You may be looking at the BMW X2 as a compact SUV with a premium badge. Before you commit, it helps to see the costs that come every year, not just the price on the windscreen. Here they are, one by one.
All insurance figures are examples for one stated driver, read on 20 October 2026. They show how prices compare, not what you will be offered.
Two versions on sale
The new-car list read on 2026-10-10 shows two X2 versions. Both are SUVs made in Germany, both run on petrol:
- X2 sDrive16i M Sport: 1,499cc, 121bhp
- X2 M35i 2.0 xDrive: 1,998cc, 296bhp
The two sit far apart on engine size and power. That gap shows up in road tax and the COE, so check which one you are pricing. The insurance figures below are for the sDrive16i M Sport, the version most insurers quote.
What they were listed at
As listed on 2026-10-10, with COE included that day:
- sDrive16i M Sport: S$305,888
- M35i 2.0 xDrive: S$394,888
List prices follow the COE. They can move up or down from one bidding round to the next. When you compare quotes, see what each one includes.
The COE question
For the sDrive16i M Sport, with its 1,499cc engine, the category depends on power. It needs a Category A COE if its power is 97kW (130bhp) or less, and a Category B COE if it is more.
In the October 2026 1st round, Category A closed at S$130,001 and Category B at S$130,100. These figures change each round. The latest are on the COE page.
Road tax
For the sDrive16i M Sport's 1,499cc engine, LTA's formula gives S$683.66 a year, before any age surcharge.
The M35i has a larger 1,998cc engine, so its road tax is higher. The road tax page works it out for any engine size.
The surcharge on older cars applies to both:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
Insurance premiums for the standard case
The BMW X2 price page prices one driver and one car:
- Car: X2 sDrive16i M Sport, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, driving 10 to 19 years
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no add-ons
13 insurers price it. The lowest premium is S$871.96 a year. The insurer whose lowest plan is dearest asks at least S$2,636.48. That is S$1,764.52 more, or 202% on top. Every price includes 9% GST.
Three insurers on the panel have no online price for the X2 yet. So the choice is a little narrower than for some cars.
Excess levels
Each plan comes with an excess, the sum you pay on each claim. On the X2's page most plans carry S$600, and several S$500 or S$750. One has no excess. A few run to S$2,500 or S$3,000. Two plans with similar premiums can differ a lot here.
Pros and cons of the X2's insurance costs
- For: 13 insurers price it, and several plans sit below the no-NCD figure of S$1,329.06.
- For: an 8-year-old car comes out lower at the bottom of the range.
- Against: five of the six similar cars on the page cost less to insure.
- Against: a driver over 65 pays more at the lowest price, not the same.
How the premium shifts
The price page shows the lowest price when one detail changes:
- No NCD (0%): S$1,329.06, which is S$457.10 more
- 20% NCD: S$1,323.35, which is S$451.39 more
- Driver aged 27, 3 years' driving, 30% NCD: S$1,329.06, which is S$457.10 more
- Driver aged 65, 20 or more years' driving: S$979.33, which is S$107.37 more
- New car, registered this year: S$979.33, which is S$107.37 more
- Car 8 years old: S$824.12, which is S$47.84 less
The NCD is the biggest lever. With none, the lowest price is 52% higher. Note also that the older driver pays more here than the 40-year-old. On many cars these two match. A brand-new X2 costs more to insure than a 3-year-old one at this lowest price. These are lowest prices only; other plans may move by other amounts.
The X2 beside similar cars
For the same driver and car age, the price page lists six similar cars:
- Mazda 3: S$927.36
- Mercedes-Benz GLB: S$787.96
- Hyundai Kona: S$721.59
- Toyota Corolla Altis: S$642.42
- Honda Freed: S$642.42
- Toyota Sienta: S$604.07
Their average lowest price is S$720.97. The X2 costs 21% more than that. Only the Mazda 3 is dearer to insure of the six. Other BMW models are on the BMW car insurance page.
Costs that depend on you
These costs vary too much to give a figure:
- Parking: season parking where you live and work, plus short-term parking around town.
- Petrol: set by your mileage and pump prices. The two versions have very different engines.
- ERP: depends on where and when you drive.
- Servicing: follow the maker's schedule. Tyres, brakes and a battery come due over time. Ask what the warranty covers.
- Depreciation: what the car loses in value over its COE life, set by what you pay and what it later fetches.
Summary of yearly costs we can show
For the X2 sDrive16i M Sport, with dates as shown:
- Road tax: S$683.66 a year, before any age surcharge (LTA's formula, checked 2026-10-19)
- Insurance, standard driver: from S$871.96 a year (20 October 2026)
- Insurance, no NCD: from S$1,329.06
- Insurance, driver aged 65: from S$979.33
- Insurance, a car 8 years old: from S$824.12
One-off costs, for reference: S$305,888 as listed on 2026-10-10, and a COE in the October 2026 1st round of S$130,001 (Category A) or S$130,100 (Category B).
Before you buy: car insurance for the BMW X2
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the BMW X2 to see today's prices from every insurer we compare and how they change with the driver and the car's age. Or get a quote with your own details.