Insurance rates for a BMW X3 vary depending on the driver's age and the car's model year. For example, insuring a 16-year-old driving a 2009 model costs $6,187, while insuring a 40-year old costs $1,331. Insurance for a 2022 model costs $7,712 for a 16-year-old and $1,702 for a 40-year old driver. MoneyGeek has identified the best insurers that balance affordability, service and claims experience.
Compare the Cost of BMW X3 Insurance by Model Year and Company
Updated: January 15, 2025
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Key Takeaways
When it comes to insuring a BMW X3, affordability is a crucial factor, and the choice of insurer significantly impacts annual premiums. Here are the top choices for both full and minimum coverage based on cost-effectiveness:
Full Coverage:
- State Farm is the most affordable option for full coverage, offering an annual premium of $1,206. They have also been noted for exceptional customer satisfaction and a strong MoneyGeek score of 90 out of 100.
- In contrast, Farmers is the priciest for full coverage at $1,833 annually.
Minimum Coverage:
- State Farm again emerges as the most economical for minimum coverage at $471 per year. This makes it an excellent choice for those prioritizing cost-effectiveness.
- On the higher side, Farmers charges $778 annually for minimum coverage.
Insurance Cost Factors:
- Driver's Age: Insurance costs are higher for younger drivers, with a 16-year-old facing premiums up to $6,841 per year compared to $1,490 for a 40-year-old.
- Model Year: Newer models like the 2022 BMW X3 have higher insurance rates, averaging around $1,702 annually, while older 2009 models cost about $1,331 per year.
- Location and Driving History: These can further influence rates, emphasizing the importance of comparing quotes tailored to your specific circumstances.
Recommendation:
For those seeking affordability without compromising on service, State Farm is consistently highlighted as the best choice for both full and minimum coverage. Their competitive rates and high customer satisfaction score make them a preferred insurer for BMW X3 owners. Always consider obtaining quotes from multiple providers to ensure the best deal tailored to your needs and location.
Based on the given data, the best car insurance provider for a BMW X3 is State Farm. It offers a strong balance of affordability, customer service, and claims experience. Here are the details:
- MoneyGeek Score: 90 out of 100
- Annu**al Premium for Full Coverage: $1,**206 per year
State Farm is highlighted as the most cost-effective option for both full coverage and minimum coverage, making it a great choice overall, especially for older drivers. Additionally, GEICO is a close second, with a MoneyGeek score of 89 out of 100 and an annual premium of $1,265, known for slightly better claims experience.
When choosing car insurance for a BMW X3, consider not just the cost but also factors like customer service and claims experience.
Age significantly affects car insurance premiums for a BMW X3, as young drivers typically face higher rates compared to older drivers. Insurance companies view younger drivers, particularly teenagers, as higher risk due to their inexperience and statistically higher likelihood of accidents. This risk assessment leads to substantial premium variations based on age.
Annual Costs by Age
- 16-Year-Old Driver:
- For a 2009 BMW X3 model, the insurance cost is $6,187 annually.
- For a 2022 BMW X3 model, the insurance cost is $7,712 annually.
- 40-Year-Old Driver:
- For a 2009 BMW X3 model, the insurance cost is $1,331 annually.
- For a 2022 BMW X3 model, the insurance cost is $1,702 annually.
Rate Trends
As drivers age, insurance premiums generally decrease. This reduction happens because:
- Young drivers have limited experience, leading to higher perceived risk.
- With more experience and typically safer driving habits, older drivers are less likely to file claims, leading to lower rates.
- The biggest reduction in rates tends to occur when a driver moves out of their teens and into their 20s.
Comparing Insurance Providers
The choice of insurance provider can further impact premiums. For instance:
- State Farm offers some of the most affordable full coverage annually at $1,206, while Farmers charges $1,833.
- For minimum coverage, State Farm costs $471 per year, whereas Farmers costs $778.
Additional Considerations
- The model year significantly impacts insurance costs; newer models, like the 2022 BMW X3, have higher rates due to increased car values and repair costs.
- Insurance costs can also be influenced by factors such as the driver’s location, driving record, and specific coverage options.
Cost-Reduction Tips
- Teens might consider being added to a family plan to reduce costs, as individual policies for them are generally much pricier.
- Comparing quotes from multiple providers, particularly those highly rated for BMW X3 insurance like State Farm and GEICO, is crucial for obtaining the best rates.
In conclusion, while BMW X3 insurance costs are influenced by model year, driver age remains a key determinant, with younger drivers facing steeper rates that typically ease as they grow older and accumulate more driving experience.
Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze the average rates for a BMW X3.
We updated these rates to reflect the average cost of car insurance for a BMW X3 as of 2023.
10Companies Compared
41,832 Quotes Analyzed
Average Cost and Cheapest Companies for Insuring a BMW X3
BMW X3 insurance costs an average of $1,535 annually, but the provider you choose can significantly impact your premiums. For full coverage, State Farm is the cheapest option at $1,206 per year, while Farmers is the most expensive at $1,833 per year.
State Farm is the cheapest provider for minimum coverage at $471 per year, while Farmers is the most expensive at $778 per year. Since prices can vary based on factors like driver age, location and driving history, 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 | $1,206 |
| GEICO | $1,265 |
| Travelers | $1,368 |
| Nationwide | $1,409 |
| Progressive | $1,670 |
| Allstate | $1,699 |
| Farmers | $1,833 |
Is a BMW X3 Expensive to Insure?
