- BMW 230i car insurance costs $1,664 per year on average, or around $139 per month for full coverage.
- The cheapest BMW 230i insurance is on the base two-door coupe at $1,642 per year, or about $137 per month.
- The BMW 230i is one of the cheaper small luxury cars to insure, costing $66 less per year on average as compared to the rest of the vehicles in the 2022 model year segment.
How much does BMW 230i car insurance cost?
Car insurance for a BMW 230i costs an average of $1,664 per year for a policy with full coverage. Average monthly insurance cost for a 230i ranges from $137 to $140, depending on the trim level of the model being insured.
With the average compact luxury car costing $1,730 a year to insure, expect to pay around $66 less per year for BMW 230i insurance when compared to the segment average.
Collision insurance costs about $790 a year, comprehensive costs $438, and the remaining liability and medical payments insurance costs an estimated $436.
The following chart shows average BMW 230i car insurance rates using different driver ages and risk profiles.
|Driver Risk Profile||Annual Rate||Monthly Rate|
|High Risk Driver Age 30||$3,760||$313|
|Safe Driver Age 20||$3,294||$275|
|At-fault Accidents Age 40||$2,328||$194|
|Low Deductibles Age 40||$2,202||$184|
|Safe Driver Age 30||$1,762||$147|
|Safe Driver Age 40||$1,664||$139|
|Safe Driver Age 50||$1,512||$126|
|Safe Driver Age 60||$1,486||$124|
|High Deductibles Age 40||$1,384||$115|
|Discount Rate Age 40||$1,382||$115|
Which BMW 230i has the cheapest insurance rates?
The cheapest model of BMW 230i to insure is the base Coupe at $1,642 per year, or about $137 per month. The most expensive model to insure is the xDrive Coupe, costing $42 more per year.
The next table shows average annual and semi-annual auto insurance rates, including a monthly budget estimate, for each 2022 BMW 230i package and trim level.
|BMW 230i Trim Level||Annual Policy||6-month Policy||Per Month|
Is BMW 230i insurance expensive?
The BMW 230i ranks #7 out of 19 total comparison vehicles in the 2022 compact luxury car class. The 230i costs an average of $1,664 per year to insure for full coverage, while the segment average cost is $1,730 annually, a difference of $66 per year.
When compared to the top-selling compact luxury car models, insurance for a BMW 230i costs $52 more per year than the BMW 330i, $150 less than the Mercedes-Benz C300, $26 more than the Volvo S60, and $44 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 2022 model year. It includes a difference column which shows how much higher or lower each model’s insurance cost is compared to the 230i.
|8||Alfa Romeo Giulia||$1,692||$28|
|10||Lexus RC 350||$1,698||$34|
|16||Audi RS 3||$1,856||$192|
|18||Lexus IS 350||$1,898||$234|
How much is insurance on a used 230i?
Insuring a 2017 model year 230i instead of a new 2022 model could save around $274 per year. A 2019 model would be around $168 cheaper each year to insure.
The table below shows typical insurance rates for a BMW 230i for the 2017 to 2022 model years. In this example, insurance costs range from the least expensive rate of $1,390 for a 2017 BMW 230i to a maximum value of $1,664 for a 2022 model year.
|Model Year and Vehicle||Annual Rate||6-month Rate||Monthly Rate|
|2022 BMW 230i||$1,664||$832||$139|
|2021 BMW 230i||$1,654||$827||$138|
|2020 BMW 230i||$1,620||$810||$135|
|2019 BMW 230i||$1,496||$748||$125|
|2018 BMW 230i||$1,454||$727||$121|
|2017 BMW 230i||$1,390||$695||$116|
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 $50 and $159 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 $1,926 or more per year.
- BMW 230i insurance rates for teenagers are high. Average rates for full coverage 230i insurance costs $5,794 per year for a 16-year-old driver, $5,454 per year for a 17-year-old driver, and $5,108 per year for a 18-year-old driver.
- Gender and age affect the rate you pay. For a 2022 BMW 230i, a 20-year-old male receives an average rate of $3,294 per year, while a 20-year-old woman will pay $2,442, a difference of $852 per year in favor of the women by a long shot. But by age 50, male driver rates are $1,512 and female driver rates are $1,482, a difference of only $30.
- As age goes up, auto insurance cost goes down. The difference in insurance rates for a 2022 230i between a 60-year-old driver ($1,486 per year) and a 30-year-old driver ($1,762 per year) is $276, or a savings of 15.7%.
- Be a careful driver and pay less for insurance. Too frequent at-fault accidents can raise rates, possibly as much as $760 per year for a 30-year-old driver and even as much as $512 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 $428 per year.