What is BMW?
Founded in Germany over a century ago to manufacture aeroplane engines and drawing its name from Bayerische Motoren Werke (Bavarian Motor Works), BMW has now become a byword for luxury on the road. Its cars are aspirational, with high-performance engines, sumptuous interiors and slick, classic-looking exteriors. A Beemer might be the car driven by your boss, but it’s a “driving machine” you wish you could operate.
BMW used to have just three main models but has since diversified and now offers everything from luxury SUVs to executive cars. It’s also a leader in the electric car revolution, with more than half a million electric BMWs on roads around the world at the end of 2019.
Popular BMW Models
- BMW 1 Series: These subcompact executive cars are known as entry-level BMWs, with more accessible pricing. Their engines are still high-octane and known for their fuel efficiency. Insurance groups for the 1 Series range from 21 to 36 (out of 50), with annual costs for a 40-year-old driver ranging from £700 to £800.
- BMW 3 Series: Known as the car for business executives, this saloon is also sporty, as at home in the motorway fast lane as in the office car park. However, they’re also a common target for thieves, so you’ll want to make sure your insurance coverage is robust. Insurance groups for the 3 series range from 21 to 38 and insurance premiums will run a 40-year-old driver from £725 to £850 a year, on average.
- BMW M3: The high-performance version of the 3 series, the M3 is a saloon with a racing edge. It was developed by BMW’s motorsports division for full-throttle speed but also a butter-smooth ride. The high-powered engines and steep price tag—starting at £55,000—mean the M3 expensive to insure. Most models land in insurance group 45.
How to Get Cheaper BMW Car Insurance
Their supercharged engines, import status, high prices and attractiveness to thieves make BMWs more expensive to insure than most other vehicles on the road. But you can find cheap BMW insurance, particularly if you take the following steps.
- Beef up security: BMWs regularly top lists of the most commonly stolen vehicles, so you’ll want to make sure yours is locked down like a fortress. Most BMWs come with alarm systems but you can boost security even further with immobilisers and trackers. Some insurers will give you discounts for these additions. And while you might want to show your BMW off by parking it in the driveway, your insurer will be relieved to know you keep it in a locked garage and reduce your premiums.
- Get a telematics policy: Insurers may assume you’re using the engines of your BMW to the full extent of their capabilities. To reassure them you’re actually a cautious driver, no matter how many cylinders you have at your disposal, get a telematics policy. A black box will record your driving behaviour and if you accelerate slowly, take corners smoothly and stay off the roads at night, your insurer will reward you with lower premiums.
- Increase your excess: We don’t want to make assumptions about BMW owners, but if you’re driving an M3 you probably have some cash at your disposal. You can afford to kick more towards any insurance claims you’re unfortunate enough to have to make. Increase your voluntary excess and you’ll pay less in premiums.
Compare BMW Insurance
Shopping around and comparing BMW insurance quotes can help limit your costs. Money Expert makes it as effortless as BMW’s keyless entry to compare car insurance quotes from dozens of providers. Simply provide us with the following information and we’ll return a bespoke list of quotes, tailored to you and your Beemer.
- Details about your BMW, including its make, model, year, if you own it or lease it, how long you’ve had it and any modifications you’ve made to it.
- Details about how you use your BMW, including your annual mileage and where you park it during the day and night.
- Details about you, including you age, address, occupation, driving history and any claims you’ve made on your car insurance policy in the recent past.
- Type of cover you want: Tell us if you’re looking for a comprehensive, third party or third party, theft and fire policy and any additional coverage you consider a must, from breakdown cover to a courtesy car.