BMWs cost around $50 monthly for minimum coverage car insurance and $171 for full coverage. The automaker ranks 18th in affordability for minimum coverage and 21st for full coverage among the vehicle manufacturers we studied.
BMW Car Insurance
Updated: May 5, 2026
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Key Takeaways
State Farm offers the best and cheapest overall car insurance for BMWs with rates starting at $36 monthly for minimum coverage and $126 for full coverage.
Depending on various factors like age, model, and coverage level, BMW auto insurance costs can range anywhere from $394 to $819 annually for state minimum coverage.
BMW ranks 21st out of 23 automakers in our study for full coverage and 18th for minimum coverage, placing it on the more expensive side for car insurance.
How Much Is BMW Insurance on Average?
Coverage Level | Average Monthly Rate | Average Annual Rate | Affordability Ranking (Out of 23) |
|---|---|---|---|
Minimum Coverage | $50 | $599 | 18th |
Full Coverage | $171 | $2,051 | 21st |
*Rates are for a 40-year-old driver with good credit and no driving violations insuring 2012 to 2022 models for the BMW Model 3, Y, X and S.
Read more: The cost of BMW car insurance
BMW Car Insurance Cost by Model
The most expensive model from BMW for insurance is the BMW i8, costing $64 for state minimum coverage and $267 for full coverage monthly. The most affordable model is the BMW 4 series, with average monthly rates of $49 for state minimum coverage and $113 for full coverage. Find out if your dream car comes with high insurance premiums by reviewing car insurance rates by vehicle.
| BMW 1 Series | $581 | $1,670 |
| BMW I3 | $601 | $1,671 |
| BMW 3 Series | $630 | $1,642 |
| BMW X3 | $617 | $1,490 |
| BMW 4 Series | $577 | $1,901 |
| BMW X5 | $628 | $1,791 |
| BMW 5 Series | $623 | $1,802 |
| BMW 7 Series | $754 | $2,454 |
| BMW X7 | $686 | $2,344 |
| BMW i8 | $762 | $3,206 |
*Rates are for a 40-year-old driver with good credit and no driving violations for model years ranging from 2012 to 2022.
See our guide to BMW car insurance rates by model:
BMW Car Insurance Cost by Model Year
Usually, we have found that pricier and newer cars like a BMW cost more to insure. Below, compare insurance costs for your BMW by model and year.
Data filtered by:
2009
BMW 1 Series
| BMW 1 Series | 2009 | $607 | $1,314.08 |
*Rates are for a 40-year-old driver with good credit and no driving violations.
BMW Car Insurance Cost by Age
Teen drivers pay the most for BMW insurance, but as you get older, the price drops. Once you hit 60, though, it starts to go up a bit. BMW insurance can range from $592 to $8639 a year, depending on how old you are and if you choose minimum coverage or full coverage. Check out the table below to see the average costs for each age group.
Data filtered by:
16
| 16 | $3,113 | $8,639 |
*Rates are for a driver with good credit and no driving violations.
Is BMW Insurance Expensive?
BMW's high purchase price and repair costs push premiums above what most other automakers' drivers pay. Parts for BMW vehicles are costly to source and replace, and insurers price that risk into their rates. BMW drivers also ranked 7th in a LendingTree study on incidents by car brand. That ranking signals elevated risk to insurers, which can translate to higher quotes.
How Expensive Is BMW Insurance Compared to Similar Vehicles?
MoneyGeek compared a BMW X3 to similarly priced luxury SUVs to show how its insurance costs stack up. The table below reflects annual rates for both minimum and full coverage.
