BMW Car Insurance

How Much Is BMW Insurance?

How Much Is BMW Insurance?

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Our survey found that the average cost to insure a BMW model is $4,049 per year for a 30-year-old male. In order to determine the average cost of insurance for BMW models, we collected insurance rates over the last five years for eight of their popular models.

As a luxury vehicle manufacturer, BMW models can be expensive to insure. This is because expensive cars usually cost more to repair and replace.

BMW insurance costs by model

Of the eight BMW models chosen for this survey, the cheapest BMW to insure with a full-coverage policy is the BMW X1, at a rate of $2,587 per year. The most expensive BMW model to insure is the i8, at $6,550 per year.

Cost to insure a BMW by model

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The cost of insurance varies based on location, age and driver history. Therefore, we recommend always comparing quotes from multiple insurers in order to find the best rate.

Rank
Model
Average annual premium
1X1$2,587
2320i$2,826
3i3$2,927
4X4$3,196
5X6$3,468
6M4$5,308
7740i$5,530
8i8$6,550

BMW 320i insurance cost

Based on the model years collected for our analysis, the average cost to insure a BMW 320i is $2,826 per year. This makes it the second-cheapest insurance out of all BMW models surveyed. The 320i also has the second-cheapest MSRP for the 2020 model at $40,750.

However, teenagers are more expensive to insure due to their greater tendency to be involved in at-fault accidents. The cost to insure a BMW 320i is $6,455 per year for an 18-year-old.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW 320i$3,384$7,178
2018 BMW 320i$2,793$6,344
2017 BMW 320i$2,653$6,091
2016 BMW 320i$2,474$5,654
Average$2,826$6,455

2019 model data not available

BMW 740i insurance cost

At a rate of $5,530 per year, the BMW 740i is the second-most expensive BMW model to insure for a 30-year-old male. For an 18-year-old male, an average full-coverage policy for the 740i costs $12,288 per year.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW 740i$6,808$14,786
2019 BMW 740i$6,243$13,565
2018 BMW 740i$5,196$11,181
2017 BMW 740i$4,756$10,582
2016 BMW 740i$4,646$10,273
Average$5,530$12,288

BMW i3 insurance cost

Our survey of rates found that the average cost of auto insurance for the BMW i3 is $2,927 per year, or $244 per month. This makes the BMW i3 the third-cheapest BMW model to insure out of the models we surveyed.

Younger drivers can expect to pay more, as the average annual cost to insure a BMW i3 for an 18-year-old is $6,775.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW i3$3,056$7,087
2019 BMW i3$2,920$6,741
2018 BMW i3$2,821$6,493
2017 BMW i3$3,032$7,045
2016 BMW i3$2,802$6,509
Average$2,927$6,775

BMW i8 insurance cost

The BMW i8 has the most expensive insurance quotes out of the eight BMW models we surveyed. For our 30-year-old sample driver, the average cost of insurance for a BMW i8 is $6,550 per year. The average cost to insure an 18-year-old comes in at $14,705 per year.

The BMW i8, which is a hybrid electric sports car, also has the most expensive MSRP for a 2020 model, at $147,500.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW i8$7,293$16,419
2019 BMW i8$6,929$15,536
2018 BMW i8$6,556$14,768
2017 BMW i8$6,169$13,848
2016 BMW i8$5,804$12,953
Average$6,550$14,705

BMW M4 insurance cost

The cost to insure a BMW M4 is slightly above average, at a rate of $5,308 per year for our 30-year-old sample driver. Younger drivers can expect to pay more, as the average cost to insure a BMW M4 is $12,138 per year for an 18-year-old.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW M4$6,434$14,827
2019 BMW M4$6,041$13,877
2018 BMW M4$5,032$11,503
2017 BMW M4$4,618$10,470
2016 BMW M4$4,441$10,011
Average$5,308$12,138

BMW X1 insurance cost

Of the eight BMW models we surveyed, the BMW X1 has the cheapest insurance rate, at $2,587 per year for our 30 year-old sample driver. The BMW X1 also has the cheapest rate for an 18-year-old driver, at $5,890 per year.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW X1$3,384$7,178
2019 BMW X1$3,384$7,178
2018 BMW X1$2,793$6,344
2017 BMW X1$2,653$6,091
2016 BMW X1$2,474$5,654
Average$2,587$5,890

The 2020 BMW X1 has an MSRP of $35,200, which is the cheapest of all the BMW models we surveyed.

BMW X4 insurance cost

The average cost to insure a BMW X4 is $3,196 per year, which is slightly below average for all eight BMW models. The average cost to insure a BMW X4 is $7,281 per year for an 18-year-old.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW X4$3,747$8,621
2019 BMW X4$3,548$8,148
2018 BMW X4$3,099$7,026
2017 BMW X4$2,873$6,490
2016 BMW X4$2,716$6,121
Average$3,196$7,281

BMW X6 insurance cost

Our analysis of rates found the average cost to insure a BMW X6 is $3,468 per year for our 30-year-old driver. Insurance rates varied by $1,053 across model years. The average cost to insure a BMW X6 for an 18-year-old is $7,866 per year.

Year & Model
Annual cost for a 30-year-old
Annual cost for an 18-year-old
2020 BMW X6$3,932$8,966
2019 BMW X6$3,739$8,503
2018 BMW X6$3,576$8,136
2017 BMW X6$3,216$7,217
2016 BMW X6$2,879$6,507
Average$3,468$7,866

Methodology

To calculate the average costs of insuring BMWs, our analysis included quotes for two sample drivers: a 30-year-old male and an 18-year-old male. The BMW insurance quotes we used were for a full-coverage policy with the following limits:

Coverage
Limits
Bodily injury liability$50,000 per person/$100,000 per accident
Personal injury protection$10,000
Property damage liability$25,000 per accident
Uninsured/underinsured motorist bodily injury$50,000 per person/$100,000 per accident
Comprehensive and collision$500 deductible

Our study used insurance rate data from Quadrant Information Services. The quotes used were publicly sourced from insurer filings and should only be used for comparative purposes. Actual quotes for these BMW models may differ from the estimates provided.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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