BMW Auto Insurance (2024)
BMW auto insurance averages $182/mo, but BMW car insurance cost by model varies. For example, BMW insurance premiums for an X3 are about $156, lower than the BMW average. This BMW car insurance review will examine average BMW car insurance rates and help you find the best car insurance for BMW vehicles.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
UPDATED: Oct 30, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 30, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- On average, BMW auto insurance averages $182 monthly
- You’ll pay about $156 for a BMW X3, while a BMW M6 is $225, so always compare BMW insurance cost by model for the best rates
- Maintaining a clean driving record and shopping for quotes is the best way to keep your BMW rates low
BMW auto insurance costs $182 monthly on average. However, finding the best auto insurance for luxury cars like BMWs involves comparing rates since they vary based on BMW model, driving record, and more. Since BMWs are luxury vehicles, insurance companies charge higher rates than non-luxury cars.
Read this BMW car insurance review to learn all about BMW auto insurance and how to find cheap auto insurance for your BMW. We’ll discuss everything from what car insurance coverages you might want for your BMW to average BMW insurance costs.
BMW Auto Insurance Coverage Options
Plenty of BMW luxury car insurance coverage options are available. Your state may require you to carry some coverages, like liability. Liability auto insurance is one of the most important coverages on your BMW since it pays for other parties’ accident bills after an at-fault accident. Find out how much auto insurance you need.
If your state only requires you to carry a low limit of liability insurance, we recommend carrying more than the minimum auto insurance requirement, or you could be stuck with huge bills after an accident.
Your state may also require you to carry a form of medical insurance, such as medical payments coverage or personal injury protection insurance, to help pay for your and your passengers’ medical bills after an accident, regardless of fault.
You may also need to carry uninsured/underinsured motorist auto insurance, which helps cover your bills if you’re in an accident caused by someone else and they don’t have the proper insurance to cover your damages.
Finally, if you have a loan or lease on your BMW, your lender may require you to carry collision auto insurance and comprehensive auto insurance. Even if the coverage isn’t a requirement, we recommend carrying these coverages.
Collision auto insurance pays for your repair bills if you crash into another car or object. Comprehensive auto insurance pays for your repair bills if your car gets damaged by an animal collision, vandalism, or inclement weather, among other incidents.
When considering how much coverage to put on your BMW, consider how much you can pay for repairs and what coverages your vehicle needs. Generally, we recommend a full coverage auto insurance policy consisting of liability, collision, and comprehensive coverages, as this offers the most protection.
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BMW Auto Insurance Rates
BMW insurance quotes depend on what type of auto insurance you choose and the model you have. While a liability auto insurance policy costs less than a full coverage policy, your own car repairs don’t have coverage after an accident you cause.
Below, you can see the average BMW insurance cost by model and coverage:
BMW Average Monthly Auto Insurance Rates by Model and Coverage Type
| Vehicle Model | Comprehensive | Collision | Liability | Full Coverage |
|---|---|---|---|---|
| 2023 BMW X6 | $42 | $81 | $42 | $181 |
| 2023 BMW X5 | $44 | $75 | $37 | $172 |
| 2023 BMW X3 | $38 | $66 | $37 | $156 |
| 2023 BMW M6 | $50 | $110 | $47 | $225 |
| 2023 BMW M3 | $39 | $78 | $42 | $175 |
On average, BMW M6 car insurance costs are the highest of all BMW models. One of the models with the cheapest BMW car insurance rates, the X3, has a purchase price of about half what a BMW M6 costs. So, you should always compare auto insurance rates by vehicle make and model to find the lowest BMW insurance premiums.
Two other factors that impact BMW car insurance rates are age and driving record. Auto insurance for teens and drivers with poor driving records is more expensive. Take a look at the table below to see age and driving record affect your BMW car insurance costs:
BMW Average Monthly Auto Insurance Rates by Model, Driving Record, and Age
| Vehicle Model | High Risk Driver | 20-Year-Old Driver | 30-Year-Old Driver | 40-Year-Old Driver | 50-Year-Old Driver | 60-Year-Old Driver |
|---|---|---|---|---|---|---|
| 2023 BMW X3 | $332 | $354 | $163 | $156 | $142 | $139 |
| 2023 BMW X5 | $367 | $391 | $180 | $172 | $157 | $154 |
| 2023 BMW M3 | $373 | $397 | $183 | $175 | $160 | $156 |
| 2023 BMW X6 | $384 | $409 | $188 | $181 | $165 | $161 |
| 2023 BMW M6 | $480 | $511 | $235 | $225 | $206 | $201 |
If you’re a young driver, keeping a clean driving record will ensure your BMW rates decrease significantly as you age. You should also compare average auto insurance rates by age to find the best car insurance for your BMW.
How to Save on BMW Auto Insurance
Now that you know how much BMW car insurance costs, we’ll list a few things you can do to lower your auto insurance rates and save on your insurance for a BMW:
- Check for discounts. See if there are any auto insurance discounts you haven’t qualified for yet at your insurance company. For example, you might be eligible for a good driver auto insurance discount.
- Consider raising your deductible. If your auto insurance deductible is low, raising it will reduce your auto insurance rates, but you shouldn’t raise it to an amount you can’t pay out of pocket after an accident.
- Get multiple BMW auto insurance quotes. Shopping around for affordable BMW car insurance quotes will ensure you find the cheapest rates available in your area.
- Keep a clean driving record. Auto insurance companies check driving records, so safe drivers enjoy much cheaper BMW auto insurance rates than drivers with a traffic ticket, accident, or DUI on their record.
- Drop unnecessary coverage. You could drop full coverage if your BMW is old and no longer worth much since liability-only is cheaper. In addition, you can eliminate add-on coverages such as rental car reimbursement, gap insurance, or roadside assistance to save on your BMW luxury car insurance rates.
Following the tips above can help you reduce your BMW car insurance rates. Just ensure you don’t sacrifice coverage for a cheaper rate, and take time to read customer reviews before choosing an insurance company.
Finding the Best Auto Insurance for a BMW
Since BMWs are luxury cars, average auto insurance costs per month are naturally higher for BMW owners. BMW car insurance premiums are also more expensive for models with a higher purchase price, young drivers, and drivers with poor driving records.
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You can reduce your car insurance rates by looking for discounts and shopping around for BMW insurance quotes.
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Frequently Asked Questions
Are BMW cars expensive to insure?
BMW auto insurance costs more than average, as they’re a luxury brand. Replacement or repairs for a luxury vehicle will cost more than for a cheaper, mass-manufactured car, so insurance companies charge more to offset this financial risk.
Is Mercedes or BMW insurance more expensive?
It depends on what model you have, as a Mercedes that costs more than a BMW to purchase will also cost more to insure. However, Mercedes and BMW car insurance rates tend to be similar for the most common models of both brands. Rates also depend on chosen coverages, age, driving record, and more.
Is luxury car insurance expensive?
Yes, luxury car insurance is more expensive. Parts and repairs cost more for luxury cars, so insurance companies raise rates to lessen the financial risk of you filing an expensive claim.
How much is BMW 325i insurance?
Since the BMW 325i is an older car, it won’t cost as much to insure as the BMWs we covered in our post, as its overall value is depreciated. So, if you total your BMW 325i, insurance won’t have to give you as much money for a replacement vehicle.
How much is insurance on a BMW for a 16-year-old?
BMW car insurance costs $665 on average for teen drivers, more than double the overall average BMW insurance premiums.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.