- BMW 230i car insurance costs $1,984 per year on average, or around $165 per month for full coverage.
- The cheapest BMW 230i insurance is on the base two-door coupe at $1,960 per year, or about $163 per month.
- The BMW 230i is one of the cheaper small luxury cars to insure, costing $10 less per year on average as compared to the rest of the vehicles in the 2023 model year segment.
How much does BMW 230i car insurance cost?
Car insurance for a BMW 230i costs an average of $1,984 per year for a policy with full coverage. Average monthly insurance cost for a 230i ranges from $163 to $167, depending on the trim level of the model being insured.
With the average compact luxury car costing $1,994 a year to insure, expect to pay around $10 less per year for BMW 230i insurance when compared to the segment average.
Collision insurance costs about $902 a year, comprehensive costs $498, and the remaining liability and medical payments insurance costs an estimated $584.
The following chart shows average BMW 230i car insurance rates using different driver ages and risk profiles.
Which BMW 230i has the cheapest insurance rates?
The cheapest model of BMW 230i to insure is the base Coupe at $1,960 per year, or about $163 per month. The most expensive model to insure is the xDrive Coupe, costing $48 more per year.
The next table shows average annual and semi-annual auto insurance rates, including a monthly budget estimate, for each 2023 BMW 230i package and trim level.
| BMW 230i Trim Level | Annual Policy | Six-Month Policy | Per Month |
|---|---|---|---|
| Coupe | $1,960 | $980 | $163 |
| xDrive Coupe | $2,008 | $1,004 | $167 |
Is BMW 230i insurance expensive?
The BMW 230i ranks eighth out of 19 total comparison vehicles in the 2023 compact luxury car class. The 230i costs an average of $1,984 per year to insure for full coverage, while the segment average cost is $1,994 annually, a difference of $10 per year.
When compared to the top-selling compact luxury car models, insurance for a BMW 230i costs $146 more per year than the BMW 330i, $14 less than the Mercedes-Benz C300, $40 less than the Volvo S60, and $116 more than the Acura TLX.
The chart below shows how BMW 230i car insurance cost compares to other best-selling models in the segment. An expanded table after the chart ranks average insurance rates for the entire 19 vehicle compact luxury car segment for the 2023 model year. It includes a difference column which shows how much higher or lower each model’s insurance cost is compared to the 230i.
| Rank | Make/Model | Insurance Cost | Difference |
|---|---|---|---|
| 1 | Acura Integra | $1,624 | -$360 |
| 2 | BMW 330i | $1,838 | -$146 |
| 3 | Acura TLX | $1,868 | -$116 |
| 4 | Cadillac CT4 | $1,890 | -$94 |
| 5 | Genesis G70 | $1,928 | -$56 |
| 6 | BMW 330e | $1,960 | -$24 |
| 7 | BMW 228i | $1,970 | -$14 |
| 8 | BMW 230i | $1,984 | -- |
| 9 | Mercedes-Benz C300 | $1,998 | $14 |
| 10 | Audi A4 | $2,006 | $22 |
| 11 | Lexus RC 350 | $2,010 | $26 |
| 12 | Audi S3 | $2,020 | $36 |
| 13 | Volvo S60 | $2,024 | $40 |
| 14 | Alfa Romeo Giulia | $2,044 | $60 |
| 15 | BMW M235i | $2,050 | $66 |
| 16 | Lexus IS 350 | $2,084 | $100 |
| 17 | Audi RS 3 | $2,162 | $178 |
| 18 | BMW M240i | $2,208 | $224 |
| 19 | BMW M340i | $2,212 | $228 |
How much is insurance on a used 230i?
Insuring a 2017 model year 230i instead of a new 2023 model could save around $468 per year. A 2019 model would be around $328 cheaper each year to insure.
The table below shows typical insurance rates for a BMW 230i for the 2017 to 2023 model years. In this example, insurance costs range from the least expensive rate of $1,516 for a 2017 BMW 230i to a maximum value of $1,984 for a 2023 model year.
| Model Year and Vehicle | Annual Rate | 6-month Rate | Monthly Rate |
|---|---|---|---|
| 2023 BMW 230i | $1,984 | $992 | $165 |
| 2022 BMW 230i | $1,848 | $924 | $154 |
| 2021 BMW 230i | $1,846 | $923 | $154 |
| 2020 BMW 230i | $1,818 | $909 | $152 |
| 2019 BMW 230i | $1,656 | $828 | $138 |
| 2018 BMW 230i | $1,608 | $804 | $134 |
| 2017 BMW 230i | $1,516 | $758 | $126 |
Additional BMW 230i insurance rates and discounts
Some additional insurance rates for different situations like high-risk drivers and after at-fault accidents are listed below. Also included are some policy discounts to watch for when buying or renewing your next policy.
- Your employer could save you money. The vast majority of car insurance companies offer discounts for specific professions like architects, engineers, farmers, lawyers, doctors, and other occupations. If you can get this discount applied to your policy, you could save between $60 and $183 on your BMW 230i insurance bill, depending on the level of coverage purchased.
- BMW 230i insurance is expensive for high-risk drivers. For a 50-year-old driver, having too many accidents or violations can potentially increase rates by $2,316 or more per year.
- BMW 230i insurance rates for teenagers are high. Average rates for full coverage 230i insurance costs $7,030 per year for a 16-year-old driver, $6,586 per year for a 17-year-old driver, and $6,160 per year for an 18-year-old driver.
- Gender and age affect the rate you pay. For a 2023 BMW 230i, a 20-year-old male receives an average rate of $3,940 per year, while a 20-year-old woman will pay $2,922, a difference of $1,018 per year in favor of the women by a long shot. But by age 50, male driver rates are $1,806 and female driver rates are $1,768, a difference of only $38.
- As age goes up, auto insurance cost goes down. The difference in insurance rates for a 2023 230i between a 60-year-old driver ($1,770 per year) and a 30-year-old driver ($2,092 per year) is $322, or a savings of 16.7%.
- Be a careful driver and pay less for insurance. Too frequent at-fault accidents can raise rates, possibly as much as $918 per year for a 30-year-old driver and even as much as $626 per year for a 50-year-old driver.
- Obey the law to get lower policy cost. To get the lowest-priced 230i insurance rates, it pays to follow the law. In fact, just a couple traffic violations can potentially raise insurance cost by at least $518 per year.
