BMW M3 Insurance Rates
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UPDATED: Jun 6, 2023
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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:
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.
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.
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
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.
| 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% |
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
| 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.
| 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
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,166 |
| $250 | $1,942 |
| $500 | $1,684 |
| $1,000 | $1,438 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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