- BMW M240i insurance costs an average of $2,312 per year, or around $193 per month, for full coverage.
- Car insurance rates for the BMW M240i range from $2,292 to $2,334 annually for an average driver, depending on trim level.
- The M240i ranks 17th out of 18 vehicles in the small luxury car class for insurance affordability.
How much does BMW M240i insurance cost?
Ranked 17th out of 18 vehicles in the small luxury car class, BMW M240i car insurance costs around $2,312 a year, or $193 monthly. With the average small luxury car costing $2,088 a year to insure, the BMW M240i could cost an estimated $224 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 $1,614 per year for a driver age 60 with high policy deductibles to the highest cost of $5,382 annually for a driver age 20 with $250 deductibles.
From a trim level perspective, car insurance rates for a 2024 BMW M240i range from $2,292 to $2,334. The next table shows the average annual and semi-annual policy costs, including a monthly budget amount, for each BMW M240i package and trim.
| 2024 BMW M240i Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Coupe | $2,292 | $191 |
| xDrive Coupe | $2,334 | $195 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Updated February 23, 2024
The rate table below shows average BMW M240i full coverage insurance policy costs for the 2017-2024 model years. Annual prices range from $1,670 for a 2017 model to $2,312 for a 2024 M240i.
| Model Year and Vehicle | Annual Premium | Cost Per Month |
|---|---|---|
| 2024 BMW M240i | $2,312 | $193 |
| 2023 BMW M240i | $2,248 | $187 |
| 2022 BMW M240i | $2,142 | $179 |
| 2021 BMW M240i | $2,042 | $170 |
| 2020 BMW M240i | $1,978 | $165 |
| 2019 BMW M240i | $1,854 | $155 |
| 2018 BMW M240i | $1,750 | $146 |
| 2017 BMW M240i | $1,670 | $139 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all BMW M240i trim levels for each model year. Updated February 23, 2024
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 $316 more per year than the Lexus IS 350, $326 more per year than the Genesis G70, and $174 more per year than the Alfa Romeo Giulia.
The BMW M240i ranks 17th out of 18 total comparison vehicles in the small luxury car category for most affordable auto insurance rates. The M240i costs an estimated $2,312 per year for a car insurance policy with full coverage and the segment average cost is $2,088 per year, a difference of $224 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 18 models in the small luxury car category.
| Rank | Make and Model | Annual Premium | Difference |
|---|---|---|---|
| 1 | Acura Integra | $1,688 | -$624 |
| 2 | BMW 330i | $1,932 | -$380 |
| 3 | Acura TLX | $1,962 | -$350 |
| 4 | Cadillac CT4 | $1,982 | -$330 |
| 5 | Genesis G70 | $1,986 | -$326 |
| 6 | Lexus IS 350 | $1,996 | -$316 |
| 7 | Lexus RC 350 | $2,058 | -$254 |
| 8 | BMW 330e | $2,060 | -$252 |
| 9 | BMW 228i | $2,064 | -$248 |
| 10 | BMW 230i | $2,080 | -$232 |
| 11 | Audi S3 | $2,128 | -$184 |
| 12 | Alfa Romeo Giulia | $2,138 | -$174 |
| 13 | Audi A4 | $2,184 | -$128 |
| 14 | BMW M235i | $2,196 | -$116 |
| 15 | Volvo S60 | $2,226 | -$86 |
| 16 | Audi RS 3 | $2,268 | -$44 |
| 17 | BMW M240i | $2,312 | -- |
| 18 | BMW M340i | $2,318 | $6 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all trim levels for each vehicle from the 2024 model year. Updated February 22, 2024
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 $372 per year for a 40-year-old driver and $718 per year for a 20-year-old driver.
- Low physical damage deductibles increases cost. Decreasing deductibles from $500 to $250 could cost an additional $388 per year for a 40-year-old driver and $758 per year for a 20-year-old driver.
- Insurance for teenage drivers is expensive. Average rates for full coverage M240i insurance costs $8,150 per year for a 16-year-old driver, $7,901 per year for a 17-year-old driver, $7,089 per year for an 18-year-old driver, and $6,461 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 $363 per year versus a slightly lower credit rating between 670-739. Conversely, a less-than-good credit score could cost as much as $421 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 $392 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 $610 per year. Serious misdemeanors like DUI or reckless driving could raise rates by an additional $2,124 or more.