Full coverage insurance costs for a BMW i3 range from $1,210 to $7,370 annually. Rates vary by the car's production year, driver's age, location, driving history, coverage level and insurer. This article breaks down BMW i3 insurance costs and coverage, highlighting the best companies and most affordable insurers.
BMW i3 Insurance Cost
Updated: February 18, 2025
Key Takeaways
GEICO offers the most affordable annual rate for minimum coverage across all BMW i3 model years at $445.
The average annual cost of minimum coverage for a BMW i3 is $577, while full coverage averages $1,677.
MoneyGeek analyzed data, using 4,183 quotes from Quadrant Information Services, to provide insights into BMW i3 insurance costs.
BMW i3 Insurance Rates
What Is the Average BMW i3 Car Insurance Cost?
The average full coverage insurance cost for a BMW i3 is $140 per month or $1,677 per year, based on a 40-year-old male driver with a clean record. For minimum coverage, the rates are around $48 monthly or $577 yearly.
| Minimum Coverage | $577 |
| Full Coverage | $1,677 |
BMW i3 Insurance Costs by Company
BMW i3 insurance costs range from $1,264 to $2,609 annually, depending on age, model year and coverage level. The table below compares rates from various national and mid-sized providers against their average vehicle insurance costs.
| Allstate | $2,316 | $1,807 | 28% |
| Auto-Owners | $1,370 | $1,225 | 12% |
| Farmers | $2,104 | $1,953 | 8% |
| GEICO | $1,304 | $1,331 | -2% |
| Kemper | $2,609 | $2,208 | 18% |
| Nationwide | $1,712 | $1,586 | 8% |
| Progressive | $2,080 | $1,740 | 20% |
| State Farm | $1,463 | $1,267 | 15% |
| Travelers | $1,367 | $1,521 | -10% |
| USAA | $1,264 | $1,198 | 5% |
Read more: Best Car Insurance Companies
Cost of Insuring a BMW i3 by Model Year
Your BMW i3's production year can influence insurance rates, with older models generally being cheaper to insure. For instance, full coverage for a 2015 BMW i3 averages $1,558 annually, compared to $1,806 for a 2020 model. Below are the average full and minimum coverage rates for each BMW i3 production year.
| 2021 | $570 | $1,749 |
| 2020 | $586 | $1,806 |
| 2019 | $585 | $1,712 |
| 2018 | $592 | $1,705 |
| 2017 | $596 | $1,650 |
| 2016 | $596 | $1,604 |
| 2015 | $594 | $1,558 |
BMW i3 Insurance Costs by Driver Age
BMW i3 insurance rates differ greatly based on driver age. For instance, 40-year-olds pay an average of $1,683 annually for full coverage, while 16-year-olds may pay as much as $7,370. Below are the average minimum and full coverage rates across various age groups.
| 16 | $2,679 | $7,370 |
| 17 | $2,184 | $6,041 |
| 18 | $1,911 | $5,330 |
| 19 | $1,361 | $3,808 |
| 20 | $1,224 | $3,463 |
| 21 | $969 | $2,795 |
| 22 | $886 | $2,570 |
| 23 | $822 | $2,398 |
| 24 | $780 | $2,279 |
| 25 | $686 | $2,020 |
| 26 | $670 | $1,962 |
| 27 | $654 | $1,918 |
| 28 | $643 | $1,887 |
| 29 | $633 | $1,859 |
| 30 | $611 | $1,784 |
| 35 | $594 | $1,720 |
| 40 | $588 | $1,683 |
| 45 | $583 | $1,656 |
| 50 | $568 | $1,601 |
| 55 | $553 | $1,553 |
| 60 | $553 | $1,548 |
| 65 | $592 | $1,604 |
| 70 | $642 | $1,715 |
| 75 | $713 | $1,882 |
| 80 | $806 | $2,091 |
| 85 | $873 | $2,246 |
| 90 | $923 | $2,352 |
BMW i3 Insurance Rates Explained
Several factors influence car insurance rates based on driver profiles, but insurers also consider vehicle-specific aspects. Below are key cost factors related to your BMW i3, including its type, safety features and age.
