BMW i8 Car Insurance Cost

To insure a BMW i8, the annual cost is approximately $3,050 through Farmers. However, this expense can vary based on factors such as age, the car’s model year, and other considerations. You can utilize the quote tables provided below to determine a more accurate estimate of your insurance premiums.

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Updated: 12 October 2024
Written by Bob Phillips
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If you’re thinking about buying a BMW i8, one crucial consideration is the insurance cost. Insurance is a significant aspect of owning a car, and it’s essential to understand the financial implications before making a purchase.

Selecting the right car insurance policy is vital to avoid unexpected and potentially high expenses in the future. Having inadequate coverage during an accident can lead to significant out-of-pocket costs. Additionally, there’s a risk of increased premiums if you’re deemed at fault.

Having analyzed car insurance rates for over a decade, I’ve observed considerable variation in costs. Factors like your age, driving history, and even your location can significantly impact insurance premiums.

How Much Does BMW i8 Car Insurance Cost?

Typically, Farmers provides the most competitive price, averaging $3,050 annually for full coverage insurance on a 2020 BMW i8.

While Hanover’s pricing sets a solid standard, it’s crucial to recognize that car insurance costs can vary significantly based on several factors. These factors include your location, driving record, the model year of your car, and the specific coverage options you select. Maintaining a clean driving history can result in lower premiums, whereas a record of accidents or traffic violations can drive up your expenses.

Moreover, residing in an urban area with heavy traffic may lead to higher rates compared to rural regions with less traffic. Additionally, the type of coverage you opt for will influence your premium – full coverage insurance, which encompasses comprehensive and collision coverage, typically costs more than minimum liability coverage.

Insuranceopedia is available to assist you in comparing quotes from various insurance companies to ensure you secure the most suitable and affordable coverage.

2020 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
USAA $3,363
Country $5,759
West Bend Mutual $4,780
Farmers $3,050
State Farm $3,321
Allied $6,166
Farm Bureau Mutual (IA Group) $4,185
American Family $3,842
Auto Club Group $4,352
Auto-Owners Insurance Co $4,391

2019 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Hastings Mutual Insurance Co $2,048
Auto Club Group $2,967
American Family $2,439
Esurance $3,288
Auto-Owners Insurance Co $3,186
SECURA Insurance $2,102
Pekin Insurance $3,452
Erie $2,863
Mercury $3,402
California Capital $2,319

2018 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Direct Auto $1,967
SECURA Insurance $2,086
West Bend Mutual $2,325
Pekin Insurance $2,394
Esurance $2,438
California Capital $2,732
American Family $2,789
Hastings Mutual Insurance Co $3,061
Country $3,071
Western National $3,092

2017 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Chubb $5,510
Farmers $7,153
Permanent General $6,882
California Capital $3,057
Hartford $4,982
Mercury $4,041
State Farm $6,421
USAA $5,619
Texas Farm Bureau Group $1,527
Esurance $3,492

2016 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Mercury $4,261
Penn National $1,904
California Capital $2,732
Esurance $5,595
Erie $3,330
Virginia Farm Bureau $1,070
New Jersey Manufacturers $4,445
Travelers $1,546
Hartford $5,340
Cincinnati Insurance $4,297

2015 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Travelers $3,405
Safeco $1,595
Liberty Mutual $5,061
United Automobile Ins Group $5,655
Direct Auto $1,330
California Capital $4,901
American Independent Ins Co $6,554
State Farm $6,593
Erie $5,806
National General $6,825

2014 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
State Farm $5,951
Texas Farm Bureau Group $2,789
Unitrin $7,186
CSAA $8,180
United Automobile Ins Group $3,634
California Capital $2,754
Allied $3,336
Hartford $5,366
21st Century $8,105
Mercury $6,446

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Cost of BMW i8 Car Insurance By Age

Age Good Driver Recent Accident Poor Credit
17 $20,878 $30,646 $35,784
18 $19,419 $28,541 $33,430
19 $17,197 $25,241 $29,529
20 $15,011 $22,035 $25,693
21 $12,550 $18,469 $21,577
22 $12,237 $17,986 $21,049
23 $10,684 $15,753 $18,349
24 $10,201 $14,949 $17,487
25 $8,760 $12,894 $15,114
30 $6,883 $10,075 $11,785
35 $6,374 $9,391 $11,014
40 $6,113 $9,066 $10,581
45 $6,029 $8,842 $10,300
55 $5,522 $8,023 $9,399
65 $5,727 $8,410 $9,894
75 $7,280 $10,577 $12,438

BMW i8 Car Insurance Rates By State

State Good Driver Recent Accident Poor Credit
Alabama $6,483 $9,474 $12,081
Alaska $5,398 $7,450 $7,284
Arizona $6,083 $8,788 $12,991
Arkansas $6,696 $10,488 $11,603
California $7,417 $13,123 $7,410
Colorado $6,918 $9,701 $12,367
Connecticut $8,844 $13,807 $17,447
Delaware $7,320 $9,808 $12,574
Florida $8,771 $12,105 $15,772
Georgia $7,163 $10,686 $10,767
Hawaii $2,816 $3,859 $2,853
Idaho $4,961 $6,609 $8,027
Illinois $5,228 $7,863 $8,981
Indiana $5,355 $8,143 $9,132
Iowa $4,218 $5,811 $6,834
Kansas $5,649 $8,167 $9,525
Kentucky $8,100 $11,871 $14,038
Louisiana $10,416 $15,704 $17,082
Maine $3,934 $5,423 $8,050
Maryland $6,393 $9,282 $10,316
Massachusetts $5,111 $8,954 $5,158
Michigan $12,289 $18,813 $29,669
Minnesota $5,097 $6,775 $9,526
Mississippi $6,118 $8,757 $8,843
Missouri $5,813 $8,275 $10,831
Montana $5,879 $8,223 $9,549
Nebraska $4,966 $7,330 $8,008
Nevada $8,176 $12,169 $12,797
New Hampshire $5,738 $8,971 $11,423
New Jersey $6,316 $9,871 $12,882
New Mexico $6,423 $9,507 $9,907
New York $5,903 $7,517 $12,515
North Carolina $3,675 $6,287 $4,484
North Dakota $5,040 $7,670 $9,018
Ohio $4,489 $6,968 $7,112
Oklahoma $7,213 $10,291 $11,583
Oregon $6,489 $8,787 $10,430
Pennsylvania $5,452 $8,093 $9,456
Rhode Island $9,136 $13,455 $15,118
South Carolina $6,200 $8,649 $11,962
South Dakota $5,587 $8,048 $9,334
Tennessee $6,556 $9,695 $12,873
Texas $6,635 $9,531 $11,885
Utah $5,634 $7,886 $10,863
Vermont $4,307 $6,670 $7,046
Virginia $4,093 $6,301 $6,185
Washington $5,416 $7,308 $8,741
West Virginia $5,446 $7,796 $9,718
Wisconsin $5,451 $8,470 $9,651
Wyoming $5,045 $7,097 $7,575

Our Methodology

To ensure accurate and trustworthy insurance company ratings, I employed a detailed methodology. I assess numerous insurers, utilizing insights from reputable review sites and critical metrics from industry authorities such as A.M. Best and J.D. Power. With my 15 years of experience as an insurance agent, I enhance our analysis with firsthand knowledge, ensuring our ratings are reliable guides for your insurance decision-making process.

105

Quotes Analyzed

58

Brands Reviewed

40+

Research Hours

15+

Years Of Experience

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