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It costs more to insure a BMW 8 series than the average car.
Full coverage auto insurance for a 8 series comes in at around $347 a month, on average, while liability only insurance usually runs about $75.
Workmens is the lowest insurance carrier for a 8 series.
With base prices starting at $84,900 for 2020 models, the BMW 8 series is a high-end car on the more expensive end of the spectrum. There are three different trim levels currently available, so you'll be sure to find an option to fit your style.
We crunched the numbers on thousands of car insurance quotes on Compare.com, and we've determined that, on average, BMW 8 series auto insurance rates run around $334 per month. But how does that compare to other cars on the market?
| Current Base Price | $84,900 |
| Body Style(s) | Car |
| Trim Levels | 840I, 840XI, M850XI |
| Average Insurance Premium | $334/mo. |
| Cheapest Insurance Company | Workmens |
Vehicle | Liability Only | Full Coverage |
|---|---|---|
| BMW 8 series | $75 | $347 |
| All BMW Models | $84 | $199 |
| All Cars | $83 | $177 |
| Average Insurance Premium | $81 | $169 |
In the table above, you'll find that compared to other vehicles, BMW 8 series insurance premiums are above average. 8 series owners can expect to pay about $347 a month for full coverage, which has comprehensive and collision coverages in addition to liability, and about $75 monthly for liability only insurance (our guide, "State Minimum vs. Full Coverage", can provide more details on these different types of insurance).
Compared to other models, the 8 series is more expensive, with prices more than 10% higher than BMW's other vehicle offerings. Compared to offerings from other brands, car insurance for a 8 series runs close to average, with full coverage insurance premiums coming in at $170 higher than other cars and liability insurance rates at $8 cheaper.
When compared to all vehicles of any body type, the 8 series is lower for liability only insurance, but full coverage prices are more expensive on average.
Insurance Company | Average Monthly Premium |
|---|---|
| Mercury | $48 |
| Dairyland | $109 |
| SafeAuto | $194 |
Are you looking for an auto insurance policy for your BMW 8 series? You might be most interested in which company offers the cheapest premiums. Although there will never be one carrier that offers the most affordable rates for everyone, the lowest average rates for liability only insurance are sometimes just $48 a month from Mercury. With car insurance as cheap as $109 per month, Dairyland is the next cheapest auto insurance company.
However, just because these five companies offer the cheapest average rates doesn't necessarily mean they'll give you the best rates for your BMW 8 series.
After all, car insurance carriers look at a multitude of things when calculating premiums, so your results might be different. By checking quotes from a lot of insurance companies at once, you can rest easy knowing that you're finding the lowest rate.
There are a bunch of variables that car insurance carriers consider to decide how much they charge for insurance -- and every carrier uses a different formula, so there's not one single company that's the cheapest for everyone.
Here are just a few of the factors car insurers will look at, with individual breakdowns of how each one affects your rates:
Vehicle Age | Average Monthly Premium |
|---|---|
| Less than 1 Year | $64 |
| 2-3 Years | $194 |
| 4-5 Years | Not Enough Data |
| 6-7 Years | Not Enough Data |
| 8-10 Years | Not Enough Data |
| 11-14 Years | Not Enough Data |
| 15 Years or Older | $44 |
The BMW 8 series has been around for a while, so vehicle age will likely play a role in what you end up paying for auto insurance. Generally, older cars will be cheaper to insure because they're worth less than newer models, and as time goes on and 8 serieses begin to depreciate, insurance costs will gradually get lower.
Based on the above table, the BMW 8 series follows this trend, as the most expensive models to insure are those that are 2 to 3 years old, while on average, the cheapest models are 8 serieses that are 15 years old or more.
Your age is another variable that plays a big role in how much you pay for insurance. As you can see above, those who have more experience have less expensive rates compared to drivers who are under 24.
Auto insurance prices continue to decrease as you get older, with drivers aged 35-44 making up the cheapest age group for the 8 series.
Gender | Average Monthly Premium |
|---|---|
| Male | $72 |
| Female | $109 |
Because women are less likely to get speeding tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, insurance companies will tend to charge women less than men. Surprisingly, when it comes to 8 series drivers specifically, men pay around $37 less than women a month for auto insurance.
