Cost of BMW Car Insurance (2024)

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.

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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.

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.

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.

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.

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.

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.

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.

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.

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.

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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

Customer Satisfaction

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User Reviews	4.2 4,970 reviews
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.	9.3 /10
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.	$119/mo

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Driver Reviews

4.2

Best choiceBased on 9040 verified guest reviews and ratings

How drivers feel about State Farm

Drivers appreciate the helpful local agents and initial service but dislike the high prices and frequent rate increases.

AI-generated from the text of verified reviews collected by Insurify

Best For

Customer service

Competitive rates

Discounts for safe drivers

How drivers feel about State Farm

Drivers appreciate the helpful local agents and initial service but dislike the high prices and frequent rate increases.

AI-generated from the text of verified reviews collected by Insurify

Best For

Customer service

Competitive rates

Discounts for safe drivers

Reviews (4,970)

Charles

November 19, 2024

Verified Review

New Car Price

State Farm is preferred due to its loyalty and pricing. Despite my vehicle being 20 years old, the policy is priced as if it were 2 years old.

Ronald

November 19, 2024

Verified Review

State Farm Experience: 35 Years+

They are forcing me to replace my house roof or they will cancel my policy.

David

November 19, 2024

Verified Review

Too expensive

It's too expensive. They raise rates every six months, even though I've never filed a claim.

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JD Power

J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.

842

NAIC Index

Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.

0.78

A.M. Best

A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).

A++

Why we picked this company

State Farm is the largest U.S. auto insurer by market share and has operated for more than 100 years. Available in all 50 states, State Farm stands out for its customer service, extensive discounts, and optional coverages. The insurer ranked fifth for overall customer satisfaction in the 2023 J.D. Power U.S. Auto Claims Satisfaction Study. Safe drivers can enjoy many State Farm discounts, including ones for young motorists who complete an approved driver training course, for having a vehicle with certain safety equipment, and for going three years or longer without violations or at-fault accidents.

Pros

• High rates of customer satisfaction

• Rideshare insurance available

• Savings for bundling auto with home, renters, condo, or life insurance

Cons

• No gap insurance offering

• May not be the cheapest choice for drivers with violations

• Accident forgiveness limited to longtime customers with clean driving records

Best for drivers older than 25: GEICO

Drivers Older than 25

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User Reviews	4.0 5,648 reviews
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.	9.0 /10
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.	$119/mo

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Driver Reviews

4.0

Best choiceBased on 10275 verified guest reviews and ratings

How drivers feel about GEICO

Drivers appreciate the excellent customer service and initial low prices but dislike the frequent price increases.

AI-generated from the text of verified reviews collected by Insurify

Best For

Teen drivers

Cheap rates

Accident forgiveness

How drivers feel about GEICO

Drivers appreciate the excellent customer service and initial low prices but dislike the frequent price increases.

AI-generated from the text of verified reviews collected by Insurify

Best For

Teen drivers

Cheap rates

Accident forgiveness

Reviews (5,648)

George

November 19, 2024

Verified Review

Service

The prices increase every year. I would not recommend purchasing.

James

November 19, 2024

Verified Review

Unsatisfactory Experience with Geico

Steer clear. They increase your rate at every renewal.

Edward

November 18, 2024

Verified Review

Experience with Geico

Reliable.

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JD Power

J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.

835

NAIC Index

Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.

0.74

A.M. Best

A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).

A++

Why we picked this company

GEICO, a subsidiary of the Berkshire Hathaway Group, is the third-largest U.S. insurer by market share. In addition to auto insurance, GEICO sells homeowners, renters, flood, travel, life, and business insurance, among other products. The insurer offers numerous car insurance discounts to help drivers save. For example, drivers who are accident-free for five years could earn 22% off premiums, and good students could earn 15% off. GEICO’s National Association of Insurance Commissioners complaint index score is below average, meaning it receives fewer consumer complaints than average.

Pros

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

• Accident forgiveness available

• A+ (Superior) financial strength rating from AM Best

Cons

• High rates for drivers with certain violations, like DUIs

• No rideshare or new car replacement coverage available

• Lower customer satisfaction scores from J.D. Power

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

Military Members, Veterans, and Their Families

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User Reviews	4.9 914 reviews
IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.	9.4 /10
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

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Driver Reviews

4.9

Best choiceBased on 1602 verified guest reviews and ratings

How drivers feel about USAA

Drivers appreciate the ease of working with the carrier, competitive rates, and responsive service but dislike the price increases and lack of rideshare add-ons in some areas.

AI-generated from the text of verified reviews collected by Insurify

Best For

Members of the military community

Outstanding customer service

Competitive rates

How drivers feel about USAA

Drivers appreciate the ease of working with the carrier, competitive rates, and responsive service but dislike the price increases and lack of rideshare add-ons in some areas.

AI-generated from the text of verified reviews collected by Insurify

Best For

Members of the military community

Outstanding customer service

Competitive rates

Reviews (914)

Gloria

November 15, 2024

Verified Review

Not Good for Claims

I have storm damage and the claim process is not satisfactory.

Martin

November 11, 2024

Verified Review

Price Shopping

I have been with USAA for over 60 years. Obviously, I've been very happy. Since I don't drive very far, I have been seeing advertisements for lower prices. However, I have no plans of leaving USAA.

Rena Sabine

November 8, 2024

Verified Review

Disappointing and inflexible service

My experience with this company has been disappointing, especially this second time around. I would suggest considering other options. From my recent interactions, they have been dismissive and argumentative. I have already started finalizing my next premium with another company. I'm perplexed as to how they receive praise when they treat clients in this manner.

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Our Advice

JD Power

J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.

880

NAIC Index

Average amount of customer complaints relative to competitors on a 0-5 scale. A lower score represents fewer complaints.

1.35

A.M. Best

A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).

A++

Why we picked this company

USAA exclusively serves current and former members of the military and their immediate families and is still the seventh-largest insurance company in the U.S. by market share. USAA offers banking, investing, and retirement services in addition to numerous insurance products, including auto, homeowners, renters, and more. Auto policyholders can qualify for discounts for bundling, insuring multiple vehicles, and living on a military base. AM Best gives USAA an A++ (Superior) financial strength rating, and the insurer ranked best in most regions in J.D. Power’s Overall Customer Satisfaction Index.

Pros

• High customer satisfaction

• 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

• Customer reviews are mixed for service and claims processing

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]

• 

  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.

• 

  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.

• 

  Comprehensive

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

• 

  Collision

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

• 

  Medical payments or personal injury protection (PIP)

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

• 

  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