BMW 8 series Car Insurance: How Much Should You Expect to Pay?

The average auto insurance rate for a BMW 8 series averages out to be around $334 monthly. Our newest guide will help you see how much insurance carriers might charge you to insure your BMW 8 series.

Quick Facts

  • 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.

8 series Overview

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 Levels840I, 840XI, M850XI
Average Insurance Premium$334/mo.
Cheapest Insurance CompanyWorkmens

How Much is Car Insurance for a BMW 8 series?

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.

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Who has the Cheapest Car Insurance for a BMW 8 series?

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.

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What Factors Affect Car Insurance Rates for a BMW 8 series?

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

Vehicle Age Average Monthly Premium
Less than 1 Year$64
2-3 Years$194
4-5 YearsNot Enough Data
6-7 YearsNot Enough Data
8-10 YearsNot Enough Data
11-14 YearsNot 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

Age Average Monthly Premium

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.

Your Gender

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.

Where You Live

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.

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BMW 8 series Car Insurance Discounts

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:

Your Driving Record

Infractions Average Monthly Premium
1 Accident$31
Multiple Accidents$194
1 TicketNot Enough Data
Multiple TicketsNot 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.

How Much You Drive

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.

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How Do BMW 8 serieses Compare to Other Vehicles?

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 Mileage8,54111,617

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.

BMW 8 series Car Insurance Costs by Model Year

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.

2020 BMW 8 series Car Insurance

   
Liability Only Avg. Premium$48
Full Coverage Avg. Premium$236
Base MSRP$84,900
Cheapest Insurance CompanyMercury - $48/mo.
Available Trims840I, 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.

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2019 BMW 8 series Car Insurance

   
Liability Only Avg. Premium$194
Full Coverage Avg. Premium$644
Base MSRP$111,900
Cheapest Insurance CompanySafeAuto - $194/mo.
Available TrimsM850XI

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.

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BMW 8 series Insurance FAQs

Is a BMW 8 series expensive to insure?

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.

How can I get the best price on car insurance for my BMW 8 series?

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.

Does the color of my BMW 8 series affect my insurance rates?

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.

Do I need to have insurance before I buy a BMW 8 series?

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.

What car insurance discounts can I get for my BMW 8 series?

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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