Compare the Cost of BMW 3 Series Insurance by Model Year and Company

Based on MoneyGeek’s study, the average insurance for BMW 3 Series is $1,560 per year. That’s slightly higher than the average rate, which means it is more expensive to insure a BMW 3 Series than other cars. However, rates vary depending on the insurance provider and the vehicle’s model year. It’s best to shop around and compare prices to find the best policy for your needs.

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When looking for the best car insurance for your BMW 3 Series, it pays to shop around. Each company will offer different insurance quotes, even for the same car. Comparing BMW 3 Series insurance rates from multiple carriers can help you find the best deal possible.

Key Takeaways

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On average, the cost of insuring BMW 3 Series is $1,560 per year — that’s $133 more than the average car model rate, which is $1,427.

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Depending on your insurance provider, the cost of BMW 3 Series insurance can fluctuate by $698 per year.

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For a BMW 3 Series, the rate can change by $387 per year, depending on your model. Typically, older models have cheaper insurance rates.

How Much It Costs to Insure a BMW 3 Series and the Cheapest Company

Your choice of auto insurance company plays a big role in BMW 3 Series insurance rates. While the average annual cost of insurance for a BMW 3 Series is $1,560, premiums can be higher or lower, depending on the insurer. The cheapest average insurance rate for this vehicle is USAA, at $1,249 per year. Allstate offers the most expensive rates, with an average $1,947 yearly premium. Depending on which company you choose, you could save up to $698.

The Average Annual Cost of BMW 3 Series Insurance by Company

For this study, MoneyGeek gathered average car insurance rates from different providers using a sample driver profile. The rates are for a driver with 100/300/100 liability insurance and comprehensive and collision coverage.

The Average Cost to Insure a BMW 3 Series by Company

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Is a BMW 3 Series Expensive to Insure?

Auto insurance providers consider many factors when determining rates for a given model. Typically, they charge higher rates to insure more expensive vehicles. Because it’s a fairly expensive car, BMW 3 Series insurance rates are also expensive. High repair costs, theft rates, and horsepower ratings may also contribute to BMW 3 Series insurance's high cost.

The Best Car Insurance Company for a BMW 3 Series

The cost of insurance is an important factor. However, it should not be the only consideration when choosing a policy for a BMW 3 Series. The best car insurance company will be the one that gives you a positive experience, accurate policy and fair price.

MoneyGeek used a unique rating system based on affordability, customer complaints, customer satisfaction and financial stability. Based on these factors, MoneyGeek found:

  • USAA is the best option when insuring a BMW 3 Series, but the company only offers its policies to current and former military members and their families.
  • Progressive is the second-best option for drivers with BMW 3 Series. It’s worth considering if you’re not qualified for a USAA policy.

1
USAA
Score:99

5/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
Progressive
Score:86

4.7/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

3
State Farm
Score:83

4.3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

4
GEICO
Score:79

4/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

5
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

How Much It Costs to Insure a BMW 3 Series by Model Year

Depending on the version of your BMW 3 Series, car insurance rates fluctuate. Older versions tend to have cheaper rates because a car’s value depreciates over time — lower value results in less expensive collision and comprehensive insurance. For instance, the average premium for a 2014 BMW 3 Series is $1,332 per year. In contrast, the annual average cost of insurance for the 2020 version is $1,666, or $334 more.

Other insurance providers may offer cheaper rates depending on the model year of your BMW 3 Series. USAA offers the most affordable average car insurance rate for a 2020 BMW 3 Series at $1,278 per year. Consider checking your car’s specific model year below and comparing the rates from different insurers, as the cheapest option can change depending on your model.

The Average Cost to Insure a BMW 3 Series by Model Year

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  • Company
    Average Annual Rates (2020 model)
    Average Annual Rates (2019 model)
    Average Annual Rates (2018 model)
    Average Annual Rates (2017 model)
    Average Annual Rates (2016 model)
    Average Annual Rates (2014 model)
  • 1.
    $1,278
    $1,388
    $1,297
    $1,221
    $1,194
    $1,118
  • 2.
    $1,402
    $1,399
    $1,359
    $1,343
    $1,321
    $1,251
  • 3.
    $1,608
    $1,552
    $1,539
    $1,506
    $1,481
    $1,306
  • 4.
    $1,609
    $1,527
    $1,639
    $1,471
    $1,672
    $1,477
  • 5.
    $1,772
    $1,630
    $2,201
    $1,363
    $1,326
    $1,246

How Expensive Is It to Insure a BMW 3 Series Compared to Other Cars?

The BMW 3 Series has relatively expensive auto insurance rates. The average insurance for BMW 3 Series costs $1,560 per year. The average insurance cost for other car models is only $1,427 annually. However, insurance of a BMW 3 Series is relatively more affordable than the average cost for luxury brands like Tesla.

How Much It Costs to Insure a BMW 3 Series for 16- to 25-Year-Olds

The age of the driver can also be a determining factor in BMW 3 Series insurance rates. Insurers typically charge more to younger drivers because of inexperience. The average BMW 3 Series insurance cost for an 18-year-old driver is $5,092 per year. That’s $3,532 more expensive than the average rate for a 40-year-old. Below are more average annual rates for young drivers ages 16 to 25.

Teen drivers who want to save money on auto insurance may want to consider being on the same policy as their parents, as buying a separate policy is significantly more expensive.

The Average Cost to Insure a BMW 3 Series by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $6,528
  • 17
    $5,783
  • 18
    $5,092
  • 19
    $3,647
  • 20
    $3,255
  • 21
    $2,577
  • 22
    $2,374
  • 23
    $2,172
  • 24
    $2,039
  • 25
    $1,850
  • 40
    $1,560

How Does Location Affect the Cost of BMW 3 Series Insurance?

The prices specified in this article are based on national average rates for a BMW 3 Series. However, your place of residency will have a huge impact on your car insurance rates. Learn more about car insurance rates in individual states with MoneyGeek’s state page analysis.

FAQs About BMW 3 Series Insurance

When determining car insurance rates, carriers consider the model of your car. However, it’s not the only factor they take into account. Find out more about BMW 3 Series insurance rates through MoneyGeek’s frequently asked questions.

Read More About Car Insurance

Methodology

MoneyGeek collected information on BMW 320i car insurance rates across all available model years using a sample driver profile, a 40-year-old male with a full coverage policy. Sample coverage includes:

  • $100,000 in bodily injury liability insurance per person
  • $300,000 in bodily injury liability insurance per accident
  • $100,000 in property damage liability insurance per accident
  • Comprehensive and collision insurance with a $1,000 deductible

Using these rates, drivers can begin to answer the question, “How much is BMW 3 Series insurance?” However, these sample premiums should only serve as a guide and will not reflect your specific rates.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.