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1996 BMW M3 Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Apr 27, 2020

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Average insurance rates for a 1996 BMW M3 are $1,024 a year for full coverage insurance. Comprehensive costs an estimated $182, collision insurance costs $242, and liability coverage costs $442. Buying a liability-only policy costs as little as $496 a year, and high-risk insurance costs around $2,198. Teenage drivers receive the highest rates at up to $4,064 a year.

Annual premium for full coverage: $1,024

Rate estimates for 1996 BMW M3 Insurance

Comprehensive $182
Collision $242
Liability $442

Rate data is compiled from all 50 U.S. states and averaged for all 1996 BMW M3 models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.

Price Range by Coverage and Risk

For the average driver, prices range range from as low as $496 for basic liability insurance to the much higher price of $2,198 for a driver that may need high-risk insurance.

Liability Only $496
Full Coverage $1,024
High Risk $2,198

View Chart as Image

1996 BMW M3 insurance rates compared
Column chart showing 1996 BMW M3 insurance prices range from $621 to $4,064 for full coverage

These differences illustrate why everyone should compare rates for a targeted area and risk profile, rather than using average rates.

Use the form below to get rates for your location.

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

Recommended Companies for Cheap 1996 BMW M3 Insurance

Searching Companies

Having to pay for overpriced BMW M3 insurance can overdraw your savings account and put a big crunch on your finances. Shopping your coverage around is a smart way to make sure you’re not throwing money away. There is such a variety of car insurance companies to pick from, and although it’s a good thing to have multiple companies, it can be more difficult to find the lowest rates.

It is always a good idea to get comparison quotes yearly because insurance rates are variable and change quite frequently. Just because you had the lowest rates for M3 coverage a few years ago there is a good chance you can find better rates now. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the things you must know in order to find better coverage at a better price.

Locating the lowest cost car insurance is easy if you know what you’re doing. If you have insurance now or need new coverage, you will benefit by learning to shop for the lowest rates and still get good coverage. Vehicle owners only need to know the tricks to compare rates online.

The easiest way to get policy rate comparisons is to realize most larger insurance companies actually pay money for the chance to give free rates quotes. To start a quote, the only thing you need to do is give them rating details such as how much you drive, how much education you have, your credit rating estimate, and how you use your vehicles. That rating data is sent automatically to insurance companies and you receive quotes quickly.

When might I need the advice of an agent?

When it comes to buying the best insurance coverage coverage for your personal vehicles, there isn’t really a perfect coverage plan. Every situation is different so this has to be addressed. For example, these questions might point out whether your personal situation would benefit from professional advice.

  • What exactly is covered by my policy?
  • Will my rates increase for filing one claim?
  • What is roadside assistance coverage?
  • Should I have a commercial auto policy?
  • Why do I need rental car insurance?
  • Can I still get insurance after a DUI?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does coverage extend to my business vehicle?

If you’re not sure about those questions, then you may want to think about talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and you can get the answers you need.

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What auto insurance coverages do you need?

Having a good grasp of your policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement. These are typical coverage types found on most auto insurance policies.

Coverage for medical payments

Coverage for medical payments and/or PIP provide coverage for bills for X-ray expenses, funeral costs, rehabilitation expenses, chiropractic care and doctor visits. The coverages can be used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to both the driver and occupants in addition to getting struck while a pedestrian. PIP is only offered in select states but can be used in place of medical payments coverage

Uninsured and underinsured coverage

Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these coverages are identical to your policy’s liability coverage.

Liability coverages

This coverage will cover damage that occurs to other’s property or people that is your fault. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 25/50/25 which means $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Another option is one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability can pay for things like repair bills for other people’s vehicles, legal defense fees and court costs. How much coverage you buy is a decision to put some thought into, but consider buying as much as you can afford.

Comprehensive coverages

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as theft, vandalism, fire damage, a broken windshield and hitting a deer. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision coverage

This pays for damage to your M3 resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for claims such as damaging your car on a curb, sideswiping another vehicle and scraping a guard rail. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Use our FREE quote tool to compare rates now!

Rates by U.S. City

1996 BMW M3 Insurance Rates by City
City Premium
New York City, NY $1,620
Los Angeles, CA $1,752
Philadelphia, PA $1,369
Jacksonville, FL $1,487
Phoenix, AZ $1,193
Chicago, IL $1,375
Houston, TX $1,607
Seattle, WA $1,000
Columbus, OH $857
Indianapolis, IN $872

Need a specific model?

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Rates by Driver Age

1996 BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $4,064
20 $2,338
30 $1,046
40 $1,024
50 $940
60 $920

Full coverage, $500 deductibles

Rates by Deductible

1996 BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,208
$250 $1,124
$500 $1,024
$1,000 $926

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,024
50/100 $1,112
100/300 $1,223
250/500 $1,510
100 CSL $1,157
300 CSL $1,400
500 CSL $1,577

Full coverage, driver age 40

Rates for High Risk Drivers

1996 BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $5,730
20 $3,722
30 $2,220
40 $2,198
50 $2,102
60 $2,082

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $136

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $52
Multi-vehicle $54
Homeowner $18
5-yr Accident Free $63
5-yr Claim Free $64
Paid in Full/EFT $38
Advance Quote $45
Online Quote $69
Total Discounts $403
Rate after discounts $621

Discounts are estimated and may not be available from every company or in every state.

Find companies with the cheapest rates in your area

1996 BMW M3 Insurance Rates by State
State Premium
Alabama $928
Alaska $788
Arizona $852
Arkansas $1,024
California $1,168
Colorado $978
Connecticut $1,054
Delaware $1,160
Florida $1,282
Georgia $946
Hawaii $738
Idaho $694
Illinois $764
Indiana $772
Iowa $692
Kansas $976
Kentucky $1,400
Louisiana $1,518
Maine $632
Maryland $846
Massachusetts $822
Michigan $1,782
Minnesota $856
Mississippi $1,228
Missouri $908
Montana $1,102
Nebraska $808
Nevada $1,230
New Hampshire $738
New Jersey $1,146
New Mexico $908
New York $1,080
North Carolina $592
North Dakota $840
Ohio $708
Oklahoma $1,054
Oregon $940
Pennsylvania $978
Rhode Island $1,368
South Carolina $930
South Dakota $866
Tennessee $900
Texas $1,236
Utah $760
Vermont $702
Virginia $616
Washington $794
West Virginia $940
Wisconsin $710
Wyoming $914

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