BMW X2 Insurance Rates and Cost Comparisons

How much does BMW X2 auto insurance cost?

If you’re considering purchasing a BMW X2, it’s important to factor in the cost of auto insurance. On average, full-coverage car insurance rates for this luxury SUV come in at $1,689 annually. This figure includes collision insurance, which costs around $793 per year, while comprehensive coverage – also known as “other-than-collision” coverage – is approximately $399 per year. The remaining coverage components, including liability and medical coverage, come to a total of $508 annually.

The chart below displays how average BMW X2 car insurance rates vary depending on your age group and the policy deductibles you choose. For instance, the lowest rate of $1,277 per year is for individuals who are 60 years old and opt for a $1,000 policy deductible. On the other hand, the most expensive rate of $3,918 per year is for those who are 20 years old and choose a $250 policy deductible.

If you’re looking to save money on BMW X2 auto insurance, it’s worth considering the age group you belong to and the deductible you select. Additionally, other factors such as your driving record, location, and annual mileage can impact your insurance rates.

Displayed in the chart below are the mean insurance rates for BMW X2 automobiles from 2018 to 2023. The annual premium for complete coverage of insurance varies from $1,383 for the 2018 BMW X2 to $1,689 for the 2023 model year.

How do BMW X2 insurance rates compare?

When it comes to the cost of auto insurance for the top-selling models in the small luxury crossover category, the BMW X2 stands out. Compared to other popular models, the BMW X2 is priced at $79 less per year than the Audi Q5, $177 less per year than the BMW X3, $53 more per year than the Volvo XC60, and $391 more per year than the Acura RDX.

In the 2023 small luxury crossover class, the BMW X2 ranks #18 out of a total of 35 cars. The estimated cost to insure the X2 is $1,689 annually, which is $24 less than the category median average cost of $1,711 per year.

To provide a more comprehensive comparison, we have included a chart that highlights how the BMW X2 insurance rates compare to other popular small luxury crossovers such as the Lexus NX 300, Mercedes-Benz GLC300, and Acura RDX. Additionally, a larger table has been provided which illustrates the average auto insurance cost for all 35 models in the segment.

What is the cheapest BMW X2 to insure?

If you’re in the market for a BMW X2, you might be curious about the insurance rates for different configurations. After analyzing the data, we found that the base sDrive trim of the 2023 BMW X2, with an MSRP of $37,600, has the cheapest insurance rates. The annual premium for full coverage is $1,625, which translates to approximately $136 per month in Oregon.

On the other hand, the M36i xDrive trim, with an MSRP of $47,460, is the most expensive to insure. On average, you can expect to pay $155 more per year compared to the base sDrive trim.

To give you a better idea of the insurance rates for each configuration, we’ve compiled the following table. It shows the average annual premium for full coverage as well as semi-annual prices.

Remember, these are just average rates, and your actual premium may vary based on various factors like your age, driving history, and location. However, this should give you a general idea of what to expect when insuring a BMW X2.

Additional rates and information

The cost of your policy can be influenced by where you live, your driving history, and the level of coverage you choose. It’s important to keep these factors in mind as you shop for insurance.

1. If you’re a driver with a history of accidents or violations, you may find that your insurance rates are higher. For example, a 30-year-old driver with a poor driving record could see an increase in their insurance cost by $2,060 or more per year when insuring a new X2.
2. However, there are ways to save on your insurance premiums. One effective method is to look for discounts that you may be eligible for. Many insurance companies offer discounts for policyholders who sign up early, bundle their home and auto insurance, or drive a car equipped with safety or anti-theft features. Other potential discounts include loyalty rewards, senior citizen discounts, and more. By taking advantage of these discounts, you may be able to save up to $297 per year on your policy.
3. Another way to save on car insurance is to adjust your deductible. Choosing a higher deductible can lower your overall cost, while choosing a lower deductible will make your insurance more expensive. For example, raising your policy deductible from $500 to $1,000 could save a 40-year-old driver around $275 per year and a 20-year-old driver around $533 per year. On the other hand, lowering your deductible from $500 to $250 could cost an additional $289 per year for a 40-year-old driver and $562 per year for a 20-year-old driver.
4. Teen drivers, in particular, can face high insurance rates when driving a BMW X2. Full-coverage X2 auto insurance can cost up to $6,037 per year for a 16-year-old driver, $5,665 per year for a 17-year-old driver, and $5,293 per year for an 18-year-old driver. If you’re a teen driver or the parent of a teen driver, it’s important to be aware of these potential costs and take steps to find the best insurance rates available.

Finally, it’s worth noting that some insurance companies offer discounts based on your employment. If you work in certain professions such as farming, emergency medical services, or the military, you may be eligible for a discount on your insurance premiums. These discounts can range from $50 to $159 per year, depending on the age of the driver.

Ways to Lower BMW X2 Insurance Rates

While the cost of insuring a BMW X2 can be high, there are several ways to lower your insurance rates:

1. Take Advantage of Discounts

Many insurance companies offer discounts for things like safe driving, multiple policies, and anti-theft devices. Be sure to ask your insurance company about any available discounts.

2. Choose a Higher Deductible

As mentioned earlier, choosing a higher deductible can lower your insurance rates. However, it is important to choose a deductible that you can afford to pay out of pocket if you are in an accident.

3. Consider Usage-Based Insurance

Some insurance companies offer usage-based insurance, which bases your insurance rates on your driving habits. If you are a safe driver, this can be a great way to lower your insurance rates.

4. Shop Around

Finally, be sure to shop around and compare rates from several insurance companies. Rates can vary widely, so it is important to get multiple quotes to find the best deal.

FAQs

1. What factors affect the cost of insuring a BMW X2?

The factors that can affect the cost of insuring a BMW X2 include age, driving experience, location, driving record, insurance coverage limits, and deductible.

2. What are some ways to lower BMW X2 insurance rates?

Some ways to lower BMW X2 insurance rates include taking advantage of discounts, choosing a higher deductible, considering usage-based insurance, and shopping around for the best rates.

3. Which insurance company offers the lowest rates for the BMW X2?

Based on our comparison, Geico offered the lowest insurance rates for the BMW X2.

4. Does the BMW X2 come with any safety features that can lower insurance rates?

Yes, the BMW X2 comes with several safety features, such as automatic emergency braking and lane departure warning, that can help lower insurance rates.

5. Is it important to shop around for insurance rates before purchasing a BMW X2?

Yes, it is important to shop around and compare rates from several insurance companies before purchasing a BMW X2 to ensure that you get the best deal on insurance.