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.
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.
How Much a BMW 4 Series Costs to Insure and Which Insurance Provider Is the Best
Your auto insurance costs may vary depending on the insurer you select. An auto insurance plan for a BMW 4 Series typically costs $1,769 per year. The least expensive auto insurance provider, Progressive, charges $1,619 year on average for insurance for this vehicle. The average price difference for a BMW4 Series between the cheapest and most costly insurers, Allstate, is $683. Additionally, USAA gives military families the most affordable prices at about $1,396 a year.
MoneyGeek gathered thousands of insurance quotes for a BMW 4 Series for a 40-year-old driver who carries 100/300/100 liability insurance with comprehensive and collision coverage for all BMW 4 Series model years that were available.
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 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.
Is insurance for a BMW 3 Series expensive?
According to our study, the average annual premium for BMW vehicle insurance is $2150, or around $180 per month. While prices vary based on numerous factors
Is BMW or Audi more affordable to insure?
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.
How much does a BMW 328i’s insurance cost?
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.
How much will a BMW increase my insurance costs?
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.
What causes a car’s insurance costs to increase?
The Maserati Quattroporte will cost an astounding $5,024 in insurance annually, or an average of $419 per month, making it the most expensive car to insure in 2021. That is 239% more than the average national auto insurance price.
Are BMWs trustworthy?
But how many miles do BMW cars typically last? With good 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 last even longer.
Are premiums for insurance higher for luxurious vehicles?
The cheapest BMW to insure is the 328i, which has an annual insurance cost of $1,800 or $150 per month.
Why are used BMWs so inexpensive?
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 type of auto insurance is the most expensive?
Which automakers’ maintenance costs are the highest? Based on projections of total vehicle maintenance over a ten-year period, BMW leads the list as the priciest automobile brand to maintain, followed by Mercedes-Benz.
A money pit, BMW?
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.
Mercedes or BMW, which is more dependable?
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.
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.
What does a BMW have high mileage?
The oversupply of BMWs on the used market is one factor contributing to their low price. Similar to any other product, cars are a product, and their prices decline when there is a surplus and little demand.
How many miles is a BMW good for?
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.
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.
The BMW 3 Series: Is it a sporty vehicle?
Mercedes-Benz vs. BMW: Dependability According to the J.D. Power 2021 Vehicle Dependability Study, the most recognizable brands in the world’s 2018 models were evaluated for the number of issues per 100 vehicles. With a score of 108 problems, BMW placed 11th. With 122, Mercedes-Benz was ranked 15th.
Which luxury vehicle requires the least maintenance?
- Engine Cooling Unit. Overheating is a problem that many BMW owners frequently experience.
- Oil Spills.
- Under Braking, the steering wheel vibrates.
- Tail Lamp Unit
How trustworthy is Mercedes?
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-typical Benz’s annual auto insurance cost is $2,639 ($219/month). The brand is now the fourth-most expensive to insure among automakers.