Cheapest Insurance for a BMW 535i in Portland

We don’t have to tell you that insurance companies don’t want you to look for cheaper rates. Drivers who get price comparisons are highly likely to move their business because of the high probability of finding lower rate quotes. A study discovered that people who compared price quotes annually saved as much as $3,400 over four years compared to people who never shopped around.

If finding the cheapest price on BMW 535i insurance in Portland is why you’re here, then having a good understanding how to quote and compare cheaper coverage can help you succeed in finding affordable rates.

Insurance for BMW 535iIf saving the most money is your goal, then the best way to get budget BMW 535i insurance in Portland is to regularly compare prices from providers in Oregon.

First, read and learn about the coverage provided by your policy and the measures you can control to prevent rate increases. Many rating factors that cause high rates like accidents, traffic tickets, and a poor credit score can be eliminated by being financially responsible and driving safely.

Second, compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agents can provide prices from many different companies.

Third, compare the new rate quotes to your existing rates and determine if cheaper 535i coverage is available in Portland. If you find better rates, verify that coverage does not lapse between policies.

Fourth, notify your current company of your intent to cancel your current coverage and submit a down payment along with a signed application to the newly selected company. Once the application is submitted, place your new proof of insurance paperwork in an easily accessible location in your vehicle.

One thing to remember is that you use the same coverage limits and deductibles on each quote and and to compare as many companies as possible. This guarantees a fair price comparison and many rates to choose from.

The companies shown below provide comparison quotes in Oregon. If your goal is to find cheap car insurance in Portland, OR, we suggest you click on several of them to find the lowest auto insurance rates.

Get cheaper rates on BMW 535i insurance in Portland with these discounts

Auto insurance is expensive, but companies offer discounts that can dramatically reduce your bill. Certain discounts will be applied at the time you complete a quote, but once in a while a discount must be requested specifically before they will apply. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.Auto insurance discounts

Drivers should understand that most credits do not apply to all coverage premiums. Most only reduce the price of certain insurance coverages like collision or personal injury protection. So when it seems like you could get a free auto insurance policy, you aren’t that lucky.

The diagram below compares BMW 535i car insurance costs with and without discounts applied. The rate quotes are based on a male driver, a clean driving record, no at-fault accidents, Oregon state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, claim-free, multi-policy, and multi-car discounts applied.

Car insurance companies that may have these benefits include:

When comparing rates, check with every insurance company which discounts they offer. Some of the earlier mentioned discounts might not be available to policyholders in Portland. If you would like to see a list of insurance companies that have a full spectrum of discounts in Oregon, follow this link.

Data for BMW 535i insurance

The information displayed below covers detailed analysis of prices for BMW 535i models. Learning as much as possible about how insurance premiums are determined can help you make smart choices when buying a car insurance policy.

BMW 535i Insurance Rates in Portland, OR
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $328 $746 $336 $20 $100 $1,530 $128
535I xDrive Station Wagon $328 $746 $336 $20 $100 $1,530 $128
535I GT 4-Dr Sedan $328 $746 $336 $20 $100 $1,530 $128
535I xDrive 4-Dr Sedan $358 $746 $336 $20 $100 $1,560 $130
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Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in your specific Portland location which can impact prices noticeably.

An analysis of deductible level

One of the hardest decisions when shopping for insurance is where to set your physical damage deductibles. The following tables can help illustrate the difference in cost between high and low deductibles. The first rate table uses a $250 physical damage deductible and the second price table uses a $1,000 deductible.

BMW 535i insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $342 $638 $320 $18 $96 $1,439 $120
535I xDrive Station Wagon $342 $638 $320 $18 $96 $1,439 $120
535I GT 4-Dr Sedan $342 $638 $320 $18 $96 $1,439 $120
535I xDrive 4-Dr Sedan $374 $638 $320 $18 $96 $1,471 $123
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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 $212 $402 $320 $18 $96 $1,048 $87
535I xDrive Station Wagon $212 $402 $320 $18 $96 $1,048 $87
535I GT 4-Dr Sedan $212 $402 $320 $18 $96 $1,048 $87
535I xDrive 4-Dr Sedan $232 $402 $320 $18 $96 $1,068 $89
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price estimates do not factor in Portland location which can influence insurance rates significantly.

Based on this data, using a $250 deductible costs roughly $33 more each month or $396 a year than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you average at least 23 months between claim filings, you would save money if you elect the higher deductible.

The chart below illustrates how your deductible choice and can affect BMW 535i yearly insurance costs for different ages of insureds. The rate quotes are based on a married female driver, comp and collision included, and no other discounts are factored in.

Full coverage or liability only

The diagram below compares BMW 535i insurance rates with full physical damage coverage compared to only buying liability only. The rates are based on no claims or driving violations, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

Should you buy full coverage or liability only?

There is no set guideline that works best for making the decision to drop physical damage coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your BMW 535i replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after the policy deductible has been paid. If premium cost is more than $500 annually for physical damage coverage, then you may want to consider only buying liability coverage.

