Key Takeaways
The BMW i8 is one of the most modern cars that were introduced by BMW. The brand has found the future by incorporating electric cars with performance. There was a time when electric cars were stamped for underperformance. That's where BMW has mixed advanced carbon fiber manufacturing, perfectly inclined aerodynamics, and technologically advanced electrical power. So, it's always a revolution in the auto industry.
So, while it's a complicated mix, have you ever doubted that it charges a higher BMW i8 car insurance cost? Are there insurance companies that give affordable insurance premiums for the i8? Let's answer all those queries so that you don't have doubts when buying or planning to buy one.
The average annual BMW i8 auto insurance cost is $4,308. You know the national average insurance rate is $2,679, and that makes it almost double the cost. Yes, the insurance rate for electric or hybrid cars is high. Even though the BMW i8 is built with advanced technologies and performance in mind, the maintenance and spare parts costs are higher than those of most other vehicles. However, the rates do fluctuate based on several factors, so always compare BMW i8 car insurance premiums from multiple insurance providers to find the best one that suits you.
Yes, the BMW i8 model is one of the most expensive cars to insure. The major reasons for the higher BMW i8 insurance cost are its high performance, high MSRP, and expensive spare parts. Furthermore, other factors also cause variations in the insurance rate. That's why it's always better to explore all coverage options to find the most affordable BMW i8 car insurance cost.
The BMW i8 car insurance cost is high compared to many other cars in the market. The major reasons that make this car expensive to insure are its luxury class, advanced technology, rare and costly spare parts, high MSRP, and high repair costs. All these directly impact the insurance cost of the BMW i8.
Apart from car-related factors, the driver's profile also plays a big role in determining the BMW i8 insurance cost. Age, driving history, past claims, driving experience, and even location are important factors that affect how much you pay for a BMW i8 car insurance.
Tennessee Farmers offers the cheapest BMW i8 insurance at just $1,317, while Mercury follows closely with premiums starting from $1,467. On the other hand, Progressive and Plymouth Rock Insurance are among the most expensive, charging $3,617 and $3,825 annually. However, remember that the cheapest rates don't always mean the best coverage. Always compare BMW i8 insurance quotes to understand exactly what is included in the policy.
| Insurance Company | Annual Rate |
|---|---|
| Tennessee Farmers | $1,317 |
| Mercury | $1,467 |
| American Family | $1,828 |
| 21st Century | $2,174 |
| Nationwide | $2,681 |
| Erie | $3,035 |
| Arbella | $3,236 |
| Country | $3,373 |
| State Farm | $3,438 |
| Farmers | $3,439 |
| Progressive | $3,617 |
| Plymouth Rock Insurance | $3,825 |
While comparing the 2019 BMW i8 auto insurance costs, Mercury stands out as the cheapest option with an annual premium of $1,440. American Family and Nationwide also offer affordable premiums for the i8. Meanwhile, Safeco is the most expensive insurance company, charging $3,414 annually.
| Insurance Company | Annual Rate |
|---|---|
| Mercury | $1,440 |
| American Family | $2,391 |
| Nationwide | $2,469 |
| Cincinnati Insurance | $2,482 |
| Tennessee Farmers | $2,755 |
| Farmers | $2,863 |
| Erie | $2,970 |
| Auto Owners | $3,121 |
| State Farm | $3,166 |
| Arbella | $3,199 |
| Country | $3,243 |
| Safeco | $3,414 |
Once again, Mercury ranks first among the cheapest companies to insure a 2017 BMW i8, with an annual premium of $950. Progressive is another affordable option when looking for low-cost coverage. On the other hand, Allstate and Amica offer the highest 2017 BMW i8 insurance rates at $4,192 and $4,054, respectively.
| Insurance Company | Annual Rate |
|---|---|
| Mercury | $950 |
| Progressive | $1,007 |
| Farmers | $1,476 |
| USAA | $1,613 |
| State Farm | $2,284 |
| Nationwide | $2,385 |
| Southern Farm Bureau | $3,139 |
| American Family | $3,966 |
| Amica | $4,054 |
| Allstate | $4,192 |
Like the 2020 model BMW i8, Tennessee Farmers is the most affordable insurance company for the 2016 model, charging $1,212 annually. Mercury follows closely at $1,376, as it has consistently been one of the cheapest insurance companies for the i8. In contrast, Progressive offers the most expensive option, with annual premiums of $3,192.
| Insurance Company | Annual Rate |
|---|---|
| Tennessee Farmers | $1,212 |
| Mercury | $1,376 |
| American Family | $1,639 |
| 21st Century | $1,973 |
| Erie | $2,585 |
| Arbella | $2,821 |
| Nationwide | $2,857 |
| Plymouth Rock Insurance | $3,022 |
| Farmers | $3,055 |
| State Farm | $3,175 |
| Progressive | $3,192 |
Like each model year of the i8, Mercury is the cheapest option on the list of insurance companies for the 2015 BMW i8, at $1269. Also, Arbella offers an affordable premium at $2,163 annually. If you are looking for higher insurance rates, Nationwide stands at the top, costing an annual charge of $3,045.
| Insurance Company | Annual Rate |
|---|---|
| Mercury | $1,269 |
| Arbella | $2,163 |
| Plymouth Rock Insurance | $2,225 |
| Erie | $2,228 |
| Farmers | $2,395 |
| Tennessee Farmers | $2,666 |
| State Farm | $2,708 |
| Progressive | $2,723 |
| Acuity | $2,805 |
| Southern Farm Bureau | $2,938 |
| Country | $2,943 |
| Nationwide | $3,045 |
The BMW i8 comes with advanced safety features that are well ensured by the brand itself. Even though the BMW i8 car insurance cost is high, these features help bring it down slightly.
Here are the key safety features of the BMW i8:
Start your auto insurance journey today with the Way app or by heading to Way.com, where you can get a free quote in just a few minutes! Compare policies from over 140 top insurers on our platform, giving you the freedom to pick the plan that best fits and helps lower your BMW i8 car insurance costs. With Way, you can also check insurance rates for different car models without any stress.
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
Way.com’s Insurance Broker Quote Data
The BMW i8 can start at $70,000 and can cost as much as $90,000.
The average cost of insurance for a BMW i8 is roughly $4,308 per year. The rate can differ depending on the state you live in, the trim level of the i8, and other features.
The BMW is one of the costliest luxury sports cars to insure, with only the Audi R8 and Nissan GT-R costing more.
The BMW brand signifies luxury, and luxury cars are either way costly to insure. On top of that, the i8 is a plug-in hybrid sports car – a highly specialized segment of cars. No wonder then that the i8 costs nearly $5000 to insure.
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