
The 2009 BMW 650i is moderately costly to insure annually, placing it seventh of 10 BMW models MoneyGeek evaluated. Progressive has the lowest policies while Allstate had more expensive premiums.
This two-door luxury performance coupe comes as both a convertible and four-door sedan model. If leasing or financing it through your lender, they may require full coverage insurance coverage.
1. The Model
Your car type can play an instrumental role in determining your insurance costs. A BMW 650i luxury coupe designed for performance may cost more to maintain and repair, which drives up insurance costs accordingly. Furthermore, two-door models such as this could make the 650i more appealing targets for thieves.
Reduce the costs of insuring a BMW 650i by choosing either a lower coverage limit or increasing your deductible. A higher deductible may require paying more out-of-pocket should an accident arise, but will reduce premiums by about 10%. Bundle your home and auto policies with one provider for greater savings. Many insurers also provide discounts to drivers with excellent grades or who complete driver education courses or reside in safe neighborhoods.
Assuming you are an exceptional driver, it should be possible to obtain an acceptable insurance rate for your BMW 650i. Avoiding traffic citations or major convictions which could drive up premiums by around $2,178 annually may help keep rates reasonable; you might also find savings through companies providing roadside assistance or rental car coverage that allows for renting a replacement car should yours become damaged.
Car insurance costs for the BMW 650i can vary significantly based on factors like your age, gender and location. Men usually pay more than women for car insurance premiums while younger drivers often face higher premiums than their elder counterparts. Furthermore, purchasing a newer car may influence this cost as these newer vehicles tend to be safer and less likely to be stolen than older ones.
Credit score and loan balance will have a huge impact on your car insurance rates, just as driving history does. When financing your BMW, your lender may require full coverage insurance to protect both liability, collision, comprehensive and gap coverage - further strengthening your policy by covering what the difference would be between what your loan entails and what will be reimbursed by an insurer in case your vehicle is totaled.
2. The Year
Your BMW 650i's year of manufacture can have an effect on its premium cost. In general, older cars tend to cost less because they tend to be more reliable and resistant to damage or theft; however, certain models (like the BMW i8) such as this may cost more due to advanced technologies and high performance features.
Insurance providers take several factors into consideration when calculating insurance costs for BMW owners, including its model, year and trim level as well as your ZIP code and driving record, annual mileage driven, ZIP code area restrictions and your driving history. When selecting and choosing an insurance policy it's essential to keep these elements in mind.
An average BMW 1 Series vehicle carries an annual car insurance rate of $1,305 - making it one of the more cost-effective BMW models to insure. Progressive and Allstate offer policies at relatively reasonable costs while GEICO and Allied provide cheaper policies for this model.
However, BMW 3 Series models typically cost an average car insurance premium of $1,560 on average - this car represents the sixth most costly BMW model to insure and is generally considered moderately priced compared to other brands. GEICO provides some of the most cost-effective policies while Allstate may provide more costly ones.
When shopping for a BMW car, be mindful of its maintenance and repair costs. BMW cars tend to be more costly to keep up than others due to hard-to-find replacement parts; this could add up over time and drive up insurance premiums significantly.
Age and gender also influence car insurance rates. Younger drivers often pay higher premiums due to being more prone to accidents and violations; however, you may be eligible for discounted rates by being an excellent student or having completed driver education classes; being female also can help secure lower premiums; finally taking advantage of discounts offered by car insurers is another great way to save money!
3. The Trim
The BMW 650i is one of the most sought-after large luxury cars, yet its insurance costs can be fairly steep. Drivers should research ways they can lower their premium and find a provider with competitive rates; bundling home and auto policies with one provider, avoiding traffic tickets, bundling policies together or bundling them together all can all help lower rates - although even minor infractions on your driving record could increase it by as much as $618 annually; major convictions such as hit-and-run, DUI or reckless driving could result in increases up to $2,178 annually or even higher!
Your BMW 650i trim will have an enormous influence on your car insurance premiums. More expensive trims tend to cost more due to having additional safety features and technology installed that may cost insurance companies to repair or replace; some additional features may even qualify for discounts if added into your vehicle.
Insurance companies base their premiums on the likelihood of drivers filing claims and the costs associated with paying those claims, with factors like location and driving history weighing heavily against one another; but model preference often has more sway over premium costs; especially among BMW models which each possess their own set of specifications and performance measures.
MoneyGeek conducted an analysis to help drivers better understand the differences among BMW models. According to MoneyGeek's findings, MoneyGeek analyzed average car insurance costs for 10 of BMW's most popular vehicles and concluded that insuring a 1 Series was most affordable while insuring an i8 was most costly. Drivers searching for more cost-effective 650i insurance should look towards policies from either GEICO or Allied; it is also essential that they read fine print carefully and compare quotes before making their final decision as the premium should accurately reflect coverage; additionally adding extras such as roadside assistance or rental car coverage could further enhance its value and benefit your policy value further.
4. The Driver
If you want to reduce your BMW 650i car insurance costs, driving safely and keeping a clean record are two key components in doing so. Avoiding traffic citations, accidents and DUI convictions will significantly decrease annual rates; senior discounts may also apply if over 50.
As for coverage, a typical full policy for your BMW 650i should cover injuries or property damage caused by you in an accident, comprehensive (which pays to repair it regardless of what caused it) and collision (optional - pays if your BMW gets hit by another car or object). Uninsured motorist coverage and medical payments may also be included as standard in an insurance plan.
The BMW 650i is considered a luxury performance vehicle and thus may not be as cost-effective to insure than other BMW vehicles, though still relatively reasonable compared to competitors in its large luxury sedan class. MoneyGeek's analysis ranks it 21st out of 31 for insurance affordability.
MoneyGeek research revealed that Progressive is the top insurer for BMW 650i owners, followed by GEICO and Allstate. Meanwhile, Allied provides more expensive policies. For optimal BMW 650i insurance rates, make sure to shop around and compare quotes from various companies before making your choice. Be sure to consider other factors like your ZIP code, annual mileage driven and credit score when making this decision. If you need assistance determining how much car insurance will cost, take a look at our FAQ page or reach out directly. Our team of experts are standing by to find you an incredible deal on car insurance for your BMW 650i; just fill out a quick online form and start saving big on premiums today!