Cost of BMW Car Insurance (2024)

The average cost of insurance for a BMW is $215 per month, but rates vary depending on the model, your driving history, and more.

Taylor Milam-Samuel
Taylor Milam-Samuel
  • 8+ years writing for major outlets, including MarketWatch and Business Insider

  • Master’s in Education

Taylor Mlam-Samuel is a personal finance writer and credentialed educator. When she’s not helping readers better save and spend money, she can be found teaching.

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Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Updated May 23, 2024

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Drivers using Insurify have found quotes as cheap as $35/mo for liability only and $45/mo for full coverage.

*Quotes generated for Insurify users within the last 10 days. Last updated on May 23, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from May 23, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

*Quotes generated for Insurify users within the last 10 days. Last updated on May 23, 2024

Rates shown are real-time Insurify user quotes from 100+ insurance companies and Quadrant Information Services data. Insurify’s algorithm excludes anomalous quotes and anonymizes personal details, then displays refined quotes by price, date, and insurer popularity up to 10 days ago from May 23, 2024. Actual quotes may vary based on the policy buyer’s unique driver profile.

BMW is the most-shopped luxury car brand and remains a popular pick for drivers who can afford its price tag. Models start at around $40,000 but can cost upwards of $150,000.

Due to the price range, car insurance costs for BMWs are, not surprisingly, higher than many other car brands. The average cost for a full-coverage BMW policy is $257 per month, while liability-only costs $172. Some insurance companies offer rates that are much lower than these averages, though.

Comparing car insurance rates can help you find affordable coverage. Here’s how to find the best coverage for your BMW.

Quick Facts
  • Depending on the BMW model, liability-only coverage costs range from $178 to $252 per month.

  • BMW car insurance is about $700 more per year than the national average for vehicle insurance.

  • If you finance or lease your BMW, your lender or leasing company will require you to carry full coverage on the vehicle.

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Cost of BMW insurance by model

Your BMW model affects the average cost of car insurance, but the price difference isn’t huge. Average monthly quotes for BMW liability insurance range from $178 to $252 — a $74 difference between the highest and lowest costs.

Here are the average BMW insurance costs for liability-only coverage based on car model.

BMW ModelAverage Monthly Quote
3 Series$214
5 Series$218
X5$195
X3$178
X1$193
6 Series$234
7 Series$235
4 Series$252
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest BMW insurance by model

The model of your BMW affects how much you pay for car insurance. The 3 Series, 5 Series, and X5 are the most popular models, according to recent sales.[1] But like your BMW model, your insurer also influences how much coverage costs.

In the sections that follow, you’ll see how different insurers stack up for different BMW models.

BMW 3 Series

The 3 Series is a customer favorite. The manufacturer’s suggested retail price (MSRP) starts at $44,500, which is a mid-level price point for BMW. The insurance costs follow suit, with an average of $214 per month. USAA offers the cheapest rates, around $100 less expensive than the 3 Series average.

Insurance CompanyAverage Monthly Quote
USAA$126
State Farm$139
GEICO$144
Nationwide$159
Allstate$172
Progressive$203
CSAA$210
American Family$219
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW 5 Series

The 5 Series is another top pick and one of the most popular models. Even though the starting price for the 5 Series is over $10,000 higher than the 3 Series, the average insurance costs for the two models are almost the same. The average price of full coverage is $234, but many insurers offer cheaper rates.

Insurance CompanyAverage Monthly Quote
USAA$128
State Farm$141
GEICO$146
Nationwide$162
Allstate$175
Progressive$206
CSAA$213
American Family$222
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW X5

The X5 is the most popular SUV from BMW. Even though the car costs much more than the 3 Series and 5 Series, the average car insurance costs are actually cheaper. These lower insurance costs might be due to the car’s bigger size and enhanced safety features. USAA offers the lowest rates for this model as well.

Insurance CompanyAverage Monthly Quote
USAA$114
State Farm$126
GEICO$131
Nationwide$145
Allstate$157
Progressive$185
CSAA$191
American Family$199
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW X3

As a subcompact SUV, the X3 is a solid family car at a lower price point. The average insurance rates for the X3 are some of the lowest, at $178 per month. Compared to the BMW X1, another subcompact SUV, the X3 is less expensive to insure. You can find the most competitive rates from the insurers below.

