Key Takeaways
Under the BMW M sub-brand, the M5 is a high-performance version. Within the realm of sports sedans, it is widely recognized as a legendary model.
The price of the car, its safety features, and several driving and non-driving factors are all considered when determining BMW M5 insurance costs. Here, we look at which insurance company offers the cheapest BMW M5 car insurance coverage and analyze if this high-end vehicle is eligible for insurance discounts.
To understand whether the M5 series from BMW is costlier to insure, we look at the average insurance cost of cars with similar specs. The cost to insure a BMW M5 is moderately higher for some models. Go through the comparison table below with average insurance rates of various brand models in the same segment.
| Car Make & Model | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| Alfa Romeo Giulia Quadrifoglio | $1,164 | $97 |
| Lexus GS F | $1,656 | $138 |
| Volvo S60 | $1,836 | $153 |
| BMW M5 | $1,920 | $160 |
| Jaguar XE | $2,148 | $179 |
| Genesis G80 | $2,244 | $187 |
| Audi RS7 | $2,304 | $192 |
| Porsche Panamera | $3,228 | $269 |
| Tesla Model S | $3,552 | $296 |
| Mercedes-AMG GT | $4,188 | $349 |
Vehicle Value & Repair Costs: M5 is the high-performance variant in the BMW 5 Series. Being classified as an executive sedan itself explains the high insurance rates of the car.
Performance Specs (Risk Factor): The TwinPower Turbo V8 in the 2024 BMW M5 can reach 60Mph in 3.2 - 3.5 seconds. With greater power comes greater risk. The sporty engine specs of the car model are seen as a potential risk with a higher chance of collision by the insurers. Hence, the BMW M5 auto insurance rates go higher.
Safety Features: The insurance cost of the BMW M5 series is influenced by each trim level's safety features and specifications. Here, we examine the safety factors that influence insurance quotes. Such safety features guarantee both safety and lower insurance costs. Higher MSRP raises the bar for the insurers. Along with the advanced features attached to the car model, the repair and maintenance costs are also high.
Driver Profile: Driver age, gender, marital status, and credit score are the key factors related to the driver that can affect your car insurance rates. More experienced female married individuals and those with higher credit scores can find lower insurance rates easily.
Location & Parking: An area's accident and theft rates have significant roles in determining insurance premiums. These factors are considered high-end sports cars when determining location-based insurance rates. Therefore, start comparing plans for your ZIP code to get the accurate rates.
Usage & Mileage: High-performing models such as M5 are often not preferred for daily commutes. Such cars are mostly driven during specific occasions for pleasure driving. If you fall into this category, your annual mileage is significantly lower. In that case, it is best to choose usage-based insurance where annual mileage is a major factor that decides the car insurance rates. The lower the mileage is, the lower the risk rates are.
Theft Risk: The luxury status of the car can make it one of the prime targets for theft. All the same, the car model has some of the most advanced security features. Anyways, it is best to install anti-theft devices and secure garage parking to lower the cost of BMW M5 car insurance.
We can observe the rate difference and how it decreases with older models by comparing the various BMW M5 models based on year. For instance, a 2015 M5 model will cost $3,381 to insure, whereas a 2013 model will cost $2,938. Go through the average insurance rates of the selected BMW M5 model year in the table below.
| BMW M5 Model Year | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| 2015 BMW M5 | $3,381 | $282 |
| 2014 BMW M5 | $3,238 | $270 |
| 2013 BMW M5 | $2,938 | $245 |
Not all insurance companies provide sports car insurance. Based on the model year, different companies offer your BMW M5 series rates. According to the research conducted by this website, Acuity is the cheapest insurance for the BMW M5. The average annual insurance rate offered by the carrier is $1,686, which is 12% lower than the average insurance rates for the model. Compare customer-rated insurers in the table below and choose the best one that fits your insurance requirements.
| Cheapest Insurance Companies | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| Acuity | $1,686 | $140 |
| Plymouth Rock Insurance | $1,725 | $144 |
| Erie | $1,774 | $148 |
| Tennessee Farmers | $1,814 | $151 |
| Vermont Mutual | $1,834 | $153 |
| Arbella | $1,849 | $154 |
| Country | $1,856 | $155 |
| Southern Farm Bureau | $2,036 | $170 |
| Amica | $2,152 | $179 |
| State Farm | $2,285 | $190 |
| 21st Century | $2,354 | $196 |
The average annual cost to insure a 2015 BMW M5 is $3,381. Acuity, Plymouth Rock Insurance, and Erie provide the cheapest rates. Acuity offers comparatively lower insurance rates for the model year, which is $1,653 on average per year. Go through the cheap insurance rates offered by various insurance providers in the table below.
