BMW M3 2-Dr Convertible Insurance Rates

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U.S. average insurance rates for a BMW M3 2-Dr Convertible are $1,876 a year for full coverage insurance. Comprehensive insurance costs around $466, collision insurance costs $888, and liability costs around $364. Just liability insurance costs as low as $430 a year, and coverage for high-risk drivers costs $4,064 or more. Teenage drivers pay the highest rates at up to $6,640 a year.

Annual premium for full coverage: $1,876

Price estimates for type of coverage:

Comprehensive $466
Collision $888
Liability $364

40-year-old driver, full coverage with $500 deductibles, and good driving record

Price Range for Insurance for this BMW M3 Trim Level

Using a 40-year-old driver as an example, BMW M3 2-Dr Convertible insurance prices range from the low end price of $430 for the bare minimum liability coverage to the much higher price of $4,064 for a policy for a high-risk driver.

Liability Only $430
Full Coverage $1,876
High Risk $4,064

These price ranges illustrate why everyone should compare prices for a specific zip code, instead of making a decision based on average rates.

Use the form below to get rates for your location.

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Insurance rates for a BMW M3 2-Dr Convertible are also quite variable based on the replacement cost of your M3, your age and driving record, and deductibles and policy limits.

If you have some driving violations or you caused an accident, you are probably paying at least $2,200 to $3,000 extra each year, depending on your age. BMW M3 2-Dr Convertible insurance for high-risk drivers can be from 45% to 131% more than a normal policy. View High Risk Driver Rates

A more mature driver with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,700 a year for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records can expect to pay as much as $6,600 a year. View Rates by Age

The state you live in has a huge impact on BMW M3 2-Dr Convertible insurance prices. A driver around age 40 might see prices as low as $1,180 a year in states like North Carolina, , and , or be forced to pay as much as $1,800 on average in Michigan, Montana, and California. Rates by state and city are shown later in the article.

Using high physical damage deductibles could cut prices by as much as $910 annually, whereas buying more liability protection will increase prices. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase rates by as much as $327 more per year. View Rates by Deductible or Liability Limit

Since prices can be so different, the only way to figure out your exact price is to regularly compare prices from multiple companies. Each insurance company uses a different method to calculate prices, so the rates may be quite different.

View Chart as Image

BMW M3 2-Dr Convertible insurance cost comparison chart
Column chart showing BMW M3 2-Dr Convertible insurance prices range from $1,047 to $6,640 for full coverage

The chart estimates BMW M3 2-Dr Convertible insurance prices for various risks and coverage choices. The cheapest discount price is $1,047. Drivers who use higher $1,000 deductibles will pay $1,568. The average price for a driver age 40 with no violations using $500 deductibles is $1,876. Selecting more expensive $100 deductibles for physical damage coverage could cost up to $2,474. Drivers with multiple violations and accidents could be charged at least $4,064. The rate for full coverage for a 16-year-old driver can be as high as $6,640.

BMW M3 2-Dr Convertible Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,694 -$182 -9.7%
Alaska $1,436 -$440 -23.5%
Arizona $1,556 -$320 -17.1%
Arkansas $1,876 -$0 0.0%
California $2,136 $260 13.9%
Colorado $1,792 -$84 -4.5%
Connecticut $1,928 $52 2.8%
Delaware $2,122 $246 13.1%
Florida $2,346 $470 25.1%
Georgia $1,732 -$144 -7.7%
Hawaii $1,348 -$528 -28.1%
Idaho $1,270 -$606 -32.3%
Illinois $1,398 -$478 -25.5%
Indiana $1,414 -$462 -24.6%
Iowa $1,266 -$610 -32.5%
Kansas $1,784 -$92 -4.9%
Kentucky $2,560 $684 36.5%
Louisiana $2,776 $900 48.0%
Maine $1,158 -$718 -38.3%
Maryland $1,546 -$330 -17.6%
Massachusetts $1,500 -$376 -20.0%
Michigan $3,258 $1,382 73.7%
Minnesota $1,570 -$306 -16.3%
Mississippi $2,248 $372 19.8%
Missouri $1,664 -$212 -11.3%
Montana $2,014 $138 7.4%
Nebraska $1,478 -$398 -21.2%
Nevada $2,248 $372 19.8%
New Hampshire $1,352 -$524 -27.9%
New Jersey $2,096 $220 11.7%
New Mexico $1,660 -$216 -11.5%
New York $1,974 $98 5.2%
North Carolina $1,082 -$794 -42.3%
North Dakota $1,536 -$340 -18.1%
Ohio $1,294 -$582 -31.0%
Oklahoma $1,928 $52 2.8%
Oregon $1,718 -$158 -8.4%
Pennsylvania $1,788 -$88 -4.7%
Rhode Island $2,500 $624 33.3%
South Carolina $1,700 -$176 -9.4%
South Dakota $1,582 -$294 -15.7%
Tennessee $1,644 -$232 -12.4%
Texas $2,260 $384 20.5%
Utah $1,390 -$486 -25.9%
Vermont $1,282 -$594 -31.7%
Virginia $1,124 -$752 -40.1%
Washington $1,450 -$426 -22.7%
West Virginia $1,718 -$158 -8.4%
Wisconsin $1,298 -$578 -30.8%
Wyoming $1,670 -$206 -11.0%

View Chart as Image

BMW M3 2-Dr Convertible insurance rates by U.S. city

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Rates by Driver Age

BMW M3 2-Dr Convertible Insurance Rates by Driver Age
Driver Age Premium
16 $6,640
20 $4,332
30 $1,984
40 $1,876
50 $1,706
60 $1,674

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 2-Dr Convertible Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,474
$250 $2,196
$500 $1,876
$1,000 $1,568

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 2-Dr Convertible Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,876
50/100 $1,949
100/300 $2,040
250/500 $2,276
100 CSL $1,985
300 CSL $2,185
500 CSL $2,331

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 2-Dr Convertible Insurance Rates for High Risk Drivers
Age Premium
16 $9,556
20 $6,890
30 $4,186
40 $4,064
50 $3,874
60 $3,840

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 $266

Potential Rate Discounts

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

Discount Savings
Multi-policy $103
Multi-vehicle $96
Homeowner $24
5-yr Accident Free $151
5-yr Claim Free $123
Paid in Full/EFT $96
Advance Quote $99
Online Quote $137
Total Discounts $829
Rate after discounts $1,047

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

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