How Much is BMW Car Insurance?

Last updated: August 31, 2023

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 brands can bring luxury prices

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.

How much is insurance on a BMW?

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.

BMW insurance rates by model

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.

Model	Premium
BMW X3	2,355
BMW 3-Series	2,629
BMW X5	2,696

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 July 2023.

Insurance for popular BMW models

BMW X3

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.

See how much it costs to insure a BMW X3 >

BMW X5

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.

See how much it costs to insure a BMW X5>

BMW 330i

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.

See how much it costs to insure a BMW 330i>

Cheapest car insurance companies for BMW

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:

Carrier	Premium
USAA	1,724
Nationwide	1,745
Progressive	1,885
State Farm	2,088
Geico	2,113
Auto-Owners Insurance	2,140
Travelers	2,247
Farmers	2,840
Allstate	3,231

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How much should I expect to pay to insure my BMW

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

Frequently asked

Is BMW expensive to insure?

Compared to the national average, BMWs are typically more expensive to insure. This is likely because BMW is considered a luxury brand, so it is more expensive to repair or replace in the event you need to make an insurance claim.

Why is BMW insurance so high?

In general, vehicles with higher value are more expensive to insure. Since BMW is considered a luxury brand, it costs insurance companies more to repair or replace a BMW than it would its non-luxury counterparts, leading to more costly insurance premiums upfront. These premiums, however, vary depending on factors such as your location, age, and driving record.

What is the most expensive BMW to insure?

Based on our recent data, the BMW X3 is the most expensive BMW to insure when compared with the X5 and 330i models. However, these prices are dependent on your personal details.

Why is insurance higher on luxury cars?

Typically, luxury vehicles are more expensive to insure because repairs on them cost the insurance provider more money. This is because the parts needed for luxury vehicles usually cost more than those needed for non-luxury options.