Best BMW 5 Series Car Insurance in 2024 (Your Guide to the Top 10 Companies)

For the best BMW 5 Series car insurance, the top picks are State Farm, Erie, and Allstate, with rates starting at just $80 per month. These providers offer the most competitive coverage, helping you save on the average insurance cost for BMW 5 Series. State Farm stands out as the best choice overall.

The article also explores the car insurance discounts available for BMW 5 Series and factors influencing insurance rates, such as vehicle safety features and repair costs, helping you understand how to get the most value for your BMW 5 Series insurance.

Our Top 10 Company Picks: Best BMW 5 Series Car Insurance

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#1 – State Farm: Top Pick Overall

Pros

• Competitive Pricing: State Farm offers a monthly premium of $185 for BMW 5 Series coverage, making it a relatively cost-effective choice among major insurers. This pricing helps balance comprehensive protection with affordability. More information about their rates in our State Farm car insurance review.
• Usage-Based Insurance Program: State Farm’s Drive Safe & Save program rewards BMW 5 Series owners for safe driving habits, potentially reducing insurance costs based on actual driving behavior.
• Discount Opportunities: State Farm provides a variety of discounts, including for safe driving and bundling policies. These discounts can lower your insurance cost for the BMW 5 Series, making it more affordable.

Cons

• Limited High-End Coverage Options: State Farm may not offer as many specialized coverage options for luxury vehicles like the BMW 5 Series, which could limit your protection choices.
• Higher Premiums for Newer Models: While competitive, State Farm’s rates may be higher for newer BMW 5 Series models compared to other insurers, reflecting the increased risk and value of luxury cars.

#2 –Erie: Best for Low Rates

Pros

• Affordable Premiums: Erie’s monthly premium of $180 for BMW 5 Series coverage is among the lower rates, making it a cost-effective choice for insuring a luxury vehicle.
• Comprehensive Coverage Options: As mentioned in Erie car insurance review, Erie provides a range of coverage options tailored for high-end vehicles like the BMW 5 Series, ensuring robust protection.
• Excellent Customer Satisfaction: Erie is highly rated for customer satisfaction, promising professional handling of insurance issues and claims for your BMW 5 Series.

Cons

• Limited Nationwide Availability: Erie’s services are not available in all states, which could be a limitation if you move or travel frequently with your BMW 5 Series.
• Less Flexibility in Policy Customization: Erie may offer fewer options for customizing your policy compared to other providers, potentially limiting coverage adjustments for your BMW 5 Series.

#3 –Allstate: Best for Bundling Discounts

Pros

• Extensive Coverage Options: As mentioned in our Allstate car insurance review, Allstate offers a wide range of coverage options, including those suited for luxury vehicles like the BMW 5 Series, allowing for comprehensive and tailored protection.
• Strong Financial Stability: Allstate’s robust financial stability ensures reliable handling of claims, providing confidence that your BMW 5 Series is well-protected in case of an accident.
• Numerous Discount Opportunities: Allstate provides various discounts, such as for safe driving and bundling policies, which can help reduce the cost of insuring your BMW 5 Series.

Cons

• Higher Premiums: At $195 per month, Allstate’s premium for BMW 5 Series coverage is on the higher end, which might not be ideal if you are looking to minimize insurance costs.
• Claims Processing Time: Allstate has received mixed reviews regarding the speed of claims processing, which could be a concern if you need timely resolution for your BMW 5 Series.

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#4 –Amica: Best for Customer Service

Pros

• Competitive Pricing: Amica offers a monthly premium of $190 for BMW 5 Series coverage, which is competitive compared to other major insurers, providing good value for luxury vehicle insurance. Learn more in our page titled “How do you get an amica mutual car insurance quote online?.”
• Comprehensive Coverage: Amica offers extensive coverage options, including those designed for high-end vehicles like the BMW 5 Series, ensuring you receive robust protection.
• Customer Satisfaction: Amica is known for high customer satisfaction, promising excellent service and support for your BMW 5 Series insurance needs.

Cons

• Fewer Discount Opportunities: Amica may offer fewer discounts compared to other insurers, which could limit potential savings on your BMW 5 Series insurance.
• Higher Premiums for Certain Models: The premium for the BMW 5 Series at Amica might be higher for specific models, reflecting the increased risk and value of luxury vehicles.

