Saving money on BMW 535i insurance in Cincinnati can be challenging for drivers new to quoting coverage prices online. Drivers have so many choices that it can quickly become a real difficult job to locate the lowest coverage rates.
A recent insurance study revealed that nearly 70% of consumers kept buying from the same company for at least four years, and nearly half have never compared rates with other companies. With the average insurance premium being $1,847, American drivers can save almost 47% each year by just comparing rate quotes, but they just don’t understand how easy it is to compare rates.
Consumers need to do price comparisons as often as possible because insurance prices are constantly changing. Despite the fact that you may have had the best rate on BMW 535i insurance in Cincinnati a year ago the chances are good that you can find a lower premium rate today. Forget all the misinformation about insurance because you’re about to learn the fastest way to save money, get proper coverage and the best rates.
If you have coverage now, you will definitely be able to get lower rates using the tips covered below. Our objective in writing this article is to let you in on how to get online quotes and some tricks to saving. Although Ohio consumers should learn how the larger insurance companies determine what you pay because rates are impacted by many factors.
The are a couple different ways of comparing price quotes from local Cincinnati auto insurance companies. The simplest method to find the lowest rates consists of obtaining rate quotes online. When comparison shopping, comparing more prices increases the chance that you will find better pricing.
The providers in the list below are ready to provide quotes in Cincinnati, OH. If your goal is to find the best cheap car insurance in Ohio, it’s highly recommended you visit several of them to get the cheapest price.
Verify you’re receiving every discount
Insurance is easily one of your largest bills, but you might be missing out on some discounts that many people don’t even know exist. Some discounts apply automatically at the time of quoting, but some need to be specially asked for prior to receiving the credit.
- Switch and Save Discount – Some larger companies give discounts for buying a new policy prior to the expiration date on your current 535i insurance policy. It can save you around 10%.
- Passive Restraints and Air Bags – Factory air bags or automatic seat belts can qualify for discounts up to 30%.
- Good Drivers – Accident-free drivers could pay up to 40% less than less cautious drivers.
- Save with More Vehicles Insured – Purchasing coverage when you have all your vehicles on the same insurance policy can get a discount on all vehicles.
- Life Insurance Discount – Not every insurance company offers life insurance, but if they do you may earn a discounted premium rate on car insurance if you buy some life insurance in addition to your auto policy.
- Safety Restraint Discount – Using a seat belt and requiring all passengers to use a seat belt may be able to save a few bucks off PIP or medical payments premium.
As a sidenote, most discounts do not apply to your bottom line cost. Some only reduce the cost of specific coverages such as collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, companies don’t profit that way.
The chart below visualizes the comparison of BMW 535i auto insurance rates with and without some available policy discounts. Data assumes a female driver, a clean driving record, no at-fault accidents, Ohio state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, homeowner, safe-driver, multi-policy, and multi-car discounts applied.
A list of companies and their offered discounts are outlined below.
- 21st Century policyholders can earn discounts including early bird, defensive driver, theft prevention, student driver, homeowners, teen driver, and 55 and older.
- State Farm offers discounts including defensive driving training, multiple policy, accident-free, safe vehicle, and Drive Safe & Save.
- AAA may have discounts that include anti-theft, good driver, good student, multi-policy, and pay-in-full.
- Liberty Mutual may offer discounts for new graduate, new vehicle discount, newly retired, exclusive group savings, and safety features.
- Progressive includes discounts for good student, online signing, online quote discount, multi-policy, and multi-vehicle.
Check with every prospective company what discounts are available to you. Some of the earlier mentioned discounts may not apply to policyholders in Cincinnati. To find companies who offer discounts in Cincinnati, click here.
Rate information and statistics
The price information displayed next covers estimates of policy rates for BMW 535i models. Learning more about how car insurance prices are calculated is important to be able to make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $270 | $558 | $306 | $18 | $92 | $1,244 | $104 |
| 535I xDrive Station Wagon | $270 | $558 | $306 | $18 | $92 | $1,244 | $104 |
| 535I GT 4-Dr Sedan | $270 | $558 | $306 | $18 | $92 | $1,244 | $104 |
| 535I xDrive 4-Dr Sedan | $294 | $558 | $306 | $18 | $92 | $1,268 | $106 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Information does not factor in garaging location in Cincinnati which can modify auto insurance rates greatly.
Deductible analysis
When comparing auto insurance rates, the most common question is how low should you set your deductibles. The figures shown below can help illustrate the costs and benefits between low and high physical damage deductibles. The first price estimate table uses a $250 deductible for physical damage and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $244 | $454 | $226 | $14 | $68 | $1,031 | $86 |
| 535I xDrive Station Wagon | $244 | $454 | $226 | $14 | $68 | $1,031 | $86 |
| 535I GT 4-Dr Sedan | $244 | $454 | $226 | $14 | $68 | $1,031 | $86 |
| 535I xDrive 4-Dr Sedan | $266 | $454 | $226 | $14 | $68 | $1,053 | $88 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 535I 4-Dr Sedan | $150 | $286 | $226 | $14 | $68 | $744 | $62 |
| 535I xDrive Station Wagon | $150 | $286 | $226 | $14 | $68 | $744 | $62 |
| 535I GT 4-Dr Sedan | $150 | $286 | $226 | $14 | $68 | $744 | $62 |
| 535I xDrive 4-Dr Sedan | $164 | $286 | $226 | $14 | $68 | $758 | $63 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Table data does not factor in vehicle location which can affect prices substantially.
