BMWs cost around $50 monthly for minimum coverage car insurance and $171 for full coverage. The automaker ranks 18th in affordability for minimum coverage and 21st for full coverage among the vehicle manufacturers we studied.
BMW Car Insurance
Updated: June 18, 2025
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Key Takeaways
State Farm offers the best and cheapest overall car insurance for BMWs with rates starting at $36 monthly for minimum coverage and $126 for full coverage.
Depending on various factors like age, model, and coverage level, BMW auto insurance costs can range anywhere from $394 to $819 annually for state minimum coverage.
BMW ranks 21st out of 23 automakers in our study for full coverage and 18th for minimum coverage, placing it on the more expensive side for car insurance.
How Much Is BMW Insurance on Average?
Coverage Level | Average Monthly Rate | Average Annual Rate | Affordability Ranking (Out of 23) |
|---|---|---|---|
Minimum Coverage | $50 | $599 | 18th |
Full Coverage | $171 | $2,051 | 21st |
*Rates are for a 40-year-old driver with good credit and no driving violations insuring 2012 to 2022 models for the BMW Model 3, Y, X and S.
BMW Car Insurance Cost by Model
The most expensive model from BMW for insurance is the BMW i8, costing $64 for state minimum coverage and $267 for full coverage monthly. The most affordable model is the BMW 4 series, with average monthly rates of $49 for state minimum coverage and $113 for full coverage.
| BMW X5 | $628 | $1,791 |
| BMW 7 Series | $754 | $2,454 |
| BMW I3 | $601 | $1,671 |
| BMW 3 Series | $630 | $1,642 |
| BMW X3 | $617 | $1,490 |
| BMW X7 | $686 | $2,344 |
| BMW 4 Series | $577 | $1,901 |
| BMW 1 Series | $581 | $1,670 |
| BMW 5 Series | $623 | $1,802 |
| BMW i8 | $762 | $3,206 |
*Rates are for a 40-year-old driver with good credit and no driving violations for model years ranging from 2012 to 2022.
BMW Car Insurance Cost by Model Year
Typically, we have found that pricier and newer cars like a BMW cost more to insure. Below, compare insurance costs for your BMW by model and year.
Data filtered by:Results filtered by:
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Model Year:2009
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BMW Model:BMW 1 Series
| BMW 1 Series | 2009 | $607 | $1,314.08 |
*Rates are for a 40-year-old driver with good credit and no driving violations.
BMW Car Insurance Cost by Age
Teen drivers pay the most for BMW insurance, but as you get older, the price drops. Once you hit 60, though, it starts to go up a bit. BMW insurance can range from $592 to $8639 a year, depending on how old you are and if you choose minimum coverage or full coverage. Check out the table below to see the average costs for each age group.
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Age:16
| 16 | $3,113 | $8,639 |
*Rates are for a driver with good credit and no driving violations.
Is BMW Insurance Expensive?
BMW's high value and costly parts often lead to higher insurance premiums compared to other automakers. Insurers consider these factors when setting rates due to potential repair and replacement costs post-accident. Safety is also a factor, with BMW drivers ranking 7th in a recent LendingTree study on incidents by car brand meaning that insurers may view those drivers as a riskier investment.
How Expensive Is BMW Insurance Compared to Similar Vehicles?
To see how BMW stacks up to the competition in terms of auto insurance prices, we've compared a BMW X3 to similarly priced luxury SUVs in terms of MSRP. In the table below, you can see the costs for both full and minimum coverage for each make and model.
Make and Model | Average MSRP | Annual Minimum Coverage Rate | Annual Full Coverage Rate |
|---|---|---|---|
BMW X3 | $55,395 | $609 | $1,702 |
Audi Q5 | $54,095 | $574 | $1,776 |
Mercedes GLA 250 | $47,300 | $612 | $1,658 |
BMW Model Y | $49,380 | $623 | $2,189 |
Cheapest BMW Car Insurance Companies
The most affordable car insurance company for BMWs is State Farm, with average monthly rates of $36 for state minimum coverage and $125 for full coverage. Close behind are GEICO, Travelers, Nationwide, and Progressive, offering competitive rates for BMW owners seeking reliable insurance.
