BMW M8 Car Insurance Cost 2025
Getting insurance for a BMW M8 costs $629 per year, on average. However, the exact cost can vary depending on factors such as your age, the year of the car model, and other personal details. To get a more accurate estimate of your specific insurance costs, you can use quote tables or compare quotes from multiple providers.
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If you’re considering purchasing a BMW M8, it’s important to consider the cost of insurance. On average, insurance for a BMW M8 costs $629 per year. Insurance is a significant aspect of car ownership, and it’s essential to understand the financial commitment before making a decision.
Selecting the right car insurance is vital to prevent unexpected and potentially costly surprises in the future. It’s crucial to have adequate coverage in the event of an accident to avoid substantial out-of-pocket expenses. Additionally, being responsible for an accident could lead to higher premiums.
Based on my experience of over ten years studying car insurance rates, I’ve noticed how much these costs can vary. Your age, driving history, and location are all key factors that can affect your insurance premiums.
How Much Does A BMW M8 Car Insurance Cost?
Typically, BMW M8 drivers can find car insurance at an average rate of $629 per year. However, the actual cost may vary depending on factors such as your age, location, driving history, and the level of coverage you choose. To get the most accurate rate, it’s best to compare quotes from multiple insurance providers.
It’s important to recognize that car insurance costs can vary significantly due to several factors. These include your location, driving history, the model year of your car, and the specific coverage options you choose. A clean driving record can lower your premiums, while a history of accidents or traffic violations may result in higher costs.
Living in an urban area with heavy traffic can lead to higher rates compared to rural areas with less traffic. Additionally, the type of coverage you select plays a major role in your premium. For instance, comprehensive insurance, which covers both comprehensive and collision, typically costs more than basic liability coverage.
As shown, the cost of insurance for a BMW M8 is relatively lower compared to the average cost of all BMW models. However, it is still higher than the average cost for all cars. Insuranceopedia is here to help you compare quotes from different providers to find the best deal for your needs.
| Vehicle | Average Monthly Premium |
| BMW M8 | $299 |
| All BMWs | $197 |
| All Cars | $175 |
Average Insurance Cost Of BMW M8 By Model Year
| Model Year | Average Premium |
| 2023 BMW M8 | $3,543 |
| 2022 BMW M8 | $2,809 |
| 2021 BMW M8 | $2,933 |
| 2020 BMW M8 | $4,616 |
2023 BMW M8 Insurance Rates
The average annual insurance cost for a 2023 BMW M8 is $3,543. However, Capital Insurance Group offers the cheapest rates, averaging $1,330 per year.
| Insurance Provider | Average Annual Cost |
| Capital Insurance Group | $1,330 |
| Hastings Mutual Insurance Co | $2,997 |
| SECURA Insurance | $2,757 |
| Country | $4,175 |
| New Jersey Manufacturers | $4,320 |
| West Bend Mutual | $4,255 |
| Penn National | $3,682 |
| 21st Century | $3,633 |
| Pekin Insurance | $4,268 |
| Travelers | $4,014 |
2022 BMW M8 Insurance Rates
The average annual insurance cost for a 2022 BMW M8 is $2,809. However, Hastings Mutual Insurance Co offers the cheapest rates, averaging $531 per year.
| Insurance Provider | Average Annual Cost |
| Mississippi Farm Bureau | $4,186 |
| Penn National | $1,644 |
| Hastings Mutual Insurance Co | $531 |
| Western National | $1,202 |
| Travelers | $5,420 |
| Farmers | $2,799 |
| Nationwide | $4,222 |
| California Capital | $3,680 |
| American Family | $1,197 |
| Direct General Insurance | $3,206 |
Find Affordable BMW M8 Insurance Rates
2021 BMW M8 Insurance Rates
The average annual insurance cost for a 2021 BMW M8 is $2,933. However, SECURA Insurance offers the cheapest rates, averaging $1,631 per year.
