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Key Takeaways
- BMW 5 Series insurance is expensive due to its luxury status and high maintenance costs.
- Factors like age, driving history, and location significantly impact premium rates.
- Comparing quotes from multiple insurers and looking for discounts can help lower insurance costs.
BMW 5 Series Auto Insurance Cost
The average annual insurance cost of a BMW 5 Series is $3,700, while minimum liability coverage costs $2,000. The fact is that BMW 5 Series insurance costs are slightly higher than those of most competitors.
Additionally, the insurance price varies based on age, driving experience, driving history, and more. So, it is always best to maintain a good track record to get cheaper BMW 5 Series auto insurance. Always compare insurance providers to find the policy that suits you best.
Is BMW 5 Series Expensive to Insure?
Yes, BMW 5 Series car insurance is expensive compared to other car models. Sometimes, it costs more than the national average car insurance cost, which shows how expensive it is. However, since it is a luxury car, it requires higher maintenance costs. That's why it falls into the higher insurance category.
What Impacts the Cost of BMW 5 Series Car Insurance?
Several factors impact the cost of BMW 5 Series auto insurance cost. The given is some of the factors that can significantly impact the premium rates you'll pay for coverage.
- The driver's age
- The driver's gender
- The city you are in
- The age of the car
- Trim level of the car
- The insurance company you choose
BMW 5 Series Insurance Cost by Age
Age is a crucial factor that affects BMW 5 Series insurance costs. For a 17-year-old driver, the cost is around $12,459, but the amount decreases as the driver ages. The lowest auto insurance premium is for a 55-year-old driver, which is only $3,283. With many BMW 5 Series car insurance providers available, comparing policies can help you get the most affordable rate.
| Age | Premium Amount |
|---|---|
| 17 | $12,459 |
| 18 | $11,611 |
| 19 | $10,261 |
| 20 | $8,947 |
| 21 | $7,503 |
| 22 | $7,307 |
| 23 | $6,394 |
| 24 | $6,074 |
| 25 | $5,242 |
| 30 | $4,084 |
| 35 | $3,825 |
| 40 | $3,678 |
| 45 | $3,579 |
| 55 | $3,283 |
| 65 | $3,424 |
| 75 | $4,322 |
Cheapest Insurance Companies Based on BMW 5 Series Model Years
2024 BMW 5 Series
21st Century offers the lowest BMW 5 Series car insurance premium at $2,898, while Mercury provides the lowest 2024 model insurance at $4,171. The most expensive 2024 BMW 5 Series insurance is from Grange at $6,699.
| Insurance Company | 12-Month Premium |
|---|---|
| 21st Century | $2,898.00 / year |
| Mercury | $4,171.00 / year |
| California Capital | $4,425.00 / year |
| Erie | $5,204.00 / year |
| USAA | $5,764.00 / year |
| Farmers | $5,932.00 / year |
| Unitrin | $6,000.00 / year |
| Travelers | $6,258.00 / year |
| New York Central Mutual Fire | $6,555.00 / year |
| Grange | $6,699.00 / year |
2023 BMW 5 Series
Like the 2024 model BMW 5 Series, 21st Century provides the cheapest car insurance for the 2023 model year, with a monthly premium of $2,898.
| Insurance Company | 12-Month Premium |
|---|---|
| 21st Century | $2,898.00 / year |
| Mercury | $4,171.00 / year |
| California Capital | $4,425.00 / year |
| Erie | $5,204.00 / year |
| USAA | $5,764.00 / year |
| Farmers | $5,932.00 / year |
| Unitrin | $6,000.00 / year |
| Travelers | $6,258.00 / year |
| New York Central Mutual Fire | $6,555.00 / year |
| Grange | $6,699.00 / year |
2022 BMW 5 Series
For the 2022 BMW 5 Series, Safeco offers the lowest insurance premium at just $278 per year. Meanwhile, Mercury Insurance Company provides the most expensive coverage at $3,099 annually. The average insurance cost for this model is around $2,360.47 per year.
| Insurance Company | 12-Month Premium |
|---|---|
| Safeco | $278.00 / year |
| New Jersey Manufacturers | $1,488.00 / year |
| Penn National | $1,731.00 / year |
| Mercury Insurance | $2,108.00 / year |
| National General | $2,146.00 / year |
| 21st Century | $2,530.00 / year |
| National General Value | $2,731.00 / year |
| Clearcover | $2,955.00 / year |
| Mercury Insurance Company | $3,099.00 / year |
2021 BMW 5 Series
Direct Auto's 2021 BMW 5 Series car insurance cost is the most affordable at $1,280 per year. Meanwhile, Farmers have the highest rate at $3,446 per year. On average, insuring this model will cost around $3,075 annually.
| Insurance Company | 12-Month Premium |
|---|---|
| Direct Auto | $1,280.00 / year |
| Kemper Auto | Infinity | $2,185.00 / year |
| California Capital | $2,709.00 / year |
| Mercury | $2,744.00 / year |
| Allied | $2,766.00 / year |
| Clearcover | $2,974.00 / year |
| National General Value | $3,069.00 / year |
| CSAA | $3,108.00 / year |
| 21st Century | $3,182.00 / year |
| Farmers | $3,446.00 / year |
2020 BMW 5 Series
The 2020 BMW 5 Series has a wide range of insurance costs, with NatGen Custom 360 offering the lowest rate at just $414 per year. On the higher end, Quincy Mutual charges the most at $2,523 annually.
| Insurance Company | 12-Month Premium |
|---|---|
| NatGen Custom 360 | $414.00 / year |
| NatGen PPA | $1,339.00 / year |
| Dairyland Broadform | $1,629.00 / year |
| Clearcover | $1,641.00 / year |
| Norfolk and Dedham Group | $1,722.00 / year |
| Dairyland FR Bond | $1,728.00 / year |
| Direct Auto | $1,827.00 / year |
| Safety Group | $1,839.00 / year |
| Plymouth Rock Assurance | $2,046.00 / year |
| Quincy Mutual | $2,523.00 / year |
BMW 5 Series Insurance Rates by State
Michigan has the most expensive car insurance rates, reaching $7,366 per year. Louisiana ($6,220) and Rhode Island ($5,479) also have high premiums due to accident rates and state insurance laws.
