BMW Insurance [2025]: Compare Quotes | FinanceBuzz

BMW is a luxury car brand that's known for performance. J.D. Power rated BMW vehicles highly for their dependability, and car enthusiasts often praise the cars' handling and luxurious build.

But that luxury and performance will come at a high cost. The cheapest new BMW starts at over $41,000. BMWs also tend to be more expensive to insure than other cars. Based on Insurify data, BMW drivers pay an average of $238 per month for full coverage insurance and $127 per month for liability-only insurance.

Whether you have an X5 to drive around your family or an M4 you only take out on weekends, you should carefully research BMW insurance costs. After evaluating several insurance companies, I found that USAA, GEICO, and State Farm offer some of the lowest rates for BMW coverage. But you should still shop around to find affordable insurance that fits your needs.

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Compare BMW insurance rates

Company name	Best/Excellent for	Average monthly full coverage cost	Average monthly liability-only cost
USAA	Military veterans and service members	$108 to $138	$52 to $66
GEICO	Digital experience	$128 to $163	$60 to $76
State Farm	Customer satisfaction	$129 to $165	$61 to $77
Allstate	New BMW owners	$144 to $183	$67 to $86
Progressive	Add-ons and extra coverage	$167 to $213	$108 to $138
Data sourced from Insurify

USAA

Best for military veterans and service members

Company details

AM Best: A++
J.D. Power claims satisfaction: 726/1,000 (study average 697)
BBB: A+
NAIC complaints: 0.96 (Private Passenger)

If you're an active-duty military service member, veteran, or a family member of a qualifying USAA member, USAA car insurance coverage is tough to beat. The company boasts lower-than-average rates for full coverage and liability-only policies, and military service members can qualify for extra benefits like military on-base discounts.

The company scored highly for claims satisfaction in the J.D. Power 2024 U.S. Auto Claims Satisfaction Study and for customer satisfaction across all regions. It also has perks like a digital claims option, allowing you to submit a claim through the USAA mobile app.

However, not everyone is eligible for USAA membership or coverage; you must be an eligible military service member, veteran, family member, or federal agency employee. The company also offers fewer discounts than many competitors and doesn't offer telematics in some states.

Pros

High J.D. Power ratings for claims and customer satisfaction
Lowest average premiums for BMWs out of the picks
Extra benefits for military members

Cons

Limited eligibility for membership and coverage
Fewer discounts than some insurance companies

Learn more in our USAA review.

GEICO

Best for digital experience

Company details

AM Best: A++
J.D. Power claims satisfaction: 692/1,000 (study average 697)
BBB: A+
NAIC complaints: 0.75 (Private Passenger)

For those who prefer to get quotes, adjust coverage options, and purchase car insurance entirely online, GEICO is a good option. GEICO tends to have the lowest rates after USAA, and it has extra coverage options like mechanical breakdown protection, which can come in handy for BMW owners. Plus, you can participate in the DriveEasy telematics program — which bases premiums on your driving habits — in some states.

However, GEICO doesn't sell guaranteed asset protection (GAP) coverage, which may be a deal-breaker for those with financed or leased vehicles. J.D. Power also ranked the insurer slightly below average for claims satisfaction, and it scored below average for customer satisfaction in several regions.

Plus, you should know that GEICO has a limited agent network, so you may struggle to find a local agent.

Pros

Offers mechanical breakdown protection
Cheaper-than-average rates for BMW coverage
Digital shopping experience

Cons

Below-average J.D. Power ratings for claims and customer satisfaction
Smaller agent network than some competitors
No GAP insurance

Learn more in our GEICO review.

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State Farm

Best for customer satisfaction

Company details

AM Best: A++
J.D. Power claims satisfaction: 710/1,000 (study average 697)
BBB: F
NAIC complaints: 0.84 (Private Passenger)

If you want a company to count on in an emergency, State Farm may be the right choice. In J.D. Power's studies, the insurer scored above average for claims satisfaction and customer satisfaction across most regions.

It also has a large network of agents, so you can get personalized, in-person help. Plus, it sells classic and antique car insurance, which is useful when you need coverage for your vintage BMW 501 or M1.

However, State Farm doesn't issue policies to residents of Rhode Island or Massachusetts, and its telematics program isn't available in certain states. It also doesn't offer GAP insurance.

Pros

Excellent J.D. Power claims and customer satisfaction ratings
Below-average rates for BMW coverage
Offers classic and vintage car coverage
Large agent network

Cons

Coverage isn't available in all states
No GAP insurance
Poor BBB rating

Learn more in our State Farm review.

Allstate

Best for new BMW owners

Company details

AM Best: A+
J.D. Power claims satisfaction: 691/1,000 (study average 697)
BBB: A+
NAIC complaints: 1.02 (Private Passenger)

If you have a new BMW, Allstate could be an excellent option. It offers GAP insurance, which helps cover the difference between the car's value and your lease or loan balance if it's totaled or stolen. It also sells new car replacement insurance; if your covered car is totaled, Allstate will pay to replace your vehicle with a new model.

However, Allstate received a below-average claims satisfaction rating in J.D. Power's study and ranked below average for customer satisfaction in certain regions. Its telematics program also isn't available everywhere.

