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The average cost of BMW car insurance is $0 per year However, exact insurance costs for a BMW will vary depending on your location, driving history, specific model, and more
Insurance rates are incredibly unique for different drivers, different car models, and even different providers. The proud young owner of a 2020 BMW i8 will pay a lot more for their plug-in hybrid sports car’s insurance than a seasoned driver with a 2002 BMW 5 Series. Both, however, can find cheap car insurance for their BMW by following a few easy steps.
Step 1: Download the Jerry super app to quickly and easily compare quotes for your preferred level of coverage. As a licensed insurance broker, Jerry can find the most competitive rates from its wide network of top providers. But don’t just take it from us! Here’s everything you need to know about BMW car insurance costs, from the factors that affect them to finding the cheapest rates.
How much does BMW car insurance cost?
On average, the annual cost of car insurance coverage for a BMW vehicle is $0 Your specific insurance premium will vary depending on the model you drive, as well as factors like your location, driving history, preferred level of coverage, and more.
BMW is a luxury car brand so its auto insurance rates tend to be more expensive. Here’s why:
- Luxury cars carry a lot of value which makes them more expensive to replace in a total loss.
- The parts and technology in a luxury car tend to be higher quality and more expensive to repair.
- BMW’s lineup includes a lot of sports cars, performance vehicles, and coupes with higher levels of associated risk.
There are other factors that can help reduce the cost of your BMW’s car insurance. Older BMW models will typically cost less to insure because of their depreciated value. A BMW with a full suite of safety features could also cost less to insure because of its reduced risk.
Insurance companies also weigh these factors differently. That’s why you need to compare quotes from multiple providers to make sure you’ve found the best rate—Jerry can help! It only takes 45 seconds for Jerry to find competitive quotes for your unique BMW from its network of over 55 top car insurance providers. Compare policies in the app and skip hours of research in the process.
Check out these BMW insurance quotes for real Jerry customers to see how much you could be saving!
| Quote Date | Car | Before Jerry | After Jerry | Location | Zip Code | Name | Age | Insurance Company |
|---|---|---|---|---|---|---|---|---|
| March 16, 2023 | Bmw M4 | $300/mo. | $193/mo. | Canton, GA | 30114 | Roy F. | 25 | Progressive |
| March 11, 2023 | Bmw X3 3.0Si | $150/mo. | $145/mo. | New Wilmington, PA | 16142 | Jerome B. | 29 | Bristol West |
| March 11, 2023 | Bmw X5 Xdrive35I | $250/mo. | $219/mo. | Cumming, GA | 30040 | Virgie J. | 35 | Progressive |
| March 9, 2023 | Bmw 320 I | $355/mo. | $211/mo. | Corpus Christi, TX | 78408 | Angel A. | 23 | Progressive |
| March 3, 2023 | Bmw 128 I | $135/mo. | $85/mo. | Edgewater, FL | 32141 | Jonathan A. | 22 | National General |
How much insurance do you need for a BMW?
Let’s take a look at the two biggest factors that affect your insurance needs: where you live and the age of your car.
You need to meet your state’s minimum required car insurance to legally drive your BMW. Most states require liability coverage (both bodily injury liabilitycar insurance and property damage liabilityinsurance) to help pay for other drivers’ expenses if you ever cause an accident.
Some states require even more types of coverage, including the following:
- Uninsured/underinsured motorist coverage: Helps cover expenses if you’re involved in an accident caused by a driver who doesn’t carry enough liability coverage.
- Personal injury protection (PIP): A common requirement in no-fault states that helps cover medical expenses, rehabilitation, and funeral costs for you and your passengers.
- Medical payments (MedPay) coverage: Covers certain medical expenses for you and your passengers
Fulfilling your state’s insurance requirements is only step one to making sure your BMW is properly covered. Consider the age of your vehicle—that 2005 BMW 5 Series may be fine with liability coverage alone, but that 2020 BMW i8 deserves all the coverage you can afford. For newer and more expensive cars, consider a full-coverage insurance policy with collision and comprehensive coverage.
Collision and comprehensive protect your BMW against a variety of damages including accidents, natural disasters, crime, and more. Full coverage insurance is often required by your lender if you’ve financed your BMW, along with gap insurance to help pay any remaining balance on a car that’s been deemed a total loss.
BMW car insurance rates by model
The exact BMW model that you drive plays a major factor in determining the cost of your BMW insurance. Generally speaking, a tamer model with a cheaper price tag like the entry-level BMW X1 or 2 Series 230i will be less expensive to insure than pricier, high-performance models like a brand new BMW 7 series or M5.
Of course, there’s a lot more to it than just how much your car costs. Consider the average annual premium for some of BMW’s most popular models to see how your car affects your insurance rates.
How much does BMW X2 insurance cost?
The BMW X2 is another fan favorite, though you shouldn't expect rates as cheap as the X1 counterpart. With a higher selling point than the X1 (especially at higher trim levels), the X2 will be a little costlier to insure. However, great IIHS safety ratings and safety technology keep the insurance rates relatively affordable for a BMW.
Check the table below to see how average premiums for a X2 differ based on its age and your coverage preferences.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2022 Bmw X2 Xdrive28I | $4,436 | $1,673 |
| 2021 Bmw X2 Xdrive28I | $2,242 | $1,317 |
| 2020 Bmw X2 Xdrive28I | $2,666 | $2,048 |
| 2019 Bmw X2 Xdrive28I | $2,804 | $1,406 |
| 2018 Bmw X2 Xdrive28I | $2,505 | $1,431 |
Check out our comprehensive guide to BMW X2 car insurance costs to learn more!
How much does BMW i3 insurance cost?