#5 – Nationwide: Best for Comprehensive Coverage

Pros

• Wide Range of Coverage Options: Nationwide provides a variety of coverage options for luxury vehicles like the BMW 5 Series, allowing for tailored protection that meets specific needs.
• Strong Financial Ratings: Nationwide’s solid financial ratings ensure reliable coverage and efficient claims handling for your BMW 5 Series, providing peace of mind.
• Discount Programs: Nationwide offers various discount programs, such as for safe driving and bundling, which can help reduce insurance costs for your BMW 5 Series. Check out their ratings in our complete Nationwide car insurance discount.

Cons

• Higher Premiums: At $199 per month, Nationwide’s premiums for the BMW 5 Series are on the higher side, which might be less appealing for budget-conscious buyers.
• Customer Service Variability: Nationwide has mixed reviews regarding customer service, which could impact your experience if you need support or claims assistance for your BMW 5 Series.

#6 – Farmers: Best for Customizable Policies

Pros

• Comprehensive Coverage Options: Farmers provides a range of coverage options suitable for high-end vehicles like the BMW 5 Series, ensuring comprehensive protection tailored to luxury cars.
• Discount Opportunities: Farmers offers various discounts, including those for safe driving and multi-policy bundling, which can help reduce the overall cost of insuring your BMW 5 Series.
• Good Customer Support: Farmers is known for strong customer support, which can be crucial for handling any issues or claims related to your BMW 5 Series insurance. Learn more in our Farmers car insurance review.

Cons

• Higher Premiums: With a monthly premium of $198, Farmers’ rates for the BMW 5 Series are higher compared to some other insurers, which may be a consideration for cost-conscious drivers.
• Limited Customization: Farmers may offer fewer options for customizing your policy compared to other providers, potentially limiting how well the coverage fits your specific BMW 5 Series needs.

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#7 – American Family: Best for Teen Drivers

Pros

• Affordable Premiums: American Family offers the lowest monthly premium at $175 for BMW 5 Series coverage, making it a highly cost-effective option for luxury vehicle insurance.
• Comprehensive Coverage Options: American Family provides extensive coverage options designed for high-end vehicles like the BMW 5 Series, ensuring that all aspects of your car’s protection are covered.
• Discount Programs: American Family offers various discounts, including those for safe driving and bundling policies, which can further reduce the cost of insuring your BMW 5 Series. More information in our American Family car insurance review.

Cons

• Availability Issues: American Family’s insurance services might not be available in all states, which could be a limitation if you relocate or travel frequently with your BMW 5 Series.
• Customer Service Concerns: There have been occasional concerns about customer service quality, which could impact your experience with managing claims or support for your BMW 5 Series.

#8 – Safeco: Best for High-Risk Drivers

Pros

• Competitive Premiums: Safeco offers a monthly premium of $190 for BMW 5 Series coverage, which is competitive and provides good value for luxury vehicle insurance. Learn more details in our Safeco car insurance review.
• Comprehensive Coverage Options: Safeco provides a range of coverage options suitable for high-end vehicles like the BMW 5 Series, ensuring robust protection tailored to your car’s needs.
• Discount Opportunities: Safeco offers various discounts, including for safe driving and bundling policies, which can help reduce your overall insurance costs for the BMW 5 Series.

Cons

• Mixed Customer Service Reviews: Safeco has received mixed reviews regarding customer service, which could affect your experience with claims handling and support for your BMW 5 Series.
• Higher Premiums for New Models: Safeco’s premiums might be higher for newer BMW 5 Series models, reflecting the increased risk and value associated with newer luxury vehicles.

#9 – Travelers: Best for Hybrid Vehicles

Pros

• Extensive Coverage Options: Travelers offers a variety of coverage options for high-end vehicles like the BMW 5 Series, allowing for tailored protection that meets the specific needs of your luxury car.
• Discount Opportunities: Travelers provides several discount options, such as for safe driving and bundling, which can help lower the cost of insuring your BMW 5 Series.
• Good Financial Stability: Travelers’ strong financial stability ensures that they can efficiently handle claims and provide reliable coverage for your BMW 5 Series. See more details on our Travelers car insurance review.

Cons

• Higher Premiums: At $195 per month, Travelers’ rates for the BMW 5 Series are on the higher end, which may not be ideal if you’re seeking a more affordable insurance option.
• Mixed Customer Service Reviews: Travelers has received varied reviews regarding customer service, which could impact your experience with managing your BMW 5 Series insurance and claims.

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#10 – USAA: Best for Military Families

Pros

• Lowest Premiums: USAA offers the lowest monthly premium at $170 for BMW 5 Series coverage, making it the most cost-effective option for luxury vehicle insurance among the listed companies.
• Excellent Coverage Options: USAA provides comprehensive coverage options specifically designed for high-end vehicles like the BMW 5 Series, ensuring thorough protection. Learn more in our USAA car insurance review.
• Top-Rated Customer Service: USAA is renowned for its exceptional customer service, which is crucial for efficiently handling claims and providing support for your BMW 5 Series.

