How Much Is BMW Insurance?
The average price to insure a BMW car is $244 per month for a full-coverage policy.
However, your insurance rates vary based on the model and insurer. For example, a BMW X1 SUV is $185 per month cheaper to insure than a 7 Series sedan.
Farm Bureau offers the cheapest insurance for BMWs at $121 per month for full coverage. Meanwhile, Allstate is the most expensive at $403 — more than three times as expensive.
Compare BMW insurance costs by model and insurance company:
BMW insurance cost by model
The BMW X1, a compact SUV, is the cheapest BMW vehicle to insure — a full-coverage policy costs $192 per month, on average. On the other hand, the 7 Series sedan is the most expensive BMW to insure, at $350 per month.
Your insurance rates are based on a number of factors beyond the make and model of your car, including your driving history, your age, where you live and the coverage limits you choose. You should always compare quotes from multiple insurance companies to find the best policy for you.
BMW insurance rates by company
Farm Bureau offers the best insurance rates for BMW cars. Its average price of $121 per month for a 30-year-old driver is 54% cheaper than the average across all insurers. It's also the least expensive option for a younger driver, at $192 per month.
For drivers living in states where Farm Bureau isn't available, State Farm is a top option. Its average price of $186 per month is 24% less than average — though still $65 more each month than Farm Bureau.
The most expensive insurer for BMWs is Allstate. The company charges $403 per month for the same policy.
The best car insurance companies provide dependable service in addition to affordable rates, so always check with multiple insurers to find the right option for you.
Full coverage BMW quotes by company
Company | Monthly cost | |
|---|---|---|
| Texas Farm Bureau | $121 |
| State Farm | $186 |
| Geico | $198 |
| USAA | $209 |
| Nationwide | $225 |
Quotes are based on a full-coverage policy for a 30-year-old man with a clean driving record who lives in Texas. Averages include only current models of BMW and exclude M variants.
BMW 2 Series insurance cost
The average cost to insure a BMW 2 Series coupe is $225 per month. While the 2 Series is the least expensive BMW to buy, it's not the cheapest to insure. The X1 SUV is about $34 less per month.
Younger drivers should expect to pay $632 per month to insure a 2 Series, or about three times as much as a typical older driver.
Monthly BMW 2 Series auto insurance rates
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $240 | $668 |
| 2022 | $234 | $655 |
| 2021 | $224 | $626 |
| 2020 | $216 | $605 |
| 2019 | $213 | $603 |
| Average | $225 | $632 |
Quotes are based on the 230i trim.
Drivers looking to insure the more powerful M2 version of the 2 Series coupe or sedan will pay about 14% more, at $257 per month for full coverage. The cheapest options for 2 Series car insurance are Farm Bureau, at $118 per month, and State Farm, at $169 per month.
BMW 3 Series insurance cost
A BMW 3 Series sedan costs $236 per month to insure, on average. That's about average among all BMW cars, even though the 3 Series is one of the cheaper BMW models to buy. And 18-year-olds will pay about $655 per month for full coverage on a recent 3 Series.
Drivers will also pay more if they opt for the faster M3 variant. Drivers of all ages will pay about 23% more for the more premium model.
Monthly BMW 3 Series auto insurance prices
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $249 | $682 |
| 2022 | $242 | $668 |
| 2021 | $235 | $653 |
| 2020 | $233 | $651 |
| 2019 | $221 | $620 |
| Average | $236 | $655 |
Quotes are based on the 330i trim level.
But drivers can save significantly by going with Farm Bureau for coverage, with a typical price of just $116 for a 30-year-old. Drivers can also bring prices down by going with an older model. A 2019 330i is 11% cheaper to insure than the 2023 model.
BMW 4 Series insurance cost
A BMW 4 Series coupe costs $256 per month for full coverage, on average. Meanwhile, an 18-year-old will pay $704 per month — about three times as much.
Texas Farm Bureau is the cheapest option to insure a 4 Series, where the average price is $126 per month. State Farm is a distant second, at $204 per month for the same coverage.
Monthly BMW 4 Series auto insurance rates
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $273 | $742 |
| 2022 | $265 | $724 |
| 2021 | $258 | $710 |
| 2020 | $246 | $681 |
| 2019 | $239 | $666 |
| Average | $256 | $704 |
Quotes are based on the 430i trim level.
Insurance for a 4 Series costs about $31 more per month than BMW's smaller coupe, the 2 Series. That's in addition to the $10,000 difference in sticker price between the two vehicles.
The BMW M4 performance variant of the 4 Series costs $376 per month to insure — 47% more than the base model.
BMW 5 Series insurance cost
The 5 Series is BMW's most popular sedan, but it's also one of the most expensive BMWs to insure — it costs $268 per month for a full-coverage policy. Younger drivers will pay even more, with a typical cost of $743 per month for an 18-year-old.
