How Much Is BMW Insurance by Model?
Discover how much you can expect to pay to insure your BMW this year.
Written by
Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
BMW drivers enjoy a blend of luxury and performance and are often loyal to the brand. Whether you have a classic BMW or a brand-new model right off the showroom floor, understanding your auto insurance options and getting the best possible rate will help you protect your investment.
With the average annual cost of car insurance nationwide being $1,311, some BMW models, such as a BMW 1 Series, actually fall below this average, costing only about $1,255 to insure per year. However, other models will have you paying well above the national average for car insurance each year.
An independent insurance agent can help you get set up with the right kind of car insurance for your specific BMW and your needs. They'll make sure you walk away with the right policy for you. But for starters, here's a deep dive into BMW insurance.
In This Article:
How Much Does a BMW Cost to Insure by Model?
Is Every Model of BMW Expensive to Insure?
Why Do Insurance Costs Differ between BMWs?
How Much Is Car Insurance for a BMW 1 Series?
How Much Is Car Insurance for a BMW X3?
How Much Is Car Insurance for a BMW i3?
How Much Is Car Insurance for a BMW 7 Series?
How Much Is Car Insurance for a BMW i8?
What Other Factors Affect BMW Insurance Costs?
How to Save the Most Money on BMW Insurance
How Much Does a BMW Cost to Insure by Model?
Car insurance costs are impacted by many different factors, including the vehicle's specific make and model. The same driver could pay a vastly different amount to insure two different models of BMW. We've compared average insurance rates for just a handful of popular BMW models to give you a better idea.
| BMW Model | Average Cost of Car Insurance Per Year |
|---|---|
| BMW 1 Series | $1,255 |
| BMW X3 | $1,274 |
| BMW i3 | $1,673 |
| BMW 7 Series | $1,937 |
| BMW i8 | $2,810 |
No matter which model of BMW you drive, an independent insurance agent in your town can help you find the best possible price for car insurance.
Is Every Model of BMW Expensive to Insure?
As you can see, the price of car insurance varies depending on the specific model of BMW in question. In general, BMWs are considered expensive to insure, but this isn't always the case.
Trusted Choice evaluated five of the most popular BMW models, each from different price points in terms of car insurance, to paint a better picture of just how far the range in premiums extends. We found that the BMW Series 1 tends to be very affordable to insure, while the BMW i8 is extremely expensive to insure. Other models fall somewhere in between.
Why Do Insurance Costs Differ Between BMWs?
Insurance pricing is primarily determined by expected risk. Models of BMWs that are less likely to be stolen or involved in a crash due to lower horsepower are seen by car insurance companies as less risky. As a result, insurance premiums for these models can be lower. The BMW 1 Series falls into this category.
The flip side is that models with a higher risk of getting stolen due to their higher value or desirability, such as the BMW i8, must come with much higher insurance premiums. Higher-end models like this also have higher horsepower and are, therefore, more likely to be involved in collisions.
How Much Is Car Insurance for a BMW 1 Series?
Our research found that the cheapest model of BMW to insure is the BMW 1 Series, with an average premium rate of just $1,255 per year. Take a look at some average insurance costs for this model from top-rated insurance carriers.
| Insurance Companies | Average Annual Cost |
|---|---|
| USAA | $1,065 |
| Nationwide | $1,303 |
| Progressive | $1,390 |
| Allstate | $1,390 |
How Much Is Car Insurance for a BMW X3?
The BMW X3 costs slightly more to insure than the BMW 1 Series, with an average premium rate of $1,274 per year. For many drivers, it's still a highly affordable vehicle to insure.
| Insurance Companies | Average Annual Cost |
|---|---|
| USAA | $1,126 |
| Nationwide | $1,345 |
| Progressive | $1,146 |
| Allstate | $1,527 |
How Much Is Car Insurance for a BMW i3?
The BMW i3 falls basically in the middle of the pack for insurance rates, with an average annual premium of $1,673. It's the first model on our list to exceed the overall nationwide average annual car insurance premium of $1,311 per year.
| Insurance Companies | Average Annual Cost |
|---|---|
| USAA | $1,272 |
| Nationwide | $1,387 |
| Progressive | $1,849 |
| Allstate | $2,404 |
How Much Is Car Insurance for a BMW 7 Series?
The BMW 7 Series is closer to the top of the pack when it comes to car insurance rates. At an average of $1,937 per year, a BMW 7 Series model will cost you quite a bit more in terms of coverage.
| Insurance Companies | Average Annual Cost |
|---|---|
| USAA | $1,656 |
| Nationwide | $1,677 |
| Progressive | $1,585 |
| Allstate | $2,509 |
How Much Is Car Insurance for a BMW i8?
The BMW i8 tops our list, by far, in terms of the most expensive car insurance rates. With average annual premiums of $2,810, you'll certainly need to factor coverage costs into your budget if you purchase this model. Still, coverage from some carriers is more affordable than others.
| Insurance Companies | Average Annual Cost |
|---|---|
| USAA | $3,459 |
| Nationwide | $2,667 |
| Progressive | $1,750 |
| Allstate | $3,941 |
What Other Factors Affect BMW Insurance Costs?
Car insurance costs are calculated by considering several factors. The vehicle's make and model are just two items from a long list, which includes:
- The driver's age
- The driver's location
- The driver's record and accident history
- The driver's credit score
The insurance company you get your coverage through also obviously impacts the cost of your coverage. You can stand to save a great deal on coverage for your BMW if you bundle your car insurance with another product, such as home insurance, through the same carrier. An independent insurance agent can also help you find the best rates available.
Methodology
To compare average prices for BMW insurance by model, Trusted Choice evaluated average car insurance quotes for each model as if the driver were a 40-year-old male in need of "full coverage," meaning an auto insurance policy that includes the following:
- Bodily injury liability coverage of $100,000 per person and $300,000 per accident
- Property damage liability coverage of $100,000 per accident
- Comprehensive coverage with a $1,000 deductible
- Collision coverage with a $1,000 deductible
Depending on your location, quotes for coverage may vary. Ask a local independent insurance agent to help you find specific BMW insurance quotes in your area.
FAQs about BMW Insurance
Based on our findings, the cheapest model of BMW to insure is the BMW 1 Series, at an average of $1,255 per year.
Based on our findings, the most expensive model of BMW to insure is the BMW i8, at an average of $2,810 per year.
It costs an average of $1,780 annually to insure a BMW. This is quite a bit higher than the average annual car insurance cost of $1,311.
How to Save the Most Money on BMW Insurance
Working together with an independent insurance agent can be your best bet for saving the most money possible on BMW insurance. An independent insurance agent can shop and compare policies from many different local carriers for you. Even better, they'll help you score any discounts you're eligible for to bring those rates down even further.
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