Compare the Cost of BMW 4 Series Insurance by Model Year and Company


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Insurance rates for a BMW 4 Series vary depending on the driver's age and the car's model year. For example, insuring a 2015 model for a 16-year-old costs $7,884 per year versus $1,752 for a 40-year-old. Insurance for a 2022 model costs $9,347 for a 16-year-old driver and $2,082 for a 40-year-old. MoneyGeek has rated the best insurers offering a balance of affordability, service and claims experience.

Key Takeaways

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When insuring a BMW 4 Series, prioritizing affordability can lead to significant savings on premiums. Here's a breakdown of the most affordable options for both full and minimum coverage:

Full Coverage
- Cheapest Insurer: State Farm
- **Annual Premium: $**1,618
- MoneyGeek Score: 90/100
- Note: State Farm is also top-rated in customer satisfaction, making it an excellent choice for those who value service and affordability.

- Most Expensive Insurer: Allstate
- Annual **Premium: $2,**363

Minimum Coverage
- Cheapest Insurer: State Farm
- Annual Premium: $473
- Note: This is a particularly cost-effective option for those seeking basic coverage.

- Most Expensive Insurer: Progressive
- Annual Premium: $732

Additional Insights
- Model Year Impact: Insurance costs more for newer models. For example, a 2022 BMW 4 Series would generally cost around $2,082 to insure, while a 2015 model is slightly cheaper at $1,752.

- Driver's Age Impact: Young drivers face higher premiums. A 16-year-old driver could pay as much as $8,551 annually, compared to $1,901 for a 40-year-old.

- Teen Drivers: State Farm offers the most affordable individual plan for 16-year-olds at $6,031 annually.

Given these insights, if affordability is your primary concern, State Farm emerges consistently as the most cost-effective insurer for both full and minimum coverage plans for a BMW 4 Series. Always consider obtaining quotes from multiple insurers to tailor the best deal to your specific circumstances, such as age, location, and driving history.

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Based on the information provided, the best car insurance provider for a BMW 4 Series is State Farm. It is noted as the cheapest option for full coverage with an annual premium of $1,618. Furthermore, State Farm has a high MoneyGeek score of 90 out of 100, indicating a strong performance in customer satisfaction, affordability, and a balanced offering of services and claims experience.

For a quick recap:
- Best Provider: State Farm
- MoneyGeek Score: 90 out of 100
- Annual Premium for Full Coverage: $1,618

State Farm is recommended for its combination of cost-effectiveness and high customer satisfaction. Nevertheless, drivers are encouraged to compare quotes from multiple providers to ensure they receive the best rate considering individual circumstances such as age, location, and personal driving history.

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When it comes to car insurance premiums for the BMW 4 Series, age plays a significant role in determining the cost. Younger drivers, such as 16-year-olds, typically face much higher insurance rates compared to older, more mature drivers like those aged 40. This disparity is largely due to the perceived risk associated with younger drivers, who statistically are more likely to be involved in accidents.

Insurance Costs by Age:
- 16-Year-Old Driver: For a 2015 BMW 4 Series, the annual insurance cost is $7,884. For a 2022 model, it rises to $9,347. On average, a 16-year-old can expect to pay $8,551 per year.
- 40-Year-Old Driver: For the same vehicles, a 40-year-old would pay $1,752 for the 2015 model and $2,082 for the 2022 model, with an average annual cost of around $1,901.

Why Insurance Costs Decline with Age:
1. Risk Assessment: Young drivers are often viewed as high-risk due to inexperience and the propensity for risky driving behaviors. As drivers age and gain more experience, insurance companies observe that their likelihood of filing a claim decreases, resulting in lower premiums.

2. Accident Statistics: Statistically, teenagers have higher accident rates. As drivers age beyond their teens and into their 20s and 30s, they generally adapt safer driving habits.

3. Experience and Maturity: Older drivers tend to have more driving experience and usually demonstrate more responsibility on the road, which insurance companies reward with lower rates.

Decrease Over Time:
Insurance premiums for young drivers, such as those aged 16, are often very high. However, these rates decline noticeably as the driver reaches their mid-20s and continue to decrease into their 30s. By age 40, rates typically stabilize, reflecting the accumulated driving experience and reduced risk profile.

Individual Plan Costs:
- For 16-Year-Olds: State Farm offers the cheapest individual plan at $6,031 per year, while Progressive is the most expensive at $13,310.
- For 40-Year-Olds: The average cost of insuring a 2022 BMW 4 Series is approximately $2,082, whereas a 2015 model costs around $1,752.

