- BMW M550i insurance costs an average of $3,420 per year, or around $285 per month, for full coverage.
- Ranked 34th out of 38 midsize luxury cars, insurance for the BMW M550i costs $521 more per year than the average cost for the segment.
How much does BMW M550i insurance cost?
BMW M550i insurance rates average $3,420 annually, or $285 if paid each month. Drivers can expect to pay about $521 more per year for BMW M550i insurance as compared to the average rate for midsize luxury cars, and $1,199 more per year than the overall national average of $2,221.
The following chart shows average car insurance rates for a 2023 BMW M550i using a variety of different risk scenarios.

The next table details average BMW M550i insurance rates from the 2018 to the 2023 model years and for a range of rated driver ages.
Model Year and Vehicle | Driver Age 20 | Driver Age 40 | Driver Age 60 |
---|---|---|---|
2023 BMW M550i | $6,928 | $3,420 | $2,814 |
2022 BMW M550i | $6,706 | $3,282 | $2,700 |
2021 BMW M550i | $6,590 | $3,220 | $2,648 |
2020 BMW M550i | $6,364 | $3,110 | $2,560 |
2019 BMW M550i | $5,572 | $2,726 | $2,242 |
2018 BMW M550i | $5,264 | $2,582 | $2,126 |
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 M550i trim levels for each model year. Updated June 26, 2025
Supplementary rates and insights
Some other notable observations regarding the cost to insure a BMW M550i include:
- Qualify for discounts to lower insurance cost. Discounts may be available if the policyholders insure their home and car with the same company, belong to certain professional organizations, are claim-free, choose electronic billing, are homeowners, or many other discounts which could save the average driver as much as $584 per year on the cost of insuring a BMW M550i.
- Raise your credit score to score lower rates. Having excellent credit of 800+ may save $537 per year when compared to a credit rating of 670-739. Conversely, a poor credit rating could cost around $622 more per year.
- Careless drivers spend more on insurance. At-fault accidents raise insurance rates, potentially up to $4,906 per year for a 20-year-old driver and even $790 per year for a 60-year-old driver.
- Older drivers tend to pay cheaper insurance rates. The difference in insurance rates for a 2023 M550i between a 50-year-old driver ($3,002 per year) and a 20-year-old driver ($6,928 per year) is $3,926, or a savings of 79.1%.
- Your employment could earn you discounts. The large majority of car insurance companies offer discounts for earning a living in occupations like police officers and law enforcement, scientists, architects, accountants, members of the military, and others. If you work in a qualifying profession, you could save between $103 and $233 on your car insurance premium, subject to policy limits.
- Insuring teen drivers is expensive. Average rates for full coverage M550i insurance costs $11,992 per year for a 16-year-old driver, $11,726 per year for a 17-year-old driver, $10,708 per year for an 18-year-old driver, and $9,665 per year for a 19-year-old driver.
- Higher physical damage deductibles lower policy cost. Raising the comprehensive and collision deductibles from $500 to $1,000 could save around $610 per year for a 40-year-old driver and $1,212 per year for a 20-year-old driver.
- Low physical damage deductibles increase policy cost. Cutting your deductibles from $500 to $250 could cost an additional $640 per year for a 40-year-old driver and $1,286 per year for a 20-year-old driver.
Is BMW M550i car insurance affordable?
The BMW M550i ranks 34th out of 38 total vehicles in the midsize luxury car class for the most affordable car insurance cost. The M550i costs an estimated $3,420 per year to insure for full coverage and the category average price is $2,899 per year, a difference of $521 per year.
When compared side-by-side to some other models in the midsize luxury car category, car insurance prices for a BMW M550i cost $960 more per year than the Lexus ES 350, $678 more than the BMW 530i, and $240 more than the Infiniti Q50.
The next table shows how average M550i car insurance rates compare to all midsize luxury car competitors like the Mercedes-Benz CLA250, Audi A6, and the Tesla Model S.
Rank | Make and Model | Annual Premium | Difference |
---|---|---|---|
1 | Cadillac CT5 | $2,450 | -$970 |
2 | Lexus ES 350 | $2,460 | -$960 |
3 | Lexus ES 250 | $2,472 | -$948 |
4 | Lexus RC 300 | $2,482 | -$938 |
5 | Mercedes-Benz AMG CLA35 | $2,488 | -$932 |
6 | Audi A3 | $2,492 | -$928 |
7 | Mercedes-Benz AMG CLA45 | $2,546 | -$874 |
8 | Mercedes-Benz CLA250 | $2,554 | -$866 |
9 | Lexus IS 300 | $2,568 | -$852 |
10 | Jaguar XF | $2,578 | -$842 |
11 | Audi S4 | $2,628 | -$792 |
12 | BMW i4 | $2,636 | -$784 |
13 | Mercedes-Benz E350 | $2,654 | -$766 |
14 | Lexus ES 300h | $2,690 | -$730 |
15 | BMW 530i | $2,742 | -$678 |
16 | Audi A6 | $2,798 | -$622 |
17 | Audi S5 | $2,802 | -$618 |
18 | BMW 540i | $2,808 | -$612 |
19 | BMW 430i | $2,856 | -$564 |
20 | Lexus IS 500 | $2,858 | -$562 |
21 | Mercedes-Benz E450 | $2,886 | -$534 |
22 | Genesis G80 | $2,892 | -$528 |
23 | Mercedes-Benz CLS450 | $2,968 | -$452 |
24 | Mercedes-Benz EQE 350 | $2,988 | -$432 |
25 | Audi RS 5 | $2,996 | -$424 |
26 | BMW 530e | $3,014 | -$406 |
27 | Audi S6 | $3,044 | -$376 |
28 | Mercedes-Benz AMG C43 | $3,048 | -$372 |
29 | BMW M440i | $3,052 | -$368 |
30 | Mercedes-Benz EQE 500 | $3,056 | -$364 |
31 | Audi A7 | $3,176 | -$244 |
32 | Infiniti Q50 | $3,180 | -$240 |
33 | Lexus LC 500h | $3,414 | -$6 |
34 | BMW M550i | $3,420 | -- |
35 | Tesla Model S | $3,498 | $78 |
36 | Audi S7 | $3,520 | $100 |
37 | BMW M5 | $3,624 | $204 |
38 | BMW M8 | $3,824 | $404 |
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 2023 model year. Updated June 26, 2025