BMW i3 Rates vs. National Average
All Vehicles
Average Full Coverage Rate
$1,296BMW i3
Average Full Coverage Rate
$1,677Premiums for BMW i3 are:$381 more
This is 29% more expensive.
Value
The BMW i3's MSRP is $52,495, which classifies it as a luxury electric car. This high MSRP may lead to higher insurance premiums.
Repair costs
The BMW i3's repair costs are $1,173 annually, above the national average. Expensive parts and labor can increase insurance costs.
Performance
The BMW i3 accelerates from 0 to 60 in 6.6 seconds and has a horsepower range of 170 to 181. Its moderate performance may make it less risky for insurers, potentially lowering insurance costs.
Fuel type
The BMW i3 is an electric vehicle, which costs more to insure due to battery costs and limited repair shops.
Vehicle age
Newer cars like the BMW i3 are typically more expensive to insure than older vehicles. Collector and classic cars are exceptions.
Safety features
Safety features like stability control and airbags can qualify for insurance discounts. The BMW i3 includes these to reduce accident risk.
Vehicle size
Larger vehicles cost more to insure due to potential property damage. The BMW i3 is a smaller vehicle, which may lower insurance costs.
Trim level
Higher trim levels with premium upgrades lead to a higher MSRP. The BMW i3's higher trim level will cost more to insure than the base model.
Cheapest BMW i3 Insurance
GEICO offers the most affordable insurance for a BMW i3 at $445 per year for minimum coverage, based on a 40-year-old male driver with a clean driving record. Below is a breakdown of the cheapest rates across various coverage levels, age groups, driving records, model years and more.
Cheapest BMW i3 Insurance by Coverage Level
Choosing your coverage level greatly impacts your BMW i3 insurance costs. GEICO provides the lowest rates for minimum and full coverage policies. Below is a breakdown of the cheapest providers for each coverage type.
Cheapest BMW i3 Minimum Coverage
For BMW i3 owners, GEICO offers the cheapest minimum coverage at $37 per month. State Farm follows at $41, with Travelers and Nationwide offering competitive rates of $47 and $52, respectively.
| USAA | $33 | $400 |
| GEICO | $37 | $445 |
| State Farm | $41 | $497 |
| Travelers | $47 | $570 |
| Nationwide | $52 | $623 |
| Progressive | $55 | $655 |
| Allstate | $57 | $678 |
| Farmers | $59 | $707 |
*GEICO offers the lowest average minimum coverage insurance rate for non-military-affiliated BMW i3 owners. USAA is the most affordable option for military-affiliated drivers.
Best BMW i3 Insurance Rates by Model Year
The above list doesn't account for your BMW i3's production year, so lower rates might be available depending on your vehicle's age. To find the cheapest minimum coverage rates for each BMW i3 production year, filter the table below.
Data filtered by:Results filtered by:
Select
Model Year:2015
| Allstate | $696 | $58 |
| Farmers | $714 | $59 |
| GEICO | $456 | $38 |
| Nationwide | $629 | $52 |
| Progressive | $644 | $54 |
| State Farm | $516 | $43 |
| Travelers | $571 | $48 |
| USAA | $394 | $33 |
*USAA is available only to military veterans, active service members and their families.
Cheapest Full Coverage BMW i3 Insurance
GEICO offers the cheapest full coverage for a BMW i3, costing $106 monthly or $1,271 annually. Below is a complete list of full coverage car insurance providers and their rates for the BMW i3.
| USAA | $101 | $1,210 |
| GEICO | $106 | $1,271 |
| Travelers | $113 | $1,358 |
| State Farm | $118 | $1,416 |
| Nationwide | $133 | $1,595 |
| Farmers | $164 | $1,964 |
| Progressive | $167 | $1,999 |
| Allstate | $183 | $2,198 |
*On average, GEICO is the cheapest insurer for non-military-affiliated BMW i3 owners seeking full coverage. For military-affiliated drivers, USAA is the most affordable option.
