Insuring a BMW

BMW vehicles stand apart by being high-end, high-performance offerings that don't have the astronomical price tags of vehicles by companies like Rolls-Royce, Bentley and Aston Martin. In other words, these are the kinds of cars that many average folks can afford to buy. Although they are hardly on the economical end of the price scale, they aren't exorbitantly expensive to insure either. The main reason for this is that their somewhat high price tags are mitigated by superior safety features and ratings and reasonably low theft rates. If you're thinking about buying one of these vehicles, you should be aware that the average yearly cost to insure one is $1,966.82, and BMW autos are ranked 30th out of 36 in terms of insurance rates.

How the Company Rose to Prominence

Model Statistics

3 Series
3 Series
What type of Coverage do 3 Series Owners Choose?
Model Legend
$1,067

Average Annual Cost to Insure

5 Series
5 Series
What type of Coverage do 5 Series Owners Choose?
Model Legend
$2,100

Average Annual Cost to Insure

7 Series
7 Series
What type of Coverage do 7 Series Owners Choose?
Model Legend
$600

Average Annual Cost to Insure

X5
X5
What type of Coverage do X5 Owners Choose?
Model Legend
$967

Average Annual Cost to Insure

X3
X3
What type of Coverage do X3 Owners Choose?
Model Legend
$893

Average Annual Cost to Insure

M3
M3
What type of Coverage do M3 Owners Choose?
Model Legend
$850

Average Annual Cost to Insure

1 Series
1 Series
What type of Coverage do 1 Series Owners Choose?
Model Legend
$1,250

Average Annual Cost to Insure

Z4
Z4
What type of Coverage do Z4 Owners Choose?
Model Legend
$767

Average Annual Cost to Insure

6 Series
6 Series
What type of Coverage do 6 Series Owners Choose?
Model Legend
$2,100

Average Annual Cost to Insure

Z3
Z3
What type of Coverage do Z3 Owners Choose?
Sorry, We have no data for this model. Model Legend
N/A

Average Annual Cost to Insure

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The name stands for Bagerishe Motoren Werke AG, which translates to mean Bavarian Motor Works. The company is currently headquartered in Munich, Germany. It was founded in July 1917. It was originally an aircraft manufacturer, and its current logo, which resembles propellers, is inspired by that fact. The first BMW car was produced in 1928. Since then, the company has been responsible for many exciting innovations. Most notably, it led the way in terms of electronics and turbocharged engines.

Great Safety Ratings Keep Premiums Down

These models typically receive high ratings for safety. The majority of today's BMW automobiles have earned four or five stars in government crash tests. Five stars is a perfect score, so those are very good ratings. The Insurance Institute for Highway Safety also generally awards most models with ratings of "good," which is the top mark that it gives. A few "acceptable" ratings are sprinkled in, but the overall safety is better than average. Insurers put a significant amount of weight on a vehicle's safety when calculating policy rates, so this fact helps to keep rates somewhat reasonable.

Customer Statistics

Top 5 Insurance Companies

Coverage Type

  • Geico
    8%
  • Progressive
    7%
  • State Farm
    7%
  • Allstate
    6%
  • AAA
    3%

Male Vs. Female (percent)

Average Age (years)

67 Male
33 Female
38

Credit Score

Education

Important Factors

  • Price
    48%
  • Coverage options
    33%
  • Customer service
    15%
  • You don't care, you just need car insurance
    4%

Reasonable Theft Rates Prevent Exorbitant Insurance Prices

When it comes to theft, these models aren't prime targets. The brand does not appear on the top-ten lists that are published by the National Insurance Crime Bureau or NICB. Furthermore, theft rates for these vehicles that are tallied by the NHTSA are usually below two or three percent. A few exceptions include the 1993 3-Series, which has a theft rate of about 10 percent, and the 2000 X5, which has a theft rate of nine percent. Those who can afford to buy these luxury offerings can usually afford to keep them safe, so premiums aren't dramatically affected by theft rates in this case.

Moderate-to-High MSRPs Play Huge Role in Cost to Insure BMWs

In the scheme of things, these automobiles are expensive. That's not true when stacked up against Rolls-Royces and the like, but it's true when comparing BMWs to many other cars. The 1-Series, for example, has a starting MSRP of $31,200. The M3 coupe, on the other hand, has a starting MSRP of $60,100. The prices span across a fairly large range. More expensive models cost more to protect:

  • 128i 6-Cylinder - $1,435.00
  • 528i 6-Cylinder - $1,666.00
  • M3 8-cylinder - $2,011.00

If you'd like to own one of these fine German offerings but don't want to pay too much to protect it, make sure to buy one that falls on the lower end of the price scale.

Bmws For Sale

Are you looking to purchase a Bmw vehicle and want to know how much it will cost to insure before the big purchase? Start by browsing our comprehensive vehicle inventory.

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