BMW 228i drivers may experience differing insurance premiums depending on which provider they go with. On average, however, owners tend to pay more for full coverage insurance policies for this particular luxury vehicle than comparable alternatives.
To ensure you find the lowest rate, compare quotes from multiple carriers before making a final purchase decision. Also keep any applicable discounts in mind that may apply.
1. Comprehensive Coverage
MoneyGeek estimates that insuring a BMW 228i costs only an average monthly premium of $82. This makes it one of the more cost-effective models from their lineup to cover, making this vehicle ideal for drivers seeking to cut costs on premiums. Plus, its safety features and price point make this car ideal for drivers wanting to cut premium costs!
However, factors like an individual's age, driving record, credit score and where they live all play an impactful role in determining their insurance rates. Online tools allow drivers to compare quotes and choose coverage best suited for them.
An annual mileage is also a crucial factor in the cost of auto insurance premiums for drivers. Drivers who cover less miles tend to have a reduced risk of an accident, leading to reduced premium costs; conversely, those driving more may face higher premium costs as their risk increases significantly.
When it comes to selecting an insurer for this model car, GEICO typically provides the most cost-effective policies while Allstate tends to charge higher premiums. Furthermore, USAA often provides cheaper premiums but only for members of the military and their family members. Other providers offering affordable premiums include Alfa Insurance, American Family and Progressive.
Purchase of a BMW can be exciting for drivers, yet its insurance costs may put off potential buyers. To reduce car insurance costs and find discounts more easily, bundling auto and home policies with one provider and hunting down discounts is often effective in keeping costs under control. Drivers may also consider vehicles with manual transmission as these tend to cost less in insurance payments compared with vehicles equipped with an automatic transmission; also look out for cars without cabriolets as this add-on usually costs more to insure than its coupe counterpart.
2. Collision Coverage
Owning a BMW may be fun to drive, but ownership comes with additional financial costs beyond its initial sticker price. These expenses may include fuel, maintenance and car insurance coverage costs. Some consumers may be unaware that owning one has an effectful difference on insurance premiums; typically BMW owners tend to pay higher auto policy premiums.
There are various ways you can save on BMW 228i car insurance, such as being an experienced driver who earns discounts, choosing appropriate coverage options (i.e. if driving an older model vehicle drop collision and comprehensive to reduce premium costs) or opt for lower premiums; but bear in mind you can always add back these types of protection if deemed worthwhile by their safety benefits - depending on what insurance carrier.
To get the cheapest rates, it is best to shop around and compare quotes from several insurers. Also look for companies with strong financial stability and customer service reputations. Finally, to save even more, bundle BMW car insurance with other policies such as homeowners or renters insurance policies for maximum savings.
Average BMW 228i car insurance premiums typically run less than $1,500 annually with full coverage - significantly lower than the national average of $1,579. Of course, individual costs may differ based on driver age and policy deductible selection.
Geico offers BMW drivers the lowest average car insurance rates at an annual average cost of around $1,066, while Allied provides higher premiums. Your location also plays a crucial role; Maine residents pay lower average premiums at roughly $100 annually while Georgia motorists face some of the most costly premiums of around $250 yearly.
3. Uninsured Motorist Coverage
Car insurance providers consider your vehicle, its make and model as well as several personal details including driving record, credit score and (in most states) age when setting rates. Furthermore, due to BMWs being considered premium vehicles they tend to be more costly for repairs or replacement than domestic models.
Drivers purchasing a BMW should expect higher insurance premiums. But there are ways you can lower your auto insurance costs if you're willing to put in some work. Start by gathering quotes from multiple providers and searching for discounts such as safe driver or good student discounts; bundling home and car policies together may also yield additional savings.
To assist in finding the most affordable rates, we analyzed BMW car insurance costs to identify which providers have the lowest average premiums and have also highlighted five cheapest insurers for both full coverage and minimum coverage policies.
MoneyGeek calculated that the annual average insurance cost for a BMW 4 Series stands at an estimated average annual premium of $1,769. Progressive has offered Progressive provides cheaper policies while Allstate had more expensive policies available to this model.
The BMW i3 averages $1,673 annually in annual insurance costs, placing it fifth of 10 popular BMW models MoneyGeek studied. Being a hybrid, its lower theft and damage risks make it less likely for thieves and vandals. Furthermore, its excellent safety ratings from National Highway Traffic and Safety Administration could keep premiums lower.
4. Underinsured Motorist Coverage
When driving on the road and encounter an uninsured driver, you will want to ensure you have uninsured motorist coverage. This helps pay for repairs or medical expenses should they cause injury; minimum requirements vary by state to obtain this type of policy, although you could save money by including it as part of your comprehensive or collision policy.
Your BMW model and optional features will have an effect on its insurance rates, such as convertible vs SUV or trim level and option choices that could lower them. In addition, consider your crime rate when obtaining car insurance; certain states have higher crime rates which could raise premiums significantly.
Before purchasing the BMW 228i, take a close look at its safety ratings and features such as its manual or xDrive transmission option for car insurance rates comparison purposes. It is also wise to be familiar with its MSRP (Manufacturer Suggested Retail Price) and horsepower as these factors could also have an effect on premium costs.
MoneyGeek conducted a study that found GEICO to offer the least expensive BMW car insurance policies, followed by Progressive, Allstate and Allied. But individual results may vary significantly; drivers in Michigan could see much higher insurance costs than their counterparts in Massachusetts for instance. Always compare quotes to find the best rates tailored specifically to your situation and ask about any discounts that apply such as being an accident-free driving course graduate or being considered a safe driver by your car insurance company.
5. Medical Payments
As with all insurance rates, these can vary dramatically. Insurance providers take into account factors like your driving record, car model and ZIP code when calculating annual mileage; other considerations could include car value, credit history status and age as potential sources.
BMW premiums tend to be higher than average due to the luxury vehicle's higher repair and replacement costs compared to standard cars. Furthermore, many drivers opt for full coverage on their BMWs; typically including liability, collision and comprehensive policies as a form of protection in case an accident happens or your car is stolen. This policy offers essential protection in these instances.
The BMW 228i is a small luxury vehicle that costs an average annual premium of $1,504 to insure, ranking fifth out of 26 other small luxury vehicles when it comes to insurance rates. Furthermore, insuring this car typically costs about $130 less each year than insuring a Mercedes C300 and $46 more when insuring a Volvo S60.
When it comes to lowering premiums, there are various strategies you can employ. First and foremost, avoid getting involved in any accidents or traffic violations, especially if you're young driver. Also try shopping around and gathering quotes from various insurers so you have a better idea of your options for lowering rates.
Other tips for lowering your BMW 228i car insurance rate include looking into any discounts you might qualify for. Most insurers provide discounts to drivers employed in certain professions such as physicians, scientists and lawyers. You could also save by insuring it through a direct to owner auto insurer instead of through your dealership.