BMW M3 Insurance Rates

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UPDATED: May 4, 2024

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Estimated insurance rates for a BMW M3 are $1,766 a year for full coverage. Comprehensive costs approximately $406 a year, collision costs $804, and liability coverage costs around $398. A liability-only policy costs as low as $460 a year, with high-risk insurance costing around $3,842. 16-year-old drivers pay the most at $6,388 a year or more.

Average premium for full coverage: $1,766

Premium estimates by type of coverage:

Comprehensive $406
Collision $804
Liability $398

Rates are based on $500 deductible amounts, bodily injury liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all states and M3 trim levels.

Insurance Price Range by Risk and Coverage

Using a middle-aged driver as an example, insurance rates for a BMW M3 go from the low end price of $460 for just the minimum liability insurance to a high of $3,842 for a driver who has had serious violations or accidents.

Liability Only $460
Full Coverage $1,766
High Risk $3,842

Insurance Price Range by Location

Where you live has a large influence on car insurance rates. Rural locations are statistically proven to have lower incidents of accident claims than congested cities.

The diagram below illustrates how where you live affects auto insurance prices.

Rural Areas $1,325
Small Cities $1,854
Large Cities $2,384

These rate differences show why it is important to compare prices using their specific location, rather than using rate 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.

Additional Rate Analysis

The chart below shows estimated BMW M3 insurance rates for additional coverage and risk scenarios.

  • The best full coverage rate is $988
  • Using higher $1,000 deductibles will save $1,494 a year
  • The estimated price for a 40-year-old good driver who chooses $500 deductibles is $1,766
  • Buying low $100 deductibles for physical damage coverage bumps up the cost to $2,304
  • Higher-risk drivers with multiple tickets or accidents could pay around $3,842 or more
  • An auto insurance policy that insures a teenage driver can cost $6,388 or more

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing full coverage BMW M3 insurance rates range from $988 to $6,388

Auto insurance prices for a BMW M3 also have a wide range based on the trim level of your M3, how you drive, and physical damage deductibles and liability limits.

If you have a few violations or you caused an accident, you could be paying anywhere from $2,100 to $2,800 in extra premium annually, depending on your age. A high-risk auto insurance policy can be around 44% to 133% more than the average rate. View High Risk Driver Rates

Older drivers with a good driving record and higher comprehensive and collision deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will have to pay in the ballpark of $6,300 a year. View Rates by Age

Where you choose to live has a huge impact on BMW M3 insurance rates. A driver around age 40 might see prices as low as $1,170 a year in states like Iowa, Maine, and Idaho, or at least $2,520 on average in New York, Louisiana, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,598 -$168 -9.5%
Alaska $1,356 -$410 -23.2%
Arizona $1,468 -$298 -16.9%
Arkansas $1,766 -$0 0.0%
California $2,014 $248 14.0%
Colorado $1,688 -$78 -4.4%
Connecticut $1,818 $52 2.9%
Delaware $2,000 $234 13.3%
Florida $2,210 $444 25.1%
Georgia $1,632 -$134 -7.6%
Hawaii $1,270 -$496 -28.1%
Idaho $1,196 -$570 -32.3%
Illinois $1,320 -$446 -25.3%
Indiana $1,330 -$436 -24.7%
Iowa $1,194 -$572 -32.4%
Kansas $1,680 -$86 -4.9%
Kentucky $2,412 $646 36.6%
Louisiana $2,616 $850 48.1%
Maine $1,092 -$674 -38.2%
Maryland $1,458 -$308 -17.4%
Massachusetts $1,414 -$352 -19.9%
Michigan $3,070 $1,304 73.8%
Minnesota $1,480 -$286 -16.2%
Mississippi $2,120 $354 20.0%
Missouri $1,570 -$196 -11.1%
Montana $1,900 $134 7.6%
Nebraska $1,394 -$372 -21.1%
Nevada $2,120 $354 20.0%
New Hampshire $1,276 -$490 -27.7%
New Jersey $1,976 $210 11.9%
New Mexico $1,566 -$200 -11.3%
New York $1,862 $96 5.4%
North Carolina $1,018 -$748 -42.4%
North Dakota $1,448 -$318 -18.0%
Ohio $1,220 -$546 -30.9%
Oklahoma $1,818 $52 2.9%
Oregon $1,618 -$148 -8.4%
Pennsylvania $1,686 -$80 -4.5%
Rhode Island $2,358 $592 33.5%
South Carolina $1,602 -$164 -9.3%
South Dakota $1,492 -$274 -15.5%
Tennessee $1,548 -$218 -12.3%
Texas $2,130 $364 20.6%
Utah $1,308 -$458 -25.9%
Vermont $1,210 -$556 -31.5%
Virginia $1,058 -$708 -40.1%
Washington $1,366 -$400 -22.7%
West Virginia $1,622 -$144 -8.2%
Wisconsin $1,224 -$542 -30.7%
Wyoming $1,574 -$192 -10.9%