Make and Model | Average MSRP | Annual Minimum Coverage Rate | Annual Full Coverage Rate |
|---|---|---|---|
BMW X3 | $55,395 | $609 | $1,702 |
Audi Q5 | $54,095 | $574 | $1,776 |
Mercedes GLA 250 | $47,300 | $612 | $1,658 |
BMW Model Y | $49,380 | $623 | $2,189 |
Cheapest BMW Car Insurance Companies
State Farm offers the lowest average rates for BMW owners, at $36 per month for minimum coverage and $125 per month for full coverage. GEICO, Travelers, Nationwide and Progressive also offer competitive rates for BMW drivers.
| State Farm | $36 | $126 |
| GEICO | $37 | $136 |
| Travelers | $43 | $146 |
| Progressive | $51 | $165 |
| Nationwide | $59 | $151 |
Read More: Best Luxury Car Insurance
Cheapest Car Insurance by Model
While the above companies offer the most affordable overall insurance, for BMW models, State Farm provides the cheapest minimum coverage for all models except one in our study. In the table below, you can see the cheapest provider for each model overall.
| BMW 1 Series | State Farm | $35 | $110 |
| BMW 3 Series | State Farm | $36 | $106 |
| BMW I3 | GEICO | $33 | $107 |
| BMW X3 | State Farm | $35 | $100 |
| BMW 4 Series | State Farm | $35 | $135 |
| BMW 5 Series | State Farm | $36 | $119 |
| BMW X5 | State Farm | $36 | $123 |
| BMW 7 Series | State Farm | $36 | $158 |
| BMW X7 | State Farm | $33 | $144 |
| BMW i8 | State Farm | $38 | $202 |
Cheapest BMW Car Insurance by Model Year
Explore the table below for the most affordable car insurance tailored to your BMW model and year.
Data filtered by:
BMW 1 Series
2009
| State Farm | $394 | $964 |
| GEICO | $445 | $1,090 |
| Travelers | $506 | $1,179 |
| Nationwide | $573 | $1,390 |
| Allstate | $598 | $1,312 |
Cheapest BMW Car Insurance by Age
The lowest overall BMW Insurance rates by age vary anywhere from $54 per month to $829 monthly, offered by State Farm. Below, you'll find the top five most affordable providers broken down by different ages for BMW vehicles.
Data filtered by:
40
| State Farm | $484 | $1,509 |
| GEICO | $497 | $1,627 |
| Travelers | $587 | $1,756 |
| Progressive | $703 | $1,975 |
| Nationwide | $810 | $1,817 |
Best Car Insurance for BMW Vehicles
From our research, we found that the best overall companies to insure your BMW with are State Farm, GEICO, Travelers, Nationwide, and Progressive. Each company has a great mix of low rates, extensive coverage options, and good customer service reputations.
| Progressive | 83 |
| Nationwide | 85.27 |
| Travelers | 87.87 |
| GEICO | 88.48 |
| State Farm | 90.12 |
State Farm: Best for Most BMW Drivers
pros
High customer satisfaction ratings
Lowest rates for most BMW drivers
Extensive discounts for young drivers
cons
Smaller coverage selection
COMPANY HIGHLIGHTS
For BMW drivers, State Farm has the cheapest rates overall for their vehicles, with the lowest possible premiums for almost all of the models we studied, regardless of driver profile. The company stands out most for its higher-than-average customer service and claims satisfaction, ranking 6th overall for claims satisfaction according to J.D. Power. They also offer particularly attractive discounts for drivers under 25 with reductions for students and a defensive driving program that can save you up to 20%.
GEICO: Best for Electric BMW Owners
pros
Most affordable rates for electric BMWs
Great customer satisfaction ratings in the North East and for their Usage-based program
Most extensive discount selection, especially for federal employees and military
cons
Lower than average customer service ratings nationwide
Expensive rates for all other BMW models
COMPANY HIGHLIGHTS
Although it's not the most affordable option for most BMW models, GEICO stands out as the top provider for the electric BMW owners. It offers the most affordable rates for the all-electric BMW I3 at as low as $33 monthly. Out of all of the providers on our list, GEICO also offers the most extensive discount selections with unique premium reductions for federal employees, military, and younger drivers that can save you up to 25%. This includes its DriveEasy program, which can save you up to 30% on premiums, and ranks 2nd nationwide according to J.D. Power.