| State Farm | $36 | $126 |
| GEICO | $37 | $136 |
| Travelers | $43 | $146 |
| Nationwide | $59 | $151 |
| Progressive | $51 | $165 |
Cheapest Car Insurance by Model
While the above companies offer the most affordable overall insurance, for BMW models, State Farm provides the cheapest minimum coverage for all models except one in our study. In the table below, you can see the cheapest provider for each model overall.
| BMW 1 Series | State Farm | $35 | $110 |
| BMW 3 Series | State Farm | $36 | $106 |
| BMW 4 Series | State Farm | $35 | $135 |
| BMW 5 Series | State Farm | $36 | $119 |
| BMW 7 Series | State Farm | $36 | $158 |
| BMW I3 | GEICO | $33 | $107 |
| BMW i8 | State Farm | $38 | $202 |
| BMW X3 | State Farm | $35 | $100 |
| BMW X5 | State Farm | $36 | $123 |
| BMW X7 | State Farm | $33 | $144 |
Cheapest BMW Car Insurance by Model Year
Explore the table below for the most affordable car insurance tailored to your BMW model and year.
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Model:BMW 1 Series
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Model Year:2009
| State Farm | $394 | $964 |
| GEICO | $445 | $1,090 |
| Travelers | $506 | $1,179 |
| Allstate | $598 | $1,312 |
| Nationwide | $573 | $1,390 |
Cheapest BMW Car Insurance by Age
The lowest overall BMW Insurance rates by age vary anywhere from $54 per month to $829 monthly, offered by State Farm. Below, you'll find the top five most affordable providers broken down by different ages for BMW vehicles.
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Age:40
| State Farm | $484 | $1,509 |
| GEICO | $497 | $1,627 |
| Travelers | $587 | $1,756 |
| Nationwide | $810 | $1,817 |
| Progressive | $703 | $1,975 |
Best Car Insurance for BMW Vehicles
From our research, we found that the best overall companies to insure your BMW with are State Farm, GEICO, Travelers, Nationwide, and Progressive. Each company has a great mix of low rates, extensive coverage options, and good customer service reputations.
| State Farm | 90 |
| GEICO | 88 |
| Travelers | 88 |
| Nationwide | 85 |
| Progressive | 83 |
State Farm: Best for Most BMW Drivers
pros
High customer satisfaction ratings
Lowest rates for most BMW drivers
Extensive discounts for young drivers
cons
Smaller coverage selection
COMPANY HIGHLIGHTS
For BMW drivers, State Farm has the cheapest rates overall for their vehicles, with the lowest possible premiums for almost all of the models we studied, regardless of driver profile. The company stands out most for its higher-than-average customer service and claims satisfaction, ranking 6th overall for claims satisfaction according to J.D. Power. They also offer particularly attractive discounts for drivers under 25 with reductions for students and a defensive driving program that can save you up to 20%.
GEICO: Best for Electric BMW Owners
pros
Most affordable rates for electric BMWs
Great customer satisfaction ratings in the North East and for their Usage-based program
Most extensive discount selection, especially for federal employees and military
cons
Lower than average customer service ratings nationwide
Expensive rates for all other BMW models
COMPANY HIGHLIGHTS
Although it's not the most affordable option for most BMW models, GEICO stands out as the top provider for the electric BMW owners. It offers the most affordable rates for the all-electric BMW I3 at as low as $33 monthly. Out of all of the providers on our list, GEICO also offers the most extensive discount selections with unique premium reductions for federal employees, military, and younger drivers that can save you up to 25%. This includes its DriveEasy program, which can save you up to 30% on premiums, and ranks 2nd nationwide according to J.D. Power.
Nationwide: Best for New BMW Owners
pros
Offers a pay-per-mile program and unique add-on coverages
Low cost policies for newer BMW vehicles
Highest-rated usage-based discount program in the country
cons
Much lower than average customer satisfaction nationwide
COMPANY HIGHLIGHTS
While not the most affordable for most models overall, Nationwide does offer some of the lowest rates for newer BMWs. It offers coverage options for a pay-per-mile car insurance program called SmartMiles and a vehicle value upgrade add-on that replaces your car with a new vehicle of comparable value if your car is totaled. The company also has the best customer satisfaction rating for their usage-based car insurance discount program SmartRide, according to J.D. Power (tied for the largest possible discount in the nation of up to 40%)
How to Find the Best Cheap Car Insurance Company for Your BMW
Discover affordable BMW insurance with our straightforward tips to help you save on your policy.
