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.
In This Article...
Average Cost of BMW Insurance – Summary by Model
Depending on the model, a BMW’s average insurance cost varies. The 10 most popular BMW models’ average prices are listed here, from least to most expensive.
- 1 Series BMW: $1,255 annually
- BMW X3: $1,274 annually.
- BMW X5: $1,424 annually.
- BMW 5 Series costs $1,502 annually.
- BMW 3 Series costs $1,560 annually.
- BMW i3 yearly cost: $1,673
- $1,769 annually for a BMW 4 Series
- $1,937 per year for a BMW 7 Series
- X7 BMW: $2,030 annually
- i8 BMW: $2,810 annually
Each model has a distinct set of characteristics and is offered at a particular price range. For instance, the cost of insurance is higher for vehicles with high manufacturer’s suggested retail prices (MSRP) or horsepower due to the higher risk of theft. Costly repairs may also result in high insurance rates.
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.
BMW insurance
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.
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.
An annual average of $2,987 is spent on auto insurance for BMW models.
This compares poorly to other luxury brands by $762. Our car insurance comparison studies make the assumption that the driver is a responsible 40-year-old with full coverage, decent credit, and annual mileage of about 13,000 miles. They also disregard any multi-car discounts and assume a single-car insurance on a brand-new automobile. The actual rates can be affected by a variety of factors. These factors include the car, the driver’s history, the location, the mileage, the age, the credit score, and more. A chart outlining some of these changes may be found below. The tables below demonstrate how these elements affect the cost of BMW insurance.
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For the same coverage, BMW insurance premiums will vary greatly amongst carriers.
Get new quotes if you’ve been with your current insurance provider for more than a few years to be sure you’re not overpaying.
To get free quotations to reduce your insurance expenses, use the form below or our Competitive Quote Tool.
How much does a BMW 5 Series insurance policy cost?
When shopping for auto insurance for your BMW 5 Series, it is advantageous to shop about and compare quotes to make sure you get the best deals. Different insurers may charge you differently depending on your model year and driving history.
Insuring a BMW 5 Series typically costs $1,502 a year, which is $75 more than the national average.
Depending on the provider, the cost of BMW 5 Series insurance might vary by as much as $731 annually.
Depending on the age of your vehicle, the cost of insurance for a BMW 5 Series can vary by as much as $718 annually, with older vehicles often having lower insurance costs.
Are insurance premiums for vintage BMW high?
Like anything else in life, protecting a costly item costs additional money. According to numerous surveys, a BMW car insurance policy can run as much as $1,900 year. Of course, the price of BMW insurance varies greatly depending on the model and its MSRP.
A top-of-the-line 2020 BMW 7 Series may cost up to $5,000 in insurance yearly, compared to as little as $1,900 for a 2020 BMW X1 or a BMW 2 Series.
The prices are undoubtedly lower if you’re looking for BMW auto insurance for a used vehicle. According to our study, older BMW models up to 10 years old can be insured for between $100 and $140 a month.
In our situation, we lease a 2019 BMW i3 Range Extender, and the annual price for BMW auto insurance totals $1,400 when combined with the homeowners insurance and another vehicle on the plan. Given the i3’s starting price and all the technology it uses, this is a wonderful deal.
Your results may vary, but for us, this was the best-case scenario: no moving infractions in the previous ten years, no significant claims, and 10,000 miles driven year on average.
We also examined a few BMW M vehicles. For instance, the annual cost for a 2021 BMW M4 Coupe with simply auto insurance and a spotless record was $1,500. However, this was the ideal circumstance.
How much does a BMW 330i’s insurance cost?
The cheapest BMW to insure is the 328i, which has an annual insurance cost of $1,800 or $150 per month.
Maine offers the cheapest insurance rates for a BMW 328i, averaging less than $100 per month or just under $1200 per year.
On the other hand, with an average insurance cost of $3,400 a year, or $280 per month, Georgia is the most costly state to insure your BMW 328i.
The cost of insurance for a 2007 BMW 328i for a 30-year-old male driver with a spotless driving record, who served in the military, and who owns a home will be roughly $85 per month or $1,000 per year.
The average insurance cost for a 2011 BMW 328i is $125 per month or $1,500 annually.
The average monthly insurance cost for a 2013 BMW 328i is $130, or $1,550 annually.
How much does a BMW 335i cost to insure?
How much do BMW 335i auto insurance premiums cost? To evaluate how insurance costs compare to those of other small luxury cars, we compare average rates for the 335i sedan.
- The average annual cost of insurance for a BMW 335i is $1,564, or roughly $130 per month, however this amount can vary greatly depending on the driver’s region and age.
- Comparing the BMW 335i to other small luxury cars, the cost of insurance is $149 more annually, making it one of the more expensive options.
Is insurance for a BMW 3 Series expensive?
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. The typical cost of insurance for luxury manufacturers like Tesla is considerably higher than that for a BMW 3 Series.
Is insurance for a BMW 328i expensive?
The typical annual insurance premium for a BMW 328i is $1,448; this equates to $121 each month. BMW 328i insurance premiums should be about $21 less annually than the average for small luxury automobiles and $119 less annually than the $1,567 national average.
The bar graph that follows shows how the typical auto insurance prices for a 2016 BMW 328i change depending on the ages of the drivers and the policy deductibles.
Chart Information: The graph displays the average insurance cost for a 2016 BMW 328i after applying safe driver and claim-free discounts. All U.S. states and all BMW 328i trim levels were averaged for the rates for full-coverage insurance. Information last changed on August 30, 2022.
The information below shows the typical annual premiums for a BMW 328i for the model years 2013 to 2016.
Average rates presumptively have a spotless driving record and no accidents for which they were at fault. Rates are averaged across all states in the US, and physical damage deductibles for full coverage are $500. Information last changed on August 30, 2022.
BMWs cost a lot to maintain?
BMWs are by far the most expensive car manufacturer to repair, claims Your Mechanic. The competition is not even close. With an average maintenance cost of $17,800 over ten years, BMW comes in #1. Mercedes-Benz came in second with an average maintenance cost of $12,900 during a 10-year period. In contrast, the typical Toyota only cost $5,500 to maintain during a 10-year period because they are recognized for requiring less maintenance.
According to Your Mechanic, such high maintenance costs are usual in German premium vehicles. Audi comes in sixth with an average $12,400 maintenance expense over a 10-year period. This is primarily a result of the pricey, high-end parts that these luxury vehicles require. Naturally, it will cost a lot of money to fix those pieces when they break or need maintenance.
However, while being premium vehicles, they also have ongoing problems. For instance, according to Your Mechanic, a BMW is four times more likely to not start than a typical automobile. It was ranked seventh overall as a result. Additionally, the window regulator on the BMW required replacement 18 times more frequently than the window regulator on the ordinary car.