Nationwide: Best for New BMW Owners
pros
Pay-per-mile program for low-mileage BMW drivers
Lower rates for newer BMW models
Highest-rated usage-based discount program in the country
cons
Below-average customer satisfaction scores nationwide
COMPANY HIGHLIGHTS
While not the most affordable for most models overall, Nationwide does offer some of the lowest rates for newer BMWs. It offers coverage options for a pay-per-mile car insurance program called SmartMiles and a vehicle value upgrade add-on that replaces your car with a new vehicle of comparable value if your car is totaled. The company also has the best customer satisfaction rating for their usage-based car insurance discount program SmartRide, according to J.D. Power (tied for the largest possible discount in the nation of up to 40%)
How to Find the Best Cheap Car Insurance Company for Your BMW
Discover affordable BMW coverage and learn how to lower your auto insurance costs with our straightforward tips.
- 1Assess your needs
Decide how much coverage you need and what deductible you're comfortable with. Use MoneyGeek's car insurance coverage calculator to get a personalized estimate.
- 2Research average costs and discounts
Look up average BMW insurance rates and identify discounts that fit your driving profile. Knowing which discounts apply before you start comparing quotes helps you evaluate each offer accurately.
- 3Compare multiple providers
Get quotes from at least three insurers and review each company's coverage options and claims reputation. Rates and policy details vary enough across providers that skipping this step often means overpaying.
- 4Consider BMW's insurance program
BMW's manufacturer insurance partnerships are built around the vehicle's safety ratings and can offer coverage options not available through standard insurers. It's worth getting a quote through the program before making a final decision.
BMW Auto Insurance Cost: Bottom Line
BMW vehicle insurance ranks 21st for full coverage and 18th for state minimum, indicating higher costs. Yet, more affordable options are within reach. We advise comparing quotes from various providers to secure the best value.
BMW Car Insurance: FAQ
Here are expert answers from MoneyGeek to common questions about BMW car insurance.
Which insurance company is the cheapest for BMW?
For BMW car insurance, State Farm, GEICO, and Travelers are the most affordable providers.
How much is BMW car insurance?
BMW car insurance costs on average $1,708 per year for full coverage and $600 annually for state minimum coverage. Monthly, you'll pay about $171 for full coverage and roughly $50 for minimum coverage.
Is car insurance on a BMW more expensive?
Yes, car insurance on a BMW is generally more expensive due to its status as a luxury brand, which often translates into higher MSRPs and elevated repair costs. BMW vehicles can also come with advanced technology and performance features that are costlier to repair or replace.
Which BMW model is the cheapest to insure?
Overall, the BMW X3 model year 2020 is the cheapest overall BMW to insure largely due to its lower value and repair costs.
How We Determined BMW Auto Insurance Costs
We calculated BMW insurance costs using data from Quadrant Information Services. Rates are based on the following driver profile:
- 40-years-old
- Good credit
- No driving violations
- 12,000 miles driven annually
Minimum coverages are based on state requirements. Full coverage includes a 100/300/100 liability insurance split and comprehensive and collision coverage with a $1,000 deductible.
How We Chose Best and Cheapest Car Insurance for BMWs
MoneyGeek scored BMW insurance options across five weighted factors to identify the best and most affordable providers:
- Customer satisfaction (35%): J.D. Power's satisfaction study and NAIC complaint index scores
- Affordability (30%): Rate comparisons sourced from Quadrant Information Services
- Claims (20%): J.D. Power Claims Study results and CRASH Report Card grades, weighted equally
- Coverage options (10%): Roadside assistance, rental car reimbursement, OEM coverage and gap insurance availability
- Financial stability (5%): M Best ratings on insurer financial health
Data Sources
- AM Best: Financial strength ratings for insurers
- J.D. Power: Industry research and analytics
- NAIC: Consumer complaint and insurance data
- Quadrant Information Services: Car insurance pricing and comparative data
Analysis
MoneyGeek analyzed 80,676 quotes from seven insurers. Rates are based on a standard profile: a 40-year-old single male with a clean driving record. MoneyGeek also adjusted results by age, location and driving history to reflect a broader range of BMW drivers.
The term 100/300/100 means:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
Learn more about MoneyGeek's methodology.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights on products ranging from car, home and renters insurance to health and life insurance have been featured in The Washington Post, The New York Times and NPR, among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to the analysis of the personal insurance market. He's also a five-time Jeopardy champion!
Sources
- LendingTree. "Tesla, Ram, Subaru Have Worst Drivers, While Mercury, Pontiac, Cadillac Have Best." Accessed June 18, 2025.