Compare the Cost of BMW X5 Insurance by Model Year and Company

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Updated: May 20, 2024

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Age impacts car insurance costs for a BMW X5. For a 2009 model, the average yearly cost for full coverage for a 16-year-old is $6,661, while a 40-year-old pays approximately $1,426. Similarly, a 16-year-old might incur a $10,075 annual expense for a 2022 model, while the premium for a 40-year-old hovers around $2,249.

Cost isn't the only factor in choosing an insurer. MoneyGeek evaluated the best insurance providers for a BMW X5, considering service excellence and claims management performance along with the price.

MoneyGeek Logo IconCar Insurance CostsBMW X5

Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a BMW X5.

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These rates were updated to reflect the average cost of car insurance for a BMW X5 as of 2023.

10Companies Compared
41,832 Quotes Analyzed

Average Cost and Cheapest Companies for Insuring a BMW X5

The average annual premium for insuring a BMW X5 with full coverage is $1,845. This amount may change from one insurance provider to the next. For full coverage, the cheapest car insurance policy is offered by State Farm at $1,471, while the most costly is offered by Allstate at $2,165. When comparing the cost of minimum coverage, State Farm is still the most affordable choice at $486, while Farmers is the steepest at $774.

Data filtered by:Results filtered by:
Coverage:Full Coverage
State FarmAverage Annual Premium$1,471
GEICOAverage Annual Premium$1,600
NationwideAverage Annual Premium$1,661
TravelersAverage Annual Premium$1,734
ProgressiveAverage Annual Premium$1,919
FarmersAverage Annual Premium$2,106
AllstateAverage Annual Premium$2,165

Is a BMW X5 Expensive to Insure?

Insurance companies consider multiple aspects when calculating car insurance costs for a BMW X5. Generally, insuring this vehicle can be quite costly, primarily because of its powerful engine and high horsepower. Vehicles with greater horsepower are often associated with faster speeds and more aggressive driving, leading to a higher likelihood of accidents. Insurance providers view high-horsepower cars as riskier to cover, resulting in increased insurance costs.

Best Companies for Insuring a BMW X5

When you are looking for car insurance for a BMW X5, cost should be only one factor to consider. It is also important to take service and claims into account to ensure you have the best car insurance to protect you financially during accidents.

Here are our suggestions for the best BMW X5 car insurance for full coverage:

  • State Farm: MoneyGeek score of 90 out of 100 ($1,471 per year)
  • GEICO: MoneyGeek score of 88 out of 100 ($1,600 per year)

State Farm offers excellent affordability and customer satisfaction.

MoneyGeek Top Pick: State Farm

State Farm



Ranks first in affordability


Great customer service


Offers roadside assistance and travel reimbursement/rental car coverage



Doesn’t offer gap insurance or accident forgiveness


Below-average claims performance


Lower coverage score


State Farm is a renowned car insurance company that is widely recognized for its affordability. The provider offers comprehensive insurance, including coverages such as rental car reimbursement and roadside assistance. In situations where rental vehicles become inoperable, State Farm provides extensive support to get drivers back on track and doesn’t get a lot of complaints from policyholders.

MoneyGeek's analysis highlights that BMW X5 owners can trust State Farm for competitive pricing and reliable service. The company's personalized approach to customers’ needs contributes to the company’s high satisfaction levels. It is important to note that State Farm is lacking in terms of coverage options and claims management, which can be two important criteria potential customers evaluate. Fortunately, it offers many discount opportunities that can help policyholders lower their premiums.

Read MoneyGeek's State Farm Auto Insurance Review

MoneyGeek Runner-Up: GEICO




Scores well in affordability


Great score in customer satisfaction


Offers accident forgiveness and roadside assistance



No new car replacement or better car replacement coverage


Lower score in coverage options


Scored lower in claims management


GEICO is one of the largest auto insurance providers in the country, with a long history of dependable service. It provides staple services, such as 24/7 roadside assistance and a mobile app, to add ease to every transaction. This is great for professionals looking for a straightforward service with a strong focus on convenience. Most customers have positive things to say about GEICO's customer service and numerous discounts that can help save you money.

This makes it a great choice for BMW X5 owners as it enables policyholders to enjoy strong insurance features without paying too high of a premium.

However, it helps to make sure that the coverage options you need are available. This provider does not offer a better car replacement, making it less than ideal for drivers that may want to purchase a costlier luxury car.

Read MoneyGeek's GEICO Auto Insurance Review

Cost of Insuring a BMW X5 by Model Year

The year of manufacture plays a crucial role in determining the average cost of car insurance. Typically, insurance providers charge higher premiums for brand-new cars since their repair and replacement can be higher. This principle applies to the BMW X5 as well. Insuring a 2009 model with full coverage costs approximately $1,426 per year, while you can expect to shell out around $2,249 annually for insurance on a 2022 model.

