BMW M5 Car Insurance: How Much Should You Expect to Pay?

Our most recent guide will help you know how much car insurance carriers might charge you to insure your BMW M5.

Quick Facts

  • Full coverage for a M5 usually averages around $299 per month, while liability only auto insurance prices come in at about $80.
  • undefined is the most affordable car insurance carrier for a M5.

M5 Overview

How Much is Car Insurance for a BMW M5?

Vehicle Liability Only Full Coverage
BMW M5$80$299
All BMW Models$83$177
Average Insurance Premium$81$169

Based on the table above, BMW M5 insurance premiums are more expensive than average. On average, M5 owners can expect to pay around $299 monthly for full coverage, which has comprehensive and collision coverages in addition to liability, and about $80 a month for liability only insurance (learn more about these different types of insurance with our guide "State Minimum vs. Full Coverage").

Comparing it to other models, the M5 is more expensive, with rates about 50% higher than BMW's other vehicle offerings.

When compared to all vehicles of any body type, liability only premiums are slightly lower for a M5, but run higher than average for full coverage policies.

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Who has the Cheapest Car Insurance for a BMW M5?

Insurance Company Average Monthly Premium
MetroMile$32
Elephant$40
SafeAuto$41
Foremost$46
Mercury$46

Are you looking for an auto insurance policy for your BMW M5? You may be most interested in which company offers the lowest premiums. Although rates can shift significantly from driver to driver, the cheapest average rates for liability only insurance are sometimes as low as $32 monthly from MetroMile. The next lowest carrier is Elephant, who offers auto insurance as low as just $40 a month.

The third, fourth, and fifth companies on the list are SafeAuto, Foremost, and Mercury. But just because these five carriers offer the cheapest average rates doesn't necessarily mean they'll give you the best rates for your BMW M5.

Insurance companies take a variety of factors into consideration when calculating monthly prices. By analyzing quotes from lots of insurance carriers at once, you can guarantee you're finding the cheapest rate.

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What Factors Affect Car Insurance Rates for a BMW M5?

There are a range of variables that car insurance companies take a look at to calculate how much they charge you for insurance -- and every company uses a different formula, so there's not just one carrier that's the lowest for each driver.

Here are just a few of the things 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$130
2-3 Years$102
4-5 Years$85
6-7 Years$94
8-10 Years$63
11-14 Years$91
15 Years or Older$60

BMW has been making the M5 for quite some time, so the car's age may make a difference in how much you'll pay for auto insurance. Usually, it costs less to insure older cars because they're worth less than newer models, and as cars age, insurance costs will gradually decrease.

As you can see in the information above, the BMW M5 is in line with this trend, as the most expensive models to insure are those that are 1 year old or less, while on average, the cheapest models are M5s that are 15 years old or more.

Your Age

Age Average Monthly Premium

Age plays a big role in how much car insurance carriers will charge. In the table above, you'll see that older M5 drivers pay less for insurance than young M5 drivers. BMW M5 drivers 18 to 24 actually pay more than twice as much as those 25 or older.

Car insurance prices continue to get lower as you get older, with drivers aged 65 years and older making up the cheapest age group for the M5.

Your Gender

Gender Average Monthly Premium
Male$83
Female$64

Because women are less likely to get into accidents and get speeding tickets, they have a decreased chance of filing a claim with insurance. So, insurance companies will tend to charge women less than men. When it comes to M5 drivers specifically, women pay around $19 less than men per month for auto insurance.

Where You Live

State Average Monthly Premium
California$51
Florida$120
Georgia$141
Illinois$43
New York$185
Ohio$66
Pennsylvania$33
Texas$72
Virginia$75

You're probably already aware that variables like what vehicle you drive and how old you are play a role in your insurance prices, but you may not realize that where you live can have just as much as an impact. Since auto insurance is regulated on the state level rather than nationally, premiums can change quite a bit depending on which state you call home.

For example, the average BMW M5 owner from New York pays about $185 a month for liability coverage. Meanwhile, the same driver in California will pay less than 50% of that price, on average.

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BMW M5 Car Insurance Discounts

Regardless of which vehicle you drive, how old you are, or what state you call home, using as many discounts as possible when it comes to your car insurance is always the smart move when shopping around for a policy.