Insurers consider many factors when determining car insurance premiums for a BMW X3. This model series is expensive to insure because the National Highway Traffic Safety Administration (NHTSA) reports it is stolen more often than the average rate. A BMW X3 is a high-value car with an MSRP of $44,695. In addition, sports cars are also more expensive to insure because drivers tend to engage in risky behavior.
Best Companies for Insuring a BMW X3
When shopping for BMW X3 insurance, cost is only one factor to consider. 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 X3.
- State Farm: MoneyGeek score of 90 out of 100 ($1,206 per year)
- GEICO: MoneyGeek score of 89 out of 100 ($1,265 per year)
While State Farm scored the highest in customer satisfaction, GEICO performed slightly better in claims experience. However, both insurers received the same rating for coverages offered.
MoneyGeek Top Pick: State Farm
pros
Has the lowest premium
Good customer satisfaction rating
Roadside assistance coverage
cons
Limited add-on coverage options
Below-average claims handling score
COMPANY HIGHLIGHTS
State Farm is the best car insurance provider for a BMW X3, offering the lowest premium and the second-highest customer satisfaction score. It offers rental car and/or travel reimbursement and roadside assistance as add-ons.
State Farm offers rental car and travel reimbursement, which covers car rental expenses up to certain limits, travel expenses and repayment of up to $500 of the deductible if you cause an accident in your rental car. Additionally, the company provides roadside assistance, which 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.
MoneyGeek Runner-Up: GEICO
pros
Second most affordable premium
Good customer satisfaction rating
cons
Limited add-on coverage options
Below-average claims experience rating
COMPANY HIGHLIGHTS
GEICO is a popular car insurance provider that offers comprehensive coverage options for BMW X3 drivers. While its add-on options are limited, it provides coverages most drivers will find useful. The company offers rental car and travel reimbursement coverage, which pays for a rental car if your vehicle is unusable due to a covered accident.
GEICO’s mechanical breakdown insurance (MBI) offers coverage for all parts and systems at a more affordable cost than most dealer-extended warranties. It's available for new or leased cars under 15 months old and with less than 15,000 miles.
The company offers accident forgiveness coverage, which policyholders can purchase or earn if they are 21 and have not had an accident in the past five years. This coverage prevents your rate from increasing after your first at-fault accident. However, it is not available in Massachusetts, California and Connecticut.
Cost of Insuring a BMW X3 by Model Year
Insurance rates for a 2022 BMW X3 are around $1,702 per year, while insuring a 2009 model costs $1,331 annually. Newer model years are typically more expensive due to higher values and repair costs.
Data filtered by:Results filtered by:
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Age:40
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Coverage:Full Coverage
| 2022 | $1,702 |
| 2021 | $1,658 |
| 2020 | $1,611 |
| 2019 | $1,618 |
| 2018 | $1,597 |
| 2017 | $1,529 |
| 2016 | $1,514 |
| 2015 | $1,473 |
| 2014 | $1,408 |
| 2013 | $1,398 |
| 2012 | $1,360 |
| 2011 | $1,324 |
| 2010 | $1,341 |
| 2009 | $1,331 |
Average car insurance rates vary depending on the model year and the insurance company. State Farm provides the most affordable full coverage rates for the BMW X3 2009 and 2022 models, at $1,056 and $1,361 per year, respectively.
Data filtered by:Results filtered by:
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Model Year:2022
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Age:40
Select
Coverage:Full Coverage
| State Farm | $1,361 |
| Nationwide | $1,377 |
| GEICO | $1,419 |
| Travelers | $1,638 |
| Progressive | $1,736 |
| Farmers | $2,142 |
| Allstate | $2,241 |
Cost of Insuring a BMW X3 for 16- to 25-Year-Olds
The cost of car insurance for a BMW X3 can vary depending on the driver’s age. On average, insuring a BMW X3 for a 16-year-old driver can cost up to $6,841 per year, while a 40-year-old driver can expect to pay around $1,490 annually.
Insurance rates decrease with age and tend to level off when drivers reach their 20s. Factors such as location, driving record and coverage options can also affect rates for a BMW X3, so always shop around for the best rates.
Adding a teen driver to an existing family plan is often cheaper than purchasing individual teen car insurance. State Farm offers the cheapest insurance for a 16-year-old BMW X3 driver at $4,398 annually, while Farmers is the most expensive at $10,546 per year. Teens and their families should compare rates from multiple providers to find the best value.
Data filtered by:Results filtered by:
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Age:16
Select
Model Year:2022
Select
Coverage:Full Coverage
| State Farm | $4,398 |
| Nationwide | $5,571 |
| GEICO | $6,600 |
| Travelers | $6,855 |
| Allstate | $9,675 |
| Progressive | $9,980 |
| Farmers | $10,546 |
How Does Location Affect the Cost of BMW X3 Insurance?
While the model year and driver’s age affect BMW X3 insurance rates, location can be even more important. The cheapest insurance company for a sample car can vary across states, so always obtain quotes from the cheapest providers in your area.
Data filtered by:Results filtered by:
Select
Age Group:30-59
Select
Coverage:Full Coverage
| 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 |
Frequently Asked Questions About BMW X3 Insurance
MoneyGeek answers commonly asked questions about car insurance for a BMW X3.
What company has the cheapest car insurance for a BMW X3?
The average annual cost to insure a BMW X3 is $1,535, higher than the average cost of car insurance. State Farm offers the cheapest insurance for this model, costing an annual average of $1,206.
What company offers the best car insurance for a BMW X3?
The best car insurance companies for a BMW X3 are State Farm at $1,206 per year and GEICO at $1,265 per year.
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.