I’m 21 and about to get my first ever BMW. It’s a 2015 328i with 50k miles super well taken care of and have been looking around for insurance quotes and all of them are $200+ full coverage. I understand I’m young but is there anyone out there that happens to know of a car insurance that might be on the cheaper side for a BMW. I know it’s going to be somewhat expensive for a vehicle like this but I can’t process paying almost the same amount for insurance as the vehicle itself monthly. Any help is wonderful……
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Maybe it works differently in the states but it’s not about how old you are but rather how long you’ve had your license. I’m in my early 20s and drive a bmw. My insurance is 12,5eur/month or around 15 dollars that is. Once i hit the 5-year mark for my license, it dropped a lot.
$200/m sounds reasonable for full coverage. Your circumstances probably won’t allow for a much cheaper policy. Find a good local broker who can shop your policy and be prepared to pay up-front for an additional discount - I get a ~12% discount by doing single-pay for an annual policy.
Alot of times there are local facebook BMW groups, and always 1 insurance salesman that everyone uses because he can get them awesome deals. might be an approach you want to try.
Like others have said You’re 21 so “cheap” may not happen. 328i is still considered a “sports car” by Insurance.
Might try that
Costco insurance for a executive member/employee with no accidents was still $230 on my first. $200 is more than reasonable
As others have mentioned, your age and the make model of car have a significant impact on your insurance rate. That being said, shop around. Then, shop around some more. Different companies have different rates and different pools. You just never know which one you’re going to end up in. For example, years ago I switched from a Subaru STI to a Volkswagen GTI. My insurance rate nearly doubled. Then, I shopped around in my insurance was only about 70% of what it was on the Subaru. It just made no sense…
Second example, we bought my wife a Tesla for her 130 mi commute. Insurance rates on those are atrocious. Roughly $2,600 to $3,000 per year. Then, we found another major insurance company that was willing to ensure the same car for $1,200… Same coverage, major insurance company, we just had to find them by shopping around.
$200/m is great
