It depends on how much coverage you want and your record and location, but you can expect to pay around $200 for full coverage and a $0 detuctible. The higher the deductible the lower the payment. Liability only should run around $75.
As for repairs, it helps to ask around and find a good BMW shop. I only paid 300 something for an Inspection 2 service (BMWs tell you when they need certain maintanence and called inspection cycles) when the dealer charges around 550. the more work you do yourself, the more money you will save. DIY and you'll spend $15 or so on an oil change x 3 a year is $45. Brakes are also very easy to do, but any shop can also do them. $45-60 plus parts. The rest is really just basic car stuff: tires, fluids, etc. Assuming the car is in propper shape, you'll only need to change the oil and follow the regular inspection schedule (generally one every year to year and a half).
<span style='color:gray'><span style='font-family:Courier'>1995 e36 3 Series RIP
1999 e46 3 Series BURN IN HELL
2000 MR-S Roadster= Current</span></span>
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