Drivers Who Know These Tricks Save More on BMW 530i Insurance

Finding the cheapest insurance for a BMW 530i can be an all-consuming task, but you can learn our car insurance buying tips to find lower rates.

There are more efficient ways to buy car insurance and we’ll show you the best way to price shop coverage for your BMW and obtain the lowest price from both online companies and local agents.

It’s important to compare rates every six months since rates change quite often. Even if you got the lowest rates for 530i coverage a few years ago the chances are good that you can find a lower rate today. Starting right now, ignore everything you know about car insurance because I’m going to teach you the tricks you need to know to find lower rates on car insurance.

These factors can influence BMW 530i insurance rates

Smart consumers have a good feel for some of the elements that help determine the rates you pay for car insurance. Having a good understanding of what determines base rates empowers consumers to make smart changes that can help you get much lower annual insurance costs.

• Better credit scores mean better rates – A driver’s credit score is a important factor in determining what you pay for car insurance. Consumers who have good credit tend to be less risk to insure than those with lower ratings. If your credit score is low, you could pay less to insure your BMW 530i by improving your credit score.
• Males pay more for insurance – Statistics show that women are safer drivers than men. However, don’t assume that men are worse drivers. They both are in accidents in similar numbers, but the males cause more damage and cost insurance companies more money. They also receive more costly citations like reckless driving and DUI.
• Rural vs Urban Areas – Being located in a rural area is a positive aspect when talking about car insurance. Drivers who live in large cities regularly have more traffic problems and a longer drive to work. Less people living in that area translates into fewer accidents and also fewer theft and vandalism claims.
• Do you have a high stress job? – Careers like doctors, business owners and accountants tend to pay higher rates than average because of high stress and long work hours. On the flip side, professions such as scientists, athletes and retirees have the lowest average rates for 530i coverage.
• Being married is a good thing – Being married can get you a discount on your policy. Having a significant other translates into being more mature and responsible and it’s statistically proven that married couples file fewer claims.
• Too many car insurance claims drive up costs – Insurance companies award lower rates to policyholders who do not rely on their insurance for small claims. If you frequently file small claims, you can look forward to either policy cancellation or increased premiums. Insurance coverage is designed for major claims that would cause financial hardship.
• Older drivers save more – Mature drivers tend to be more responsible, statistically cause fewer accidents and receive fewer citations. Young drivers are known to be less responsible in a vehicle and because of this, their car insurance rates are much higher.

You probably qualify for some discounts

Car insurance can cost a lot, but companies offer discounts that can drop the cost substantially. A few discounts will automatically apply when you quote, but less common discounts must be specifically requested before being credited.

• No Claims – Good drivers with no accidents can save substantially when compared to drivers who are more careless.
• Theft Prevention System – Vehicles with anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
• Air Bag Discount – Factory air bags can receive discounts of 20% or more.
• Resident Student – Children who attend school more than 100 miles from home and do not have access to a covered vehicle can be insured at a reduced rate.
• Safety Course Discount – Completing a course teaching defensive driving skills could possibly earn you a 5% discount and easily recoup the cost of the course.
• Discount for New Cars – Buying coverage on a new vehicle can be considerably cheaper compared to insuring an older model.
• Driver’s Ed – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
• Safe Driver Discount – Drivers who avoid accidents can get discounts for up to 45% lower rates for 530i coverage than less cautious drivers.

It’s important to understand that most discounts do not apply the the whole policy. A few only apply to individual premiums such as medical payments or collision. Even though it may seem like it’s possible to get free car insurance, it just doesn’t work that way. But any discount will cut the cost of coverage.

To see a list of providers with discount car insurance rates, click here.

Are you falling for claims of savings?

Car insurance providers like GEICO, State Farm and Progressive continually stream television and radio advertisements. They all make an identical promise of big savings after switching your policy. How can each company say the same thing? It’s all in the numbers.

Different companies have a preferred profile for the right customer they prefer to insure. For example, a desirable insured could be between 30 and 50, has no tickets, and drives newer vehicles. A customer getting a price quote that hits that “sweet spot” receives the best rates and therefore will save a lot of money.

Drivers who don’t measure up to the requirements will be charged higher premiums which usually ends up with the customer not buying. Company advertisements say “customers who switch” not “everyone that quotes” save that much money. That’s the way insurance companies can confidently make those claims.

That is why you need to get as many quotes as possible. It is impossible to predict which car insurance company will have the lowest rates.

In the end, you save

Drivers leave their current company for a number of reasons such as extreme rates for teen drivers, delays in responding to claim requests, not issuing a premium refund or lack of trust in their agent. Regardless of your reason for switching companies, finding a great new company is pretty simple and you could end up saving a buck or two.

Cost effective BMW 530i insurance is available on the web as well as from independent agents, and you should compare price quotes from both to have the best chance of lowering rates. A few companies don’t offer you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

When you buy insurance online, it’s not a good idea to reduce needed coverages to save money. There are a lot of situations where consumers will sacrifice uninsured motorist or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy the best coverage you can find at a price you can afford.