Cars and Trucks

What To Know About the Insurance Cost for BMW 328i

When researching the insurance cost for BMW 328i, although the brand provides high-end and high-performance vehicles, the cost of insurance is competitive and lower than other brands such as Aston Martin and Rolls-Royce. This is due to the vehicle’s safety features and overall good ratings in government crash tests. Although the BMW is an expensive car, it does not have a high percentage when it comes to being a target for theft.

When calculating the rates for an auto insurance policy for the BMW, insurance providers consider the safety statistics. The BMW has earned four and five star ratings, with five being the highest score possible. The IIHS (Insurance Institute for Highway Safety) has also rated the BMW with “good” safety ratings, which is the institute’s highest rating.

Top Five Insurance Companies

When researching insurance companies offering the most reasonable rates, the following are the top choices according to Automobile.com:

  • Geico
  • State Farm
  • Progressive
  • Allstate
  • AAA

    Average Monthly Insurance Rates for the BMW 328i

    Cheap Car Insurance has provided a breakdown of the average cost for auto insurance premiums for all states. The information supplied is based on insurance state fillings by the public.

    The website also notes the average premium for a BMW when compared to a Ford Edge SE, which averages $94 per month, and a Mercedes CL600 at $280, is $147. Based on the compiled data, Maine has the cheapest insurance at $96 while Georgia has the most expensive insurance premiums of $279.

    Finder.com notes the average cost as $2413 annually and $201 monthly. Differences in premium rates are affected by several factors.

    In comparison, information from insuraviz notes the average annual cost for full coverage of a BMW 328i is $1538 with monthly costs of $128 based on data from 2013-2016. At that time, the BMW 328i was ranked 15th out of 29 vehicles as having the most affordable rates for car insurance.

    Since a quote is an estimation of the monthly/yearly premium is based on several variables, to find the best insurance rate for the BMW is by comparing quotes from multiple insurance providers. Several things to consider when researching insurance companies include:

    • Each state has its own requirements for insurance coverage. Know what your state requires to ensure all requirements are met while not paying for coverage not needed.
    • When requesting quotes, use the same information regarding coverage limits and deductibles for each insurance provider.
    • Ask each insurance provider if the company offers any discounts that can impact the cost of the premium such as senior, military, good student, federal, renters, and good driver discounts.

      The following are other considerations that can help lower the insurance premium:

      Bundling

      Bundling car insurance with multiple policies, such as homeowner’s insurance, may result in a lower premium.

      Family/Group Plan

      For families with multiple drivers, a group insurance plan can lower rates.

      Improving Credit Score

      Insurance provides can use an individual’s credit score to determine premium costs. The better the credit rating may make it easier to get a better rate.

      Defensive Driving Course

      For drivers whose record may not be perfect, enrolling in a defensive driving course is an action that insurance providers consider when determining rates.

      Safety Features

      A car equipped with anti-theft and safety features is also a consideration by insurance companies.

      Most Expensive States for BMW 328i Insurance

      According to Zimlon.com, the following are the 10 states with the highest and lowest average cost for insurance premiums.

      1. Georgia ($3100)
      2. Michigan ($3000)
      3. Louisiana ($2700)
      4. Oklahoma ($2400)
      5. Montana ($2300)
      6. Kentucky ($2200}
      7. Connecticut {$2100)
      8. West Virginia ($2000)
      9. Pennsylvania ($2000)
      10. New Jersey ($2000)
        1. States with Less Expensive Rates for BMW 328i Insurance

          1. Iowa ($1100)
          2. Maine ($1100)
          3. Ohio ($1200)
          4. Indiana ($1300)
          5. North Carolina ($1300)
          6. Wisconsin ($1300)
          7. Colorado ($1400)
          8. Florida ($1400)
          9. Illinois ($1400)
          10. New Hampshire ($1400)
            1. Tips for Buying Car Insurance Online

              There are several tips provided by Allstate that may help in finding the best car insurance coverage at the best price:

              Available Information

              When searching online for free quotes for auto insurance, be prepared to answer questions relating to the car such as the make, model, and year, mileage of the vehicle, and safety features. Driver’s license information may also be requested.

              Coverage Comparisons

              Know ahead of time the type of coverages to be included in the policy. Types of insurance coverage include liability car insurance, comprehensive and collision insurance, medical coverage, personal injury protection, uninsured motorist protection, rental reimbursement coverage, and towing and labor coverage.

              Limits and Deductibles

              Be aware of the limits the policy covers to ensure the vehicle is adequately protected in the event a claim is filed. For the deductible, the higher the deductible is set results in a lower premium. The downside is in the event repairs are necessary, the out-of-pocket amount will be higher.

              Discounts

              As already noted, insurance providers often have specific discounts available from their company that can help determine the premium rate and provide a lower cost for those that qualify.

              Speak with an Insurance Agent

              While using the internet to research insurance companies and request free quotes, talking to an agent, whether in person, on the phone, or using chat allows you to ask any questions or get any clarification and receive an immediate answer. A face-to-face interaction may establish a long-term relationship with an agent who can be an ongoing resource for current and future insurance needs, policy changes, or situations involving filing a claim.

              Check this out if you need additional information, resources, or guidance on car insurance.

              Sources:

              Get Free Quotes Now |automobile.com Accessed August 4, 2021.

              BMW 3 Series insurance cost |finder.com Accessed August 4, 2021.

              BMW (328i) All Trims |cheapcarinsurance.com Accessed August 4, 2021.

              BMW 328i Insurance Cost (2021 Rates + Comparisons | insuraviz.com Accessed August 4, 2021.

              BMW 328i Insurance | zimlon.com Accessed August 4, 2021.

              5 Things To Know When Buying Car Insurance Online | allstate.com Accessed August 4, 2021.

              Insurance For The BMW 3 Series: What You Need to Know | caranddriver.com Accessed August 4, 2021.

              Car Insurance | caranddriver.com Accessed August 4, 2021.

              2022 BMW 3-Series| caranddriver.com Accessed August 4, 2021.

              BMW | caranddriver.com Accessed August 4, 2021.

              2021 Ford Edge | caranddriver.com Accessed August 4, 2021.

              Mercedes-Benz CL600 | caranddriver.com Accessed August 4, 2021.

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