Gianetta Palmer is a writer, copywriter, and essayist. Her work has appeared in EverydayHealth.com, Healthline, and The Dyrt Magazine. She is the author of Scrunchie-Fried and writes a lot about car insurance in her spare time.

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florid...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jun 17, 2021

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Looking for a new or used BMW i8? And wondering how much it costs to insure by year? We researched average annual insurance costs for each model year and have compiled the results for you below.

BMW i8 insurance facts

  • Average full coverage auto insurance premium: $251/month

  • Most affordable companies: GEICO ($210/month) & Progressive ($221/month)

  • i8 car insurance cost vs. average rate: $413 more expensive than the average vehicle

Explore the pricing information below to find how much it will cost you to insure your BMW i8 by model year and auto insurer.

Free Auto Insurance Comparison

Enter your ZIP code below to view companies that have cheap auto insurance rates.

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Below average BMW i8 insurer costs by state:

Risk factors affecting BMW i8 coverage rates

The make and model of your vehicle, along with the year of manufacture, are the three most important factors in determining your car’s value, which in turn is the main factor in determining your car insurance premium. Your own personal driving history, age, marital status, credit scoretype of vehicle, coverage levels, and other personal factors are also important components of your rate.

How to save money on BMW i8 insurance coverage?

Many driver discounts are available to people through most major auto insurance companies, such as

  • Student discounts

  • Safe drivers

  • Senior discounts

With all BMW models, you can get the following discounts:

  • Passive restraint systems

  • Anti-lock brakes

  • Anti-theft devices

BMW Luxury Automobile Brand

BMW is a German automobile manufacturer and owner of the MINI brand, producing luxury vehicles for the United States and other international markets. The target market of BMW is the affluent class of modern urban consumers. All BMW’s automobiles have high safety ratings, with many of their vehicles getting “Top Safety Pick” and 5-star safety and crash test ratings from the National Highway Traffic Safety Administration (NHTSA). The BMW 3 Series, Z4, and X5 are some of their most popular vehicles.

Higher than average i8 repair costs equal higher coverage rates

Many consumers are attracted to the BMW luxury, comfort, safety, and driver-assist technologies, like BMW’s driver assistance system. Automotive parts are not as common as popular vehicles, like the Toyota or Honda. Repairing a BMW is higher than average since repair parts are more expensive and not as available as popular vehicles. For this reason, many BMWs are going to have higher than average car insurance rates to similar vehicles in their class.

Rapid depreciation for BMW i8 affecting auto policies

Another factor to consider for BMW’s, is they depreciate rapidly (notably higher-end luxury BMW models), affecting auto insurance rates. As your vehicle’s value goes down each year, your auto policy could go down at each renewal. On the other hand, in an auto accident, you need repair parts that rarely go down in price for all BMW models. This could put you in a difficult situation position since many car insurance companies will subtract depreciation from the amount paid for your insurance claim resulting in a situation where your claim payout doesn’t fully cover your repair cost.

High IIHS and NHTSA safety ratings lower auto rates for drivers

BMW’s are known for their safety ratings, safety features, 5-star crash test ratings, and driver-assist technologies (semiautonomous driving), lowering auto insurance rates for drivers with a good driving record, sometimes getting 20% driver discounts for passive restraints and safety features in BMW models. The BMW 3 series, five series, X3, and X5 are Insurance Institute for Highway Safety (IIHS) “Top Safety Picks,” and the NHTSA consistently gives BMW top safety ratings each year, lowering your car insurance costs.

AutoInsureSavings.org licensed insurance agents to recommend comprehensive and collision coverage, uninsured motorist coverage, and roadside assistance for new Audi automobile owners when buying an insurance policy.

