How much is car insurance on a BMW 535i for a driver under 25 in New Jersey?

I'm 19 and just got my driver's license after having a provisional one for 18 months. I have my eye on a 2016 BMW 535i, but I'm worried about insurance costs. How much will it cost to insure the car in New Jersey?

Answer
“If you buy a luxury car like a BMW, you’ll probably want full coverage on it unless it has high mileage (over 100,000 miles). That’s going to get expensive, especially when you consider that the average rate for full-coverage insurance is over $1,700 a year.
Because you’re young and the 535i is a high-performance vehicle, that average could increase by three or four times. So instead of getting that particular vehicle, you may want to consider an older BMW or one with a four-cylinder engine. This will help cut costs dramatically.
Regardless of which vehicle you choose to buy, don’t forget to shop around for quotes to get a low rate. The free Jerry app can provide affordable quotes in seconds, allowing you to find the cheapest premium.”
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Eric Schad
Answered on Apr 16, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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