Cheapest Bmw Car Insurance (Dec 2023)

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Best car insurance companies for BMW drivers

Determining the “best” insurance provider for BMW drivers isn’t a one-size-fits-all scenario. When

, remember that finding your ideal company relies on several key factors such as your driving record, insurance history, geographical location, age, and the specific model of BMW you own.

To make the decision easier, Jerry surveyed over 16,000 drivers to gauge their satisfaction with different insurers. The table below presents BMW owner ratings for cost, claims handling, and customer service across several insurance providers.

Insurance Company	Overall Rating	Price	Claims Experience	Customer Service
Safeco	4.6	4.4	4	4.5
Travelers	4.5	4.2	4.4	4.5
Progressive	4.3	3.9	3.9	4.3
AAA	4.2	4	3.8	4.4
Allstate	4.2	3.6	3.8	4.2
USAA	4	3.5	4.5	4.2
State Farm	4	3.4	3.8	4.2
Farmers	4	3.4	4.1	3.9
Geico	3.9	3.3	3.9	4
Liberty Mutual	3.7	3.2	3.5	3.7

How'd we get these scores?
Jerry's experts conducted one of the largest car insurance surveys in the United States. We surveyed 15,000 policyholders, in all 50 states, over the span of 18 months. These policyholders hold insurance policies with 87 different insurance companies. We surveyed policyholders to gauge their satisfaction with their insurance carriers in: policy cost, customer service, buying and renewal experience, as well as claim experience. These scores were all reported by real customers of the insurance companies.

Insurance costs for popular BMW models

The specific type of BMW model you drive can have a dramatic effect on your auto insurance costs. Primary factors that affect your insurance rate are:

Safety features: Car models with superior safety ratings, like the BMW X3 and the BMW 5 Series, often have lower insurance costs.

Vehicle value: High-value cars cost more to insure, so high-performance models like the BMW X3 M have higher insurance costs than a lower-trim BMW 3 Series.

Vehicle class: Compact SUVs like the X1 and X2 are typically the least expensive to insure, while sports cars, large sedans, and electric or hybrid vehicles usually cost more.

Replacement parts availability: If you drive a less common BMW model—such as the limited-edition 2023 BMW 3.0 CSL—or simply one that's difficult to find parts for, like a hybrid, electric, or older model, your insurance premiums may be higher.

Repairs costs: BMW’s premium models, hybrids, and electric lineup require more expensive repairs compared to popular models like the 3 Series or standard X-series models, leading to higher insurance rates.

Engine power: Vehicles equipped with larger engines and higher horsepower, such as the M5 with its 600-horsepower V8 engine, are often associated with an elevated risk of speeding and accidents, typically resulting in higher insurance costs.

Car	Average State Minimum Insurance Cost	Average Full Coverage Insurance Cost
Bmw --	$103	$208
Bmw --	$96	$181
Bmw --	$97	$192
Bmw --	$84	$200
Bmw --	$101	$212
Bmw --	$103	$224
Bmw --	$114	$217

Minimum coverage insurance

—meaning the minimum insurance requirement to legally drive in your state—typically includes

basic liability insurance

, which provides coverage for bodily injury and property damage liability.

In contrast,

full-coverage insurance

includes

collision

and

comprehensive coverage

, providing financial resources for you, your car, and other parties involved in an accident.

If you have a car loan or lease a BMW, it's worth considering

gap insurance

in addition to basic liability coverage. It bridges the gap between the vehicle's value and the remaining loan or lease balance, offering financial protection in case of a total loss. Some lenders or dealerships may require gap insurance for vehicle financing or leasing.

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| Verified Jerry Customer

Lower my car insurance too!

BMW 3 Series insurance costs

The BMW 3 Series is one of the most popular luxury sports sedans in the world, recognized for its stunning performance and unparalleled sophistication. On average BMW 3 Series insurance costs $103 per month for state-minimum coverage and $205 for full coverage.

Your BMW insurance cost will vary based on the model or trim level. For the 2023 iteration, the BMW 3 Series Sedan offers four configurations: the 330i, 330e, M340i, and the M3.

330i: Starting at $43,800, the 2023 BMW 330i features a 2.0-liter twin-turbocharged I-4, 255-hp engine. This model showcases an 8-speed sport automatic transmission, steering wheel-mounted paddle shifters, and an array of both standard and advanced BMW safety features. It can spring from 0 to 60 mph in a brisk 5.6 seconds.