If insurance isn’t the only car expense you’re concerned about, then the BMW i3 may be able to help you save on fuel with its all-electric powertrain. It’s not the most impressive EV, but unlike insurance for other green cars, its rates remain relatively tame. The BMW i3 is typically cheaper to insure than the 3 Series, putting it on the lower end of the spectrum.
Check out these comparisons of average annual premiums for different i3 policies.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2022 Bmw I3 Bev | $4,436 | $1,673 |
| 2021 Bmw I3 Bev | $2,242 | $1,317 |
| 2020 Bmw I3 Bev | $2,666 | $2,048 |
| 2019 Bmw I3 Bev | $2,804 | $1,406 |
| 2018 Bmw I3 Bev | $2,505 | $1,431 |
Check out our comprehensive guide to the BMW i3 insurance costs to learn more!
How much does BMW Z4 insurance cost?
BMW's entry-level vehicles are sure to be a bit more affordable to insure, but some of their pricier models will see higher rates—such as the Z4 models. Higher trim levels of the Z4 will offer admirable performance with a perfect blend of luxury and practicality, though insurance rates will surely be higher due to increased base vehicle price and repair costs.
Insurance for a BMW Z4 is already above average—and you could pay even more depending on your age and driving record.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2022 Bmw Z4 Sdrive30I | $4,436 | $1,673 |
| 2021 Bmw Z4 Sdrive30I | $2,242 | $1,317 |
| 2020 Bmw Z4 Sdrive30I | $2,666 | $2,048 |
| 2019 Bmw Z4 Sdrive30I | $2,804 | $1,406 |
| 2018 Bmw Z4 Sdrive30I | $2,505 | $1,431 |
Check out our comprehensive guide to the BMW Z4 car insurance costs to learn more!
How much does BMW i8 insurance cost?
The only BMW more expensive to insure than its most expensive gas-powered sedan? Its most expensive electric-powered coupe—the BMW i8. Though discontinued in 2020, the BMW i8 tends to be the most expensive BMW to insure—a prime example of how an electric powertrain, sports car design, and a high price tag can drive up insurance rates.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2022 Bmw I8 | $4,436 | $1,673 |
| 2021 Bmw I8 | $2,242 | $1,317 |
| 2020 Bmw I8 | $2,666 | $2,048 |
| 2019 Bmw I8 | $2,804 | $1,406 |
| 2018 Bmw I8 | $2,505 | $1,431 |
Check out our comprehensive guide to the BMW i8 insurance costs to learn more!
MORE: Car loans for BMW 2022
Compare BMW car insurance quotes
Researching average annual insurance costs for different BMWs is one thing, but finding actual quotes for your specific model and the driver profile is the only way to know your real options.
Luckily, the Jerry app makes finding customized car insurance quotes easier than ever. It takes less than a minute for Jerry to source the most competitive quotes from the top insurance companies for BMW owners. Jerry’s licensed insurance experts are only a text away to answer your questions and help you choose the best insurance policy for your BMW.
Best car insurance companies for your BMW
GEICO, Erie, and State Farm tend to offer competitive rates for BMW insurance—but they don’t necessarily offer the best rate for you.
Even the BMW Premier Motor Insurance you’ll be offered at the dealership isn’t the guaranteed lowest rate around. Every auto insurance company takes your personal demographics and driving history into account to determine your BMW insurance premium. While one company may show favor for your BMW’s safety features, a different company may offer more discounts that could get you a lower rate.
That’s why it’s important to compare rates from multiple insurance companies to find the cheapest premium for your BMW. Use Jerry to compare competitive free quotes for BMW car insurance from a network of over 55 top insurance providers and counting.
Compare average quotes for BMW insurance from different providers—and how much you could save with Jerry!
| Insurance Company | Average Cost | Annual Savings with Jerry | |
|---|---|---|---|
| Kemper | $3,250 | $1,343 | |
| National General | $3,384 | $1,278 | |
| Dairyland | $3,357 | $1,130 | |
| Safeco | $3,336 | $1,126 | |
| Clearcover | $3,110 | $1,025 | |
| Progressive | $3,220 | $1,010 | |
| Allstate | $3,295 | $999 | |
| State Auto | $2,943 | $960 | |
| Nationwide | $2,937 | $907 | |
| Travelers | $3,079 | $833 | |
| Compare Prices | |||
BMW auto insurance cost by driving record
No matter what model you drive or what your personal demographics are, your driving record can make or break your access to affordable BMW car insurance.
It’s pretty basic: keep a clean record to pay less for insurance. Violations on your driving record spell major risk to an insurance provider. A DUI conviction can raise your BMW insurance rates by $0 per year. Even a speeding ticket could result in an increase of $1,974 per year on car insurance!
The table below shows you just how much you could save on BMW insurance with a clean driving record.
BMW car insurance cost by location
Where you live and drive will play a final role in your insurance offer. Local factors like crime rate, population density, and traffic volume all impact your risk exposure, and your insurance rates as a result. Basically, a BMW driver in small-town Maine is likely to pay a lot less for car insurance than a driver in a busy metropolitan area like Chicago or New York City.
Take a look at the table below to compare state averages for auto insurance.
| City | Average Cost | Annual Savings with Jerry | |
|---|---|---|---|
| Atlanta | $3,142 | $1,060 | |
| Austin | $2,712 | $700 | |
| Brooklyn | $4,585 | $1,034 | |
| Dallas | $3,153 | $1,152 | |
| Houston | $3,290 | $1,171 | |
| Los Angeles | $3,169 | $965 | |
| Miami | $3,285 | $987 | |
| Philadelphia | $4,464 | $1,446 | |
| Phoenix | $2,869 | $804 | |
| San Antonio | $3,174 | $1,168 | |
| Compare Prices | |||
By R.E. Fulton
Updated on Mar 21, 2023
Reviewed by Kathleen Flear, Director of Content.
