Scraping up a payment for pricey BMW 535i insurance in Anchorage can sap your budget and force you to make tough financial choices. Comparing rates annually is a great way to slash your bill and have more diposable income.
Everyone knows that auto insurance companies don’t want their customers to go rate shopping. Insureds who compare rates annually are likely to switch companies because they have good chances of finding a lower-priced policy. Remarkably, a study showed that consumers who compared prices regularly saved about $72 a month compared to those who never shopped for cheaper rates.
If finding low prices for car insurance is the reason for your visit, then having a good understanding how to get rate quotes and compare insurance coverage can help simplify the process.
Steps to finding affordable quotes for BMW 535i insurance in Anchorage
If you want to save money, the best way to get more affordable BMW 535i insurance is to regularly compare price quotes from providers who provide car insurance in Anchorage. Rates can be compared by completing these steps.
- Spend some time learning about how insurance works and the changes you can make to prevent rate increases. Many things that are responsible for high rates such as at-fault accidents and a not-so-good credit history can be eliminated by making small lifestyle or driving habit changes. Read the full article for instructions to prevent rate hikes and find available discounts that you may qualify for.
- Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from one company like GEICO or Allstate, while independent agents can give you price quotes from multiple insurance companies.
- Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you can save some money, make sure coverage does not lapse between policies.
An important note is to compare the same liability limits and deductibles on each price quote and and to get rate quotes from as many companies as possible. Doing this guarantees the most accurate price comparison and a complete selection of prices.
Online insurance companies like GEICO, Farmers Insurance and State Farm all promote huge savings with fancy advertisements and consumers find it hard to see past the corporate glitz and find the best price available.
When price shopping your coverage, comparing more rates from different companies helps improve the odds of finding a lower rate than you’re paying now. Some insurance companies are not set up to provide Anchorage 535i insurance quotes online, so you should also compare price estimates from the smaller companies as well.
The following companies provide quotes in Alaska. If multiple companies are listed, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
BMW 535i insurance rates and statistics
The premium information displayed next covers a range of insurance prices for BMW 535i models. Having a better idea how rates are established is important for making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|535I 4-Dr Sedan||$254||$552||$262||$16||$78||$1,162||$97|
|535I xDrive Station Wagon||$254||$552||$262||$16||$78||$1,162||$97|
|535I GT 4-Dr Sedan||$254||$552||$262||$16||$78||$1,162||$97|
|535I xDrive 4-Dr Sedan||$276||$552||$262||$16||$78||$1,184||$99|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rates do not factor in specific location which can alter insurance rates noticeably.
The diagram below demonstrates how choosing different deductibles and can increase or decrease BMW 535i annual premium costs for different age groups. The information is based on a married female driver, full physical damage coverage, and no additional discounts are factored in.
Comparison of auto insurance rates by gender and age
The diagram below illustrates the difference between BMW 535i auto insurance costs for male and female drivers. The premiums assume no violations or accidents, comp and collision included, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
Full coverage or liability only
The illustration below shows the difference between BMW 535i insurance rates with full coverage compared to only the Alaska minimum liability coverage. The premiums assume no claims or violations, $250 deductibles, drivers are single, and no discounts are applied to the premium.
Are you wasting money on full coverage?
There isn’t a written rule of when to stop paying for physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your BMW 535i replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after paying your policy deductible. If premiums are more than $200 annually to have full coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where removing full coverage is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Local Anchorage insurance agencies
A lot of people still like to talk to an insurance agent and we recommend doing that An additional benefit of comparing insurance prices online is that drivers can save money and get the lowest rates but also keep your business local. Buying insurance from local agents is definitely important in Anchorage.
After completing this simple form, your coverage information is transmitted to insurance agents in Anchorage that can give you free Anchorage car insurance quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact any insurance agencies as quotes are delivered instantly to you. It’s the lowest rates without the usual hassles of price shopping. If you wish to compare prices from a specific company, feel free to visit that company’s website and submit a quote form there.
Pick the best car insurance agent in Anchorage for you
If you’re trying to find a reliable agent, you should know the different types of agencies and how they differ in how they quote coverages. Insurance agents in Anchorage are either exclusive or independent agents depending on their company appointments.
Agents that elect to be independent do not sell for just one brand and that gives them the ability to insure with a variety of different insurance companies and possibly get better coverage at lower prices. If you are not satisfied with one company, the business is moved internally and you don’t have to switch agencies.
If you need cheaper insurance rates, we recommend you check rates from several independent agencies for the best price selection.
Featured below is a short list of independent agents in Anchorage who may be able to give you price quote information.
Kevin Dykman Agency
4450 Cordova St #120 – Anchorage, AK 99503 – (907) 563-5300 – View Map
Agents in the exclusive channel generally can only insure with one company like AAA, Allstate, State Farm, or Farmers Insurance. These agents are unable to give you multiple price quotes so they have to upsell other benefits. Exclusive agents are usually quite knowledgeable on their products and sales techniques which helps offset the inability to provide other markets.
Listed below are Anchorage exclusive insurance agencies that can give you comparison quotes.
Finding the right car insurance agent is decision based upon more than just a cheap price. Any good agent in Anchorage should know the answers to these questions.
- Does the agent have a valid license to sell insurance in Alaska?
- Did they already check your driving record and credit reports?
- In the event of vehicle damage, can you pick the collision repair facility?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Do they have any clout with companies to ensure a fair claim settlement?
- If independent agents, which companies do they recommend?
Best auto insurance company in Anchorage
Ending up with a highly-rated car insurance company can be rather challenging considering how many different companies there are to choose from in Alaska. The ranking data in the lists below could help you choose which providers to look at purchasing a policy from.
Top 10 Anchorage Car Insurance Companies by A.M. Best Rank
- USAA – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Allstate – A+
- Progressive – A+
- The Hartford – A+
- The General – A-
- AAA Insurance – A
- Liberty Mutual – A
Top 10 Anchorage Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- GEICO – 89%
- The Hartford – 89%
- The General – 88%
- 21st Century – 88%
- Allstate – 88%
- Liberty Mutual – 88%
- Esurance – 87%