Insurance CompanyAverage Monthly Quote
USAA$104
State Farm$115
GEICO$119
Nationwide$132
Allstate$143
Progressive$169
CSAA$174
American Family$182
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW X1

The X1 is another BMW subcompact SUV, and it’s even more affordable than the X3. But the average monthly cost of coverage is $193, which is slightly higher. Despite this, the X1 is still one of the cheapest BMW models to insure. USAA and State Farm offer the most competitive insurance rates.

Insurance CompanyAverage Monthly Quote
USAA$113
State Farm$125
GEICO$129
Nationwide$143
Allstate$155
Progressive$183
CSAA$189
American Family$197
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW 6 Series

The BMW 6 Series is no longer in production, but you can still find used models.[2] BMW released the last model year of the 6 Series nearly five years ago before quietly discontinuing it. The older age of this model might account for the increased insurance costs, which are an average of $234 per month. You can find the best car insurance rates with the following insurers.

Insurance CompanyAverage Monthly Quote
USAA$137
State Farm$151
GEICO$157
Nationwide$174
Allstate$188
Progressive$222
CSAA$229
American Family$239
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW 7 Series

As one of the most expensive BMW models, the 7 Series is also one of the most expensive models to insure. The MSRP starts at $96,400. Here are the insurance companies with the best rates for the 7 Series.

Insurance CompanyAverage Monthly Quote
USAA$138
State Farm$152
GEICO$158
Nationwide$175
Allstate$189
Progressive$223
CSAA$230
American Family$240
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

BMW 4 Series

The 4 Series is known for its sporty trim and handling, which might explain why it’s the most expensive model to insure. The average insurance cost for the 4 Series is $252 per month — nearly $75 more than the cheapest model to insure. USAA provides the most competitive rates, but various companies offer coverage at affordable rates.

Insurance CompanyAverage Monthly Quote
USAA$148
State Farm$163
GEICO$169
Nationwide$188
Allstate$203
Progressive$239
CSAA$247
American Family$258
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Best companies for BMW car insurance

The best companies for BMW car insurance combine top-notch coverage, competitive prices, and high customer satisfaction. As you search for insurance, consider which factors matter most to you. BMW drivers can usually find the best coverage options from State Farm, USAA, and GEICO.

Best for overall customer satisfaction: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.6
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$53/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$115/mo

State Farm has been in business for more than 100 years, and today sells auto and other vehicle insurance, homeowners, life, health, pet, disability, and small business insurance. Available in all 50 states, State Farm car insurance policies offer multiple ways to save, from customizing coverage types, to a robust list of discounts. The company has far fewer complaints than expected for the industry, according to the National Association of Insurance Commissioner’s Consumer Complaints Index. State Farm also ranks among the top 10 companies for customer satisfaction in every region on the J.D. Power Overall Customer Satisfaction Index.

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

Read our State Farm review
Shirley - May 22, 2024
Verified

Excellent

I need a discount because I'm a good driver.

Dana - May 22, 2024
Verified

Not Good

I don't drive much, but they keep raising my rate.

George - May 21, 2024
Verified

Still Looking...

Find a company that's cheaper with better benefits.

Best for drivers older than 25: GEICO

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$118/mo

A highly recognizable name in car insurance, GEICO is a subsidiary of Berkshire Hathaway. The company started out as the Government Employees Insurance Company, serving U.S. government workers and military personnel. In addition to auto insurance, GEICO also sells homeowner, flood insurance, life insurance, business insurance, and identity protection, among other products. A.M. Best gives GEICO its highest rating for financial stability and credit. However, GEICO has nearly twice as many complaints as expected in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Pros
  • Good rates for good drivers, seniors, and young drivers

  • Accident forgiveness available

Cons
  • High rates for drivers with certain violations, like DUIs

  • No rideshare or new car replacement coverage available

Read our GEICO review
Kimberly - May 22, 2024
Verified

Never Again

They are horrible at handling claims and make you feel bad.

Anita - May 22, 2024
Verified

Excellent

Good customer service. Megan Burrell is very helpful and professional.

Charles - May 22, 2024
Verified

Good Insurance

Awesome.