Even though all auto insurance carriers offer their own unique discounts, there are a few different ones that you'll find with most companies. These include discounts like:

  • Multi-policy discounts for getting both your home and auto policies from the same company
  • Vehicle safety discounts for having a vehicle with certain safety features (like air bags or anti-lock brakes) or one with higher safety ratings
  • Pay-in-full discounts for drivers who choose to pay their entire policy price up front, rather than by monthly payments
  • Multi-car discounts for adding more than one vehicle to your auto policy

While discounts are always a good way to save money on your insurance, sometimes, the best way to save isn't through a "discount" at all, but rather by having a favorable driving record and insurance history.

Although you can't control every single aspect of your car insurance profile (like some of the pieces we mentioned above), there is quite a bit of it that you can influence. Below are just a few of the ones you can use in your favor when it comes to cost savings:

Your Driving Record

Infractions Average Monthly Premium
1 Accident$68
Multiple Accidents$175
1 Ticket$54
Multiple Tickets$64

It's no secret that auto insurance carriers offer the most affordable prices to drivers with a history of responsible driving. And you're probably not surprised to hear that your insurance rates will increase if you get into a collision or get a speeding ticket. But exactly how much is it going to cost you for these infractions?

As you can see from the table above, accidents will usually cost M5 drivers more than tickets, but both will result in higher than average rates. BMW M5 drivers with one ticket will pay an average of $54 monthly, while drivers with a single accident on their record pay about $68 each month. The rates only get higher the more tickets you get or collisions you have.

How Much You Drive

Annual Mileage Average Monthly Premium
0-2,500 Miles$55
2,501-5,000 Miles$68
5,001-7,500 Miles$83
7,501-10,000 Miles$84
10,000+ Miles$92

Another variable that affects your car insurance premiums is the amount of miles you drive annually. Drivers who are on the roads less often have fewer opportunities to get into an accident, so they'll generally be offered less expensive prices. In the above table, you can see that BMW M5 owners who drive fewer than 2,500 miles a year pay about $55 per month for auto insurance, while those who put 10,000 miles or more on their cars pay $92.

But if you're one of those drivers who don't put very many miles on your BMW M5 each year, you might consider a usage-based or pay-per-mile car insurance policy. With these kinds of plans, you pay a small monthly amount, and your final monthly bill is calculated based on the number of miles you drove.

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How Do BMW M5s Compare to Other Vehicles?

If you're considering making a BMW M5 your next vehicle, it can pay off to do your homework. Auto insurance is just one cost that's associated with a new car purchase, but it's certainly one that's worth thinking about carefully.

Check out the table below to see how the BMW M5 compares:

BMW M5 National Average
Liability Insurance-$81
Full Coverage Insurance$486$169
Base MSRP-$46,296
Average Annual Mileage11,00011,617

Full coverage insurance for a BMW M5 is around $317 per month more than average, while liability only coverage is a month.

When it comes to usage, BMW M5 drivers are pretty close to the national average in annual miles driven, with 11,000 miles every year compared to 11,617 for all vehicles.

BMW M5 Car Insurance Costs by Model Year

You've seen how different factors can affect how much you might pay for insurance. If you're in the market for a new car, truck, or SUV and the M5 is on your wishlist, knowing what you can expect to pay can be extremely valuable as you weigh your options.

2020 BMW M5 Car Insurance

   
Liability Only Avg. Premium$61
Full Coverage Avg. Premium$204
Base MSRP$102,700
Cheapest Insurance CompanyMercury - $53/mo.
Available TrimsBASE/M5 COMPETITION

On average, drivers who own a 2020 M5 can expect to pay $61 to $204 monthly for liability only and full coverage insurance, respectively.

Mercury has prices as cheap as just $53 per month for the 2020 BMW M5.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get free quotes in minutes.

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2019 BMW M5 Car Insurance

   
Liability Only Avg. Premium$176
Full Coverage Avg. Premium$344
Base MSRP$102,700
Cheapest Insurance CompanySafeAuto - $49/mo.
Available TrimsM5

The average cost to insure a 2019 BMW M5 with liability only coverage is $176 a month, while full coverage runs about $344 per month.

We found SafeAuto offered the cheapest policy, with rates as little as $49 monthly.

If you're looking for a more exact figure on what you should pay for car insurance for a 2019 BMW M5, you can get free quotes in minutes by just entering your ZIP code below.

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2018 BMW M5 Car Insurance

   
Liability Only Avg. Premium$167
Full Coverage Avg. Premium$674
Base MSRP$102,600
Cheapest Insurance CompanyElephant - $40/mo.
Available TrimsM5

2018 M5 drivers can expect to pay an average of $167 a month for liability or $674 for full coverage.

Looking for the most affordable policy? Elephant offered liability only coverage for sometimes as little as $40 monthly.