330e: Priced from $44,900, the 2023 BMW 330e sedan incorporates plug-in hybrid technology. Retaining the 330i's engine and pairing it with an electric motor, this model enhances its appeal with 18″ V-spoke bi-color orbit grey wheels and Servotronic power-steering assist.

M340i: With a starting MSRP of $56,400, the 2023 BMW M340i sports sedan packs a punch with its 382-hp 3.0-liter turbocharged engine. Additional features include an M Sport suspension, an M rear spoiler, and M Sport brakes adorned with striking blue or red calipers.

M3: At a starting price of $75,295, the 2023 BMW M3 takes performance to new heights with its 473-hp 3.0-liter twin-turbocharged I-6 engine.

BMW also offers enhanced versions of these models:

330i xDrive: Available from $45,800, the 2023 BMW 330i xDrive introduces an xDrive all-wheel-drive system for improved handling in various conditions. Its ability to reach 60 mph drops to an impressive 5.4 seconds.

330e xDrive: With a starting price tag of $46,900, the 2023 BMW 330e xDrive builds on the features of the 330e by incorporating the xDrive all-wheel-drive system.

M340i xDrive: From a starting price of $58,400, the M340i xDrive includes all the features of the M340i, enhanced with BMW's renowned all-wheel-drive system.

Here’s how much you might expect your cost to change based on the trim level of your car:

Choosing higher-end models like the M3 and M340i xDrive will likely come with higher repair and replacement costs, naturally causing insurance premiums to rise.

For a clearer picture of the average cost of car insurance for the 3 Series sedans and to view real insurance quotes from Jerry customers, refer to the tables below.

Car	Insurance Company	Premium (monthly)	Customer	Insurance coverage
BMW 320 i	Travelers	$127	Della, 28 Hayward, CA	• 50,000/100,000 Liability • Comp / Collision
BMW 320 i xDrive	Safeco	$164	Troy, 30 Auburn, ME	• 100,000/300,000 Liability • Comp / Collision
BMW 320 i	Allstate	$180	Betty, 30 Irving, TX	• State Minimum Liability • Comp / Collision
BMW 320 XI	Nationwide	$125	Lawrence, 50 Fairmont, NC	• 50,000/100,000 Liability • Comp / Collision
BMW 320 i xDrive	State Auto	$357	Ella, 47 Branford, CT	• 100,000/300,000 Liability • Comp / Collision

Last Updated Dec 11, 2023

BMW 5 Series insurance costs

Distinguished as the epitome of executive luxury, the BMW 5 Series stands as a symbol of superior comfort, advanced technology, and agile performance. But remember, insuring a luxury vehicle can carry a hefty premium. With an average insurance cost of $231 per month for full coverage and $104 per month for state minimum coverage, the 5 Series nevertheless remains a popular choice among discerning drivers.

Let’s explore the core line-up of the 2023 BMW 530i sedan.

2023 BMW 530i ($56,000 starting MSRP): This sedan comes with a 2.0-liter twin-turbocharged I-4 engine delivering 248 horsepower. The 530i shines with an 8-speed sport automatic transmission, plush Dakota Leather upholstery, and a panoramic moonroof.

2023 BMW 540i ($62,900 starting MSRP): This model ups the ante with its 335-horsepower turbocharged 3.0-liter 6-cylinder engine, 19-inch V-spoke wheels, and disc brakes with regenerative braking.

2023 BMW 530e ($57,600 starting MSRP): Being a plug-in hybrid, this sedan may be eligible for additional insurance discounts for being eco-friendly and less powerful. The 530e sedan’s 181-horsepower engine can travel up to 21 miles solely on electric power.

2023 BMW M550i xDrive ($81,500 starting MSRP): As we climb into maximum performance territory, the insurance costs rise accordingly. The M550i xDrive comes with a powerful 523-horsepower V8 engine and standard AWD, which may contribute to higher repair costs.

2023 BMW M5 ($109,900 starting MSRP): The flagship performance model in the 5 Series lineup, the M5 unleashes a staggering 600 horsepower and reaches 60 mph in just 3.2 seconds. This super sporty sedan features standard M xDrive, 8-speed M Sport Transmission, and a three-stage Drivelogic shifting system.

Models featuring BMW's xDrive, the brand's intelligent all-wheel drive system, not only offer enhanced performance and traction but also tend to have higher price tags, which can influence insurance premiums. Additionally, opting for available packages like the Competition Package, can enhance the vehicle’s performance and increase its value, potentially impacting your final insurance rate.

