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2010 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: Jun 13, 2015

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Average insurance rates for a 2010 BMW M3 are $1,370 a year for full coverage insurance. Comprehensive costs approximately $280, collision costs $458, and liability coverage costs $474. Buying a liability-only policy costs as little as $522 a year, with high-risk insurance costing around $2,960. Teen drivers receive the highest rates at $5,196 a year or more.

Annual premium for full coverage: $1,370

Rate estimates for 2010 BMW M3 Insurance

Comprehensive $280
Collision $458
Liability $474

Rate data is compiled from all 50 U.S. states and averaged for all 2010 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 go from as low as $522 for just liability insurance to a much higher rate of $2,960 for a driver that may need high-risk insurance.

Liability Only $522
Full Coverage $1,370
High Risk $2,960

View Chart as Image

2010 BMW M3 insurance rates compared
Column chart showing 2010 BMW M3 insurance prices range from $795 to $5,196 for full coverage

These differences illustrate why anyone shopping for car insurance should compare rates using their specific location and risk profile, rather than using price averages.

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 2010 BMW M3 Insurance

Searching Companies

Looking for the cheapest car insurance rates for your BMW M3? Are you sick and tired of not being able to afford to insure your BMW every month? You are no different than the majority of other car owners.

Because you have many companies to choose from, it can be challenging to locate the lowest cost company.

Save on BMW M3 insurance

Insurance can be prohibitively expensive, but there are discounts available to reduce the price significantly. Certain discounts will be applied when you quote, but some must be asked about before being credited.

  • Air Bag Discount – Vehicles with factory air bags or motorized seat belts can get savings of more than 20%.
  • Seat Belts Save more than Lives – Drivers who require all occupants to use a seat belt could save 15% off your PIP or medical payments premium.
  • Low Mileage Discounts – Low mileage vehicles can qualify you for a substantially lower rate.
  • Early Switch Discount – Some insurance companies reward drivers for switching to them prior to your current policy expiration. It’s a savings of about 10%.
  • Club Memberships – Affiliation with a professional or civic organization could trigger savings on your policy on M3 insurance.
  • Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% on M3 insurance with certain companies.
  • Senior Discount – Mature drivers may be able to get reduced rates on M3 insurance.
  • Accident Forgiveness – Some insurance companies will allow you to have one accident before your rates go up if you are claim-free prior to the accident.

Keep in mind that many deductions do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like comp or med pay. So even though it sounds like you would end up receiving a 100% discount, it just doesn’t work that way. But all discounts will cut the cost of coverage.

Car insurance companies that possibly offer these money-saving discounts may include but are not limited to:

Double check with each company which discounts they offer. Savings may not be available everywhere.

Finding Car Insurance Deals

There are a variety of methods to compare 2010 BMW M3 car insurance quotes, but there is one way that is more efficient than others. You could spend the better part of a day driving to insurance agencies in your area, or you could use online quotes to get the quickest rates.

Most of the best insurance companies take part in a program where insurance shoppers complete one form, and every company can give them a price based on that data. This prevents consumers from doing form submissions for each company you want a rate for.

To fill out one form to compare multiple rates now click here to start a free quote.

The single downside to comparing rates this way is buyers cannot specifically choose the companies to get quotes from. If you would rather choose specific providers to compare rates, we put together a list of low cost car insurance companies in your area. Click here for list of insurance companies.

It doesn’t matter which method you choose, just ensure you’re using exactly the same coverage information on every quote you get. If each company quotes different limits and deductibles on each one it will be next to impossible to determine the lowest rate for your BMW M3. Quoting even small variations in insurance coverages could mean much higher rates. Just keep in mind that quoting more helps you find better pricing.

Factors determining your BMW M3 insurance premium

Consumers need to have an understanding of the different types of things that come into play when calculating the price you pay for auto insurance. Understanding what controls the rates you pay allows you to make educated decisions that may reward you with better auto insurance rates.

The list below includes a few of the “ingredients” companies use to determine rates.

  • Do you have enough liability coverage? – Liability insurance is the protection in the event that a court rules you are at fault for damages from an accident. It provides you with a defense in court up to the limits shown on your policy. Liability is cheap compared to physical damage coverage, so buy as much as you can afford.
  • One company can mean more discounts – Some insurers will award you with lower prices to people who buy several policies from them. It’s known as a multi-policy discount. Discounts can be five, ten or even twenty percent. Even though this discount sounds good, it’s in your best interest to compare rates to confirm you are receiving the best rates possible.
  • Frequent auto insurance claims increase rates – If you file claims often, you can definitely plan on either higher rates or even cancellation. Auto insurance companies provide better rates to insureds who are claim-free. Car insurance is meant to be used in the event of major claims that would cause financial hardship.
  • High crash test scores lower rates – Vehicles with high crash test scores get lower rates. These vehicles result in less severe injuries and any reduction in injury severity means less money paid by your insurance company and more competitive rates for policyholders. If your BMW is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Where you live can impact rates – Living in a rural area has it’s advantages when it comes to auto insurance. Lower population means fewer accidents as well as less vandalism and auto theft. Urban drivers have to deal with congested traffic and much longer commute distances. More time on the road translates into higher accident risk.

Tailor your coverage to you

When buying adequate coverage, there isn’t really a cookie cutter policy. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that could help you determine whether you might need an agent’s assistance.

