Some insurance companies give a discount for it. Not all do.
It's not remote programmable. Remote programmable means it changes with each remote fob used. It is programmable, but you have to take your car in to teh dealer and they hook your car up to their machine and change the settings for you. Nice dealer will do it for free (since it doesn't take very long). Most will charge you like 1/2 hour's worth of labor. That's about $50 in my area.
When you buy a new BMW tho, they're supposed to give you a checklist of what you want and that's free. But, since you bought a used car, you're gonna have to shell out to change it unless you get a nice SA.