Here’s how much you might expect your cost to change based on the trim level of your car:

But remember, average rates are just that—averages. Your own rates might vary, like the real BMW 5 Series quotes in the table below.

Car	Insurance Company	Premium (monthly)	Customer	Insurance coverage
BMW 328 XI Sulev	Travelers	$63	Aiden, 31 Quincy, MA	• State Minimum Liability
BMW X4 xDrive30i	Allstate	$354	May, 47 Atlanta, GA	• 50,000/100,000 Liability • Comp / Collision
BMW 320 i	Infinity	$262	Pearl, 39 Doraville, GA	• 50,000/100,000 Liability • Comp / Collision
BMW X3 xDrive28i	Plymouth Rock	$212	Carlos, 61 Windsor, CT	• 100,000/300,000 Liability • Comp / Collision
BMW 528 i	National General	$98	Calvin, 44 Baltimore, MD	• State Minimum Liability

Last Updated Dec 7, 2023

BMW X3 insurance costs

The compact X3 is BMW’s most popular SUV—and a favorite pick for families who want practicality combined with serious style.

A step up from the sharp-but-dinky BMW X1 and more affordable than the swanky BMW X5, the 2023 X3 comes with three different powertrains, each of which carries a different set of convenience and appearance features:

sDrive30i: Starting at $46,395 MSRP, this is the base trim, with a 248-hp turbocharged four-cylinder and rear-wheel drive. Standard features include auto-dimming mirrors, push-button ignition, tri-zone automatic climate control, a 12-speaker audio system, and a navigation system.

xDrive30i: Priced starting at $48,395, the xDrive30i shares all the same features as the base sDrive, with one game-changing difference: all-wheel drive.

M40i: If you want the true BMW performance experience, including the luxe Convenience package, a leather-trimmed dashboard, and the sport-oriented Dynamic Handling package, look no further than the BMW X3 M40i, which starts at a cool $60,945.

Here’s how much you might expect your cost to change based on the trim level of your car:

Car Trim	Average State Minimum Insurance Cost	Average Full Coverage Insurance Cost
--	$117	$204
--	$84	$191
--	$96	$187
--	$99	$174
--	$74	$195

Want to see what real BMW X3 owners can expect to pay for insurance? Check out the table below.

Car	Insurance Company	Premium (monthly)	Customer	Insurance coverage
BMW X3 sDrive28i	Progressive	$257	Ronnie, 36 Katy, TX	• State Minimum Liability • Comp / Collision
BMW X3 3.0i	Safeco	$201	Elnora, 41 Queens, NY	• 50,000/100,000 Liability • Comp / Collision
BMW X3 xDrive28i	AAA	$191	Angel, 61 Windsor, CT	• 100,000/300,000 Liability • Comp / Collision
BMW X3 xDrive28i	Nationwide	$110	Mabel, 44 Richmond, VA	• State Minimum Liability • Comp / Collision
BMW X3 xDrive28i	Clearcover	$189	Elijah, 28 Chicago, IL	• 100,000/300,000 Liability • Comp / Collision

Last Updated Dec 11, 2023

calculating insurance rates

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Are BMWs more expensive to insure?

Car insurance premiums for BMW vehicles are generally 12% more compared to the average cost of other cars.

Car Make	Average State Minimum Insurance Cost	Average Full Coverage Insurance Cost
Smart	$65	$146
Saab	$74	$139
Saturn	$88	$150
Volkswagen	$93	$176
Mitsubishi	$99	$188

BMW insurance costs will vary based on the specific model you drive. Costs are influenced by a multitude of vehicle-specific risk factors such as safety ratings, repair costs, propensity for theft, value, and age.Cheapest Kia to insure

For instance, a BMW with high repair costs and poor safety ratings will likely be more expensive to insure than another vehicle in the same price range that has excellent safety ratings and low repair costs.

Cheapest BMWs to insure

The 2013 Bmw Active Hybrid stands out as the most cost-effective option in terms of insurance. On average, opting for state minimum coverage for this particular BMW model will result in a monthly premium of $40, while full coverage is estimated to cost drivers $151 per month.

Car Make	Average Monthly State Minimum Insurance Cost	Average Monthly Full Coverage Insurance Cost
2013 Bmw --	$40	$151
2016 Bmw --	$47	$267
2016 Bmw --	$47	$243
2020 Bmw --	$48	$204
2018 Bmw --	$49	$321

Models such as the BMW 3 Series, 5 Series, and X3 often come with lower premiums thanks to their robust safety features and reasonable repair costs.