Based on the figures above, using a $250 deductible costs roughly $25 more each month or $300 annually than quoting the higher $1,000 deductible. Because you would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally average at a minimum 30 months between claims, you would save money if you opt for a higher deductible.
How to calculate if a higher deductible is a good decision
| Average monthly premium for $250 deductibles: | $87 |
| Average monthly premium for $1,000 deductibles (subtract): | – $62 |
| Monthly savings from raising deductible: | $25 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $25 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 30 months |
One thing to note is that higher deductibles means you will have to pay more out-of-pocket when you do file a claim. That will require some savings in the bank in the event you need to pay the higher deductible.
Violations and accidents raise rates
The diagram below shows how speeding tickets and at-fault collisions can influence BMW 535i insurance premiums for each age group. The costs are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.
Liability only or full coverage
The information below illustrates the comparison of BMW 535i insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. The rates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no policy discounts are applied.
Guidelines for dropping full coverage
There isn’t a steadfast formula of when to eliminate full coverage on your policy, but there is a general guideline. If the annual cost of coverage is 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your BMW 535i settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the policy deductible has been paid. If it’s costing in excess of $800 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are a few situations where dropping physical damage coverage is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.
When should I contact an insurance agent?
Many people just prefer to talk to an insurance agent and there is nothing wrong with that. One of the great benefits of getting online price quotes is that you can obtain the best rates and still have an agent to talk to. And buying from local insurance agents is still important in Cincinnati.
After filling out this quick form, the quote information is sent to companies in Cincinnati who can give free rate quotes for your business. It simplifies rate comparisons since you won’t have to contact an agency since price quotes are sent to you. It’s the lowest rates without requiring a lot of work. If for some reason you want to get a price quote from a specific company, don’t hesitate to visit that company’s website to submit a rate quote request.
When researching a reputable agency, it helps to know the two different types of agents and how they can write your policy. Car insurance policy providers are either exclusive agents or independent agents.
Independent Agents
Independent agencies often have affiliation with several companies and that allows them to write policies through lots of different companies enabling the ability to shop coverage around. If they find a lower price, they simply move your policy to a different company and you won’t have to switch agencies. When comparing car insurance prices, we highly recommend that you check rates from several independent agencies for the best price selection. Most have the option of insuring with small mutual carriers which may provide better rates.
Below is a list of independent insurance agents in Cincinnati who may be able to give you cheap rate quotes.
- Advantage Insurance Network LLC
4739 Delhi Ave – Cincinnati, OH 45238 – (513) 922-9460 – View Map - Huesman Schmid Insurance Agency, Inc
5670 Cheviot Rd – Cincinnati, OH 45247 – (513) 521-8590 – View Map - CMS Insurance Inc
2756 Erie Ave – Cincinnati, OH 45208 – (513) 321-2000 – View Map
Exclusive Insurance Agencies
Agents that elect to be exclusive write business for a single company such as Farmers Insurance and State Farm. These agents are unable to provide other company’s prices so keep that in mind. Exclusive insurance agents are highly trained on their company’s products which helps them compete with independent agents. Consumers frequently use the same agent mainly due to the brand name rather than low rates.
Listed below is a list of exclusive insurance agents in Cincinnati that can give you rate quotes.
- American Family Insurance – Barbara Hall
4010 N Bend Rd Ste 300 – Cincinnati, OH 45211 – (513) 347-9492 – View Map - Nancy Hughett – State Farm Insurance Agent
2306 W Galbraith Rd – Cincinnati, OH 45239 – (513) 522-9343 – View Map - Eric Geiger – State Farm Insurance Agent
6900 Miami Ave – Cincinnati, OH 45243 – (513) 574-0321 – View Map
Selecting an insurance agent should depend on more than just the premium amount. These are valid questions to ask:
- Will the agent or a CSR service your policy?
- What discounts might you be missing?
- How long has the business existed?
- Does the company use OEM repair parts?
- Are they primarily personal or commercial lines agents in Cincinnati?
- Do they write coverage based solely on cost?
- If you raise deductibles, how much can you save?
- Does the quote include credit and driving reports?
If you feel you receive positive responses to any questions you have and an affordable coverage quote, you may have just found an insurance agent that is a good match to properly insure your vehicles.
Special considerations
Always keep in mind that when comparing proper insurance coverage, there is no one-size-fits-all type of policy. Each situation is unique.
Here are some questions about coverages that might help in determining if you would benefit from an agent’s advice.