The cheapest insurer for the BMW 5 Series is Texas Farm Bureau. There, you'll pay just $129 per month. That's 52% cheaper than the average price.
Monthly BMW 5 Series auto insurance price
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $285 | $779 |
| 2022 | $277 | $763 |
| 2021 | $268 | $743 |
| 2020 | $259 | $724 |
| 2019 | $251 | $707 |
| Average | $268 | $743 |
Quotes are based on the 530i trim level.
The more powerful version of the 5 Series, the BMW M5, costs $439 per month for coverage. That makes it the most expensive current BMW (including M variants) to insure. But Farm Bureau offers much cheaper rates, charging just $135 per month for full coverage.
BMW 7 Series insurance cost
A BMW 7 Series sedan costs an average of $350 per month to insure. The 7 Series is BMW's largest and most expensive sedan, so it's no surprise it's among the priciest to insure — it's the most expensive current BMW to insure, except for the high-performance M series.
Drivers can save by opting for Farm Bureau, the cheapest insurer for the 7 Series. Its average price is $136 per month, or 77% lower than the average we found.
Monthly BMW 7 Series auto insurance rates
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $373 | $988 |
| 2022 | $362 | $966 |
| 2021 | $350 | $942 |
| 2020 | $338 | $912 |
| 2019 | $325 | $884 |
| Average | $350 | $938 |
Quotes are based on the 740i trim level.
Drivers can also save on insurance by opting for an older model. The 2019 BMW 7 Series costs $47 less per month to insure than a brand-new model.
BMW i4 insurance cost
The BMW i4 EV has an average insurance cost of $219 per month. That makes it the cheapest BMW sedan to insure — despite the fact that the i4 costs about $20,000 more to buy than a 2 Series Gran Coupe.
Younger drivers will pay about $684 per month for full coverage for an i4 — nearly three times more. Older drivers will find the best prices for i4 insurance at Geico, where the typical price is $116 per month. Teens will get the cheapest prices at Farm Bureau, where the average is $197 for full coverage.
Monthly BMW i4 auto insurance prices
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $214 | $682 |
| 2022 | $223 | $686 |
| Average | $219 | $684 |
Quotes are based on the i4 eDrive35 Gran Coupe trim level.
The i4 is the only current BMW where drivers will actually save money on coverage by going with a newer model. The 2023 model is $9 cheaper per month to insure than the 2022.
BMW i8 insurance cost
The BMW i8 hybrid is no longer manufactured, but the most recent models cost $464 per month to insure, on average. That makes it the most expensive BMW to insure overall — even more than M Series models.
And younger drivers will pay far more: $1,189 per month, on average. Progressive offers especially high rates, charging $2,868 per month for full coverage.
Farm Bureau is the cheapest option for drivers of all ages: older drivers can get coverage for about $132 per month (72% less than average), and teens should expect to pay approximately $207 per month (83% less).
Monthly BMW i8 auto insurance price
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2020 | $454 | $1,134 |
| 2019 | $475 | $1,245 |
| Average | $464 | $1,189 |
Quotes are based on the i8 trim level.
BMW X1 insurance cost
The BMW X1 SUV costs $192 per month to insure, on average. That makes the small SUV the most affordable vehicle in BMW's lineup to insure. It's also among the cheapest BMWs to buy, with a starting price that's under $40,000. Only the 2 Series is more affordable.
Younger drivers can expect to pay about $523 per month for the same coverage. It's also the cheapest BMW to insure for a young driver.
To bring your BMW X1 insurance rates down even further, get a quote from Texas Farm Bureau. It is the cheapest insurer we found, with an average price of $105 for a typical adult and $170 for an 18-year-old.
Monthly BMW X1 auto insurance rates
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $212 | $575 |
| 2022 | $194 | $522 |
| 2021 | $189 | $510 |
| 2020 | $184 | $509 |
| 2019 | $179 | $500 |
| Average | $192 | $523 |
Quotes are based on the X1 sDrive28i trim level.
BMW X3 insurance cost
The BMW X3 SUV costs about $198 per month to insure for a typical driver — which is 19% less than an average BMW. It's one of the most affordable BMW models to buy and to insure. It's unsurprisingly one of the most popular options in BMW's lineup.
On average, a younger driver can expect to pay about $536 per month for full coverage on an X3. That's a little less than triple the cost to insure it for an adult driver.
Drivers of all ages will find the best prices at Texas Farm Bureau, where rates are about 43% cheaper for adults (and 66% cheaper for teens).
Monthly BMW X3 auto insurance prices
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $209 | $556 |
| 2022 | $202 | $543 |
| 2021 | $196 | $531 |
| 2020 | $194 | $530 |
| 2019 | $190 | $522 |
| Average | $198 | $536 |
Quotes are based on the X3 sDrive30i trim level.
