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On average, BMW drivers save hundreds of dollars per year by comparing quotes with us.

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What our users say:

September 21
Promp response upon filling…
Promp response upon filling questionnaires,courteous representative.
arturo morales
September 21
They were really quick
They were really quick, and very helpful.
Katrina
September 20
On rate
The rates are very interesting
Georges Joseph
September 19
Very skilled people
Very skilled people Answered all my questions
Mike Walter
September 19
Amazing company.
Very professional company. So easy to use 5 ⭐️
Paul
September 15
well informed agent and fast respond.I…
well informed agent and fast respond.I can say one of the better one in the indu...
aj azma
September 14
Fast response
Fast response, great price!
Thuan Nguyen
September 10
The representative was very sweet and…
The representative was very sweet and understanding.
Faouzi Idrissou
September 9
responsive to what I need was calling…
responsive to what I need was calling me while I was still on the website, I tho...
Curtis Leong
September 9
Convenient way to do something that can…
Convenient way to do something that can be a pain in the b.... Thank you
Rick
September 8
I received all the information i was…
I received all the information i was interested in. Very nice service.
Wlodzimierz Wojtysiak
September 8
Most of the staff was very prompt and…
Most of the staff was very prompt and knowledgeable. The online application is e...
Karen Hall
September 7
Easy to use and call back promptly
Easy to use and call back promptly
Donna DAmore
September 6
Very helpful
The company is doing great. They tell you what is the best for you to do
Susan Paradero
September 3
Great Service! …
The person I spoke with was incredibly helpful and very polite. He was also pati...
Catherine White
August 31
The agent (Jan) was most professional
The agent (Jan) was most professional, courteous, and friendly.
Kewal Khanna
July 27
They gave me a lot of important…
They gave me a lot of important information
Liliana FERNANDEZ
July 13
THE PERSON ANSWERED ALL MYY QUESTIONS
THE PERSON ANSWERED ALL MYY QUESTIONS
Antonio
June 23
One Stop Shop - best rates with multiple companies
Found great rates with multiple companies which made it very easy to quickly ass...
Maryann O
June 22
Very professional polite & knowledgeable
Very professional polite & knowledgeable
Raymond Beaudoin
June 18
Easy and fast
Easy and fast. Saved $1000
Olga Baldin
June 11
Very prompt response
Very prompt response. Instructions were very clear. Had my best interest at hear...
Shairoz Kherani
June 10
Great dealings
Great dealings. Very pleased
Tim Cote
May 17
questions answered
questions answered
Aaron Ridsdale
May 10
Easy & Professional
Easy, fast, efficient & professional.
Nancy
May 8
Fast, friendly and knowledgable service.
I was still completing the online search form for new insurance when my phone ra...
Bonnie Wilson
May 6
Fast and easy
They phoned me literally within 30 seconds after my search and helped answer all...
Haley Adkins
April 26
Very little time on hold
Very little time on hold Easy to understand Friendly Really got a great deal
Melanie
April 26
My consultant Anees took me through the…
My consultant Anees took me through the whole process from my initial call, to r...
D.A.
April 22
My agent was easy to understand so the…
My agent was easy to understand so the process went well.
Jeffrey Kirkham

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BMW auto insurance: what you need to know.

German automaker BMW has been building cars since 1928. Today the company, which brands itself as the “ultimate driving machine,” is known worldwide for luxury, high-performance vehicles. Highly-regarded for technological innovation, BMW even offers the i-SERIES suite of electric cars through their dealerships. BMW offerings range from sport coupes and convertibles, to family sedans and sport utility vehicles.

BMW offers a four year or 80,000 kilometre warranty on new models, and is considered among the more reliable European brands according to Consumer Reports. The Munich-headquartered automaker is no stranger to accolades, including prestigious J.D. Power Awards for its 8 Series and X6 models in 2020.

Interested in purchasing a BMW? Getting the best BMW insurance rates is a must. Average rates for BMW car insurance don’t tell the full story. They can vary depending on whether your BMW is brand new or pre-owned, and other factors like where you live, and your driving history.

The best way to get the cheapest BMW insurance rate is to use a comparison tool like the one on LowestRates.ca to compare multiple offers instantly. Read on to learn more about how to get the best insurance rates for your BMW car or sport utility vehicle.

How much is insurance for a BMW?

The cost of insuring your BMW depends on multiple factors including the city and province or territory where you live. Only Alberta, the Atlantic provinces, Ontario, Quebec and the Territories have private insurance markets. Insurance is provided by the provincial government in all other provinces. There can be variations in BMW insurance quotes between jurisdictions that you may not be aware of. For example, Ontario residents often pay higher insurance rates than Quebec residents. Additionally, BMW drivers in big cities may find themselves paying higher premiums than those in smaller towns or rural communities.

BMW car insurance quotes can also vary depending on how long you’ve had your license. BMW insurance for young drivers can cost more than it does for experienced, older drivers. Your driving record is also important: speeding tickets and traffic violations impact how much you pay to insure your BMW. Having made claims on your driver's insurance in the past impacts your rate as well.

Because of these and other factors, using average BMW insurance costs may not give you the accurate information you need. You’re better off applying for custom quotes online to get the true cost of insuring your BMW.

The following are BMW car insurance rates offered to real LowestRates.ca users.