Best for active-duty military members, veterans, and their families: USAA

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.7
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$45/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$99/mo

In business for more than 100 years, USAA exclusively serves members of the military and their immediate families. The company offers multiple types of insurance products, as well as banking, investing, and retirement services. Auto insurance customers have access to a number of discounts, including for bundling, insuring multiple vehicles, living on a military base, and more. A.M. Best gives USAA an A++ rating for financial strength, and the company had the highest or second-highest rating of all insurers in every region in J.D. Power’s Overall Customer Satisfaction Index. Customer reviews are mixed for service and claims processing.

Pros
  • Low premiums

  • SafePilot program rewards good driving with up to 30% discount

Cons
  • Only available to active-duty military, veterans, military spouses, or children of service members or veterans

  • No 24/7 customer phone support

Read our USAA review
Billy - May 22, 2024
Verified

USAA

The price became too expensive.

Stephanie - May 22, 2024
Verified

Customer Service Review

The customer service is always professional and helpful. I am thankful for the great people they employ.

Richard - May 21, 2024
Verified

No

Good company.

BMW car insurance coverages

Even though it’s essential to consider the cost of coverage, you also need to review the insurance policy details, too.

Two types of coverage options are available — liability-only and full coverage. Full coverage is more robust and usually includes collision, comprehensive, and liability. Since BMW cars are generally more expensive to repair and replace, it usually makes sense to opt for full coverage. And if you’re financing your BMW through a loan or lease, your lender will probably require you to carry full coverage.

Here’s a look at some coverage options you may consider for your BMW.[3]

  • illustration card https://a.storyblok.com/f/162273/x/abffe6238f/financial-protection.svg

    Bodily injury liability

    This coverage helps pay for medical care for the other driver and their passengers when you cause an accident. This coverage is part of both full coverage and liability-only options.

  • illustration card https://a.storyblok.com/f/162273/x/db598219e3/damage-from-aircraft.svg

    Property damage liability

    If you cause an accident, this policy helps cover the cost of vehicle repairs for the other driver when they file a claim. This coverage is present in both liability-only and full-coverage insurance packages.

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive

    If your car has damage due to something other than a collision, including theft and vandalism, this coverage helps pay for repairs.

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision

    This coverage helps pay for your vehicle repairs, regardless of fault.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical payments or personal injury protection (PIP)

    This policy helps pay for your medical expenses for injuries stemming from the accident.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured motorist coverage

    If another driver causes an accident and doesn’t have coverage, this policy helps cover the cost of your vehicle repairs and medical expenses.

BMW car insurance FAQs

Choosing an insurance company for your BMW is a big decision. Here are some other auto insurance factors to consider.

  • Who has the cheapest BMW insurance?

    The cheapest BMW insurance depends on the car model. The X3 is the cheapest to insure, with average monthly coverage costs of $178. But USAA offers average insurance rates of $110, significantly lower than the average. Different insurers might offer the most competitive rates for other BMW models.

  • Are BMWs expensive to insure?

    The average cost to insure a BMW is higher than the national average cost of car insurance, which is $160 per month. The average price for insuring a BMW ranges from $178 to $252 for liability coverage. The car type affects how much you pay for car insurance, but other factors, like your age, ZIP code, driving record, marital status, and credit score, can also affect the cost.

  • How much does it cost to insure a BMW 4 Series?

    The average insurance premiums for a BMW 4 Series are $302 per month for full coverage and $203 for liability-only. It’s one of the most expensive models to insure — nearly $100 higher than the average cost of BMW insurance.

  • Why does insurance cost so much for a BMW?

    The average cost to insure a BMW is higher than the national average because BMWs are luxury vehicles. Car insurance companies consider your car’s make, model, and cost when determining your premiums. Your age, location, credit score, and other information also influence the price.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Kelley Blue Book. "BMW Remains Most-Shopped Luxury Brand While Toyota Widens Lead as Most-Shopped Non-Luxury Brand, According to Latest Kelley Blue Book Reports."
  2. Kelley Blue Book. "Used 2019 BMW 6 Series."
  3. Insurance Information Institute. "What is auto insurance?."
Taylor Milam-Samuel
Taylor Milam-Samuel

Taylor Milam-Samuel is a writer and credentialed educator who is fascinated by how people earn, save, and spend their money. When she's not researching financial terms and conditions, she can be found in the classroom teaching.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

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