BMW X4 insurance cost
The average cost to insure an X4 SUV is $233 per month for full coverage. That makes it 5% cheaper for insurance than a typical BMW.
The cheapest company to insure an X4 is Texas Farm Bureau, with an average of $125 per month. That's less than one-third of the price of coverage at Allstate, the most expensive option — there, you'll pay about $233 each month.
Monthly BMW X4 auto insurance price
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $244 | $650 |
| 2022 | $238 | $637 |
| 2021 | $230 | $623 |
| 2020 | $230 | $627 |
| 2019 | $223 | $613 |
| Average | $233 | $630 |
Quotes are based on the X4 xDrive30i trim level.
Rates for the X4 are substantially higher for young drivers. An 18-year-old will pay about $630 per month for full coverage on the compact SUV.
BMW X5 insurance cost
The average cost to insure a BMW X5 is $238 per month for a typical adult, or $636 for an 18-year-old.
Farm Bureau is the most affordable option to insure an X5 SUV. There, the average price is just $123 per month for an older adult. That's about half the price of a typical insurer.
Monthly BMW X5 auto insurance rates
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $245 | $645 |
| 2022 | $238 | $631 |
| 2021 | $232 | $618 |
| 2020 | $232 | $630 |
| 2019 | $241 | $654 |
| Average | $238 | $636 |
Quotes are based on the X5 sDrive40i trim level.
BMW X6 insurance cost
A BMW X6 SUV costs $250 per month to insure, on average. While the premium SUV is one of the most expensive BMW vehicles available, it's only about 2% more expensive to insure than average.
The average price for a younger driver is $692 per month for full coverage. That's a 177% increase compared to an older driver.
Monthly BMW X6 auto insurance price
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $260 | $712 |
| 2022 | $254 | $700 |
| 2021 | $244 | $681 |
| 2020 | $243 | $680 |
| 2019 | $248 | $689 |
| Average | $250 | $692 |
Quotes are based on the X6 xDrive35i trim level.
While an older X6 is slightly cheaper to insure than a newer model, it's not a significant drop — only about 5% over the last five model years.
BMW X7 insurance cost
You can expect to pay about $268 per month to insure an X7. As the largest and most expensive main-line BMW SUV, the X7 has an above-average insurance cost — it costs more to insure than the X1, X3, X5 or X6.
However, you can keep your insurance costs down by going with Farm Bureau, where the average price is $122 per month — 55% below average.
Younger drivers can also save at Farm Bureau, with an average rate of $196 for an 18-year-old. That's 72% below the typical price of $711.
Monthly BMW X7 auto insurance rates
X7
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $283 | $740 |
| 2022 | $274 | $722 |
| 2021 | $263 | $699 |
| 2020 | $264 | $705 |
| 2019 | $256 | $690 |
| Average | $268 | $711 |
Quotes are based on the X7 xDrive40i trim level.
BMW Z4 insurance cost
The BMW Z4 convertible costs an average of $231 per month for full-coverage insurance. That makes it about 6% less expensive than an average BMW vehicle.
Insurance for convertibles is sometimes more expensive because they are smaller and more expensive to repair than other cars, but that isn't the case for the Z4. But it's also among the more affordable BMW models overall, with a purchase price of just over $50,000.
Farm Bureau is the cheapest insurer for Z4 roadsters. Its average rate of $121 per month is around half the average price across all companies.
Monthly BMW Z4 auto insurance price
Year | 30-year-old | 18-year-old |
|---|---|---|
| 2023 | $250 | $690 |
| 2022 | $242 | $672 |
| 2021 | $218 | $583 |
| 2020 | $237 | $659 |
| 2019 | $206 | $567 |
| Average | $231 | $634 |
Quotes are based on the Z4 sDrive30i trim level.
Methodology
To calculate the average cost of insurance for a BMW, ValuePenguin gathered hundreds of thousands of quotes for two drivers living in Texas: a 30-year-old man and an 18-year-old man with clean driving records and average credit scores. Rates are based on a full-coverage policy with the following limits:
Coverage | Limits |
|---|---|
| Bodily injury liability | $50,000 per person; $100,000 per accident |
| Property damage liability | $25,000 per accident |
| Uninsured or underinsured motorist bodily injury | $50,000 per person; $100,000 per accident |
| Comprehensive and collision | $500 deductible |
This analysis used insurance quote data from Quadrant Information Services. The quotes referenced were publicly sourced from insurer filings and should only be used for comparison purposes. Actual rates for your BMW may differ. Average insurance prices for all vehicles include all model years available since 2019. Only models that are currently available for purchase were included in overall average rates.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
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