BMW M3 Insurance Rates
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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:
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.
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.
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
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.
| 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% |
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
| 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 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
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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