BMW Car Insurance

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Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated on July 13, 2023

Visit author page
Picture of By <span>Aren Mirzaian</span>
By Aren Mirzaian

Updated July 13, 2023

Visit author page

2 minute read

Article Contents

BMW Auto Insurance

BMW cars are often associated with quality and luxury, and a hefty price-tag. Thus, BMW cars are difficult to insure, as many insurers know the actual cost of replacing or repairing a BMW. The cars are notoriously difficult to work on, as there are lots of tricky aspects to their engine design. Despite this, they are trendy and often viewed as a status symbol.

A History of BMW

Bavarian Motor Works (BMW) was established in 1916 by four Bavarian engineers. It was initially named Rapp Motorenwerke, as it began as an aircraft manufacturing firm. This firm restructured in 1917 and stopped producing airplane engines in 1918 (due to the Versailles Armistice Treaty).

The firm started producing motorcycles in 1923 and automobiles in 1929. The first car produced by BMW was known as the Dixi, a design based on the Austin 7. BMW returned to its roots of aircraft production during the Second World War. After the war, BMW did not produce motorcycles or automobiles again until 1950. The company then produced a wide range of cars in the 1950s, including sedans, coupes, and convertibles.

Unfortunately, none of the cars BMW made at this point sold particularly well. It was only when they released the Neue Klasse line of models in the 1960s that BMW established its reputation as a premier automaker. This new class of cars eventually included the iconic 5 Series and 3 Series cars. The M-division was started in the late 1970s and produced the BMW M1 in conjunction with Lamborghini.

In 1994, BMW bought the British-based Rover Group, which included Rover, Mini, MG, and Land Rover. However, this was not a profitable move, and BMW sold MG, Land Rover, and Rover to various companies. The only rights it kept was to the Mini, and it launched the new line of Mini vehicles in 2001 with great success.

In order to take advantage of the growing electric vehicle market, BMW launched the i-range in 2011. The compact i3 was a huge hit and became the third best-selling all-electric car in the world. BMW has moved from success to success since the 1970s and shows no signs of slowing down in the future.

Average Insurance Rates for BMW Vehicles in Canada

Insurance companies calculate rates on an individual basis. Car models (and brands) are only one small factor in this calculation. Other significant factors include driver age, driver history, and location.

The average insurance for BMWs in Canada for a 35-year old male varies between $907 and $2,191, depending on the location. Quebec and Ottawa have cheaper BMW insurance, while Richmond Hill, Markham, and Vaughan lean toward the more expensive side.

Most Popular BMW Vehicles

The most popular modern BMW vehicle is the BMW 328i. It has the right mix of affordability and luxury that conservative car buyers love. It offers a great entry point into the BMW range and is often the first BMW that enthusiasts buy.

While the BMW 328i is the most common model, there are several other models that are extremely popular. The BMW i3 and i8 are widespread amongst people who want an eco-friendly drive combined with BMW luxury.

The BMW R46 M3 is one of the most beloved M3 models ever produced. Many car enthusiasts love spending their afternoons tinkering with this naturally aspirated 3.2l inline-six engine.

The Alpina B20 Biturbo is a collector’s dream. It is a special edition of the BMW E34 5-Series that features a bi-turbo engine. It was produced from 1989 to 1994 and remains one of the most popular classic BMWs of all time.

Do BMW’s Have a Good Safety Rating?

Yes. The latest 2019 BMW models have received excellent grades from both the IIHS and NHTAS. The 2019 BMW 3 Series has received the IIHS Top Pick Safety Plus rating, which means that it has gone above and beyond federal safety standards. Three other BMW models also received the Top Safety Pick Plus rating in 2019. These include the 2019 5 Series, X3, and X5 models. The X2 received the second-best Top Safety Pick, narrowly missing out on the very top safety rating.

Compare & Save on Car Insurance Today!

If you love your BMW, price is no object when it comes to insuring your car. This doesn’t mean you should just accept the first quote you get, though. If you use our MyChoice site, you’ll get quotes from at least three different car insurance companies. We provide all the information you need to make an informed decision. Not only will you get monthly rates, but you’ll also get information on limits, deductibles, and everything else you need to make the best BMW insurance choice.

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