State | Average Monthly Premium |
|---|---|
| California | $45 |
| Texas | $140 |
You may think it's obvious that variables like what vehicle you drive and how old you are play a role in your car insurance premiums, but did you know that where you live can matter just as much? Because auto insurance is regulated at the state level, prices vary quite a bit from state to state.
For example, California has rates for 8 series drivers that are more affordable than other locations.
If you’re looking for the best car insurance for your Bmw at the right price, consider one of the following companies. Each one strikes a balance of affordable coverage, customer satisfaction, and other important factors for Bmw drivers like you.
| User Reviews | 3.9 |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | 4.7 /5 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $57/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $109/mo |
Customers appreciate the helpful agents and prompt claim handling, but many are unhappy with the constant rate increases, even for safe drivers. Some also reported poor customer service.
Customers appreciate the helpful agents and prompt claim handling, but many are unhappy with the constant rate increases, even for safe drivers. Some also reported poor customer service.
Drivers looking for a basic car insurance policy from a company with a solid reputation can find what they need from State Farm. And they can typically find their policy at a discount, so long as they are not high risk.
Among the best customer service satisfaction in the industry
24/7 claims service with large repair network
Lots of available discounts
High rates for high-risk drivers
Limited coverage options
Higher than average customer complaints
| J.D. Power J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale. | 641 |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | 4.5 /5 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $96/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $177/mo |
Drivers appreciate the available discounts but dislike the high prices and lack of communication.
Drivers appreciate the available discounts but dislike the high prices and lack of communication.
Nationwide is great for people who want specialty auto coverage in addition to full-coverage options, but rates may be higher, and customer service can depend on local offices.
Extensive coverage options
Plenty of bundling and discount opportunities
Good reviews of local agents
Higher-than-average rates
Below-average customer service ratings
Potential issues with online quote tool
| User Reviews | NR |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | NR |
Drivers value the excellent coverage and quick claim responses but dislike the significant rate increases and lack of responsiveness to emails.
Drivers value the excellent coverage and quick claim responses but dislike the significant rate increases and lack of responsiveness to emails.
Erie is a great option if you live within the company’s service area, especially if you need complex or specialty coverage. But if a highly functional mobile app is at the top of your list of desirable features, you’ll need to consider other options.
Affordable rates, even for people with minor moving violations
Highly customizable policies with a wide range of add-ons and perks
Offers SR-22 coverage and policies to high-risk drivers
Limited self-service options
Limited features on the mobile app and website
Available in only 12 states
Whatever your home state, your car, or your age, using as many discounts as possible when it comes to your insurance policy is always a good idea.
Not every car insurance carrier will offer the same discounts, but there are a few that are relatively universal. These include discounts like:
Pay-in-full discounts for agreeing to pay your entire policy price up front, rather than by monthly payments
Multi-policy discounts for using the same insurance company for both your home and car insurance
Multi-car discounts for having several vehicles on your auto policy
Defensive driving discounts for drivers who take a defensive driving class from an accredited school or institution
While taking advantage of discounts is always a smart way to save money on your auto insurance, sometimes, the best way to get the cheapest rates is by strengthening your overall insurance profile that carriers look at. This includes things like not having recent insurance claims, avoiding lapses in coverage, and driving safely.
While you can't control every single aspect of your car insurance profile (like some of the pieces we mentioned above), you do have a say over some of it. Below are just a few of the factors you can use to your favor when it comes to saving money:
Infractions | Average Monthly Premium |
|---|---|
| 1 Accident | $31 |
| Multiple Accidents | $194 |
| 1 Ticket | Not Enough Data |
| Multiple Tickets | Not Enough Data |
You've no doubt observed ads from insurance carriers promoting large savings for good drivers. It follows that your car insurance rates will get higher if you get cited for speeding or get into a collision. But how much will they cost you?
If you look at the table above, you'll see that accidents will usually cost 8 series drivers more than tickets, but both will result in above average rates. The rates only go higher the more tickets you get or accidents you have.
