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Key Takeaways
- Older BMW models that aren't leased or financed cost less to fix or replace than current models and hence have lower insurance premiums.
- The BMW X1 is the cheapest BMW model to insure, with an average annual rate of $1,704. At $4,236 per year, the BMW i8 is the costliest model.
- Erie offers the cheapest insurance rate for BMW models, with an average annual insurance premium of $1,401.
BMW car insurance costs are cheaper compared to those of other luxury car brands. Insurance companies sometimes offer lower insurance premiums for certain BMW models due to their good safety features and fewer risk factors. At the same time, certain trims of BMW models usually have higher insurance rates as they are included in the higher-performance category. Let's go through the insurance rates of selected BMW models and the rates offered by various carriers.
How Much Does It Cost to Insure a BMW?
Buying BMW insurance will cost you $1,716 per year for a full coverage policy. Numerous factors affect the BMW car insurance cost. Factors like a driver's age, location, credit score, and driving record are all considered when determining insurance premiums. In addition, the model and trim level of the BMW car you own also determines the insurance premium you pay. BMW car insurance costs are cheaper compared to those of many other popular luxury brands like Audi, Mercedes-Benz, Porsche, and Tesla.
| Luxury Car Brands | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Chevrolet | $138 | $1,656 |
| BMW | $143 | $1,716 |
| Toyota | $148 | $1,772 |
| Alfa Romeo | $202 | $2,426 |
| Jaguar | $205 | $2,459 |
| Audi | $205 | $2,462 |
| Mercedes-Benz | $214 | $2,567 |
| Porsche | $222 | $2,667 |
| Tesla | $262 | $3,144 |
BMW Car Insurance by Company
Comparing quotes from different insurers is one method to find the cheapest deal on auto insurance prices. Erie offers the cheapest BMW car insurance at $1,401 per annum. USAA and Vermont Mutual also offer competitive rates, at $1,423 and $1,431, respectively. The auto insurance rates of the cheapest providers for different BMW models are given below.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $117 | $1,401 |
| USAA | $119 | $1,423 |
| Vermont Mutual | $119 | $1,431 |
| Acuity | $122 | $1,458 |
| Progressive | $126 | $1,510 |
| Tennessee Farmers | $126 | $1,518 |
| Nationwide | $128 | $1,536 |
| Mercury | $130 | $1,561 |
| Country | $132 | $1,588 |
| American Family | $133 | $1,594 |
BMW Car Insurance by Model
The BMW model you choose has a big role in determining the insurance cost you may have to pay, especially when comparing quotes. Being a luxury brand, several of the BMW models have average annual full coverage premium rates that exceed the national average.
Certain BMW models, such as the X1, X3, i3, and Z4, are cheaper to insure compared to the rest. However, the BMW i8 has the highest premium rates, with an annual premium of $4,236.
| BMW Model | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| BMW 2-Series | $169 | $2,028 |
| BMW 3-Series | $181 | $2,172 |
| BMW 4-Series | $194 | $2,328 |
| BMW 5-Series | $184 | $2,208 |
| BMW 6-Series | $253 | $3,036 |
| BMW 7-Series | $293 | $3,516 |
| BMW i3 | $164 | $1,968 |
| BMW i8 | $353 | $4,236 |
| BMW X1 | $142 | $1,704 |
| BMW X3 | $148 | $1,776 |
| BMW X4 | $178 | $2,136 |
| BMW X5 | $182 | $2,184 |
| BMW X6 | $257 | $3,084 |
| BMW Z4 | $164 | $1,968 |
BMW 2-Series
The average annual insurance rate for the BMW 2-Series is $2,028. The cheapest insurer for this model is Erie, with an annual premium of $1,274. USAA also offers competitive rates at $1,331 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $106 | $1,274 |
| USAA | $111 | $1,331 |
| Nationwide | $120 | $1,443 |
| Vermont Mutual | $122 | $1,466 |
| Plymouth Rock Insurance | $122 | $1,469 |
| State Farm | $123 | $1,480 |
| Mercury | $126 | $1,516 |
| American Family | $127 | $1,518 |
| Progressive | $127 | $1,518 |
| Acuity | $128 | $1,537 |
| Country | $144 | $1,728 |
BMW 3-Series
On average, it costs around $2,172 per year to insure the BMW 3-Series. Erie offers the cheapest average rate for the car model, at $900 per year. Progressive is the next best option with an average annual premium of $921.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $75 | $900 |
| Progressive | $77 | $921 |
| USAA | $90 | $1,078 |
| State Farm | $91 | $1,086 |
| Nationwide | $97 | $1,163 |
| Vermont Mutual | $105 | $1,256 |
| Allstate | $106 | $1,272 |
