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The “8” in this model’s name stands for its top-tier ranking when compared to other BMW series. Its MSRP rings in accordingly, at $112,895, and costs an average of $270.47 to insure each month — or $3,245.64 annually. Still, it’s less expensive than other luxury competitors, like Ferraris or Mercedes, so it may fit the bill if you’re looking for a fast car that doesn’t require millionaire status to maintain.
| Model Year | Progressive | Geico | State Farm | Farmers | Average |
|---|---|---|---|---|---|
| 2019 BMW M850 | $370.62 | 199.23 | $350.15 | $359.78 | $319.95 |
| 2021 BMW 8 | $248.43 | $226.97 | $360.49 | $245.98 | $270.47 |
Our rates are based on a single 30-year-old driver with a clean driving history living in California. California is one of seven states that doesn’t use gender to determine car insurance costs. We chose full coverage car insurance with liability limits that exceed the California state minimum requirements, which include:
Keep in mind some older models may cost less to insure than others depending on which safety features your vehicle has and which insurer you choose. And your actual costs will depend on your driving history, age, ZIP and other specific factors.
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You’ll pay a midrange premium for the BMW 8’s car insurance, compared to other luxury coupes or convertibles. Insurers might consider the 8 a higher risk because its 523-horsepower, turbocharged V-8 engine could lead to more severe damage in an accident. Also, its price tag falls at the upper end of luxury, which means that insurers will pay more to replace the car.
| Models similar to BMW 8 Series | Monthly insurance cost | Car value | Theft rate |
|---|---|---|---|
| BMW 8 Series | $270.47 | $88,995 | Not available |
| BMW Z4 | $215.72 | $50,695 | 0.43 |
| Jaguar F-Type | – | $62,750 | Not available |
| Mercedes-Benz S Class | $375.63 | $110,850 | 2.08 |
| Porsche 911 | – | $100,550 | 0.47 |
We found 2021 car values from Car and Driver’s car model reviews. We also found theft rates from the National Highway Traffic Safety Administration (NHTSA). Theft rates are not available for all models or model years.
BMW refers to its cars as “the ultimate driving machine.” Keep in mind a few factors to get the right protection.
In addition to an award-winning stylistic design, the BMW-8 comes with some advanced safety features that could help you get a safe car discount on your car insurance.
This vehicle combines advanced technology, powerful style and high performance, but its track record is less than flawless.
The BMW 8 can be pricey to insure, but since it’s a mid-range luxury vehicle it shouldn’t be through-the-roof expensive. One way to keep costs reasonable is to shop the market to find the best rates.
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