The annual cost of full coverage car insurance for a BMW i8 ranges from $2,294 to $13,470. Rates can vary greatly depending on the car's production year, driver's age, location and driving history. In this article, we explore BMW i8 insurance costs and coverage, highlighting the best companies and most affordable insurers.
BMW i8 Insurance Cost
Updated: March 11, 2025
Key Takeaways
GEICO provides the most affordable minimum coverage across all BMW i8 model years at $414 annually.
For a BMW i8, the average annual minimum coverage cost is $686, while full coverage averages $2,978.
To provide these insights, MoneyGeek analyzed data and 1,793 quotes for a BMW i8 from Quadrant Information Services.
BMW i8 Insurance Rates
What Is the Average BMW i8 Car Insurance Cost?
The average cost of full coverage insurance for a BMW i8 is $248 per month or $2,978 per year, based on a 40-year-old male driver with a clean record. Minimum coverage averages $57 per month or $686 per year.
| Minimum Coverage | $686 |
| Full Coverage | $2,978 |
BMW i8 Insurance Costs by Company
BMW i8 insurance costs range from $1,925 to $4,681 per year, varying by age, model year and coverage level. The table below shows how average BMW i8 premiums compare with average rates for all vehicles from several national and midsize providers.
| Allstate | $4,330 | $1,797 | 141% |
| Auto-Owners | $1,925 | $1,223 | 57% |
| Farmers | $4,681 | $1,941 | 141% |
| GEICO | $2,906 | $1,324 | 120% |
| Kemper | $3,469 | $2,204 | 57% |
| Nationwide | $3,260 | $1,579 | 106% |
| Progressive | $2,414 | $1,738 | 39% |
| State Farm | $2,569 | $1,262 | 104% |
| Travelers | $2,833 | $1,514 | 87% |
| USAA | $3,424 | $1,188 | 188% |
Read more: Best Car Insurance Companies
Cost of Insuring a BMW i8 by Model Year
The year your BMW i8 was produced can affect your insurance rates, with older models often being cheaper to insure. For example, a 2020 BMW i8 might have a full coverage rate of $3,117, while a 2015 model could cost around $2,765. Below are the average full and minimum coverage rates for each production year.
| 2020 | $809 | $3,117 |
| 2019 | $662 | $3,039 |
| 2018 | $677 | $3,043 |
| 2017 | $692 | $3,047 |
| 2016 | $696 | $2,946 |
| 2015 | $686 | $2,765 |
BMW i8 Insurance Costs by Driver Age
BMW i8 insurance rates differ significantly depending on the driver's age. For example, a 40-year-old pays an average of $2,993 annually for full coverage, while a 16-year-old pays $13,470. Below are the average full and minimum coverage rates for BMW i8 drivers across age ranges.
| 16 | $3,383 | $13,470 |
| 17 | $2,692 | $10,783 |
| 18 | $2,398 | $9,531 |
| 19 | $1,708 | $6,870 |
| 20 | $1,543 | $6,252 |
| 21 | $1,162 | $4,935 |
| 22 | $1,066 | $4,568 |
| 23 | $989 | $4,269 |
| 24 | $939 | $4,063 |
| 25 | $836 | $3,645 |
| 26 | $808 | $3,477 |
| 27 | $788 | $3,397 |
| 28 | $774 | $3,339 |
| 29 | $761 | $3,288 |
| 30 | $736 | $3,167 |
| 35 | $710 | $3,053 |
| 40 | $704 | $2,993 |
| 45 | $699 | $2,948 |
| 50 | $678 | $2,847 |
| 55 | $656 | $2,762 |
| 60 | $653 | $2,753 |
| 65 | $721 | $2,790 |
| 70 | $779 | $2,971 |
| 75 | $872 | $3,278 |
| 80 | $985 | $3,638 |
| 85 | $1,069 | $3,936 |
| 90 | $1,137 | $4,151 |
BMW i8 Insurance Rates Explained
A number of factors affect car insurance rates based on driver profiles. However, insurers also consider factors tied to your car. The list below breaks down the vehicle-related cost factors, such as make, model, age, safety features and repair costs.
BMW i8 Rates vs. National Average
All Vehicles
Average Full Coverage Rate
$1,296BMW i8
Average Full Coverage Rate
$2,978Premiums for BMW i8 are:$1,682 more
This is 130% more expensive.
Value
The BMW i8's MSRP of $164,295 makes it a luxury car, which means insurers charge more for insurance.
Repair costs
The BMW i8's repair cost is $979, lower than the national average. However, expensive parts and labor can still affect insurance costs.
Performance
The BMW i8 goes from 0 to 60 in 4.1 seconds and has 369 horsepower. Its high performance can lead to higher insurance costs due to perceived risk.
Fuel type
Electric cars like the BMW i8 often cost more to insure due to battery costs and limited repair shops.
Vehicle age
Newer cars like the BMW i8 are typically more expensive to insure than older vehicles. Collector and classic cars can also be costly to insure.
Safety features
Safety features like stability control, airbags and antilock brakes can qualify the BMW i8 for insurance discounts.
Vehicle size
Larger vehicles like the BMW i8, with a curb weight of 3,671 lbs, can cost more to insure due to potential property damage.
