BMW vehicles stand out from the competition because they are high-end, high-performance options without the exorbitant price tags of cars by manufacturers like Rolls-Royce, Bentley, and Aston Martin. In other words, these are the kinds of vehicles that the majority of regular people can afford. Although they are not very inexpensive, they are also not outrageously expensive to insure. This is mostly due to the fact that their rather hefty price tags are offset by greater safety attributes, high safety ratings, and comparatively low theft rates. The average cost of insurance for one of these cars is $1,966.82 per year, and BMW cars are placed 30th out of 36 in terms of insurance prices, so if you’re considering buying one, be aware of that.
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If you’re wondering how much BMW insurance costs, you should be aware that they can be quite pricey. However, knowing the average cost of BMW insurance and which BMW model is the least expensive to insure beforehand will undoubtedly help you make a better and more informed choice when comparing auto insurance quotes for it.
According to our study, the average annual premium for BMW vehicle insurance is $2150, or around $180 per month. That’s still more than twice what the average national vehicle insurance premiums are, even if prices vary depending on a variety of criteria, including the model.
Our thorough investigation into the average monthly cost of auto insurance revealed that, for drivers under the age of 30, a 2017 BMW costs $292 per month or $3,500 year to insure. It costs, on average, $3,650 a year or $304 per month for model year 2019. Top insurance rates for the 2020 and 2021 BMW 7 Series could reach over $5,000 per year, or $417 per month, while rates for the BMW X Series and BMW 2 Series could be as low as $1,850 per year, or $158 per month. Although there is a lot to take in, doing so will make you a better informed insurance buyer.
Costs always fluctuate depending on a wide range of criteria, just like with other insurance products. Vehicle models have vastly different rates.
What Does BMW Insurance Cost? Model Comparison Quotations
In comparison to other makes and brands, a BMW costs more to insure each year, at an average of $1,780. Nevertheless, the exact BMW model you own can still affect your vehicle insurance costs. MoneyGeek looked at all BMW vehicles by model year and driver age to find various pricing choices for individual drivers.
Depending on the model, the typical cost of insurance for a BMW can differ significantly. For instance, a BMW i8 is the most costly vehicle to insure, costing an average of $2,810 yearly, while a BMW 1 Series is the least expensive.
MoneyGeek dissected expenses for each of BMW’s significant models in order to assist you in locating the most affordable businesses and average rates for your BMW.
Auto Insurance Rate Comparison
Make sure your auto insurance is priced as affordably as possible. Compare the best quotations
It pays to shop around for the best auto insurance for your BMW 3 Series. Even for the identical car, each company will provide a different insurance price. You can find the best price by comparing BMW 3 Series insurance rates from different providers.
The annual average cost of insurance for a BMW 3 Series is $1,560; this is $133 more expensive than the annual average for all automobile models, which is $1,427.
The annual cost of BMW 3 Series insurance might vary by $698 depending on your insurance company.
Depending on the model, the annual rate for a BMW 3 Series might vary by $387. Older vehicles typically have lower insurance costs.
Find your model to view the typical rates for BMW auto insurance over the years.
We obtained rates for BMW auto insurance from reputable insurance providers and discovered that the average monthly premium for a BMW can range from $171.85 to $406.44, or between $2,052 and $4,884 annually. However, your real cost will vary based on the car’s model as well as your age, driving history, how many miles you travel annually, where you live, and other elements.
Is insurance for a BMW 3 Series expensive?
However, compared to comparable high-end luxury automobiles from brands like Lexus, Mercedes, and BMW, Audis are significantly less expensive to insure. Depending on the model, the average cost of insurance for these vehicles is frequently $4,000 or more per year.
Why is insurance for a BMW so expensive?
Expect to spend more for insurance if you are covering a luxury vehicle than you would for a regular vehicle. Insurance prices are greater for luxury cars because they are often more expensive than basic vehicles.
Is BMW or Audi more affordable to insure?
How much does insurance for a BMW cost? The price of a BMW goes beyond its higher-than-average MSRP. BMW car insurance runs $1,788 a year, or 25% more than insurance for a regular vehicle. You should exercise caution when looking for a policy because BMW insurance is more expensive than the average.