| Tennessee Farmers | $107 | $1,286 |
| American Family | $110 | $1,324 |
| Cincinnati Insurance | $113 | $1,352 |
BMW 4-Series
BMW 4-Series insurance costs around $2,328 per year. Erie is the cheapest insurance provider with an annual premium of $1,082. Progressive also offers competitive rates at $1,093 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $90 | $1,082 |
| Progressive | $91 | $1,093 |
| USAA | $110 | $1,317 |
| State Farm | $112 | $1,341 |
| Tennessee Farmers | $113 | $1,353 |
| American Family | $123 | $1,472 |
| Vermont Mutual | $122 | $1,461 |
| Mercury | $117 | $1,406 |
| Nationwide | $119 | $1,428 |
| Acuity | $130 | $1,562 |
BMW 5-Series
BMW 5-Series insurance costs you $2,208 on average, per year. Erie offers the cheapest rates at $1,101 per annum. Plymouth Rock Insurance offers the most expensive rates at $1,569 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $92 | $1,101 |
| USAA | $109 | $1,311 |
| Vermont Mutual | $114 | $1,365 |
| State Farm | $120 | $1,438 |
| Acuity | $120 | $1,441 |
| American Family | $121 | $1,451 |
| Tennessee Farmers | $122 | $1,461 |
| Progressive | $124 | $1,492 |
| Nationwide | $124 | $1,492 |
| Plymouth Rock Insurance | $131 | $1,569 |
BMW 6-Series
You can expect to pay around $3,036 per year to insure the BMW 6-Series on average. However, Tennessee Farmers offers the cheapest deal with an annual insurance cost of $1,677. Nationwide also offers affordable rates at $1,799 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Tennessee Farmers | $140 | $1,677 |
| Nationwide | $150 | $1,799 |
| Plymouth Rock Insurance | $152 | $1,823 |
| Mercury | $154 | $1,843 |
| Erie | $158 | $1,892 |
| USAA | $170 | $2,038 |
| State Farm | $170 | $2,041 |
| Vermont Mutual | $171 | $2,047 |
| Progressive | $174 | $2,091 |
BMW 7-Series
Tennessee Farmers offers the cheapest insurance premium for the BMW 7-Series, with an average annual premium of $1,719. Otherwise, you may have to pay around $3,516 per year to insure the model.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Tennessee Farmers | $143 | $1,719 |
| Plymouth Rock Insurance | $148 | $1,772 |
| Progressive | $150 | $1,798 |
| State Farm | $158 | $1,891 |
| Erie | $159 | $1,901 |
| USAA | $167 | $2,008 |
| Arbella | $168 | $2,012 |
| Acuity | $168 | $2,016 |
| Southern Farm Bureau | $171 | $2,053 |
| Vermont Mutual | $173 | $2,075 |
BMW i3
Generally, it costs around $1,968 per year to insure the BMW i3. The best rates are available from USAA, with premiums starting at just $1,279 per year. However, USAA's benefits are limited only to military personnel, veterans, and their family members. The next best option is Erie, with an annual premium of $1,358.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| USAA | $107 | $1,279 |
| Erie | $113 | $1,358 |
| Mercury | $114 | $1,370 |
| Acuity | $115 | $1,382 |
| Nationwide | $115 | $1,378 |
| Vermont Mutual | $116 | $1,387 |
| State Farm | $120 | $1,437 |
| Country | $124 | $1,488 |
| American Family | $126 | $1,505 |
BMW i8
The average BMW i8 car insurance cost is around $4,236 per year, making it the most expensive model to insure. Mercury offers the best deals, with a premium rate of just $1,487 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Mercury | $124 | $1,487 |
| 21st Century | $180 | $2,160 |
| American Family | $197 | $2,357 |
| Tennessee Farmers | $202 | $2,422 |
| Farmers | $208 | $2,498 |
| Nationwide | $208 | $2,499 |
| State Farm | $213 | $2,554 |
| Erie | $221 | $2,653 |
| Plymouth Rock Insurance | $240 | $2,882 |
| Arbella | $226 | $2,711 |
BMW X1
The average annual insurance for a BMW Cooper is $1,704, and Vermont Mutual is the cheapest insurer for this model, with an annual premium of $1,063. Acuity also offers competitive rates at $1,126 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Vermont Mutual | $89 | $1,063 |
| Acuity | $94 | $1,126 |
| Tennessee Farmers | $93 | $1,116 |
| Nationwide | $97 | $1,164 |
| USAA | $98 | $1,171 |
| Erie | $99 | $1,187 |
| Progressive | $105 | $1,260 |
| State Farm | $105 | $1,257 |
| Country | $106 | $1,270 |
| Arbella | $108 | $1,289 |
BMW X3
Generally, it costs around $1,776 per year to insure a BMW X3. Vermont Mutual offers the cheapest rate, at $981 per year. Erie also offers competitive rates at just $1,005 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Vermont Mutual | $82 | $981 |
| Erie | $84 | $1,005 |
| Tennessee Farmers | $86 | $1,035 |
| Acuity | $92 | $1,107 |
| USAA | $95 | $1,143 |