Cons

• Eligibility Restrictions: USAA insurance is only available to military members and their families, which may limit accessibility for others seeking coverage for their BMW 5 Series.
• Limited Nationwide Availability: USAA’s services might not be available in all locations, which could be a drawback if you travel frequently or move to a new area with your BMW 5 Series.

How to get Cheap Car Insurance Quote on a BMW 5 Series

Your rates will vary, however, based on driving history, location, and other factors. The table below compares monthly rates for minimum and full coverage car insurance for a BMW 5 Series from various providers.

BMW 5 Series Car Insurance Monthly Rates by Coverage Level & Provider

One of these vehicles new will certainly cost more to insure than an average car that costs a lot less. It is impossible to know exactly what a person will have to pay until they get some different quotes, but there are some general ideas to get a ballpark figure.

There are other things a person can continually do to help lower their insurance rates.

• Being a safe driver is probably the most important thing you can do. Besides keeping yourself safe, not getting in accidents allows the insurance providers to view you as less of a risk to insure, which means you won’t have the highest rate possible.
• Keeping your insurance claims to a minimum will also help to make you appear as less of a risk.
• Keep your credit score high. A lower credit score is associated with people who get in accidents more often.
• Remember, as well, that you can select different levels of coverage from the main types of car insurance policies, and although the cheapest may seem great in terms of how much you pay for a policy term, it could potentially cost you a lot more in the long run if you have an accident.

The model and trim level will affect your rates, BMW 520d insurance cost may be more or less than other models, for example.

The cost of the vehicle itself makes a difference as well. How much is a BMW 5 series? The base price is $53,900. It’s possible to get a cheap BMW 5 series if you look at older models. How much is a BMW 550i? It can run a bit higher. 2019 BMW 525i cost can be a little lower, according to Kelley Blue Book.

Discover the variety of car insurance discounts offered by top providers for BMW 5 Series to help you save on your premiums.

These discounts from the top insurance providers for BMW 5 Series offer valuable opportunities to save money while maintaining comprehensive coverage and safety on the road.

Read More: BMW Car Insurance Costs (Unpublished 2.9.23)

Safety Features Available on a BMW 5 Series Car

The BMW 5 Series is equipped with advanced safety features designed to enhance driver and passenger protection. These technologies not only contribute to overall safety but can also help reduce insurance premiums.

• Tire Pressure Monitoring and Traction Control: Monitors tire pressure and manages wheel traction for enhanced safety.
• Electronic Stability Control and Anti-Lock Brakes: Helps maintain vehicle stability and prevent wheel lockup during braking.
• Child Safety Features: Includes child seat anchors and rear seat head restraints for added protection.
• Advanced Safety Systems: Features automatic crash notifications and dynamic head restraints for emergency situations.
• Comprehensive Air Bag System: Front, side, and head air bags provide extensive protection in collisions.

In general, the more safety features that a vehicle has, the more the owner will be able to lower their insurance rates. Get safety features discounts, read our article titled “Safety Features Car Insurance Discounts” for more information.

While the cost of insuring a BMW 5 Series car will already be higher than what the average person pays, these safety features should offer substantial discounts.

Remember that every insurance provider weighs these features differently when they calculate your rate, so you’ll want to shop around comparing prices from various companies.

When it comes to the BMW 5 series, the cost to own is affected by some of these factors, but also by the fact that it’s a high-end luxury car. BMW 5 series running costs are known to be expensive due to the fact that it’s an import.

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Government Crash Test Rating Effects on BMW 5 Series Car Insurance Rates

Another generalization is that the safer a vehicle is for its occupants, the lower the cost to insure should be as well. In government crash tests the car scored a 3 stars out of 5 for drivers in frontal crashes, with the passenger rating a perfect 5 stars in frontal impacts.

Read More: Top 10 Deadliest Vehicles in History

For side-impact, the vehicle received a perfect score for all passengers. In rollovers, the vehicle scored 4 stars making it remarkably safe in a rollover accident. Crash ratings can differ based on the model, so BMW 528i crash tests may differ from the 550i.

Overall the rating for the driver will undoubtedly cause the insurance rate to be higher than that for a vehicle with a better rating. Being diligent and looking around, comparing multiple quotes, making sure you get the right discounts, and being a safe driver will help ensure you get a great rate.

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