BMW insurance rates

Average insurance cost for a BMW

The average cost of insuring a BMW across all models is $355 a month, or $4,261 a year. It can be a pricey car to buy and a pricey one to insure. Many factors influence the cost, including your driving history and location.

• How we got this rate

  To determine our estimated cost, we aggregated quotes from insurance companies using this profile:

  • Latest models of 9 different BMW vehicles
  • 20,000 km driven yearly
  • 35-year old female driver living in Ontario
  • No accidents, perfect driving record

  Our estimated price is for basic, mandatory coverage.

  Other factors that can affect your auto insurance rate

  • The BMW’s model year
  • The vehicle’s trim
  • The amount of coverage you need
  • The estimated kilometres you drive in a year
  • The vehicle’s safety and anti-theft features
  • The driver’s credit score
  • The driver’s location
  • The driver’s age
  • The driver’s driving history in the past 5 years
  • The driver’s marital status
  • The driver’s gender
  • Whether the driver rents, leases or owns the vehicle

Compare free car insurance quotes online for your BMW

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Name	Product	Accident Forgiveness	Min. Liability Coverage	Discounts Available	Online Claims	Available Provinces
Surex Auto Insurance		Yes	$1,000,000	Up to 25%		Alberta, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, PEI, Yukon	Submit one application and receive quotes from 10+ insurers. Save up to 25% on your car insurance, plus get access to an insurance advisor. Who it might be good for: Drivers looking to use an insurance broker to compare multiple pricing and coverage options.	Get a quote More Info	Compare	loading Fetching your data...
Onlia Car Insurance		Yes	$1,000,000	Over $500*		Ontario	Get premium auto insurance coverage with Onlia. Save money on your auto insurance through safe driving discounts and bundling insurance options. Who it might be good for: Drivers in Ontario looking to save on insurance costs by driving safely.	Get a quote More Info	Compare	loading Fetching your data...
Aviva Car Insurance		Yes	$1,000,000	Up to 25%		Alberta, Northwest Territories, Nova Scotia, Nunavut, Ontario, Yukon	Aviva car insurance offers customizable policies, discounts and optional insurance coverage add-ons. Get a free quote through Surex. Who it might be good for: Drivers looking to customize their auto policy.	Get a quote More Info	Compare	loading Fetching your data...
Travelers Car Insurance		Yes	$1,000,000	Up to 25%		Alberta, Northwest Territories, Nova Scotia, Nunavut, Ontario, Yukon	Travelers auto insurance offers a selection of coverage options for just about any type of vehicle. Get a free quote through Surex. Who it might be good for: Drivers looking to get car, motorcycle, classic car, motorhome or recreational vehicle coverage.	Get a quote More Info	Compare	loading Fetching your data...

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Why are BMWs so expensive to insure?

Because a BMW is considered a luxury car, the cost of insurance will be higher. But there are other factors that can help to balance that out. Opting to include some of BMW’s available safety features will help to reduce your insurance costs. BMW’s low theft rates also work in your favor.

Obtaining insurance for your BMW won’t be difficult. Most, if not all, of the big-name insurance companies provide coverage for this top-of-the-line automobile.

Pros and cons of insuring a BMW

About the BMW brand

BMW can trace its roots back to 1916, when they began producing airplane engines. This short-lived production was halted at the end of World War I due to the Versailles Armistice Treaty. Once restrictions of the treaty were lifted, the company began to manufacture motorcycles, and soon after, automobiles. BMW briefly returned to airplane engine production during World War II, but after reconstruction continued making the automobiles and motorcycles that they are known for today.

Are there any standout BMW models?

The BMW 8 Series Coupe’s tagline is “perfection redesigned.” It combines advanced technology, high performance and the ultimate in luxury in a sports car-esque coupe. The 8 Series Coupe offers driving dynamics, a beautiful interior and exterior and a twin turbo V8 engine.

Bottom line

Compared to may luxury brands, BMWs are relatively affordable to insure. But be sure to shop around to find the best car insurance for you.

Frequently asked questions about BMW insurance

• What car-related factors affect the cost of insurance?

  Among other factors, a car’s safety record, the cost to repair and maintain the car and the car’s likelihood of being stolen all can affect the cost of car insurance.

• What personal factors affect the cost of insurance?

  A driver’s age, location, driving history and credit history (depending on the province) can all affect the cost of insurance, as well as your age and marital status.

• Is a BMW the same as a Beemer?

  Yes, a Beemer refers to BMW vehicles. However, while it’s common to hear them called Beemers, that phrase should be reserved for its bikes, while Bimmer is the phrase BMW enthusiasts use for BMW cars.

• Can I finance a BMW directly through an authorized dealership?

  Yes, you can finance or lease a BMW directly through an authorized dealership.

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