How Much Is BMW Insurance? Compare Quotes by Model

At an average of $1,780 per year, a BMW is expensive to insure compared to other makes and brands. Even so, car insurance rates can still change depending on your actual BMW model. To get different pricing options for various drivers, MoneyGeek examined all BMW models by model year and driver age.

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Last Updated: 3/24/2022
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The average cost to insure a BMW can vary greatly depending on the model. For instance, a BMW 1 Series is the cheapest BMW model to insure at an average of $1,255 per year, while a BMW i8 is the most expensive at an average of $2,810 annually.

To help you find the cheapest companies and average rates for your BMW, MoneyGeek broke down costs for all of BMW's major models.

How Much BMW Insurance Costs on Average - Summary by Model

The average cost of car insurance for a BMW varies depending on the model. Listed below are the average costs of BMW's 10 most popular models, sorted from least to most expensive.

  • BMW 1 Series: $1,255 per year
  • BMW X3: $1,274 per year
  • BMW X5: $1,424 per year
  • BMW 5 Series: $1,502 per year
  • BMW 3 Series: $1,560 per year
  • BMW i3: $1,673 per year
  • BMW 4 Series: $1,769 per year
  • BMW 7 Series: $1,937 per year
  • BMW X7: $2,030 per year
  • BMW i8: $2,810 per year

Every model comes at a specific price point and has its own unique set of features. For instance, models with a high manufacturer's suggested retail price (MSRP) or high horsepower cost more to insure because of the increased risk of theft. Expensive repair costs can also lead to a high insurance premium.

BMW Annual Insurance Costs by Model

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Are BMWs Expensive to Insure?

Generally, BMWs are expensive to insure, but the average cost for some models is lower than others. The model of your car will determine its average insurance cost more than its brand. MoneyGeek analyzed 10 major BMW models and found that a BMW 1 Series car and a BMW X3 are cheap to insure, while BMW X5 cars have moderate insurance costs and the rest have expensive insurance premiums.

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WHY BMW COSTS DIFFER BY MODEL

Thanks to its relatively low value and horsepower compared to other BMWs, the BMW 1 Series is the most affordable model to insure amongst BMW’s line of cars, costing an average of $1,255 per year. Low-value models are less likely to be stolen, and low horsepower means that drivers are less likely to crash. This combination leads to more affordable premiums.

On the other hand, the BMW i8 has the most costly premiums at an average of $2,810 per year. This is because it’s a luxury sports car with a high value, meaning it’s more likely to be stolen compared to other BMW models.

How Much Is Insurance for a BMW i8?

Across all model years, the BMW i8 costs an average of $2,810 to insure annually. This makes it the most expensive model out of the 10 BMW models in MoneyGeek’s analysis.

For drivers looking for the most affordable insurer, Progressive’s policies are the cheapest for this model, at an average of $1,750 per year. On the other hand, Allstate is the most expensive insurer at an average of $3,941 annually.

BMW i8 Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW I8 INSURANCE COSTS

The actual cost to insure a BMW i8 can still vary due to a number of factors, such as your age, model year and level of coverage.

  • Based on the model year of your BMW i8, auto insurance premiums can range from $2,407–$2,969 per year.
  • Young drivers often get higher premiums. An 18-year-old driver with a BMW i8 can expect to pay an average of $9,170 per year for insurance, while a 40-year-old will pay $2,810 on average.
  • For drivers who aren’t concerned with the cost, MoneyGeek also determined the best car insurance for a BMW i8 by examining different insurers’ claims ratings, user satisfaction and financial stability.

How Much Is Insurance for a BMW X7?

The average annual insurance premium for a BMW X7 across all model years is $2,030. MoneyGeek's analysis ranks this model as the second most expensive of the 10 BMW car models examined.

Progressive is the most affordable insurance provider for drivers shopping for this model, with policies costing $1,408 per year on average. Allstate, on the other hand, offers the most expensive policies at an average of $2,819 per year.

BMW X7 Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW X7 INSURANCE COSTS

BMW X7 insurance rates can still vary based on a number of factors, such as your age, model year and level of coverage.

