Car Insurance CostsBMW X3Compare the Cost of BMW X3 Insurance by Model Year and Company
Compare Rates and Save on Car Insurance
By , Content Director
Updated: Nov 8, 2023
Insurance rates for a BMW X3 vary depending on the driver's age and the car's model year. For example, insuring a 16-year-old driving a 2009 model costs $6,187, while insuring a 40-year old costs $1,331. Insurance for a 2022 model costs $7,712 for a 16-year-old and $1,702 for a 40-year old driver. MoneyGeek has identified the best insurers that balance affordability, service and claims experience.
Car Insurance CostsBMW X3Table of Contents
Average Cost and Cheapest Companies for Insuring a BMW X3
BMW X3 insurance costs an average of $1,535 annually, but the provider you choose can significantly impact your premiums. For full coverage, State Farm is the cheapest option at $1,206 per year, while Farmers is the most expensive at $1,833 per year.
State Farm is the cheapest provider for minimum coverage at $471 per year, while Farmers is the most expensive at $778 per year. Since prices can vary based on factors like driver age, location and driving history, always compare rates from multiple providers to find the best deal.
Is a BMW X3 Expensive to Insure?
Insurers consider many factors when determining car insurance premiums for a BMW X3. This model series is expensive to insure because the National Highway Traffic Safety Administration (NHTSA) reports it is stolen more often than the average rate. A BMW X3 is a high-value car with an MSRP of $44,695. In addition, sports cars are also more expensive to insure because drivers tend to engage in risky behavior.
Best Companies for Insuring a BMW X3
When shopping for BMW X3 insurance, cost is only one factor to consider. The best car insurance companies also provide excellent customer service and claims experience.
Based on MoneyGeek's rating, State Farm and GEICO are the top-rated insurers for the BMW X3.
- State Farm: MoneyGeek score of 90 out of 100 ($1,206 per year)
- GEICO: MoneyGeek score of 89 out of 100 ($1,265 per year)
While State Farm scored the highest in customer satisfaction, GEICO performed slightly better in claims experience. However, both insurers received the same rating for coverages offered.
MoneyGeek Top Pick: State Farm
pros
Has the lowest premium
Good customer satisfaction rating
Roadside assistance coverage
cons
Limited add-on coverage options
Below-average claims handling score
COMPANY HIGHLIGHTS
State Farm is the best car insurance provider for a BMW X3, offering the lowest premium and the second-highest customer satisfaction score. It offers rental car and/or travel reimbursement and roadside assistance as add-ons.
State Farm offers rental car and travel reimbursement, which covers car rental expenses up to certain limits, travel expenses and repayment of up to $500 of the deductible if you cause an accident in your rental car. Additionally, the company provides roadside assistance, which pays for mechanical labor for up to one hour, towing, delivery of gas, oil, battery or change of tire and locksmith labor for up to one hour to unlock a covered car.
MoneyGeek Runner-Up: GEICO
pros
Second most affordable premium
Good customer satisfaction rating
cons
Limited add-on coverage options
Below-average claims experience rating
COMPANY HIGHLIGHTS
GEICO is a popular car insurance provider that offers comprehensive coverage options for BMW X3 drivers. While its add-on options are limited, it provides coverages most drivers will find useful. The company offers rental car and travel reimbursement coverage, which pays for a rental car if your vehicle is unusable due to a covered accident.
GEICO’s mechanical breakdown insurance (MBI) offers coverage for all parts and systems at a more affordable cost than most dealer-extended warranties. It's available for new or leased cars under 15 months old and with less than 15,000 miles.
The company offers accident forgiveness coverage, which policyholders can purchase or earn if they are 21 and have not had an accident in the past five years. This coverage prevents your rate from increasing after your first at-fault accident. However, it is not available in Massachusetts, California and Connecticut.
Cost of Insuring a BMW X3 by Model Year
Insurance rates for a 2022 BMW X3 are around $1,702 per year, while insuring a 2009 model costs $1,331 annually. Newer model years are typically more expensive due to higher values and repair costs.
Average car insurance rates vary depending on the model year and the insurance company. State Farm provides the most affordable full coverage rates for the BMW X3 2009 and 2022 models, at $1,056 and $1,361 per year, respectively.
Cost of Insuring a BMW X3 for 16- to 25-Year-Olds
The cost of car insurance for a BMW X3 can vary depending on the driver’s age. On average, insuring a BMW X3 for a 16-year-old driver can cost up to $6,841 per year, while a 40-year-old driver can expect to pay around $1,490 annually.
Insurance rates decrease with age and tend to level off when drivers reach their 20s. Factors such as location, driving record and coverage options can also affect rates for a BMW X3, so always shop around for the best rates.
Adding a teen driver to an existing family plan is often cheaper than purchasing individual teen car insurance. State Farm offers the cheapest insurance for a 16-year-old BMW X3 driver at $4,398 annually, while Farmers is the most expensive at $10,546 per year. Teens and their families should compare rates from multiple providers to find the best value.
How Does Location Affect the Cost of BMW X3 Insurance?
While the model year and driver’s age affect BMW X3 insurance rates, location can be even more important. The cheapest insurance company for a sample car can vary across states, so always obtain quotes from the cheapest providers in your area.
Frequently Asked Questions About BMW X3 Insurance
MoneyGeek answers commonly asked questions about car insurance for a BMW X3.
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