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Collin Coon/Getty Images June 14, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Sara Coleman is an insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Steve Ellis, CPCU, AIC, MBA, is a 30 year veteran of the insurance industry. His experience extends into training, operations, quality improvement, audit, compliance, claims technology, and data & analytics. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. A luxury vehicle like a BMW can be a major purchase for any budget, but the cost to own one goes beyond the upfront sticker price. There are multiple other financial factors involved with ownership, including fuel, maintenance and car insurance. Many buyers may not realize the type of vehicle you drive has a sizable impact on the amount of your auto insurance premiums, and owning a BMW is no exception. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More RATE INCREASE ALERT Rates increased up to 12% this year
Shop for a better rate before you renew your current policy. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More On average, the BMW 330i is more expensive to insure due both to the value of the vehicle as well as the higher cost of parts. Bankrate analyzed premiums from Quadrant Information Services to help BMW drivers determine the average cost of car insurance for a BMW 330i. How much does it cost to insure a BMW
The average cost of car insurance for a BMW 330i is $2,270 annually for full coverage and $527 for minimum coverage in 2022. The , which means the BMW 330i is typically more expensive to insure. There are numerous factors that insurance companies use to determine your rates, and the vehicle make and model is one of them. Because the BMW 330i is a luxury vehicle, with a , it would cost an insurance company more to replace it should it be totaled in an accident. Other factors also affect the rate, including: Crash rate stats per make/model: The Insurance Institute for Highway Safety (IIHS) lists the for a mid-size luxury sedan, which positively impacts insurance rates. Price of parts: The BMW 330i includes parts , Germany and China, which adds to the expense of replacing a part, contributing to a higher insurance cost. Safety features: The BMW 330i comes standard with air bags, safety warnings, an anti-theft system and anti-lock brakes, which all contribute to better safety ratings and could help lower rates somewhat. How can you save money on BMW car insurance
With the higher cost of BMW car insurance, it may be a priority for owners of this vehicle to find ways to save money on auto insurance premiums. Here are a few tips to use to lower your car insurance costs: Bundle policies: with one carrier could earn you a discount on both policies. Get quotes before you buy the BMW: Finding out how much car insurance will cost before you buy is one way to help you decide which company offers the lowest rate for a BMW. It can also help you decide in advance of purchasing your BMW by knowing which model year or trim package could be more affordable to insure. Increase deductibles: If you carry both and coverage, you can to save on the premium. Just make sure you can reasonably afford to pay the higher out-of-pocket cost if you need to file a claim. Shop around: One of the best ways to save on your premium upfront is to get multiple quotes from different companies for the same coverage levels to . Keep a clean driving record: Maintaining a good driving record free from accidents and moving violations is one of the best ways to keep your premium as affordable as possible. Not only does a clean driving record keep you safer on the road, you’ll often qualify for additional discounts and savings. One thing to note is that if you have a loan on your BMW, you’ll likely be required to purchase specific full coverage, among other stipulations. Checking with your lienholder to discuss requirements ahead of can be helpful. Car insurance for a BMW 330i
Several factors go into determining BMW insurance costs, as with all other vehicles. In general, car insurance companies use the , ZIP code (in most states), miles driven per year and your driving record as key factors for premiums. The BMW 330i is typically more expensive to insure because it is a luxury vehicle, which means the parts are more expensive. If you are involved in an accident, it will cost more to repair or replace the vehicle, versus other vehicles produced domestically. BMW 330i car insurance Average annual premium Minimum coverage $527 Full coverage $2,270 Cheapest car insurance companies for a BMW 330i
The chart below illustrates how your BMW car insurance rates can vary depending on the provider too. Even though the inputs were the same, there were large differences in the full coverage amounts. These five because they represent some of the largest providers based on market share and offer affordable coverage on average. Although exact rates will be different for every driver, USAA and Erie offered the cheapest premiums for the BMW 330i. Average annual premium for full coverage by model
Car insurance company BMW 330i $1,730 $1,533 $1,887 $1,646 $1,495 Learn more: BMW 330i features that impact insurance costs
While a BMW 330i might have higher insurance costs due to more expensive parts, there may be other influencing factors too. Features impacting insurance costs could include: Air bags: The BMW 330i includes both seat-mounted front air bags and knee air bags for the driver and passenger seats. Active Guard Warning System: This safety feature includes the frontal collision, automatic city collision mitigation and braking and lane departure warnings, to alert drivers of possible danger while out on the road. Other car insurance coverage for a BMW 330i
Because the cost of car insurance for a BMW 330i is typically higher than the national average, it may be tempting to only purchase the minimum amount of legally required coverage. However, only purchasing your state’s minimums could lead to hefty financial losses in the event of an at-fault accident, especially if you have to pay out of pocket medical or property damage costs to another driver. Full coverage insurance offers greater financial protection and generally refers to policies with liability coverage, collision and comprehensive. If you lease or finance your BMW 330i, the lender will likely require you to include both in your policy so the lender’s financial interest is protected. These coverage types extend cover damage to your vehicle from covered losses. Adding to a full coverage policy is another way to make coverage even more robust. This insurance pays the “gap” between how much you owe on your lease or loan versus the amount an insurance company would offer to pay off your new vehicle if it were totaled in an accident. You could also increase your coverage by adding for emergencies when your car is inoperable or so you can pay for a rental while your car is in the shop for repairs. Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 BMW 330i, commute five days a week and drive 12,000 miles annually. These are sample rates and should only be used for comparative purposes. SHARE: Sara Coleman is an insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability. Mariah Posey is an auto and homeowners insurance writer and editor for Bankrate.com. She aims to make the insurance journey as convenient as possible by keeping the reader at the forefront of her mind in her work. Steve Ellis, CPCU, AIC, MBA, is a 30 year veteran of the insurance industry. His experience extends into training, operations, quality improvement, audit, compliance, claims technology, and data & analytics. Related Articles