Audi vs. BMW Auto Insurance (2024)

Luxury cars have been a guilty pleasure of drivers for years. The speed and aesthetics of these vehicles have drawn the eye of many people, but most owners fail to recognize an important ownership cost for a luxury vehicle.

The cost of insurance on luxury brands such as Audi and BMW can be overwhelmingly high, but there are some ways to find affordable insurance for both companies.

One of the key factors in premium costs is the car that you drive. In addition, several factors influence your premium simply based on the specs of your vehicle.

From engine size and horsepower to theft likelihood and insurance loss data, your vehicle will drastically impact the price you pay for auto insurance.

Understanding the various ways your vehicle can increase costs is a great place to start before shopping around.

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Ways Your Vehicle Can Impact Insurance Costs

The type of vehicle you drive will affect insurance costs. Because each insurance company produces their own ratings for vehicles, the premium prices will vary. However, there are a few commonalities between insurance providers that will guarantee higher premiums among vehicle types.

For starters, the engine size will greatly impact insurance rates. At the most basic level, bigger engines will yield costlier auto insurance. Even among SUVs, which mostly rate lower on the insurance scale, larger engines will mean greater risk for accidents and tickets.

Outside of engine size, the horsepower of a vehicle will also garner higher insurance rates.

Every insurance company will determine rates based on their perceived risk of insuring the driver. If your vehicle has the capability of achieving high speeds because of high horsepower, you can guarantee to pay more for insurance.

If your car goes fast, the insurance provider will bet that you’re driving fast. This means you are more likely to receive tickets or be in an accident, which puts you at higher risk.

Also, the size of the vehicle will also impact insurance rates. If your vehicle is a tiny sports car, designed to achieve high speeds and has incredible maneuverability, you will pay more for insurance.

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Theft Rates, Safety Rating, and Cost of Vehicle

Even though SUVs and pickup trucks are bigger than sports cars, they can also have high insurance rates. If your vehicle would cause maximum damage in the event of an accident, the insurance company will charge you more for insurance. In the world of auto insurance, size does matter!

Typically, older cars will cost less to insure. However, the likelihood of theft for your vehicle also will impact insurance rates.

The National Insurance Crime Bureau has released a new consumer awareness campaign called Hot Wheels, which tracks and lists the most commonly stolen vehicles throughout the United States.

In addition to theft rating, safety ratings will also affect insurance prices. The National Highway Traffic Safety Administration has an easy-to-use database that delivers five-star crash-test ratings for a variety of vehicles.

If your vehicle tests poorly on safety ratings,  you will be paying more for auto coverage.

Finally, the cost of your vehicle is an unknown but important factor for insurance rates. Knowing your vehicle’s current market value is very important before you start shopping for insurance.

If you happen to drive a vehicle that would be expensive to fix, an insurance company will charge you more than a less expensive vehicle of the same model.

Even vehicles of the same model will vary insurance costs. If you have a vehicle will every available option, custom trim, and a more powerful engine, you will pay more for coverage than the stock version of the same model.

Just remember, insurance companies evaluate risk, and costlier vehicles will mean higher expenses to fix.

Cost of Audi Auto Insurance

Understanding the above criteria, you can see how insurance prices, even among a single car company, will vary greatly. Audi makes a wide range of vehicles, from luxury crossovers to sports vehicles.

Each model will carry a vastly different price for insurance. Although there may be some consistency among makes, the insurance industry has too many variables to give an actual average for insurance.

Based on national averages for a driver with a clean history, most Audis will cost between $1,500 and $1,800 to insure annually.

Of course, this is a gross estimation and should not be taken as the end-all on finding insurance. Prices of insurance premiums are impacted by other criteria like age, gender, credit history, and where you live.

Remember, though, that Audi does produce a wide range of vehicle types. From the Audi A4 sedan to the R8 supercar, insurance prices will scale the breadth of prices. It depends on the factors of the vehicle itself.

Thankfully, Audis made before the mid-2000s have rated quite well on safety tests. On average, a relatively inexpensive Audi model will probably cost the same to insure as another similar vehicle make.

Cost of BMW Auto Insurance

Similar to Audi, BMW offers a wide variety of vehicle models, which means an even wider range of BMW auto insurance prices. The 4-door wagons and sedans will always garner the lowest insurance prices. Models like the X3 the 128i, being safer models, usually yield an annual cost of around $1,500.

On the other hand, the BMW 750, a very powerful supercar, is one of the most expensive vehicles to insure, averaging anywhere in between $2,800 to $3,300 annually.

Again, comparing car companies regarding insurance costs is a little ridiculous, simply because of the variables involved. Every vehicle is different, so remember the variety of factors each vehicle will bring to the insurance table before making a final decision on the car you drive.

Every vehicle is different, so remember the variety of factors each vehicle will bring to the insurance table before making a final decision on the car you drive.

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Other Factors that Impact Auto Insurance

The auto insurance industry is ever changing and always in constant competition for quality rates and prices. Because every driver on the road is obligated to buy insurance by law, every insurance provider wants your money and commitment.

The best way to find quality, affordable insurance for either your Audi or BMW is to shop around.

Before you start making cold calls to insurance companies, you must have some education on how companies create premium prices. Even though the vehicle you drive is important, other factors can increase your rate. Even if you are driving a used, safe four-door sedan with a smaller engine, you may still pay a bundle for insurance.

One factor that almost every driver is aware of is your driving history. If insurance companies base their rates on risk factor, your history is the primary way they decide your risk to insure.

If you have a slew of tickets and accidents on your record, it will not matter if you drive a minivan. You will pay more for insurance if your record is terrible.

With that in mind, be vigilant and start driving safely now. You can save a bunch of money on insurance if you have a clean record.

Sadly, if you have a poor driving record and want to drive a luxury vehicle, you may be paying just as much for a monthly insurance premium as an auto loan payment.

Another factor that dictates insurance rates is your credit history. Some people may wonder how your credit score can affect insurance rates.

Insurance companies have researched and found that drivers with poor credit scores are also more likely to file claims and get in accidents.

It seems that responsibility with your credit impacts a wide range of things, like auto insurance. Paying your bills on time and keeping your debt ratio balanced are great ways to maintain a high score.

In addition to these factors, there are some that you cannot control. According to J.D. Power and Associates, young males are typically the most expensive to insure. Again, insurance providers base prices on risk.

Young males have the highest percentage of accidents among gender and age groups. However, a young, male driver with a spotty record is even more expensive to insure.

Age will also have a large impact on insurance costs. Customers between the ages of 30-40 are usually the cheapest to insure, with rates rising again when you become a senior citizen. You cannot control these factors, but being educated can help you find the lowest insurance rates around.

Type of Coverage

If you are insuring your Audi or BMW, you may also want to consider the type of coverage you purchase. Additional options like comprehensive and collision coverage can be expensive, but it may be necessary on newer vehicles.

You may also want to consider purchasing renters insurance, in the event of an accident.

The amount you decide to pay for your deductible will also affect your premium. If you can afford to have a higher deductible and pay more out-of-pocket, you will have a lower monthly payment.

Finally, some vehicles come equipped with standard anti-theft features and other safety features. In fact, many newer Audi and MBW models come with a wide range of safety features in their stock models.

Finding insurance can be a difficult task, especially with a luxury car company like Audi and BMW. However, there are some consistent factors between makes and models that you can control when purchasing insurance.

Staying educated on the ins and outs of auto insurance is a great way to find great prices. Agencies like the Insurance Information Institute can be valuable resources. The most important thing to remember is to shop around for multiple quotes.

You can start receiving car insurance quotes right here by entering your zip code into the FREE box below!

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