Trim level
Higher trim levels with premium upgrades lead to a higher MSRP, making the BMW i8 more expensive to insure than the base model.
Cheapest BMW i8 Insurance
GEICO offers the most affordable insurance rate for a BMW i8 at $414 per year for minimum coverage, based on a 40-year-old male driver with a clean record. Below is a breakdown of the cheapest rates across coverage levels, age groups, driving records, model years and more.
Cheapest BMW i8 Insurance by Coverage Level
Your chosen coverage level greatly affects your BMW i8 insurance rate. GEICO has the cheapest average rate for minimum coverage, while Progressive offers the most affordable full coverage. Below is a breakdown of the cheapest providers for both coverage types.
Cheapest BMW i8 Minimum Coverage
GEICO offers the cheapest minimum coverage for a BMW i8 at $34 monthly. Other affordable options include State Farm at $43, Travelers at $45 and Allstate at $52.
| GEICO | $34 | $414 |
| USAA | $42 | $506 |
| State Farm | $43 | $516 |
| Travelers | $45 | $543 |
| Allstate | $52 | $618 |
| Progressive | $57 | $681 |
| Nationwide | $78 | $937 |
| Farmers | $102 | $1,227 |
Best BMW i8 Insurance Rates by Model Year
Since the above list doesn't account for the model production year, lower rates may be available depending on your vehicle's age. To find the cheapest minimum coverage rates for each BMW i8 production year, filter the table below.
Data filtered by:Results filtered by:
Select
Model Year:2015
| Allstate | $632 | $53 |
| Farmers | $1,286 | $107 |
| GEICO | $429 | $36 |
| Nationwide | $601 | $50 |
| Progressive | $655 | $55 |
| State Farm | $521 | $43 |
| Travelers | $549 | $46 |
| USAA | $439 | $37 |
*USAA is available only to military veterans, active service members and their families.
Cheapest Full Coverage BMW i8 Insurance
Progressive offers the most affordable full coverage insurance for a BMW i8 at $2,294 annually or $191 monthly. Below is a complete list of BMW i8 full coverage providers and rates.
| Progressive | $191 | $2,294 |
| State Farm | $202 | $2,423 |
| GEICO | $222 | $2,669 |
| Travelers | $227 | $2,729 |
| Nationwide | $246 | $2,947 |
| USAA | $265 | $3,179 |
| Allstate | $338 | $4,060 |
| Farmers | $357 | $4,288 |
Cheapest BMW i8 Insurance by Age
Younger drivers aged 16 to 25 and seniors 55 and up often pay more for car insurance. Below is the breakdown of the cheapest BMW i8 insurance by age.
Cheapest BMW i8 Insurance for Young Drivers
Young drivers can find the cheapest insurance with GEICO, which offers minimum coverage for $944 annually or $79 monthly. Below is the complete list of affordable rates for BMW i8 drivers aged 16 to 25.
| GEICO | $79 | $944 |
| USAA | $89 | $1,069 |
| Travelers | $93 | $1,116 |
| State Farm | $94 | $1,130 |
| Allstate | $116 | $1,387 |
| Progressive | $164 | $1,965 |
| Nationwide | $216 | $2,591 |
| Farmers | $289 | $3,462 |
Cheapest BMW i8 Insurance for Seniors
GEICO offers the cheapest car insurance for seniors aged 55 and up at $41 monthly or $486 annually. See the full list of affordable BMW i8 insurers below:
| GEICO | $41 | $486 |
| State Farm | $47 | $567 |
| Travelers | $54 | $644 |
| USAA | $56 | $677 |
| Allstate | $62 | $745 |
| Progressive | $70 | $837 |
| Nationwide | $92 | $1,106 |
| Farmers | $146 | $1,749 |
Cheapest BMW i8 Insurance After an Accident
GEICO, State Farm and Travelers offer the cheapest car insurance after an accident. For more BMW i8 insurance options, see the complete list below.
| GEICO | $53 | $639 |
| State Farm | $54 | $646 |
| Travelers | $64 | $763 |
| USAA | $65 | $778 |
| Allstate | $69 | $832 |
| Progressive | $91 | $1,095 |
| Nationwide | $123 | $1,479 |
| Farmers | $237 | $2,843 |
BMW i8 Insurance Cost: Bottom Line
Compare car insurance rates from different providers regularly to find the most affordable options. This article examines BMW i8 insurance, detailing costs across demographic groups and the cheapest providers.
BMW i8 Insurance Rates: FAQ
Below are answers to common questions about BMW i8 insurance costs, including options for minimum coverage and affordable plans.
What company has the cheapest car insurance for a BMW i8?
GEICO offers the cheapest car insurance for a BMW i8, with an annual minimum coverage rate of $414.
What is the average cost of car insurance for a BMW i8?
The average annual cost of minimum car insurance for a BMW i8 is $686, while full coverage averages $2,978.
BMW i8 Insurance Ratings: Our Review Methodology
MoneyGeek analyzed data and 1,793 quotes for a BMW i8 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 i8:
- 40-year-old male
- Clean driving record
- 12,000 miles driven annually
We also modified the sample driver profile to determine BMW i8 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 i8.
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 liability 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.