| Plymouth Rock Insurance | $101 | $1,210 |
| Country | $102 | $1,220 |
| Nationwide | $104 | $1,252 |
| Arbella | $105 | $1,256 |
| State Farm | $108 | $1,292 |
BMW X4
BMW X4 insurance costs around $2,136 per year, with Erie and Vermont Mutual offering the cheapest yearly rates at $1,383 and $1,384, respectively.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $115 | $1,383 |
| Vermont Mutual | $115 | $1,384 |
| Nationwide | $117 | $1,403 |
| Mercury | $123 | $1,477 |
| USAA | $124 | $1,491 |
| American Family | $128 | $1,533 |
| Progressive | $134 | $1,611 |
| Auto Owners | $142 | $1,701 |
| State Farm | $148 | $1,776 |
| Southern Farm Bureau | $152 | $1,821 |
BMW X5
The average BMW X5 insurance costs $2,184 per year. Erie offers the cheapest rates, at $1,244 per annum. USAA and Tennessee Farmers also offer competitive rates, at $1,320 and $1,334, respectively.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $104 | $1,244 |
| USAA | $110 | $1,320 |
| Tennessee Farmers | $111 | $1,334 |
| Nationwide | $118 | $1,421 |
| Vermont Mutual | $123 | $1,479 |
| Mercury | $127 | $1,520 |
| Country | $136 | $1,633 |
| Arbella | $140 | $1,681 |
BMW X6
You may have to pay around $3,084 per year to insure the BMW X6 model on average. However, Erie offers the cheapest deal with an annual insurance cost of $1,529. Country has the highest premium rate at $2,348 per year.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $127 | $1,529 |
| USAA | $134 | $1,605 |
| Progressive | $151 | $1,808 |
| Mercury | $156 | $1,870 |
| Tennessee Farmers | $161 | $1,936 |
| State Farm | $171 | $2,054 |
| Nationwide | $179 | $2,145 |
| Arbella | $195 | $2,337 |
| Country | $196 | $2,348 |
BMW Z4
Erie offers the cheapest insurance premium for the BMW Z4 with an average annual premium of $1,102. Otherwise, you can expect to pay around $1,968 per year to insure the model.
| Company | Average Monthly Cost | Average Annual Cost |
|---|---|---|
| Erie | $92 | $1,102 |
| Plymouth Rock Insurance | $96 | $1,151 |
| Vermont Mutual | $101 | $1,213 |
| Tennessee Farmers | $113 | $1,356 |
| Nationwide | $115 | $1,379 |
| USAA | $118 | $1,412 |
| Country | $118 | $1,432 |
| State Farm | $124 | $1,490 |
| Acuity | $125 | $1,497 |
How Do I Find the Best BMW Car Insurance Rates?
- You should always research the market and analyze the insurance trends before purchasing your BMW insurance. It could be tempting to choose a provider that offers a low rate. However, it's always better to apply for multiple free insurance quotes from as many companies as you can. You can apply individually or make use of an insurance platform like Way.com.
- The best approach for finding the right policy is to analyze all of your options. Only choose a provider who offers a balance of low rates and comprehensive coverage. Ask for available discounts like multi-policy, good student, loyalty, and senior citizen that can lower your insurance costs.
- In only a few minutes, an insurance aggregator like Way.comcan help you find the lowest insurance rates you've qualified for with your financial position.
- The cheapest rates don't always mean the best, so consider spending a little bit more to get comprehensive coverage. You can also save more on your BMW insurance cost by bundling your home and car insurance policies.
How to Get BMW Car Insurance with Way.com
It is really easy to get car insurance quotes with Way.com. All you need to do is download the Way app or log on to our website. On our platform, you can compare offers from more than 140 different insurance providers. This will help you select the most suitable option to reduce your BMW car insurance costs.
INSURANCE AGENT EXPERTS
Auto Insurance Data Methodology
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
DATA SOURCES
Way.com’s Insurance Broker Quote Data
Frequently Asked Questions
Are BMW models expensive to insure?
No, BMW car insurance is cheaper than that of other luxury car brands. The average annual cost is just $1,716. However, your premiums may vary depending on the model, the insurance company you select, and additional factors like your driving record and where you live.
Are BMW X1 models expensive to insure?
No, the BMW X1 car insurance cost is the cheapest when compared to that of other BMW models. The average annual cost for the car model is just $1,704.
Which is the most expensive BMW model to insure?
With an average annual premium of $4,236, the BMW i8 is the most expensive BMW model to insure.
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