How much does BMW car insurance cost?
![Blue BMW car]()
As of 2025, the average cost of BMW insurance in Ontario is $2,375. Since BMWs cost more to purchase and typically have higher repair fees, basic insurance coverage is usually not enough.
Expect to increase limits to ensure you are covered for a total loss and more expensive repair claims. The cost to insure a BMW will be affected by higher coverage limits, one of the many factors that make them more expensive to insure.
Costs vary on a case-by-case basis also. The vehicle model you choose, safety features, your location, how much you drive, and driving and insurance history are all factored into how much you will pay.
If you plan to purchase or lease a BMW, expect to pay higher than the average premiums.
BMW car insurance rate changes by year
The insurance cost for a BMW changes by the year. Like many other vehicles, rates have increased recently. In 2022, premiums were around $1,835. As for 2025 BMW rates are around $2,574 annually.
| Year |
Average annual premium |
| 2025 |
$2,375 |
| 2024 |
$2,621 |
| 2023 |
$2,398 |
| 2022 |
$1,835 |
| Average rate (2022-2025) |
$2,307 |
BMW car insurance rates by city in Ontario
Your location is important in how much you’ll pay for BMW insurance. Cities with higher premiums typically have higher instances of theft, fraud, and collisions - increasing risk for insurers.
Ajax is the most expensive city for BMW drivers, costing $3,380 yearly for coverage. Brampton is the second most expensive city for BMW coverage, costing drivers $3,250 annually, or $271 per month. BMW drivers in Newmarket might see the lowest rates at $1,470 annually ($123 monthly). Guelph is a close second at $1,543 annually ($129 monthly).
Here’s an overview of how BMW car insurance premiums vary by city:
| City |
Avg premium |
Monthly |
| Ontario |
$2,574 |
$215 |
| Toronto |
$2,097 |
$175 |
| Ottawa |
$2,604 |
$217 |
| Hamilton |
$1,583 |
$132 |
| Mississauga |
$2,662 |
$222 |
| Kitchener |
$2,090 |
$174 |
| Brampton |
$3,250 |
$271 |
| Guelph |
$1,543 |
$129 |
| Markham |
$2,418 |
$202 |
| Barrie |
$2,128 |
$177 |
| Oshawa |
$2,710 |
$226 |
| Burlington |
$1,962 |
$164 |
| St. Catharines |
$1,700 |
$142 |
| Newmarket |
$1,470 |
$123 |
| Richmond Hill |
$3,033 |
$253 |
| Milton |
$2,081 |
$173 |
| Cambridge |
$2,703 |
$225 |
| Oakville |
$2,188 |
$182 |
| Ajax |
$3,380 |
$282 |
| North York |
$2,690 |
$224 |
**
BMW car insurance rates by model
BMW rates can vary significantly depending on the specific model. Factors such as the vehicle's features, safety ratings, and historical claims data all contribute to the insurance cost.
If you drive a M8, you can see yearly premiums as high as $3,501. The M4 is also on the higher range at $2,877.
The following table provides a general overview of average premiums for some of the popular BMW models in Canada.
| BMW |
| Vehicle |
Premium |
Monthly payment |
| 128i |
$1,390 |
$116 |
| 328i |
$2,451 |
$204 |
| X6 |
$2,730 |
$228 |
| M4 |
$2,877 |
$240 |
| M8 |
$3,501 |
$292 |
| x1 |
$2,270 |
$189 |
BMW car insurance by driver type
Demographics and driving history will alter how much you pay for BMW insurance. Young drivers can see monthly premiums at $3,392, and mature drivers can see premiums as low as $1,993 for the year. Non standard drivers can expect to pay upwards of $771 per month.
| |
Premium |
Monthly |
| Driver type |
| All drivers |
$2,574 |
$215 |
| Young drivers (25 and under) |
$3,392 |
$283 |
| Middle age (26 - 50) |
$2,672 |
$223 |
| Mature/senior drivers (50+) |
$1,993 |
$166 |
| High risk drivers |
$9,254 |
$771 |
| Demographics |
| Male |
$2,631 |
$219 |
| Female |
$2,407 |
$201 |
| Married |
$2,436 |
$203 |
| Single |
$2,711 |
$226 |
| Driving record |
| Clean driving record |
$2,574 |
$215 |
| 1 ticket with past 3 years |
$2,552 |
$213 |
| 1 accident in 3 years |
$3,337 |
$278 |
| 1 cancellation in 3 years |
$3,616 |
$301 |
| 1 suspension in 3 years |
$2,518 |
$210 |
