Compare the Cost of BMW 1 Series Insurance by Model Year and Company
Compare Rates and Save on Car Insurance
By, Content Director
Your age plays a role in how much you pay to insure a BMW 1 Series. For full coverage, a 16-year-old pays an average of $6,108 annually to insure a 2009 model, and the cost drops to $1,314 for a 40-year-old. For a 2022 model, 16-year-olds pay around $8,765, while 40-year-olds pay roughly $1,932.
We selected the best insurance providers after accounting for costs, customer service and claims management.
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Average Cost and Cheapest Companies for Insuring a BMW 1 Series
While the average cost of a full coverage policy for a BMW 1 Series is $1,725 per year, the company you select impacts your rate. State Farm charges an average of $1,318 per year, making it the cheapest car insurance company. Farmers is the most expensive, charging an average of $2,116 annually.
When it comes to minimum coverage policies, State Farm is the cheapest, at $475 per year. The most expensive is Farmers, charging $706.
Is a BMW 1 Series Expensive to Insure?
Insurance companies look at different variables to determine the cost of insuring a BMW 1 Series. Despite the fact that BMW is known for its luxury vehicles, insuring a BMW 1 Series car is moderately expensive. Some models are more expensive to insure than others because of factors like a vehicle’s cost, repair costs and theft rates.
Best Companies for Insuring a BMW 1 Series
Buying an auto insurance policy requires looking at more than just the cost because factors like customer service and claims management also require your attention. The best car insurance companies for BMW 1 Series vehicles needing full coverage are:
- State Farm: MoneyGeek score 90 out of 100 ($1,318 per year)
- GEICO: MoneyGeek score 89 out of 100 ($1,366 per year)
State Farm provides the cheapest insurance for BMW 1 Series vehicles. It also offers excellent customer satisfaction.
MoneyGeek Top Pick: State Farm
Provides the cheapest insurance for the BMW 1 Series
Excellent customer satisfaction score
Offers roadside assistance and rental car/travel reimbursement
Does not provide accident forgiveness and new car replacement
Low coverage and claims management scores
State Farm ranks well in affordability and customer satisfaction for the BMW 1 Series but offers very basic coverages. Rental car and/or travel reimbursement is in place to cover car rental and travel expenses up to a predetermined limit if your car needs repairs due to an accident. It also includes a $500 repayment of deductible in case you get into an accident in a rental car.
Roadside assistance covers charges you pay for mechanical labor during the first hour after a breakdown, towing costs, locksmith costs, change of tires and delivery of battery, oil or gas.
State Farm does rank lower in terms of claims management and coverage options. It does make up for these shortcomings by providing a variety of discount options to help policyholders lower their premiums.
MoneyGeek Runner-Up: GEICO
Great customer satisfaction
Offers mechanical breakdown insurance, roadside assistance and rental car/travel reimbursement
Does not offer gap insurance and new car replacement
Coverage and claims management scores could be higher
While GEICO provides affordable insurance for BMW 1 Series car owners, the coverage it offers leaves room for improvement. The company’s mechanical breakdown insurance (MBI) offers coverage for all parts and systems of a BMW 1 Series vehicle, and not just ones that most dealer warranties cover. It applies to new cars as well as leased cars that are up to 15 months old and have covered less than 15,000 miles.
Rental car and/or travel reimbursement covers the cost of a rental vehicle up to a predetermined limit if you cannot use your car for over 24 hours owing to a covered accident. Roadside assistance might come in handy if you have a flat tire or a battery that needs a jump start, if you lock yourself outside of your car or in case you need towing services.
Cost of Insuring a BMW 1 Series by Model Year
The average cost of car insurance can vary significantly depending on model years. The average cost of a full coverage policy for a 2009 model BMW 1 Series car is $1,314. It increases to $1,932 for a 2022 model. Newer models are more expensive to insure because a car’s value typically depreciates over time.
BMW 1 Series insurance rates will also vary based on the model and the insurance company you select. State Farm has the lowest average rate for a 2009 model at $964 per year. GEICO offers the cheapest insurance for a 2022 model, charging an average of $1,314 per year.
Cost of Insuring a BMW 1 Series for 16- to 25-Year-Olds
While insurance companies account for a car’s model, they also factor in age. Car insurance for teens and young drivers is typically more expensive than for older adults. The average BMW 1 Series insurance cost for 16-year-olds with a full coverage policy is a staggering $7,616, and it drops to $1,670 for a 40-year-old. Insurance costs decrease as teens get older, but this levels off once they reach their 20s.
The most affordable way for teens to get insurance for BMW 1 Series vehicles is to become a part of a family plan since individual plans are more expensive. Teens under 18 might also need a guardian’s permission to get coverage. State Farm provides the cheapest insurance for a 16-year-old needing full coverage for a 2022 model, with an average cost of $5,068 per year. Progressive is the most expensive, at $13,289 per year.
Teens and their families should consider shopping around to determine which insurance company might work best for them.
How Does Location Affect the Cost of BMW 1 Series Insurance?
While your age, the age of your BMW 1 Series car and its model type have a bearing on how much you need to pay for insurance, so does the state in which you reside. This means the company that provides the cheapest insurance for a BMW 1 Series vehicle may change based on your location.
Idaho holds the distinction of offering the cheapest full coverage car insurance and Florida is the most expensive. When you’re looking for a new auto insurance policy, identifying the most affordable companies is important so you may then get quotes from them.
Frequently Asked Questions About BMW 1 Series Insurance
People looking for BMW 1 Series car insurance tend to have questions about cost and quality. Take a look at answers to some of the most commonly asked questions so you may make a well-informed decision.
About Mark Fitzpatrick