Chris Tepedino is a feature writer that has written extensively about car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, research investigative pieces…

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states…

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UPDATED: Sep 25, 2020

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The BMW X2 is a  compact SUV which became available for sale in the North American Market in 2018. It is another luxury SUV available from the well-known German manufacturer, and as such, will probably require an insurance policy with a luxurious price tag.

But there’s actually a very real chance that you can get a surprisingly affordable price on your BMW X2 auto insurance rates.

Below, we will help explain why BMW auto insurance is so expensive, what factors affect rates,  and how these factors can be used in your favor.

Ready to buy BMW X2 auto insurance today? Use our FREE quote tool to compare BMW X2 auto insurance quotes now.

A Brief History of the BMW X2

The BMW X2 model didn’t start production until 2017 and wasn’t available for sale in the North American markets until 2018. It’s MSRP starts out at about $4,500 more than its big brother, the BMW X1.

However, considering the premium you’re paying, there is an oddly large number of similarities between the two vehicles. They are almost identical in size, they have the exact same transmission and engines.

Even though BMW is offering three different model variants – the basic, the M sport, and the M sport X – the M sport X is very similar to the second generation platform of the BMW X1.

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BMW X2 in the News

Although the only major noticeable difference between the BMW X1 and the BMW X2 is the price tag, car experts are getting excited about the 2018 debut fleet.

At the recent 2018 Detroit Auto Show, the X2 was honored with an EyesOn Design Award. At the same show, it also earned an award for vehicle harmonization.

Although BMW is telling its consumers that the vehicle will sell for less than $40,000, thorough reviews report that a fully loaded BMW X2 can top out at over $50,000 or more.

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Comparing BMW X2 Auto Insurance

Did you know that auto insurance companies sometimes adjust the cost of your premiums based on things like gender, or the color of your car?

At the same time, your premium may depend on more practical things, such as the safety features on your vehicle and the overall cost to replace or repair your X2. One of the most important factors by far, however, is where you live.

After all, if you’re driving through large throngs of rush hour traffic five days a week, or if your particular city has higher rates of vehicle theft, your insurance company may hedge their bets and charge you a higher rate.

BMW X2 Car Insurance by State Legend: BMW X2 Oklahoma Florida Washington Iowa Virginia 15 30 45 60 75 90 105 120 135 150 165 180 $144 $193 $118 $62 $98

In general, you would think that there would be a standard way of evaluating risk all across the insurance industry. But the truth is that almost every single insurance company out there – whether national or local – has their own unique way of determining how risky drivers like you are to insure.

Some risk algorithms put more weight towards things like your credit score or your zip code, while others may focus on your years of driving experience and your accident history more than anything else.

Still, others cater to niche markets, like high-risk drivers, in order to drum up more business that they otherwise wouldn’t get.

For all of these reasons, you’re going to need to compare at least three different car insurance company’s quotes against each other. Otherwise, you may end up purchasing an insurance policy which is significantly more expensive then what might otherwise be available in your area.

BMW X2 Auto Insurance by Company Legend: BMW X2 Mercury Nationwide State Farm Allstate Encompass 15 30 45 60 75 90 105 120 135 150 165 180 $79 $98 $117 $118 $193

Like we mentioned earlier, even though the base MSRP for the BMW X2 starts out at around $38,000, a BMW X2 with all the bells and whistles could cost you as much as $55,000 or more.

And if you’re going to buy a vehicle that expensive, you’re probably going to need some very excellent credit in order to afford your monthly payments. But that isn’t the only way in which your credit score will influence the cost of your vehicle.

Your insurance company will also take your credit score into account when they determine your premium. As you may have guessed by now, the better your credit score, the less you can expect to pay each month for your BMW X2 car insurance.

The chart below clearly demonstrates this phenomenon.

BMW X2 Insurance Rates by Credit Score Legend: Excellent Credit Good Credit Average Credit Mercury Nationwide State Farm Allstate Encompass 25 50 75 100 125 150 175 200 225 250 $68 $79 $92 $88 $98 $108 $130 $117 $123 $108 $118 $150 $171 $193 $274

If you want to own a luxury SUV like the BMW X2, then you’re going to want to get the most comprehensive and reliable insurance coverage you can. But at the same time, you have to think about how much your insurance premiums will hinder your budget.

If you want to make sure such payments make the smallest dent possible in your income, then you’re going to have to compare quotes from as many different providers as you can get. There’s no one cheap BMW X2 auto insurance company – you need to compare. Lucky for you, we have a way of taking all the hard work out of getting these quotes.

Just use the quote generator on this page. In a matter of minutes, you can find a affordable BMW X2 auto insurance from top companies.

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