Pros

Sells GAP and new car replacement insurance
Cheaper-than-average rates for BMW coverage
Diverse discounts for additional savings
Available in all 50 states

Cons

Below-average J.D. Power claims satisfaction rating
Offers policies only in six-month terms

Learn more in our Allstate review.

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Progressive

Best for add-ons and extra coverage

Company details

AM Best: A+
J.D. Power claims satisfaction: 672/1,000 (study average of 697)
BBB: A+
NAIC complaints: 0.97 (Private Passenger)

If you own a BMW, Progressive's optional coverages and add-ons can be useful. Besides common products like collision and comprehensive insurance, Progressive sells options like:

Loan or lease payoff: Similar to GAP insurance, this add-on covers the difference between what you owe on your car loan or lease and its current value (up to 25% of its actual cash value).
Vehicle protection: Available in some areas for new cars with extensive coverage, this non-accident option covers your car's major systems, small dings and dents, and keys.
Custom parts and equipment value coverage: If you add a custom sound system, change your car's rims, or get a special paint job, this coverage helps pay for those items to be repaired or replaced after a covered incident (for up to $5,000).

However, Progressive ranked near the bottom for claims satisfaction in J.D. Power's study, and it scored below average for customer satisfaction across all regions. Policy pricing may also vary based on your purchase method, and the insurer's telematics program isn't available everywhere.

Pros

Multiple optional add-ons for new cars
Relatively affordable rates for BMWs
Coverage for custom parts
Available in all 50 states

Cons

Pricing may vary based on purchase method
Low J.D. Power claims and customer satisfaction ratings

Learn more in our Progressive review.

Importance of GAP insurance for BMW owners

BMWs are luxury cars with high price tags. The cheapest model, the X1 SUV, has a manufacturer-suggested retail price (MSRP) of $41,350 for the base model. But prices can be much higher depending on the model and the options you choose. For example, the XM SUV starts at $160,500.

With such high prices, it's no wonder few buy new cars with cash. According to Experian, nearly 81% of buyers bought their new cars with auto loans in the first quarter of 2025, compared to 37% for those buying used cars.

If you purchase or lease a new BMW, you may benefit from purchasing GAP insurance. This form of coverage helps pay for the difference between your BMW's current value and your remaining loan or lease balance if your vehicle is totaled in an accident or stolen.

You can usually purchase GAP coverage at the time you purchase your vehicle through the dealership, but some insurance companies also sell GAP insurance. Contact your insurance agent to find out if this coverage is available.

How to find affordable insurance for your BMW

Your car insurance premiums depend on several factors, including your age, gender, driving history, and (in some states) your credit. Your vehicle's make and model also play a major role.

BMWs can be expensive to insure due to their high prices, but there are several ways to lower your car insurance premiums.

Enroll in telematics programs: If you drive cautiously or cover fewer miles than most drivers, enrolling in a pay-per-mile or telematics program may be helpful. These programs base your premiums on your vehicle usage and driving habits, so you might save money.
Change your deductible: Raising your deductible — for example, increasing it from $500 to $1,000 — can reduce your monthly or annual premiums. However, don't do it unless you can cover the higher potential out-of-pocket cost for a claim.
Ask about discounts: As you get quotes from insurers, consider potential discounts you may qualify for to get extra savings. Examples include low-mileage discounts, accident-free discounts, multi-vehicle discounts, and good-student discounts.
Wisely choose your coverage: Depending on the situation, you might not need full coverage or very high coverage limits. Consider your state laws, lessor or lender requirements, and financial situation to decide what coverage is necessary.
Bundle coverage: If you have multiple types of insurance, such as homeowners insurance or life insurance, buying car insurance through the same provider can help you save money through bundle or multi-policy discounts.

FAQs

Is BMW insurance expensive?

BMW vehicles tend to be more expensive to insure than other cars. The average cost of full coverage insurance for a BMW is $2,856 per year, about 22% higher than the national average for all vehicles. But you can shop around and seek discounts to save money on car insurance.

Which BMW has the lowest insurance cost?

The BMW X3 tends to have the lowest insurance cost. Full coverage policies average $212 per month, while liability-only coverage averages $113 per month.

What is the most expensive BMW to insure?

The BMW 2 Series tends to have the highest rates. On average, drivers pay $270 per month for full coverage insurance and $144 for liability-only coverage — significantly more than the national average for all vehicles.

Does it cost a lot to repair a BMW?

In general, BMW vehicles are more expensive to maintain and repair than many other cars. According to Kelley Blue Book, BMW was the fifth-most expensive car brand based on 10-year maintenance costs ($9,500). Only Land Rover, Porsche, Mercedes-Benz, and Audi models were more expensive.

Does BMW have its own insurance?

While you can't purchase liability, collision, or comprehensive insurance through BMW, BMW Financial Services does have other coverage available. You can choose a vehicle service contract, lease-end protection, GAP insurance, or protection for your windshield and tires.

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Bottom line

Whether you're a longtime BMW devotee or thinking about splurging and purchasing your first "Ultimate Driving Machine," you should be aware that BMW vehicles tend to be more expensive to insure than many other cars. Thanks to their higher price tags and repair costs, you'll pay more for both full coverage and liability-only policies.

However, you can save money by shopping around and taking advantage of available discount programs. Request quotes from some of the companies on our list of the best car insurance providers to find the right coverage for your new or used BMW.

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