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: Nov 18, 2021

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U.S. average insurance prices for a BMW M3 are $1,684 every 12 months for full coverage insurance. Comprehensive insurance costs an estimated $358, collision costs $726, and liability is $442. A policy with just liability insurance costs around $496 a year, with coverage for high-risk drivers costing $3,676 or more. Teens pay the highest rates at $6,218 a year or more.

Average premium for full coverage: $1,684

Price estimates broken down by individual coverage:

Comprehensive $358
Collision $726
Liability $442

Includes $500 physical damage deductibles, split liability limits of 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and for all M3 models.

Price Range from Low to High

For the normal driver, BMW M3 insurance prices go from the cheapest price of $496 for just liability insurance 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

Geographic Price Range

Choosing to live in a large city can make a big difference on the price of insurance. More rural locations have more infrequent physical damage 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

The ranges above illustrate why everyone should compare rates quotes for a targeted area and their own driving history, 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.

More Rate Details

The chart below illustrates estimated BMW M3 insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $944
  • Raising to $1,000 deductibles will save approximately $246 each year
  • The average price for the average middle-age driver who has $500 deductibles is $1,684
  • Selecting pricier low deductibles costs an extra $482 annually
  • Drivers with serious driving violations could pay up to $3,676 or more
  • The price to insure 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 full coverage BMW M3 insurance prices range from $944 to $6,218

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

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

A more mature driver with a clean driving record and higher deductibles may pay as low as $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers can expect to pay at least $6,200 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are probably paying $2,000 to $2,700 extra each year, 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

The state you live in also has a big influence on BMW M3 insurance prices. A middle-age driver might find prices as low as $1,100 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,270 on average in Florida, 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

Since prices can be so different, the only way to figure out which car insurance is cheapest is to regularly compare prices from multiple companies. Every auto insurance company calculates prices differently, so the 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 $1,608 $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 Shop for the Cheapest BMW M3 Insurance

Getting lower rates on insurance for a BMW M3 consists of being a safe and courteous driver, having good credit, not filing small claims, and taking advantage of discounts. Invest the time to compare rates at least once a year by obtaining price quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

Below is a recap of the primary concepts that were presented in the illustrations above.

  • It is possible to save approximately $210 per year simply by quoting online well ahead of the renewal date
  • Drivers considered higher risk that have major violations or accidents could be forced to pay on average $1,990 more annually for auto insurance
  • Increasing physical damage deductibles could save as much as $725 each year
  • Teenage drivers are charged the highest prices, as much as $518 a month if they have 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.

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