  • The model year of your BMW X7 can change your rate. For the 2020 model, the average insurance rate is $2,030 per year. This is a relatively new model and pricing data is not yet available for other model years.
  • The average cost of auto insurance for an 18-year-old driver with a BMW X7 is $6,626 per year, which is far more than the $2,030 average cost per year for a 40-year-old driver.
  • MoneyGeek also looked at different insurance providers and their claims ratings, financial stability and user satisfaction to find the best auto insurance for a BMW X7 for drivers who are not solely concerned about the price of coverage.

How Much Is Insurance for a BMW 7 Series?

Insurance premiums for BMW 7 Series cars average $1,937 a year. This is the third most expensive BMW model out of the 10 models analyzed by MoneyGeek and is considered to be on the higher end of the spectrum when compared to other models and brands.

Progressive has the cheapest car insurance policy for a BMW 7 Series, averaging $1,585 per year. Allstate's policy is the most expensive for this model at an average of $2,509 annually.

BMW 7 Series Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW 7 SERIES INSURANCE COSTS

The cost to insure a BMW 7 Series is influenced by numerous factors like your age, driving record, model year and level of coverage needed.

How Much Is Insurance for a BMW 4 Series?

Of the 10 BMW models MoneyGeek analyzed, the BMW 4 Series ranks fourth for insurance costs, with policies costing an average of $1,769 per year. Compared to other makes and models, this is considered to be quite expensive.

With policies costing an average of $1,619 per year, Progressive is the cheapest insurer for this model. On the other hand, Allstate’s policies are the most expensive option for BMW 4 Series owners, at an average of $2,302 annually.

BMW 4 Series Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW 4 SERIES INSURANCE COSTS

The actual insurance cost of a BMW 4 Series car depends on different factors, such as the model year, the driver’s age and the level of coverage desired.

  • Depending on the model year of your BMW 4 Series, costs can range from $1,669–$1,868 per year on average.
  • The cost of auto insurance is also heavily influenced by the driver’s age. An 18-year-old driver with a BMW 4 Series will pay an average of $5,772 per year, which is far more than the average cost for a 40-year-old driver ($1,769 per year).
  • MoneyGeek also broke down the financial stability, claims rating and user satisfaction of different insurance providers in order to find the best car insurance for a BMW 4 Series for drivers who don't solely prioritize cost.

How Much Is Insurance for a BMW i3?

The average annual insurance premium for a BMW i3 across all model years is $1,673, ranking fifth out of the 10 major BMW models in MoneyGeek’s study. Although not outrageous, this premium is still relatively high compared to other brands and models.

Based on MoneyGeek's analysis, GEICO offers the cheapest policy for a BMW i3 with an average cost of $1,324 per year. On the other hand, Allstate has the most expensive policy with an average rate of $2,404 annually.

BMW i3 Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW I3 INSURANCE COSTS

The actual cost of car insurance for a BMW i3 can depend on factors such as your car’s model year, your age and the level of coverage you select.

  • The model year of your BMW i3 can significantly affect your auto insurance rates. For the 2020 model, car insurance costs an average of $1,673 per year.
  • Purchasing auto insurance for an 18-year-old with a BMW i3 costs an average of $5,460 annually, which is far more expensive than the average cost for a 40-year-old driver at $1,673 annually.
  • Without regard to costs, the best auto insurance for a BMW i3 depends on an insurer's user satisfaction, claims ratings and financial stability. To help you find the best option, MoneyGeek evaluated insurance providers based on these factors.

How Much Is Insurance for a BMW 3 Series?

Compared to other brands, insurance costs for BMW 3 Series owners are considered expensive at an average of $1,560 per year. This is also the sixth-most expensive BMW model in MoneyGeek’s analysis.

At an average cost of $1,346 annually, Progressive is the cheapest car insurance company for BMW 3 Series owners. Allstate, on the other hand, is the most expensive. Their policies cost an average of $1,947 per year.

BMW 3 Series Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW 3 SERIES INSURANCE COSTS

The cost of auto insurance for drivers with a BMW 3 Series can vary based on the model year, the driver's characteristics and the level of coverage they get.

How Much Is Insurance for a BMW 5 Series?

