BMW Car Insurance

Get reliable car insurance coverage tailored to you with Brokerlink.

Bayerische Motoren Werke AG, commonly referred to as BMW, is a popular choice among Canadian drivers looking for luxury vehicles. If you own a BMW or are thinking of buying a new car, you’ve come to the right place. No matter which type of BMW you drive and whether you own or lease it, you’ll need to purchase BMW insurance.

BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.

What is BMW car insurance?

BMW auto insurance is a special type of coverage specifically designed for high-performance BMWs. Similar to all vehicle coverage, insurance is a contractual agreement you enter into with an insurance company. In exchange for a monthly fee, also known as a premium, your insurance company will help cover the costs of vehicle repairs and losses that may occur after a collision, or from things like theft or vandalism.

Why you need BMW car insurance

BMW auto insurance coverages

BMW drivers must have valid, up-to-date car insurance to drive in Canada. Car insurance policies are made up of various types of coverage, some of which are mandatory and some of which are optional. Thus, when purchasing car insurance, you’ll need to decide which optional coverage types (if any) you want to include in your policy, as well as the amount of coverage you wish to include for the mandatory types. Here's a closer look at the different types of auto insurance you'll need to consider:

Mandatory

Optional

Third-party liability car insurance coverage is compulsory in Canada. It offers protection against the cost of accidental injury or property damage in the event you’re found at fault for a collision. Liability coverage can provide compensation for medical bills, vehicle repairs, legal counsel, and court fees.

[Not mandatory in Newfoundland] Accident benefits coverage is also mandatory in Canada, except for those insuring BMW vehicles in Newfoundland. It offers protection in the event that you, a passenger, or a pedestrian requires medical attention following a collision. No matter who is liable for the accident, the policyholder can still recover compensation through the accident benefits portion of their policy.

[Not mandatory in Ontario] If you suffer an injury or your vehicle is damaged in a collision that was not your fault, you are covered under direct compensation property damage coverage. For this type of coverage, the policyholder can file a claim directly with their insurance provider. This insurance policy is mandatory for those living in Alberta and New Brunswick, while it is optional in others and is meant to ensure you're fairly and efficiently compensated for your vehicle damages without having to deal with a third-party insurance company.

[Not mandatory in Alberta] Uninsured automobile coverage is a mandatory component of Canadian car insurance policies. It protects you and any passengers in your car if you get into an accident with an at-fault driver who is either uninsured or underinsured. Additionally, if you're in an accident with a hit-and-run driver who leaves the scene before you're able to exchange information, you'll also be protected under this policy.

BMW drivers may wish to purchase collision car coverage as part of their car insurance policy. This type of coverage is optional and protects the policyholder if they are in an accident with another vehicle or object. It covers you regardless of whether you were at fault for the accident or not.

Unlike accident benefits coverage, collision coverage can only be used to pay for the cost of property damage following an accident, such as vehicle repairs. It cannot be used to cover any medical expenses associated with injuries.

For the highest level of financial protection, Canadian drivers may choose to purchase comprehensive coverage. Comprehensive car coverage protects your vehicle against theft, vandalism, fire, and water damage. Your policy may also include additional covered risks that can vary between insurance companies.

One more type of optional car insurance coverage popular among BMW cars is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim.

If you're buying a new car, adding this coverage to your policy is worth considering. It ensures you're covered for the full value of your vehicle without factoring in depreciation. That means if your car is stolen or totalled, you'll be reimbursed for the cost of a brand-new vehicle—not just what it's worth after wear and tear.

If you ever get into an accident and your car needs repairs, loss of use coverage has your back. While your car is in the shop, this coverage helps pay for other ways to get around—whether that's hopping on public transit, using ride shares, or renting a car. It can be a real lifesaver, especially if your car ends up being out of commission for days or even weeks.

Let us be your resource for all things car insurance

Why BrokerLink

Discover what sets BrokerLink apart. Our commitment to personalized service, expert advice, and comprehensive coverage options ensures you get the best protection tailored to your needs.

