also covers legal expenses if you are sued as the result of your driving. If your BMW gets damaged, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of insuring your 535i more than cancel out the cost, especially if you ever need it. But the average driver in California is overpaying more than $865 each year so you should quote and compare rates every year to help ensure money is not being wasted.

When do I need to contact a local insurance agent?

Many people still prefer to sit down and talk to an agent and doing that can be a smart decision Good agents are highly skilled in risk management and help submit paperwork. A nice benefit of comparing rates online is you may find lower rates and also buy local. And supporting small agencies is important particularly in Oakland.

Find insurance agent in OaklandFor easy comparison, once you complete this simple form, the coverage information gets sent to companies in Oakland that provide free Oakland car insurance quotes for your coverage. You don't have to contact any agents as quotes are delivered to the email address you provide. If you need to quote rates from a specific insurance provider, you can always search and find their rate quote page and submit a quote form there.

Deciding on a company is decision based upon more than just the quoted price. Here are some questions you should ask.

  • If your car is totaled, how to they determine the replacement cost?
  • Which companies do they recommend if they are an independent agency?
  • Will you work with the agent or an assistant?
  • How will an accident affect your rates?
  • What is the financial rating for the quoted company?

After receiving reasonable responses to any questions you have as well as a price you're happy with, you may have just found an insurance company that is a good match to insure your vehicles.