In 2022, the average cost of auto insurance for a BMW 330i is $527 for the bare minimum of coverage and $2,270 for full coverage. The national average for insurance is $1,771, therefore the BMW 330i is normally more expensive. The make and model of your car is one of many variables that insurance companies take into account when calculating your rates.
The BMW 330i is a luxury vehicle with a base MSRP of $41,450, thus replacing it should it be totaled in an accident will cost the insurance company extra. The rate is also influenced by other factors, such as:
- Crash statistics by make and model: The 2020 BMW 3 series is a Top Safety Pick for a mid-size luxury sedan according to the Insurance Institute for Highway Safety (IIHS), which lowers insurance costs.
- Price of parts: The BMW 330i contains parts made in Germany, China, and Mexico, which raises the cost of replacing a part and pushes up insurance premiums.
- Air bags, safety alerts, an anti-theft system, and anti-lock brakes are all included as standard equipment on the BMW 330i, all of which improve safety ratings and may assist to moderately cut insurance premiums.
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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.
Is BMW auto insurance more expensive than Toyota car insurance?
A high-end import like a BMW would often cost more to cover than a Toyota, but that depends on the kind of auto insurance you have.
The cost of comprehensive coverage or collision insurance may be higher due to the cost of the vehicle and the anticipated cost of maintenance, even if you are simply purchasing the minimum required liability coverage.
Comparison shopping will help you lower your auto insurance costs regardless of the vehicle you choose. Using Jerry to accomplish this is the greatest option.
With Jerry, an insurance broker app, you can quickly compare prices from up to 50 leading suppliers. Jerry will handle all the paperwork necessary to get you insured once you’ve found a policy that suits your needs. What’s best? On average, Jerry customers save $879 on car insurance annually.
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.
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.
Why is insurance for BMWs so expensive?
A BMW is seen as a luxury vehicle, thus insurance will be more expensive. However, there are additional elements that can help to counteract that. Your insurance prices can be decreased by choosing to add a few of BMW’s optional safety features. The low theft rates for BMW are also to your advantage.
Your BMW’s insurance won’t be hard to get. This top-of-the-line car is covered by most, if not all, of the well-known insurance firms.
What’s Here
- For a BMW, the average annual insurance premium is $1,653 or roughly $138 per month.
- If you shop about and look for discounts, you may get BMW auto insurance for as little as $1,146 yearly or $44.34 per month.
- The overall cost of owning a BMW for five years is approximately $44,764. Don’t forget to include this in your budget.
High-end automobile producer Bavarian Motor Works, also known as BMW, is situated in Germany. You can anticipate paying more for BMW auto insurance than for other luxury brands. The rise in BMW insurance premiums is primarily due to high maintenance expenditures.
Read through our in-depth guide to get the best BMW SUV and sports vehicle insurance, then get ready to evaluate costs and features before making a purchase.
Enter your ZIP code into our above FREE quote comparison box to get started when you’re ready to compare rates for BMW auto insurance.
BMW or Audi insurance costs more?
Despite being comparably priced, owning a BMW 3 Series sedan actually costs more than an Audi A4 sedan by several thousand dollars. The BMW Sedan’s higher insurance costs make up for its slightly lower fuel economy and slightly higher repair expenses in terms of real cost of ownership.
An Audi A4 sedan will cost to insure for the first five years of ownership roughly $2,138 per month, or $11,464. A BMW 3 Series car will cost roughly $2,428 per month throughout that time, or an average of $12,580 over the course of five years. Remember that the rates fluctuate throughout the course of the five years, increasing somewhat yearly for both cars. The cost of maintenance and repairs is likely to rise over time, which will raise the risk of accidents as the vehicle matures and push rates up a little bit.
Each person will have a different actual insurance cost for each car. Numerous personal criteria, including as your age, marital status, employment, education, driving record, and credit score, will affect your particular rates. If you have a clean driving record, you can anticipate paying less than the comparative estimate, but if you’ve had a few fines or have a history of late payments on credit cards, your rates may go up. The automobile-specific information that determines the majority of the cost of car insurance is also based on your personal demographics, which account for a large portion of the premium expenses.
By utilizing the discounts that insurance providers provide, you can also lower the cost of premiums. Along with more than a dozen other factors, your career, how far you travel annually, and whether you keep your car in a private garage at night are all eligible for discounts. Additionally, you can enroll in a driver improvement course that is optional and get required insurance discounts for at least three years; in some areas, the discount is valid for five years.
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.
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 BMW or Audi more affordable to insure?
When compared to non-luxury models, Audis are more expensive to insure, but they are still reasonably priced when compared to other luxury automakers. While the typical cost of insurance for a Toyota or Honda is about $2,000 per year, the typical cost of insurance for an Audi is about $3,400 per year.
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, these cars typically cost $4,000 or more to insure annually.
In general, smaller, faster, and more costly cars are more expensive to insure. A smaller, faster vehicle is more likely to be in an accident. The cost of repairing an expensive car typically goes up, which raises insurance premiums. However, more expensive vehicles may include better safety equipment, including obstacle avoidance sensors, which could lower the risk of accidents and insurance costs.
Are repairs on BMWs expensive?
This German automaker has grown to become one of the most well-known automobile brands globally since 1916. Due to their extensive appeal, BMW’s range of high-end luxury vehicles is appreciated by everyone from regular drivers to celebrities and even the most well-known spy in the world. In fact, just between January 1 and October 1, 2021, the U.S. experienced 243,613 BMW sales!
BMW offers up to 16 different vehicle designs in total, ranging from the sporty BMW M series to the compact X1 series. BMWs will cost more to maintain and repair than other makes and models because they are luxury cars. BMW owners should budget upwards of $1,000 to $1,700 annually for maintenance and repairs.
Are Mercedes insurance premiums high?
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.
What does a BMW have high mileage?
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.
Therefore, you’ve reached the high mileage area if you’re looking at BMWs with between 60 and 80,000 miles on the odometer. Keep a watch on this because it demonstrates that there are high mileage BMWs available with vastly different mileage estimates.