Data filtered by:Results filtered by:
Coverage:Full Coverage
2022Average Annual Premium$2,249
2021Average Annual Premium$2,052
2020Average Annual Premium$1,985
2019Average Annual Premium$1,974
2018Average Annual Premium$1,935
2017Average Annual Premium$1,851
2016Average Annual Premium$1,823
2015Average Annual Premium$1,768
2014Average Annual Premium$1,691
2013Average Annual Premium$1,671
2012Average Annual Premium$1,622
2011Average Annual Premium$1,528
2010Average Annual Premium$1,492
2009Average Annual Premium$1,426

Apart from the vehicle's model year, the average cost of car insurance can also vary among different insurers. For a 2009 BMW X5, State Farm offers the most budget-friendly option with an annual cost of $1,078. In contrast, Nationwide provides the most cost-effective coverage for the 2022 model, with a price tag of $1,663.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Coverage:Full Coverage
NationwideAverage Annual Premium$1,663
State FarmAverage Annual Premium$1,878
GEICOAverage Annual Premium$1,907
TravelersAverage Annual Premium$2,020
ProgressiveAverage Annual Premium$2,216
FarmersAverage Annual Premium$2,832
AllstateAverage Annual Premium$3,279

Cost of Insuring a BMW X5 for 16- to 25-Year-Olds

Insurance companies also factor in the driver's age when setting premiums. Car insurance for teenagers and young adults typically comes with a heftier price tag compared to those in their 30s and 40s. A 16-year-old BMW X5 driver may expect an average full coverage cost of $8,129 per year, but this plummets to a mere $1,791 for a 40-year-old behind the wheel. As young drivers mature, their rates experience a significant decline, ultimately leveling off in their 20s.

Data filtered by:Results filtered by:
Coverage:Full Coverage
16Average Annual Premium$8,129
17Average Annual Premium$6,624
18Average Annual Premium$5,844
19Average Annual Premium$4,093
20Average Annual Premium$3,715
21Average Annual Premium$2,869
22Average Annual Premium$2,656
23Average Annual Premium$2,470
24Average Annual Premium$2,346
25Average Annual Premium$2,105

Exploring car insurance options for teen drivers can help you uncover wallet-friendly premiums. State Farm offers the most budget-friendly full coverage policy for 16-year-olds driving a 2022 model at an annual rate of $6,117, while Allstate's hefty price of $13,854 tops the chart for this age bracket. It's worth noting that these prices relate to individual policies. By joining a family plan, teens can access significant savings. It’s also important to note that underage teens might need to have a guardian’s consent to purchase insurance.

Data filtered by:Results filtered by:
Model Year:
Model Year:2022
Coverage:Full Coverage
State FarmAverage Annual Premium$6,117
NationwideAverage Annual Premium$6,720
TravelersAverage Annual Premium$8,539
GEICOAverage Annual Premium$8,874
ProgressiveAverage Annual Premium$12,887
FarmersAverage Annual Premium$13,465
AllstateAverage Annual Premium$13,854

How Does Location Affect the Cost of BMW X5 Insurance?

The type and model of a car, its production year and the motorist's age are all vital factors influencing car insurance expenses. Nevertheless, the location might have an impact on the rates. Florida is the most expensive state, while Idaho boasts the most cost-effective premiums. Securing quotes from the most reasonably priced insurance providers in your region can be beneficial.

Data filtered by:Results filtered by:
Age Group:
Age Group:30-59
Coverage:Full Coverage
AlabamaCheapest CompanyNationwideAnnual Premium$709Monthly Premium$59
AlaskaCheapest CompanyState FarmAnnual Premium$699Monthly Premium$58
ArizonaCheapest CompanyRoot Insurance CompanyAnnual Premium$682Monthly Premium$57
ArkansasCheapest CompanyState FarmAnnual Premium$629Monthly Premium$52
CaliforniaCheapest CompanyAAA CaliforniaAnnual Premium$1,001Monthly Premium$83
ColoradoCheapest CompanyAmerican National P&CAnnual Premium$541Monthly Premium$45
ConnecticutCheapest CompanyGEICOAnnual Premium$693Monthly Premium$58
DelawareCheapest CompanyState FarmAnnual Premium$881Monthly Premium$73

Frequently Asked Questions About BMW X5 Insurance

Individuals searching for car insurance for a BMW X5 typically inquire about pricing and service. Below are a few frequently asked questions.

What company has the cheapest car insurance for a BMW X5?
What company offers the best car insurance for a BMW X5?

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.