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The average price for BMW car insurance is around $2,560 per year. However, your exact price will be different depending on things such as the model of your BMW, your coverage requirements, and your state.
What does it cost to insure my BMW?
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Luxury brand cars offer drivers several benefits, including enhanced comfort, better safety features, and improved resale value. However, drivers of luxury brands may also pay higher insurance costs since their cost of repairs is more expensive than non-luxury vehicles. BMWs are no different.
We understand that keeping insurance costs low is at the forefront of every driver’s mind, but how can you really be sure that you are getting the most bang for your buck? Well, we’re here to help you do just that!
By the end of this article, you will understand what insurance options are out there for BMW owners as well as what you can expect to pay for your BMW car insurance.
We compiled our most recent data, and the research showed that insuring your BMW can cost anywhere from $2,350 to $2,700 per year, or around $196 to $225 per month.
Of course, the price you pay to insure your BMW might be different. There are several factors that go into pinning down your exact rate, such as age, location, credit score, driving history, and gender (to name a few).
Additionally, there are several factors related to your policy that come into play. These include your deductible and coverage limits, the specific model you are insuring, and the year and trim of your BMW.
The last (and perhaps most daunting) element of your premium is the insurance company you choose. There are many insurance companies out there, and different companies offer different rates. It’s important to do your own research to decide the best provider for you and ensure you are getting the right coverage for the best price.
You can start your research now with our short quiz experience, and we’ll estimate the price you’ll pay at the top companies in your area.
Looking at the specific BMW model you are driving is a great way to start personalizing your rates. Based on our research of the most popular 2023 BMW models , the BMW X3 offers the lowest premium while the BMW X5 is the priciest.
Typically, the higher the MSRP rate on your BMW, the more expensive your car insurance becomes.
According to our data, the most popular models among BMWs are the X3, X5, and 330i. To help you learn more, we have laid out some additional information on these models below.
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.Â
The BMW X3 provides drivers with 490 miles of range and can go from 0-60 in 4.1 seconds. The MSRP on a 2023 BMW X3 starts at $46,200.
The BMW X5 offers drivers 569 miles of range and has the ability to go from 0-60 in 5.4 seconds. The MSRP on this model starts at $61,600.
On a full tank, the BMW 330i has 452 total miles of range and can go from 0-60 in 7.1 seconds. The MSRP on a BMW 330i starts at $43,800.
When it comes to car insurance, comparing rates from several different providers is key. You deserve to know that you are getting the best deal, and this is the #1 way to do that. As previously stated, rates from any carrier will vary based on factors such as your location, age, budget, and the type of coverage you are looking for. According to our research, these are the best insurance providers for various BMW models:
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Personalized rate estimates at the top insurance companies in your state
Your rates will vary based on where you live, your age, and other factors like your driving record
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.Â
For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.
These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile.Â
At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results. Â
So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you.Â
Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs. Â
We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.Â
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