- BMW M240i insurance costs an average of $2,208 per year, or around $184 per month, for full coverage.
- Car insurance rates for the BMW M240i range from $2,186 to $2,228 annually for an average driver, depending on trim level.
- The M240i ranks 18th out of 19 vehicles in the small luxury car class for insurance affordability.
How much does BMW M240i insurance cost?
Ranked 18th out of 19 vehicles in the small luxury car class, BMW M240i car insurance costs around $2,208 a year, or $184 monthly. With the average small luxury car costing $1,994 a year to insure, the BMW M240i could cost an estimated $214 or more on an annual basis.
The next chart details how average BMW M240i car insurance rates can change with a variety of driver ages and physical damage deductibles. Average prices range from $1,660 per year for a driver age 60 with high policy deductibles to the highest cost of $5,082 annually for a driver age 20 with $250 deductibles.
|Driver Age||Deductible||Annual Cost||Monthly Cost|
From a trim level perspective, car insurance rates for a 2023 BMW M240i range from $2,186 to $2,228. The next table shows the average annual and semi-annual policy costs, including a monthly budget amount, for each BMW M240i package and trim.
|BMW M240i Trim Level||Annual Policy||Six-Month Policy||Per Month|
The rate table below shows average BMW M240i full coverage insurance policy costs for the 2017-2023 model years. Annual prices range from $1,688 for a 2017 model to $2,208 for a 2023 M240i.
|Model Year and Vehicle||Annual Rate||6-month Rate||Monthly Rate|
|2023 BMW M240i||$2,208||$1,104||$184|
|2022 BMW M240i||$2,100||$1,050||$175|
|2021 BMW M240i||$1,994||$997||$166|
|2020 BMW M240i||$1,962||$981||$164|
|2019 BMW M240i||$1,846||$923||$154|
|2018 BMW M240i||$1,774||$887||$148|
|2017 BMW M240i||$1,688||$844||$141|
Is BMW M240i insurance expensive?
When compared directly to some other models in the small luxury car category, car insurance prices for a BMW M240i cost $370 more per year than the BMW 330i, $210 more than the Mercedes-Benz C300, and $184 more than the Volvo S60.
The BMW M240i ranks 18th out of 19 total comparison vehicles in the small luxury car category for most affordable auto insurance rates. The M240i costs an estimated $2,208 per year for a car insurance policy with full coverage and the segment average cost is $1,994 per year, a difference of $214 per year.
The chart below shows how average BMW M240i insurance rates compare to the top 10 best-selling small luxury cars like the Acura TLX, Audi A4, and the Genesis G70. We also included a more comprehensive table following the chart that ranks average insurance rates for all 19 models in the small luxury car category.
|11||Lexus RC 350||$2,010||-$198|
|14||Alfa Romeo Giulia||$2,044||-$164|
|16||Lexus IS 350||$2,084||-$124|
|17||Audi RS 3||$2,162||-$46|
Supplementary rates and discounts
Some additional rate insights and possible ways to save on your next policy are included below.
- The higher the deductibles, the lower the cost. Raising deductibles from $500 to $1,000 could save around $350 per year for a 40-year-old driver and $676 per year for a 20-year-old driver.
- Low physical damage deductibles increases cost. Decreasing deductibles from $500 to $250 could cost an additional $362 per year for a 40-year-old driver and $714 per year for a 20-year-old driver.
- Insurance for teenage drivers is expensive. Average rates for full coverage M240i insurance costs $7,816 per year for a 16-year-old driver, $7,314 per year for a 17-year-old driver, $6,838 per year for an 18-year-old driver, and $6,198 per year for a 19-year-old driver.
- Great credit can mean great car insurance rates. Maintaining a high credit score could save up to $347 per year versus a slightly lower credit rating between 670-739. Conversely, a less-than-good credit score could cost as much as $402 more per year.
- Find cheaper rates by qualifying for policy discounts. Discounts may be available if the insured drivers belong to certain professional organizations, choose electronic billing, drive low annual mileage, insure their home and car with the same company, or many other policy discounts which could save the average driver as much as $374 per year.
- Obey the law and pay less. If you want cheap M240i insurance rates, it’s necessary to follow traffic laws. As a matter of fact, just one or two minor driving offenses have the consequences of increasing insurance rates by as much as $572 per year. Serious misdemeanors like DUI or reckless driving could raise rates by an additional $2,004 or more.