BMW car insurance
So you’ve joined the ‘proud-owner-of-a-BMW’ club! You’re undoubtedly eager to get your luxury wheels covered by the right insurance. Well, it just so happens that Mozo has collected some interesting statistics on BMWs, including how much insurance could cost you and how to select a suitable deal. Keep reading to find out more.
How much does it cost to insure a BMW?
For the 2020 Mozo Experts Choice Car Insurance Awards, our research team looked at how much it might cost to insure a BMW 3, BMW X5, BMW X3 and a BMW 1. Specifically, our experts used demographic information from the Australian Bureau of Statistics to come up with a range of sample quotes for annual premium pricing, representing 80% of customer scenarios.
In total, we gathered over 6,000 car insurance quotes for BMWs and after crunching all the numbers worked out that annual car insurance premiums could range from $684 to around $2,648.
What might impact my BMW insurance costs?
As you can see, premiums can differ quite a bit due to location, gender, age and driving experience.
Some factors that could affect how much you pay in insurance for your BMW are:
- Age. Generally drivers under 25 are charged higher premiums. This is pretty much because they are likely to have less experience on the roads. The proof is in the data too, as our research team found that annual insurance premium ranges for BMW-owners over 55 were lower than for 16 to 25-year-olds. Between $504 and $1,925 compared to between $822 and $3,935.
- Gender. The statistics gathered show that the maximum annual premium men might pay to insure a BMW could be around $800 more than the maximum annual premium a woman might pay ($2,922 compared to $2,191).
- Postcode. The car theft rate where you live could also have some bearing on what you pay. For instance, we found that the maximum insurance BMW-drivers will pay in Victoria is around $3,356, compared to $1,715 in Tasmania.
- Car colour. You might not think that car colour would affect your insurance premium, but it can. This is because some car colours have a higher car theft rate, while some others are more likely to be involved in an accident, due to lower visibility.
These are just a few factors that may influence how high or low your insurance premium winds up being. There are plenty of others including your personal driving record, what excess you choose and where you park your wheels at night.
So, who are BMW 3 drivers?
In short, our data shows that the owner of a BMW 3 is most likely to be:
- a male
- a Queenslander
- opt for a white model
- be aged between 45 and 55-years-old
What insurance can I get for my BMW?
At the very least you will require CTP insurance for your Beamer. That’s compulsory third party insurance. It’s a legal requirement to be able to drive in Australia, but it will not provide cover for your actual car, meaning your vehicle will not be insured in case of theft or an accident.
The next level up from that is third party property insurance. Again, this won’t provide cover for your own car but it will cover any damage you may do to someone else’s. It may also provide some level of protection if your car is damaged by an uninsured driver. One up from third party property is third party fire and theft insurance, which provides additional cover in the event of fire or theft.
Read our guide to third party car insurance, for more information.
Lastly, the highest level of cover you can get for your BMW is comprehensive car insurance. This will be the priciest, but it will also provide the most protection in case something goes wrong, including damage from a collision, as well as cover for any damage you may be responsible for to someone else’s wheels.
Benefits offered will vary from policy to policy, but generally you will find that cover for personal items, baby gear, a hire car following an accident, natural disasters and vandalism will usually be included. Providers can also give you a number of optional extras to choose from if you want to pad out your policy, including roadside assistance, excess-free windscreen cover and hire car cover.
Comparing insurance for your BMW
Besides the level of cover you opt for, you may also find that quotes vary depending on the provider. This is why we recommend comparing plans from a number of different insurance providers before committing to anything. You can compare quotes via Mozo’s compare comprehensive car insurance page.
On this page you can see a snapshot of a number of comprehensive car insurance policies on offer in Australia right now, giving you a rundown of the coverage offered, the range of excess, whether choice of repairer is included and whether or not you can pay premiums monthly. You’ll also be able to see which providers offer discounts on policies.
Read our full guide to car insurance discounts, to find out more about how you can get money off your cover. Or if you’re keen to get the ball rolling and get insurance for your BMW, check out the policies on offer below.
Compare comprehensive car insurance - rates updated daily
Gold Comprehensive Car Insurance
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $550 - $1,900 (varies By State)
- Agreed or market value
- Agreed Or Market
Available discounts
- No Claim Discount
- Online Discount Up To 15%
Gold Comprehensive Car Insurance
Get award winning Car Insurance. Save 15% ^ on your first year’s premium when you purchase a new policy online. Budget Direct offers tailor-made cover, new-for-old replacement, 24/7 claims, a highly-rated claims service, and get a hire car following a theft.