- Does coverage extend to my business vehicle?
- Am I covered if I have no license?
- Is borrowed equipment or tools covered if stolen or damaged?
- What is medical payments coverage?
- What is the minimum liability in Ohio?
- Do I pay less for low miles?
- Who is covered by my policy?
- How do I insure my teen driver?
- What if I total my BMW 535i and owe more than it’s worth?
- When would I need rental car insurance?
If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form.
What Determines BMW 535i Insurance Costs?
The best way to find cheaper insurance is to take a look at the factors that go into determining your insurance rates. When you know what positively or negatively determines base rates, this enables informed choices that will entitle you to lower premium levels. Many things are used in the calculation when you get your auto insurance bill. Most are fairly basic such as traffic violations, but other factors are not as apparent such as your marital status or how safe your car is.
The following are some of the most common factors used by your company to calculate your rate level.
-
Insurance prices and vehicle performance – The performance level of the car or truck you need to insure makes a big difference in your rates. Lower performance four cylinder passenger cars generally receive the lowest base rates, but there are many factors that impact the final cost.
The chart below assumes a married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. The data compares BMW 535i policy rates compared to other makes and models that have a range of risk factors.
- Annual miles is a factor – The higher the mileage driven in a year’s time the more it will cost to insure it. Almost all companies calculate prices based upon how much you drive. Cars and trucks that do not get driven very much can get a lower rate than vehicles that are driven to work every day. Incorrect rating for your 535i can cost quite a bit. Make sure your insurance policy shows the proper vehicle usage, because improper ratings can cost you money.
- Your job may affect rates – Occupations such as lawyers, architects, and medical professionals generally have higher rates than average because of job stress and lengthy work days. Conversely, careers such as scientists, historians and the unemployed have lower than average premiums.
- More than one policy can earn a discount – Most major companies give discounts for people who buy several policies from them, otherwise known as a multi-policy discount. Even though this discount sounds good, consumers should still get quotes from other companies to guarantee you are still saving the most.
- When should you not file insurance claims? – If you file claims often, you can look forward to either a policy non-renewal or much higher rates. Insurance companies in Ohio award the lowest premiums to people that do not abuse their auto insurance. Auto insurance is intended for major claims that would cause financial hardship.
Why you need auto insurance
Even though it can be expensive, buying auto insurance serves an important purpose.
- Just about all states have minimum liability requirements which means the state requires a specific minimum amount of liability protection in order to drive the car legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a loan on your vehicle, it’s guaranteed your bank will have a requirement that you 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 much higher rate and require you to reimburse them the higher price.
- Auto insurance protects not only your BMW 535i but also your assets. Insurance will also pay for many types of medical costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having auto insurance outweigh the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is overpaying over $750 every year so you should quote rates at every renewal to save money.
Affordable auto insurance rates are possible
Lower-priced auto insurance in Cincinnati can be found both online as well as from independent agents in Cincinnati, so you should be comparing quotes from both so you have a total pricing picture. Some insurance providers may not have rate quotes online and these small insurance companies sell through independent insurance agencies.
In this article, we covered some good ideas how to get a better price on BMW 535i insurance in Cincinnati. The most important thing to understand is the more you quote Cincinnati car insurance, the better your chances of lowering your premium rates. You may even be surprised to find that the best price on auto insurance is with some of the lesser-known companies.
When searching for the cheapest BMW 535i rate quotes, it’s very important that you do not reduce coverage to reduce premium. Too many times, drivers have reduced collision coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase a proper amount of coverage at the best price while still protecting your assets.
How to buy cheaper BMW 535i insurance in Cincinnati
To save the most money, the best way to get discount BMW 535i insurance is to start comparing prices regularly from providers in Cincinnati.
First, try to comprehend what coverages are included in your policy and the measures you can take to prevent rate increases. Many rating factors that result in higher prices such as at-fault accidents, careless driving, and an unacceptable credit history can be remedied by making lifestyle changes or driving safer.
Second, quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO or Farmers Insurance, while independent agents can provide prices from multiple insurance companies.
Third, compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you find a better price and switch companies, verify that coverage does not lapse between policies.
Fourth, give proper notification to your current agent or company of your intention to cancel the current policy. Submit the signed application along with the required initial payment to the new insurer. Immediately place your new proof of insurance paperwork with the vehicle registration.
One key aspect when comparing rates is to use identical coverage information on every price quote and and to get rate quotes from as many companies as you can. Doing this enables the most accurate price comparison and a complete price analysis.
More articles
- Car Insurance: When not to Skimp (BankRate.com)
- How Much are Auto Insurance Rates for Young Drivers in Cincinnati? (FAQ)
- Who Has Affordable Cincinnati Auto Insurance for Infrequent Drivers? (FAQ)
- What Insurance is Cheapest for College Students in Cincinnati? (FAQ)
- Your Car has been Stolen: Now What? (Allstate)
- Auto Insurance for Teen Drivers (Insurance Information Institute)