| Cheapest Insurance Companies | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| Acuity | $1,653 | $138 |
| Plymouth Rock Insurance | $1,664 | $139 |
| Erie | $1,696 | $141 |
| Vermont Mutual | $1,768 | $147 |
| Tennessee Farmers | $1,785 | $149 |
| Arbella | $1,800 | $150 |
| Country | $1,826 | $152 |
| Southern Farm Bureau | $1,972 | $164 |
| Amica | $2,091 | $174 |
| State Farm | $2,220 | $185 |
| USAA | $2,263 | $189 |
| 21st Century | $2,289 | $191 |
The average BMW M5 car insurance cost for the 2014 model year is $3,238 per year. Acuity, Plymouth Rock Insurance, and Erie are the cheap insurance providers for your M5. Find more cheap average insurance rates in the table below.
| Cheapest Insurance Companies | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| Acuity | $1,656 | $138 |
| Plymouth Rock Insurance | $1,726 | $144 |
| Erie | $1,774 | $148 |
| Tennessee Farmers | $1,806 | $151 |
| Vermont Mutual | $1,815 | $151 |
| Country | $1,842 | $154 |
| Arbella | $1,846 | $154 |
| Southern Farm Bureau | $2,033 | $169 |
| Amica | $2,143 | $179 |
| State Farm | $2,258 | $188 |
| 21st Century | $2,340 | $195 |
The 2013 model BMW M5 has one of the cheapest insurance rates compared to other model years. The average annual insurance cost of a 2013 M5 is $2,938. However, 40% lower rates are offered by Acuity at an average annual offer of $1,748. Go through more affordable rates offered by other insurers in the table below.
| Cheapest Insurance Companies | Average Annual Rates | Average Monthly Rates |
|---|---|---|
| Acuity | $1,748 | $146 |
| Plymouth Rock Insurance | $1,785 | $149 |
| Erie | $1,851 | $154 |
| Tennessee Farmers | $1,852 | $154 |
| Arbella | $1,901 | $158 |
| Country | $1,901 | $158 |
| Vermont Mutual | $1,919 | $160 |
| Southern Farm Bureau | $2,104 | $175 |
| Amica | $2,222 | $185 |
| State Farm | $2,378 | $198 |
| Nationwide | $2,391 | $199 |
| 21st Century | $2,433 | $203 |
Numerous safety features of the BMW M5 series ensure safety and a lower insurance rating. These are the salient safety features hosted on a BMW M5.
BMW M5 car insurance costs depend on the safety ratings obtained during the tests conducted by independent agencies such as the IIHS. Here is an overview of the car safety ratings from the detailed tests conducted by the IIHS in the table below.
| Test Type | Ratings |
|---|---|
| Small overlap front: driver-side | Marginal |
| Moderate overlap front: original test | Good |
| Side: original test | Good |
| Roof strength | Good |
| Head restraints & seats | Good |
| Front crash prevention: vehicle-to-vehicle | Superior |
| LATCH ease of use | Good |
Compare Multiple Quotes: Comparing BMW M5 insurance quotes from multiple carriers is the most efficient method to find the best insurance rates for the car model. This will help to see through the price offered by various carriers for the same coverage. You can either get quotes from the insurers' websites directly or visit an insurance comparison tool like the Way app to get the best comparison from 140 + insurance providers.
Be smart with your claims: A BMW M5 series is an expensive investment. So, you must consider how much it will cost you in the long run to protect the car. Most insurance companies will charge you for three years if you cause an accident. One must consider these implications before filing a claim or paying out of pocket.
Research and shop around: It is critical to conduct research and obtain quotes from multiple insurance companies. This will determine which one best meets your needs. It also keeps you from overpaying for insurance. Leading insurers offer the BMW M5 auto insurance quotes online. And explore plans that suit your driving habits.
Bundle your policies: Save on BMW M5 insurance costs by purchasing your life, home, auto, and pet insurance from the same company. Similarly, multi-line discounts are offered by many insurance companies in exchange for the purchase of multiple policies.
Know the discounts: Many insurance companies provide discounts depending on your clean driving record, driving history, credit scores, strong school record, and other factors. Inquiring about these discounts' availability may result in lower pricing.
Raise your deductibles: Having a higher deductible will result in a decrease in the amount of your monthly premium.
Security and anti-theft luxury car discounts: Due to their safety features, such as anti-lock brakes, daytime running lights, airbags, and traction control systems, expensive sports cars like the BMW M5 series often receive discounts on auto insurance. Car alarms, secure parking, electronic monitoring equipment, and window etching for vehicle identification numbers qualify for discounts from some insurers.
It is easy to get cheaper BMW M5 insurance rates on Way.com! Signing up by entering the relevant details regarding the driver and car gives you easy access to Way's pool of over 140 leading insurance companies by answering easy questions and comparing quotes! In addition, the Way app can assist you in locating the finest savings.
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 average car insurance cost of the BMW M5 series is $1,920 annually, which is around $160 per month.
Yes, compared to the regular sedans, BMW M5 insurance rates are higher. The higher car value, repair, and maintenance costs are major factors contributing to the high insurance costs.
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