Conversely, Hawaii has the lowest insurance cost at $1,703 per year. Maine ($2,352) and North Carolina ($2,197) also offer cheaper BMW 5 Series auto insurance rates.
| State | Annual Premium |
|---|---|
| Alabama | $3,897 |
| Alaska | $3,224 |
| Arizona | $3,644 |
| Arkansas | $3,996 |
| California | $4,449 |
| Colorado | $4,151 |
| Connecticut | $5,304 |
| Delaware | $4,391 |
| Florida | $5,228 |
| Georgia | $4,262 |
| Hawaii | $1,703 |
| Idaho | $2,958 |
| Illinois | $3,096 |
| Indiana | $3,181 |
| Iowa | $2,520 |
| Kansas | $3,352 |
| Kentucky | $4,846 |
| Louisiana | $6,220 |
| Maine | $2,352 |
| Maryland | $3,806 |
| Massachusetts | $3,052 |
| Michigan | $7,366 |
| Minnesota | $3,032 |
| Mississippi | $3,660 |
| Missouri | $3,449 |
| Montana | $3,507 |
| Nebraska | $2,964 |
| Nevada | $4,889 |
| New Hampshire | $3,401 |
| New Jersey | $3,747 |
| New Mexico | $3,827 |
| New York | $3,545 |
| North Carolina | $2,197 |
| North Dakota | $3,007 |
| Ohio | $2,681 |
| Oklahoma | $4,281 |
| Oregon | $3,896 |
| Pennsylvania | $3,282 |
| Rhode Island | $5,479 |
| South Carolina | $3,721 |
| South Dakota | $3,338 |
| Tennessee | $3,926 |
| Texas | $3,954 |
| Utah | $3,363 |
| Vermont | $2,589 |
| Virginia | $2,439 |
| Washington | $3,229 |
| West Virginia | $3,249 |
BMW 5 Series Safety Features
The BMW 5 Series is equipped with advanced safety features that enhance protection and may help lower insurance costs.
Some of its key safety features include:
- BMW Active Protection System
- Automatic Emergency Braking (AEB)
- Lane Departure Warning (LDW)
- Frontal Collision Warning with Pedestrian Detection
- Lane Keeping Assist (LKA)
- Active Cruise Control with Stop & Go
- Blind Spot Detection with Rear Cross-Traffic Alert
- Traffic Jam Assist
- Reinforced Safety Cage with High-Strength Steel
- Advanced Airbag System
- Seat Belt Pre-Tensioners
- ISOFIX Child Safety Seat Anchors
- Surround View Camera System (available on higher trims)
- Traffic Sign Recognition
- Front and Rear Parking Sensors
BMW 5 Series Safety Ratings
Safety ratings play a major role in determining the BMW 5 Series auto insurance cost, and the ratings for this model are quite high. So, even if you are planning to buy a luxury sedan, this is the best pick.
| Model Year | Organization | Overall Rating | Frontal Impact | Side Impact |
|---|---|---|---|---|
| 2024-2025 | IIHS | Top Safety Pick | Good | Good |
| 2023 | IIHS | Good | Good | Good |
| 2017 | Euro NCAP | 5 Stars | Good | Good |
Ways to Save on BMW 5 Series Car Insurance
- Maintain a clean driving record: Reckless or irresponsible driving can stay on your record and lead to higher insurance costs. If you have at-fault accidents or DUI violations, insurers may charge you more.
- Maintain a good credit score: A strong credit score can help you save significantly on your BMW 5 Series insurance. Drivers with higher credit scores tend to get lower rates.
- Follow traffic laws: Traffic violations, such as speeding tickets or running red lights, can cause your insurance premiums to rise.
- Ask about discounts: Check for available BMW 5 Series insurance discounts, including safe driver discounts, multi-policy savings, safety feature discounts, low mileage discounts, anti-theft device discounts, and new car discounts to cut down your premium costs.
- Bundle your policies: Bundling your auto and home insurance with the same provider can help you unlock additional savings.
How Do I Find the Best BMW 5 Series Car Insurance Rates?
- Before purchasing insurance for your BMW 5 Series, take the time to research the market and understand current insurance trends. While a low rate may seem appealing, it's always a good idea to get multiple free quotes from different insurers.
- The key is to compare, compare, compare! Look for a provider that offers a balance of affordable rates and solid coverage.
- An insurance platform like Way.com can quickly find the lowest rates you qualify for based on your financial profile.
- Keep in mind that the cheapest policy isn't always the best! Sometimes, spending a little extra can provide more comprehensive protection.
How to Get BMW 5 Series Auto Insurance with Way
Getting insurance for your BMW 5 Series is simple. Just download the Way App or visit the Way.com website to receive free quotes in minutes! Our platform compares rates from over 150 insurance providers, helping you find the best policy for your BMW 5 Series—all in under 60 seconds!
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
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