Compare BMW Car Insurance Rates

Looking for car insurance for your BMW? You’ve come to the right place. Check out our latest guide below on everything you need to know about car insurance for BMW cars and SUVs.

by Nick Versaw Updated March 9th, 2022

The BMW is an iconic luxury vehicle, and it’s easy to see why so many drivers are loyal BMW owners. Operating out of Germany, BMW first opened its manufacturing location in 1916 to design aircraft engines. Today, BMW vehicles are marketed not only under the BMW name, but also under the Mini and Rolls-Royce branding. All BMW vehicles are known for being top-quality, dependable automobiles that make your time behind the wheel an enjoyable experience. 

Whether you’re planning to buy your first BMW or are shopping around for car insurance for your current one, it’s helpful to compare BMW car insurance rates to ensure you’re getting a good deal. While BMW insurance can be more expensive than what you’d pay to insure a less valuable vehicle, comparing rates and knowing just what coverage you need can help you to keep your premium costs down.

Cost of BMW Insurance

On average, BMW car insurance monthly premiums cost 25% more than the average rate for all cars. The average premium for all vehicles is $106 per month, while BMW averages $132 per month. 

Many factors can affect your premiums, though. Rates vary by company, by vehicle model, by vehicle age, and much more. If you’re shopping for a new car, you might want to consider how your BMW model can affect the rates that you’ll pay.  

While knowing average rates is helpful information to keep on hand, the best way to know how much you should be paying for car insurance is to compare rates provided by different insurance companies. At Compare.com, we compare premiums of 60+ insurance companies to make it easy. All you have to do is enter your zip code below to get started. 

BMW Car Insurance Rates by Model

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1 Series

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2 Series

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3 Series

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4 Series

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5 Series

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6 Series

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7 Series

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8 Series

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i3

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i8

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M2

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M3

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M4

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M5

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M6

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M8

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X1

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X2

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X3

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X4

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X5

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X6

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X7

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Z4

The average BMW insurance premium may be $106 per month, but rates can vary depending on your vehicle’s model. Certain BMW models, particularly those that are less expensive, have lower average monthly premiums. If you’re planning to splurge on an upper-end model, you can expect to see higher premiums. 

Here are the average monthly premiums for some of the most popular BMW models. 

328

The BMW 328 is a sporty compact luxury sedan powered by a four-cylinder engine. It’s available as a six-speed manual or eight-speed automatic and features a comfortable interior spacious enough for families. Monthly premiums for the 328 average $129. 

325

Available as a convertible, coupe, sedan, or wagon, the BMW 325 features a six-cylinder engine and a slightly larger design for more space. It’s a more economical model, and insurance premiums average just $83 per month. 

X5 

The BMW X5 is a sporty, agile SUV that’s an ideal choice for families. It’s capable of light towing jobs and features seven seats, making it perfect for road trips. Monthly premiums for the X5 average $130. 

X3

Offering power and versatility, the BMW X3 is a compact SUV with five seats. It offers a luxurious ride and great gas mileage, making it ideal for commuting, towing, and smaller families. Expect to pay an average of $119 per month to insure your X3. 

528

The four-door 528 is an eye-catching luxury sedan. It’s also available in a Gran Turismo hatchback body style, and comes in rear- or all-wheel drive options. Monthly premiums for the 528 cost an average of $147. 

330

The 330 is one of BMW’s more economical sedans. Its five seats offer plenty of space for a smaller family, and the 330 is available in an i and i xDrive trim. Monthly premiums average $107. 

535

The BMW 535 is available in both sedan and Gran Turismo hatchback body styles. It’s sleek and comes in three engine size options, ensuring great gas mileage and making it a popular choice for commuters and families. Expect to pay an average of $154 per month to insure the 535. 

525

The 525 sedan features a distinctive appearance, perfect for drivers who love to stand out. This luxury vehicle is known for its excellent handling and stability, as well as its more economical price point. The 525 costs an average of $78 per month to insure. 

530

This high-end luxury sedan is a popular choice for families. It’s also available as a plug-in hybrid, M Performance, and M5 version, and you can opt for a hands free driving system for even greater luxury. Monthly premiums for the 530 cost an average of $138. 

BMW Car Insurance Rates by Insurance Company

Every car insurance company uses its own algorithm to determine your car insurance rates and monthly premium. Below are some of the companies that have the least expensive and most expensive BMW car insurance premiums. 

Least Expensive BMW Car Insurance Rates

Insurance Company Monthly Premium
Mercury Insurance $97
Gainsco $100
MetroMile $103
Direct Auto $107
Infinity $109

Most Expensive BMW Car Insurance Rates

Insurance Company Monthly Premium
Mercury $165
Good2Go $173
Travelers $173
Plymouth Rock $174
Liberty Mutual $180

The differences in these insurance premiums highlights how important it is to compare quotes when you’re shopping for car insurance. Some companies, like Mercury Insurance and Gainsco, offer premiums for $100 or less. Others, like Plymouth Rock and Liberty Mutual, are much more expensive and cost more than $170 per month. 

