Best Car Insurance for BMW 2022

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Car Insurance for BMW

On average, BMW drivers pay ${annualpremium} each year for car insurance. But depending on the model you have, your insurance rates could vary. A M4 costs $1,921 more more per year to insure than a M340I.
First founded in the early 1900s, BMW is a German automaker that was initially focused on manufacturing aircraft engines. Since their focus has switched to automobiles, BMW has become one of the most sought-after premium brands in the world, thanks to its high performance, power, and sporty appearance.
If you choose to purchase a BMW, you will want to have the required auto insurance to keep your ride protected.
If you want cheap car insurance quotes fast, go to Jerry. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy.
Here are some real quotes from Jerry customers who saved money when insuring their BMW.
Quote DateCarCity, StateZip CodeAgeCarrier
Before Jerry
After Jerry
August 11, 2021BMW 650 IDallas, TX7520147Mercury$145/mo.$68/mo.
March 29, 2021BMW 325 IMiami, FL3315730Mercury$151/mo.$100/mo.
August 14, 2021BMW 328 IAtlanta, GA3034936Progressive$200/mo.$104/mo.
September 5, 2021BMW 320 ICamp Pendleton, CA9205522Dairyland$190/mo.$133/mo.
January 25, 2021BMW I3 RexAustin, TX7875732National General$229/mo.$177/mo.
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Insurance for BMW models

Insurance costs for BMWs can vary significantly depending on the car’s age and model, even if they all have the same make.

Insurance for BMW based on the year of the car

Although brand new cars are flashy and thrilling, you can be sure that they will have higher insurance premiums than older models.
A new automobile loses 23.5 percent of its value in the first year of ownership, and 60 percent in the first five years, according to Edmunds. If you have to file a claim, the lower the worth of your car, the less it will cost to repair or replace it.
Furthermore, drivers who opt for newer automobiles are more likely to lease or finance their vehicles, necessitating the purchase of full-coverage insurance. You’ll always pay more for full coverage than for the bare minimum coverage required by your state.
According to Jerry’s internal data, the cheapest years for BMWs are 1991 and 1997.
The most expensive years for BMWs are 2016 and 2019.
Year
Average Cost
Annual Savings with Jerry
2022$4,587$1,462Compare Prices
2021$3,466$1,122Compare Prices
2020$3,413$918Compare Prices
2019$4,675$1,301Compare Prices
2018$4,495$1,206Compare Prices
2017$4,600$1,711Compare Prices
2016$5,112$1,726Compare Prices
2015$3,800$1,046Compare Prices
2014$3,033$867Compare Prices
2013$3,338$1,164Compare Prices
2012$2,871$876Compare Prices
2011$4,799$1,663Compare Prices
2010$3,516$1,448Compare Prices
2009$3,150$1,221Compare Prices
2008$2,894$1,002Compare Prices
2007$2,820$809Compare Prices
2006$2,789$973Compare Prices
2005$2,878$824Compare Prices
2004$2,654$957Compare Prices
2003$2,497$1,197Compare Prices
2002$1,951$527Compare Prices
2001$3,270$1,102Compare Prices
2000$2,875$1,400Compare Prices
1999$1,618$206Compare Prices
1998$3,645$943Compare Prices
1997$1,144$380Compare Prices
1996$1,752$698Compare Prices
1995$3,401$2,090Compare Prices
1994$5,232$4,196Compare Prices
1993$3,360$1,672Compare Prices
Key Takeaway Since older BMWs typically cost less to repair or replace than newer ones and may not be leased or financed, they tend to have cheaper insurance rates.
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Insurance for different models of BMW

Because BMWs are considered luxury automobiles, they can be pricey to insure due to the high cost of replacement components and repairs. However, not all BMWs are made equal when it comes to car insurance.
While age plays a role in determining insurance rates, the model of the vehicle is even more crucial. Sedans and compact SUVs are often less expensive to insure than sporty coupes and large SUVs, owing to lower prices, greater safety ratings, and reduced repair costs.
A larger model, like the X7, will have steeper insurance rates compared to other BMWs thanks to its larger size, pricier starting point, and premium additions.
Conversely, the 228 I will be one of the least expensive BMW models to insure. While it is a luxury vehicle, the 228 I is on the smaller side, making it is cheaper to insure than other models in the brand.
If you want to learn more about car insurance costs for some of the most popular BMW models, check out the links below.
Key Takeaway Your car model affects your insurance rates. The more expensive the car, the more insurance usually costs.
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Full coverage vs. minimum coverage for your BMW