| Insurance Provider | Average Annual Cost |
| Hartford | $3,293 |
| Allied | $2,230 |
| California Capital | $2,161 |
| Farm Bureau Ins of MI | $2,729 |
| Travelers | $3,709 |
| SECURA Insurance | $1,631 |
| USAA | $3,150 |
| Hastings Mutual Insurance Co | $3,729 |
| Mercury | $2,923 |
| Alliance United | $3,776 |
2020 BMW M8 Insurance Rates
The average annual insurance cost for a 2020 BMW M8 is $4,616. However, New York Central Mutual Fire offers the cheapest rates, averaging $3,183 per year.
| Insurance Provider | Average Annual Cost |
| Travelers | $3,508 |
| Hartford | $5,634 |
| New York Central Mutual Fire | $3,183 |
| Erie | $6,070 |
| 21st Century | $6,569 |
| State Farm | $4,742 |
| Mercury | $3,294 |
| Direct General Insurance | $5,073 |
| California Capital | $3,237 |
| Colorado Farm Bureau Mutual | $4,853 |
Is A BMW M8 Expensive To Insure?
The cost to insure a BMW M8 is indeed higher than the overall average for all cars. However, the actual amount you will pay for car insurance can vary based on several factors, including your age, the age of your car, where you live, and your driving history. Other factors, such as the level of coverage you choose and any discounts you may qualify for, also play a significant role in determining your insurance premiums.
Find Affordable BMW M8 Insurance Rates
Cheapest Car Insurance Companies For A BMW M8
If you’re considering a new car insurance policy for your BMW M8, you’ll likely want to know which companies offer the most affordable options. For those seeking the lowest premium, Clearcover provides a rate of $27 per month, making it the cheapest choice for a BMW M8. However, rates can vary depending on your individual driver profile, so this is just an average estimate. To find the best rates for your specific situation, it’s recommended to compare quotes from different insurers.
| Company | Average Monthly Rate |
| NationalGeneral | $35 |
| Clearcover | $27 |
| Mercury | $50 |
| TSC | $379 |
Common BMW M8 Insurance Discounts
Discounts are an excellent way to reduce your car insurance premiums. While each insurer may offer different discounts, here are a few common ones you might qualify for:
- Multi-policy: Bundling your home and auto insurance with the same provider often results in a lower rate.
- Pay annually: Paying your premium in a lump sum instead of monthly installments may make you eligible for a discount.
- Defensive driving: Completing a defensive driving course from an accredited institution could qualify you for reduced rates.
There may be additional discounts available to you, so it’s a good idea to speak with your insurance agent. They can help identify which discounts you qualify for.
Ways To Save On BMW M8 Insurance Costs
Maintaining a clean driving record is one of the most effective ways to keep your BMW M8 insurance premiums low. Traffic violations, such as speeding tickets, or being involved in accidents, can increase your rates.
For example, BMW M8 drivers with a speeding ticket typically pay around $94 per month, while those with multiple accidents may face premiums of approximately $197 per month. Avoiding such incidents can help keep your costs down.
In addition, drivers who log fewer miles annually often pay less for insurance. Since lower mileage means fewer opportunities for accidents, these drivers are considered lower-risk.
BMW M8 owners driving between 2,501 and 5,000 miles annually can expect to pay about $47 per month, while those driving over 10,000 miles per year typically pay around $37 per month.
Compare BMW M8 To Other BMW Models
Looking for other BMW model insurance costs?
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- BMW M5 Car Insurance
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Our Methodology
To calculate average car insurance costs, Insuranceopedia gathered data from thousands of quotes provided by top auto insurers. The sample profile used was for a 40-year-old male driver purchasing full-coverage insurance with the following coverage limits: $100,000 for property damage liability, $100,000 for bodily injury liability, and a $1,000 deductible. However, the rates provided in this guide may vary from your own personal quotes.
Quotes Analyzed
Brands Reviewed
Research Hours
Years Of Experience
FAQs
Do You Need Insurance Before You Can Purchase A BMW M8?
Yes, you will need to provide proof of insurance before driving your BMW M8 off the dealership lot. It’s advisable to purchase an insurance policy in advance and then inform your insurance company about the upcoming car purchase, rather than relying on insurance through the dealership.
How Can You Get The Cheapest Insurance For Your BMW M8?
The most effective way to find the lowest rates for your BMW M8 is to shop around and compare quotes from various auto insurance companies. Luckily, Insuranceopedia makes it easy to compare quotes from multiple providers directly on our website.
