BMW Car Insurance Costs

The average BMW car insurance rates across all models are $186/mo. Compare multiple quotes using our free comparison tool to save money on BMW car insurance.

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UPDATED: Jun 2, 2022

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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.

Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Written By: Laura BerryReviewed By: Joel OhmanUPDATED: Jun 2, 2022Fact Checked

Here's what you need to know...

  • When purchasing car insurance for your BMW, you must meet the minimum coverage requirement set by your state
  • Because it is a luxury brand, BMW is often more expensive to insure than the average automobile
  • Check with insurance providers to find discounts for which you may qualify
  • The average rates for BMW car insurance are $186/mo or $2,234/yr

If you own a BMW, your car insurance rates will be higher than if you own a cheap, second-hand vehicle. Like sports cars, luxury cars come with higher insurance premiums.

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This is because such vehicles are often at higher risk of theft and vandalism than other cars.

Plus, repairs and replacement are so much more costly.

Options for BMW Car Insurance

It is important to know which coverage is required by your state.

All states have minimum levels of car insurance coverage that is required, and you can find out yours with a simple online search.

  • Most states require you to carry bodily injury liability and property damage liability coverage. You should carry limits that are at least $100,000 per person for bodily injury, $300,000 total for bodily injury, and $100,000 for property damage liability if you can afford to.
  • Uninsured/underinsured motorist coverage is another essential type of coverage to carry. This will cover any bodily injury claims arising from accidents where another party was at fault.
  • Personal injury protection, or medical payments, is a form of car insurance that will provide bodily injury coverage for you and your passengers regardless of who is at fault in an accident. It will also cover things that are not traditionally covered by other types of medical coverage, like lost wages.
  • Property damage coverage is very important to carry if you have a vehicle with a high value.
  • You need collision coverage to cover the costs of repair or replacement if you are in an at-fault accident. Collision and comprehensive are not the same.
  • Comprehensive coverage is necessary to cover those things that are out of your control, like vandalism, theft, weather damage, and animal collision.
  • Gap coverage is essential to carry if your BMW is financed. It will cover the difference between the amount remaining on your loan and the value of the vehicle if it were destroyed.

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Saving on BMW Car Insurance

The higher cost of car insurance is a major concern to many BMW owners. It is important to learn the different ways you can save on your car insurance coverage.

  • Raise the deductibles on your collision and comprehensive coverage to bring down the premium
  • Complete driver training courses when applicable
  • Maintain a good, clean driving record
  • Limit the number of miles you put on your car annually
  • Put multiple vehicles on the same policy to get a discount on each
  • Get your home insurance or life insurance from the same company that provides your car insurance in order to get a multi-line discount
  • If your BMW is getting older and the value is dropping, consider dropping the physical coverage–like comprehensive and collision
  • Make sure your credit score is good; focus on improving your score through timely payments and reduced debt loads

Shop around and carefully compare prices from different insurers to get the best price on BMW car insurance coverage.

Companies differ greatly in the types of discounts they offer and their underwriting guidelines, so you can get varying prices from different companies.

Purchasing BMW Car Insurance

Making a wise decision on your BMW car insurance can save you a lot of money. Therefore, be sure to compare multiple quotes before you make the choice of which insurer to go with.

You can get quotes to compare quickly and easily from a free online car insurance quote tool.

Be sure to compare price, coverage, and the financial strength and reputation of the company itself.

You can learn about the financial strength of an insurer by getting its insurance rating from one of the independent insurance rating companies like A.M. Best or Moody’s.

To learn about a company’s reputation, check them out online or with your state’s department of insurance.

Get online car insurance rates from multiple providers by entering your zip code below!

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.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

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