BMW M3 Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jun 6, 2023

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U.S. average insurance prices for a BMW M3 are $1,628 every 12 months for full coverage. Comprehensive insurance costs around $344 a year, collision costs $674, and liability coverage costs around $452. Liability-only coverage costs as low as $504 a year, with high-risk coverage costing $3,546 or more. Teen drivers pay the highest rates at $6,032 a year or more.

Average premium for full coverage: $1,628

Price estimates for individual coverage:

Comprehensive $344
Collision $674
Liability $452

Prices are based on $500 physical damage deductibles, 30/60 liability coverage, and includes medical and UM/UIM coverage. Estimates are averaged for all states and M3 trim levels.

Price Range from Low to High

Using a 40-year-old driver as an example, BMW M3 insurance prices go from the cheapest price of $504 for just liability insurance to a high of $3,546 for a policy for a high-risk driver.

Liability Only $504
Full Coverage $1,628
High Risk $3,546

Geographic Price Range

Where you live has a large influence on auto insurance rates. Areas with sparse population have more infrequent accident claims than larger metro areas.

The diagram below illustrates how rural and urban location affects auto insurance rates.

Rural Areas $1,221
Small Cities $1,709
Large Cities $2,198

The ranges above show why it is important to compare prices for a specific zip code and their own driving history, rather than using price averages.

Use the form below to get customized rates for your location.

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

More Rate Details

The chart below shows estimated BMW M3 insurance rates for additional coverage choices and driver risks.

  • The lowest rate with discounts is $918
  • Using higher $1,000 deductibles will save about $1,398 a year
  • The average price for the average middle-age driver using $500 deductibles is $1,628
  • Choosing low $100 deductibles for physical damage coverage costs an extra $450 each year
  • Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,546 or more
  • The price to insure a teenage driver can be $6,032 or more

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance prices range from $918 to $6,032

Auto insurance prices for a BMW M3 are also quite variable based on deductibles and policy limits, your driver profile, and the trim level and model year.

Choosing high deductibles could cut prices by as much as $680 a year, while buying higher liability limits will increase prices. Going from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $407 extra every year. View Rates by Deductible or Liability Limit

Older drivers with a good driving record and higher deductibles may only pay around $1,500 a year for full coverage. Prices are highest for teenage drivers, since even excellent drivers will have to pay as much as $6,000 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you could be paying at least $1,900 to $2,700 in extra premium each year, depending on your age. A high-risk auto insurance policy can be around 45% to 130% more than average. View High Risk Driver Rates

The state you live in has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,070 a year in states like Idaho, Maine, and Iowa, or as much as $2,320 on average in Michigan, Louisiana, and New York.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,472 -$156 -9.6%
Alaska $1,248 -$380 -23.3%
Arizona $1,350 -$278 -17.1%
Arkansas $1,628 -$0 0.0%
California $1,856 $228 14.0%
Colorado $1,554 -$74 -4.5%
Connecticut $1,674 $46 2.8%
Delaware $1,842 $214 13.1%
Florida $2,036 $408 25.1%
Georgia $1,502 -$126 -7.7%
Hawaii $1,170 -$458 -28.1%
Idaho $1,102 -$526 -32.3%
Illinois $1,212 -$416 -25.6%
Indiana $1,226 -$402 -24.7%
Iowa $1,096 -$532 -32.7%
Kansas $1,548 -$80 -4.9%
Kentucky $2,220 $592 36.4%
Louisiana $2,408 $780 47.9%
Maine $1,004 -$624 -38.3%
Maryland $1,342 -$286 -17.6%
Massachusetts $1,302 -$326 -20.0%
Michigan $2,828 $1,200 73.7%
Minnesota $1,362 -$266 -16.3%
Mississippi $1,950 $322 19.8%
Missouri $1,444 -$184 -11.3%
Montana $1,748 $120 7.4%
Nebraska $1,284 -$344 -21.1%
Nevada $1,954 $326 20.0%
New Hampshire $1,174 -$454 -27.9%
New Jersey $1,820 $192 11.8%
New Mexico $1,442 -$186 -11.4%
New York $1,714 $86 5.3%
North Carolina $938 -$690 -42.4%
North Dakota $1,334 -$294 -18.1%
Ohio $1,124 -$504 -31.0%
Oklahoma $1,670 $42 2.6%
Oregon $1,490 -$138 -8.5%
Pennsylvania $1,552 -$76 -4.7%
Rhode Island $2,172 $544 33.4%
South Carolina $1,474 -$154 -9.5%
South Dakota $1,372 -$256 -15.7%
Tennessee $1,426 -$202 -12.4%
Texas $1,962 $334 20.5%
Utah $1,206 -$422 -25.9%
Vermont $1,114 -$514 -31.6%
Virginia $974 -$654 -40.2%
Washington $1,258 -$370 -22.7%
West Virginia $1,492 -$136 -8.4%
Wisconsin $1,126 -$502 -30.8%
Wyoming $1,452 -$176 -10.8%

View Chart as Image

BMW M3 insurance rates by U.S. city

Since prices can be so different, the only way to know your exact price is to get quotes and see how they stack up. Each insurance company uses a different rate calculation, and quoted prices may be quite different.

Insurance Rates by Trim Level and Model Year

BMW M3 Insurance Rates by Model and Trim Level
Model and Trim Annual Premium Monthly Premium
BMW M3 4-Dr Sedan $1,558 $130
BMW M3 CI 2-Dr Coupe $1,664 $139
BMW M3 2-Dr Convertible $1,664 $139

Rates assume 2018 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

BMW M3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2018 BMW M3 $344 $674 $452 $1,628
2015 BMW M3 $296 $522 $460 $1,436
2011 BMW M3 $252 $386 $478 $1,274
2009 BMW M3 $220 $320 $474 $1,172
2008 BMW M3 $214 $288 $468 $1,128
2006 BMW M3 $206 $268 $452 $1,084
2005 BMW M3 $190 $254 $446 $1,048
2004 BMW M3 $182 $242 $442 $1,024

Rates are averaged for all BMW M3 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.

How to Shop for Affordable BMW M3 Insurance

Getting lower rates on auto insurance requires being a safe and courteous driver, having a good credit score, eliminating unnecessary coverage, and maximizing policy discounts. Set aside time to shop around every year by requesting rates from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.

Below is a brief review of the coverage data raised in the charts and tables above.

  • Drivers can save up to $200 per year simply by quoting early and online
  • Increasing physical damage deductibles could save as much as $675 each year
  • Teenage drivers are expensive to insure, with premiums as much as $503 a month if comprehensive and collision insurance is included
  • Drivers with DUI or reckless driving convictions may pay on average $1,920 more every year for auto insurance

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,032
20 $3,780
30 $1,702
40 $1,628
50 $1,486
60 $1,458

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,078
$250 $1,868
$500 $1,628
$1,000 $1,398

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,628
50/100 $1,754
100/300 $1,867
250/500 $2,161
100 CSL $1,800
300 CSL $2,048
500 CSL $2,229

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,640
20 $6,024
30 $3,626
40 $3,546
50 $3,384
60 $3,354

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 $233

Potential Rate Discounts

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

Discount Savings
Multi-policy $88
Multi-vehicle $87
Homeowner $24
5-yr Accident Free $125
5-yr Claim Free $107
Paid in Full/EFT $78
Advance Quote $83
Online Quote $118
Total Discounts $710
Rate after discounts $918

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

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