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...

Insurance Lawyer

UPDATED: May 4, 2024

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Average insurance rates for a BMW M3 are $1,766 a year with full coverage. Comprehensive insurance costs on average $406, collision insurance costs $804, and liability costs around $398. Liability-only coverage costs as low as $460 a year, and high-risk coverage costs $3,842 or more. Teenage drivers receive the highest rates at up to $6,388 a year.

Average premium for full coverage: $1,766

Rate estimates by individual coverage type:

Comprehensive $406
Collision $804
Liability $398

Rates are based on $500 physical damage deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all U.S. states and for different M3 trim levels.

Price Range by Coverage and Risk

For the average driver, prices range range from as low as $460 for liability-only coverage to a much higher rate of $3,842 for a high-risk insurance policy.

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

Price Range by Location

Where you live can have significant affects on auto insurance rates. Rural areas tend to have a lower frequency of collision claims than densely populated cities. The price range example below illustrates how location impacts car insurance rates.

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

These examples demonstrate why anyone shopping for car insurance should compare prices based on a specific location and risk profile, instead of using average rates.

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 Charts and Tables

The chart below details average BMW M3 insurance rates for different risk profiles and scenarios.

  • The best discount rate is $988
  • Using higher $1,000 deductibles will save around $272 annually
  • The average rate for a 40-year-old driver with $500 deductibles is $1,766
  • Using more expensive low deductibles for physical damage coverage will cost an extra $538 every year
  • Drivers who are prone to accidents and violations could pay upwards of $3,842
  • The cost for full coverage for a teen driver with full coverage may cost $6,388 or more

View Chart as Image

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

Car insurance rates for a BMW M3 can also vary considerably based on your driver profile, the trim level and model year, and policy deductibles and limits.

An older driver with no driving violations and high deductibles may pay as little as $1,600 a year for full coverage. Rates are much higher for teen drivers, where even good drivers will be charged upwards of $6,300 a year. View Rates by Age

Where you live has a huge impact on BMW M3 insurance prices. A driver around age 40 might see rates as low as $1,270 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,390 on average in Florida, Michigan, and New York.

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

Using high physical damage deductibles could cut rates by as much as $810 every year, while increasing your policy's liability limits will cost you more. Moving from a 50/100 limit to a 250/500 limit will cost as much as $358 extra every 12 months. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you may be forking out at a minimum $2,100 to $2,800 extra per year, depending on your age. High-risk driver insurance can be as much as 44% to 133% more than a normal policy. View High Risk Driver Rates

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

Saving money on car insurance requires being a safe and courteous driver, having above-average credit, eliminating unnecessary coverage, and possibly raising deductibles. Spend time shopping around at least every other year by obtaining price quotes from direct companies like GEICO and Progressive, and also from local insurance agents.

Below is a quick review of the car insurance concepts touched on above.

  • Higher risk drivers with a DUI or reckless driving violation may be required to pay an average of $2,080 more each year for auto insurance
  • You may be able to save as much as $220 per year just by shopping early and online
  • Increasing deductibles can save around $800 each year
  • Policyholders who require higher levels of liability will pay an extra $440 every year to increase from a minimum limit to 250/500 limits

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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