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BMW 3 Series Car Insurance

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Key Takeaways

  • A BMW 3 series will cost $1566 per year to insure.
  • USAA and Nationwide provide the cheapest rates for BMW 3 series.
  • One can opt for security and anti-theft luxury car discounts while insuring your BMW 3 series.

The bestselling model from BMW, the BMW 3 series, is a classic from the brand. Seven generations and the powerful M3 model lined up in this popular luxury small car series.

With a starting price of $41,450, the 2022 BMW 3 Series is one of the costliest luxury compact cars. The plug-in hybrid 3 Series is priced at $42,950, whereas the sportier M340i costs $54,700. Additionally, the performance-oriented M3 begins at approximately $70,000.

When calculating insurance premiums, the cost of the vehicle, its safety features, and many driving and non-driving elements are taken into account. Here, we examine the model's cheapest insurance provider and whether or not this luxury car qualifies for insurance reductions.

BMW 3 Series Car Insurance Cost

The full coverage car insurance for a BMW 3 series is $1566 annually. Being a small luxury car, the insurance rates are comparatively higher compared to similar cars.

Are BMW 3 series expensive to insure?

Yes, BMW 3 series is an expensive car to insure. Full coverage of BMW 3 series car insurance costs $1566 annually or about $131 per month. This is almost $133 more than the average car insurance rate in the United States.

The trim levels and the model year heavily influence the insurance rates of this small luxury car. With a difference of at least $393 between newer and older models, we observe that older models cost less to insure.

Model Insurance Cost
Mercedes-Benz A220 $1,512
BMW 330i $1,618
Acura TLX $1,632
Volvo S60 $1,650
BMW 330e $1,656
BMW 228i $1,664
BMW 230i $1,676
Alfa Romeo Giulia $1,704
Cadillac CT4 $1,706
Lexus RC 350 $1,710
Genesis G70 $1,732
Audi A4 $1,778
Audi S3 $1,784
Mercedes-Benz C300 $1,826
BMW M235i $1,864
Audi RS 3 $1,868
BMW M240i $1,896
Lexus IS 350 $1,910

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What impacts the cost of BMW 3 Series car insurance?

The cost of auto insurance is highly variable and can be affected by factors such as a person's age, the state they live in, the insurance company they choose, and their driving habits. Here are some factors that impact the cost of the BMW 3 series.

Age of the car

Your BMW 3 Series' average annual insurance premium is significantly affected by the car's age. A newer model may be expensive, but its safety features might help counter the high insurance premiums. For example, considering the different models by year of a BMW 3330i, we observe a difference of $214 between a 2022 and a 2017 model.

Model Year and Vehicle Average Annual Insurance Rate
2022 BMW 330i $1,618
2021 BMW 330i $1,600
2020 BMW 330i $1,566
2019 BMW 330i $1,476
2018 BMW 330i $1,466
2017 BMW 330i $1,414

Age of the Driver

Driver’s age plays an important role in classifying you as a high-risk driver. For example, the table below illustrates the insurance rates for a BMW 3 series according to the driver’s age.

Age Average Annual Premium
Teens $6534
20s $3261
30s $1856
40s $1566

Location of the Driver

Your place of residence heavily influences the insurance rate of these small luxury cars. Apart from the theft and accident statistics, the insurance policies that vary with different states can influence the rates of your BMW 3 series.

State Average Annual Premium
Alabama $2514
Alaska $2080
Arizona $2311
Arkansas $2578
California $2869
Colorado $2677
Connecticut $3419
Delaware $2831
Florida $3370
Georgia $2749
Hawaii $1102
Idaho $1909
Illinois $1998
Indiana $2053
Iowa $1627
Kansas $2163
Kentucky $3124
Louisiana $4009
Maine $1526
Maryland $2455
Massachusetts $1970
Michigan $4746
Minnesota $2361
Mississippi $2361
Missouri $2225
Montana $2261
Nebraska $1913
Nevada $3152
New Hampshire $2195
New Jersey $2417
New Mexico $2468
New York $2287
North Carolina $1420
North Dakota $1941
Ohio $1731
Oklahoma $2761
Oregon $2513
Pennsylvania $2118
Rhode Island $3531
South Carolina $2400
South Dakota $2154
Tennessee $2531
Texas $2550
Utah $2170
Vermont $1672
Virginia $1575
Washington, D.C. $2084
West Virginia $2097
Wisconsin $2090
Wyoming $1951

Insurance Company

Apart from USAA, Nationwide provides the cheapest insurance rate, beginning at $1680 per month for this luxury car from BMW.