The average cost of insuring a BMW 5 Series is $1,502 annually, making it the seventh most expensive vehicle to insure out of the 10 most popular BMW models that MoneyGeek analyzed. Compared to other makes and models, this one is relatively expensive to insure.

Progressive offers the cheapest policies for a BMW 5 Series car at an average rate of $1,362 per year. In contrast, Allstate is the most expensive at an average of $1,918 annually.

BMW 5 Series Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW 5 SERIES INSURANCE COSTS

Keep in mind that premiums for a BMW 5 Series may vary based on factors like driver age, driving record, desired coverage level, model year and more.

How Much Is Insurance for a BMW X5?

Insuring a BMW X5 costs an average of $1,424 per year across all model years. It ranks eighth for insurance costs out of the 10 BMW models analyzed by MoneyGeek. This average is deemed moderate compared to all other car brands and models.

Progressive has the lowest insurance cost for the BMW X5, at an average of $1,217 per year. Allstate has the most costly policy, at an average of $1,784 per year.

BMW X5 Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW X5 INSURANCE COSTS

The cost of insurance for a BMW X5 may vary based on factors like driver age, level of coverage and model year.

  • Your insurance premiums will vary depending on the model year of your BMW X5. The average insurance cost can range from $1,116–$1,748 per year.
  • The average cost of insurance for an 18-year-old with a BMW X5 is $4,647 per year. This is $3,223 more than the average insurance cost for a 40-year-old driver.
  • By analyzing different insurers and their user satisfaction ratings, claims ratings and financial stability, MoneyGeek found the best car insurance for a BMW X5 for drivers who care more about quality than price.

How Much Is Insurance for a BMW X3?

The average annual cost of insuring a BMW X3 is $1,274. This model ranks ninth among the 10 BMW models that MoneyGeek evaluated and is considered affordable compared to models from other brands.

GEICO has the cheapest policies for this model at an average of $1,073 per year, while Allied has the most expensive policies at an average of $1,585 annually.

BMW X3 Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW X3 INSURANCE COSTS

Insurance rates for BMW X3s can vary based on the model year, the driver's characteristics and the type of coverage purchased.

  • Depending on the model year of your BMW X3, premiums may range from $1,035–$1,504 per year on average.
  • The average annual insurance premium for an 18-year-old driver with a BMW X3 is $4,157, which is $2,883 more than the average premium for a 40-year-old driver with the same car.
  • If cost isn’t your only priority, MoneyGeek also compared numerous insurers based on claims ratings, user satisfaction and financial stability for individuals looking for the best car insurance for a BMW X3.

How Much Is Insurance for a BMW 1 Series?

The average annual premium for a BMW 1 Series is $1,255, making it relatively inexpensive compared to other makes and models. It has the most affordable average premium out of the 10 BMW models that MoneyGeek analyzed.

GEICO has the lowest insurance rates for a BMW 1 Series car with an average annual premium of $1,096. Allied has the most expensive policies, costing an average of $1,448 annually.

BMW 1 Series Annual Insurance Costs

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EVERYTHING YOU NEED TO KNOW ABOUT BMW 1 SERIES INSURANCE COSTS

The actual insurance rates for the BMW 1 Series will vary depending on several factors. Auto insurers will consider your model year, driver characteristics and the type of coverage you need, among others.

  • Insurance rates change based on the model year of your BMW 1 Series. Insurance premiums for this model can range from $1,205–$1,305 per year.
  • Auto insurance premiums are also determined by age. For instance, an 18-year-old driver with a BMW 1 Series pays an average of $4,096 a year, which is $2,841 more than the premium for a 40-year-old driver.
  • For drivers who care more about quality over costs, MoneyGeek evaluated different insurance companies' financial stability, claims ratings and user satisfaction in order to determine the best car insurance for BMW 1 Series drivers.

FAQs About BMW Insurance

Drivers often wonder how much their insurance rates will be. The costs will largely depend on the actual model of their car. The answers to some frequently asked questions will also help you get a better idea of your BMW insurance costs.

Methodology

MoneyGeek collected information about insurance provider rates for BMWs using a sample driver profile. In this scenario, the driver is a 40-year-old male purchasing a full coverage policy with the following coverages:

  • $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

Rates represent averages and can provide guidance on what prices to expect but won’t match 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.