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.
2019 BMW M850
2021 BMW 8
How we got these rates
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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Compare the BMW 8’s insurance factors to similar cars
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
BMW 8 Series
Mercedes-Benz S Class
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.
How do I compare insurance for the BMW 8?
BMW refers to its cars as “the ultimate driving machine.” Keep in mind a few factors to get the right protection.
Body type. It’s a coupe, which tends to be less expensive than a sedan to insure. However, getting coverage on the convertible version will likely be even pricier, since they’re typically more prone to theft.
Fuel. The BMW 8 is rated at 18 city MPG and 25 highway MPG, averaging out to 20 combined MPG, which is about average for these types of coupes.
Maintenance. It’s got German engineering, which means repairs likely won’t be easy or cheap. But all MY17 BMWs and newer models come with the BMW Ultimate Care program, which covers scheduled maintenance for the first three years or 36,000 miles, whichever comes first.
Coverage. You may need to look into luxury insurance for your BMW 8, since it’s more expensive than the average car and typical maximums might not be enough to cover its value.
Warranty. The initial factory warranty covers most repairs, including the powertrain, corrosion, and limited wear and tear, and lasts four years or 50,000 miles. You’ll also get 24/7 roadside assistance for free during the first four years, so you can get away without additional coverage for that.
Transmission type. It’s automatic, which can be slightly more expensive to insure than manual due to a pricier gear box.
Does the BMW 8 qualify for discounts?
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.
Front, side and overhead impact airbags
Antitheft security system
Daytime running lights
Adaptive brake lights
How reliable is the BMW 8?
This vehicle combines advanced technology, powerful style and high performance, but its track record is less than flawless.
Safety. It hasn’t been rated by the IIHS, probably because its price tag makes it relatively costly to test crash. But similar models, such as the BMW 2 coupe, have a “good” crashworthiness rating with “advanced” crash avoidance and mitigation.
Reliability. Online, it hasn’t received any major complaints. But in general, cars with German engineering are known for being pesky to maintain due to their bespoke design. So regular maintenance will be key to keeping your BMW 8 running smoothly.
Recalls. There’s one recall for the 2019 model, and that’s due to an electrical glitch that can cause an electrical shock or a fire. BMW contacts owners of affected vehicles, repairing and replacing the issue for free.
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.
Amy Stoltenberg manages newsletters at Finder, gathering the best articles each week to help subscribers save money and stretch their hard-earned dollars. She also handles the Twitter account, dabbling in Instagram and Facebook too. When she's not on the computer, you can find her exploring Los Angeles with a good book in tow. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report.
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