When you gather and compare your quotes, remember to look beyond just the monthly premium. Consider other important factors like coverage limits and deductibles to determine the real value that each policy offers. 

Ready to start the simple process of getting the best rate for your BMW insurance? Just enter your zip code below. 

BMW Features That Impact Insurance Cost

Multiple factors can impact what you’ll pay for your BMW car insurance. When calculating your rates, an insurance company will first consider the value of your vehicle. A new, high-end model will cost more to insure than a less expensive model, simply because the vehicle’s repair and replacement costs are so high. 

Whether the vehicle is new or used also plays a role, since its value will have decreased with time and use. Other elements that increase your vehicle’s value, like its trim level and luxury finishes, can also drive up your insurance costs. 

BMWs are often equipped with safety devices, like anti-theft systems, and these devices can potentially get you a discount on your insurance. Since these devices reduce the risk of your vehicle being stolen, your insurance company may reduce your premiums a bit as long as an approved device is installed. You’ll need to check with each insurance company about which devices they approve, since those devices can vary from company to company. 

If you want to save money, consider purchasing a less expensive BMW model. Think about buying the vehicle used to help to keep your costs down, and look for a base trim model, rather than one that’s been accessorized and upgraded. Also Consider how much of your new car purchase you’ll need to finance; if you have a high car loan, then you’ll probably need gap insurance, which will increase your costs. Most finance companies also require you to maintain the more expensive comprehensive and collision coverages if you have a lease or loan on your vehicle. 

Additional Ways to Save on BMW Car Insurance

It’s also important to remember that factors beyond your vehicle will affect your insurance rates, too. Your age and location, as well as how much your drive, can all keep your rates up or down. Many insurance companies consider your credit rating when determining whether you’re a high-risk driver to insure. Your past driving habits also play a role in your rates, especially if you’ve recently been at fault for an accident or have received speeding tickets

Your BMW insurance costs will also depend on the coverage that you need. You’ll need to verify that your insurance meets the minimum requirements of your state, but it’s also worth considering additional coverage beyond those minimums. Collision and comprehensive insurance can give you peace of mind that your vehicle will be protected if you collide with an object, regardless of if you’re at fault. Rental insurance can help to cover the costs of a rental car if your vehicle is damaged in an accident. There are many ways you can customize your auto insurance to ensure it meets your needs. 

How to Choose the Best BMW Car Insurance for You

As you explore different companies, look for discounts that can help you to save additional money. Many companies offer multi-car discounts, or will discount your rates when you bundle your car insurance with homeowners insurance. If you have a good driving history, look for a company that offers a good driver discount. And if your BMW is a vehicle that you only drive for fun in good weather, then you could potentially save money by choosing a company that offers a low mileage discount. 

You might be tempted to choose the plan with the least expensive premium, but make sure that you’re choosing a reputable company. Read reviews and look for details about the quality of the company’s customer service, as well as what their claims experience is like. You don’t want to choose a company just because they offered a low rate, only to discover that getting them to pay out your claim is a long and arduous process. 

Rather than choosing the company with the cheapest rates, look for a balance of a quality insurance experience and overall value that the company offers. If you feel that premiums are too high, think about opting for a higher deductible, which can lower your premiums. You’ll need to pay more upfront if an accident does occur, but lower premiums would leave you with more money in your wallet in the meantime. 

FAQs About BMW Car Insurance

Are BMW cars more expensive to insure?

BMW vehicles are usually more expensive to insure than other vehicles because the vehicles, themselves, are more valuable than most of the other vehicles on the road. When calculating your monthly premium, an insurance company will weigh factors like the value of the vehicle and the cost of replacing or repairing it. BMW parts are particularly expensive, mainly because BMW uses high-end manufacturers and many parts are imported from Germany, so you’ll see those costs reflected in higher insurance premiums. 

Does BMW have their own car insurance?

BMW doesn’t offer traditional car insurance, but you might want to consider the BMW Ultimate Protection Program, which helps to cover various parts of your vehicle. This program is available for new and used BMWs, and is offered in several tiers. 

BMW also offers Guaranteed Auto Protection (GAP) coverage that covers some or all of the difference resulting from your vehicle’s value and the balance that remains on your loan. This is the same type of GAP insurance that you would purchase from a traditional auto insurance company, and it would go into effect if your car is declared a loss after an event like a natural disaster or theft. 

How much does BMW insurance cost?

The cost of your BMW insurance will depend on the model, age, and value of the vehicle you drive, as well as other factors like your driving history and age. Keep in mind that these different prices can reflect different coverages, limits, and deductibles, too. 

Because costs can vary significantly between different car insurance companies, it’s important to gather and compare quotes to determine which option is really best for you. Compare.com makes that easy, and you can gather quotes from up to 65 car insurance companies at a time. Get started with Compare.com today and see exactly what it will cost to insure your BMW.

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