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On an average, it costs around $1,825 per year to insure BMW 3 series cars. This is significantly more than the national average for other luxury sedans which is about $ 38. Besides, the average BMW 3 series full car coverage cost is worked out for a 40 year old driver who has a good driving record and credit history as well as drives less than 13,000 miles annually. This is for a single car insurance policy for a brand new BMW 3 series vehicle. Depending on your age, you can estimate how much it may be the insurance cost.
From the above it is evident that the average cost for BMW 3 series insurance 16 year old drivers will be the highest. In addition, it may also vary depending on the state in which you live, the insurer that you are working with and the exact number of miles that you are going to drive during the entire year. And your credit score as well as the status of your driving record can also affect affordability of BMW auto insurance rates. But you need to make sure that the coverage levels are adequate to protect your finances against eventualities.
Shopping and comparing insurance rates for BMW 3 series cars may appear highly frustrating but if you intend to save money, there is no other way out. Besides, in all 50 states, drivers are required to carry valid insurance coverage for driving vehicles legally on road. Failure to comply with this basic legal requirement can attract huge penalties if a driver gets caught by a traffic inspector. However, there could be few methods for saving money on BMW auto insurance premiums which you need to know. Here is some vital information pertaining to the same that you may find useful.
Your age, gender, residential location, driving record, credit history and such other parameters can influence the overall cost of BMW 3 series vehicle insurance. In addition, there could be some other factors which may also impact your chances of qualifying for better insurance rates for your BMW car as under:
BMW 3 series auto insurance rates can greatly vary depending on which version you are driving. Accordingly, older BMWQ 3 series cars will be cheaper to insure than newer 2020 or 2021 models. This is because when your BMW 3 series car model is old, you will have to spend more money on expensive comprehensive and collision coverage features or need not buy them at all. To highlight the case, the average premium cost of BMW 3 series 2014 model is around $1,332 yearly. But the average insurance cost for a 2020 version of the same car is about $1,666.
Here is some vital information pertaining to the average cost of insuring a BMW 3 series car by model year.
| Model Year | Average Annual Premium |
|---|---|
| 2022 | $1,937 |
| 2021 | $1,901 |
| 2020 | $1,824 |
| 2019 | $1,803 |
| 2018 | $1,753 |
| 2017 | $1,680 |
| 2016 | $1,666 |
| 2015 | $1,622 |
| 2014 | $1,558 |
| 2013 | $1,552 |
| 2012 | $1,516 |
| 2011 | $1,432 |
| 2010 | $1,403 |
| 2009 | $1,346 |
From the above details it is quite evident that the average auto insurance rates offered for BMW 3 series cars by model years by different national insurance carriers are high. On an average, a 40 year old driver may have to pay $1,560 every year for getting his/her BMW 3 series vehicle insured. For all other similar type of luxury car models, the average insurance cost is around $1,427 yearly. But still, the BMW 3 series vehicles could be cheaper to insure as compared to luxury brand car models such as Tesla. To know more about how much will be the cost for your BMW 3 series car, talk to one of our experts today!
Your age can be an important factor in determining overall affordability of auto insurance premium for BMW 3 series cars. In line with the argument, it is needless to say that companies will charge substantially higher for BMW 3 series insurance 17 year old driver policies than those above that. But still, teen drivers have the opportunity to save money on premium by getting their names added on their parents’ policy. This ways they are not required to buy separate BMW 3 series car cover which is an expensive proposition.
The average BMW 3 series insurance 18 year old driver’s cost is around $5,092 yearly which is about $3,532 more than what a 40 year old driver may have to pay on an average for getting his/her BMW 3 series car insured. You can get some idea regarding the average BMW 3 series auto insurance rates for drivers in the age group 16 to 25 years from the following table.
| Age | Average Annual Rates |
|---|---|
| 16 | $6,528 |
| 17 | $5,783 |
| 18 | $5,092 |
| 19 | $3,647 |
| 20 | $3,255 |
| 21 | $2,577 |
| 22 | $2,374 |
| 23 | $2,172 |
| 24 | $2,039 |
| 25 | $1,850 |
| 40 | $1,560 |
From the above information, it is quite evident that younger drivers in the age group 16 to 25 years pay more for insuring BMW 3 series vehicles. And with growing age, vehicle insurance rates tend to decrease. So, BMW 3 series insurance 19 year old cost will be lesser than that of a 16 or 17 year old driver.
Andy Walker is a content writer for the AtoZ Insurance USA who specializes in the insurance and finance niches. He has been working as a freelance writer from several years, and has experience with a variety of content writing formats. Andy is a highly skilled writer who is able to produce quality content that is both informative and engaging.
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