Considerations Beyond Age:
Insurance rates for the BMW 4 Series are also influenced by other factors, including the car's model year, the driver’s location, and the chosen insurance provider. Newer models like the 2022 version are more expensive to insure due to higher value and potential repair costs. Where you live can also impact rates significantly, and it's advisable to compare quotes from multiple providers to secure the best price. Providers like State Farm and GEICO are highly rated for offering an optimal balance of affordability and service, according to MoneyGeek.

Families with a teen driver might find it more economical to add the younger driver to a family policy rather than purchasing separate coverage, emphasizing the importance of researching and comparing insurance offers thoroughly.

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Why do we need ZIP code?

Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a BMW 4 Series.

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We updated these rates to reflect the average cost of car insurance for a BMW 4 Series as of 2023.

10Companies Compared
 
23,904 Quotes Analyzed

Average Cost and Cheapest Companies for Insuring a BMW 4 Series

BMW 4 Series insurance costs an average $1,970 per year, but the provider you choose can significantly impact your premiums. State Farm is the cheapest option for full coverage at $1,618 per year, while Allstate is the most expensive at $2,363 per year.

For minimum coverage, the cheapest provider is State Farm at $473 per year, while the most expensive is Progressive at $732 per year. Prices can vary based on the driver's age, location and driving history, so always compare rates from multiple providers to find the best deal.

Data filtered by:Results filtered by:
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Age:40
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Coverage:Full Coverage
State Farm$1,618
Nationwide$1,734
GEICO$1,753
Travelers$1,758
Progressive$2,136
Farmers$2,200
Allstate$2,363

Is a BMW 4 Series Expensive to Insure?

Insurers consider many factors when determining insurance costs for a BMW 4 Series. This model series is expensive to insure because it has a high MSRP rate of $46,195, and the National Highway Traffic Safety Administration (NHTSA) reports it is stolen at a higher rate than average. In addition, sports cars are pricier to insure because their drivers are more likely to take risks.

Best Companies for Insuring a BMW 4 Series

When shopping for BMW 4 Series insurance, consider other factors besides cost. The best car insurance companies also provide excellent customer service and claims experience.

Based on MoneyGeek's rating, State Farm and GEICO are the top-rated insurers for the BMW 4 Series.

  • State Farm: MoneyGeek score of 90 out of 100 ($1,618 per year)
  • Travelers: MoneyGeek score of 89 out of 100 ($1,758 per year)

State Farm scored highest in customer satisfaction, while Travelers scored higher in coverages offered and customer claims experience.

MoneyGeek Top Pick: State Farm

State Farm

pros

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Offers the most affordable pricing

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Good customer satisfaction rating

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Offers roadside assistance

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Offers few coverage add-ons

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Below-average claims handling score

COMPANY HIGHLIGHTS

State Farm is the best car insurance provider for a BMW 4 Series car. The company offers the cheapest annual premium of $1,618. It’s relatively affordable and provides good customer service. However, the company offers few add-ons and could improve its claims handling process.

State Farm provides rental car and/or travel reimbursement and roadside assistance. The rental car and travel reimbursement covers car rental expenses up to certain limits, travel expenses and repayment of up to $500 of a deductible if you cause an accident in your rental car.

The company’s roadside assistance pays for mechanical labor for up to one hour, towing, delivery of gas, oil, battery or change of tire and locksmith labor for up to one hour to unlock a covered car.

Read MoneyGeek's State Farm Auto Insurance Review

MoneyGeek Runner-Up: Travelers

Travelers

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Second most affordable policies

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Above-average customer satisfaction score

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Offers a good selection of add-on coverages

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Average claims experience rating

COMPANY HIGHLIGHTS

Travelers is a well-known car insurance provider that offers various coverage options. With competitive rates and customizable coverage plans, Travelers can be a great option for BMW 4 Series owners looking for reliable and affordable car insurance.

The company’s roadside assistance add-on covers unexpected car trouble like a dead battery. Travelers offers accident forgiveness as part of its Responsible Driver Plan. This coverage forgives one accident in a set period to protect against premium increases.

Travelers’ gap insurance helps pay the difference between the actual cash value of a financed or leased car and the unpaid balance if it’s totaled. In addition, new car replacement coverage replaces a totaled car with a brand new one of the same make and model within the vehicle’s first five years.

Read MoneyGeek's Travelers Auto Insurance Review

Cost of Insuring a BMW 4 Series by Model Year

The annual cost of insuring a 2022 BMW 4 Series is approximately $2,082, while insuring a 2015 model costs $1,752 per year. Newer model years are generally pricier to insure due to their higher value and repair costs.

