Compare the Cost of BMW i8 Insurance by Model Year and Company

According to MoneyGeek’s data, BMW i8 insurance rates average $2,810 per year, almost double the overall average insurance cost for all models. The BMW i8 is expensive to insure compared to most other cars. Prices may vary depending on your insurance company and model year.

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To reduce your BMW i8 insurance cost, you should shop around and compare quotes to find the best prices. Different providers offer different rates to insure the same car. The cheapest carrier could change depending on the model year or your driver profile.

Key Takeaways

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The average BMW i8 insurance quote is $2,810 per year, compared to about $1,428 for the average car model.

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The BMW i8 insurance cost can differ by as much as $2,192 per year, depending on the provider.

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BMW i8 insurance rates can change by up to $562 depending on the model year. Insurance prices are generally lower for older models.

How Much It Costs to Insure a BMW i8 and the Cheapest Company

The insurer you choose can play a huge role in your BMW i8 insurance costs. The average rate to insure a BMW i8 is $2,810, but this price can vary depending on the provider. The cheapest car insurance provider for this model is Progressive, with an average annual rate of $1,750. At the high end, Allstate’s coverage costs $3,941. Thus, if you compare quotes, you can save as much as $2,192 per year.

The Average Annual Cost of BMW i8 Insurance by Company

MoneyGeek captured data about car insurance rates using a consistent sample driver profile. The sample driver has 100/300/100 liability insurance with comprehensive and collision coverage.

The Average Cost to Insure a BMW i8 by Company

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Is a BMW i8 Expensive to Insure?

Providers utilize multiple factors to determine the car insurance cost of any model. Expensive models, those that are more likely to be involved in a crash and those with high chances of getting stolen generally have higher insurance costs.

The BMW i8 is an expensive model to insure because it is a high-value car, with an MSRP of $148,495. The vehicle's high value makes it riskier for insurers to cover, so they charge higher premiums for it.

The Best Car Insurance Company for a BMW i8

Consumers should consider other vital factors in addition to cost when picking an insurer. MoneyGeek ranked car insurance companies based on affordability, customer complaints, financial stability and customer satisfaction. Progressive is the best insurer for the BMW i8 based on these factors.


1
Progressive
Score:90

5/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

2
GEICO
Score:85

4.6/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

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
USAA
Score:81

3.4/5

Affordability

4.5/5

Claims Ratings

5/5

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 i8 by Model Year

Older versions of the BMW i8 tend to be less expensive to insure because as a car’s value depreciates, collision and comprehensive insurance become cheaper. The average car insurance price difference between the oldest BMW i8 year (2014) and the newest (2020) is $502. Different insurers may present cheaper options depending on the model year.

With an average annual rate of $1,217, Progressive is the cheapest provider for the most recent i8 model year available (2020). You can pick your model year to see how prices compare, as the most affordable carrier can change depending on the year.

The Average Cost to Insure a BMW i8 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.
    $1,217
    $1,215
    $2,085
    $2,042
    $2,174
    $1,765
  • 2.
    $2,311
    $2,208
    $1,332
    $2,494
    $2,383
    $2,270
  • 3.
    $2,435
    $2,360
    $2,850
    $2,774
    $2,697
    $2,036
  • 4.
    $2,936
    $2,985
    $2,517
    $2,540
    $2,681
    $2,344
  • 5.
    Allied
    $2,305
    $2,298
    $3,338
    $3,345
    $3,357
    $3,046

How Expensive Is It to Insure a BMW i8 Compared to Other Cars?

The BMW i8 is expensive to insure compared to other car models. The average annual BMW i8 insurance rate is $2,810, which is $1,382 higher than the average cost of car insurance across all models in MoneyGeek’s data.

How Much It Costs to Insure a BMW i8 for 16- to 25-Year-Olds

Younger drivers typically pay higher car insurance rates because of their inexperience. For their BMW i8 insurance, an 18-year-old driver needs to pay an average of $9,170 per year, $6,360 more than the average premium for a 40-year-old driver.

You can find the cost of car insurance for young drivers aged 16–25 below. Teen drivers can save money by sharing a car insurance policy with their parents rather than purchasing their own coverage.

The Average Cost to Insure a BMW i8 by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $11,756
  • 17
    $10,414
  • 18
    $9,170
  • 19
    $6,568
  • 20
    $5,862
  • 21
    $4,640
  • 22
    $4,275
  • 23
    $3,911
  • 24
    $3,671
  • 25
    $3,331
  • 40
    $2,810

How Does Location Affect the Cost of BMW i8 Insurance?

These rates are national averages, and location can significantly influence your car insurance costs. You can use MoneyGeek’s state page analysis to get more details on auto insurance prices in individual states.

FAQs About BMW i8 Insurance

Your car model is only one of the factors that determine your car insurance premiums. You can find more information about BMW i8 insurance rates from our answers to frequently asked questions on the topic.

Read More About Car Insurance

Methodology

MoneyGeek captured thousands of insurance rates for the BMW i8 across all available model years. The prices are for a full coverage policy with:

  • $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

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.