Are Mercedes insurance premiums high?
Your vehicle’s price is a significant determinant in how much it will cost to insure. The likelihood of theft, the price of maintenance, the size of the engine, and the car’s overall safety record are further considerations. Automobiles with superior safety features may be eligible for premium discounts.
Is a BMW’s insurance expensive?
The average cost of insurance for one of these vehicles is $1,966.82 per year, while BMW vehicles are regarded as the most expensive.
Why is insurance for Audi more expensive than BMW?
In summary, you can take your BMW to whichever mechanic you choose for maintenance and oil changes. There is a little more to it than that, but overall, you are under no obligation to return to the BMW dealer if you choose not to.
Are premiums for insurance higher for luxurious vehicles?
The cost of car insurance for the BMW 3 Series is rather high. The annual average cost of insurance for a BMW 3 Series is $1,560. Other car models only have an annual insurance cost of $1,427. However, compared to the typical price for luxury models like Tesla, insurance for a BMW 3 Series is considerably more inexpensive.
Is premium fuel required for a BMW?
Because they are premium vehicles with higher sticker values, Audi cars do tend to cost more to insure than the ordinary vehicle. This means that if you have an accident, they might cost more to fix or replace, which would raise your insurance costs.
The BMW: a dependable vehicle?
As a producer of high-end automobiles, BMW models can be pricey to insure. This is due to the fact that costlier cars typically cost more to maintain and repair.
A money pit, BMW?
No matter what model you have, BMW advises only using premium unleaded fuel. That’s not to say that your BMW won’t run on inferior fuel, but premium unleaded fuel will keep its quality over time, allowing you to constantly drive at peak performance.
Does BMW require maintenance?
Statistics show that younger, riskier drivers tend to drive smaller, sportier automobiles at higher speeds. They cost more to insure since they are more likely to be in accidents. According to that logic, it makes sense that larger cars, like SUVs, would cost less to insure.
What are some typical BMW issues?
Numerous owners who are dissatisfied with the expense of repairs claim that parts are breaking and wearing out considerably more quickly than they used to as a result of the short cuts BMW takes. That makes them the ultimate money pit, as repairmen refer to them, because you have to patch one thing, and then something else breaks soon after.
Why is insurance for sporty cars more expensive?
Rating for Mercedes Reliability The average Mercedes-Benz Reliability Rating is a 3 out of 5, which is neither the greatest nor the worst. A Mercedes-Benz has typical ownership expenses with an average yearly repair cost of roughly $900 against $652 for all other models.
What does a BMW have high mileage?
The bad news is that Mercedes-Benz auto insurance is more expensive than the national average. The good news is that you can get a fantastic bargain by looking around. A Mercedes-Benz’s typical annual auto insurance cost is $2,639 ($219/month). The brand is now the fourth-most expensive to insure among automakers.
How many miles is a BMW good for?
What kind of mileage does a BMW have to have? Although the average BMW can travel between 100,000 and 250,000 miles, excessive mileage is actually regarded as being a little less than this. Most dealers won’t carry BMWs with mileage over 100,000, and some even think 60-80,000 is a high mileage range for these vehicles.
Which vehicle requires the most maintenance?
Fortunately, ratings of BMW dependability from several organizations support that excellent reputation: Customer Reports Every BMW in the lineup received a score above average in the 2020 rankings. The i3 electric car and the X6 midsize SUV are BMW’s most reliable models, and the brand as a whole is ranked seventh.
How trustworthy is Mercedes?
For basic vehicle insurance, a Maserati’s average annual insurance price is $1,687, while for full coverage, it is $3,800. The average insurance rate in the US is $2,302 for full coverage and $1,631 for minimal coverage when all automobile makes are taken into account.
Do you classify a BMW 3 series as a sports car?
With the right care, almost any BMW has the ability to last up to 200,000 or even 250,000 miles, and there will always be outliers that go even longer. It’s simple to get off to a good start because every new BMW comes with free factory-recommended maintenance through BMW Ultimate Care.