Data filtered by:Results filtered by:
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Age:40
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Coverage:Full Coverage
2022$2,082
2021$2,038
2020$1,954
2019$1,925
2018$1,868
2017$1,803
2016$1,790
2015$1,752

The average cost of car insurance will vary by insurer and model year. State Farm offers the cheapest full coverage rates for a 2015 BMW 4 Series at $1,440 per year, while Nationwide offers the cheapest for a 2022 model at $1,665 per year.

Data filtered by:Results filtered by:
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Model Year:2022
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Age:40
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Coverage:Full Coverage
Nationwide$1,665
Travelers$1,844
State Farm$1,845
GEICO$1,932
Progressive$2,324
Farmers$2,433
Allstate$2,818

Cost of Insuring a BMW 4 Series for 16- to 25-Year-Olds

The cost to insure a BMW 4 Series depends on the driver's age. Insurance for a 16-year-old costs $8,551 a year, while a 40-year-old pays $1,901 yearly. Young drivers pay more than older ones, but the rates typically level off when drivers reach their 20s and begin to decrease after age 30.

Data filtered by:Results filtered by:
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Coverage:Full Coverage
16$8,551
17$6,994
18$6,186
19$4,335
20$3,941
21$3,060
22$2,834
23$2,635
24$2,503
25$2,247

Adding a teen to a family plan is usually cheaper than buying an individual teen car insurance policy. State Farm offers the cheapest individual plan for 16-year-olds at $6,031 per year, while Progressive has the most expensive at $13,310 per year. Families should shop around to find the best deal.

Data filtered by:Results filtered by:
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Age:16
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Model Year:2022
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Coverage:Full Coverage
State Farm$6,031
Nationwide$6,849
Travelers$7,761
GEICO$9,031
Farmers$11,590
Allstate$11,961
Progressive$13,310

How Does Location Affect the Cost of BMW 4 Series Insurance?

Many factors influence the insurance price for a BMW 4 Series, including the model year, driver age and location. Where you live can significantly impact the cost of insurance, so the least expensive insurance company for a particular car model can vary by state.

Always obtain estimates from your state's most economical car insurance providers when looking for coverage for your BMW 4 Series.

Data filtered by:Results filtered by:
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Age Group:30-59
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Coverage:Full Coverage
AlabamaNationwide$709$59
AlaskaState Farm$699$58
ArizonaRoot Insurance Company$682$57
ArkansasState Farm$629$52
CaliforniaAAA California$1,001$83
ColoradoAmerican National P&C$541$45
ConnecticutGEICO$693$58
DelawareState Farm$881$73
District of ColumbiaGEICO$662$55
FloridaState Farm$1,058$88
GeorgiaCountry Financial$665$55
HawaiiGEICO$565$47
IdahoAmerican National P&C$299$25
IllinoisCountry Financial$663$55
IndianaAmerican Family$555$46
IowaState Farm$509$42
KansasNationwide$670$56
KentuckyNationwide$790$66
LouisianaLouisiana Farm Bureau$1,048$87
MaineConcord Group$521$43
MarylandProgressive$938$78
MassachusettsState Farm$483$40
MichiganGEICO$898$75
MinnesotaState Farm$797$66
MississippiDirect General Insurance$723$60
MissouriNationwide$909$76
MontanaProgressive$437$36
NebraskaAmerican National P&C$405$34
NevadaCSAA$940$78
New HampshireState Farm$540$45
New JerseyPlymouth Rock Assurance$895$75
New MexicoState Farm$644$54
New YorkKemper$781$65
North CarolinaErie$630$52
North DakotaAmerican Family$616$51
OhioNationwide$485$40
OklahomaState Farm$662$55
OregonState Farm$706$59
PennsylvaniaNationwide$580$48
Rhode IslandState Farm$700$58
South CarolinaAmerican National P&C$463$39
South DakotaAllstate$746$62
TennesseeState Farm$579$48
TexasState Farm$699$58
UtahNationwide$725$60
VermontState Farm$493$41
VirginiaAmerican Family$601$50
WashingtonPEMCO$534$44
West VirginiaErie$784$65
WisconsinGEICO$556$46
WyomingState Farm$745$62

Frequently Asked Questions About BMW 4 Series Insurance

Drivers shopping for car insurance for BMW 4 Series may have questions about cost and quality. MoneyGeek provides answers to help you get started.

What company has the cheapest car insurance for a BMW 4 Series?

What company offers the best car insurance for a BMW 4 Series?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a 5-time Jeopardy champion!

He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.