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Owning an electric car is not much different than owning a regular car, though there are some important factors that play a part in determining your insurance rates:
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We expect the i4’s insurance to cost $200-$300 monthly because most BMWs keep lower insurance rates than their rival models. In this case, the rival Teslas trend toward the upper end of this range.
Models similar to BMW i4 | Monthly insurance cost | Car value | Safety rating by NHTSA |
---|---|---|---|
2022 BMW i4 | Not available | $56,395 | Not available |
Tesla Model 3 | $243.37 | $38,690 | 5-star |
Tesla Model S | $306.22 | $81,190 | Not rated |
Porsche Taycan | – | $81,250 | Not available |
We used Car and Driver’s car model reviews to find 2021 car values. We could not list the BMW i4’s value since 2022 is the first model year offered.
Some insurance companies offer a discount specifically for electric vehicles, in addition to the following vehicle discounts:
Anticipate safety ratings for this new model by looking at BMW’s other safety ratings.
The BMW i4 is a luxury electric sports sedan, which mean higher insurance rates. But with the savings in fuel from switching to an electric car, you might be able to offset the high insurance costs and come out on top. You can also look for an insurance company that gives extra discounts for safety features and having an electric car.
Be sure to compare different insurance companies and maximize your discounts for your BMW i4.
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