View Chart as Image

BMW M3 insurance rates by U.S. city

Opting for high physical damage deductibles could cut prices by as much as $810 a year, while buying higher liability limits will push prices upward. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $358 extra every year. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to know who has the cheapest car insurance prices is to get quotes and see how they stack up. Each insurance company utilizes a different rate formula, and quoted prices will be substantially 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 $1,682 $140
BMW M3 CI 2-Dr Coupe $1,810 $151
BMW M3 2-Dr Convertible $1,810 $151

Rates assume 2023 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
2024 BMW M3 $424 $810 $390 $1,782
2023 BMW M3 $406 $804 $398 $1,766
2022 BMW M3 $394 $784 $416 $1,752
2021 BMW M3 $380 $752 $430 $1,720
2020 BMW M3 $358 $726 $442 $1,684
2019 BMW M3 $344 $674 $452 $1,628
2018 BMW M3 $332 $634 $456 $1,580
2017 BMW M3 $318 $568 $460 $1,504
2016 BMW M3 $296 $522 $460 $1,436
2015 BMW M3 $286 $490 $464 $1,398
2013 BMW M3 $258 $424 $474 $1,314
2012 BMW M3 $252 $386 $478 $1,274
2011 BMW M3 $234 $354 $474 $1,220
2010 BMW M3 $220 $320 $474 $1,172
2009 BMW M3 $214 $288 $468 $1,128
2008 BMW M3 $210 $282 $460 $1,110
2006 BMW M3 $190 $254 $446 $1,048
2005 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 Find the Best Cheap BMW M3 Insurance

Finding better rates on auto insurance requires having a good driving record, maintaining a good credit score, not filing small claims, and not having any coverage lapses. Comparison shop every other policy renewal by obtaining price quotes from direct carriers, and also from insurance agencies where you live.

The next list is a quick review of the ideas that were touched on in the above illustrations.

  • Drivers age 20 and younger have the highest car insurance prices, as much as $532 per month if the policy includes full coverage
  • Drivers with a DUI or reckless driving violation could be forced to pay on average $2,080 more per year to buy BMW M3 insurance
  • Increasing policy deductibles can save approximately $800 each year
  • Drivers can save around $220 per year simply by quoting early and online

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,388
20 $4,104
30 $1,864
40 $1,766
50 $1,610
60 $1,580

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,304
$250 $2,054
$500 $1,766
$1,000 $1,494

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,766
50/100 $1,890
100/300 $1,989
250/500 $2,248
100 CSL $1,929
300 CSL $2,148
500 CSL $2,308

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $9,180
20 $6,530
30 $3,952
40 $3,842
50 $3,666
60 $3,636

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 $253

Potential Rate Discounts

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

Discount Savings
Multi-policy $96
Multi-vehicle $92
Homeowner $24
5-yr Accident Free $141
5-yr Claim Free $116
Paid in Full/EFT $88
Advance Quote $92
Online Quote $129
Total Discounts $778
Rate after discounts $988

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

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