These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).
Average BMW i3 insurance cost
To provide you with an idea of how much it may cost you to insure your BMW i3, we ran several quotes to find an average figure. Based on our results, on average, you could insure your BMW i3 with a comprehensive policy for the monthly price of £60.96, or an annual sum of £672.
We generated these quotes using the following assumptions about the vehicle and the driver.The vehicle is/has:
Manual transmission
Petrol
Factory fitted alarm system
Not modified
Used for social, domestic and commuting purposes
10,000 mileage per year
Parked in a work car park during the day
Parked on a driveway at night
The driver is/has:
A 30-year-old, single teacher from London
A homeowner
Five years no-claims discount
No driving or other convictions in the last 5 years
BMW i3 insurance cost by location
The table above shows the average cost of BMW i3 insurance based on insurance groups and driver age. However, there are a number of other factors that affect the cost of your car insurance premiums, and one of the biggest is where you are in the UK. Where you live helps determine the level of risk that your car may be stolen or that you'll be involved in an accident, and this affects the cost of insurance.
To show the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for an BMW i3 i3 120Ah.
Expensive: £1,601 (London SE1)
Average: £685 (Newcastle NE1)
Cheap: £634.53 (Galashiels TD1)
Average BMW i3 insurance cost for a 17 year old
To provide you with an idea of how much it may cost you to insure your BMW i3, we ran several quotes to find an average figure. Based on our results, on average, you could insure your BMW i3 with a comprehensive policy for the monthly price of £322, or an annual sum of £3,572.
What other factors affect my BMW i3 insurance rate?
We've covered insurance groups, age and location. Here are some of the other factors that affect your insurance premium costs:
When searching for insurance, you'll want to find the best deal for a price that's within your budget. We've uncovered some tricks you can try to lower the cost of your premium, and we've listed them below.
Limit your car usage (where possible). Occasionally deciding to walk or get public transport, rather than using your car, can help to save on your premiums.
Pay annually rather than monthly. Whilst it might be scary to part with a large sum of money in one go, if you're able to pay annually you can save an average of £59.52 a year.
Install extra safety precautions. The safer your car is, the less of a risk it will be for companies to insure. By adding extra safety measures, you're quite likely to lower your premium.
Don't just accept your renewal quote. When it's time for renewal, it's worth investing a couple of hours to shop around: there may be cheaper options out there.
Bottom line
There's no getting around it: a BMW i3 is going to cost you more to buy, run and insure than many other cars of a similar size and spec. If that's the range you have your heart set on, be sure to compare car insurance (and car finance, if applicable) before you buy, so you don't pay any more than you have to.
Frequently asked questions
BMWi 3s have 5 doors.
The BMW i3 is available with electric only engines.
Depending on the model version, BMW i3s can reach top speeds between 118mph and 146mph.
The BMW i3 has a top power output of 168.
The UK standard car tax rate sites at £150 per year. However, you might pay more or less depending on your car's emissions.
You can buy an BMW i3 online or by visiting your local retailer. There is also a range of used BMW i3s available to buy through various motor resellers and websites such as AutoTrader or Motors.
It depends what you're looking for. A lot of people go for small cars for their first car, and the range might not matche that description. However, if budget is an issue, then it's worth looking at less pricey alternatives. Don't forget that younger drivers already pay more for their insurance, which could be exacerbated if you go for a car in one of the more expensive insurance classes.
Connor is a senior associate publisher at Finder, specialising in insurance and investing. He's been sourcing and analysing data in both subjects for around 4 years, supporting Finder's publishing team. Connor holds a BSc in Accounting and Finance from the University of Sussex and when he's not at work, you can find him at his local gym keeping fit. See full profile
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