What will your auto insurance premium be? Just enter your ZIP code below to get multiple customized quotes for free.

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2016 BMW M5 Car Insurance

   
Liability Only Avg. Premium$49
Full Coverage Avg. Premium$344
Base MSRP$94,100
Cheapest Insurance CompanyMetroMile - $32/mo.
Available TrimsM5

It costs around $49 per month for liability or $344 for a full coverage policy for the 2016 BMW M5.

With rates as little as just $32 a month, MetroMile offered the lowest policy we found for the 2016 BMW M5.

While these are good estimates of what the average driver might pay to insure a 2016 BMW M5, these premiums might differ based on your driver profile. Just enter your ZIP code below, to get free personalized quotes in minutes.

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2015 BMW M5 Car Insurance

   
Liability Only Avg. Premium$43
Full Coverage Avg. Premium$280
Base MSRP$93,600
Cheapest Insurance CompanyAspire - $29/mo.
Available TrimsM5

You can expect full coverage for a 2015 M5 to run about $280 monthly, while liability only coverage will average around $43 per month.

With rates as low as $29 monthly, Aspire offered the cheapest policy we found.

Want to figure out exactly what you'll be asked to pay? Get a variety of personalized quotes for free by just entering your ZIP code below.

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2014 BMW M5 Car Insurance

   
Liability Only Avg. Premium$125
Full Coverage Avg. Premium$475
Base MSRP$92,900
Cheapest Insurance CompanyMercury - $37/mo.
Available TrimsM5

2014 BMW M5 drivers can expect to pay an average of $125 per month for liability or $475 for full coverage.

If you're looking for the cheapest possible 2014 BMW M5 insurance policy, Mercury offered the most affordable policy we found, with rates as cheap as $37 a month.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get several free quotes in minutes.

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2013 BMW M5 Car Insurance

   
Liability Only Avg. Premium$67
Full Coverage Avg. Premium$306
Base MSRP$90,200
Cheapest Insurance CompanyMercury - $28/mo.
Available TrimsM5

The average cost to insure a 2013 M5 with liability only coverage is $67 per month, while full coverage runs about $306 a month.

Mercury offered the lowest policy we found, with rates sometimes as cheap as $28 monthly.

Want something more accurate than national averages? Get several free customized quotes by just entering your ZIP code below.

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2010 BMW M5 Car Insurance

   
Liability Only Avg. Premium$87
Full Coverage Avg. Premium$248
Base MSRP$85,700
Cheapest Insurance CompanyMercury - $23/mo.
Available TrimsM5

It costs around $87 per month for liability or $248 for a full coverage policy for the 2010 BMW M5.

We found Mercury offered the most affordable policy, with rates as low as $23 monthly.

And if you want more accurate rates tailored specifically to you, just enter your ZIP code below and get free quotes in minutes.

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BMW M5 Insurance FAQs

Is a BMW M5 expensive to insure?

Liability insurance runs an average of $80 a month, while full coverage will cost you around $299. When compared to the national average of all vehicles, prices come in on the more expensive end of the spectrum.

How can I get the best price on car insurance for my BMW M5?

There's only one way to confirm you're getting the lowest rates -- regularly shopping around and comparing quotes from a variety of companies. It's recommended to review quotes every 6 months or so. Luckily, sites like Compare.com let you compare premiums from quite a few carriers at once, meaning you can find the cheapest rates (or guarantee you already have the best deal) for free.

Does the color of my BMW M5 affect my insurance rates?

Have you heard the old adage that it costs more to insure a red car before? Well, that's simply not true. Even though there are many variables insurance companies examine when they decide how much to charge for car insurance, your M5's color is not one of them.

Do I need to have insurance before I buy a BMW M5?

Before you can legally drive your new (or new to you) vehicle off the dealership lot, you'll need to have valid insurance for it. Some dealerships will offer you one during the purchase process, but the best thing to do when buying a a new undefined is to talk with your car insurance company ahead of time.

What car insurance discounts can I get for my BMW M5?

You will find a variety of discounts out there when it comes to auto insurance. Many of them (like "safe driver discounts" and "pay-in-full discounts") are based less on your car and more on you, but if your M5 has safety features like anti-theft systems, airbags, anti-lock brakes, and other features, it may be eligible for certain discounts. The best way to find out is to get in touch with your insurance carrier and ask about which discounts they offer.

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