BMW M3 Insurance Rates

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

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...

Insurance Lawyer

UPDATED: Jun 6, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Estimated insurance rates for a BMW M3 are $1,684 a year including full coverage. Comprehensive costs an estimated $358, collision insurance costs $726, and liability is $442. A liability-only policy costs around $496 a year, and high-risk insurance costs around $3,676. Teens pay the most at up to $6,218 a year.

Average premium for full coverage: $1,684

Premium estimates broken down by type of coverage:

Comprehensive $358
Collision $726
Liability $442

Prices include $500 policy deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Rates include averaging for all 50 U.S. states and for all M3 models.

Insurance Price Range by Risk and Coverage

For the normal driver, insurance rates for a BMW M3 range from the low end price of $496 for a discount liability-only rate to the much higher price of $3,676 for coverage for higher-risk drivers.

Liability Only $496
Full Coverage $1,684
High Risk $3,676

Insurance Price Range by Location

Choosing to live in a large city can make a big difference on the price of auto insurance. More rural locations are statistically proven to have lower incidents of comprehensive and collision claims than cities with more traffic congestion. The example below illustrates how geographic area affects insurance prices.

Rural Areas $1,263
Small Cities $1,768
Large Cities $2,273

These rate differences highlight why everyone should compare rates quotes for a targeted area, instead of making a decision based on averaged prices.

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.

Rates by State, City, and Model

The chart below breaks down average BMW M3 insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $944
  • Raising to $1,000 deductibles will save approximately $246 every year
  • The estimated price for a 40-year-old good driver who has $500 deductibles is $1,684
  • Selecting pricier low deductibles bumps up the cost to $2,166
  • Drivers with serious driving violations could pay up to $3,676
  • An auto insurance policy that insures a 16-year-old driver for full coverage can cost as much as $6,218

View Chart as Image

BMW M3 insurance cost comparison chart
Column chart showing BMW M3 insurance rates range from $944 to $6,218 for full coverage

Auto insurance prices for a BMW M3 also have a wide range based on the model of your M3, your driving record and age, and liability limits and deductibles.

If you have a few violations or you caused an accident, you are likely paying $2,000 to $2,700 in extra premium annually, depending on your age. BMW M3 insurance for high-risk drivers is expensive and can cost from 43% to 132% more than the average policy. View High Risk Driver Rates

A more mature driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,600 every 12 months on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will have to pay at least $6,200 a year. View Rates by Age

Where you choose to live also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,290 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,400 on average in Louisiana, New York, and Michigan.

BMW M3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,524 -$160 -9.5%
Alaska $1,292 -$392 -23.3%
Arizona $1,400 -$284 -16.9%
Arkansas $1,684 -$0 0.0%
California $1,920 $236 14.0%
Colorado $1,608 -$76 -4.5%
Connecticut $1,732 $48 2.9%
Delaware $1,906 $222 13.2%
Florida $2,106 $422 25.1%
Georgia $1,556 -$128 -7.6%
Hawaii $1,210 -$474 -28.1%
Idaho $1,140 -$544 -32.3%
Illinois $1,256 -$428 -25.4%
Indiana $1,270 -$414 -24.6%
Iowa $1,136 -$548 -32.5%
Kansas $1,602 -$82 -4.9%
Kentucky $2,300 $616 36.6%
Louisiana $2,494 $810 48.1%
Maine $1,040 -$644 -38.2%
Maryland $1,390 -$294 -17.5%
Massachusetts $1,348 -$336 -20.0%
Michigan $2,926 $1,242 73.8%
Minnesota $1,410 -$274 -16.3%
Mississippi $2,020 $336 20.0%
Missouri $1,494 -$190 -11.3%
Montana $1,812 $128 7.6%
Nebraska $1,328 -$356 -21.1%
Nevada $2,020 $336 20.0%
New Hampshire $1,212 -$472 -28.0%
New Jersey $1,882 $198 11.8%
New Mexico $1,492 -$192 -11.4%
New York $1,776 $92 5.5%
North Carolina $970 -$714 -42.4%
North Dakota $1,380 -$304 -18.1%
Ohio $1,164 -$520 -30.9%
Oklahoma $1,730 $46 2.7%
Oregon $1,542 -$142 -8.4%
Pennsylvania $1,608 -$76 -4.5%
Rhode Island $2,248 $564 33.5%
South Carolina $1,526 -$158 -9.4%
South Dakota $1,422 -$262 -15.6%
Tennessee $1,476 -$208 -12.4%
Texas $2,030 $346 20.5%
Utah $1,248 -$436 -25.9%
Vermont $1,154 -$530 -31.5%
Virginia $1,012 -$672 -39.9%
Washington $1,302 -$382 -22.7%
West Virginia $1,544 -$140 -8.3%
Wisconsin $1,166 -$518 -30.8%
Wyoming $1,502 -$182 -10.8%

View Chart as Image

BMW M3 insurance rates by U.S. city

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $730 annually, whereas buying more liability protection will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $398 extra every year. View Rates by Deductible or Liability Limit

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 $1,608 $134
BMW M3 CI 2-Dr Coupe $1,722 $144
BMW M3 2-Dr Convertible $1,722 $144

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 $358 $726 $442 $1,684
2015 BMW M3 $318 $568 $460 $1,504
2011 BMW M3 $258 $424 $474 $1,314
2009 BMW M3 $234 $354 $474 $1,220
2008 BMW M3 $220 $320 $474 $1,172
2006 BMW M3 $210 $282 $460 $1,110
2005 BMW M3 $206 $268 $452 $1,084
2004 BMW M3 $190 $254 $446 $1,048
2003 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 Right BMW M3 Insurance

Finding better rates on insurance for a BMW M3 consists of being a good driver, maintaining a good credit score, refrain from filing small claims, and consideration of higher deductibles. Compare rates at least once a year by getting rate quotes from direct car insurance companies, and also from your local car insurance providers.

The following list is a quick rundown of the primary concepts that were presented in the illustrations above.

  • You may be able to save approximately $210 per year just by quoting online well ahead of the renewal date
  • Drivers considered higher risk with reckless driving or DUI convictions could be charged and average of $1,990 more annually than a safer driver
  • Increasing policy deductibles can save approximately $725 each year
  • Drivers age 16 to 20 are the costliest to insure, with the cost nearing $518 per month if the policy includes full coverage

Rates by Driver Age

BMW M3 Insurance Rates by Driver Age
Driver Age Premium
16 $6,218
20 $3,920
30 $1,766
40 $1,684
50 $1,538
60 $1,510

Full coverage, $500 deductibles

Rates by Deductible

BMW M3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,166
$250 $1,942
$500 $1,684
$1,000 $1,438

Full coverage, driver age 40

Rates by Liability Limit

BMW M3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,684
50/100 $1,810
100/300 $1,921
250/500 $2,208
100 CSL $1,855
300 CSL $2,098
500 CSL $2,275

Full coverage, driver age 40

Rates for High Risk Drivers

BMW M3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,916
20 $6,254
30 $3,766
40 $3,676
50 $3,508
60 $3,478

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 $243

Potential Rate Discounts

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

Discount Savings
Multi-policy $92
Multi-vehicle $90
Homeowner $24
5-yr Accident Free $132
5-yr Claim Free $111
Paid in Full/EFT $82
Advance Quote $87
Online Quote $122
Total Discounts $740
Rate after discounts $944

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

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

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

secured lock Secured with SHA-256 Encryption

You May Also Enjoy These Articles