
5/5
Affordability
4/5
Claims Ratings
3/5
User Satisfaction
4.5/5
Financial Stability
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.
The average BMW i8 insurance quote is $2,810 per year, compared to about $1,428 for the average car model.
The BMW i8 insurance cost can differ by as much as $2,192 per year, depending on the provider.
BMW i8 insurance rates can change by up to $562 depending on the model year. Insurance prices are generally lower for older models.
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.
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.
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Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
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.
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 auto insurer for the BMW i8 based on these factors.
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.
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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.
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.
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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.
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.
About Mark Fitzpatrick