Estimated Premium

Front view of a car. Illustration.

See how our customers with collision coverage save big on auto insurance.

CustomerLocationVehicleLowest rateAverage rateSaved
Quote from September 24, 2023
Customer
Female, 41 years old
Location
ontario
Vehicle
2023 BMW X1 28I 4DR AWD
Lowest Rate
$352/mth
$4,224/yr
Average Rate
$552/mth
$6,628/yr
Saved
$200/mth
36.27%
Quote from September 23, 2023
Customer
Male, 20 years old
Location
ontario
Vehicle
2013 BMW 328I 4DR
Lowest Rate
$659/mth
$7,902/yr
Average Rate
$982/mth
$11,785/yr
Saved
$324/mth
32.95%
Quote from September 23, 2023
Customer
Male, 37 years old
Location
ontario
Vehicle
2024 BMW M4 COMPETITION M XDRIVE 2DR AWD
Lowest Rate
$188/mth
$2,258/yr
Average Rate
$655/mth
$7,862/yr
Saved
$467/mth
71.28%

Auto insurance quotes are compared from CAA, Coachman Insurance Company, Economical Insurance, Gore Mutual, Onlia Insurance, Pafco, Pembridge, SGI, Travelers, Zenith Insurance Company

Your questions about BMW auto insurance rates, answered.

What is the cheapest BMW to insure?

Luxury vehicles like BMWs aren’t as cheap to insure as other car brands. But lower-end models without custom trim generally cost less to insure than fully-equipped models. This is because fewer advanced technological options, like car alarms, airbags and other technologies, can potentially reduce repair costs in case of an accident.

Factors like your vehicle’s age, make, model, value, and potential repair costs are taken into account when BMW insurance brokers offer you quotes. Before you purchase a new or pre-owned BMW, compare quotes to see how much you can expect to pay to insure your vehicle. A comparison tool like the one on LowestRates.ca offers people seeking insurance dozens of quotes instantly to compare and review.

Used vs. new BMWs: which is cheaper to insure?

Generally speaking, it is cheaper to insure a used BMW model than a new one. Pre-owned cars and SUVs that are five years or older generally don’t require extra insurance coverage. Meanwhile, leased new BMWs usually require both comprehensive and collision insurance. Collision insurance is recommended for new vehicles as well. The plus side to collision insurance is that aside from the deductible or possibly the cost of a rental car, there’s generally no out of pocket payment for the policyholder.

For buyers interested in a pre-owned BMW, the automaker offers Certified Pre-Owned models with limited powertrain warranties at their dealerships. Buyers can also purchase used BMWs from other auto dealerships or from private sellers. BMW used car insurance can require a fraction of the monthly payments it can cost to insure a new model. Our online comparison tool can be used to compare cheap BMW car insurance for new and pre-owned models to help you understand the true cost of insuring your vehicle.

What is the best car insurance for a BMW?

Getting the best BMW car insurance rates in Canada can’t be accomplished by going to a single insurance provider. No single insurance company offers the best rate for a particular BMW model. That’s why you need to compare BMW insurance rates online.

The driver of the vehicle makes the biggest difference, and all the unique factors that impact your individual rates from location, to age, to insurance history. Additionally, there are different underwriting standards at different insurance companies which can cause variations in BMW insurance quotes. That means the factors considered when creating your quote won’t necessarily cost you the same amount at different companies.

Drivers get the best BMW vehicle insurance rates by comparing multiple options to find the best fit for their needs. Use our online comparison tool to find the best insurance for you and your BMW, by comparing multiple rates instantly.

How are auto insurance quotes for BMW calculated?

When calculating quotes for BMW insurance, companies take a number of factors into account. The best car insurance rates for BMWs can vary depending on your personal history and needs. Rates can also vary depending on the underwriting criteria of the insurer.

Whether insuring a new or pre-owned BMW, factors which will impact your quote include:

Location: The province or territory you live in will make a difference when getting the best BMW insurance rate. Residents of densely populated cities tend to have higher rates, because of increased risk of accidents or break ins. Whether your province or territory offers private or public insurance is also a factor.

Age of driver: Generally speaking, the older you get and the longer you've been driving, the cheaper your insurance is. This is, in part, because mature drivers tend to have fewer accidents than newer ones. Even on pre-owned models, BMW insurance policies can be higher for those under age 25, particularly for teenage drivers.

Frequency of use: Do you drive a little or a lot? Because this factor can make a big difference in the cost of your BMW insurance coverage. The more you drive, the more risk of collision you face. If you drive a lot for work or commute long distances you'll pay more than people who seldom use their vehicles.

History: If you've recently been at fault for an accident, you will face higher insurance premiums on your BMW. Drivers with clean histories will notice a difference in price on their BMW car insurance when insuring their car or SUV.

Customer loyalty: BMW insurance renewal can be cheaper over taking out an entirely new policy. This is because when you’re with an insurance company for a long time or renew your policy you can sometimes save more than taking a policy with a new provider.

Use our online tool to review BMW insurance quotes to find the best policy and price for your needs and budget.

Is it safe to buy BMW insurance online?

Yes, it’s totally safe to buy car insurance online. We’ve helped Canadians save millions on their insurance costs. Get a quote for car insurance on LowestRates.ca and start saving today.

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