BMW M3 Insurance Rates
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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:
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.
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.
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
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.
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% |
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
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.
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
Rate Tables and Charts
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
Deductible | Premium |
---|---|
$100 | $2,304 |
$250 | $2,054 |
$500 | $1,766 |
$1,000 | $1,494 |
Full coverage, driver age 40
Rates by Liability Limit
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
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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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