  • Is extra glass coverage worth it?
  • What is covered by UM/UIM coverage?
  • How much can I save by bundling my policies?
  • Does my medical payments coverage pay my health insurance deductible?
  • At what point should I drop full coverage?
  • Who is covered when they drive my 2010 BMW M3?

If it’s difficult to answer those questions, you might consider talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier

Slick advertising tricks that work

Auto insurance companies such as Progressive, GEICO, Allstate and State Farm regularly use ads on television and other media. They all seem to have a common claim about savings if you move your policy. How can each company make almost identical claims?

Different companies are able to cherry pick for the type of driver they prefer to insure. An example of a driver they prefer might be profiled as between the ages of 30 and 50, has no driving citations, and drives less than 7,500 miles a year. A customer that hits that “sweet spot” receives the best rates and therefore will save quite a bit of money when switching.

Potential customers who don’t qualify for the “perfect” profile will have to pay a higher premium and ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” but not “drivers who get quotes” save money. This is how companies can make those claims.

Because of the profiling, you need to compare as many rates as you can. It’s not possible to predict which company will have the lowest BMW M3 insurance rates.

What car insurance coverages do you need?

Understanding the coverages of your car insurance policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. These are the normal coverages found on most car insurance policies.

Coverage for medical expenses

Coverage for medical payments and/or PIP pay for immediate expenses for things like pain medications, rehabilitation expenses, doctor visits, dental work and nursing services. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not universally available and may carry a deductible

Coverage for uninsured or underinsured drivers

This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your BMW M3.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Liability coverages

Liability coverage can cover injuries or damage you cause to people or other property. This coverage protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that translate to a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit which combines the three limits into one amount without having the split limit caps.

Liability can pay for claims such as court costs, bail bonds, legal defense fees, emergency aid and loss of income. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.

Comprehensive car insurance

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as damage from a tornado or hurricane, theft and a tree branch falling on your vehicle. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Collision coverage

Collision coverage covers damage to your M3 resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things such as sustaining damage from a pot hole, damaging your car on a curb, colliding with another moving vehicle and hitting a parking meter. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to bump up the deductible in order to get cheaper collision rates.

One last thing

Discount 2010 BMW M3 insurance is possible online in addition to many insurance agents, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who do not provide online quoting and many times these regional insurance providers only sell through independent insurance agents.

In this article, we presented some good ideas how to get a better price on insurance. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. Drivers may discover the biggest savings come from a smaller regional carrier. These companies may have significantly lower rates on certain market segments than their larger competitors like State Farm, GEICO and Nationwide.

For more information, link through to the following helpful articles:

Rates by U.S. City

2010 BMW M3 Insurance Rates by City
City Premium
New York City, NY $2,163
Los Angeles, CA $2,340
Philadelphia, PA $1,828
Jacksonville, FL $1,988
Phoenix, AZ $1,590
Chicago, IL $1,836
Houston, TX $2,145
Seattle, WA $1,336
Columbus, OH $1,142
Indianapolis, IN $1,162

Need a specific model?

Choose your model and trim below

Rates by Driver Age

2010 BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $5,196
20 $3,140
30 $1,418
40 $1,370
50 $1,250
60 $1,226

Full coverage, $500 deductibles

Rates by Deductible

2010 BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,692
$250 $1,544
$500 $1,370
$1,000 $1,200

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,370
50/100 $1,465
100/300 $1,583
250/500 $1,891
100 CSL $1,512
300 CSL $1,773
500 CSL $1,963

Full coverage, driver age 40

Rates for High Risk Drivers

2010 BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $7,398
20 $5,010
30 $3,012
40 $2,960
50 $2,826
60 $2,800

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 $190

Potential Rate Discounts

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

Discount Savings
Multi-policy $73
Multi-vehicle $73
Homeowner $22
5-yr Accident Free $96
5-yr Claim Free $89
Paid in Full/EFT $59
Advance Quote $66
Online Quote $97
Total Discounts $575
Rate after discounts $795

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

Find companies with the cheapest rates in your area

2010 BMW M3 Insurance Rates by State
State Premium
Alabama $1,238
Alaska $1,048
Arizona $1,136
Arkansas $1,370
California $1,560
Colorado $1,306
Connecticut $1,406
Delaware $1,550
Florida $1,714
Georgia $1,262
Hawaii $982
Idaho $926
Illinois $1,020
Indiana $1,028
Iowa $924
Kansas $1,302
Kentucky $1,868
Louisiana $2,026
Maine $844
Maryland $1,128
Massachusetts $1,096
Michigan $2,378
Minnesota $1,146
Mississippi $1,638
Missouri $1,214
Montana $1,470
Nebraska $1,078
Nevada $1,640
New Hampshire $986
New Jersey $1,530
New Mexico $1,214
New York $1,442
North Carolina $788
North Dakota $1,120
Ohio $944
Oklahoma $1,406
Oregon $1,254
Pennsylvania $1,306
Rhode Island $1,824
South Carolina $1,238
South Dakota $1,156
Tennessee $1,198
Texas $1,650
Utah $1,012
Vermont $936
Virginia $820
Washington $1,060
West Virginia $1,254
Wisconsin $948
Wyoming $1,220

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