Before hitting the road, most states require you to have minimum liability coverage. If you are at fault in an accident, liability insurance covers the costs for other drivers.
Minimum coverages typically include:
Coverage typeProtection offered
Bodily injury liability (per person and accident)Pays for the costs associated with the injuries you’ve caused to others
Property damage liability (per accident)Pays for the costs associated with the damage you cause to other people’s vehicles or property
Several states also mandate uninsured or underinsured motorist protection to cover your losses if you’re ever in a collision with an uninsured or underinsured driver.
If you reside in a no-fault state, you may also be required to purchase personal injury protection (PIP).
While those are the minimum required policies, it’s always a good idea to carry more than your state’s minimum coverage if you can afford it. Full coverage insurance policies will make sure you are protected in case of high medical costs or significant vehicle damage. Full coverage insurance typically includes:
Coverage typeProtection offered
Collision coverageCovers the costs associated with collisions with another vehicle or object
Comprehensive coverageCovers costs of damages from an event other than a collision, like a weather event, theft, or vandalism.
The average annual insurance premium for a BMW is $1,688 per year for minimum car insurance and $3,276 for full-coverage insurance. When you consider all makes and models, the average insurance premium in the US is $1,764 per year for minimum car insurance and $2,486 for full-coverage insurance.
Here’s what it costs to insure a BMW with minimum coverage and full coverage before and after switching with Jerry.
All Coverage Before Jerry
All Coverage After Jerry
Minimum Coverage Before Jerry
Minimum Coverage After Jerry
Full Coverage Before Jerry
Full Coverage After Jerry
BMW$2,984$2,016$2,730$1,534$3,391$2,586
BMW
All Coverage Before Jerry
$2,984
All Coverage After Jerry
$2,016
Minimum Coverage Before Jerry
$2,730
Minimum Coverage After Jerry
$1,534
Full Coverage Before Jerry
$3,391
Full Coverage After Jerry
$2,586
A more expensive car, like with most makes, will be more expensive to insure.
When compared to rival luxury manufacturers such as Acura and Lexus, BMW’s insurance costs are around average.
If you’re comparing the prices of insurance for similar cars, here are the insurance costs for other brands:
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What impacts your insurance costs for BMW

While certain basic insurance costs are dictated by the car’s model, age, and type of insurance, insurance companies will also take into account your unique demographics and other factors when calculating your rates.

The model of BMW you drive

Your car’s model can greatly impact your insurance premiums. As mentioned above, opting for a sedan, like the Q50 will keep your insurance premiums lower than choosing a large SUV like the QX80. But your insurance can vary even for the same model.
Most models are offered with different trim levels—versions of the same model that includes different features—and a higher trim can come with pricier insurance premiums.
For example, here’s what insurance you might want to consider for an X3.
TrimFeaturesRecommended coverageReason for coverage
X3 sDrive30iThis trim comes standard with a turbocharged 2.0-liter four-cylinder engine, power-folding heated mirrors, and a power liftgate.Towing and Labor coverageTowing and labor coverage will protect you if your X3 gets stuck on remote or winter roads.
X3 M401iThis top-of-the-line trim has an upgraded 30-liter six-cylinder engine, as well as unique interior styling, adaptive headlights, and higher-performance tires.New car replacement insuranceIf your new BMW is totaled shortly after purchase, your insurer will pay expenses for the car’s current value (and not its depreciated one).

Your insurance company

With so many options, you might believe that staying with the one you’ve always used is the simplest way to insure your BMW, but this isn’t always the case.
For the same driver and coverage, insurers may charge vastly different premiums. If you want the best policy and premium, you should compare quotes.
Comparing quotes, on the other hand, could take a long time and be tedious—especially if you’re conducting all of your own BMW insurance research. This is where Jerry can help. Jerry is a personal insurance broker that lives in your pocket. But don’t worry about buying tiny office furniture—Jerry is an app! Once you download Jerry, just answer a handful of questions that will take you roughly 45 seconds to complete and you’ll immediately get car insurance quotes for coverage similar to your current plan.
Jerry customers save an average of $879 a year. Here’s what BMW drivers paid for car insurance before and after switching with Jerry:
Insurance Company
Average Cost
Annual Savings with Jerry
Allstate$3,934$1,630Compare Prices
National General$4,491$1,486Compare Prices
Safeco$3,746$1,325Compare Prices
State Auto$3,357$1,295Compare Prices
Kemper$2,841$1,177Compare Prices
Progressive$3,421$1,027Compare Prices
Nationwide$3,118$989Compare Prices
Travelers$3,289$796Compare Prices
Dairyland$2,241$631Compare Prices
Use Jerry to compare the insurance prices of up to 50+ carriers in only 45 secondsFind savings now

Your age

One of the most crucial factors that insurers evaluate when setting your insurance prices is your age.
On average, young drivers pay far more for insurance than older drivers. Younger drivers with less driving experience are commonly perceived as high-risk drivers by insurance providers, who raise prices based on the likelihood of a claim.

Your driving record

Traffic violations can also make a significant difference in your rate.
If you have a history of offenses, providers will label you as a high-risk driver. Insurance rates can rise as a result of multiple small offenses, such as speeding tickets, or a single big felony, such as a DUI.
Even if you have a poor driving record, you may be able to save money on your BMW insurance by improving your driving skills or taking defensive driving lessons.
Here are some common insurance premiums for BMW drivers with previous infractions:
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Where you live

Your insurance rate is influenced by your location more than you might imagine. Different areas have different rates of accidents, crime, and natural disasters. As a result, BMW insurance rates might vary significantly from one city to the next, even within the same state.
It all comes down to how much risk your insurer is willing to take on. If your city has a lot of car thefts, collisions, or extreme weather events, you should expect to pay more for your insurance.
According to our data, there is a high percentage of BMW drivers in cities including Windermere (FL), Jacksonville (FL), Los Angeles (CA), Phoenix (AZ) and Gainesville (GA).
The cheapest car insurance for BMW for Jerry users is in Rio Rico (AZ) and Bowling Green (KY).
The most expensive car insurance for BMW for Jerry users is in Castroville (CA) and East Haven (CT).
Jerry can help you locate the cheapest rates on car insurance regardless of where you live, your demographics, or the BMW model you drive.
Jerry is a free insurance comparison app that compares over 50 different insurance companies for the best rates. Jerry will assist you with the rest of the process, including filling out all paperwork and canceling your previous insurance, once you’ve chosen the coverage that’s right for you.

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