In addition to excellent safety features and more affordable repair costs, other factors contributing to cheaper BMW insurance include:

Smaller and less powerful engine options

Certain vehicle types, such as smaller and economical sedans

Anti-theft features

Lower vehicle value and replacement costs

Most expensive BMW to insure

Topping the list of the most expensive BMW models to insure is the 2017 Bmw M2 demanding an average monthly premium of $188 for state minimum coverage and $218 for full coverage.

Car Make	Average Monthly State Minimum Insurance Cost	Average Monthly Full Coverage Insurance Cost
2017 Bmw --	$188	$218
2017 Bmw --	$180	$250
2021 Bmw --	$176	$280
2022 Bmw --	$170	$170
2017 Bmw --	$164	$212

High-performance and luxury-oriented BMW models often command higher insurance costs due to a variety of factors. Models such as the M8, X7 M60i, and the iX are recognized for their advanced technology, luxury features, and sporty performance—attributes that often translate to steeper insurance premiums.

Additionally, it’s important to consider other factors, such as your driving history, location, and age, as they can significantly affect your car insurance costs. While these factors contribute to average pricing trends, experts recommend shopping around for coverage tailored to your unique circumstances.

What factors affect BMW car insurance rates?

Several factors are included in

for your BMW:

Vehicle cost: As luxury vehicles, BMWs often come with higher insurance rates due to their high repair and replacement costs.

Vehicle age and model: Newer BMW models equipped with advanced technologies and high-end features may have higher insurance costs. The model also matters—performance models like the M Series generally have higher insurance costs due to their powerful engines and associated accident risk.

Cost of parts: Replacement parts for BMWs—particularly high-end models—can be costly, resulting in higher insurance premiums.

Driving record: Drivers with a clean driving record usually enjoy lower insurance rates. Drivers with accidents, tickets, or other violations usually face higher premiums.

Location: Driving and parking your BMW in areas with high crime rates, heavy traffic, or severe weather conditions often lead to higher insurance premiums.

Safety features: Insurers often offer discounts for vehicles equipped with safety features. BMWs come equipped with rather advanced safety features, which can help to offset some of the higher insurance costs of luxury vehicles.

Driver's age: Younger drivers and those over the age of 70 may see higher insurance rates due to perceived increased risks.

Now, let's delve into how certain BMW model factors can drive up premiums:

Advanced technology: The intricate design, high-performance parts, and reliance on specialized labor for repairs all contribute to higher repair costs. These factors, in turn, lead to higher insurance premiums for high-performance and luxury BMWs.

Accident risk: Models like the M8 Coupe and M3 are built for speed, increasing the likelihood of speed-related accidents. This higher risk usually translates to higher rates.

Theft risk: The allure of high-performance luxury vehicles makes them prime targets for car thieves. With their high resale value and desirability, many BMWs carry an increased risk of theft, which insurers factor into coverage costs.

Higher value: Newer BMW models with cutting-edge technology and luxury features come with higher overall higher value, directly impacting insurance rates.

Size: Despite the presence of safety features, larger BMW vehicles like the X7 (the largest BMW ever built) and X6 can cause extensive damage in accidents, leading to increased liability costs and subsequently higher insurance premiums.

BMW insurance cost for young drivers

Car insurance rates for young drivers, especially those between the ages of 16 and 19, are typically higher due to their limited driving experience and statistically higher accident rates.

Insurers already see

teen drivers

as high-risk individuals—but insuring a BMW for a young driver could lead to even higher premiums due to the car's value and potential repair costs. On the other hand, BMW's robust safety features and the brand's commitment to advanced driver-assistance tech may help offset these costs to a degree.

For young BMW owners, it is highly recommended to choose full coverage as it can offer substantial financial assistance in the event of an accident. Additionally, if you have limited personal savings or assets to cover potential damages, and depending on the regulations in your state, considering uninsured motorist coverage would be wise.

