If you own a BMW, expect higher than average auto insurance rates. BMW rates are typically higher than that of domestic cars and especially of standard non-luxury cars. However, as with any and all auto insurance rates, it can save you a significant amount is you shop around prior to taking out coverage.

Auto Insurance Rates and the Luxury Car

Luxury cars are always more expensive to insure than standard vehicles for a variety of reasons. They tend to have more expensive parts. They are typically faster than most cars. They usually are equipped with expensive high technology accessories and safety features. The cost of replacing a luxury car entirely due to destruction or theft is much more costly than replacing a standard vehicle. Therefore, collision and comprehensive insurance coverage will be more costly.

While BMW is considered a luxury car, it is one of the more accessible luxury cars in terms of price. You can get one for a tenth of the price of some of the more costly luxury cars. This price difference means that there are more BMWs on the market than other luxury vehicles and therefore parts are more readily available. All these facts tend to keep BMW auto insurance rates lower than other luxury cars.

The lower the cost of the BMW, the lower the cost of insurance for that vehicle. In general, it is hard to predict whether BMW insurance will be more costly than similar vehicles. For the most part BMW insurance rates are higher than comparable domestic cars and lower than most comparable foreign cars. However, this is not always the case. The price difference for insurance on a domestic car and a comparable BMW can range from a couple hundred dollars more to double the price for annual premiums.

Luckily luxury cars are also equipped with extensive safety features. Such features will often help you keep costs down. Be sure to know which ones are on your car and volunteer the information when shopping for auto insurance rates in order to get the best deal.

Shop Around for Auto Insurance Rates for Your BMW

Before going with the first auto policy you are quoted for your BMW coverage, it is wise to shop around for a variety of auto insurance rates and compare the results. With so many companies on the market competing for your business, you can save up to 50% on your premium, just be taking the time to shop around.

Find the best auto insurance rates for your BMW today!