Price shopping your BMW 535i insurance in Denver is slightly frustrating for drivers who are beginners to quoting and comparing prices online. There are so many options that it can easily be a difficult situation to locate the lowest rates.

Insurance for BMW 535iSad but true, over 70% of consumers have stayed with the same insurance company for four years or more, and just short of a majority have never compared rates with other companies. Denver insurance shoppers could save themselves roughly 35% a year, but most just don't grasp the big savings they would realize if they switch to a new company.

These tips will teach you a little about how car insurance quotes work and how you can save the most money. If you're already insured, you will surely be able to find better prices using this strategy. Although Colorado consumers should learn how insurance companies determine what you pay and apply this information to your search.

Car insurance rates and discounts

Insuring your fleet can be pricey, but you might already qualify for some discounts that you may not even be aware of. Certain credits will be shown when you get a quote, but occasionally some discounts must be specifically requested before they will apply. If you aren't receiving every discount you deserve, you are just wasting money.

It's important to understand that most discounts do not apply to the overall cost of the policy. Some only reduce individual premiums such as collision or personal injury protection. Even though the math looks like you could get a free car insurance policy, you're out of luck.

Popular car insurance companies and some of the premium reductions they offer can be found below.

Check with all the companies to apply every possible discount. All car insurance discounts might not be available to policyholders in your area. To find providers who offer free BMW 535i insurance quotes in Colorado, follow this link.

When shopping for low cost Denver auto insurance quotes, there are a couple of ways of comparing rates from different companies. The easiest way by far to lower the rate you pay for BMW 535i insurance is to use the internet to compare rates. When quoting auto insurance, remember that more quotes will enable you to find the best rates. Not every company does online Denver 535i insurance quotes, so you should also compare price estimates from them as well.

The providers in the list below have been selected to offer comparison quotes in Colorado. If several companies are displayed, we recommend you visit several of them in order to find the lowest rates.

BMW 535i Insurance Estimates in Denver, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $478 $838 $460 $28 $138 $1,942 $162
535I xDrive Station Wagon $200 $432 $396 $24 $118 $1,170 $98
535I GT 4-Dr Sedan $290 $582 $330 $20 $98 $1,320 $110
535I xDrive 4-Dr Sedan $334 $566 $352 $20 $106 $1,378 $115
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Information does not factor in your specific Denver location which can revise auto insurance rates considerably.

Rate difference between full and liability-only coverage

The chart below illustrates the difference between BMW 535i insurance costs with and without full coverage. The information is based on no accidents or driving violations, $250 deductibles, single male driver, and no discounts are factored in.

Should you pay for full coverage or liability only?

There is no definitive guideline for phasing out physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it's probably a good time to buy liability coverage only.

For example, let's pretend your BMW 535i replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after paying your deductible. If you are paying in excess of $400 annually for your policy with full coverage, then it might be time to buy liability only.

There are a few situations where eliminating full coverage is not in your best interest. If you haven't paid off your loan, you have to keep full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.

Physical damage deductibles

One of the most common auto insurance questions is what deductibles to buy. The following insurance rates can help show the price difference when you select higher and lower policy deductibles. The first set of rates uses a $250 deductible for physical damage and the second rate table uses a $1,000 deductible.

BMW 535i insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $376 $702 $352 $20 $106 $1,581 $132
535I xDrive Station Wagon $376 $702 $352 $20 $106 $1,581 $132
535I GT 4-Dr Sedan $376 $702 $352 $20 $106 $1,581 $132
535I xDrive 4-Dr Sedan $412 $702 $352 $20 $106 $1,617 $135
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BMW 535i insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
535I 4-Dr Sedan $232 $442 $352 $20 $106 $1,152 $96
535I xDrive Station Wagon $232 $442 $352 $20 $106 $1,152 $96
535I GT 4-Dr Sedan $232 $442 $352 $20 $106 $1,152 $96
535I xDrive 4-Dr Sedan $254 $442 $352 $20 $106 $1,174 $98
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price estimates do not factor in specific location information which can affect rates greatly.

Based on this data, using a $250 deductible costs approximately $36 more each month or $432 annually than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to go at a minimum 21 months between claim filings, you would come out ahead by going with a higher deductible.

How to determine if higher deductibles are a good idea

Average monthly premium for $250 deductibles: $133
Average monthly premium for $1,000 deductibles (subtract): - $97
Monthly savings from raising deductible: $36
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $36
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

You Can Change Your Insurance Costs

Many different elements are considered when you get your auto insurance bill. Most are fairly basic like an MVR report, but others are more transparent such as whether you are married and annual miles driven.

Your auto insurance coverage should be tailored to you

Always remember that when buying the right insurance coverage, there is no single plan that fits everyone. Everyone's needs are different.

Here are some questions about coverages that can help discover if your situation might need an agent's assistance.

If you're not sure about those questions then you might want to talk to a licensed agent. If you don't have a local agent, take a second and complete this form.

Buying from insurance agencies

Certain consumers just prefer to talk to an insurance agent and that is not a bad decision The biggest benefit of comparing insurance online is that you can obtain lower prices but still work with a licensed agent. Putting coverage with local agents is definitely important in Denver.

Denver insurance agentsUpon completion of this form (opens in new window), your information is instantly submitted to agents in your area who will give competitive quotes for your insurance coverage. There is no need to search for an agent as quotes are delivered immediately to your email address. Get lower rates without having to waste a lot of time. In the event you want to get a comparison quote from one company in particular, don't hesitate to visit that company's website and submit a quote form there.

Picking a company requires more thought than just a cheap quote. The following questions are important to ask.

If you receive positive responses to any questions you have and an acceptable price quote, you have narrowed it down to an insurer that is a good match to properly service your insurance policy.

Why you need car insurance

Even though it can be expensive, insurance may be required for several reasons.

The benefits of insuring your 535i are definitely more than the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying over $700 annually so it's very important to do a rate comparison once a year at a minimum to help ensure money is not being wasted.

Smart consumers save more

The cheapest BMW 535i insurance in Denver is attainable on the web in addition to local insurance agencies, so get free Denver auto insurance quotes from both of them to have the best selection. Some insurance companies do not offer rates over the internet and most of the time these smaller companies prefer to sell through independent agencies.

We've covered many ways to shop for BMW 535i insurance online. The key concept to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers could even find that the most savings is with an unexpected company.

As you shop your coverage around, make sure you don't skimp on coverage in order to save money. In many cases, someone sacrificed comprehensive coverage or liability limits only to discover later that the savings was not a smart move. Your focus should be to purchase a proper amount of coverage at a price you can afford, but do not sacrifice coverage to save money.

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