How Much Is BMW Insurance?

The average cost to insure a BMW model is $4,049 per year for a 30-year-old driver. As a luxury vehicle manufacturer, BMW models can be expensive to insure. Expensive cars usually cost more to repair and replace.

BMW insurance costs by model

The cheapest BMW to insure with a full-coverage policy is the BMW X1, at a rate of $2,587 per year. The most expensive BMW model to insure is the i8, at $6,550 per year.

The cost of insurance varies based on location, age and driver history. You should always compare quotes from multiple insurers in order to find the best rate.

BMW 320i insurance cost

Based on the model years collected for our analysis, the average cost to insure a BMW 320i is $2,826 per year. This makes it the second-cheapest insurance out of all BMW models surveyed. The 320i also has the second-cheapest MSRP for the 2020 model at $40,750.

However, teenagers are more expensive to insure due to their greater tendency to be involved in at-fault accidents. The cost to insure a BMW 320i is $6,455 per year for an 18-year-old.

BMW 740i insurance cost

At a rate of $5,530 per year, the BMW 740i is the second-most expensive BMW model to insure for a 30-year-old male. For an 18-year-old male, an average full-coverage policy for the 740i costs $12,288 per year.

BMW i3 insurance cost

Our survey of rates found that the average cost of auto insurance for the BMW i3 is $2,927 per year, or $244 per month. This makes the BMW i3 the third-cheapest BMW model to insure out of the models we surveyed.

Younger drivers can expect to pay more, as the average annual cost to insure a BMW i3 for an 18-year-old is $6,775.

BMW i8 insurance cost

The BMW i8 has the most expensive insurance quotes out of the eight BMW models we surveyed. For our 30-year-old sample driver, the average cost of insurance for a BMW i8 is $6,550 per year. The average cost to insure an 18-year-old comes in at $14,705 per year.

The BMW i8, which is a hybrid electric sports car, also has the most expensive MSRP for a 2020 model, at $147,500.

BMW M4 insurance cost

The cost to insure a BMW M4 is slightly above average, at a rate of $5,308 per year for our 30-year-old sample driver. Younger drivers can expect to pay more, as the average cost to insure a BMW M4 is $12,138 per year for an 18-year-old.

BMW X1 insurance cost

Of the eight BMW models we surveyed, the BMW X1 has the cheapest insurance rate, at $2,587 per year for our 30 year-old sample driver. The BMW X1 also has the cheapest rate for an 18-year-old driver, at $5,890 per year.

The 2020 BMW X1 has an MSRP of $35,200, which is the cheapest of all the BMW models we surveyed.

BMW X4 insurance cost

The average cost to insure a BMW X4 is $3,196 per year, which is slightly below average for all eight BMW models. The average cost to insure a BMW X4 is $7,281 per year for an 18-year-old.

BMW X6 insurance cost

Our analysis of rates found the average cost to insure a BMW X6 is $3,468 per year for our 30-year-old driver. Insurance rates varied by $1,053 across model years. The average cost to insure a BMW X6 for an 18-year-old is $7,866 per year.

Methodology

To find the average costs of insuring BMWs, our analysis included quotes for two sample drivers: a 30-year-old male and an 18-year-old male. The BMW insurance quotes we used were for a full-coverage policy with the following limits:

Our study used insurance rate data from Quadrant Information Services. The quotes used were publicly sourced from insurer filings and should only be used for comparative purposes. Actual quotes for these BMW models may differ from the estimates provided.