Our reviews

20787+ Reviews

Average rating of 4.6

Greg Silver

Excellent service, rates and customer service. Highly recommended.
Andy Rohansingh

Very easy to do business with this company. They handle all of my past, current and will be doing my future vehicles also. They listen and get you the insurance that you want and need.
Ian Roome

I've always had a great experience with their agents/brokers when I've had questions about my policy. Agents are always polite, professional and able to answer my questions.
Clara Furlano

Honestly, they have the best advisors. Ones who take their time to understand your insurance needs.
Joyce Kivuyo-Kisamo

I have been with BrokerLink for over 5 years and have never been disappointed; my issues have been always solved promptly and efficiently, they even found me a cheaper motor insurance with same qualit...
Terry Mason

I find Brokerlink to be better priced than most of their competitors. I have received good, prompt advise and always deal with a live agent.
Sandi G

Excellent, hands-on, personable service. I feel like I haven't had a broker like this, in a long time
DANI L

The best client experience!!! Honest, genuine, professional. They explain AND LISTEN! Trust no one else ❤️

Our numbers speak for themselves

How to save money on BMW insurance

Renewing car insurance can be costly, especially for luxury vehicles like BMWs. Luckily, there are ways to save money on auto insurance, even when you drive an expensive car. BrokerLink’s expert insurance advisors provide a few of their top tips and tricks on how to get cheap BMW car insurance below:

Purchase car insurance for multiple vehicles together (savings of up to 20%)
Buy multiple insurance policies (home insurance plus car insurance, leisure vehicle insurance plus car insurance, etc) from the same provider (savings of up to 15%)
Increase your deductible
Learn safe driving tips and enrol in driving school (for new drivers)
Purchase an eco-friendly BMW model, such as one of their plug-in hybrid or all-electric models (savings of up to 10%)
Pay auto insurance annually rather than monthly
Install winter tires on your BMW
Compare BMW car insurance quotes from different providers
Ask whether you qualify for insurance discounts

What factors influence BMW insurance premiums?

When you shop for BMW car insurance, you’ll likely notice that insurance providers will ask several questions when calculating your premium. This is because insurance companies take several factors into account when determining your rate. Here's a closer look at some of the main factors that will contribute to how your BMW vehicle insurance rates are calculated:

Driver's age

An insurance company will ask for your age when calculating your insurance premium. Why? To an insurance company, age and risk go hand-in-hand. The younger you are, the less driving experience you have, and the higher your insurance premium will be.

Location

Your location can also influence your insurance rate. Your car insurance may cost more if you live in a metropolitan area like Toronto or Vancouver. Since there is more traffic on the road in urban areas, your chances of getting into an accident increase, especially if you drive during rush hour. In contrast, BMW drivers who live in rural parts of the country may pay less for car insurance. Further, if you live in a part of the country prone to climate-related incidents, your insurance premium could be higher.

Annual mileage

How frequently you drive is another factor insurance companies will consider when calculating your rate. If you don’t plan to drive your BMW very often, your chances of getting into an accident go down, and so too may your insurance premium for a low mileage policy. In contrast, if you spend an above-average amount of time on the road, perhaps you drive as part of your job, you have a long daily commute, etc., or you frequently drive at night or on the highway, the cost of your BMW car insurance may be higher.

Driving and insurance history

When calculating insurance premiums, insurance companies will require information about your driving history. They will request a copy of your driving record and will use your level of driving experience to gauge your risk level.

A lack of driving experience is a red flag to insurance companies, which is why young drivers tend to pay the highest premiums. However, driving experience in and of itself isn’t enough to lower your premium. You must also have a clean driving record. A clean record paired with ample driving experience indicates that you are a safe and responsible driver, and your insurance premium may be lowered accordingly. However, if your driving record is full of speeding tickets, collisions, and DUIs, then your insurance premium may be raised.

Model and year of BMW

The BMW model you purchase can affect how much you pay for insurance. The general rule of thumb is that the more expensive the vehicle, the more it will cost to insure, simply because repair costs and the cost of parts are typically higher. As BMWs are luxury vehicles, they tend to cost more to insure. However, choosing one of the cheaper models or purchasing pre-owned BMWs or older models rather than new models may save you money on your auto insurance rates.