Elizabeth (24 years old)

Coverage

State Minimum

Springville, UT

BMW 550 i

$306

per month

Mamie (23 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Fort Stewart, GA

BMW 430i Gran Coupe

$278

per month

Nationwide

Helena (24 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

New Holland, PA

car insurance rates for seniors

$122

per month

Safeco

Devin (24 years old)

Coverage

State Minimum

Las Vegas, NV

BMW 328 i Sulev

$359

per month

National General

Clifford (23 years old)

Coverage

State Minimum

Spartanburg, SC

BMW 320 XI

$176

per month

BMW insurance cost for senior drivers

As drivers enter their mid-70s, they may begin to notice changes in their insurance costs. Increasing

can be attributed to multiple factors:

Declining reflexes and reaction times

Health conditions related to aging that could affect driving abilities

Increased risk of accidents

Greater probability of severe injuries resulting from an accident

Higher medical expenses for injuries sustained during an accident

As drivers age, it becomes increasingly advantageous to include roadside assistance in their insurance policy—especially if they live in remote areas, experience limited mobility, or live away from family. This additional coverage ensures they have convenient access to assistance during unexpected roadside emergencies.

Jane (66 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Windsor, NC

$150

per month

Safeco

Winnie (67 years old)

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Valrico, FL

BMW 528 i

$520

per month

Nationwide

Leila (79 years old)

Coverage

State Minimum

Sandy Springs, GA

$242

per month

AAA

Ella (67 years old)

Coverage

State Minimum

Cincinnati, OH

BMW 528 XI

$72

per month

Plymouth Rock

Mabel (72 years old)

Coverage

100,000 per person

300,000 per accident bodily injury

Whippany, NJ

BMW 320 i xDrive

$116

per month

BMW insurance cost for drivers with driving violations

Driving violations can significantly influence the cost of insuring a BMW, given that these infractions indicate a higher risk for insurance providers.

If you're a BMW driver with no infractions or at-fault accidents on your record, you'll typically benefit from the lowest insurance rates. However, if your driving history includes any of the following violations within the last three to five years, you might notice an increase in your insurance premiums:

Speeding tickets

DUIs or DWIs

At-fault accidents

Driving on a

suspended license

Reckless driving

Even a single violation like a speeding ticket can cause your insurance costs to rise, with more serious offenses such as DUIs and reckless driving having an even more profound impact.

Cheapest car insurance for BMW drivers with speeding ticket

If you've received a speeding ticket while cruising in your beemer, remember that frequency and severity matter. If you’ve received a single ticket for going less than five miles per hour over the speed limit, you might find that your premiums remain unaffected. If you have a history of frequent tickets or have received a single serious speeding violation, however, you may encounter serious premium hikes for your BMW car insurance.

Speeding Type	Car	Insurance Company	Premium (monthly)	Customer	Insurance coverage
Speeding 1-5	BMW 328 i Sulev	Allstate	$76	Gussie, 36 Chula Vista, CA	• 25,000/50,000 Liability • Comp / Collision
Speeding 6-10	BMW 328 i Sulev	Safeco	$64	Celia, 34 Cypress, TX	• State Minimum Liability
	BMW 330 Xigt	Nationwide	$118	Addie, 30 Madison, WI	• 100,000/300,000 Liability • Comp / Collision
Speeding 21+	BMW 528 i	Gainsco	$164	Miguel, 29 Fairview Heights, IL	• State Minimum Liability
Speeding 11-15	BMW 535 i	National General	$146	Derek, 36 Davenport, FL	• State Minimum Liability

Last Updated Dec 5, 2023

Cheapest car insurance for BMW drivers with a DUI record

BMW drivers with a

DUI conviction

often face the highest increases in their insurance rates. This is because a DUI conviction signals a significant risk to insurers.

Fortunately, Jerry specializes in helping BMW drivers with various types of violations explore different insurance providers, compare rates, and save on car insurance coverage. By taking proactive steps and shopping around, you can find an insurance plan that provides the coverage you need at a cost that fits your budget, no matter your driving record!

Connor (26 years old)

DUI

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Raleigh, NC

BMW M235Xi

$213

per month

Safeco

Edith (26 years old)

DUI

Coverage

50,000 per person

100,000 per accident bodily injury

Comp / Collision

Saint George, UT

BMW 328 D

$153

per month

AAA

Hattie (52 years old)

DUI

Coverage

State Minimum

Wichita, KS

BMW 428 i

$172

per month

Allstate

Leila (28 years old)

DUI

Coverage

100,000 per person

300,000 per accident bodily injury

Comp / Collision

Blackfoot, ID

BMW 328 XI Sulev

$216

per month

Gainsco

Phillip (48 years old)

DUI

Coverage

State Minimum

Jamestown, OH