How Much Is BMW Insurance?
How Much Is BMW Insurance?
The average cost to insure a BMW model is $4,049 per year for a 30-year-old. 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
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.
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.
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.
Compare BMW to Other Manufacturers | |
|---|---|
| $2,132 per year Read review |
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| $2,447 per year Read review |
| $3,348 per year Read review |
| $4,049 per year |
| $4,201 per year Read review |
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