- New car if written off
- Yes - within 2 years or 40,000 kilometres of original registration, whichever comes first
- Rental car after theft
- Yes - Up to 14 days, max $1,000 total.
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Up to 14 days for at fault accidents.
- Windscreen cover
- Yes - standard excess. Option to reduce windscreen excess to $40 on every windscreen claim for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- $600 for drivers under 21, $500 for drivers under 24, $600 for unlisted drivers, $500 for inexperienced drivers.
- Roadside assistance
- Optional Extra
- Other benefits
- Existing Budget Direct memebers get a $100 eGift Card when you purchase a new Pet Insurance policy with code "ECGIFT"
- Other restrictions
- -
- States where offered
- SA VIC TAS NSW ACT QLD WA
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Budget Direct Gold Comprehensive Car Insurance
Comprehensive Car Insurance
- Monthly premiums
- Yes
- Choice of repairer
- No
- Choice of excess
- $800 Flat Excess Fee
- Agreed or market value
- Agreed
Available discounts
Comprehensive Car Insurance
ROLLiN’ put their customers in the driver’s seat by offering great value comprehensive car insurance with no additional excess for young drivers. Zero cancellation fees, 24/7 claims support via phone and a policy paid monthly. Plus, you can list multiple cars and drivers under the one policy, as long as they fit the underwriting criteria
- New car if written off
- Yes - within 15,000km of original registration
- Rental car after theft
- Yes - Up to 21 days, max $80 per day after a covered event
- Rental car after accident
- Yes - Up to 21 days, max $80 per day after a covered event
- Windscreen cover
- Yes - $0 windscreen excess
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- No additional excess for young drivers. $3,000 for unlisted drivers
- Roadside assistance
- No
- Other benefits
- Optional benefit to boost the Single Car Value by 15%, it will be shown on your Insurance Certificate
- Other restrictions
- -
- States where offered
- SA VIC NT TAS NSW ACT QLD WA
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about ROLLiN' Comprehensive Car Insurance
Comprehensive Car Insurance
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $500 - $2,200
- Agreed or market value
- Agreed Or Market
Available discounts
- Online Discount $75
Comprehensive Car Insurance
Australia Post Comprehensive Car Insurance offers a broad range of coverage and includes cover for anyone who drives your vehicle. It also covers new car replacement if your recently purchased brand new car is written off within the first three years (provided it has travelled less than 60,000km). Save $75 on your first year's premium when you purchase Comprehensive Car Insurance online. T&C’s apply.
- New car if written off
- Yes - within 3 years and 60,000 km of original registration
- Rental car after theft
- Yes - Up to 14 days.
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Up to 14 days.
- Windscreen cover
- Yes - standard excess ($0 excess for repair only). Option to reduce windscreen replacement excess to $0 for an additional premium.
- Modifications
- Automatically covered.
- Young driver excess imposed
- $600 for listed drivers under 25, $1,600 for unlisted drivers under 25.
- Roadside assistance
- No
- Other benefits
- -
- Other restrictions
- -
- States where offered
- SA VIC TAS NSW ACT QLD WA
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Australia Post Comprehensive Car Insurance
Comprehensive Car Insurance
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $400 - $2,500
- Agreed or market value
- Agreed Or Market
Available discounts
Comprehensive Car Insurance
Youi like to get to know you from the very first conversation, which provides you with the opportunity to find comprehensive car insurance cover that could better suit your lifestyle and your needs. Because we’re all individuals, so we all use our cars differently from day-to-day. Youi is car insurance that’s a bit more you-shaped.
- New car if written off
- Yes - within 2 years and a listed driver is the first registered owner
- Rental car after theft
- Yes - Up to 14 days.
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Up to 14 days.
- Windscreen cover
- Yes - standard excess. Option to reduce windscreen excess to $50 for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- Unlisted and aged 25 and over: $700, Unlisted and aged under 25: $2,000, Listed and aged under 25: $600
- Roadside assistance
- Yes
- Other benefits
- -
- Other restrictions
- -
- States where offered
- SA VIC TAS NSW ACT QLD WA
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about Youi Comprehensive Car Insurance
* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
^See information about the Mozo Experts Choice Car Insurance Awards