Get in touch for a free BMW car insurance quote

Want to learn more about BMW car insurance? Are you up for an expired car insurance renewal? BrokerLink is here. We are a go-to brokerage for BMW car insurance in Canada. Since 1991, we have committed ourselves to finding the best car insurance policies for our customers.

BrokerLink creates a hassle-free car insurance experience by doing the work for you. So, while you’re test-driving cars at the BMW dealership, we’ll be working behind the scenes to browse multiple auto insurance policies, obtain and compare quotes, and unlock discounts. Car insurance with the best coverage at the best price is what we offer. So, no matter which BMW model you drive and whether you own or lease it, you can count on BrokerLink. Make us your go-to resource for all things BMW car insurance, and we promise you won’t be disappointed.

BrokerLink is pleased to offer free BMW car insurance quotes to all Canadian drivers. So, if you want to know how much a new BMW could raise your insurance premium, use your online calculator to find out in just five minutes. Answer a few questions about yourself and the model and year of your BMW, and you’ll receive an accurate and competitive quote in a matter of minutes.

[phone]

Get an auto insurance quote

Resources

Check out our wide range of resources, offering valuable information and tools, all in one convenient place.

Check out blog

Service and claims

Visit a branch

About us

BMW car insurance FAQs

Have questions? Our FAQ section has the answers you're looking for. Find helpful information to guide you through your options.

What is the least expensive BMW vehicle to insure?

This is a difficult question to answer as many factors are taken into consideration when calculating car insurance rates. However, generally speaking, the cheaper the car, the less it will cost to insure. Therefore, the BMW X1, which is the least expensive BMW model, may be the cheapest to insure.

However, other factors come into play when calculating BMW car insurance. For example, whether you are buying a new or used BMW can impact your insurance rate. In addition, purchasing a BMW with lots of custom trims can also raise your insurance premium as repairing or replacing your vehicle will be more expensive. At the end of the day, insuring a luxury vehicle like a BMW may not come cheap, but there are ways to save on insurance.

Is BMW car insurance mandatory?

Yes, BMW car insurance is required, no matter which model you buy or where you live in Canada. Auto insurance is mandatory for all Canadian drivers. Each province and territory sets its own car insurance requirements, so be sure to purchase a policy that includes no less than the minimum coverage.

How much is car insurance per month in Ontario for my BMW?

As you know, insurance costs will vary between provinces and territories. So, how much is car insurance per month in Ontario? On average, Ontario motorists will pay $150 a month for their BMW insurance. That said, it's important to remember that this could vary significantly, depending on your unique driving profile and risk level. Before you insure your BMW in Ontario, shop around and compare quotes from providers to ensure you find the best insurance rate possible.

How do you report a car accident?

If you've never been in a collision before, you may be wondering, "How do you report a car accident?" All provinces in Canada have their own traffic regulations that determine whether you're legally required to notify the police following a collision. For example, in Ontario, if the damage between all vehicles is over $2000 or someone was injured in the accident, you must file a police accident report. Make sure to check your local laws to ensure you know what is required of you following a car accident.

Is it safe to buy BMW car insurance online?

It is safe to buy BMW car insurance online, however, shopping for auto insurance is no easy task. With so many insurance companies competing for your business, it can be difficult to find the policy that’s right for you. Luckily, BrokerLink is here to make shopping for car insurance easy. Our team of insurance advisors does the work for you, so you can sit back and relax while we browse coverage options, compare quotes, and unlock discounts on your behalf.

Are BMW insurance rates more expensive than other insurance rates for different car brands?

It really depends on what car brands you're looking at as well as the vehicles. Beyond the type of vehicle, an insurance provider will look at numerous other factors before determining how much you'll need to pay for your BMW insurance. The best thing you can do if you're buying your first car in this scenario is to compare BMW insurance rates with other car insurance rates.

Do I need to register my vehicle before or after I have insurance?