Updated: October 25, 2024
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Car insurance rates for a BMW 5 Series vary based on the driver's age and the vehicle's model year. For a full coverage policy, a 16-year-old driver would pay $9,760 for a 2022 model and $6,803 for a 2009 model. The cost for a 40-year-old driver would be $2,141 for a 2022 model and only $1,477 for a 2009 model.
We also ranked the best insurers for balancing affordability with service and claims experience.
Car Insurance CostsBMW 5 SeriesTable of Contents
Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a BMW 5 Series.
These rates were updated to reflect the average cost of car insurance for a BMW 5 Series as of 2023.
BMW 5 Series insurance costs an average annual $1,874 for full coverage, but the provider you choose can have a significant impact on your premiums. For full coverage, State Farm is the cheapest option at $1,423 per year, while Farmers is the most expensive at $2,336 per year.
For minimum coverage, the cheapest provider is GEICO at $492 per year, while the most expensive is Farmers at $804 per year. Prices can vary depending on things like driver age, location and driving history, so it's always wise to compare rates from multiple providers to find the best rate.
| State Farm | $1,423 |
| GEICO | $1,496 |
| Nationwide | $1,627 |
| Travelers | $1,689 |
| Progressive | $1,998 |
| Allstate | $2,084 |
| Farmers | $2,336 |
Insurers take many factors into account when determining car insurance costs for a BMW 5 Series. This model series is expensive to insure because of the theft rate and horsepower. According to recent data from the National Highway Traffic Safety Administration (NHTSA), this car model is often stolen at an above-average rate. Cars prone to theft are significantly riskier to insure, so insurance companies charge more for premiums.
High-value cars like the BMW 5 Series have a higher manufacturer’s suggested retail price (MSRP), resulting in higher repair costs. The BMW 5 Series has an MSRP of $55,195.
When shopping for BMW 5 Series insurance, the cost is not the only important factor to consider. The best car insurance companies also provide excellent customer service and claims experience. The best insurers for a BMW 5 Series and full coverage include:
State Farm scored well in terms of affordability and customer satisfaction.
Relatively affordable
Good customer satisfaction rating
Provides rental car/travel reimbursement and roadside assistance
Low claims experience rating
Limited coverage options
State Farm is the best car insurance provider for the BMW 5 Series. It received a score of 90 out of 100 and has the cheapest annual premium of $1,423. It’s relatively affordable and provides good customer service.
This insurer offers rental car and/or travel reimbursement and roadside assistance. The former covers rental car expenses up to chosen limits, travel expenses and repayment of up to a $500 deductible if you cause an accident in your rental car. The latter 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.
State Farm also offers many discount options to help customers lower their premiums. However, it ranks lower for coverage options and claims management.
Relatively affordable
Good satisfaction rating
Offers rental car/travel reimbursement, accident forgiveness and mechanical breakdown insurance (MBI)
Low claims experience rating
Lacking in terms of coverage options
GEICO is a popular car insurance provider that offers comprehensive coverage options for BMW 5 Series owners. It could be an attractive option for BMW 5 Series owners or drivers looking for excellent service at a competitive price.
BMW 5 Series drivers might be interested in GEICO's rental car and travel reimbursement coverage that pays for a rental vehicle if their car is unusable after a covered accident. Accident forgiveness is available for purchase or can be earned and will prevent your rate from going up after your first at-fault accident.
Additionally, GEICO's MBI provides better coverage at a more affordable price than most extended warranties. MBI covers all parts and systems, unlike specific dealer warranties. It is available for new or leased cars that are under 15 months old and have less than 15,000 miles.
Insuring a BMW 5 Series from the newest model year (2022) will cost you around $2,141 per year for full coverage, while a 2009 model costs $1,477 annually. Newer model years are generally pricier to insure due to higher values and repair costs.
| 2022 | $2,141 |
| 2021 | $2,093 |
| 2020 | $2,012 |
| 2019 | $1,986 |
| 2018 | $1,931 |
| 2017 | $1,852 |
| 2016 | $1,830 |
| 2015 | $1,779 |
| 2014 | $1,703 |
| 2013 | $1,687 |
| 2012 | $1,639 |
| 2011 | $1,557 |
| 2010 | $1,532 |
| 2009 | $1,477 |
Car insurance rates for BMW 5 Series vary by model year and insurance provider. State Farm offers the cheapest average car insurance for full coverage for both the oldest model year, 2009, at $1,087 per year, and the newest model year, 2022, at $1,663 per year.
| State Farm | $1,663 |
| Nationwide | $1,745 |
| GEICO | $1,827 |
| Travelers | $1,946 |
| Progressive | $2,271 |
| Farmers | $2,747 |
| Allstate | $2,837 |
Car insurance rates for BMW 5 Series vary greatly based on the driver’s age. Full coverage for a BMW 5 Series for a 16-year-old averages $8,197 per year, while a 40-year-old driver pays an average of $1,802 annually. As drivers age into their 20s, their rates tend to level off.
