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bmw insurance quote.
Get your free
bmw insurance quote.
Get free & accurate quotes from Canada’s top insurance providers and find the cheapest car insurance rate for your vehicle.
Get free & accurate quotes from Canada’s top insurance providers and find the cheapest car insurance rate for your vehicle.
Comparing rates from Canada's leading Insurance Providers
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Car Insurance Facts for Luxury Cars

Auto insurance for high-end, or luxury cars,  is generally more expensive than standard car insurance. The sticker price of the vehicle will impact your insurance rates - they say, on average, it’s about 20% higher to insure a luxury car.

It’s no secret that expensive cars are more costly to replace, repair and maintain. Import cars are more complex to fix and certain models are only manufactured in limited numbers, which can also increase the price of parts. High-value cars are also commonly targeted for theft, which also increases the rate you pay.

If you own a car worth over $100K, you should have luxury car insurance to protect your investment and Surex can help with that. You don’t want to have a standard auto insurance policy. Talk to an advisor today to get your set up and ready to hit the road!

FAQ’s about BMW car insurance

BMW is one of the largest, most recognized car brands in the world. The German manufacturer is headquartered in Munch, Bavaria, Germany. BMW was originally a company that manufactured airplane engines and worked under the name - Bayerische Flugzeuqwerke (or BFW). They made some key advancements in the industry before turning to the auto industry.

In 1917 when they made the switch to the auto industry, they changed their name to BMW (Bayerische Motoren Werke AG). The iconic logo represents the blue and white pattern on the flag of Bavaria, where the company was born. 

BMW vehicles are known for their luxury, high-level performance, and reliability, as well as being highly regarded for their technological innovation. They have been making luxury cars since 1928 and offer a range of models from sport coupes and convertibles, to family sedans and sport utility vehicles. Known as a luxury manufacturer, their vehicles are expensive to buy, repair and insure. But that’s where Surex comes in. We can help you find the right insurance for your car!

 

Yes, BMW cars generally cost more to insure. It’s hard to put an exact number of what you will pay for your insurance because it largely depends on the type of vehicle you drive. Insurance providers look at the year and the model you choose to buy, your driving history, the number of kilometers you drive each year, and where you live.

The average cost of car insurance for BMW is $1,498 in Canada, approximately $124 per month. But, everyone has a unique situation so the cost can differ. Talk to an insurance advisor to find out what coverage you need and what it will cost you to get insurance for your car.

German-manufactured automobiles are known to have specific parts, they can be harder to get and take longer to become available and, as a luxury car the repairs can be more expensive

Yes, BMWs are easily the most expensive car brand to maintain. But it’s important to keep up with the regular maintenance of your car to keep it running smoothly. On average the maintenance cost over 10 years is approximately $18,000 with Mercedes-Benz coming in second place with $13,000 over a 10-year period. Massive maintenance costs are not uncommon on German-made cars since these luxury vehicles use expensive, high-end parts.

Here are some of the main factors that can affect your rates :

  • Vehicle Cost: The starting price on a more economical model starts at approximately $40,000 but many of the other models can range from $60-$100,000 price range. The sticker price can impact your rate.
  • Theft: It’s common knowledge that luxury vehicles are a target for theft, in fact, the BMW X6 has appeared on the most stolen list in Ontario numerous times. This theft risk can impact your rate.
  • Repair Costs: It is well known that repairs and maintenance for BMW are expensive. They are well designed and use precision custom parts, making them more complex to fix and some parts may need to be imported. Higher repair costs will increase your costs.
  • Safety features: BMW is known for offering the most safety features, and this is one reason that drivers choose this brand. All vehicles have optional safety features which can help to lower your insurance rate.

There are many things you can do to help lower your insurance rate. For example, you can bundle your home + auto insurance to help save some money. Talk to a Surex advisor to see how you can save today!

Here are some more tips to help you save:

  • Shop Around: The most effective way to save is to compare your insurance options. That is one thing that Surex always automatically does to make sure you get the best rate possible.
  • Stay claims, accident, and ticket-free. Of course, it’s always important to drive safely, but by having a clean driving record you can usually qualify for discounts to help keep your premiums down.
  • Bundle your services: By combining your home or tenant insurance with your auto insurance policy, with the same provider, you can take advantage of the discounts offered to help save you money. 

BMW models are renowned for making vehicles that are safe. Some of the safety features include side airbags, antilock brakes, traction control, electronic stability control, ABS and braking assistance, and child safety locks.

Since auto insurance is government-standardized, there is really no difference in coverage between regular to high-end cars. There are limited carriers who will write them though. Not many will write vehicles over 150K and others won’t go over 100K. 

Carriers that do work with high-end cars require higher deductibles, higher limits on rental car coverage, and roadside assistance coverage. For a 100K+ car, the collision and comprehensive deductible required are normally between $2,500 - $5,000.

So, like everything else you get with a luxury car from sticker price to maintenance, expect your insurance to also be more expensive. Our advisors can help assist you with setting up your coverage. Go online today!

Lowest Quotes for these BMW Vehicles *
* These sample quotes are based on a 45-year-old female driver, with a clean driving history, has driving school certification and has always had insurance while licensed (over 15 years). Rates based on Q3 2023 data.

Model

Location

Postal Code

LOWEST RATE (monthly)

CARRIER

2020 BMW 330i xDRIVE 4DR

Ontario

L7R 3N2

$158

Image
Aviva

2020 BMW 330i xDRIVE 4DR

Alberta

T5T 4J2

$369

Image
Intact

2020 BMW 330i xDRIVE 4DR

NOVA SCOTIA

B2H 2J6

$154

Image
My Drive

** Intact

2020 BMW 530e xDRIVE 4DR

Ontario

L7R 3N2

$166

Image
CAA

2020 BMW 530e xDRIVE 4DR

Alberta

T5T 4J2

$449

Image
Intact

2020 BMW 530e xDRIVE 4DR

NOVA SCOTIA

B2H 2J6

$174

Image
My Drive

** Intact

2020 BMW 750i xDRIVE 4DR

Ontario

L7R 3N2

$211

Image
CAA

2020 BMW 750i xDRIVE 4DR

Alberta

T5T 4J2

$658

Image
Intact

2020 BMW 750i xDRIVE 4DR

NOVA SCOTIA

B2H 2J6

$243

Image
My Drive

** Intact

2020 BMW X3 30e 4DR

Ontario

L7R 3N2

$129

Image
CAA

2020 BMW X3 30e 4DR

Alberta

T5T 4J2

$393

Image
Intact

2020 BMW X3 30e 4DR

NOVA SCOTIA

B2H 2J6

$131

Image
My Drive

** Intact

2020 BMW X7 40i 4DR

Ontario

L7R 3N2

$157

Image
CAA

2020 BMW X7 40i 4DR

Alberta

T5T 4J2

$393

Image
Intact

2020 BMW X7 40i 4DR

NOVA SCOTIA

B2H 2J6

$168

Image
My Drive

** Intact

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