- 1
Assess your needs
Find the insurance coverage suitable for you, your comfort level with deductibles, and any optional coverages that could save costs in an accident. Use tools like our car insurance coverage needs calculator to receive tailored advice and explore your options.
- 2
Research average costs and discounts
Explore the insurance costs for your BMW and check for discounts that align with your car model and driving profile, so you can maximize them when scouting through different providers.
- 3
Compare multiple providers
Obtain quotes from various insurers. Research each company's reputation, discount offerings, and coverage details to ensure you select a provider that aligns with your needs and preferences.
- 4
Consider BMW's insurance program
Check out BMW's specialized insurance partnerships, which often provide tailored coverage that takes into account your vehicle's advanced safety features and driver assistance technologies. Many BMW drivers have found competitive rates through these manufacturer-endorsed programs.
BMW Auto Insurance Cost: Bottom Line
BMW vehicle insurance ranks 21st for full coverage and 18th for state minimum, indicating higher costs. Yet, more affordable options are within reach. We advise comparing quotes from various providers to secure the best value.
BMW Car Insurance: FAQ
Here are expert answers from MoneyGeek to common questions about BMW car insurance.
Which insurance company is the cheapest for BMW?
For BMW car insurance, State Farm, GEICO, and Travelers are the most affordable providers.
How much is BMW car insurance?
BMW car insurance costs on average $1,708 per year for full coverage and $600 annually for state minimum coverage. Monthly, you'll pay about $171 for full coverage and roughly $50 for minimum coverage.
Is car insurance on a BMW more expensive?
Yes, car insurance on a BMW is generally more expensive due to its status as a luxury brand, which often translates into higher MSRPs and elevated repair costs. BMW vehicles can also come with advanced technology and performance features that are costlier to repair or replace.
Which BMW model is the cheapest to insure?
Overall, the BMW X3 model year 2020 is the cheapest overall BMW to insure largely due to its lower value and repair costs.
How We Determined BMW Auto Insurance Costs
We calculated BMW insurance costs using data from Quadrant Information Services. Rates are based on the following driver profile:
- 40-years-old
- Good credit
- No driving violations
- 12,000 miles driven annually
Coverages used for minimum coverage are based on state requirements. Full coverage includes a 100/300/100 liability insurance split and comprehensive and collision coverage with a $1,000 deductible.
How We Chose Best and Cheapest Car Insurance for BMWs
To calculate the best car insurance for BMW vehicles, MoneyGeek used a comprehensive scoring system based on five key factors:
- Customer satisfaction (35%): Measured using J.D. Power's study and the National Association of Insurance Commissioners (NAIC) complaint index
- Affordability (30%): Assessed by comparing rates from Quadrant Information Services
- Claims (20%): Evaluated through the J.D. Power Claims Study and CRASH Report Card
- Coverage (10%): Focused on roadside assistance, rental car reimbursement, OEM coverage and gap insurance
- Stability (5%): Determined by AM Best ratings on financial health
Data Sources
- AM Best: Financial strength ratings for insurers
- J.D. Power: Industry research and analytics
- NAIC: Consumer complaint and insurance data
- Quadrant Information Services: Car insurance pricing and comparative data
Analysis
MoneyGeek reviewed 80,676 quotes from seven companies using a standard driver profile (male, 40 years old, single, clean record) while adjusting for age, location and driving history.
Coverage Levels and Deductibles
- Minimum coverage: Covers damage to other's property
- Full coverage: Includes comprehensive (e.g., fire, weather) and collision (e.g., accidents) insurance
- Deductibles: Out-of-pocket costs before insurance payment starts
The term 100/300/100 means:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
Learn more about MoneyGeek's methodology.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- LendingTree. "Tesla, Ram, Subaru Have Worst Drivers, While Mercury, Pontiac, Cadillac Have Best." Accessed June 18, 2025.