When it comes to car insurance for teens, it’s cheaper to be on a family plan than getting an individual policy. Underage drivers may also need a guardian’s permission to get insurance.
For a 16-year-old getting their own policy, State Farm is the cheapest insurer for a full coverage policy on a 2022 model with an annual premium of $5,429. In contrast, Farmers is the most expensive at $13,201 per year.
It's important for teens and their families to shop around to find the cheapest car insurance rates.
| State Farm | $5,429 |
| Nationwide | $7,096 |
| Travelers | $8,199 |
| GEICO | $8,502 |
| Allstate | $12,052 |
| Progressive | $13,138 |
| Farmers | $13,201 |
The cost of car insurance for a BMW 5 Series depends on several factors, including model type, year, driver age and location. Location can be even more significant, and the cheapest insurance company for a sample car varies across states. The cheapest state for insurance is Idaho, while Florida is the most expensive.
When shopping for car insurance for a BMW 5 Series, it's best to get quotes from the cheapest insurers in your state.
| Alabama | Nationwide | $709 | $59 |
| Alaska | State Farm | $699 | $58 |
| Arizona | Root Insurance Company | $682 | $57 |
| Arkansas | State Farm | $629 | $52 |
| California | AAA California | $1,001 | $83 |
| Colorado | American National P&C | $541 | $45 |
| Connecticut | GEICO | $693 | $58 |
| Delaware | State Farm | $881 | $73 |
| District of Columbia | GEICO | $662 | $55 |
| Florida | State Farm | $1,058 | $88 |
| Georgia | Country Financial | $665 | $55 |
| Hawaii | GEICO | $565 | $47 |
| Idaho | American National P&C | $299 | $25 |
| Illinois | Country Financial | $663 | $55 |
| Indiana | American Family | $555 | $46 |
| Iowa | State Farm | $509 | $42 |
| Kansas | Nationwide | $670 | $56 |
| Kentucky | Nationwide | $790 | $66 |
| Louisiana | Louisiana Farm Bureau | $1,048 | $87 |
| Maine | Concord Group | $521 | $43 |
| Maryland | Progressive | $938 | $78 |
| Massachusetts | State Farm | $483 | $40 |
| Michigan | GEICO | $898 | $75 |
| Minnesota | State Farm | $797 | $66 |
| Mississippi | Direct General Insurance | $723 | $60 |
| Missouri | Nationwide | $909 | $76 |
| Montana | Progressive | $437 | $36 |
| Nebraska | American National P&C | $405 | $34 |
| Nevada | CSAA | $940 | $78 |
| New Hampshire | State Farm | $540 | $45 |
| New Jersey | Plymouth Rock Assurance | $895 | $75 |
| New Mexico | State Farm | $644 | $54 |
| New York | Kemper | $781 | $65 |
| North Carolina | Erie | $630 | $52 |
| North Dakota | American Family | $616 | $51 |
| Ohio | Nationwide | $485 | $40 |
| Oklahoma | State Farm | $662 | $55 |
| Oregon | State Farm | $706 | $59 |
| Pennsylvania | Nationwide | $580 | $48 |
| Rhode Island | State Farm | $700 | $58 |
| South Carolina | American National P&C | $463 | $39 |
| South Dakota | Allstate | $746 | $62 |
| Tennessee | State Farm | $579 | $48 |
| Texas | State Farm | $699 | $58 |
| Utah | Nationwide | $725 | $60 |
| Vermont | State Farm | $493 | $41 |
| Virginia | American Family | $601 | $50 |
| Washington | PEMCO | $534 | $44 |
| West Virginia | Erie | $784 | $65 |
| Wisconsin | GEICO | $556 | $46 |
| Wyoming | State Farm | $745 | $62 |
Individuals shopping for car insurance for the BMW 5 Series may have questions regarding the cost and quality of the coverage. Here are the most commonly asked questions.
The average annual cost to insure a BMW 5 Series is $1,874. This means that insuring a BMW 5 Series is more expensive than insuring the average car model. State Farm offers the cheapest car insurance for this car model, costing an annual average of $1,423.
The best car insurance companies for the BMW 5 Series include State Farm and GEICO. These companies earned high MoneyGeek scores, but State Farm ranked well for affordability and customer satisfaction.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. 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 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.