There are some conditions where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Cut Insurance Costs with These Tips

A large part of saving on auto insurance is knowing some of the factors that help determine the price you pay for auto insurance. When consumers understand what determines base rates, this helps enable you to make changes that can earn you lower premium levels. Multiple criteria are considered when you get a price on insurance. Some of the criteria are obvious such as traffic violations, although some other factors are more obscure such as your credit history or how financially stable you are.

The following are a few of the “ingredients” auto insurance companies consider when setting your prices.

Additional coverages that may be costing you – Insurance companies have many extra add-on coverages that can waste your money if you aren’t diligent. Coverages like roadside assistance, towing, and additional equipment coverage may not be needed and are just wasting money. These coverages may sound good when talking to your agent, but if you don’t need them remove them from your policy.

The type of car you drive affects your costs – The type of car you own makes a significant difference in your rates. The most favorable rates are for lower performance four cylinder passenger cars, but the cost you end up paying is determined by many additional factors.

The chart below uses these variables: married female driver age 50, full coverage with $100 deductibles, and no discounts or violations. It compares BMW 535i car insurance rates compared to other models of vehicles that have a range of risk factors.

Drive lots and pay more – Driving more miles annually the more it will cost to insure it. Most insurance companies rate vehicles based upon how much you drive. Vehicles left parked in the garage receive better premium rates than vehicles that have high annual mileage. Incorrect rating for your 535i may be costing you higher rates. It’s a good idea to make sure your policy states how each vehicle is driven, because improper ratings can cost you money.

Auto insurance policy lapses lead to higher rates – Driving any period of time without insurance is a big no-no and auto insurance companies will penalize you for letting your coverage lapse. Not only will you pay more, getting caught without coverage will get you a license revocation or jail time. You may have to provide proof of insurance in the form of an SR-22 filing with the Oregon department of motor vehicles.

Liability insurance is peace of mind – Your policy’s liability coverage is the coverage that protects you if you are responsible for damages caused by your negligence. This coverage provides you with a defense in court to defend your case. This coverage is very inexpensive compared to other policy coverages, so drivers should carry high limits.

Gender and insurance premiums – Over the last 30 years, statistics show that females take fewer risks when driving. The data does not necessarily mean that women are better drivers. Males and females tend to get into at-fault accidents at about the same rate, but the men get into accidents with more damage. Not only that, but men also get ticketed for serious violations like driving under the influence (DUI). Male teenagers generally have the highest accident percentage and are penalized with high auto insurance rates.

The chart below shows the difference between BMW 535i car insurance rates for male and female drivers. The prices are based on no claims or driving citations, comp and collision included, $100 deductibles, single marital status, and no discounts are taken into consideration.

Insurance companies don’t like frequent policy claims – Insurance companies in Oregon award the lowest premiums to insureds who are claim-free. If you are a frequent claim filer, you can look forward to increased rates or even have your policy non-renewed. Auto insurance is intended to be relied upon for larger claims.

Is your vehicle theft-ready? – Choosing to buy a car with anti-theft technology or alarm system can get you a discount on your auto insurance. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder auto theft.

When to talk to a local insurance agent

A small number of people just want to have an agent’s advice and doing that can be a smart decision Insurance agents can help you choose the best coverages and help file insurance claims. The biggest benefit of getting free rate quotes online is the fact that you can find the best rates and also buy local.

After filling out this simple form, your coverage information is transmitted to participating agents in Portland who want to provide quotes for your auto insurance coverage. You won’t need to contact an agency since rate quotes are delivered to you. In the event you want to compare prices for a specific company, just search and find their rate quote page and submit a quote form there.

Finding a good company is decision based upon more than just the premium amount. Any good agent in Portland should know the answers to these questions.

Upon receiving good answers to all your questions and locked in a price quote, chances are good that you have found an insurer that is professional and can adequately provide auto insurance. Just remember once you purchase a policy you can terminate coverage whenever you wish so don’t assume that you are permanently stuck with any particular company for the full term.

Oregon car insurance company ratings

Finding a high-quality auto insurance provider can be challenging considering how many different companies there are to choose from in Oregon. The company information shown next may help you decide which providers to look at when comparing rates.

Portland, Oregon Car Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Mercury Insurance 88 91 90 85% A+ 89.4
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
Travelers 80 87 87 83% A++ 85.2
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Data Source: Best Car Insurance Companies

You can lower your insurance rates

In this article, we presented a lot of techniques to lower your BMW 535i insurance premium rates in Portland. The most important thing to understand is the more price quotes you have, the higher your chance of finding affordable Portland car insurance quotes. Drivers may even discover the lowest premium rates come from some of the smallest insurance companies. They can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.

When getting Portland car insurance quotes online, do not buy less coverage just to save a little money. In many instances, an accident victim reduced full coverage only to find out that the savings was not a smart move. The aim is to buy enough coverage at the lowest possible cost, but do not sacrifice coverage to save money.

Lower-priced insurance in Portland can be sourced on the web and with local Portland insurance agents, and you should compare rates from both to have the best rate selection. Some insurance companies do not provide the ability to get quotes online and many times these smaller companies only sell coverage through independent agents.

Additional information