BMW Car Insurance

In addition to its high MSRP, owning a BMW also means paying more for car insurance. BMWs cost an average of $1,788 per year to insure, which is 25% more than the cost of insuring a typical car.

If you’re looking to save money on BMW insurance, there are a few things you can do. First, compare quotes from multiple insurers. You can do this quickly and easily with The Evios Insurance. Second, consider getting a policy with a high deductible. This will lower your monthly premiums, but it will also mean that you’ll have to pay more out-of-pocket if you file a claim.

Third, ask your insurance company about discounts. There are a number of discounts available for BMW owners, including discounts for bundling your home and auto insurance, paying your premium in full, and having a good driving record.

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BMW Insurance Company Comparisons

  • USAA: Typically offers the cheapest BMW car insurance, with an average estimate of $1,344 per year or $112 per month. However, USAA is only available to members of the military and their families.
  • Nationwide: Tends to offer the cheapest car insurance for BMWs among providers available to everyone, with an average estimate of $1,407 per year or $117 per month.
  • Auto-Owners Insurance: $136 per month, or $1,633 per year.
  • Erie Insurance: $149 per month, or $1,788 per year.
  • Geico: $154 per month, or $1,850 per year.
  • National General Insurance: $160 per month, or $1,919 per year.
  • State Farm: $171 per month, or $2,054 per year.
  • Progressive: $186 per month, or $2,228 per year.
  • Farmers: $204 per month, or $2,443 per year.
  • Allstate: $269 per month, or $3,230 per year.

Other Car Insurance Coverage for a BMW

The rate estimates in this article are for full-coverage insurance. This term refers to automotive insurance policies that include collision and comprehensive coverage in addition to the state-mandated minimum liability coverages, such as bodily injury liability and property damage liability coverage. Some states may also require additional insurance like personal injury protection (PIP) and uninsured motorist/underinsured motorist (UM/UIM) coverage.

In addition to the state-mandated minimums and the other coverages mentioned above, most insurers offer a variety of optional coverages that can help cover other costs related to owning and driving your BMW. These are some of the more common optional coverages you’ll find:

  • Rental reimbursement: Covers the cost of a rental car while your vehicle is being repaired or replaced
  • Roadside assistance: Covers emergency roadside services such as tire replacement, fuel delivery, and towing
  • Mechanical breakdown insurance (MBI): Covers mechanical repair costs, similar to a vehicle service contract or extended car warranty
  • Guaranteed asset protection (GAP): Covers the difference between what your vehicle is worth and what you owe on it in the event of a total loss
  • Trip interruption: Covers travel expenses such as food and accommodation if your vehicle becomes inaccessible due to a covered loss away from home.

How can you save money on BMW car insurance?

BMWs are expensive to insure, so many BMW drivers are looking for ways to save money on their car insurance. Here are a few strategies that may help:

  • Bundle your policies. Bundling your home and auto insurance with one carrier can often get you a discount on both policies.
  • Get quotes before you buy the BMW. Comparing quotes from different carriers before you purchase a new car can help you identify which carrier offers the best rates.
  • Look for relevant discounts. Many car insurance companies offer discounts for things like good student status, multiple vehicles, and safety features.
  • Maintain a clean driving record. A clean driving record is one of the best ways to keep your premium as low as possible.

FAQs

What factors affect the insurance rates for a BMW?

The following factors can affect the insurance rates for a BMW:
The model, year, and trim level of the car. BMWs are more expensive to insure than other cars, and the specific model, year, and trim level of the car can affect the insurance rates. For example, a BMW 7 Series will typically have higher insurance rates than a BMW 3 Series.
The driver’s age and driving record. Drivers who are younger and have a history of accidents or traffic violations will typically pay higher insurance rates than older drivers with clean driving records.
The location where the car is parked. Cars that are parked in high-crime areas or that are frequently driven in congested areas will typically have higher insurance rates.

What type of insurance coverage do I need for a BMW?

The type of insurance coverage you need for a BMW depends on your specific needs and circumstances. However, you may want to consider the following coverages:
Comprehensive and collision coverage. This coverage will protect your car in case of damage, such as in a car accident or a fire.
Liability coverage. This coverage will protect you if you cause an accident and injure someone or damage their property.
Uninsured/underinsured motorist coverage. This coverage will protect you if you are injured in an accident caused by a driver who does not have insurance or does not have enough insurance.

Can I get an insurance quote for a BMW on this page?

Yes, you can get an insurance quote for a BMW by clicking on the Start your quote button at the top of the page. Here at Evios Insurance, we will not sell you a policy if you already have the appropriate coverage at the best price.”

Why is it so expensive to insure a BMW?

BMWs are considered luxury vehicles and, as such, have higher insurance rates than other types of cars. The cost of repairs for BMWs is also typically higher than for other vehicles, which can contribute to the high cost of insurance. If you get into an accident or your car is damaged in a covered event, these factors may lead to higher repair costs, which typically leads insurance companies to charge higher rates for these vehicles.

However, there are ways to save money on BMW insurance. You may be able to find discounts for things like good driving records, multiple vehicles, and bundling your home and auto insurance. It’s also important to shop around and compare quotes from multiple companies before you buy a policy.

What is the best car insurance company for a BMW?

The best car insurance company for a BMW is different for every BMW owner. Factors like your location, coverage needs, and budget will all play a role in your decision. Making a list of your insurance priorities and comparing quotes from companies that meet your needs will help you identify the best carrier for you.

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