Cheapest BMW i3 Insurance by Age
Young drivers aged 16 to 25 and seniors aged 55+ often face higher BMW i3 insurance rates. Below, we break down the cheapest BMW i3 insurance options by age.
Cheapest BMW i3 Insurance for Young Drivers
For young BMW i3 drivers aged 16 to 25, GEICO offers the cheapest insurance at $86 monthly and $1,033 annually for minimum coverage. Below is a table showing the full list of affordable options for young drivers.
| USAA | $69 | $825 |
| GEICO | $86 | $1,033 |
| State Farm | $91 | $1,093 |
| Travelers | $98 | $1,176 |
| Allstate | $127 | $1,522 |
| Nationwide | $136 | $1,634 |
| Farmers | $157 | $1,884 |
| Progressive | $160 | $1,925 |
*GEICO is the cheapest insurer for young, non-military-affiliated drivers. USAA is the most affordable option for military-affiliated drivers.
Cheapest BMW i3 Insurance for Seniors
GEICO offers the cheapest car insurance for seniors aged 55 and up at $526 annually or $44 monthly. Check the full list of affordable BMW i3 insurers below.
| GEICO | $44 | $526 |
| USAA | $44 | $529 |
| State Farm | $46 | $547 |
| Travelers | $56 | $676 |
| Nationwide | $61 | $732 |
| Progressive | $67 | $808 |
| Allstate | $68 | $819 |
| Farmers | $81 | $968 |
Cheapest BMW i3 Insurance After an Accident
For BMW i3 drivers, State Farm, GEICO and Travelers offer the cheapest car insurance after an accident. For more options, see the complete list below.
| USAA | $50 | $604 |
| State Farm | $52 | $625 |
| GEICO | $58 | $692 |
| Travelers | $67 | $809 |
| Allstate | $77 | $928 |
| Nationwide | $79 | $952 |
| Progressive | $88 | $1,062 |
| Farmers | $120 | $1,443 |
BMW i3 Insurance Cost: Bottom Line
Compare rates from different providers regularly to secure the cheapest car insurance. This article examined BMW i3 insurance costs across demographic groups and highlighted the most affordable options.
BMW i3 Insurance Rates: FAQ
Below are common questions about BMW i3 insurance costs, explained in simple terms.
What company has the cheapest car insurance for a BMW i3?
GEICO offers the cheapest car insurance for a BMW i3, with minimum coverage starting at $445.
What is the average cost of car insurance for a BMW i3?
The average annual cost of minimum coverage for a BMW i3 is $577, while full coverage averages $1,677.
BMW i3 Insurance Ratings: Our Review Methodology
MoneyGeek analyzed data and 4,183 quotes for a BMW i3 from Quadrant Information Services.
Drivers and Cars
MoneyGeek used a sample driver profile with the following characteristics to calculate the average rates for insuring a BMW i3:
- 40-year-old male
- Clean driving record
- 12,000 miles driven annually
We also modified the sample driver profile to determine BMW i3 insurance rates for different age groups, driving records and model years. MoneyGeek collected data for the following model years:
- 2012
- 2013
- 2014
- 2015
- 2016
- 2017
- 2018
- 2019
- 2020
- 2021
- 2022
If data on specific model years wasn't available, our data scientists estimated rates based on how insurers typically price car models each year. The published rates are estimates and may not reflect the rate you'll receive for your BMW i3.
Coverage Levels
Each state differs in minimum coverage requirements, so our rates are a combination of minimum coverage policies in the states where we gathered our data.
MoneyGeek’s analysis also includes average rates for a full coverage policy that includes comprehensive and collision coverage (with a $1,000 deductible) and the following increased coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability per accident
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds 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 five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.