Company Average Annual Premium
USAA $1506
Nationwide $1680
State Farm $1769
Progressive $1926
Farmers $2043
Liberty Mutual $2103
All State $2577

Features of the BMW 3 Series

The insurance cost of the BMW 3 series is influenced by each trim level's safety features and specifications. Here, we examine the safety factors that influence insurance quotes. These unique characteristics guarantee not only safety but also lower insurance costs.

Safety Ratings and Features

According to the Insurance Institute for Highway Safety data, the different test types carried out have shown good ratings for the BMW 3 series. The model tested here for crashworthiness is a 2022 BMW 3 series.

Test Type Rating
Small overlap front: driver-side Good
Small overlap front: passenger-side Good
Moderate overlap front Good
Side Good
Roof strength Good
Head restraints and seats Good

Moreover, the numerous safety features of a BMW 3 series not only ensure safety but also ensure a lower insurance rating. These are the salient safety features hosted on a Silverado.

  • Airbags
  • Antilock brakes
  • Anti-theft device
  • Parking sensors
  • Surround view camera system
  • Daytime running lights
  • Electronic stability control
  • Seatbelt pretensioners
  • Rear backup sensors
  • Lane-departure warning systems
  • Adaptive cruise control

Hacks to Save on BMW 3 Series Car Insurance

The high cost, increased risk of theft, and expensive repairs associated with luxury vehicles mean that insurance can be very costly. Here are a few hacks to keep the insurance rates for your BMW 3 series under check.

Be clever with your assertions

Consider the long-term financial implications of claiming to protect your high-end investment, which is a BMW 3 series in this case. Most car insurance companies will charge you for any accident at fault for three years. Consider these measures before deciding to file a claim or paying out-of-pocket.

Research and shop around

It is critical to conduct research and obtain quotes from multiple insurance providers. This will allow you to compare more effectively and select the best option based on your needs. This also prevents you from overpaying for coverage.

For common luxury cars, like the BMW 3 series, it is reasonably straightforward to procure online quotes from top insurers. However, businesses may charge different rates for the same amount of coverage, so comparing quotes is important.

Bundle your policies

Known as multi-line discounts, several insurance companies offer incentives for combining multiple insurance policies. Most insurers give substantial discounts if you purchase your home, auto, life, and pet insurance from the same company. Therefore, it is wise to bundle your policies. Avoid adding high-risk drivers, like teenage drivers, to your policy since it can drastically increase your premiums.

Know the discounts

A major share of insurance providers offers discounts based on your clean driving record, driving history, credit scores, good student record, and so on. Enquiring about the availability of these discounts can result in a reduced rate.

Raise your deductibles

Opting for a higher deductible will automatically reduce your premium rates.

Off-season vehicle storage

Owning a luxury car can indicate occasional driving. If you drive your car occasionally, you can opt for storage of your vehicle. Drop all but extensive coverage if you don't intend to drive a car for an extended time. Maintain comprehensive coverage in the event of any injury to your car that is not relevant to driving. Certain companies will allow maintaining just the comprehensive coverage if you have opted for driving seasonal coverage.

Security and anti-theft luxury car discounts

Since luxury cars like the BMW 3 series are equipped with safety equipment such as anti-lock braking, daytime running lights, airbags, and traction control systems, car insurers typically offer discounts. Many of these items are common for luxury cars, so ensure the insurance provides you any possible discounts.

Insurers offer discounts on features that minimize burglary risks, such as car alarms, safe parking, electronic monitoring equipment, and window etching for vehicle identification numbers (VIN).

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Bottomline

The average car insurance cost for a BMW 3 series is $1566 annually. Even though the rates vary according to models, the older your model, the lesser will be the insurance rates. You must maintain a flawless driving record to keep your car insurance rates minimum. Then, one can shop around and ensure they get the appropriate discounts and a lower insurance premium.

While states like Michigan, Rhode Island, Ohio, and Louisiana are among the costliest to insure a BMW 3 series, the rates are cheaper in Hawaii and North Carolina.

How to get BMW 3 Series Car Insurance with Way.com

It is advisable to gather as much information as possible before settling on an insurance provider. Doing your research by analyzing the quotes for your BMW 3 series after obtaining them online will reward you with better coverage at a lower price.

Way.com gives you a head start by researching the finest insurance providers for luxury cars in the country based on variables that will influence the experience, financial strength, customer service, protection, and pricing of your insurance coverage.

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

Frequently Asked Questions

Are BMW 3 series expensive to insure?

Yes, BMW 3 series is an expensive car to insure. Full coverage of BMW 3 series car insurance costs $1566 annually. This is almost $133 more than the average car insurance rate in the United States.

How much is car insurance for a BMW 3 series?

The full coverage car insurance for a BMW 3 series is $1566 annually or about $131 per month.

Is BMW 3 series considered a luxury?

Yes, BMW 3 is a small luxury car. Its make, performance, and unique safety features make it fall under the luxury category.

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