Annual Mileage | Average Monthly Premium |
|---|---|
| 2,501-5,000 Miles | $32 |
| 7,501-10,000 Miles | $86 |
| 10,000+ Miles | $78 |
The amount of miles you drive annually plays a role when it comes to your auto insurance premiums. Drivers who are on the roads less often are less likely to get speeding tickets, so they'll normally be offered cheaper prices.
But if you drive less often than the average driver or work from home, you might consider learning about usage-based or pay-per-mile insurance policies. With these policies, you pay a small monthly amount, and your final monthly bill is calculated based on how many miles you drove.
If you're considering making a BMW 8 series your next purchase, it can pay off to do your homework. Car insurance is just one cost that's associated with a new car purchase, but it's certainly one that's worth considering.
Review the table below to see how the BMW 8 series stacks up:
BMW 8 series | National Average | |
|---|---|---|
| Liability Insurance | $48 | $81 |
| Full Coverage Insurance | $236 | $169 |
| Base MSRP | $84,900 | $46,547 |
| Average Annual Mileage | 8,541 | 11,617 |
With an MSRP that's a quarter more than the going rate for a new vehicle, the BMW 8 series is on the more expensive side when it comes to price. The 8 series has an MSRP of $84,900, a bit higher than the national average vehicle price of $46,547.
Full coverage insurance for a BMW 8 series is about $67 per month more than average, while liability only coverage is over $30 cheaper a month.
When it comes to usage, BMW 8 series owners drive fewer miles annually than the national average, with 8,541 miles every year compared to 11,617 for all vehicles.
You've seen how different things can have an impact on how much the average driver pays for auto insurance. But if you're considering buying a new vehicle and the 8 series is one you're thinking about, having a good idea of how much you'll likely pay can be helpful as you consider your options.
| Liability Only Avg. Premium | $48 |
| Full Coverage Avg. Premium | $236 |
| Base MSRP | $84,900 |
| Cheapest Insurance Company | Mercury - $48/mo. |
| Available Trims | 840I, 840XI, M850XI |
It costs around $48 per month for liability or $236 for a full coverage policy for the 2020 8 series.
Looking for the cheapest policy? Mercury offered liability only coverage for sometimes as low as $48 monthly.
Want to know exactly what your insurance premium will be? Just enter your ZIP code below to get several personalized quotes for free.
| Liability Only Avg. Premium | $194 |
| Full Coverage Avg. Premium | $644 |
| Base MSRP | $111,900 |
| Cheapest Insurance Company | SafeAuto - $194/mo. |
| Available Trims | M850XI |
On average, drivers who own a 2019 BMW 8 series can expect to pay $194 to $644 per month for liability only and full coverage auto insurance, respectively.
SafeAuto has rates sometimes as cheap as $194 a month for the 2019 BMW 8 series.
If you want to know just how much your rate will be, get free quotes in minutes by just entering your ZIP code below.
Liability insurance runs an average of $75 monthly, while full coverage will cost you around $347. The BMW 8 series is relatively expensive to insure compared to the average vehicle.
The only way to ensure you're getting the lowest price on car insurance is to check prices regularly and compare quotes from a variety of companies. A good rule of thumb is to get quotes every 6 months or so. Luckily, sites like Compare.com let you compare prices from many carriers at once, meaning you can find the most affordable rates (or guarantee you already have the best deal) in just a few minutes.
Have you heard the old adage that red cars cost more to insure before? Well, that's actually not the case. There are quite a few variables insurance companies consider when they calculate how much you'll pay, but the color of your car is not factored into that equation.
You'll need to have valid car insurance for your vehicle before you can legally drive your it off the dealership lot. Some dealerships might offer you an auto insurance policy as part of the car-buying process, but your best bet is letting your auto insurance carrier know ahead of time.
There are a variety of discounts out there for insurance. Many of them (like "multi-vehicle discounts" and "safe driver discounts") are based less on your 8 series and more on you, but if your 8 series has safety features like anti-lock brakes, anti-theft systems, airbags, and other features, it may be eligible for certain discounts. The best way to find out is to contact your insurance company and ask about which discounts they offer, since they differ quite a bit from carrier to carrier.
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