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.
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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.
Do BMWs Cost a Lot to Insure?
Although the average cost of insurance for BMWs is high, some models have lower typical costs than others. Your car’s average insurance premium will depend more on its model than its brand. According to a MoneyGeek analysis of 10 popular BMW models, the BMW X5 and 1 Series are the least expensive to insure, while the others have high insurance premiums.
The BMW 1 Series is the least expensive model in the BMW lineup to insure, costing an average of $1,255 a year, due to its low value and horsepower when compared to other BMWs. Low horsepower means that drivers are less likely to crash, and low value models are less likely to be stolen. The resultant combination lowers premiums.
The BMW i8, on the other hand, has premiums that are the most expensive, at $2,810 annually. This is due to the fact that it is a high-value premium sports automobile, making it more prone to be stolen than other BMW models.
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.
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.
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.
Is insurance for a BMW expensive?
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.
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 328i’s insurance cost?
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.
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.
How much does a BMW i8 cost to insure?
You should browse around and compare costs to get the greatest deals on BMW i8 insurance. For the same car, different companies offer varying rates. Depending on the model year or your driving history, a different carrier might offer better service.
A typical BMW i8 insurance quote is $2,810 annually, vs $1,428 for the typical automobile type.
Depending on the provider, the cost of BMW i8 insurance might vary by as much as $2,192 annually.
Depending on the model year, BMW i8 insurance costs can vary by up to $562. Older vehicles typically cost less to insure.
How much does a 2022 BMW X3’s insurance cost?
The average cost of auto insurance for a BMW X3 is $187.73 per month, or more than $2,250 annually, according to our analysis of quotes from the best insurance providers. Your real charges, however, will vary according on your driving history, car model and year, ZIP code, and many considerations. Additionally, depending on the safety features your car has and the insurer you choose, some older models may be less expensive to insure than others.
Is a BMW expensive to repair?
Remove the Band-Aid now. Every 10,000 miles, BMW owners may anticipate paying between $150 and $400 per service. A significant service may cost up to $3,000 or more. In the end, owners spend more on maintenance and repairs than most brands, between $1,000 and $1,700 annually.
You may always purchase an extended warranty, either directly from BMW or through a third-party service contract, if you’re concerned about future ownership costs. Standard BMW maintenance expenditures are not covered by a car warranty, but it will cover pricey items that are more prone to break over time.
We’ve combed the market and selected a handful of the top third-party extended vehicle warranty companies because there are many possibilities for extended coverage. These are businesses who did well in regards to things like price, standing, and customer support.
To help you reduce your out-of-pocket vehicle ownership costs, compare the best BMW extended warranty packages above.