How much would it cost to insure a BMW 1 Series, and how can I save on my premiums?
If you’re looking for a small car that combines luxury with power, the models in the BMW 1 Series may just be for you. The 1 Series is a range of cars produced by BMW that have graced British roads since 2004, in a variety of smaller hatchback, coupé and convertible models that you’re probably already familiar with.
Originally established to compete with other smaller but undoubtedly familiar cars – in particular the Volkswagen Golf or the models of the Mercedes M-Class – the BMW 1 Series is both compact, elegant, and boasts an effective but luxurious driving experience.
Read on to see how much you’d pay to insure your car, and find out how you can save!
Average insurance rates for the BMW 1 Series
To give you an indication about how much it would cost to insure your BMW 1 Series, we ran several quotes in order to obtain an average figure. Our results estimated that you could, on average, insure your BMW 3 Series with comprehensive cover for monthly payments of £127.27 or an annual sum of £980.
Companies that provide coverage for an BMW 1 Series
Which factors might affect my insurance rate?
Every driver is different, and so every insurance quote will also be slightly different depending on your circumstances. We’ve collected some prominent examples of factors that can vary your rate of insurance, given the research we undertook:
- Engine capacity. You can expect to pay more for models with larger engine capacities. We identified that this can be a significant expenditure: for the BMW 116D, the difference in pricing was an extra £120.91 every year in monthly instalments if you opted for the 2.0L model over the 1.5L. It is rare, however, for price differences to be so major.
- Driver circumstances. The situation of the driver has a knock-on effect when it comes to insuring your vehicle. These variables can include geographical location, age, and marital status. Lower premiums are offered for those drivers the insurance company deems more stable drivers, at less risk of accidents.
- Credit history and no claims. The state of your credit history and your no-claims discount also play a role when it comes to insuring your car. Insurance companies will not look favourably on applicants with a poor credit rating or a track record of driving claims and convictions, and the policy they offer will be significantly higher.
- Vehicle age. How old is the vehicle you’re looking to buy? In the BMW 1 Series, available since 2004, there may be a price difference offered between the oldest and newest models, in line with increased efficiency, safety, and mechanical developments.
How can I save on my premiums?
At finder, we’re here to help. We’ve had a look through the best ways to save you money on your BMW 1 Series car insurance, have a look below:
- Insurance companies look favourably on extra features designed to add greater security or safety. These include trackers, alarms, and other safety modifications beyond the factory standard – the presence of such modifications will likely bring your premiums right down!
- However, be wary when it comes to modifying your car in ways that don’t add to the vehicle’s safety. The presence of racing wheels or spoilers may be associated with those deemed to be higher-risk drivers, and hence your insurance premiums will likely increase.
- If you are financially secure enough to do so, paying your car insurance in a single annual payment works out as cheaper overall than if you pay monthly. Sometimes, this can be significantly so. The average annual sum for the BMW 118 Sport Hatchback, for instance, works out as £547.31 less than the monthly total.
- Try to keep your no-claims discount spotless for as long as possible! As you might expect, premiums are lower the longer your no-claims period.
Facts about the BMW 1 Series
- In the United Kingdom, you can expect prices for a model in the BMW 1 Series to fetch anywhere north of £22,000.
- Compared to other similar makes and models, the 1 Series is the only one to offer rear-wheel drive.
- The BMW 1 Series is an extremely popular series. In 2008, it accounted for nearly 20% of all BMW sales.
How safe is the BMW 1 Series?
When put forward for the Euro NCAP safety analysis, renowned as the gold standard of car testing, the 1 Series was awarded the maximum five stars for safety. Five stars probably puts you at ease, and it should. But what does this rating actually mean for you as a driver, and the passengers you’re inevitably going to take with you?
Don’t just take it from us, or from the crash test experts. There is a consensus that the 1 Series maintains both BMW’s reputation for an excellent ride with impeccable safety credentials. Aside from the standard features you might expect for a car of this type, including multiple airbags and anti-lock brakes, you can also choose to invest in a number of optional add-ons that reinforce safety. These include automatic braking at low speeds, and technology that warns the driver if you begin to drift between lanes.
*Disclaimer: Please take reasonable care to answer all the questions honestly and to the best of your knowledge. If you don’t answer the questions correctly, your policy may be cancelled, or your claim rejected or not fully paid.
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