2020 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $4473
Allstate$3712
American Family$3316
Country Financial$3960
Erie$2915
GEICO$2530
Kentucky Farm Bureau$4032
Liberty Mutual$3125
Mercury$3590
Nationwide$3190
Progressive$2645
State Farm$2768
Tennessee Farmers$3426
Texas Farm Bureau$3246
The Hanover$4162
Travelers$3857

Compare all 2020 BMW i8 rates

Average Cost to Insure Per Year

$3012

List Price

$147500

Trims Available

Base - Base Engine: turbocharged 1.5-liter three-cylinder gas engine with an 11.6-kWh battery pack with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2019 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $3920
Allstate$3549
American Family$3247
Country Financial$3740
Erie$2769
GEICO$2419
Kentucky Farm Bureau$3742
Liberty Mutual$2899
Mercury$3416
Nationwide$3016
Progressive$2530
State Farm$2648
Tennessee Farmers$3350
Texas Farm Bureau$3125
The Hanover$3826
Travelers$3621

Compare all 2019 BMW i8 rates

Average Cost to Insure Per Year

$2873

List Price

$148500

Trims Available

Base - Base Engine: turbocharged 1.5-liter three-cylinder gas engine with an 11.6-kWh battery pack with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2018 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $3615
Allstate$3300
American Family$3024
Country Financial$3459
Erie$2648
GEICO$2315
Kentucky Farm Bureau$3548
Liberty Mutual$2781
Mercury$3216
Nationwide$2865
Progressive$2380
State Farm$2459
Tennessee Farmers$3187
Texas Farm Bureau$2943
The Hanover$3567
Travelers$3327

Compare all 2018 BMW i8 rates

Average Cost to Insure Per Year

$2956

List Price

$163300

Trims Available

Base - Base Engine: turbocharged 1.5-liter three-cylinder gas engine with an 11.6-kWh battery pack with advance and passive safety features: BMW Active Driving Assistant, collision avoidance technologies with forward-collision warning, pedestrian detection, low-speed automatic emergency braking, lane-departure warning, blind-spot warning, rear cross-traffic warning, Safety Features: Airbags, 4-Wheel ABS, 4-Wheel Disc Brakes, Brake Assist, Electronic Stability Control, Traction Control, Blind Spot Monitor, Lane Departure Warning, and Lane Keeping Assist

2017 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
21st Century$ 4265
21st Century$ 4265
Allstate$ 4264
Allstate$ 4264
American Family$ 4038
American Family$ 4038
Amica$ 4126
Amica$ 4126
Farmers$ 1548
Farmers$ 1548
GEICO$ 2231
GEICO$ 2231
Mercury$ 1022
Mercury$ 1022
Nationwide$ 2457
Nationwide$ 2457
Progressive$ 1079
Progressive$ 1079
Southern Farm Bureau$ 3211
Southern Farm Bureau$ 3211
State Farm$ 2356
State Farm$ 2356
USAA$ 1685
USAA$ 1685

Compare all 2017 BMW i8 rates

Average Cost to Insure Per Year

$ 2525

List Price

$ 143400

Trims Available

Base

2016 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 3171
Acuity$ 3171
Allied$ 2895
Allied$ 2895
Arbella$ 2258
Arbella$ 2258
Country$ 3228
Country$ 3228
Erie$ 2399
Erie$ 2399
Farmers$ 2563
Farmers$ 2563
Mercury$ 1357
Mercury$ 1357
Nationwide$ 3132
Nationwide$ 3132
Plymouth Rock Insurance$ 2404
Plymouth Rock Insurance$ 2404
Progressive$ 1511
Progressive$ 1511
State Farm$ 2914
State Farm$ 2914
Tennessee Farmers$ 1607
Tennessee Farmers$ 1607

Compare all 2016 BMW i8 rates

Average Cost to Insure Per Year

$ 3721

List Price

$ 140700

Trims Available

Base

2015 BMW i8

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 2877
Acuity$ 2877
Allied$ 2894
Allied$ 2894
Arbella$ 2235
Arbella$ 2235
Country$ 3015
Country$ 3015
Erie$ 2300
Erie$ 2300
Farmers$ 2467
Farmers$ 2467
Mercury$ 1341
Mercury$ 1341
Plymouth Rock Insurance$ 2297
Plymouth Rock Insurance$ 2297
Progressive$ 2795
Progressive$ 2795
Southern Farm Bureau$ 3010
Southern Farm Bureau$ 3010
State Farm$ 2780
State Farm$ 2780
Tennessee Farmers$ 2738
Tennessee Farmers$ 2738

Compare all 2015 BMW i8 rates

Average Cost to Insure Per Year

$ 3748

List Price

$ 136500

Trims Available

Base