BMW i8 Car Insurance Cost

To insure a BMW i8, the annual cost is approximately $1,054 through Hanover. 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.

min read
Updated: 02 April 2024
Written by
Bob Phillips
On this page Open

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, Hanover provides the most competitive price, averaging $1,054 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
Hanover $1,054
Titan $1,107
Electric $1,220
American National P&C $1,818
Utica National Ins Group $2,085
North Carolina Farm Bureau $2,357
GMAC Insurance Group $2,725
California Capital $3,152
Penn National $3,315
Hastings Mutual Insurance Co $3,348

2019 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Penn National $2,079
SECURA Insurance $2,120
Chubb $2,416
Country $2,588
California Capital $2,611
Direct Auto $2,859
Hastings Mutual Insurance Co $3,037
Erie $3,488
Rural Mutual Insurance $3,530
Auto-Owners Insurance Co $3,565

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
Direct Auto $1,232
Cameron Mutual Group $1,561
Texas Farm Bureau Group $1,906
ACCC Insurance Company $2,011
Hastings Mutual Insurance Co $2,184
IMT Insurance Company $2,544
American Family $2,792
Pekin Insurance $2,863
Farm Bureau Mutual (IA Group) $3,465
Auto-Owners Insurance Co $3,524

2016 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
American National P $600
Virginia Farm Bureau $1,072
Penn National $1,893
Texas Farm Bureau Group $2,005
Oregon Mutual $2,047
California Capital $2,439
Georgia Farm Bureau $2,841
Grange Mutual $2,938
Mutual Of Enumclaw $3,090
Auto Club Group $3,082

2015 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Direct Auto $1,334
Titan $1,609
Texas Farm Bureau Group $1,637
SAFECO $1,660
North Carolina Farm Bureau $2,142
Utica National Ins Group $2,117
Mississippi Farm Bureau $2,239
ACCC Insurance Company $2,322
Penn National $2,388
Farm Bureau Mutual (IA Group) $2,395

2014 BMW i8 Insurance Rates

Insurance Provider Average Annual Cost
Direct Auto $1,658
California Capital $2,715
Texas Farm Bureau Group $2,828
United Automobile Ins Group $3,693
Titan $3,785
North Carolina Farm Bureau $4,308
New Jersey Manufacturers $4,416
Allied $4,498
Travelers $4,697
Penn National $4,950

Cost of BMW i8 Car Insurance By Age

Age Good Driver Recent Accident Poor Credit
17 $16,517 $24,237 $28,366
18 $15,381 $22,604 $26,412
19 $13,601 $19,982 $23,362
20 $11,867 $17,414 $20,343
21 $9,952 $14,606 $17,094
22 $9,699 $14,221 $16,636
23 $8,472 $12,434 $14,569
24 $8,043 $11,815 $13,837
25 $6,930 $10,186 $11,917
30 $5,401 $7,961 $9,296
35 $5,064 $7,435 $8,710
40 $4,858 $7,142 $8,375
45 $4,747 $6,963 $8,135
55 $4,347 $6,404 $7,486
65 $4,547 $6,651 $7,814
75 $5,722 $8,399 $9,855

BMW i8 Car Insurance Rates By State

State Good Driver Recent Accident Poor Credit
Alabama $5,175 $7,487 $9,532
Alaska $4,259 $5,931 $5,734
Arizona $4,849 $6,970 $10,296
Arkansas $5,277 $8,321 $9,140
California $5,877 $10,414 $5,896
Colorado $5,493 $7,692 $9,751
Connecticut $7,041 $10,887 $13,842
Delaware $5,807 $7,764 $9,972
Florida $6,910 $9,570 $12,488
Hawaii $2,243 $3,080 $2,242
Idaho $3,940 $5,212 $6,313
Illinois $4,102 $6,206 $7,050
Indiana $4,224 $6,443 $7,231
Iowa $3,336 $4,593 $5,378
Kansas $4,461 $6,465 $7,548
Kentucky $6,409 $9,433 $11,130
Louisiana $8,235 $12,463 $13,504
Maine $3,101 $4,296 $6,364
Maryland $5,051 $7,321 $8,139
Massachusetts $4,033 $7,035 $4,059
Michigan $9,760 $14,865 $23,455
Minnesota $4,009 $5,354 $7,535
Mississippi $4,867 $6,922 $6,975
Missouri $4,562 $6,521 $8,578
Montana $4,654 $6,495 $7,565
Nebraska $3,917 $5,824 $6,311
Nevada $6,480 $9,602 $10,157
New Hampshire $4,488 $7,115 $9,020
New Jersey $4,972 $7,785 $10,179
New Mexico $5,076 $7,561 $7,844
New York $4,685 $5,893 $9,866
North Carolina $2,894 $4,987 $3,554
North Dakota $3,972 $6,043 $7,143
Ohio $3,540 $5,475 $5,632
Oklahoma $5,655 $8,131 $9,141
Oregon $5,153 $6,945 $8,293
Pennsylvania $4,351 $6,404 $7,461
Rhode Island $7,263 $10,640 $11,971
South Carolina $4,918 $6,835 $9,433
South Dakota $4,425 $6,358 $7,340
Tennessee $5,193 $7,640 $10,177
Texas $5,252 $7,588 $9,413
Utah $4,442 $6,226 $8,583
Vermont $3,447 $5,291 $5,571
Virginia $3,226 $4,965 $4,849
Washington $4,264 $5,790 $6,925
West Virginia $4,315 $6,179 $7,728
Wisconsin $4,305 $6,698 $7,633
Wyoming $4,027 $5,603 $5,980
Georgia $5,661 $8,451 $8,528

FAQs

Who has the cheapest car insurance for a BMW i8?

Hanover offers the most affordable car insurance for the 2020 BMW i8.

Which company offers the best car insurance for a BMW i8?

We consider Hanover to provide the best car insurance for a BMW i8, considering their combination of competitive rates, comprehensive coverage, and top-rated customer service.

Go back to top